Summer Wainwright’s Post

Jax at #2 isn't particularly surprising. "Small-bay on the Southside" has been incredibly difficult to find during my short 3 year career. More houses and more people means higher demand for localized goods & services, which means more companies fighting over the same warehouses in a constrained market. Small-bay rents will probably continue to increase until the net positive migration to North FL slows down. We need to find a way to increase the supply of this product. Redevelopment is hard (demo is expensive, time consuming, and eats into your returns) and ground up is just as bad (wetlands/zoning problems, no economies of scale), but I can just feel the money there if we can get creative enough to service this demand.

Definitely a challenge in certain markets. Growth in acquisition for IOS has put the small footprint user in a bind. The property value is sometimes higher than the business revenue stream, and the replacement properties are scarce, expensive and a challenge to subdivide. I know of a few opportunities. #tampaindustrial #cre #ios #logistics

Back again with Industrial Marketbeat for Q3 2024! Lots going on in KWC Region on the industrial side of things. Industrial Highlights Vacancy: 4.3% Absorption: 196,091 sf (Current Qtr) AVG Gross Rents: $15.99 Though vacancy has crept up, we are still seeing lots of demand within all four submarkets (Kitchener, Waterloo, Cambridge & Guelph). With 1.3M square feet coming to market vacant we still saw positive absorption over Q3. Reflecting strong demand for industrial space. With a drop in average gross rents, landlords may be attempting to match rates closer to a balanced market, which may help absorb some new construction. Can't to see what's in store in Q4!

💼 Smaller industrial properties have high occupancy rates and rising rents. 🏗️ Large-scale development of luxury apartments and big-box distribution centers leads to increased vacancy rates. 🌆 Challenges in securing land near major cities hinder small-bay industrial facilities development. 📈 Availability rates and leasing times determine scarcity of small industrial spaces across US markets. 🏢 Nashville, Virginia, #SouthFlorida, and Southern California face acute shortages. ⚡ Louisville, Kentucky, is tight due to its location in the electric vehicle manufacturing region. 🏙️ #Miami, along with Midwestern cities like Chicago, Detroit, and Minneapolis, has middle-ranking scarcity. 🛠️ Geographic and infrastructure advantages support leasing in Midwest cities by small manufacturing and distribution tenants. 🇨🇱 Texas markets show significant growth in industrial property stock due to growth-friendly policies. 📉 Some markets with higher availability rates still have limited inventories of small industrial spaces. RISE Realty Michael Corkery, CFA Kevin Krueger Mason Scott

Which Rust Belt cities boast thriving industrial and commercial real estate markets today? Wisconsin leads the way, with two of its cities — Madison and Kenosha — cited in a recent study of the fortunes of cities in the famed Rust Belt. Kenosha, Wisconsin, notched the largest expansion of commercial real estate inventory among Rust Belt cities with less than 200,000 residents. This Wisconsin city added roughly 10 million square feet of industrial, retail and office space from 2017 through 2022, an increase of 67%. Read the full story here: https://lnkd.in/gRkMtgYC

☀ COMING SOON ☀ 👀 Prime roadside site of approx 1.8 acres in great location on A-road near Stockport in NW. Currently Off Market. Contact us for details 👀 🔨 Scope for redevelopment of current buildings - split & lease out as smaller commercial units, convert to self storeage or demo & rebuild to retail led mixed use, residential, healthcare or other uses STP. 🏫 Buildings on site of approx 41,000 sq ft have hosted commercial enterprise on this location for many decades. Freehold is now being offered to market for sale for the first time in over a generation. Sale is with vacant possession. 🏗 Roof refurbishment is necessary in some parts if retained. 🔢 The property is opted in for VAT. Not listed or in the conservation area. 📨 For more information please contact Neale Redman. #landforsale #developmentopportunity #plotappraisal #plotsourcing #propertydeveloper #propertydevelopers #propertydevelopment #propertyinvestment #investmentopportunity #commercialdevelopment #siteappraisal #sitesourcing #strategicdevelopments

Summer is coming to an end and we’re looking back at some of our #propertymanagement successes this season. One of our managed properties in Bloomington was seeing some wear and tear: the retaining wall that supported the building’s parking lot was crumbling. “The original retaining wall was brick and mortar,” says Property Manager John Hapka. “This new wall was constructed with London Boulders, which are engineered to fit together. The result is very durable, especially for a parking lot.” Additionally, the interiors of the boulders were filled with loose gravel, which allows for water and ice to flow through naturally. This will help avoid long-term damage to the asphalt above. The result is clean lines and an attractive landscaping border. Suntide’s property managers handle many of these day-to-day projects for commercial investors, such as vendor management, maintenance, and capital improvements. https://lnkd.in/e-eMMG5   #CRE #CommercialRealEstate #property #invest #investment #StPaul #Minneapolis #Minnesota

In The News today: Jeff Finan of Hayes & Sherry completes long-term lease for 125,000 s/f at 10 Briggs Dr. East Greenwich, RI Hayes & Sherry represented the landlord, Leahey Briggs Associates, LLC. The leased space consists of 100,000 s/f of warehouse area and 25,000 s/f for office. The property is shared by top Rhode Island businesses with global reach and provides proximity to highways and Quonset Business Park. The lease was facilitated by Jeff Finan, a partner at Hayes & Sherry. “In this market, there is a very low vacancy rate for attractive, large spaces, and even fewer that checked off the boxes the tenant was looking for,” said Finan. “As a result, we were able to negotiate a strong rent structure for our client.” via: New England Real Estate Journal https://lnkd.in/d2HGZdcE #cre #commercialrealestate #RhodeIsland #rirealestate #providenceri #commercialbrokers #officespace #sior

Over half a million apartments are slated to complete construction this year, up 9% from 2023 and 30% from 2022. As highlighted by GlobeSt.com, over 60% of this new supply is concentrated in just 20 metros with the total number of apartments being added enough to roughly house the entire population of Atlanta. Of the metropolitan areas set to receive a majority of the new inventory - Arizona, New York, and Texas are notable standouts. The Mogharebi Group recognizes the potential for opportunity in these growing #multifamily markets, with a particular interest in #Phoenix.

In the vibrant Silver Coast submarket of Southeast Washington, D.C., stands an iconic mixed-use residential property, a testament to cherished memories and timeless elegance. With an unwavering commitment to excellence, we embarked on a transformative journey to unlock the property's full potential. Delving deep into every aspect of the property's character, we left no detail overlooked, exploring its architectural intricacies and zoning regulations. Collaborating closely with architects and engineers, we crafted an innovative sales strategy that set new industry standards. Armed with a profound understanding of the market, we boldly introduced a pricing strategy that exceeded expectations, laying the foundation for unparalleled success. As offers were reviewed, a surprising offer emerged from a local prominent developer, offering $600,000 for the property. Nevertheless, we secured a remarkable sale price of $1,125,000, showcasing our ability to maximize value for our clients. It's worth noting that the property had not changed hands for almost 50 years, and our clients were the second owners, inheriting the residence from their parents. In the end, the family's cherished residence commanded a record-breaking price for the Penn Branch neighborhood, solidifying its status as a true gem in our nation's capital. #SilverCoast #WashingtonDC #RealEstate #MixedUseProperty #CherishedMemories #TimelessElegance #Excellence #Innovation #Specialization #MarketUnderstanding #MaximizeValue #RecordBreaking #PennBranch #Gem #DealStory #ActionOverWords #DCFocus