Blossom Hill Whole Foods - Update

It might be a little late to attend, but I just saw in our local Almaden paper (Almaden Resident) that there is going to be a groundbreaking hosted by officials from Whole Foods and the City of San Jose on December 18 at their site at Blossom Hill and Almaden Expressway. No time for the ceremony was given.

I guess that's a very positive sign that there will eventually be a Whole Foods at that location

Your comments are always appreciated. Thanks for reading.

Happy Holidays!!

Bay Area Apartment Brokers Forum - December 9, 2009

If you're interested in multi-family in the South Bay, this is the meeting that you want to attend.

Group: Bay Area Apartment Brokers Forum
Guest Speaker: Sako Noravian - E2C, Inc.
Topic: Seismic Retrofits, Soft Story Apartments
Date: Wednesday, December 9, 2009 - 8 AM
Place: First American Exchange, 1737 North First St., San Jose - 4th Flr
Breakfast: Continental Breakfast - no charge - First American Exchange
Chairman: Richard Domich - CB Richard Ellis, Inc.
Vice Chairman: Keith Suddjian - Cornish & Carey Commercial
Membership: Kari Noomen - WaMu - J. P. Morgan Chase
Sponsor: Paulo Sanchez - First American Exchange
Adjournment: 9:30 AM

Everyone present will have an opportunity to present their listings, buyer requirements,as well as their analysis of current events and market trends that directly effect the multi-housing (apartment) industry in Silicon Valley and greater Bay Area.

Your comments are always appreciated. Thanks for reading.

NCalCCIM December 8th Luncheon Meeting

The Monthly NCalCCIM Technology, Mentoring, Marketing and Luncheon Meeting will be held on Tuesday, December 8, 2009. (Please click on the title to register.)

Agenda:
9:00 AM Technology Session

10:15 AM Mentoring Session
Developer Barbara Armstrong

10:30 AM CCIM Candidate Portfolio Workshop

11:15 AM Marketing Session

12:00 Noon Lunch

12:30 PM Volunteer Recognition1:00 PM Luncheon Program
Steven Olson - VP and Regional Manager for JP Morgan Asset Management
Impact of Global and National Trends on Our Regional Comm RE Market

1:45 PM Adjourn

Location:
Four Points Sheraton
5121 Hopyard Road
Pleasanton, CA 94588

Happy Thanksgiving!!

Your comments are always appreciated. Thanks for reading.

Professional Broker Forum - November 12, 2009

The next Professional Brokers’ Forum is on Thursday, November 12.

The speaker is Mr. Mark Regoli from South Bay Development, speaking on the status of development in Silicon Valley.

Mr. Regoli brings over 20 years of commercial real estate investment and portfolio management expertise to South Bay Development. Mr. Regoli is responsible for originating and negotiating real estate and development investments.

Also speaking will be Mr. Sean Masterson, SVP with Landsmith.

PLACE:
777 North First Street,
Mezzanine Room,
San Jose, California 95112

TIME:
11:30 - Registration & luncheon (free lunch)
12:00 - Meeting promptly begins
12:05 - 1st Guest Speaker Presentation
12:40 - 2nd Guest Speaker Presentation
1:00 - Property Presentations
1:15 - Needs/Wants & Current Events/Announcements
1:30 - Meeting Adjourns

Your comments are always appreciated. Thanks for reading.

CCIM SV District Meeting November 17

Please note that the meeting is one week earlier than usual, due to the Thanksgiving Holiday.

Date: November 17, 2009

Itinerary:
8:30 - 9:00 AM Networking @ Le Boulanger (Located on 1st Floor)
9:00 -10:30 AM Meeting on 7th Floor

Location:
Miller, Morton, Caillat & Nevis, LLP
25 Metro Dr., 7th Floor, San Jose, 95110

Topic/Speaker:
Business Tools for Times of Turmoil
Robert Myer, CCIM - Principal of Realty Exchange Solutions


To Register: email George Pries @ georgepires@princetoncap.com.

Bay Area Apartment Brokers Forum - November 11, 2009

If you're interested in multi-family in the South Bay, this is the meeting that you want to attend.

Group: Bay Area Apartment Brokers Forum
Guest Speaker: Karen McCay - Pahl & McCay, Managing Partner, Professional Law Corp.
Topic: Legal Update, Apartment Issues - Q&A
Date: Wednesday, November 11, 2009 - 8 AM
Place: First American Exchange, 1737 North First St., San Jose - 4th Flr
Breakfast: Continental Breakfast - no charge - First American Exchange
Chairman: Richard Domich - CB Richard Ellis, Inc.
Vice Chairman: Keith Suddjian - Cornish & Carey Commercial
Membership: Kari Noomen - WaMu - J. P. Morgan Chase
Sponsor: Paulo Sanchez - First American Exchange
Adjournment: 9:30 AM

Everyone present will have an opportunity to present their listings, buyer requirements,as well as their analysis of current events and market trends that directly effect the multi-housing (apartment) industry in Silicon Valley and greater Bay Area. (As I've said before, I think this is the best part of the meeting).

Your comments are always appreciated. Thanks for reading.

NCalCCIM November 10th Luncheon Meeting

The Monthly NCalCCIM Technology, Mentoring, Marketing and Luncheon Meeting will be held on Tuesday, November 10, 2009. (Please click on the title to register.)

Agenda:

9:00 AM Technology Session

10:15 AM Mentoring Session
John Shaw - Improving Your Sale Skills

11:15 AM Marketing Session and Trade Fair

12:00 Noon Luncheon Program
Stewart Hsu - CONTI
Buying & Investing in Distressed Multifamily Property

Location:
Four Points Sheraton
5121 Hopyard Road
Pleasanton, CA 94588

AIR Commercial Real Estate Contracts Class - Nov 6, 2009

If the title doesn't mean anything to you, just skip this post. However, if you know what AIR Commercial Real Estate Contracts are, then read on.

The Northern California Chapter of CCIM (Silicon Valley District) is presenting a AIR Commercial Real Estate Contract class on Friday, November 6, 2009 @ the Santa Clara County Association of Realtors. (Click on the title for more information or to register.) The last time this class was offered in Northern California was in November of 2007.

This all day class will be conducted by two leading real estate professionals and a leading attorney from AIR. It will include lunch, refreshments and an opportunity to network. If you use the AIR Contracts and would like to understand them better, this is the class for you. (Of course, I will be attending.)

