There are many news reports about the status of the commercial real estate mortage market – we have even reported on them here on Real Estate Jokers – The Mortgage Crisis May Have a Second Act? – but what is uncertain is exactly how much debt is on the books, and how much is going to mature or come due as the five year notes expire? I read an interesting article on Zero Hedge a while back that estimated the total commercial debt at over $1 trillion: Read more of this article »
So you own a television and a computer – and every time you turn one or both of them on, they instantly spew forth ideas that you should sit tight and keep leasing space for your business. Vacancy rates are on the rise, rents are dropping, banks are foreclosing on properties, distress sales are on the rise still, etc, etc. Well maybe your computer doesn’t “spew” this info – but your fax machine probably does.
The basic point is in order to by in business, you have to have space to conduct that business. Like it or not, you unless you are drop shipping infant toys you sell on ebay, you most likely need a traditional space to operate your business. This could be an office, a retail store, or a manufacturing or industrial space for your going concern. Rent is expensive, possibly the most expensive piece of your overhead after labor and of course the cost of goods sold. While there are no guarantees and I certainly have no crystal ball here in my office, There is a good chance of you being able to recapture Read more of this article »
As we all know, unlike residential mortgages, commercial paper is ammortized over a longer period of 20-30 years, but they have terms or balloon payment dates. Most popular commercial loans are for 5 year terms. If you calculate backwards and figure when the commercial market was at its peak, from mid-2006 to mid-2007, those notes will be coming due in 2010-2011.
It is foreseeable that the financing in place on that commercial property will be difficult to renew, Read more of this article »
Finally, after much to-do the liquidation of the Crane Cams property in underway – just two hours ago the intellectual property rights were sold at auction for $1.2 million. Read more of this article »
Someone asked me today if I thought this was the bottom of the market. The tone in which he asked me reminded me of a story from my youth:
Once a regular customer of my father’s building supply store posed him the question, “Hey, what can you sell me here real cheap that I could take to the flea market on the weekend to sell and make some money on?” Read more of this article »
DAYTONA BEACH, FL - The on again / off again story of Crane Cams demise continues – Since the closure in February, many have speculated that Crane Cams would restructure and reopen, Then on March 22 it was announced that a company called LiquiTec Industries Inc. had been engaged to liquidate the assets of Crane Cams Inc, with a news release reading… Read more of this article »
Kosher on wheels, purveyor of Kosher foods and cooking products has expanded its operation. Kosher On Wheels has now added a location in the Port Orange Industrial Park. The 3,000 SF location will primarily be used to service accounts in the northeast central Florida area, from Jacksonville to Brevard county, and eastward toward the East Orland area. Tim Davis acted as the sole leasing agent for this transaction. For more information on Kosher on Wheels, visit them on the web at Kosher On WheelsRead more of this article »
Daytona Beach FL – Brambier’s Windows and Walls has added a new location in the greater Daytona Beach Area. They have finalized a lease of 4000 SF of industrial flex space in the Port Orange Industrial Park, located off of Samms Ave in Port Orange. Brambier’s has three locations, in North Miami Beach, Buford Georgia, and now a new larger location in the Daytona Beach Area. The lease was facilitated by Scott Harter of CBC Benchmark as the sole broker. For more information about space available in this complex, contact Scott Harter at sharter@cbcbenchmark.com. Find our more out Brambier’s at www.brambiers.com. Read more of this article »
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by Tim Davis
