NAI

Randy Dowis NAI Industrial Colorado Springs

Diverse Demand, Tight Supply Elevate Colorado Springs’ Industrial Market

by Sarah Daniels October 2, 2023

Industrial activity runs a wide gamut in Colorado Springs. Situated on the busy I-25 corridor, the Centennial State’s second-largest city is a key distribution point to Northern Colorado and surrounding states. But distribution is only part of the story. Thanks in part to Fort Carson Army base on its southern edge and the U.S. Air Force Academy to its north, the seat of El Paso County is home to an assortment of aerospace and defense manufacturers, as well as other industry clusters ranging from medical equipment makers to suppliers of semiconductor components. “It’s a military-friendly community that offers a lot of support for entrepreneurs and families just separating from their respective branches,” says Megan Mechikoff, an associate broker specializing in industrial real estate at NAI Highland Commercial Group. “That generates a lot of startups that work directly for the Department of Defense or attach themselves to a larger brand like Lockheed Martin or Northrop Grumman.” Colorado Springs attracts employers with its highly educated workforce, affordable cost of living and excellent quality of life, which includes mild winters on the protected Eastern slopes of the Rocky Mountains and proximity to outdoor activities and winter sports, Mechikoff says. What Colorado Springs lacks, …

October 2, 2023

Acquisitions Arizona NAI Office Western

NAI Horizon Brokers $10.6M Sale of Office Building in Gilbert, Arizona

by Amy Works September 15, 2023

GILBERT, ARIZ. — NAI Horizon has arranged the sale of an office building located at 1555 N. Fiesta Blvd. in Gilbert. The Commerce Insurance Co. sold the property to Graduation Solutions for $10.6 million. The buyer will relocate its business to the 29,000-square-foot second floor of the Fiesta Boulevard office building. Woodside Homes occupies the first floor of the property. Don Morrow and Dylan Whitwer of NAI Horizon represented the seller, while Julie Hance of Rick Brandt Real Estate represented the buyer in the transaction.

September 15, 2023

Acquisitions NAI New Jersey Northeast Office

NAI Hanson Brokers Sale of 4,232 SF Office Building in Franklin, New Jersey

by Taylor Williams August 30, 2023

FRANKLIN, N.J. — NAI James E. Hanson has brokered the sale of a 4,232-square-foot office building in the Central New Jersey community of Franklin. The building at 195 N. Church Road houses four suites, basement storage space and onsite parking. Joseph Vindigni of NAI Hanson represented both the seller, LSC Properties LLC, and the buyer, an entity doing business as 195 N Church LLC, in the transaction.

August 30, 2023

Acquisitions Build-to-Rent Content Partner Development Features Leasing Activity Midwest NAI Northeast Single-Family Rental Southeast Texas Western

Single-Family Rental, Built-to-Rent Investment Sales Outlook Remains Positive Despite Economic Challenges

by Sarah Daniels August 29, 2023

The multifamily sector is under general disruption from a variety of factors, such as falling valuations, financing difficulties, questions about forward net operating income, shifts in regulations and more. Chris Town, who works in commercial sales and leasing at NAI Latter & Blum in Baton Rouge, La., is an expert in single-family rental (SFR) and built-to-rent (BTR) investment sales. Town says that there are challenges, but a solid future ahead for the sector. The overarching challenges take the form of the Federal Reserve interest rate hikes. “It’s the major factor behind the immediate slowdown of home construction and home buying,” Town explains. “Another factor, of course, is land. These are true whether you’re talking true multifamily or the submarkets of BTR and SFR.” A combination of factors has created a tug-of-war among incentives. High interest rates, with home prices at or near historical highs, mean millions of people need places to live. Many of these potential homeowners have families and want the ameliorations and amenities of a detached single-family housing. “Depending on the metric and organization’s research used, you could say the country is five to six million units short on single-family homes,” Town says. The Larger Economy’s Impact on …

August 29, 2023

Acquisitions Arizona NAI Retail Western

NAI Horizon Negotiates $1.8M Sale of Retail Building in Phoenix

by Amy Works August 17, 2023

PHOENIX — NAI Horizon has negotiated the sale of a retail property located at 4314 W. McDowell Road in Phoenix. SEPMAR LLC sold the asset to MMGR Properties for $1.8 million The property features 3,000 square feet of retail space. Jeff Adams of NAI Horizon represented the seller, while Carlos Arellano and Jorge Arellano of Real Estate XG represented the buyer in the deal.