Your comments are always appreciated. Thanks for reading.

Virtual Office Update

Today is the type of the day (it's raining and very windy) that makes me glad that I've set up my virtual office. I've been listening to the radio and I'm glad I'm not trying to get to the office.

My virtual office has been working out very well. I have all of the equipment, but no commute or desk fees. The only thing I miss sometimes is the interaction with the other agents (especially during the football season).

I even have a backup plan for power outages. The Public Library, Starbucks and Barnes & Nobles all offer free Wi-fi.

Your comments are always appreciated. Thanks for reading.

Update - Blossom Hill Road Whole Foods

I must apologize, even though people tell you not to, for neglecting my blog. I hate to admit it, but I've been tweeting instead of blogging.

It looks like they are finally starting work again on the Whole Foods Store on Blossom Hill Road in San Jose. They have put up the fence, brought in the earth moving equipment and have started to move dirt around. I'm just wonder why they are starting at the beginning of winter.

Thanks for reading. Your comments are always appreciated.

BTW if you want to follow me on Twitter, I'm @svcomremoose (please note that there is only one "m" in com.)

Professional Broker Forum - October 8, 2009

The next Professional Brokers’ Forum is on Thursday, October 8.

The speaker is Mr. Larry Souza, speaking on SF Bay Area Commercial Real Estate Economic, Value and Mortgage Trends.

Mr. Souza has had 20 years of experience in the commercial real estate industry, providing economic and investment services to retail and institutional investors. Mr. Souza has worked for Charles Schwab Investment Management, Global Real Analytics, Johnson Souza Group, Inc, Quantum Financial Network and is currently affiliated with Chrysalis Capital Group LLC.

PLACE:
777 North First Street,
Mezzanine Room,
San Jose, California 95112

TIME:
11:30 - Registration & luncheon (free lunch)
12:00 - Meeting promptly begins
12:15 - Guest Speaker Presentation
12:45 - Guest Speaker Question & Answer Session
1:00 - Property Presentations
1:15 - Needs/Wants & Current Events/Announcements
1:30 - Meeting Adjourns

Your comments are always appreciated. Thanks for reading.

Bay Area Apartment Brokers Forum - October 14, 2009

If you're interested in multi-family in the South Bay, this is the meeting that you want to attend.

Group: Bay Area Apartment Brokers Forum
Guest Speaker: Steve Speno - Preferred Community Management
Topic: Observations of a Multi-Housing Investor - Q&A
Date: Wednesday, October 14, 2009 - 8 AM
Place: First American Exchange, 1737 North First St., San Jose - 4th Flr
Breakfast: Continental Breakfast - no charge - First American Exchange
Chairman: Richard Domich - CB Richard Ellis, Inc.
Vice Chairman: Keith Suddjian - Cornish & Carey Commercial
Membership: Kari Noomen - WaMu - J. P. Morgan Chase
Sponsor: Paulo Sanchez - First American Exchange
Adjournment: 9:30 AM

Everyone present will have an opportunity to present their listings, buyer requirements,as well as their analysis of current events and market trends that directly effect the multi-housing (apartment) industry in Silicon Valley and greater Bay Area. (As I've said before, I think this is the best part of the meeting).

Your comments are always appreciated. Thanks for reading.

NCalCCIM Oct 6th Luncheon, Mentoring & Marketing Meeting

The Monthly NCalCCIM Technology, Mentoring, Marketing and Luncheon Meeting will be held on Tuesday, October 6th. (Please click on the title to register.)

Agenda:

9:00 AM Technology Session
John Dawson - Clientlook
Charu - TeamLogic IT

10:15 AM Mentoring Session
Robert Kramer - Understanding the Foreclosure Process

11:15 AM Marketing Session and Trade Fair

12:00 Noon Luncheon Program
Terry Hird - Founder of Negotiation International
Negotiate Smart

Location:
Four Points Sheraton
5121 Hopyard Road
Pleasanton, CA 94588

Your comments are always appreciated. Thanks for reading.

CCIM Silicon Valley Meeting Sept 22

Date: September 22, 2009

Itinerary:
8:30 - 9:00 AM Networking @ Le Boulanger (Located on 1st Floor)
9:00 -10:45 AM Meeting on 7th Floor

Location:
Miller, Morton, Caillat & Nevis, LLP
25 Metro Dr., 7th Floor, San Jose, 95110

Topic/Speaker:
Silicon Valley Commercial Market Update: Office & R&D
Nancy M. Morse, SIOR, CCIM, President of Northern California Chapter of SIOR
Santana Row: A Development Perspective
John J. Wallace, Principal and Co-Founder of Wallace & Steichen, Inc.
Overview of Commercial Real Estate Women (CREW)
Mitsie Smith, CREW Silicon Valley Chapter President
"The Registry" real estate trade journal
Sharon Simonson, Editor-in-chief

To Register: email George Pries @ georgepires@princetoncap.com.

Your comments are always appreciated. Thanks for reading.

NCalCCIM Sept 8th Luncheon Meeting

Considering that Sept 7th is Labor Day, I hope that this isn't too late.

The Monthly NCalCCIM Technology, Mentoring, Marketing and Luncheon Meeting is going to be on Tuesday, Sept 8th. (Please click on the title to register.)

Agenda:

9:00 AM Technology Session
Mort Kantor - Microsoft Word
Edward Zeidan - Nerd4Rent

10:15 AM Mentoring Session
Dan Lutchansky - How to Prepare a Business Plan

11:15 AM Marketing Session and Trade Fair

12:00 Noon Luncheon Program
Michael Pierce, President of Prodesse Property Group
Challenges Facing the Multi-Family Housing Industry

Location:
Four Points Sheraton
5121 Hopyard Road
Pleasanton, CA 94588

Your comments are always appreciated. Thanks for reading.

Bay Area Apartment Brokers Forum - September 9, 2009

If you're interested in multi-family in the South Bay, this is the meeting to attend, especially with this month's speaker - Sarah Bridge of RealFacts.

