You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur. FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU. Call me if you want to sell your property and need an estimated value. Phone: 480-948-5554 Prefer cell: 520-975-5207 or email me firstname.lastname@example.org. – What is a CCIM. –
New York City’s tourism industry may not fully recover until 2025, jeopardizing one of the market’s major economic engines, reports The New York Times. Guitar Center has filed for bankruptcy protection, according to Retail Dive. These are among today’s must reads from around the commercial real estate industry.
NREI Staff | Nov 16, 2020
- Simon Property Gives Up on Four Struggling Malls. Why More Could Follow “Real estate owners in the wake of the 2007-2008 financial crisis who opted not to fight to keep their homes or commercial properties, instead sent back the keys to lenders to sort out the mortgage mess. Simon Property Group, the largest U.S. retail real-estate investment Trust (REIT) and shopping center operator, recently took similar actions on four of its struggling shopping malls that have $410.9 million of mortgage debt, according to a team at KBRA Credit Profile, a research arm of Kroll Bond Rating Agency.” (MarketWatch)
- Seniors Housing Cap Rates on the Rise “The pandemic has a significant impact on the seniors housing sector.” (GlobeSt.com)
- Tourism, Engine for N.Y.C. Economy, May Not Fully Recover Until 2025 “Tourism in New York City will need at least four years to recover from the free-fall triggered by the pandemic, according to a new forecast from the city’s tourism promotion agency, a somber assessment that reflects the major obstacles to the city’s economic recovery. The return of international visitors, who stay longer and spend much more than domestic visitors, will be even slower, the agency forecasts.” (The New York Times)
- Jurisdiction Mix-Up Spawns Dueling New York Wheel Lawsuits “The New York Wheel was declared two years ago, but legal wrangling over responsibility for the project’s failure is far from over.” (The Real Deal)
- Closing Through COVID: Meridian’s David Schechtman Discusses Retail Restructuring “When David Schechtman, senior executive managing director at Meridian Investment Sales, left the field of law for real estate in October 2005, he had no regrets about the years he spent as an attorney. At the time, he assumed his experience as a bankruptcy litigator would probably come in handy in his new career. He was right — today, in helping his clients navigate a market filled with retail bankruptcies, that experience has become invaluable.” (Commercial Observer)
- SL Green Closes $1.25B Construction Loan for One Madison Avenue “SL Green and its joint venture partners, the National Pension Service of Korea and Hines, have closed on a $1.25 billion construction loan for One Madison Avenue. Wells Fargo, TD Bank, Goldman Sachs, Bank of America, Deutsche Bank and Axos Bank are among the lenders.” (GlobeSt.com)
- Guitar Center to File for Bankruptcy “Guitar Center has already dodged bankruptcy once this year, after missing interest payments on a group of bonds. The retailer at the time was able to work out a deal with bondholders that allowed it to preserve its cash while it tried to survive the disruption from the COVID-19 pandemic. But analysts expected more restructuring down the road, and in recent weeks rumors and media reports have pointed to a possible bankruptcy.” (Retail Dive)
- Home Depot in $8 Billion Deal to Acquire National Distributor “In a homecoming of sorts, The Home Depot will acquire a unit it sold some 13 years ago. The home improvement giant said it will acquire HD Supply Holdings, a national distributor of maintenance, repair and operations (MRO) products in the multifamily and hospitality end markets. The home improvement giant will pay $56 per share for HD Supply’s common stock for a total deal value of about $8 billion.” (Chain Store Age)
- Walmart to Nearly Exit Japan by Selling Majority Stake in Supermarket Chain Seiyu “Walmart is selling a majority stake in Japanese supermarket chain Seiyu to investment firm KKR and e-commerce company Rakuten for over US$1 billion (S$1.35 billion), after suffering years of poor profitability amid stiff competition. The deal, which values Seiyu at 172.5 billion yen (S$2.22 billion) including debt, comes after on-off speculation about the world’s biggest retailer looking to exit Japan. It is below the 300-500 billion yen it reportedly sought a few years ago.” (The Straits Times)
- Vibalogics Signs 118 KSF Life Sciences Lease in Massachusetts “Vibalogics has selected a 292,513-square-foot building in Boxborough, Mass., for its latest location. The pharmaceuticals manufacturer signed a long-term lease for 118,000 square feet at Lincoln Property Co.’s 1414 Massachusetts Ave. Colliers International’s Curtis Cole, John Carroll III, Tim Allen, Greg Klemmer, Kevin Brawley and Evan Gallagher advised Vibalogics, while Lincoln was represented in-house by Tim Latham and Chris Devaux.” (Commercial Property Executive)
- Dollar General Opens First Popshelf Stores “Dollar General has launched its first two Popshelf stores, a new retail concept offering non-consumable products and targeting primarily middle-class women. As reported in October, the first two stores are in the Nashville area, in Hendersonville and Clarksville. According to The Tennessean, both stores opened Oct. 29, at 215 W. Main Street in Hendersonville and 2819 Wilma Rudolf Blvd. in Clarksville.” (Nashville Business Journal)
- Vacant Plano Shopping Center Will Be Rebuilt into Mixed-Use Project “Developers want to turn a mostly vacant Plano shopping mall into a new mixed-use project. The Plano Market Square Mall was built in 1980.” (Dallas Morning News)
SEE IT ALL: https://www.nreionline.com/nrei-wire/12-must-reads-cre-industry-today-nov-17-2020?NL=NREI-21&Issue=NREI-21_20201117_NREI-21_348&sfvc4enews=42&cl=article_7&utm_rid=CPG09000005957475&utm_campaign=30134&utm_medium=email&elq2=0b99b8d1d12e4e8ebdcd01b1cd3388ca&oly_enc_id=6345F4910623H0Z
FROM ME: Now is the time, if you are thinking of selling or purchasing your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County, Pinal County, Arizona / Office / Retail / Industrial / Multi-family / please call me on my cell 520-975-5207 or e-mail me email@example.com. Investors and Owner / Users need to really know the market today before making a move. The market has a lot of moving parts. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands your needs. I am marketing my listings on Costar, Loop-net, CCIM, CREXi, Catylist, and various other web sites. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international. Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?
Walter Unger CCIM
West USA Commercial Division
7077 E MARILYN RD.
Suite 200, Building 4.
Scottsdale AZ, 85254
- DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
Walter Unger CCIM
West USA Commercial Division
7077 E MARILYN RD.
Suite 200, Building 4.
Scottsdale AZ, 85254
FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU PLEASE CALL ME
Also Call me if you need an estimated value of your Property.
Call me if you want to see a map with what is in the Construction Pipeline for Apartments.
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail firstname.lastname@example.org or call me on my cell 520-975-5207
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