Leads and Referrals

Commercial Real Estate, Real Estate

In real estate, Residential and Commercial Realtors look to build their business in different ways.

We will explore a few of the opportunities, Leads and Referrals.

One can buy potential leads, a list of names that meet your business criteria and then you attempt to qualify those names as a new opportunity.

Some real estate systems are setup to call or text an agent in response to an advertisement on a real estate sign.  Are you paying for each of those leads or is the system setup as a value added service?

Again, you need to qualify those potential buyer or tenant opportunities.

Are you calling for leads..check your Do Not Call list…Expired and Cancelled listings can be found on your local MLS?

A lead can come directly from a call to you our office from a customer that is searching the internet for properties in your area.

Are you promoting yourself and your services across all media as leads can come from random searches on Google and the emphasis is usually to those brokerages and agents who are displayed on the first page of Google.

 

Now lets move on to Referrals.

Your sphere of influence is very important as one source of referrals, while testimonials, social media and reaching out to other agents within and outside your company can also add referral opportunities.

Do you have a unique approach to real estate, i.e., Commercial Services, legal or appraisal background, designer, staging or professional photography.

Develop a system and a approach which will grow new business as there is not one best practice which works for everyone.

Know your strengths and showcase your accomplishments!

Paul Martis-Commercial Realtor

Commercial Real Estate Mentor

#NewcastleCRE

 

 

 

 

 

 

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“Mentoring and the Protege…..Getting into a CRE state of mind”

Commercial Real Estate, Real Estate, Uncategorized

“Getting into a CRE state of mind”

Starting a career in real estate creates many expectations and commitments for the agent as

they build best practices for success.

Developing their professional CORE early is a critical part of the education process while

maintaining relevance with their professional development goals.

The Elements of one’s real estate CORE are Competencies, Organization, Resources and

Evaluation and require an understanding on how to focus and maximize each.

When an agent gets into a CRE (Commercial Real Estate) state of mind, the differences

between residential activities and commercial should become evident, different forms,

property types, service professionals, terminologies and evaluation tools to name just a few.

Herein lies the confusion and pitfalls as some try on Commercial assignments without being

In Illinois, a real estate broker doesn’t need a separate license to conduct commercial real

estate transactions and many brokerages are not prepared to clarify or address these crossover

Many residential agents who are looking to ease into the commercial arena find the support for

learning this new discipline difficult without a seasoned Commercial Real Estate Practitioner.

We find that a limited opportunity exists as formal directories of Commercial Real Estate

Practitioners willing to help are in short supply or nonexistent.

This hopefully will lead an agent to explore the term Mentoring and Protégé and what this

professional relationship is all about.

Mentoring requires patience and commitment from the Mentor (Educator) and Protégé

(Student) and is normally a one to one or small group setting.

The Mentor should provide advice and direction while constantly reviewing all expectations.

These programs should be structured and have defined objectives with a schedule which meets

the needs of the Protégé and Mentor.

A formal Mentoring program could take 3-6 months to complete 30 hours of education in  1-2hr sessions.

The learning & support provided to the Protégé should not end with the completion of an

assignment or structured mentoring program as the process needs to remain dynamic, evolving

for both the student and the educator.

The reasons to choose a Mentor:

1. Focuses on Protégé’s abilities and interests

2. Qualifies resources available

3. Transaction support-deal making

4. Recognition by industry expert-Certificate or future Certification

5. Platform for Professional Development-Networking

7. Market Penetration-New Business Development, Co-List, Leads

We as real estate professionals need to move away from using or embracing such terms as

Resimmercial agent which suggests a realtor® agent doing a small percentage of their business

as commercial and instead, focus on enhancing the education process for all those who would

become Commercial Real Estate Practitioner’s.

Paul Martis-Commercial Realtor®/Educator/Mentor

NewcastleCRE@gmail.com

www.NewcastleCRE.com

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Why Use a CRE Mentor?

Commercial Real Estate, Real Estate

Mentoring Testimonial

 

Real estate is a complex business and it becomes even more complex once you add the variables of a commercial income property.  The rules are similar but applied differently than residential. The motivations of buyers, sellers, landlords and tenants are also different.