Group: Bay Area Apartment Brokers Forum
Guest Speaker: Sara Bridge - RealFacts Co-Founder
Topic: RealFacts - Our Story, Our Business
Date: Wednesday, September 9, 2009 - 8 AM
Place: First American Exchange, 1737 North First St., San Jose - 4th Flr
Breakfast: Continental Breakfast - no charge - First American Exchange
Chairman: Richard Domich - CB Richard Ellis, Inc.
Vice Chairman: Keith Suddjian - Cornish & Carey Commercial
Membership: Kari Noomen - WaMu - J. P. Morgan Chase
Sponsor: Paulo Sanchez - First American Exchange
Adjournment: 9:30 AM

Everyone present will have an opportunity to present their listings, buyer requirements,as well as their analysis of current events and market trends that directly effect the multi-housing (apartment) industry in Silicon Valley and greater Bay Area. (As I've said before, I think this is the best part of the meeting).

Your comments are always appreciated. Thanks for reading.

CCIM - CI 101 is coming to San Francisco

NCalCCIM is bring CI101: Financial Analysis for Commercial Investment Real Estate (it's flagship course) to the Embassy Suites in San Francisco from September 21 - 25 (click on the title for additional information and to register).

This class starts the designation program, so if you plan to get your designation you need to take this class. This is the only time that it will be in Northern California for the rest of the year.

The course is being taught by two of the most popular instructors, William Mohr, CCIM (CCIM Instructor of the Year) and Mark Van Ark, CCIM. It will provide you with an array of financial analysis concepts and calculations needed to make sound commercial investment real estate decisions.

Your comments are always appreciated. Thanks for reading.

CCIM Intro Course Sept 16-17 in Oakland

If you're considering a career in Commercial Real Estate or making a move from Residential Real Estate to Commercial, here is the class you should take.

It's being presented by the Northern California Chapter of CCIM (NCalCCIM) and Oakland Association of Realtors (You can take BART, now that they aren't on strike).

CCIM’s world-renown Introduction to Commercial Investment Real Estate class comes to Oakland at the Oakland Association of Realtors (1528 Webster St, Oakland, CA) on September 16-17 (Click on Title for more information).

This 2-day course, taught by Bill Mohr (CCIM's Instructor of the Year), addresses Cap Rates, APOD, NOI, IRR and the Time Value of Money. These are the basics of Commercial Real Estate.

Register by September 4 and save $45. Refer a student and get a free NCalCCIM luncheon meeting (worth $35!).

Your comments are always appreciated. Thanks for reading.

Update - Blossom Hill Road Whole Foods

I find my updates on the Blossom Hill Road Whole Foods from numerous sources. Today's update comes from Scott Herhold's My Opinion column in the San Jose Mercury News (click on the title for the whole column).

The Landlord, Bruce Hamann, reports that construction will be starting soon and the Whole Foods is scheduled to open in year, on August 11, 2010. The store will only be 50,000 sf as compared to the original concept of 60,500 sf. Basically, everything is a year behind.

The column also mentioned the Stockton Ave/The Alameda store that has received approval for a 44,000 sf. It should probably come on line three to six months after the Blossom Hill store.

Your comments are always appreciated. Thanks for reading.

Bay Area Apartment Brokers Forum - August 12, 2009

This is one of the meeting that I post consistently on my blog (even though I don't always attend) because I think it's one of the best forums to attend if you're at all interested in multi-family.

Group: Bay Area Apartment Brokers Forum
Guest Speaker: Jody Marshall - CEO, Westwood Properties
Topic: Apartment Management Update 2009 - Q & A
Date: Wednesday, August 12, 2009 - 8 AM
Place: First American Exchange Company, 1737 North First St., SJ 4th Floor
Breakfast: Continental Breakfast - no charge - First American Exchange
Chairman: Richard Domich - CB Richard Ellis, Inc.
Vice Chairman: Keith Suddjian - Cornish & Carey Commercial
Membership: Kari Noomen - WaMu - J. P. Morgan Chase
Sponsor: Paulo Sanchez - First American Exchange
Adjournment: 9:30 AM

Note: All present will have an opportunity to present their listings, buyer requirements, as well as their analysis of current events and market trends that directly effect the multi-housing (apartment) industry in Silicon Valley and greater Bay Area. (In my humble opinion, this is probably the best part of the meeting.)

Your comments are always appreciated. Thanks for reading.

NCalCCIM August 11th Luncheon Meeting

Well, it's that time again. Time for me to put in a plug for the NCalCCIM August 11th Luncheon Meeting. (Click on the title to register.)

Location: Four Points Sheraton, 5121 Hopyard Road, Pleasanton
Agenda:
9:00 AM Technology Session
10:15 AM Mentoring Session: Midyear Commercial RE Forecast w/ Sarah Bridge of RealFacts and Ed Del Beccaro of Colliers International
11:15 AM Marketing Session
12:00 Noon Luncheon Program - "Title Insurance and What The Broker/Syndicator/Sponsor Needs to Know" w/ John L. Hosack.

We will take a close look at some things you may not know about title insurance.

Your comments are always appreciated. Thanks for reading.

AIR Commercial RE Contract Class

If the title doesn't mean anything to you, just skip this post. However, if you know what AIR Commercial Real Estate Contracts are, then read on.

The Northern California Chapter of CCIM (Silicon Valley District) is presenting a AIR Commercial Real Estate Contract class on Friday, November 6, 2009 @ the Santa Clara County Association of Realtors. (Click on the title for more information or to register.) The last time this class was offered in Northern California was in November of 2007.

This all day class will be conducted by two leading real estate professionals and an attorney from AIR and will include lunch and an opportunity to network. If you use the AIR Contracts and would like to understand them better, this is the class for you. (Of course, I will be attending.)

Your comments are always appreciated. Thanks for reading.

San Jose Retail Space Available for Sublease

Approx. 3,600 sf of open area retail space is now available for sublease until February 28, 2012 @ $6,600 ($1.84 psf) a month NNN .

The space is located with a Lucky Supermarket on one side and a CVS Drug Store on the other side. There is a good mix of Tenants with Wells Fargo Bank, Payless Shoes, Kiddie Academy, Trek Bikes and Subway Sandwiches. There is easy access to Highway 87 and Capitol Auto Mall and Home Depot is just down the street.

If you're interested or would like more information, please send me an email.

Your comments are always appreciated. Thanks for reading.

Do You Twitter?

Okay, I confess. I've been ignoring my blog because I've started to twitter (micro-blogging) and I've added a Facebook page (but that's for another blog).

I will admit that 140 characters limit in Twitter does limit what I can say, but on the other hand, it does keep me more concise. I use to be a mechanical engineer, so being concise is easier for me than being verbose.

