Ken Riggs,CCIM CCIM Institute's –Chief Economist
•“The recovery will vary by geographic location and property type, but for investors seeking to seize market opportunities, 2010 will be the best time in generations to buy well-priced, quality commercial real estate,” said Ken Riggs, CCIM…“Investors should view 2010 as a once-in-a-lifetime opportunity to snag key long-term investments.”
Tuesday, May 11, 2010
Wednesday, May 5, 2010
RE/MAX Commercial Symposium
I just attended the third RE/MAX Commercial
Symposium held at RE/MAX International in Denver,
CO. It was an excellent opportunity to connect with
other commercial brokers and the staff at RE/MAX.
The attendees were all very optimistic about the state of the economy in their
local markets and were eager to share thoughts and ideas that have proved
successful recenty. The speakers provided a fresh look at the state of
commercial real estate across the national and even some international
implications. Overall, almost all markets are seeing upward trends in values
and an increased velocity in transactions involving commercial real estate. It
was particularly interesting to see the advantage that RE/MAX agents and
CCIM designees have with access to the latest technology and marketing
tools. The Midwest and the Omaha metro area in particular have fared the
recent economic times fairly well, with relatively few jobs lost and a small
devaluation in real estate. Multi family properties remain a very popular
commodity in our region, I am getting several calls a week from out of state
investors looking for real opportunities. The other very much sought after
property is self storage facilities. I still receive calls regularly form investors
looking for a solid well producing property that could be purchased. I would
be delighted to speak to you about any of your commerical or investment
property needs.
Symposium held at RE/MAX International in Denver,
CO. It was an excellent opportunity to connect with
other commercial brokers and the staff at RE/MAX.
The attendees were all very optimistic about the state of the economy in their
local markets and were eager to share thoughts and ideas that have proved
successful recenty. The speakers provided a fresh look at the state of
commercial real estate across the national and even some international
implications. Overall, almost all markets are seeing upward trends in values
and an increased velocity in transactions involving commercial real estate. It
was particularly interesting to see the advantage that RE/MAX agents and
CCIM designees have with access to the latest technology and marketing
tools. The Midwest and the Omaha metro area in particular have fared the
recent economic times fairly well, with relatively few jobs lost and a small
devaluation in real estate. Multi family properties remain a very popular
commodity in our region, I am getting several calls a week from out of state
investors looking for real opportunities. The other very much sought after
property is self storage facilities. I still receive calls regularly form investors
looking for a solid well producing property that could be purchased. I would
be delighted to speak to you about any of your commerical or investment
property needs.
Friday, April 23, 2010
Interesting Transaction
From Texas to Tel Aviv: One listing’s market reach on LoopNet
Dave Smith of RE/MAX Commercial Midwest in Omaha, NE took on a co-listing agreement for a $2.5 million retail property located in Pueblo, CO. “LoopNet is the first place I think of once the listing agreement is signed,” explains Smith. “The property was posted on LoopNet within 30 minutes of securing the listing agreement.”
The building, currently occupied by Albertsons, was part of a trust located in Dallas, TX. It drew serious interest from a buyer in New York, NY. Letter of intent in hand, Mr. Smith was working on finalizing the deal when he got a call from a broker in Los Angeles, CA representing a buyer in Tel Aviv, Israel: “They made a cash offer and beat everyone to the punch.” The fact that the offer was made within 3 weeks of posting on LoopNet was not a surprise to Smith. “I was working with approximately 12 serious potential buyers all sourced from LoopNet,” says Smith. “LoopNet is the way you get business done in the Midwest. I get calls several times a week from potential buyers that have looked at a property I have added to LoopNet.”
Smith credits LoopNet’s Premium Membership product with providing the advantage listings need to command attention from serious buyers. “When I see a premium listing, I know someone thinks this property is worth something,” says Smith. Having worked with owners who make premium exposure on LoopNet part of the contract, a premium listing signifies confidence and value to Smith.
Widespread exposure to serious buyers is often the first obstacle to completing a transaction in today’s marketplace. “If it wasn’t for LoopNet, this deal wouldn’t have happened,” states Smith.
What this article did not address is all the hard work by several brokers and the attorney for the trust that was selling. Darryl Szymanski, an Associate Broker at RE/MAX Commercial Midwest, and Michael Sharon at NAI Capital, the Buyer's Agent, in Los Angeles both had a big part in keeping this transaction moving forward.
Dave Smith of RE/MAX Commercial Midwest in Omaha, NE took on a co-listing agreement for a $2.5 million retail property located in Pueblo, CO. “LoopNet is the first place I think of once the listing agreement is signed,” explains Smith. “The property was posted on LoopNet within 30 minutes of securing the listing agreement.”
The building, currently occupied by Albertsons, was part of a trust located in Dallas, TX. It drew serious interest from a buyer in New York, NY. Letter of intent in hand, Mr. Smith was working on finalizing the deal when he got a call from a broker in Los Angeles, CA representing a buyer in Tel Aviv, Israel: “They made a cash offer and beat everyone to the punch.” The fact that the offer was made within 3 weeks of posting on LoopNet was not a surprise to Smith. “I was working with approximately 12 serious potential buyers all sourced from LoopNet,” says Smith. “LoopNet is the way you get business done in the Midwest. I get calls several times a week from potential buyers that have looked at a property I have added to LoopNet.”
Smith credits LoopNet’s Premium Membership product with providing the advantage listings need to command attention from serious buyers. “When I see a premium listing, I know someone thinks this property is worth something,” says Smith. Having worked with owners who make premium exposure on LoopNet part of the contract, a premium listing signifies confidence and value to Smith.