A tenant might ask for a location based on demographics, traffic counts, signage, foot traffic, required parking ratios and so on. For a retail center or an office building, a landlord will want to maximize their income with the right tenant mix and market rents. Multifamily residential landlords may want to maximize their income with tenants at market rates, reduce operating expenses that they pay to increase NOI and create a minimal vacancy loss factor. Multifamily landlords can’t choose where to put their tenants for the best mix per the requirements of fair housing. All these distinctions of the different product types in commercial real estate make it critical to have a mentor in your corner.

Find a mentor who can guide you in the product types you want wish to focus on.  They will help you grow in your focus from counting mailboxes on a multifamily building to get an idea of the number of units to understanding desirable parking ratios for a tenant going into a retail center. There is always something to learn in this business. Building your knowledge from an industry veteran’s experience is one of the fastest ways to get up to speed.

In the Chicago market, I would recommend the mentoring of Paul Martis of Newcastle Team, Coldwell Banker Residential/Commercial in Oak Brook, IL. He can mentor for an office as well as individuals. Paul is a 20 year industry veteran who is experienced and respected as a commercial broker, an instructor, a mentor and as someone who gets involved in the real estate community at large. Many Realtor brokerages do a mix of residential and commercial but their resources for commercial are limited to what the association provides.  Paul Martis provides knowledge through his programs that helps brokers understand how to get deals done.

Best of luck to all who venture into this industry and I hope to see you at a closing table someday.

John Guill

Advisor

Sperry Van Ness

25 N Third St.

Geneva, IL 60134

630-699-4914 Direct

630-938-4950 Office

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Commercial Multi-Family Financial Model

Commercial Real Estate, Real Estate, Uncategorized

Looking to save time and headaches, here is a time saver which was created several years ago by myself and fellow commercial associates.

Our financial model has been used, tested and improved over the last 10 years to reduce the burden of listing and calculating key financial elements of a 5+multi-family investment property.

The financial model helps the commercial practitioner to enter, tab to calculate and organize an easy report for the buyer or seller client.

Cap Rate, DSR, Cash on Cash Return, Depreciation, Amortization schedule, etc…..much more professional than working this out on the back of a napkin, providing a three page report and the ability to create what if scenarios which affect the value and potential qualifications of a lender.

Take a look at the Resource section at the main page for www.NewcastleCRE.com

 

Paul Martis-Commercial Broker/Educator/Mentor

#CBCNRT

#NewcastleCRE

#NewcastleTeam

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Expand or Relocate?

Commercial Real Estate, Real Estate, Uncategorized

Daily Herald Business Ledger

Expand or relocate? Some things to consider

By Paul Martis

Thursday, July 03, 2014 8:00 AM

Despite the continuing challenges of our local economy, many businesses in the Chicago area are hoping to expand in the near future, especially in burgeoning sectors such as health care and the tech industry.

One of the most important issues these businesses will face in planning for their growth is their physical location. They must decide whether they are best served by expanding their current footprint or relocating to new, larger facilities. Too often, however, business owners put off such decisions until the last minute and are forced to scramble to find new space or negotiate a deal.

It’s best to start the process early — at least nine to 12 months before your current lease expires — and give yourself time to weigh the options. There are many factors to consider when it comes to finding a new home for your business, including:

Local Market. Does your company have market penetration or an established customer base that might be lost if you move to a new location? Sometimes you don’t have to move far to lose connections with key customers or clients. On the other hand, your research may show it’s possible to relocate to an area that has a stronger market for your product or services. You might also be able to move nearer to assets like transportation hubs that can help you reach new markets and save time and money on logistics.

Physical Space. Have your facilities been improved or customized to fit the needs of your business? That could include special communication cabling, computer server rooms, restaurant equipment or other infrastructure that might not be available to you at another location. Be sure to factor in the cost of replicating these features should you decide to move. In the current market, few landlords are willing to foot the bill for major improvements unless they are part of a long-term lease for a major company.

Amenities. If you’re expanding your current footprint, you may be able to secure benefits such as larger signage and additional parking spaces from property owners at low or no cost. Parking is an issue that may seem minor but can affect your space planning. For instance, many villages require a set number of parking spaces per 1,000 square feet of use, and that number is often higher for facilities like medical offices than for retail spaces like restaurants or shops. If you expand, will your current location have enough parking to accommodate your growth?

Workforce. A company’s workers are among its most important assets. Be sure to consider how a move might affect your employees, especially if you have a strong team with valuable skills or training that would be difficult to replace. While you might be able to save money in a new location, would you risk losing longtime employees whose commute times have doubled? On the other hand, however, a new location might give you access to a new labor pool.