Having the ability to retweet (forwarding someone else's tweet to the people that are following you) and being able to see the people that are following you (instant gratification) are both pretty cool.

Do you twitter?

Your comments are always appreciated. Thanks for reading.

CCIM CI101 Coming to San Francisco

NCalCCIM is bring CI101: Financial Analysis for Commercial Investment Real Estate (it's flagship course) to the Embassy Suites in San Francisco from September 21 - 25 (click on the title for additional information and to register).

This class starts the designation program and is being taught by two of the most popular instructors, William Mohr, CCIM (CCIM Instructor of the Year) and Mark Van Ark, CCIM. It will provide you with an array of financial analysis concepts and calculations needed to make sound commercial investment real estate decisions.

Your comments are always appreciated. Thanks for reading.

CCIM Intro Class Coming to Oakland

Here's another shameless plug for a CCIM class presented by the Northern California Chapter of CCIM and Oakland Association of Realtors

CCIM’s world-renown Introduction to Commercial Investment Real Estate class comes to Oakland at the Oakland Association of Realtors (1528 Webster St, Oakland, CA) on September 16-17 (Click on Title for more information).

This 2-day course, taught by Bill Mohr (CCIM's Instructor of the Year), addresses Cap Rates, APOD, NOI, IRR and the Time Value of Money.

Register by September 4 and save $45. Refer a student and get a free NCalCCIM luncheon (worth $35!).

Your comments are always appreciated. Thanks for reading.

NCalCCIM July 14th Luncheon, Mentoring & Marketing Meeting

Well, it's that time again (and I don't mean the Baseball All-Star game). Time for me to put in a plug for the NCalCCIM July 14th Luncheon Meeting. (Click on the title to register.)

Location: Four Points Sheraton, 5121 Hopyard Road, Pleasanton
Agenda:
9:00 AM Technology Session
10:15 AM Mentoring Session: National CCIM Roundtable with Ed Craine, Bob Rosenberg and David Saldivar
11:15 AM Marketing Session
12:00 Noon Luncheon Program - "What You Need to Know About Lease Workouts" with Byron Mellberg and Sblend Sblendorio of Hoge, Fenton, Jones & Appel.

We will explore lease workouts, what types are there, how are they structured and what happens when the tenant explores bankruptcy.

Your comments are always appreciated. Thanks for reading.

Update - Sunnyvale Town Center

I just saw an article in the Silicon Valley/San Jose Business Journal on the Sunnyvale Town Center (Click here for the complete article).

It doesn't look good for the Sunnyvale Town Center as the developers have failed to meet the June 24 deadline to repay the $108 million loan. The developers continue to try and work out something with the lenders, so that the center can be completed.

Target and Macy which own their own stores continue to remodel their stores with plans to open them later in the year.

Your comments are always appreciated. Thanks for reading.

Bay Area Apartment Brokers Forum - July 8, 2009

If you've read my previous posts on this meeting, you know that I highly recommend this forum for anyone that is interested in the South Bay multi-family business (even though I don't attend it every month).

It's early this month because of the way the month broke, so make sure you get it on your calendar.

Group: Bay Area Apartment Brokers Forum
Guest Speaker: Joshua Howard - Executive Director, California Apartment Association
Topic: Why Politics Matter 2009
Date: Wednesday, July 8, 2009 - 8 AM
Place: First American Exchange Company, 1737 North First St., San Jose - 4th Floor
Breakfast: Continental Breakfast - no charge - First American Exchange
Chairman: Richard Domich - CB Richard Ellis, Inc.
Vice Chairman: Keith Suddjian - Cornish & Carey Commercial
Membership: Kari Noomen - WaMu - J. P. Morgan Chase
Sponsor: Paulo Sanchez - First American Exchange
Adjournment: 9:30 AM

All present will have an opportunity to present their listings, buyer requirements, as well as their analysis of current events and market trends that directly effect the multi-housing (apartment) industry in Silicon Valley and greater Bay Area. (For me, sometimes this is the most interesting part of the meeting.)

Your comments are always appreciated. Thanks for reading.

Landlords Can't Forget Their Customers

I saw this article (click on the title for the complete article) on GlobeSt.com. It's from Sunday's General Session of Building Owners and Managers Associations's (BOMA) annual conference.

The article stresses landlords need to remember that they need to serve the tenants that are their customers and concentrate on service. One of the best ways is open communications with tenants (seems pretty simple, doesn't it, but how often do we called our tenants when we don't have to).

Your comments are always appreciated. Thanks for reading.

Update - Whole Foods on Blossom Hill

According to one of our local Almaden weekly newspapers, The Almaden Resident, the Whole Foods Market on Blossom Hill Road and Almaden Expressway will be delayed until Fall of 2010.

The store was supposed to have opened at the end of 2009. Most of the demolition has been completed, but work has ceased for the last six months or so and the dirt has been covered by plastic.

Supposedly, a new regional manager decided to shuffle the opening dates for several of the new Northern California stores. There was no mention of the Downtown Whole Foods Market.

Your comments are always appreciated. Thanks for reading.

Tishman Speyer Defaults On Campus @ North First

Last Friday, I saw that the Campus @ North First project was in trouble in an article from the Silicon Valley/San Jose Business Journal (click to see the article).


Apparently, it was in real trouble because I saw this morning in the San Jose Mercury (click to see the article) that Tishman Speyer Properties has defaulted on an $86.2 million loan from Bank of America. Tishman Speyer is still in negotiations with Bank of America on a "workout" on the land.


In March 2007, Tishman Speyer paid $108 million for the 40 acre site with plans of building a multi-phase 2.8 million square foot office park. I guess that's not going to happen.


Your comments are always appreciated. Thanks for reading.

Hoover Dam & the Hoover Dam Bypass

As I posted yesterday, we stopped briefly (20 minutes) at Hoover Dam on the way to the Grand Canyon. (Actually we didn't stop at Hoover Dam, but at a turnout overlooking the Dam.)

Here's a picture of Hoover Dam from the Arizona side. If you look carefully, you can see how the waterline has dropped (the white area) due to the drought (10 years according to the bus driver).

But one of the coolest things that I saw was the Hoover Dam Bypass (Colorado River Bridge) that they are currently building over the Colorado River and Hoover Dam. It will take US 93 directly over the river, instead of over the top of the Dam.

