Purdy-McGuire, Inc.的动态

The decline of commercial real estate values is a clear indicator of HOW the business landscape has changed. The need to join or build a business team is more relevant now than it has ever been. ASK me how.

A great read for anyone in commercial real estate or planning their next move. Covering everything from determining the ideal office size to negotiating the right lease terms—and everything in between. https://lnkd.in/g_DSzB4i

Lender Takes Control of DC Office Building Starwood, the lender, placed a $44mm credit bid for 1200 K St. NW and plans to convert the building to apartments. This highlights an interesting point about office-to-residential conversions: While an office-to-residential conversion may not "pencil" for a new buyer—meaning the returns aren't sufficient—the calculus changes for a lender. The lender faces two choices: 1) Sell the building at a significant loss. 2) Convert to residential, even if it's not cost-effective, to preserve value. By converting to residential, the lender may cut their losses compared to selling the building as office space. Lenders may opt to convert to residential to preserve value, unlike new buyers who may find the conversion financially unfeasible. Plus, there's a much more liquid multifamily market to take out the lender as apartments use-case in scenario 2.

Interested in the state of the commercial real estate market??Read founding partner Benjamin Gottlieb’s latest article in published in the 9/4/24 edition of the Ahwatukee Foothills News:?? https://lnkd.in/gW7NBRNk ? #realestate #commercialrealestate #litigation #transactions #officesector #realestatetransactions

Great opportunity, commercial building for sale in the heart of City of Lapeer with great exposure currently housing a law firm, presents a lucrative opportunity for a variety of businesses due to its prime location and versatile features. Situated on a main street with exceptional exposure, the property boasts approximately 74 feet of frontage along the East side of S. Main Street. The overall property spans about 0.5 acres, or around 20,720 square feet, with two parcels of land. The building itself encompasses approximately 1,844 square feet, The flexible layout allows for a range of potential uses, including typical office setups, real estate offices, mortgage companies, or attorneys' offices. The zoning of the property as C Commercial District(B2 GENERAL . CHAPTER 7.06 USES.)

For the Sacramento office market, the bottom line is that deals are not getting larger, State Agencies continue to consolidate into State-Owned office buildings, and Tenant Improvement Costs remain high. The casualties are gains for opportunistic buyers. Take a look at this article: https://lnkd.in/gw2QMzTH While Deal velocity is off, the general market fundamentals are strong. If you are a buyer, choose wisely! Every Submarket has a unique set of variables to consider, and every building has a story that includes tenants, owners, and lenders.

Ottawa faces 'unprecedented' office sector challenge. National Capital Region braces as federal government prepares to cut its commercial real estate footprint by half during next decade. What it means for the city,?#CRE?investors and owners. #crecanada?#realestate?#office #leasing #redevelopment #investors #owners #ottawa

In order to give client’s the best service and expertise, I am finding myself partnering with other brokers on deals more than I ever have. Here are a few examples: -We brought in an investment sales broker to help with a BOV (Broker Opinion of Value) and a potential sale of a building for a client of ours. Our team has successfully sold office condos and buildings, but our client is better served by also having a firm whose core business is investment sales (whereas our speciality is office leasing). -A broker from a different company that I am friendly with has a requirement for an engineering firm looking for space in Chelsea. This broker is more of a Landlord Representative, not a Tenant Representative. He reached out to me to co-broke this deal with him because he knows we are very active in the Chelsea submarket and can add value. -Working with an architectural firm near Penn Station. While this is an assignment I am more than comfortable handling by myself, I chose to include another broker from our office to work on this with me. He has deep relationships with some Landlords that I do not. The lesson - A piece of something is better than all of nothing.

https://lnkd.in/gKPtZ6ve $100MM loss on Xerox DC Bldg - will this be a reset for the office leasing market? At the new debt service rate, owners could offer space for lease at vastly lower rates, incentivizing business to come back to offices as the overhead is more manageable. With the CRE giant Evergrande's meltdown, our own coastal office building fire sales, and other market shifts, is this what is needed to "reset" Commercial real estate? What should other products classes learn from this?

The office leasing environment we are in is so interesting. Tenant expectations are at all-time highs, and owners cannot deliver like they could two years ago. Interest rates, bank's opinion of the asset class, construction costs, and lower tenant demand are all playing big-time interference when it comes to getting deals executed.