As the only enclosed mall within 35 miles, Uptown Christiansburg in Christiansburg, Virginia, is anchored by nationally recognized tenants like Dick’s Sporting Goods, Kohl’s, Belk, HomeGoods and Planet Fitness. With 58,648 people living within a five-mile radius of the property, Uptown Christiansburg offers residents a variety of unique shopping experiences to satisfy consumers’ “live, work, play” lifestyle. Check out more of our portfolio on our website: https://bit.ly/4dxZl31.
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So much is happening in Easton Park! There are now commercial spots with lease contracts in place to include an HEB, McDonalds, Carwash, Petfood Store, Auto Zone, Frost Bank, Dutch Bro’s Coffee and a Dentist office. More buzz is that there will also be a nail salon, plus, two more quick service restaurants AND this is just the beginning of the growth!!! (The Grove at Easton Park- link below) What does that mean for you and your buyer? Equity. Just that! As these businesses go in, the popularity of Easton Park is just going to grow that much more, and prices WILL increase. One of the most used lines I hear is “I should have bought last year when the price was $$ and now it’s $$$, I should not have waited!” So why let them wait? Right now, is the time to contract on a Perry Home and take advantage of the prices and incentives we are offering before they are truly gone. I know I sound like a “Sales Agent”, but I have just been doing this too long to not see the trend of what is to come. If your client is on the fence about purchasing their next home here, contact me, let chat it though. Let’s iron out some options that could work for them. One of the biggest things I tell my kids is if don’t ask and don’t try, you will never know 😉
The Grove at Easton Park | Properties | CLD Realty
cldrealty.com
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This week's Toronto Star executive interview features Jonathan Gitlin, president and CEO of RioCan Real Estate Investment Trust. Jonathan and I met up at the company's new flagship megastructure, the Well, to talk about his personal career journey, his former boss and mentor, Ed Sonshine, how to save downtown, why he's so bullish on brick and mortar retail, and to debate the definition of the word "mall." https://lnkd.in/gCCpcyw5
Will Toronto’s downtown recover? Will our shuttered stores reopen? Why the head of RioCan feels positive
thestar.com
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🏢🔍 Investing in a new business location? Don't skip the Schedule of Condition! In Warrington's bustling commercial scene, understanding a property's condition is key. Recently, Clarke & Watt Building Consultancy completed a thorough assessment for a retail shop, helping a tenant make informed decisions before signing a lease. With our detailed report, businesses can negotiate confidently, avoiding surprises and disputes down the line. Trust Clarke & Watt for expert assessments in commercial property transactions. #WarringtonBusiness #PropertyAssessment #ClarkeAndWatt 🏢🔍 https://wix.to/6bLCHwb
The Importance of a Schedule of Condition: A Case Study
cwbc.co.uk
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I closed this deal a few months ago and it highlighted how important relationships are and who you know. Here’s the short version of the back story: I had just finished a CCIM course and was practicing what I learned on underwriting properties when this property came up fresh on the market. At first glance it looked like a decent deal, then after running numbers, it looked like an even better deal! I sent these pro forma numbers to several investors I knew and one of them decided to put in an offer. We were one of 3 serious offers and won the contract. That was the beginning of the roller coaster… The property had been a warehouse since it was built in the 50’s, but it had been zoned R-2 the entire time… With the change in ownership and bringing the building up to code, the zoning was going to need to be changed before closing… The problem was the city had rejected the C2 zoning request (or anything industrial) from the seller and it looked like if my buyer did purchase the building, we would have to convert it to retail or office space. This simply did not work with the numbers and location, so, I got my zoning consultant involved and he was able to present our case to the correct city council woman and in a way she agreed with. Much to the surprise of the seller and the sellers agent, the rezoning was approved, because of our efforts, and we were able to close the deal. This was all possible because of the contact I had with the consultant and the relationship he had with the city council members. I will always remember this deal when I hit a wall while under contract and I will remind myself to approach problems from a different angle when they arise. So, did the investment side work out as I had projected? Yes! We are in the middle of splitting up the building to provide smaller spaces that are in higher demand and are close to signing leases on 3 out of 4 spaces. P.S. Call me if you need warehouse space in Chattanooga or North Georgia. I have 14 spaces for lease ranging from 2,200 sf to 260,000 sf.