If you click on the title, it will take you to the Hoover Dam Bypass website (How cool is that, a website for a bridge with a webcam?) The website saids that it will be completed by late 2010, the bus driver said 2014. Who are you going to believe?

Your comments are always appreciated. Thanks for reading.

Grand Canyon Trip

My wife and I took the whole family to the Grand Canyon and Hoover Dam this weekend on a bus tour from Las Vegas.

Here are a couple of pictures from the Bright Angel and Mather Point. (The pictures don't do the Grand Canyon justice.)

The first one is from the Bright Angel Trail. The second one is from Mather Point.

If you haven't take a trip to the Grand Canyon, I would highly recommend it. I don't know if I would take the bus tour again (too long of a day, we got picked up at 6:00 AM and dropped off at 11:00 PM), but it worked for the first time. I think that the next time I would probably spend a couple of days there.

There's not much development in Arizona on the way to the Grand Canyon. Most of the land adjacent to freeway is being used for cattle ranches. What development there was tended to be Hospitality and Self Storage (lots of flat land available).

We also stopped briefly at Hoover Dam. I'll post a picture of the new bridge that they are building tomorrow.

Your comments are always appreciated. Thanks for reading.

Whole Foods Markets

Well, no news on the Whole Foods Markets in San Jose, but I did see something in the San Francisco Business Times about a Whole Foods project in SF being scrapped.

The developer of a combined Whole Foods Market and housing development in SF (Haight & Stanyon) has scrapped their plans citing the economic downturn and high city fees.

Apparently, the developer would have to pay between $5 - 6 million in city fees to pull the permits for the development, which was to consist of a 34,000 sf Whole Foods Market and 62 apartments. Ouch!

It probably didn't help that the entitlement process took 32 months. Ouch!

Maybe somebody in the South Bay should give the developer a call and see if he wants to do something down here.

Your comments are always appreciated. Thanks for reading.

Random Thoughts on Twitter vs. Blogs

I know, this is suppose to be a blog on Commercial Real Estate, not a technology blog (and we know we have enough of those). However, since I've recently started using Twitter, I've been thinking about blogging vs. twittering.

I find myself twittering more than I blog. I think it something about being able to dash off a quick message (and it has to be quick since you only has 140 characters), rather than sitting down and actually writing about something. (I use to be an mechanical engineer, so 140 characters is just about right.) I think that this is the main reason that I find myself twittering more and no, I don't twitter about what I had for breakfast.

And there's that aspect about following. There's a lot of good and bad aspects to following. The good is that you get a lot of information quickly and the bad is that you get a lot of information quick. You can easily get an overload of information with Twitter.

I use TweetDeck to group the people I follow (if you twitter, you need to check this program out). But that can also happen with blogs, so I also use Google Reader to consolidate the blogs that I follow.

So, I'll continue to do both, at least until something new comes around. LOL

If you're interested in following me on Twitter, I'm "svcomremoose".

Your comments are always appreciated. Thanks for reading.

Professional Brokers' Forum - June 11

It's that time of month again (most of the commercial real estate forums seem to be in the second week of the month), so here's the information on the Professional Brokers' Forum. This one looks pretty interesting, especially if you want to work with the City of San Jose.

Date: June 11, 2009
Time: 11:30 - 1:30 PM
Speaker: Neil Stone, City of San Jose's Real Estate Division Manager
Topic: The City of San Jose - Real Estate Asset Management and a Role for Brokers
Place: 777 North First Street, Mezzanine Room, San Jose, CA

The Real Estate Division is responsible for the City's acquisition of property for roadway widening, new libraries and fire stations, etc., handling leasing on behalf of the City as both lessor and lessee as well as sale of surplus properties.

If you're planning on attending, you should RSVP Ron Ricard @ ron.ricard@ipx1031.com.

Registration is from 11:30 - 12:00 (and so is lunch).

Your comments are always appreciated. Thanks for reading.

NCalCCIM June 9th Luncheon Meeting

Well, it's that time again. Time for me to put in a plug for the NCalCCIM June 9th Luncheon Meeting (click on the title for more information and to register for the event).

Location: Four Points Sheraton, 5121 Hopyard Road, Pleasanton
Agenda:
9:00 AM Technology Session
10:15 AM Mentoring Session: Integrating between brokers, architects and contractors - Michael Hanneken, President NCalCCIM Chapter
11:30 AM Marketing Session
12:00 Noon Luncheon Program - Luis Belmonte

Our luncheon speaker will be Luis Belmonte, Principal with Seven Hills Properties of San Francisco, developers of neighborhood retail and multi-family residential properties. Mr. Belmonte is a humorously outspoken observer of development trends and politics. Prior to starting Seven Hills Properties, he was Executive Vice President of AMB Property Corporation.

East Bay Crew will be joining us for this meeting.

Your comments are always appreciated. Thanks for reading.

Bay Area Apartment Brokers Forum - June 10, 2008

If you've read my posts before (and hopefully, you have), you know that this is one of the forums that I always recommend attending, especially if you're interested in multi-family in the Bay Area and you don't have to be a broker to attend.

Group: Bay Area Apartment Brokers Forum
Guest Speaker: Tod Spieker - President, Spieker Companies, Inc.
Topic: Apartment Straight Talk 2009 - Q&A
Date: Wednesday, June 10, 2009 @ 8:00 AM
Place: First American Exchange, 1737 N. 1st St., San Jose - 4th Flr.
Breakfast: Continental Breakfast provided by First American Exchange
Chairman: Richard Domich - CB Richard Ellis, Inc.
Vice Chairman: Keith Suddijan - Cornish & Carey Commercial
Membership: Kari Noomen - WaMu - J.P. Morgan Chase
Sponsor: Mary Kay Kennedy - First American Exchange
Adjournment: 9:30 AM

Note: All present will have an opportunity to present their listings, buyer requirements as well as their analysis of current events and market trends that directly effect the multi-housing (apartment) industry in Silicon Valley and the greater Bay Area.

Your comments are always appreciated. Thanks for reading.

TiVo Saves Big Bucks on Lease Renewal

As I mentioned in a previous post, I've just started using Twitter. I heard this bit of news on the radio (KLIV again) at the end of last week and tweeted on it, but I forgot to post it on my blog.

So, here's the skinny.

