- Overall vacancy rates decreased slightly to 16.57%
- Anchor space vacancy is currently at 13.09%
- In-line shops decreased in vacancy to 21.52%
- There were 48 tenants moving into space in Q2 2014 resulting in 247,843 square feet of new leases.
- In this quarter, net absorption was 109,604 square feet and gross absorption was 247,843 square feet.
- There were two significant sales in the second quarter. The Texaco at 1365 Baring Blvd. and a small retail strip center at 1145 N. McCarran Blvd. Find more details in our quarterly market report.
Showing posts with label Retail Property. Show all posts
Showing posts with label Retail Property. Show all posts
Wednesday, August 20, 2014
2Q14 Retail Market Report
The NAI Alliance Retail Properties Group has released its Q2 2014 Northern Nevada Retail Market Report. Here are some of the salient points from the report:
Tuesday, January 14, 2014
NAI Alliance Retail Group Releases Q4 2013 Market Report
The NAI Alliance Retail Properties Group has released its Q4 2013 Northern Nevada Retail Market Report. Here are some of the salient points from the report:
- Overall vacancy rates decreased slightly to 17.45%
- Anchor space vacancy is currently at 13.79%
- In-line shops decreased in vacancy to 22.8%
- There were 23 tenants moving into space in Q4 2013 resulting in 74,406 square feet of new leases.
- In 2013, net absorbtion was 117,873 square feet and gross absorbtion was 465,798 square feet.
- There were 4 significant investment sales in the second half of 2013, including the Sparks Galleria which sold for $26.2 Million.
Friday, December 6, 2013
NAI Alliance Secures Exclusive Lease for Dunkin' Donuts - Sites Being Sought
Dunkin' Donuts is coming to Northern Nevada and they're looking to move quickly. Mark Keyzers, Senior Vice President of the NAI Alliance Retail Properties Group recently completed the exclusive lease agreement with Dunkin’ Donuts.
Dunkin’ Donuts is currently seeking sites for the nine new store locations from existing land and property owners throughout Northern Nevada. With this agreement between HT2 Franchising and Dunkin’ Donuts, all franchise opportunities are sold out in Reno.
For more information on locations and planning, please contact Mark Keyzers, the exclusive leasing agent, at (775) 336-4663 for details and requirements.
Dunkin’ Donuts is currently seeking sites for the nine new store locations from existing land and property owners throughout Northern Nevada. With this agreement between HT2 Franchising and Dunkin’ Donuts, all franchise opportunities are sold out in Reno.
For more information on locations and planning, please contact Mark Keyzers, the exclusive leasing agent, at (775) 336-4663 for details and requirements.
Thursday, August 1, 2013
NAI Alliance Q2 2013 Retail Market Report Now Available
The Northern Nevada economic climate is showing signs of improvement, perhaps indicating that the retail vacancy rates may have peaked. The current overall vacancy level in Reno/Sparks declined to 17.54% from the previous quarter of 18.25% and from the previous year of 18.52%.
The anchor space vacancy is currently at 13.52%. In-Line shops have increased in vacancy to 23.42% this quarter from 23.10% last quarter. Total net absorption for this quarter was 104,226 square feet,
while the gross absorption was 201,501 square feet.
Click here to read the entire Q2 2013 Retail Market Report from NAI Alliance.
The anchor space vacancy is currently at 13.52%. In-Line shops have increased in vacancy to 23.42% this quarter from 23.10% last quarter. Total net absorption for this quarter was 104,226 square feet,
while the gross absorption was 201,501 square feet.
Click here to read the entire Q2 2013 Retail Market Report from NAI Alliance.
Tuesday, July 9, 2013
NAI Global Economic Briefing - Thursday July 11
Please join Dr. Peter Linneman, NAI’s Chief Economist & Jay Olshonsky, NAI Global President July 11, 2013, 12:00 PM – 1:00 PM Eastern for an enlightening briefing on the global economic environment.
