April SIG Insider: CRE News, Insights & Announcements
Sands Investment Group
SIG is a full-service commercial real estate brokerage firm specializing in investment sales and capital markets.
Whether you're a seasoned investor or just starting out, we're here to provide you with valuable information that will keep you informed and ahead of the game in the dynamic realm of commercial real estate.?You'll have the tools you need to identify emerging trends, evaluate potential risks, and uncover investment opportunities that others may overlook.?Let us be your trusted companion on your investment journey, helping you navigate the complexities of the market and unlocking the potential for success!
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CRE NEWS?THAT MATTERS
Your go-to source for the latest news and insights.
IN THE SPOTLIGHT: OUR FAVORITE CRE ARTICLES
Beachfront in Bozeman: A Bright Spot in CRE ??
The commercial real estate market in Bozeman, Montana, stands out as a bright spot amidst nationwide industry challenges. While the US faces record-high vacancy rates, Bozeman boasts low vacancy rates ranging from 1% to 3% across retail, office, and industrial spaces. Bozeman's emergence as a market of rapid growth and expansion since 2020 has led to areas with no vacant space, particularly downtown on Main Street, where the vacancy rate is 0%.
Despite some empty storefronts downtown, these spaces are often unavailable due to takeovers and restructuring. The demand for prime downtown real estate is high, with businesses willing to pay up to 50% more in rent over the past five years. However, a growing challenge in Bozeman is a lack of supply, particularly for flex space for offices and warehouses, which has seen a decline in construction due to high borrowing and construction costs, geopolitical tensions, and cautiousness from banks and investors.
Investors should approach the uptick in Bozeman’s commercial real estate market with a balanced perspective. While the town’s success is commendable, there is a perceived negative side to consider: the influx of individuals from larger cities, who some feel have altered the town’s character and strained its resources. Despite this concern, Bozeman’s success still underscores the importance of exploring lesser-known markets and being open to unconventional investments. Fortune favors the bold and in this case, it's about leaving no stone unturned in the search for lucrative real estate ventures. In a market where others see obstacles, hidden gems are waiting to be discovered by those willing to take a chance. (NBC Montana, Bryanna Carroll)
Will Wynn Win? Bid Still Pending on NYC Casino Licenses ??
As competition for New York's high-stakes gaming licenses heats up, Related Companies and Wynn Resorts raise the stakes with the reveal of their plans for a new casino resort in Hudson Yards. The proposed complex - Hudson Yards West - would cover the western half of Hudson Yards and feature a 5.6-acre park, a luxury hotel and gaming tower with restaurants and bars, a residential building including affordable housing, and a commercial office building with a public school, daycare, and community center. Wow.
There are about as many amenities in this proposed complex as there is competition. The unveiling comes amidst a flurry of proposals from other developers and casinos vying for one of up to three downstate casino licenses. Silverstein Properties is planning the Avenir, a large-scale complex near Hudson Yards, SL Green Realty and Caesars Entertainment are partnering for a Times Square casino bid, and the Soloviev Group has teamed up with Mohegan for a mixed-use casino resort south of the United Nations headquarters.?
While the renderings and proposed features of the Hudson Yards West development are jaw-dropping, nothing is set in stone. The groups’ proposal is contingent upon earning city and community approval, as well as winning one of only three available casino licenses. As the saying goes, don’t count your chickens before they hatch. The competition for these licenses is leading groups to develop some pretty unique and novel proposals but it is too soon to say for certain which - if any - will come to fruition. (New York Yimby, Michael Young)
REAL ESTATE ROUND UP ??
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THE NEW FACE OF QSR PROPERTIES: ADAPTING TO CHANGING CONSUMER BEHAVIOR ????
In the ever-evolving Quick Service Restaurant (QSR) landscape, staying ahead of changing consumer behaviors is not just an advantage—it’s a necessity. Today’s QSR properties are not merely about fast food; they’re about smart, sustainable choices, technological advancements, and a commitment to quality that resonates with a new generation of consumers. It’s also becoming increasingly evident that in this dynamic arena, the role of informed, expert guidance cannot be overstated. This is where our team of product-type specialists come into play, offering expertise and insight into the QSR investment landscape, ensuring our investors are not just keeping pace but actually setting the pace in the industry
MARKET REPORTS????
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