Lifestyle. How does your company’s location affect the lifestyle of you and your employees? Would you like to be closer to home or to amenities like restaurants or child care? While lifestyle issues may seem superfluous, they are often a big factor in determining where businesses decide to relocate. Chicago’s world-class cultural institutions, for instance, have long been a draw for major corporations that have decided to locate their headquarters in northeastern Illinois.

Cost. Will a new lease help you save money? Or, alternatively, will a more expensive new location be worth the investment in the long run? Be sure to review your goals for your company’s move or expansion and don’t forget to factor in all the costs. After additional expenses such as moving and building out a new space, you may only realize marginal savings on a new lease.

No matter your objectives, however, there’s no doubt that planning for the future of your business is an important decision, so don’t put it off and don’t go it alone. Take the time now to set goals, compute the possible costs and benefits, and work with someone to evaluate your options and your current lease well before it expires.

By giving yourself time to work through the all options ahead of time, you can position your business for future success and avoid the growing pains that can often accompany expansion.

• Paul Martis is a broker at Coldwell Banker Commercial NRT in Oak Brook and Current Chair of the Mainstreet Organization of REALTORS® Commercial Investment Committee.

Tim  Frisbie Senior Account Executive Kathy Schaeffer & Associates, Inc. | 17 N. State St., Ste. 1690 | Chicago, IL 60602

 

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Confidence in Commercial Real Estate Market

Commercial Real Estate, Real Estate

REALTORS See Confidence in Commercial Real Estate Market


Page Content
May 28, 2014
By Amy Robey, MORe Now Contributor
The commercial real estate market is well on its way to recovery according to an panel of economists and research experts at the REALTOR® Party Convention and Trade Expo in Washington, D.C., recently.
“Commercial real estate closely follows the economy, usually with an 18 to 24 month lag time,” said Lawrence Yun, Chief Economist for the National Association of REALTORS®. “REALTORS® from across the country are reporting increases in sales transaction volumes and income, which tells us that things are turning around. We have not reached pre-recession levels, but the recovery is happening, we are almost getting back to normal.”
John Sikaitis, managing director for Local Markets and Office Research for JLL, discussed the changing dynamics for office space in the U.S.
“Companies are moving away from the traditional office park,” he said, “In the next five to seven years, the large office buildings off the highway will be obsolete. If a property does not have the urban amenities preferred by young Millennials, including access to transit, shopping, restaurants, etc., then it is not going to survive without substantially reducing its rent.”
In line with the growing demand for urban amenities, companies are beginning to focus on the quality of space over size.
“Since the great recession, large and small offices alike have changed the way they use real estate,” said Sikaitis. “Businesses are averaging less space per worker and beginning to focus on how their office space can contribute to the health and well-being of their employees.”
Features such as air sanitation, circadian rhythm lighting and layouts that promote movement and fitness are becoming common place in many office spaces, he said. Read REALTORS® Declare Confidence in Commercial Market for more information.
Chicago Suburban Commercial Market Insight
Paul Martis, Chairman of the Commercial Committee for the Mainstreet Organization of REALTORS®, sees continued growth in the retail sector in the Chicagoland suburban market.
“In the future I think some retailers may opt for downsizing overall typical retail space. They are looking at how e-retail is affecting their brick and mortar,” said Martis. “Many more are closing their doors or adjusting their market expansion to have smaller footprints to offer the same day or next day delivery. It could be a place to stop in and place your order and receive it the same day or next day.”
He indicates retail vacancies average 11-12% while he sees office occupancy rates lagging behind at 20-25%.
“Office and retail development is based upon movement in the workforce and we are not seeing a lot of new construction but more reoccupation of infill sites that may have been sitting empty for years and builders are taking over those sites and putting up new product,” said Martis, broker with Coldwell Banker Residential Brokerage in Oak Brook.
The multi-family market continues to be the hot sector of the commercial market with absorption at around 4% in vacancy rates for Chicagoland area, according to Martis.
“Multi-family is a rich opportunity in any market right now,” says Martis. “I don’t think we can go much lower in terms of vacancy rates from where we are in the 4% range.
Martis also anticipates a redesign of typical office space.
“Many spaces are becoming what we were seeing back in the 70s, an open space environment where you can get two or three people around a common area and they are able to work and be linked to a network and you don’t need a large desk and private office,” he said.
He also sees expansion of the boutique hotels in the suburban area.
“We are seeing opportunities for smaller footprints in hotel design where people don’t need to stay in a large facility,” he said.”The food type businesses are also really drawing attention to old retail centers.”
Kristian Lee, commercial broker with Schulz Properties, Ltd. in Downers Grove, sees further expansion in the industrial market. A commercial broker for the past 12 years, Lee, who is the incoming chairman of the MORe Commercial Committee, is starting to see less availability of Class A industrial property space which will lead to new development.
“The industrial market is starting to get healthier. it is a lot better than it was. Leased rates are going up as compared to last year as occupancy rates are going up,” said Lee. “The first quarter vacancy rate is 8.1% for the entire Chicago area for the industrial market area. Transactions are still slow though. People aren’t making decisions quickly. They are examining the economy and where their company is growing.”
Lee indicates this is the 15th consecutive quarter of positive net absorption for industrial growth in the Chicagoland market. Nationally annual industrial rents should rise 2.4% this year and 2.6% in 2015.
Past chairman of the MORe Commercial Committee, Theresa Schulz with Schulz Properties, Ltd. of Downers Grove, has an identified niche in the smaller retail and office range (1,000 to 1,800 square feet).
“I’m seeing a lot of retailers expanding and adding more units,” said Schulz. “The rents have finally stabilized if not increased. Retail in the right “Type A” product has dramatically gone up.
“The grocery concept is in high expansion mode right now in the city and suburbs. With the expansion of Mariano’s grocery stores, they are creating a destination area and, as a result, have a much bigger retail footprint for their area of location. More developers are wanting to be part of that development going on.”
Schulz says three years ago she was busy repositioning clients into lower cost buildings as they didn’t need premium locations because they were more focused on their budget and economic terms of the deal.
“Now that those leases are rolling due, they are questioning whether they are in the right location and do they want to rebuild their brand and get back into that higher priced retail space,” said Schulz.
Schulz also foresees continued growth for the casual restaurant concept.
“The fast casual is still going to be active for the next couple of years,” she said. “I see continued growth for these niche markets.”
Also from a retail point of view, the gaming groups are starting to take a huge lead in absorbing available retail space throughout the suburbs, Schulz says.
Schulz sees the office vacancy market slowly recovering.
“Rents are stabilizing, but I’m not seeing an increase in office rents as I have the retail side,” she said. “Office is a slow recovering area in the Chicago suburban market.”
According to the National Association of REALTORS® commercial members completed a median of eight transactions in 2013, equal to the previous year according to the 2014 NAR Commercial Member Profile.