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👋 We're excited to share the transformative journey of our third property investment in Liverpool. Join us as we navigate the complexities, overcome challenges, and turn this space into a thriving home! 🏠 Property Details: Original Leasehold Purchase Price: £77k Freehold Acquisition through Conveyancing: £2k Estimated Refurbishment Cost: Around £10k 🛠 Refurbishment Challenges: This property presented us with challenges, including broken floorboards and leaks from the bathroom to the kitchen. Our ongoing refurbishment, though substantial, is a testament to our commitment to providing high-quality, comfortable living spaces. 💡 Strategic Move: During the conveyancing process, we seized the opportunity to acquire the freehold, offering greater control and long-term benefits for our investment. 🏡 Market Surprises: What's truly exciting is the unexpected rise in the rental demand whilst we were doing the refurb. A tenant is ready to move in at the beginning of February, offering a monthly rental of £725 - much higher than our initial estimate of £675! This unforeseen increase will significantly impact our projected profits. 💰 Expected Monthly Profit: We anticipate an average profit of approximately £320 a month, and we'll diligently review this figure over the first year to ensure accurate tracking and adjustments. 🔍 What's Next? Stay tuned for more updates on our property ventures, insights into overcoming refurbishment challenges, and tips for maximizing returns in the rental market. Thank you for being part of our journey! Let's continue turning challenges into opportunities! 🚀🏡✨ #PropertyTransformation #PropertyInvestment #LiverpoolProperty #ChallengesToOpportunities
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Many brokers overlook the details… BUT here's why they matter: In 2017, I was entrusted by a private REIT with the task of selling a 10,000 SF multi-tenant retail center in Oak Brook, situated on one of Chicagoland's premier retail thoroughfares. The property was occupied by three tenants on net leases, in a Class-A quality building & location, and anchored by two national tenant brands. Sounds like a layup, right? Not quite. Despite the deal's strong investment attributes, it presented complexities. The anchor tenants' leases only had a few years left of term, and 80% of the income was tied to these leases. Moreover, a newly signed lease to a regional tenant paid significantly lower rent. To navigate these challenges, I spoke with the leasing team and meticulously reviewed each lease agreement and its amendments, uncovering insights into tenants' behavior and long-term commitments. For instance, despite substantial rent payments, the primary long-term lease had been renewed without renegotiation attempts. Additionally, a comparative analysis of similar spaces in the market revealed untapped potential for re-leasing the best corner space. Similarly, examining the second tenant's lease agreements revealed their long-term commitment and absence of exercising a termination option. This commitment was also supported by insights from their recent $200K investment in store renovations, knowledge I obtained through my existing relationship with the tenant rep. By incorporating these DETAILS into the sales narrative, I instilled confidence in an out-of-state buyer. They recognized the long-term stability of the property beyond the immediate lease expirations. This attention to detail ultimately facilitated a successful closing, achieving just under $650 per square foot and 98% of the list price. Best yet — all tenants remain in place to this day. What did we learn? This example underscores the importance of investing time, energy, and effort into examining the details and understanding the story behind each deal. Greenstone Partners #chicagorealestate #multitenantretail #dealstory #oakbrook
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Securing an anchor tenant can be a game-changer for a commercial property, but be prepared to accommodate some of their requests. An anchor tenant is a major retailer or business that draws significant foot traffic, often serving as the primary attraction for a shopping center or commercial development. Their presence can attract other businesses and increase the overall value of a property. However, with their influence often comes specific demands that landlords need to consider carefully. For example, anchor tenants might request exclusivity rights, meaning no other businesses of a similar type can lease space in the same development. They might also ask for favorable lease terms or certain co-tenancy clauses that could impact the overall tenant mix or the landlord’s flexibility. These requests aren’t unusual and, in many cases, are worth accommodating because the benefits of having a strong anchor tenant can far outweigh the trade-offs. The key is to negotiate terms that work for both the tenant and the landlord, ensuring that the deal enhances the property without creating long-term limitations.
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Commercial leases often put repair responsibility on tenants. Review your lease to see who's on the hook for what. Clear terms upfront prevent headaches later. #commercialrealestate #landlordtips #tenantresponsibilities #retail #Landlord #landlord #commercialproperty #CRE
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DRIVING FORWARD: Change of ownership of a landmark building is generally of interest to the public, particularly if there has been online speculation over the land's future usage. In this example the site of a former vehicle showroom and repair garage, close to the A31 between Southampton and Ringwood in south-west Hampshire, has been acquired freehold by a local company through property consultancy Vail Williams. The buildings are being refurbished and retained for commercial use, with a view to occupancy by an automotive dealership or similar. If you in the #automotive sector and are interested in this site, by the A338 which runs between Ringwood and Salisbury, please contact Vail Williams' Ben Duly. With thanks to the Bournemouth Echo for coverage following a market announcement by Deep South Media [DSM] on behalf of Vail Williams. Looking to make a market announcement? Perhaps a business acquisition or exit, staff promotions, new product or the purchase of land for commercial or/and residential development? DSM, in its 26th year, is utilised by leading companies throughout the UK, saving time and money in the process and generating leads. For a confidential, no-obligation chat about a potential market announcement please DM Ron Wain - Deep South Media 📰 or 📧 pressoffice@deepsouthmedia.co.uk #commercialproperty #automotive #businessnews
Historic property changes hands for first time in nearly a century
bournemouthecho.co.uk
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Being a successful #commercial #landlord is more than just collecting #rent. The same principles apply across commercial sectors from #warehouse facilities to community #shoppingcentres. The High St Auction Co. shares essential #tips to set new commercial landlords on the road to #profitable, #problemfree #propertymanagement.
Things every new commercial landlord should know - AFRICAN BUSINESS QUARTERLY
https://www.abizq.co.za
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