Status: U Return-Path: Received: from whmx-leash.pas.sa.earthlink.net ([127.0.0.1]) by whmx-leash.pas.sa.earthlink.net (EarthLink SMTP Server) with SMTP id 1q6PjG46q3NZFjA0; Mon, 4 Apr 2011 12:20:00 -0700 (PDT) Received: from mail155c38.carrierzone.com ([66.175.56.185]) by whmx-leash.pas.sa.earthlink.net (EarthLink SMTP Server) with ESMTP id 1q6PjF39X3NZFjA0 for ; Mon, 4 Apr 2011 12:19:59 -0700 (PDT) X-Authenticated-User: merilee.kerncommunications.com Received: from merilee07cf8a9 (wsip-68-15-13-44.sd.sd.cox.net [68.15.13.44]) (authenticated bits=0) by mail155c38.carrierzone.com (8.13.6/8.13.1) with ESMTP id p34JJsFP028621; Mon, 4 Apr 2011 19:19:58 GMT Message-ID: Reply-To: "Merilee Kern" From: "Merilee Kern" To: , "Ryan Regina" , "Mike Regina" , "'Ed Willis'" , "Raoul Davis" , , Subject: Inside Self Storage Online Placement with Comment Date: Mon, 4 Apr 2011 12:19:54 -0700 Organization: Kern Communications MIME-Version: 1.0 Content-Type: multipart/related; boundary="----=_NextPart_000_0D4A_01CBF2C2.9B245D60"; type="multipart/alternative" X-Priority: 3 X-MSMail-Priority: Normal X-Mailer: Microsoft Outlook Express 6.00.2900.5931 X-MimeOLE: Produced By Microsoft MimeOLE V6.00.2900.5994 X-CSC: 0 X-CHA: v=1.1 cv=jpd6Eq6hhthdGUyp4g6xuwyN3bq3gxPNGeAh1QQag/A= c=1 sm=1 a=kjGT4zuihUsA:10 a=OkTZCP_1vwgA:10 a=amoHW2/Lxk+JwdK3UfH89Q==:17 a=zWL84m-2AAAA:8 a=kziYVIc7AAAA:8 a=e485iomQIlgRvB5nFGEA:9 a=6aHRDtLpioR6omT94pUA:7 a=QEXdDO2ut3YA:10 a=y4LQtNLPKEIA:10 a=rtURyo-hFNP_8gVi:21 a=DVWUAc4llAQUg5wW:21 a=SSmOFEACAAAA:8 a=Y2VNeNrzAAAA:8 a=yMhMjlubAAAA:8 a=TW66zc2HAAAA:8 a=HQ31llbKAAAA:8 a=qvV_l0SeAAAA:8 a=gaZD2IKfAAAA:8 a=894mECZPyPYIyphk5kIA:9 a=i9OupC1b0jP-sSpEvQYA:7 a=PMFs82Cn63gS1Yvg:21 a=KKpW58zmGrt95Bi_:21 a=6q3MoBWpkcs8N0Rm6hcA:9 a=1Vq_FK4TplAA:10 a=ywEqR2VRTkI1e2tdRFsA:9 a=6qAgqxpLUCNWVrLX2QgA:9 a=MnVI3cat13X69DaiEccA:9 a=L8ZbmVad2Ja03d6AxQIA:9 a=HXjIzolwW10A:10 a=O9Tgc1OpuHYAym3xZ9sA:9 a=XEw7edSIgKC4MasH9QQA:9 a=0c99fTKHX1NZNsbu:18 a=0npH7CgY27harMi8ilkA:9 a=amoHW2/Lxk+JwdK3UfH89Q==:117 X-ELNK-AV: 0 X-ELNK-Info: sbv=0; sbrc=.0; sbf=00; sbw=010; This is a multi-part message in MIME format. ------=_NextPart_000_0D4A_01CBF2C2.9B245D60 Content-Type: multipart/alternative; boundary="----=_NextPart_001_0D4B_01CBF2C2.9B245D60" ------=_NextPart_001_0D4B_01CBF2C2.9B245D60 Content-Type: text/plain; charset="utf-8" Content-Transfer-Encoding: quoted-printable http://www.insideselfstorage.com/articles/2011/04/4-benefits-of-building-= commercial-real-estate-in-a-bad-economy.aspx 4 Benefits of Building Commercial Real Estate in a Bad Economy By Michael Regina=20 These are extraordinary times for commercial construction. Highly = volatile market conditions and ongoing uncertainty are a challenge for = the industry and its trade partners. Amid the economic downturn, now may = not seem like a good time to build, especially in the commercial sector. = However, there are many benefits of building in a bad economy, which can = present unique opportunities. The key is knowing what to look for and = maintaining a forward-thinking =E2=80=9Cvisionary=E2=80=9D mentality. =20 In any tumultuous period of change, the =E2=80=9Cdoom and gloom=E2=80=9D = set will always find reasons to postpone building projects. But those = who actively seek the silver lining and closely assess timing-based = opportunities can gain significant advantages. Here are four favorable = reasons to pull the trigger on a commercial construction initiative = during an economic downturn. Deeply Discounted Real Estate=20 Property values for commercial real estate in the United States have = dropped 20 percent to 45 percent across the board. In the western = states, the decrease has been even deeper. A good example is a deal on a = piece of land that was under contract in 2007 for $1.5 million. That = deal eventually fell apart in the development process for the previous = buyer. Now the price being paid for that same parcel is $800,000. New = office buildings that sold for $2.4 million in 2008 are now selling for = $1.6 million. Landlords are doing everything possible to protect their = portfolios=E2=80=94from offering free rent for a year to dropping rental = rates to 2001 levels. Owners are looking to reduce their losses. This = puts more power and control in the hands of buyers. Additionally, given = the fact that real estate owners are cash poor and looking to convert = their assets, there=E2=80=99s a large supply of land and existing = buildings on the market.