REALTORS See Confidence in Commercial Real Estate Market

– See more at: http://www.succeedwithmore.com/MOReNow/news/Pages/REALTORS-See-Confidence-in-Commercial-Real-Estate-Market.aspx?utm_content=bufferb27e7&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer#sthash.Jy77VdmE.MCmqUQ5B.dpuf

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Blog Testimonial

Uncategorized

Mentoring

Recently I decided to enhance my opportunities in Real Estate by considering Commercial Real Estate specifically.  Though I have been in Residential Sales since 2008, times have been challenging so I decided to consider all my money making alternatives.  My business and sales background made it an easy choice for me to focus on Commercial Real Estate.

The first step was where do I go for some answers?  This appeared to be anything but routine when searching on the internet for easy short cuts to books, seminars or “how to” websites.  I really found nothing useful.  The more I searched, the more things got fuzzy and frustrating. Perhaps this was by design to limit competition or perhaps I wasn’t doing it right? Maybe I needed to start first with my Real Estate Professional Services Group to see if they could offer the right direction.

After contacting my help desk at Mainstreet- Succeed with MORe Commercial, I was directed to the Newcastle Team where I learned about a 30 hour Commercial Mentoring Program.  Turns out I could review on-line useful commercial websites and later learned I can connect with free seminars and social networking events. This mentoring program was designed specifically for those who would like to pursue a serious career in Commercial Real Estate.  The Newcastle Team was ideal because it had topics such as: The A B C’s of getting started, how to find clients, leads & referrals, goals, objectives, important forms, search tools, educational tips, training topics and even new business trends in Illinois.   It turns out there are Commercial Professionals who are willing to share their ideas, enthusiasm and provide real examples of success stories.