Where are we in the recovery? Which markets still hold investment opportunities? Dr. Linneman will address several topics during this Web conference including:
Where are we in the recovery? Which markets still hold investment opportunities? Dr. Linneman will address several topics during this Web conference including:
- Real Rent Analysis: Which markets are below historical averages?
- A comparison between this cycle and the 1990s
- More reasons the Euro will fail
- How we are repeating Japan’s mistakes
- An update of capital markets
- Social Security implications as the boomers retire
Friday, June 7, 2013
Looking Beyond the Price Per Foot in Commercial Realty
Article published in the NNBW "How To Analyze, Buy Commercial Real Estate" special June 3, 2013. Contributed by the NAI Alliance Investment Services Group.
Successfully investing in commercial real estate has never been easy and today’s sophistication and tight margins make this as true as ever. This is true from both the investor and broker standpoint. Many potential investors have typically done quick search, perhaps through a commercial real estate search engine, to find properties that fit their spatial and/or return requirements, drive the properties and search a few comparables, and then try to get the best value based off of the information they were able to gather.
Is this really the best way to identify CRE opportunities? There are a number of approaches to determining value. A good broker can quickly acquire the same data using the aforementioned methods. In residential real estate, this can be a pretty reliable indicator of value and will typically satisfy the client. However, in commercial real estate, an experienced broker knows that this simplistic approach has its shortcomings as it oftentimes is akin to comparing apples to giraffes. Price per square foot isn’t the only barometer mark for achieving the best value, it’s just one component.
Savvy brokers know that the most important benefit they can provide a prospective investor is their knowledge of market conditions, their understanding of the client’s needs, and ultimately the ability to marry the two together to achieve the best possible deal. Specific to comps, a per square foot number on a land deal might get us in the ballpark but a per square foot on a leased asset may tell us virtually nothing as market strength, quality of tenant, lease type and length, age and quality of the asset, debt considerations and the seller’s cap rate all play predominantly in assessing an accurate value.
Capitalization rates are one of the primary metrics you hear about when comparing income producing properties. Quite simply, a capitalization rate represents a property’s annual net income divided by the purchase price. It is called a cap rate because the inverse of the percentage is how many years it will take to full capitalize the property based off of the first year’s net income. For example, an investor buys a property at a 10% cap rate, it will take (1/.10) 10 years to capitalize, or pay off, the property. The cap rate is a function of how much return an investor expects for their perceived risk associated with the property. By being active members in the commercial real estate market, good brokers not only know what cap rates have been paid on all current transactions but they are able to qualify the cap rates with an analysis of the physical asset and the asset’s existing and future income stream. This combined with a clear understanding of the client’s goals allow for the establishment of a proper cap rate target for a particular property.
A quality broker understands all of these aspects and is able to confidently and effectively convey to a client how a particular opportunity is priced against the competition and thus how it may perform in the market over time. Engaging a professional, experienced brokerage firm from the beginning is will best insure identifying the opportunity that best fits the investment goals of a particular buyer.
In our initial meetings with clients, it is paramount that we go over every aspect of their current and future real estate needs and goals in order to formulate a strategy. Understanding an investor’s profile is one of the key factors in determining what type of properties will be considered. Some example investor profiles are; owner/user, high net individuals, moderate sized investment companies, and institutions. Institutional investors are organizations that control large sums of money for diversified investment in securities, real property and a range of other investment vehicles. Institutional investors include banks, insurance companies, retirement or pension funds, private equity firms, hedge funds, investment advisors and mutual funds, just to name a few.
In the end, as commercial real estate brokers, we understand that today’s investors don’t select their broker solely by what we do but also because of why they do it. And in Northern Nevada, this is key. Commercial real estate brokerage these days is much more than just answering calls made off of listing signs but now requires a passion for the community and its growth, a real time knowledge of the market at all levels and a genuine and deep understanding of a client’s goals., In doing this, a quality broker can provide the services, options, and preparedness that the client demands. That’s the win-win all clients deserve.