=20 Rock-Bottom Interest Rates=20 It may be difficult to remember the last time commercial interest rates = were this low. It was, in fact, about 20 years ago. Comparative analysis = on new commercial interests in certain markets shows that it=E2=80=99s = cheaper to own a building than to rent today, opting to forego paying = someone else=E2=80=99s mortgage when rates are so low.=20 Like home ownership, commercial real estate should be viewed as a = long-term investment in which it doesn=E2=80=99t make sense to throw = money at a landlord each month. In today=E2=80=99s market, it=E2=80=99s = a great time to buy and build. =20 Streamlined Approval=20 Despite downturns, one thing that=E2=80=99s full steam ahead is = streamlined approval processes. Even just five years ago, it seemed to = take a lifetime to get any new project approved through various local, = county and state governing agencies. This is not the case today. Now it = appears these same agencies are starving for fees and desperate for new = projects.=20 It=E2=80=99s not uncommon for townships to call construction firms = inquiring about new submissions. These agencies need to support the = departmental staff that process project paperwork and are eager to know = what=E2=80=99s in the minimized pipeline. The combination of = technological efficiencies and eager reporting agencies has swung the = pendulum back in the favor of construction companies that used to be at = the mercy of the paperwork bottleneck. In a slow economy, = there=E2=80=99s a greater ability to control more parts of the process = in relation to agencies, which makes it a great time to build. =20 Reduced Cost of Labor, Materials and Services=20 The law of economics states that when there=E2=80=99s an excess supply = of goods or services, the cost of those goods or services will drop. = This is the case today with construction labor, goods and professional = services. Various trades are seeking work from any projects that can be = generated during this downturn. Things were quite different in 2006 when = these same companies were turning down work just as fast as they were = growing business with the surplus work they already had. Today, = companies are willing to cut their prices to keep their employees, = resulting in decreased labor and services costs.=20 While many remain cautious about building these days, there are others = forging ahead and taking advantage of today=E2=80=99s available real = estate, reduced labor and material costs, and low interest rates.=20 Michael Regina is the co-founder and owner of Big Sky Enterprises, a = commercial real estate developer, design/builder and finance firm that = strategizes, executes and oversees every aspect of a project development = lifecycle to provide clients with single professional contact-point = control. For more information, visit www.bigskyllc.com.=20 =20 Showing 1 comment=20 Sort by Popular now Best rating Newest first Oldest first Subscribe = by email Subscribe by RSS=20 a.. Frieda 4 hours ago =20 can't agree more - we twitted about your suggestion @probuildersinc ------=_NextPart_001_0D4B_01CBF2C2.9B245D60 Content-Type: text/html; charset="utf-8" Content-Transfer-Encoding: quoted-printable =EF=BB=BF
http://www.insidese= lfstorage.com/articles/2011/04/4-benefits-of-building-commercial-real-est= ate-in-a-bad-economy.aspx
 