TiVo has renewed their lease on their 127,000 sf headquarters building and has gotten a major reduction in rent plus money for tenant improvements. They are cutting the rent from $1.42 psf to $1.10 psf. There will be $0.05 psf annual increases until it reaches $1.40 psf. TiVo is also getting $7.00 psf for tenant improvements. Like I said, in my tweet, Ouch! (if you're the landlord).

Your comments are always appreciated. Thanks for reading.

Retail Space Available for Sublease in South San Jose

I've been debating with myself on whether or not to post this listing on my blog. It was either this or posting about Twitter (you'll probably get this post next week).

Approx. 3,600 sf of open area retail space is available for sublease @ $6,600 ($1.84 psf) a month NNN from June 1, 2009 until February 28, 2012.

The space is located with a Lucky Supermarket on one side and a Long's Drug on the other side. There is a good mix of Tenants with Wells Fargo Bank, Payless Shoes, Kiddie Academy, Trek Bikes and Subway Sandwiches. There is easy access to Highway 87 and Capitol Auto Mall and Home Depot is just down the street.

If you're interested or would like more information, please send me an email.

Your comments are always appreciated. Thanks for reading.

Random Thoughts on My BlackBerry #3

Here' another post about my BlackBerry; this is starting to be a monthly topic. I'm not a "crackberry" yet, but I must admit that it easily become very addictive.

So far, one of the best things is to be able to get your emails and response to them instantly and one of the worst things is to be able to get your emails and response to them instantly. Those of you who have a BlackBerry or an IPhone, know what I'm talking about. It's very easy to be connected all of the time. Unless I know that the email is critical (and you should know what is critical), I try not to read or response to them after 6:00 PM.

Talking about teaching an old dog (and I'm really an old dog) new tricks, I've added Uber Twitter to my BlackBerry (so there's the connection to this blog) and have started to twitter. You can see my tweets on my blogs. It's easier to keep up with than my blog since it's only 140 characters.

Has anyone else started using twitter?

Your comments are always appreciated. Thanks for reading.

CCIM SV District Meeting May 26

The Silicon Valley District of Northern Californian Chapter of CCIM is having our bi-monthly meeting on May 26th (the day after the Memorial Day Holiday). It's a good opportunity to attend a CCIM meeting and network without having to drive to Pleasanton.

Date: May 26, 2009
Location:
Miller, Morton, Caillat & Nevis, LLP
25 Metro Dr., 7th Floor, San Jose
Itinerary:
8:30 - 9:00 AM Networking @ Le Boulanger
9:05 - 10:30 AM Meeting on 7th Floor
Topic:
How to effectively deal with an attorney in a real estate transaction
Plus: Observations from foreclosure experiences>
Speakers:
Peter Kline & Tony Venture, Miller, Morton, Caillat & Nevis, LLP

To register: please email George Pires @ georgepries@princetoncap.com

Your comments are always appreciated. Thanks for reading.

Update - Sunnyvale Town Center

I came across another article regarding the status of the Sunnyvale Town Center on the Square Foot blog. (I love this blog and read it all the time. He seems to know everything that's going on in the Commercial Real Estate in the South Bay.) It actually from an article from the Mercury News.



It appears that Sand Hill Property Co. (SHPC) is having problems getting financing from the banks that financed the early phases of the project. They need another $450 million in additional loans to complete the $750 million project.



SHPC is hoping that the city could help them secure construction loans by acting as a partner or backer in the deal. SHPC also hopes to get some government stimulus funds



For all you Target shoppers (my wife being one of them), the only construction that is taking place is the building of the new Target store and work related to getting it open as planned in November.



Your comments are always appreciated. Thanks for reading.

Professional Brokers Forum - May 14

The Professional Brokers Forum is back with an interesting topic regarding construction issues.

Date: May 14, 2009
Time: 11:30 - 1:30 PM
Place: 777 North First Street, Mezzanine Room, San Jose
Speaker: Bill Hurley
Topic: Construction Issues of Interest to Real Estate Brokers and Lenders

If you're planning on attending, please RSVP Ron Ricard at ron.ricard@ipx1031.com.

Registration (and lunch) is from 11:30 - 12:00 Noon.

Your comments are always appreciated. Thanks for reading.

Bay Area Apartment Brokers Forum - May 13, 2009

If you've read my blog before, you know that even though I don't specialize in multi-family, I try to go to this forum, to hear their analysis of the current events and marketing trends. If you are doing multi-family deals, you need to go to this forum on a regular basis.

Group: Bay Area Apartment Brokers Forum
Speaker: Michael Pierce - President, California Apartment Associates 2009
Topic: Challenges Facing the Multi-Housing Industry 2009
Date: Wednesday, May 13, 2009 - 8:00 AM
Place: First American Exchange, 1737 North First St., San Jose - 4th Floor
Breakfast: Continental Breakfast - no charge - First American Exchange
Chairman: Richard Domich - CB Richard Ellis, Inc.
Vice Chairman: Keith Suddjian - Cornish & Carey Commercial
Membership: Kari Noomen - WaMu - J. P. Morgan Chase
Sponsor: Mary Kay Kennedy - First American Exchange
Adjournment: 9:30 AM

Note: All present will have an opportunity to present their listings, buyer requirements, as well as their analysis of current events and market trends that directly effect the multi-housing (apartment) industry in Silicon Valley and greater Bay Area.

Your comments are always appreciated. Thanks for reading

NCalCCIM May 12th Luncheon Meeting

Here's another plug for the monthly NCalCCIM Meeting. (Click on the title to go to the invitation and to register.)

NCalCCIM May 12th Meeting Agenda:
9:00 - 10:00 AM Marketing Session
9:00 - 10:00 AM Technology Session
10:30 - 11:30 AM Mentoring Session - Effective Networking - Game Plan & Strategy: Joe Diliberto
12:00 - 1:30 PM Luncheon Meeting - Your Client's Loan Is In Trouble - What Do You Do Next?

There will be opportunities to network between the various sessions.

The meeting will be at the Four Points Sheraton, 5121 Hopyard Road, Pleasanton, CA.

Your comments are always appreciated. Thanks for reading.

Valley Fair Freezes Expansion Plans

I guess that even Westfield Valley Fair isn't bigger than the recession. The Silicon Valley/San Jose Business Journal has announced that Westfield has decided to hold off on the 650K square foot expansion of Valley Fair (click on the title to see the complete article).

The expansion was to include the addition of two new anchor stores Neiman Marcus and Bloomingdale's. The original plans had construction starting sometime this year with completion in the fall of 2011 (just in time for the Holidays).

