Maggie Tillotson’s Post

Case Study: Heavy Lift Industrial Building………. Would you buy a vacant 340,000 square feet warehouse? Two-year plus transaction UNDER CONTRACT‼️ Janet contacted the Global Real Estate and Facilities department. OFF-MARKET Industrial building located in Jacksonville summer of 2021. REVLON THE GLOBAL BEAUTY COSMETIC COMPANY (Seller)‼️ If we had not used our skills the following would not have happened: 1. Revlon was already in bankruptcy and needed to sell this vacant building 2. Buyer needed to contact people in his Rolodex to get to the top person at Revlon 3. The seller was unaware the water for the building was part of another neighboring lot 4. The contact person was always traveling communication was inconsistent 5. Required Board Members' Approvals to sell the property 6. Insurance Costs 7. Heavy Lift/Vacant Building Here is what came out of this experience: 🔺Teamwork  🔺Ability to traverse challenging circumstances 🔺Never Give Up 🔺We will continue to create deal flow with this client who is well-capitalized The cap-ex budget for this warehouse is north of $7M. We finally closed in July 2023. What specific circumstances have you “UNCOVERED” when purchasing properties? LinkedIn People ~ I am participating in a 10-day challenge of daily posts. Thanks to Yonah Weiss, Nick Stromwall, Amy Sylvis, Sandhya Seshadari, and Keeley Hubbard assisting me through out this #CREchallenge ———————————————— 💥 I am Kristine Flook, Urbanize Properties 🔺Helping real estate investors by providing value-add off-market properties 🔔 Ring it on my Profile 🔝 Connect with me 📲 Message me- DM 👇 Comment Below #urbanizeproperties #commercialrealestateinflorida #agentsinvestingpassiveincome #kristineflook

𝐌𝐢𝐥𝐰𝐚𝐮𝐤𝐞𝐞𝐖𝐚𝐫𝐞𝐡𝐨𝐮𝐬𝐞 | 𝐖𝐚𝐫𝐞𝐡𝐨𝐮𝐬𝐞 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 Hey Wisconsin! MilwaukeeWarehouse can help your business optimize its facility space and human resources by storing, managing and distributing your products in their warehouse. With their transactional pricing structure, you will: ▪️ Never pay for unused space. Dead space is expensive. ▪️ Never pay for idle labor. Idle labor is just as costly as idle space. ▪️ Never run out of space. This is their business, their area of expertise. They will never run out of space. ▪️ Avoid long-term commitments on warehouse space. The world changes faster than ever. Don’t make a long-term commitment on your warehouse space that you may or may not need next year. ▪️ Avoid staffing issues and hiring headaches in your warehouse operation – People are hard to find these days. Really good people with industry knowledge are even more scarce. They've got them. ▪️ Be able to focus on your core business! For more information, click here.👇 https://lnkd.in/es6cqyb9 #FearTheDeer #Partnerships #Community #MilwaukeeBusiness #WisconsinBusiness #Milwaukee #Wisconsin #SupplyChain #InventoryManagement

Immediate start.

Let's talk about labor in building materials distribution. Like many other industries, labor continues to be a challenge for building materials manufacturers, contractors, builders, and distributors. In our monthly survey of dealers, they have consistently ranked labor availability as their biggest concern. This past month, we asked dealers if the labor market had improved over the past 12 months. Nearly half of them stated that the conditions for finding and retaining talent are about the same as last year. Around a quarter of them said it's more difficult, and around a third said conditions have improved. We then asked what steps they have taken to find and retain talent. Unsurprisingly the most common tactic dealers employed was to increase base pay. What I found surprising was that nearly half of them said they have enhanced training and onboarding to ensure their staff is able to be successful in their roles at lumberyard or dealer facilities. 43% said they have increased technology to improve operational efficiencies. Dealer operations can be complicated and not as straightforward as other wholesale operations. We'll ask this later in the year to see how it plays out. #buildingmaterials #buildingproducts #jbrec

Our Q2 Vacancy Rate research has revealed the vacancy rate has once again fallen, now at 5.1%. Please take a look at the full report including an update on the impact Carpetright's administration has on the vacancy rate for the Out of Town market. #definitiveguide #vacancyrate #outoftown #retailparks #retailwarehousing

The Chicago industrial market remains extremely tight with vacancy rates hovering near historic lows. Though vacancy is now beginning to rise, this uptick is not a true depiction of market conditions – the spike is being driven by an outsized oversupply of big-box (500,000 sf+) inventory. This study examines the composition of current market conditions and how vacancy would change if all product under construction delivered at current preleasing levels. The vacancy rates reflected in this analysis account for only space that is vacant available. 

Staffing analogy… I want new hardwood floors put in my house. I go to a floor company and after some back and forth on type of floor, color, price, and installation time, we finally agree on what I’m getting. They come over and it takes 4 people all day to remove the old floor and install the new floor. I tell them I love it and it’s exactly what I asked them for… but would like to see 3-4 more options, so ask them to do it over again. How do you think they would reply? #staffing #hiring #theresnojobsoutthereunlessyouwanttowork40hoursaweek

Business opportunity

📦 New Jersey is a key hub for warehousing and logistics due to its strategic location, extensive transportation network, and proximity to major consumer markets. 🗺️ Key Regions 🏙️ Northern New Jersey: This area is highly sought after, close to New York City and the Port of Newark/Elizabeth. Key cities include Newark, Elizabeth, and Secaucus, benefiting from highways I-95 and I-78 and rail connections. 🏘️ Central New Jersey: Areas like Edison, Woodbridge, and New Brunswick are popular for their central location, making them ideal for distribution. 📉 Recent Trends 🚧 Slowdown in Construction: In 2023, new warehouse building permits in New Jersey dropped to 16.2 million square feet, half the previous two years and the lowest since 2018. This slowdown follows a post-pandemic adjustment, high interest rates, and economic uncertainty, dampening investor enthusiasm and reducing new projects. Local opposition to warehouse construction has also grown. Vacancy rates in northern and central New Jersey rose by 1.4 percentage points in Q1 2024 to 4.4%, the highest since 2010. 💰 Rising Rents: Despite increasing vacancies, rents for industrial real estate in northern and central New Jersey hit a record $16.83 per square foot due to demand for high-quality spaces. However, rents in southern New Jersey saw a slight decline. 🔮 Future Outlook 📈 Analysts expect continued market adjustments in 2024, with rising vacancy rates. The slowdown in new construction should stabilize the market, and a new labor contract for Port of Newark dockworkers could boost demand. 🛠️ New Jersey's warehouse market is transitioning, presenting both challenges and opportunities for strategic adjustments and investments. 📩 Send us a message and let us know how we can help #NewJerseyWarehousing #LogisticsHub #CentralNJ #NorthernNJ #IndustrialRealEstate #MarketOutlook #SupplyChainManagement #PortofNewark #DistributionCenters #WarehouseTrends

Industrial building vacancies in the LA area, the US's largest market, have hit a decade-high at 4.1% in Q1 2024, up from 1.5% in 2023. Factors like increased construction, trade cooling, and higher borrowing costs contributed. The Inland Empire submarket, a key logistics hub, reached 6.2% vacancy, signaling a shift to favor buyers and tenants. https://lnkd.in/g4kdSA9b