 
4 Benefits of Building Commercial Real = Estate in a Bad=20 Economy
 

By Michael Regina

These are extraordinary times for commercial construction. Highly = volatile=20 market conditions and ongoing uncertainty are a challenge for the = industry and=20 its trade partners. Amid the economic downturn, now may not seem like a = good=20 time to build, especially in the commercial sector.

However, there are many benefits of building in a bad economy, which = can=20 present unique opportunities. The key is knowing what to look for and=20 maintaining a forward-thinking =E2=80=9Cvisionary=E2=80=9D = mentality. 

In any tumultuous period of change, the =E2=80=9Cdoom and = gloom=E2=80=9D set will always find=20 reasons to postpone building projects. But those who actively seek the = silver=20 lining and closely assess timing-based opportunities can gain = significant=20 advantages. Here are four favorable reasons to pull the trigger on a = commercial=20 construction initiative during an economic downturn.

Deeply Discounted Real Estate

Property values for commercial real estate in the United States have = dropped=20 20 percent to 45 percent across the board. In the western states, the = decrease=20 has been even deeper. A good example is a deal on a piece of land that = was under=20 contract in 2007 for $1.5 million. That deal eventually fell apart in = the=20 development process for the previous buyer. Now the price being paid for = that=20 same parcel is $800,000. New office buildings that sold for $2.4 million = in 2008=20 are now selling for $1.6 million.

Landlords are doing everything possible to protect their = portfolios=E2=80=94from=20 offering free rent for a year to dropping rental rates to 2001 levels. = Owners=20 are looking to reduce their losses. This puts more power and control in = the=20 hands of buyers. Additionally, given the fact that real estate owners = are cash=20 poor and looking to convert their assets, there=E2=80=99s a large supply = of land and=20 existing buildings on the market.

Rock-Bottom Interest Rates

It may be difficult to remember the last time commercial interest = rates were=20 this low. It was, in fact, about 20 years ago. Comparative analysis on = new=20 commercial interests in certain markets shows that it=E2=80=99s cheaper = to own a=20 building than to rent today, opting to forego paying someone = else=E2=80=99s mortgage=20 when rates are so low.

Like home ownership, commercial real estate should be viewed as a = long-term=20 investment in which it doesn=E2=80=99t make sense to throw money at a = landlord each=20 month. In today=E2=80=99s market, it=E2=80=99s a great time to buy and = build. 

Streamlined Approval

Despite downturns, one thing that=E2=80=99s full steam ahead is = streamlined approval=20 processes. Even just five years ago, it seemed to take a lifetime to get = any new=20 project approved through various local, county and state governing = agencies.=20 This is not the case today. Now it appears these same agencies are = starving for=20 fees and desperate for new projects.

It=E2=80=99s not uncommon for townships to call construction firms = inquiring about=20 new submissions. These agencies need to support the departmental staff = that=20 process project paperwork and are eager to know what=E2=80=99s in the = minimized=20 pipeline. The combination of technological efficiencies and eager = reporting=20 agencies has swung the pendulum back in the favor of construction = companies that=20 used to be at the mercy of the paperwork bottleneck. In a slow economy, = there=E2=80=99s=20 a greater ability to control more parts of the process in relation to = agencies,=20 which makes it a great time to build. 

Reduced Cost of Labor, Materials and Services

The law of economics states that when there=E2=80=99s an excess = supply of goods or=20 services, the cost of those goods or services will drop. This is the = case today=20 with construction labor, goods and professional services. Various trades = are=20 seeking work from any projects that can be generated during this = downturn.=20 Things were quite different in 2006 when these same companies were = turning down=20 work just as fast as they were growing business with the surplus work = they=20 already had. Today, companies are willing to cut their prices to keep = their=20 employees, resulting in decreased labor and services costs.

While many remain cautious about building these days, there are = others=20 forging ahead and taking advantage of today=E2=80=99s available real = estate, reduced=20 labor and material costs, and low interest rates.

Michael Regina is the co-founder and owner of Big Sky = Enterprises, a=20 commercial real estate developer, design/builder and finance firm that=20 strategizes, executes and oversees every aspect of a project development = lifecycle to provide clients with single professional contact-point = control. For=20 more information, visit www.bigskyllc.com.

=20

Showing 1 comment

Sort by = Popular now Oldest first 3D""=20&nbs= p; Subscribe=20 by email 3D""=20 =20 Subscribe=20 by RSS
  • can't = agree more -=20 we twitted about your suggestion @probuildersinc=20
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