Commercial Real Estate Sales may not be for everyone but as I discovered it clearly required a very different approach with a specific skill set. If this is something you are serious about and want to master, the Newcastle Team can help provide a focused path to success.  I highly recommend you check out www.Newcastlecre.com for a thorough, practical step by step simulation experience.  Paul Martis and his team of professionals can help you determine if Commercial Real Estate is the challenge you are ready to experience.

 

Hope to see you on Mainstreet – for MORe Success !

 

Karen Gould

Commercial Broker

 

 

 

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RPR Commercial

Commercial Real Estate, Real Estate, Uncategorized

RPR Commercial Success!
My Assignment:
Locate a 1000 square foot retail location at least 10 miles east of Naperville for a new wine retailer, need to be able to sell wine by the glass and seating outside.
I located several potential retail sites along 63rd St, 75th st and Rte 83 in the communities of Downers Grove, Darien, Willlowbrook and Burr Ridge using Loopnet.com and collected traffic count information through IDOT.
As I searched the RPR Commercial website, I was able to look for… what if… retail scenarios and it quickly became obvious that what I was finding went well beyond the scope of other commercial websites.
With RPR Commercial, I was developing location preferences based on more than lease rates and traffic counts and I quickly maneuvered through the data.
I was able to conduct a detailed analysis of consumer spending in several communities and then create mapping reports which visually identified potential opportunities within selected trade areas, a great tool worth using.
@ 1-3 miles out from the selected small business location… Signage, Print Media Advertising and Social Media are common strategies incorporated into local marketing efforts.
Not to be overlooked by the real estate professional is the area wide mapping data that is generated through the RPR commercial site. I almost missed the big picture as I realized that a strong secondary advertising market existed at 1-3 miles further east and direct mail was suggested to this targeted area.
The visual representation of data displayed by RPR Commercial makes the process more comprehensive, exciting and easier for our clients as they look to start and grow their businesses.
Realtors Property Resource, a real value added service.
Thank you!My RPR Commercial Real Estate Tools

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Chicago area photos

Commercial Real Estate, Real Estate, Uncategorized

Bean Chicago979745350 (2)-134552_126841467359177_100000999732678_136592_2158463_n (1)img1

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Commercial Real Estate Chicago Area

Commercial Real Estate, Real Estate, Uncategorized

MORe Commercial REALTORS® Seeing Spark in Commercial Real Estate Market


By Mary Schaefer, MORe Now Contributor
With office and retail vacancy rates falling and rents rising moderately, the
Chicagoland commercial real estate market is showing continued signs of improvement in market activity while the multi-family sector continues ongoing expansion.
“This has been a good year for the commercial sector,” said Paul Martis, a
commercial REALTOR® with Coldwell Banker of Oak Brook and chairman of the Mainstreet Organization of REALTORS® commercial committee. “With an uptick in residential sales and new home construction, this translates into a surge in commercial market activity and in particular for the retail sector.” Martis also sees more commercial investment opportunities. “It is not just the national banks but local community banks that are looking for opportunities to fund investment in their communities,” said Martis.
Retail
According to the National Association of REALTORS®, retail vacancy rates are estimated to ease from 10.5 percent in the second quarter of this year to 10.2 percent in the second quarter of 2014. Average retail rents are projected to rise 1.4 percent in 2013 and 2.2 percent next year.
Ahmed Badat, a commercial REALTOR® with AMB Investment and Realty Resource of Lisle, sees some variance in retail stabilization. “Those retail centers that are anchored by national tenants held their own through the recession,” said Badat. “Those built right before 2008 on a speculative nature are still experiencing some vacant storefronts.”
One of the biggest upticks in the retail sector is in the expansion of niche grocery stores in Chicago and the suburban markets.
“I’m seeing future expansion of specialty grocery stores such as Mariano’s, Fresh Market, Fresh Thyme Farmer’s Market and Fresh Farms in the retail sector,” said Martis. “Smaller retail centers are leasing pretty well. Other older centers are repositioning where they are putting in fresh facades and improvements obvious to the public including landscaping and signage- oriented to attract tenants.”
Theresa Schulz, broker-owner of Schulz Properties of Downers Grove, is seeing franchise expansion growth in the retail sector with ‘hamburger concepts,’ Jersey Mike’s, Firehouse Subs, yogurt franchises and more fitness clubs. 7-Eleven also recently announced a major expansion of retail stores in North America.
“This year’s lease opportunities have been active by far more than previous years,” Schulz says. “I get most requests for 1,000-1,800 square foot size space range and don’t have enough product for that size range to accommodate the calls that come in. I’m working with owners to try to get them to split their space to offer smaller options,” She sees retail rates increasing and there is less available in prime locations.
“Investors are being creative to secure leases,” she says.
While 20 years ago you might not have seen a dental or CPA office as a storefront in a retail center, that is not true today.  More retail centers are becoming more service driven with leases being captured by CPAs, dentists, physical therapists, chiropractors and other medical service providers.
Additionally, large big box stores are looking for ways to offer a boutique or smaller footprint into urban market areas. Office Max plans to open its first store of the future, “Office Max Business Solutions Center’ in downtown Chicago Streeterville neighborhood by September of this year, catering to small business customers in its 3,900 square foot shop.
At the same time communities are eyeing opportunities to provide new incentives to developers.
“Tax Increment Finance dollars are being used for redevelopment of sites putting in infrastructure to draw retail to area where no development is right now,” said Martis. “Communities are going through county delinquent tax programs to file proceedings on properties to gain control of properties and use TIF monies to redevelop the site to draw in new retailers.”
Also national hotel chains are looking for opportunities for expansion into the Chicago suburban market. A new Embassy Suites Conference Center is planned along the I-88 corridor near Naperville that will includes a 13,000 square foot banquet hall.
Office
Commercial REALTORS® interviewed indicate the office market is softer in the suburbs than in downtown Chicago.
“There is still a high office vacancy rate in the suburban market waiting to be leased,” Schulz says.
Martis agrees and adds not a lot of new development is occurring in terms of office expansions in the suburban market.
“New major office construction is occurring more near O’Hare/Rosemont, Glenview and Northbrook areas,” Martis said. “But there is significant development in small medical centers and expansion of hospitals. Online universities are expanding leased office space in suburban areas.”
 
