Archive for February, 2012

CRE Price Index Rises for Sevent Consecutive Month

Friday, February 24th, 2012

Things are looking up for 2012! Commercial Real Estate leader, CoStar reports. According to CoStar CRE, price index rose for the seventh consecutive month. Distressed sales transactions continued to decline.

 Click here for the article

Weekly Commercial Real Estate Terms

Friday, February 24th, 2012

Anchor Tenant

Tenants that are considered “credit worthy” and attract or generate traffic for a retail facility (e.g. a supermarket in a neighborhood shopping center, a major chain or department store in a regional mall).

Price Reduced: 608 E 5th Street

Thursday, February 23rd, 2012

Sheila Colfer, CCIM & Fred Miller, SIOR just reduced the price of this great property located at 608 E 5th Street that includes a 10,000 sq. ft. warehouse, an Automotive Repair Shop and a House/Office all situated on a .59 acre lot.  Want more details? Contact Sheila Colfer, CCIM or Fred Miller, SIOR with all your questions!

Click here to view Informational Flyer

Weekly Commercial Real Estate Terms

Friday, February 17th, 2012

Amps

The basic flow of electrons in a conductor is called current. The basic unit of electrical current is measured in Amperes, often referred to as Amps. Any service rated over 400 amps is typically commercial service although 200-400 amps are generally seen in flex buildings and 800+ for heavy industrial buildings. Amps fields allow a range from low to accommodate different sources of power.

Volts

Voltage is an electrical force whose basic unit is the Volt. Volts fields allow a range of low to high to accommodate a facility that has a transformer enabling the power to be stepped up or down. Typical voltages for commercial services are 120/208 (for lights) or 277/480 (for machinery). Both require a Three Phase (see definition for Phase) service as opposed to a Single Phase service that is residential or small commercial.

Phase

Phase is the splitting of volts, with the term ‘wire’ being how many splits. Single Phase service is typically residential or small commercial. Three Phase will be used with higher voltage capacity needs. Normally described as 3 Phase, 4 Wire (with the 4th being the ground).

Price Reduced: 499 W Plumb Lane

Tuesday, February 14th, 2012

Ron Boles just reduced the price of this great property located at 499 W Plumb Lane that has 452 sq. ft. leased.  The building has a total of 2,918 sq ft of professional office space.  Need more details? Contact Ron Boles with all your questions!

Click here to view Informational Flyer

Stead Towncenter

Friday, February 10th, 2012

Last weeks commercial forecast seminar, hosted by US Bank highlighted the year 2011 and the forecast for 2012 for Nevada in general. A couple of interesting nuggets that were culled;

Although the current economic health was not great for Nevada, in general with Southern Nevada taking the brunt, Northern Nevada fared better with a vacancy decrease topped by multi-family with Industrial not far behind.

However, the darling of last year was Health care facilities and multi-family. So what does 2012 look like from a forecast perspective?

Health Care from Hospitals, Urgent Care as individual or partners of doctors strive to move their practice into a more efficient office structure and the ancillary facilities from pharmacy to imaging will follow suit.

The other highlight was the vacancy factor of big box industrial structures’ has dipped below the double-digit threshold. The consensus was that multi-family sales will out pace the balance of the commercial sector with single-family behind the power curve. Industrial and Medical Facilities will be bloomers.

As proof, I have just listed with Marc Sykes a “new to develop” 41 acre Town Center on the freeway exposure along US 395 at the Stead off ramp. We are working with several developers to attract retailers in the entertainment; food services and health care sector to fill this need in the 62,000 home trade are for Stead. Come take a look at our project at: www.steadtowncenter.com

Weekly Commercial Real Estate Terms

Friday, February 10th, 2012

Absorption

Refers to the change in occupancy over a given time period. Lease renewals are not factored into absorption unless the renewal includes the occupancy of additional space. (In that case, the additional space would be counted in absorption.) Pre-leasing of space in non-existing buildings (e.g., Proposed, Under Construction, Under Renovation) is not counted in absorption until the actual move-in date.

Gross Absorption

For existing buildings, the measure of total square feet occupied (indicated as a Move-In) over a given period of time with no consideration for space vacated during the same time period. Sublet space and lease renewals are not factored into gross absorption. However, in a lease renewal that includes the leasing of additional space, that additional space is counted in gross absorption. Preleasing of space in non-existing buildings (Planned, Under Construction or Under Renovation) is not counted in gross absorption until actual move in, which by definition may not be any earlier than the delivery date.

Net Absorption

For existing buildings, the measure of total square feet occupied (indicated as a Move-In) less the total space vacated (indicated as a Move-Out) over a given period of time. Sublet space and lease renewals are not factored into net absorption. However, in a lease renewal that includes the leasing of additional space, that additional space is counted in net absorption. Pre-leasing of space in non-existing buildings (Planned, Under Construction or Under Renovation) is not counted in net absorption until actual move in, which by definition may not be any earlier than the delivery date.

NEW LISTING: 10196 HWY 50 East

Wednesday, February 8th, 2012

John Martie is pleased to announce the New Exclusive Authorization to Sell 10196 Hwy 50 East in Moundhouse Nevada, a fully leased Retail Strip Center acre property consisting of one 4,000 sq. ft. retail strip center, 1,056 sq. ft. caretaker quarters, 24’ x 32’ caretaker garage plus four 1,000 sq. ft. leased mobile homes. This property is ideal for an investor! The property is listed for sale at a price of $529,000.00.

Click here to view Informational Flyer

Lease Price Reduced: 495 Eureka

Tuesday, February 7th, 2012

Fred Miller, SIOR and Sheila Colfer, CCIM are pleased to announce the reduced lease price of a warehouse building in a great central location close to I-80. 495 Eureka offers approximately 10,000 sq. ft., with approximately 1,100 sq. ft. of office space and 110 sq. ft. for a shop office. The new lease price is .30¢ per square foot, modified gross!!! Contact Fred or Sheila for more information.

Click here to view Informational Flyer

Lease Price Reduced: 1070 Caughlin Crossing

Monday, February 6th, 2012

Sheila Colfer, CCIM and Linda Moore  are pleased to announce the reduced price of an office building in a prime Caughlin Ranch location near the intersection of W. McCarran Blvd. & Plumb/Caughlin Pkwy. 1070 Caughlin Parkway is a 4,584 sq. ft., well maintained, stand alone, single level office building with multiple offices, large reception area, conference room, 3 bathrooms and new roof this year. The new lease price is $1.10 per square foot, modified gross!!! Contact Sheila or Linda for a viewing appointment before this slips through your fingers!

Click here to view Informational Flyer