No new start or completion dates were announced. Westfield will be working with the City of San Jose and Santa Clara to extend the entitlements.

Your comments are always appreciated. Thanks for reading.

Random Thoughts on My Blackberry #2

Gee, I must be getting desperate. I starting to post about my Blackberry now rather than Commercial RE.

I'm starting to appreciate my Blackberry more and more and I am actually fitting it into my business. There is some value to being able to access my emails and response to them within minutes, especially now that I figured out that my filters have to set up on my carrier (T-Mobile).

I've also figure out how to move my Outlook Calendar onto it using Google Sync (except I only pushing one way from the Outlook on my laptop to the Blackberry) and this helps a lot and keeps me somewhat organized. Now if I could figure out how to "push" my Tasks and just some of my contacts (instead of all of them) onto the Blackberry, I would be a happy camper. I guess I'll have to spend some more time going through the "Crackberry" forums.

Your comments are always appreciated. Thanks for reading.

Random Thoughts on Notice of Trustee's Sale

Have you ever noticed how after you buy something, you start to see them all over the place? You buy (or lease) a new car in that special color and all of the sudden, you start seeing the same car in the same color all over the place.

Well, I had that type of moment this morning while looking through the San Jose Mercury this morning. I was discussing a Notice of Trustee's Sale (NTS) with a client yesterday and today, it seemed that in every section I looked at there was a NTS notice.

Was today an extremely heavy NTS day or have I just not been seeing them?

Your comments are always appreciated. Thanks for reading.

Random Thoughts on My Blackberry

Well, I finally succumbed to my kids and have entered the "Blackberry Age". They bought me a Blackberry Curve 8320 (it's nice when both your kids are working) as an early Father's Day present.

Both my son and son-in-law are "Crackberrys", so they've loaded it up with apps and have been trying to explain to me how to use it. (Actually, it hasn't been that difficult since I have grown up through the computer age from a Burroughs mainframe computer to a Blackberry. )

I had a little bit of problem figuring out how to set up the email filters. I finally figure it out and it was a good thing too, considering how many emails I get from all of the commercial brokerages.

So, I'm starting to use it and we'll see where it goes. Hey, at least, it will give me things to post about as I integrate it into my Commercial Real Estate practice. I may even start posting to the blog from it.

Your comments are always appreciated. Thanks for reading.

Update - Sunnyvale Town Center

I was listening to KLIV 1590 this morning (one of my favorite news radio stations, especially for the South Bay) and I heard that work has stopped at the Sunnyvale Town Center (click here to see the complete article).

Apparently, the developers have run out of money and are looking for new investors. They expect to start work again in 2 to 3 months. The developers said that since they have spent approximately 250 million dollars on the project so far, they are committed to the project.

I wish them luck. I would love to see the project completed.

Your comments are always appreciated. Thanks for reading.

Professional Brokers Forum & The Process of Foreclosure

I attended the Professional Brokers Forum yesterday (I got there late and missed out on most of the lunch). It was very well attended, so either it was the topic, the speaker or a lot of brokers wanted to have lunch. (As you can see below, I think it was because of the speaker.)

If you didn't attend because you thought that topic "The Process of Foreclosure" would be terribly boring, then you missed a great presentation by Michael Yesk, Esq.

I've heard Michael speak before (back in the day when Title Companies use to be able to sponsor everything) and he was great. He made this potentially boring topic really interesting with his examples and interaction with the audience.

So, if you get a chance to attend a presentation by Michael Yesk, Esq., you should take it.

Your comments are always appreciated. Thanks for reading.

Professional Brokers' Forum - April 9, 2009

Wow, it's finally back. It been a while since we had a Professional Brokers' Forum (I actually thought that it was gone), but it's back from the dead. This Forum has an interesting mix of brokers and affiliates (it was the first forum that I started attending and lunch is provided by the sponsors).

Professional Brokers' Forum

Date: April 9. 2009
Time: 11:30 - 1:30 PM
Place: 777 North First Street, Mezzanine Room, San Jose, CA
Guest Speaker: Michael Yesk, Esq.
Topic: Process of Commercial Foreclosures
Sponsors: Ron Ricard, IPX 1031 and Peter Kline, Esq., Miller, Morton, Caillat & Nevis

Your comments are always appreciated. Thanks for reading.

Random Thoughts on Virtual Office 3

Well, it's been over 3 months since I've been in my "virtual office" and it's been working fairly well (and you can't beat the commute).

The combination of my landline and my cell phone is working really well. I'm in the process of switching my landline from AT&T to Comcast Home Phone. I'll let everyone know how things work out? Anyone have any experience, good or bad, with the Comcast Home Phone?

I'm still getting out to various marketing meeting and commercial forums, just to get out and see "real" people, instead of contact by phone and email. However, it does appear that attendance seems lighter than they use to be.

The one thing I really miss is the color laser printer that I use to have access to in the office. I'm using a color inkjet printer and it's just not cutting it (especially considering the cost of the cartridges).

BTW did anyone catch the Kodak inkjet printer commercial? I remember reading about how Kodak was going to get into the inkjet market by cutting the price of the cartridges to get you to buy their printers.

Your comments are always appreciated. Thanks for reading.

Bay Area Apartment Brokers Forum - April 8, 2009

If you've read my blog before, you know that I always recommend attending this forum, even if you're not doing any multi-family deals just because the depth of knowledge. If you are doing multi-family deals, you need to go to this forum on a regular basis. (I will admit since I don't do a lot of multi-family deals, I tend to be sporadic in my attendance.)

Group: Bay Area Apartment Brokers Forum
Guest Speaker: Ric Russell -Managing Partner, NAIBT Commercial
Topic: The Future of Multi-Housing Brokerage in the Bay Area
Date: Wednesday, April 8, 2009 - 8:00 AM
Place: First American Exchange Company, 1737 North First St., San Jose - 4th Floor
Breakfast: Continental Breakfast - no charge - First American Exchange
Chairman: Richard Domich - CB Richard Ellis, Inc.
Vice Chairman: Keith Suddjian - Cornish & Carey Commercial
Membership: Kari Noomen - WaMu - J. P. Morgan Chase
Sponsor: Mary Kay Kennedy - First American Exchange
Adjournment: 9:30 AM

Note: All present will have an opportunity to present their listings, buyer requirements, as well as their analysis of current events and market trends that directly effect the multi-housing (apartment) industry in Silicon Valley and greater Bay Area. (IMHO, sometimes this is the most valuable part of the forum.)