Widespread exposure to serious buyers is often the first obstacle to completing a transaction in today’s marketplace. “If it wasn’t for LoopNet, this deal wouldn’t have happened,” states Smith.
What this article did not address is all the hard work by several brokers and the attorney for the trust that was selling. Darryl Szymanski, an Associate Broker at RE/MAX Commercial Midwest, and Michael Sharon at NAI Capital, the Buyer's Agent, in Los Angeles both had a big part in keeping this transaction moving forward.
Thursday, April 15, 2010
Thank You RE/MAX International
2010 RE/MAX Commercial Symposium
RE/MAX Global Education Center
Monday through Wednesday, May 3-5
Registration Required
Aimed at agents, owners and managers whose sole or primary business is commercial real estate, this three-day seminar reveals how experienced commercial practitioners can better position themselves for success in today's market. Top RE/MAX Commercial Practitioners discuss their markets, business-building strategies, tools and other factors that have made them some of the best in the industry.
RE/MAX Global Education Center
Monday through Wednesday, May 3-5
Registration Required
Aimed at agents, owners and managers whose sole or primary business is commercial real estate, this three-day seminar reveals how experienced commercial practitioners can better position themselves for success in today's market. Top RE/MAX Commercial Practitioners discuss their markets, business-building strategies, tools and other factors that have made them some of the best in the industry.
Friday, March 19, 2010
Exciting News for the Midwest Region
From the CCIM Institute's CIRE Magazine - March April 2010 edition:
"The Best City for Business
Des Moines, Iowa, outranked 100 other
metros with populations above 500,000,
according to MarketWatch’s 2009 year-end
survey. The city outscored second-place
Washington, D.C., as well as the remaining
top five: Omaha, Neb., Minneapolis-St. Paul,
and Boston. Des Moines’ low unemployment
and strong economic fundamentals boosted
its rating. For the complete list and metrics
go to www.marketwatch.com."
Business in this region is doing well. I am licesnsed in both Nebraska and Iowa, and can assist you in all areas of relocating a business or starting up a new company.
"The Best City for Business
Des Moines, Iowa, outranked 100 other
metros with populations above 500,000,
according to MarketWatch’s 2009 year-end
survey. The city outscored second-place
Washington, D.C., as well as the remaining
top five: Omaha, Neb., Minneapolis-St. Paul,
and Boston. Des Moines’ low unemployment
and strong economic fundamentals boosted
its rating. For the complete list and metrics
go to www.marketwatch.com."
Business in this region is doing well. I am licesnsed in both Nebraska and Iowa, and can assist you in all areas of relocating a business or starting up a new company.
Friday, March 5, 2010
Nebraska Economics vs. National Picture
I just spent the past several days at the RE/MAX International convention in Orlando. There were numerous speakers there covering various aspects of the economy, real estate sales volumes, and the declining prices of real estate. Some market areas have been devastated by the local economy and real estate market and the only transactions are short sales and foreclosures. While Nebraska has seen a decline of around ten to twelve percent on real estate prices, sales remain brisk, and we have not been faced with the onslaught of short sales. The good news to property owners in Nebraska is that true investment properties that are showing good cash flow and are not distressed are beinng sought by out of state investors. Many of these investors have cash for transactions or the ability to create financing terms to make deals happen. Whether you own investment property or would like to explore purchasing investment property, I would like the chance to meet with you and discuss your individual situation.
Friday, February 19, 2010
Imortant Announcement
RE/MAX Central Inc. is pleased to announce that David E. Smith, CCIM, the Broker/Owner of RE/MAX Commercial Midwest in Omaha, NE is the #1 Commercial Agent in the RE/MAX Central Region, comprised of Iowa and Nebraska. This ranking is based on total commissions for calendar year 2009.
Smith is a Certified Commercial Member (CCIM) of the National Association of Realtors®, a member of the Nebraska Realtors® Association, and the Omaha Area Board of Realtors®. Smith is a Past President of the Nebraska CCIM Chapter, and currently the First Vice President of the CCIM Institute’s Region V, (Nebraska, Iowa, Kansas, The Dakotas, and Minnesota). Smith is licensed as a Real Estate Broker in Nebraska, Iowa, and Kansas.
Smith works in all areas of commercial and investment property, including sales, leasing, and consulting for all types of property. Smith is a member of the Omaha-Millard Rotary Club and is on the Board of Directors of the Deer Creek Homeowners Association.
RE/MAX Commercial Midwest is located at 7020 North 102nd Circle #204 in the Cherry Hills Village Shopping Center in Omaha. Smith can be contacted at 402-614-9660, or by e-mail at davidesmith@remax.net. Smith and his wife Judy Smith, also a RE/MAX agent, also own RE/MAX Professionals in Omaha, where Judy is the Managing Broker.
Smith is a Certified Commercial Member (CCIM) of the National Association of Realtors®, a member of the Nebraska Realtors® Association, and the Omaha Area Board of Realtors®. Smith is a Past President of the Nebraska CCIM Chapter, and currently the First Vice President of the CCIM Institute’s Region V, (Nebraska, Iowa, Kansas, The Dakotas, and Minnesota). Smith is licensed as a Real Estate Broker in Nebraska, Iowa, and Kansas.
Smith works in all areas of commercial and investment property, including sales, leasing, and consulting for all types of property. Smith is a member of the Omaha-Millard Rotary Club and is on the Board of Directors of the Deer Creek Homeowners Association.
RE/MAX Commercial Midwest is located at 7020 North 102nd Circle #204 in the Cherry Hills Village Shopping Center in Omaha. Smith can be contacted at 402-614-9660, or by e-mail at davidesmith@remax.net. Smith and his wife Judy Smith, also a RE/MAX agent, also own RE/MAX Professionals in Omaha, where Judy is the Managing Broker.
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