Tweet I’m not sure I have the words to describe this. I will say that I am constantly amazed at how many people operate in our industry that have absolutely no clue what they are doing. WTF? In 19 weeks the property should be free! How exactly does this headline help get this property sold? [...]
Tweet The image below is from an email blast sent out by a brokerage firm selling a retail property in Southern California. Really, “Cooperating Broker Fee Offered” is your number #1 selling point? I have cropped out the distinguishing portions of the image to protect the identity of the offending brokerage. Last time I checked, [...]
Tweet This must be very confidential if these brokers are using a Property Line email blast to the whole world to get the word out! The subject line of the email was “4 Highly Confidential Listings”
Tweet This morning, CoStar published an article entitled Institutional Investors Throwing Big Money Around Class A Quality Retail Property. The article highlights several recent large transactions that have taken place and interviews guys from CBRE, Marcus & Millichap and Jones Lange LaSalle for opinions. A few of the points/quotes caught my attention and I thought [...]
Tweet DealBook has an article up today about the office sublease market in NYC and the impact lower offering rates are having on space offered directly by building owners. Every time I read about NYC rents my head just spins. The numbers are just astronomical. According to the article, average asking rents for Class A [...]
Tweet Yesterday I wrote a post about a buyer requirement email that was so all encompassing it was essentially useless to the author. This morning a new buyer requirement email landed in my inbox and, as luck would have it, the email was well targeted and gives me some good content for a follow-up post. [...]
Tweet Below is the text of an email I received this morning from a broker seeking investment property submissions from the CRE community. The only problem is that the stated requirement is a buyer’s dream wish list and it warrants nothing more than an immediate “delete.” Here is the email: Please forward me available properties [...]
Tweet I wanted to make another quick point on CRE underwriting as it relates to vacancy. Some of the more “with it” sellers have begun allowing vacancy factors underwritten into their offering memorandums. What is often overlooked is the actual relation of the vacancy factor to operations. Often you will see a vacancy factor of [...]
Tweet I received a marketing brochure today that, quite frankly, left me a bit shocked. The property is a multi-tenant retail building in a power center in Southern California. The shocking part of the offering was that the seller and broker were NOT attempting to capitalize income from the vacant suites. Maybe CRE practitioners are [...]
Tweet This is getting out of control. The highly credible (cough) Commercial REO Brokers Association (CREOBA) has resorted to shilling as a counter to the negative press they have been receiving. If you read the comments to this post you can see the evidence for yourself. I wonder if these guys really thought that I [...]
Tweet For those of you who have been reading this blog lately you will know that the overpriced deal of the week was already announced on Tuesday. To call Moreno Beach Plaza overpriced would be like saying Fresh & Easy is underperforming. So in honor of this new and (potentially) recurring post, I present you [...]
Tweet Lately I have been receiving a high volume of calls from appraisers. Appraiser calls are nothing new. Normally, I receive a handful a month calling to ask questions about properties I have sold or asking for my opinion on a particular property they are trying to value. Now, I am receiving several appraisal calls [...]
Tweet Over the past 6 months or so, I have seen many brokers list deals at values that just save the hides of their owners. What I mean by this is that if the property sells at the listed price, the seller can get out and pay off his debt and maybe even walk away [...]