August 17, 2023

Acquisitions Content Partner Development Features Industrial Midwest NAI Northeast Southeast Texas Western

Logistics, Location, the 1.5-Year Rule Drive Industrial Tactics

by Sarah Daniels August 8, 2023

Location’s importance to commercial real estate has become a cliché. But in logistics and industrial considerations, the idea is new again — it’s not about where you are but where customers need to go and the primacy of transportation. If you’re not at the place and time that clients need, it doesn’t matter how theoretically fine the setting or how impressive the facilities are. “Transportation is roughly 12 times the cost of industrial real estate,” says Adam Roth, executive vice president at NAI Hiffman. Finished products, goods and materials are sent into and out of facilities over and over again. Shipping and trucking are a stiffly recurring expense and a much higher spend than real estate. “If I can impact your transportation spend, the real estate is a much smaller factor in the supply chain. If you can address the current concern of transportation, real estate rates almost doesn’t matter, due to a location’s supply chain advantages. Real estate can be one of the best ways to combat transportation costs.” The Rule of 1.5 In practical terms, customers’ plans for transportation are a series of changes, starting at factories, going to ports or warehouses for inventory, on to major and …

August 8, 2023

Acquisitions Industrial NAI Northeast Pennsylvania

NAI Summit Brokers Sale of 30,000 SF Industrial Property in Allentown, Pennsylvania

by Taylor Williams July 20, 2023

ALLENTOWN, PA. — NAI Summit has brokered the sale of a 30,000-square-foot industrial building located in the Eastern Pennsylvania city of Allentown. The sales price was $2 million. The recently renovated building features multiple dock and drive-in doors and clear heights of 20 to 24 feet, and the site spans 9.5 acres with the capacity to support future expansion. Mike Adams and Sarah Finney Miller of NAI Summit represented the undisclosed seller in the transaction.

July 20, 2023

Company News NAI Office Texas

NAI Robert Lynn Relocates, Expands Fort Worth Office

by Taylor Williams July 6, 2023

FORT WORTH, TEXAS — NAI Robert Lynn has relocated and expanded its Fort Worth office to a 6,000-square-foot space at 201 S. Adams St. in the city’s Near Southside neighborhood. The 10,000-square-foot complex previously housed a vet supply and distribution facility and was renovated to suit the Dallas-based firm’s needs. NAI Robert Lynn opened its Fort Worth office, led by Todd Hubbard, in 2012, and its team has completed more than 400 commercial transactions since that time.

July 6, 2023

Acquisitions Industrial NAI New Jersey Northeast

NAI Hanson Brokers Sale of 9,560 SF Industrial Flex Building in Denville, New Jersey

by Taylor Williams June 27, 2023

DENVILLE, N.J. — NAI Hanson has brokered the sale of a 9,560-square-foot industrial flex building in the Northern New Jersey community of Denville. According to LoopNet Inc., the single-tenant property at 305 Palmer Road was built in 1981 and renovated in 1988. Joseph Vindigni of NAI Hanson represented the seller, Venturini Investments Group, in the deal. Charity Realty International represented the buyer, Groome Industrial Service Group.

June 27, 2023

Content Partner Development Features Leasing Activity Midwest NAI Northeast Retail Southeast Texas Western

Retailers Eager to Expand Despite Higher Rental Rates, Development Slowdowns

by Sarah Daniels June 22, 2023

Retailers, developers and leasing agents who attended the ICSC LAS VEGAS 2023 conference in May left the show cautiously upbeat about the state of retail. It was only the second consecutive gathering since the pandemic shut down the annual show in 2020 and 2021, and many brands made known their intent to remain in expansion mode, especially fast-casual restaurants, car washes, coffee shops, auto parts stores, entertainment concepts and medical services. The only obstacle stopping them at this point is the higher rental rates that they may have to pay as a consequence of higher construction costs, says George Macoubray, vice president of retail brokerage for NAI Elliott in Portland, Oregon. “A lot of these concepts are doing well,” declares Macoubray, whose Northwest Retail Advisors team represents landlords and regional and national tenants throughout Oregon and Washington. “We’ll see how far these tenants can go in terms of what they pay to fill new projects, but the enthusiasm and willingness to grow is definitely there.” Practicing Vigilance The same can’t be said for ICSC conference attendees who are on the capital markets side of the business. Higher interest rates have fueled a bid-ask spread between buyers and lenders, while regulatory …

June 22, 2023

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