This post is a short follow-up post to the one I wrote on February 5th about the marketing email I received stating the price would be reduced by $150,000 every two weeks until the property was sold. True to his word, Mr. Pollard has reduced the offering price of the property by $300,000 (per email [...]
This article published on Friday, February 26th, 2010 is quite possibly one of the worst articles you will ever read discussing the merits of a sale/leaseback transaction. I feel sorry for the brokers quoted in the publication. It feels like the author chopped up their quotes and used them where she thought best rather than [...]
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? Way [...]
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, offering [...]
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”
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 I’d [...]
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 office [...]
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. If [...]
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 that [...]
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 3% [...]