Industrial
Industrial vacancy rates nationally are expected to slide from 9.4 percent in the second quarter of this year to 8.9 percent in the second quarter of 2014. Annual industrial rents are seen to rise 2.4 percent this year and 2.6 percent in 2014 according to NAR.
“Industrial complexes used to be built in hopes it would contain the right amenities to attract a tenant before the building was completed,” Martis adds. “Most of the 100,000 square foot industrial complexes are now “built to suit” instead of building industrial construction ‘on spec’.
Martis says that industrial vacancies are fairly close to what you see in office vacancies with typical properties selling faster rather than leasing. Continued growth is occurring in light industrial areas that fringe around residential areas.
“In Chicago, I’m seeing large multi-story buildings being repurposed and converted on the near west side of Chicago into storage facilities for the public,” said Martis. “These facilities have a climate controlled environment where individuals can store anything from wine to antiques. Many of them offer entry point to drive cars in and unload inside.”
Multifamily
The apartment rental market–multifamily housing–should see vacancy rates edge up to 4.1 percent in the second quarter of 2014 on a national level.
“We will see approximately 2,000 new apartment units coming on the market in Chicago within the next 12-24 months and in the suburbs about the same number,” says Martis.
Multifamily has been the strongest sector of the commercial market throughout the recession. “There has been continued demand for quality apartments,” said Martis. “In the meantime rents have continued to go up because of demand. This end of the market has been so favorable you don’t see a lot of owners letting loose of their portfolios in this area.”
Badat says while new construction of new multi-family units has been moderate, the demand was met pretty quickly. Rents have increased to meet supply and demand. “There has been a steady increase in rental increases in Chicago market,” Badat said.
Some commercial REALTORS® have investors waiting to purchase multi-family even before inventory is available.
“Multi-family is an easy entry-point for new investors wanting to venure into the commercial market,” Martis says. “Quite a few of the apartments are being managed by owners themselves.”
He also sees resurgence in assisted living and senior housing development after a slow-down in past couple of years. “On the commercial side, our soft spot was hitting about the same time as the residential market,” said Martis. “As the economy starts to come back you will see more companies starting to expand.”
NAR estimates average apartment rents are likely to increase 4.6 percent this year and another 4.6 percent in 2014.

– See more at: http://www.succeedwithmore.com/MOReNow/influencers/Pages/MORe-Commercial-REALTORS%C2%AE-Seeing-Spark-in-Commercial-Real-Estate-Market.aspx#sthash.zxtVkn6r.g5xvYqJN.dpuf

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