Successfully investing in commercial real estate has never been easy and today’s sophistication and tight margins make this as true as ever. This is true from both the investor and broker standpoint. Many potential investors have typically done quick search, perhaps through a commercial real estate search engine, to find properties that fit their spatial and/or return requirements, drive the properties and search a few comparables, and then try to get the best value based off of the information they were able to gather.
Is this really the best way to identify CRE opportunities? There are a number of approaches to determining value. A good broker can quickly acquire the same data using the aforementioned methods. In residential real estate, this can be a pretty reliable indicator of value and will typically satisfy the client. However, in commercial real estate, an experienced broker knows that this simplistic approach has its shortcomings as it oftentimes is akin to comparing apples to giraffes. Price per square foot isn’t the only barometer mark for achieving the best value, it’s just one component.
Savvy brokers know that the most important benefit they can provide a prospective investor is their knowledge of market conditions, their understanding of the client’s needs, and ultimately the ability to marry the two together to achieve the best possible deal. Specific to comps, a per square foot number on a land deal might get us in the ballpark but a per square foot on a leased asset may tell us virtually nothing as market strength, quality of tenant, lease type and length, age and quality of the asset, debt considerations and the seller’s cap rate all play predominantly in assessing an accurate value.
Capitalization rates are one of the primary metrics you hear about when comparing income producing properties. Quite simply, a capitalization rate represents a property’s annual net income divided by the purchase price. It is called a cap rate because the inverse of the percentage is how many years it will take to full capitalize the property based off of the first year’s net income. For example, an investor buys a property at a 10% cap rate, it will take (1/.10) 10 years to capitalize, or pay off, the property. The cap rate is a function of how much return an investor expects for their perceived risk associated with the property. By being active members in the commercial real estate market, good brokers not only know what cap rates have been paid on all current transactions but they are able to qualify the cap rates with an analysis of the physical asset and the asset’s existing and future income stream. This combined with a clear understanding of the client’s goals allow for the establishment of a proper cap rate target for a particular property.
A quality broker understands all of these aspects and is able to confidently and effectively convey to a client how a particular opportunity is priced against the competition and thus how it may perform in the market over time. Engaging a professional, experienced brokerage firm from the beginning is will best insure identifying the opportunity that best fits the investment goals of a particular buyer.
In our initial meetings with clients, it is paramount that we go over every aspect of their current and future real estate needs and goals in order to formulate a strategy. Understanding an investor’s profile is one of the key factors in determining what type of properties will be considered. Some example investor profiles are; owner/user, high net individuals, moderate sized investment companies, and institutions. Institutional investors are organizations that control large sums of money for diversified investment in securities, real property and a range of other investment vehicles. Institutional investors include banks, insurance companies, retirement or pension funds, private equity firms, hedge funds, investment advisors and mutual funds, just to name a few.
In the end, as commercial real estate brokers, we understand that today’s investors don’t select their broker solely by what we do but also because of why they do it. And in Northern Nevada, this is key. Commercial real estate brokerage these days is much more than just answering calls made off of listing signs but now requires a passion for the community and its growth, a real time knowledge of the market at all levels and a genuine and deep understanding of a client’s goals., In doing this, a quality broker can provide the services, options, and preparedness that the client demands. That’s the win-win all clients deserve.
Thursday, May 2, 2013
NAI Alliance Q1 2013 Retail Market Report Now Available
The Northern Nevada economic climate is showing signs of improvement, perhaps indicating that the retail vacancy rates may have peaked. The current overall vacancy level in Reno/Sparks declined to 17.99% from the previous quarter of 18.52% and 18.60% from the previous year.
The anchor space vacancy is currently at 14.88%. In-Line shops have decreased in vacancy from 23.07% last quarter to 22.62% this quarter. Total net absorption for this quarter was 16,779 square feet. The total gross absorption was 117,700 square feet for this quarter.
Click here to read the entire report.
The anchor space vacancy is currently at 14.88%. In-Line shops have decreased in vacancy from 23.07% last quarter to 22.62% this quarter. Total net absorption for this quarter was 16,779 square feet. The total gross absorption was 117,700 square feet for this quarter.
Click here to read the entire report.
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