Your comments are always appreciated. Thanks for reading.

Nordstrom Returns to Oakridge Mall

Here's something that I never thought I would see. Nordstrom is returning to Oakridge Mall in South San Jose (yes, I know it's a Nordstrom Rack, but it's still Nordstrom).

The Silicon Valley/San Jose Business Journal is reporting that Nordstrom will be opening a 30,000 sf Nordstrom Rack in Oakridge this fall in the space formerly occupied by a Linens 'N Things store that closed last year. (Click on the title for the whole article.)

This will make my wife happy since she has been in mourning since Nordstrom closed their full-line store at Oakridge Mall (replaced by Sears) in 1995. This will be a real good thing for Oakridge Mall and Westfield since it appeared that they were going to have a problem filling that huge space that Linen 'N Things left.

Your comments are always appreciated. Thanks for reading.

Interested In Green Building Technology?

If you're interested in Green Building Technology, there is a special 4-1/2 hour seminar titled: “Energy Efficient Buildings: ‘Green’ Technology That Works” in San Francisco hosted by IREM, CCIM and Realcomm.


Speakers will present new, innovative solutions and case studies for "green" sustainable buildings as well as methods for establishing ROI on these new solutions. This seminar is a "must-attend" for owners, developers, property managers, architects, facility managers, engineers, system integrators and consultants.


Click here to see the agenda. Click here to register. (I just learned how to use these types of links and I had to try them.)


Your comments are always appreciated. Thanks for reading.

Random Thoughts on Get Motivated! 2

I wasn't going to write about the Get Motivated! seminar that I went to yesterday, but then I saw the article that the SJMN had on their front page on Michael Phelps and his participation at the seminar.

I must admit that I was a little ticked off at the attitude that the writer had. It probably wouldn't have hurt if the writer had actually spoken to the people that attended the seminar. I guess that I'm one of the those "underemployed" commercial realtor that attended to get motivated in these difficult times. It probably wouldn't hurt if the writer got a little motivated.

I was there all day. Out of all of speakers, only two of them offered additional seminars and Tamara Lowe plugged her book.

I especially enjoyed Zig Ziglar, Steve Forbes, Rudy Giuliani and Gen. Colin Powell (and they didn't try to sell anything). It was obvious that Michael Phelps (he didn't try to sell anything either) is not a polished motivation speaker, but I cheered for him anyway for his accomplishments and dedication.

I guess that negative news sells better than positive news, but I get a little tired of it. How about you?

Sorry about the rant. Your comments are always appreciated. Thanks for reading.

Random Thoughts on Get Motivated!

I decided to go to the Get Motivated! seminar at HP Pavilion in San Jose tomorrow. Considering the commercial real estate market, I figured that I need some motivation. It was only $4.95 for the seminar and $4.99 for the Get Motivated! workbook for a total of $10.37 (including tax), so I figured that it was pretty cheap if I get motivated.

The interesting thing is that it's being held live at both the Cow Palace in San Francisco and the HP Pavilion in San Jose. I guess that they are going to run the speakers between the two locations. I hope they don't get stuck in traffic.

Has anyone been to one of these seminars? Should I be prepared to be bombarded by email offers? Was it worth it?

Your comments are always appreciated. Thanks for reading.

CCIM SV District Meeting March 31

Here's another plug for our local CCIM Silicon Valley District meeting. This is a good opportunity for the people who don't have the time or don't like to drive to the Chapter meetings in Pleasanton.

Speakers:
Paul E. Chandler - Property Sciences will speak about New Appraisal Regulations plus Current Market Valuations.
Carl San Miguel - Highland Group will speak about NAR's Commercial Source plus Our Current Economic Dilemma.

Location:
The Offices of Miller, Morton, Caillat & Nevis, LLP (a premier sponsor)
25 Metro Dr., 7th Floor, San Jose, CA

Itinerary:
Networking @ Le Boulanger (1st Floor) 8:30 - 9:00 AM
Coffee & Pastries provided.
Meeting (7th Floor) 9:05 - 10:30 AM

Your comments are always appreciated. Thanks for reading.

Random Thoughts on Commercial Real Estate & Technology

I attended the Investment Exchange Counselors Meeting this morning. This group consists of a lot of old-timers in the commercial real estate business and they are very knowledgeable. It's a good meeting.

However, one of the members mentioned that he had to return his Blackberry because it was too complex for him. He went back to his normal cell phone.

This got me to thinking about all the new technology, including social networking, that we have available to us as commercial brokers (especially since my 20-something son is trying to get me to get a Blackberry and I'm weakening).

I blog, I text and I'm on LinkedIn, but I'm not on MySpace or FaceBook nor do I "Twitter". I know of brokers who have gotten clients because they have websites or blogs.

How many of you have gotten deals from the new technology, such as a Blackberry or FaceBook or Twitter and which technology was it?

Your comments are always appreciated. Thanks for reading.

Random Thoughts from the Bay Area Apartment Brokers Forum

Here are some random thoughts from the March 11 Bay Area Apartment Brokers Forum regarding the multi-family market:

1. The general consensus was we're not at the bottom yet.


2. The demand has increased for the larger units. Apparently, more people are sharing apartments.


3. It seems that some landlords are actually reducing rent in order to keep their tenants.


4. The multi-family market is still feeling the credit crunch. The lenders say that they are still lending, but you have to fit in their box (and it's a small box).


5. A bit of positive news. Again, there was a general consensus that the multi-family market would lead when the commercial real estate market starts to come out.

There was also a interesting presentation on "How to Calculate the True Return on Real Estate Investments" put on SIFF Investment Services Inc of San Francisco.

This can be considered a plug for the CCIM Education Program, so if you're not interested, you can stop reading now.

A lot of what they talked about (including their model) was covered in the CCIM classes that I took in order to get my designation. I actually prefer the CCIM model because it allows you to calculate the best, worst and probable cases as well as calculate after tax return on investment for each of the cases.

Your comments are always appreciated. Thanks for reading.

Professional Broker Forum for March 12 Cancelled

Sorry for the last minute notification, but I just heard that the Professional Broker Forum for March 12 is cancelled.

I was looking forward to the restart of the Professional Brokers Forum. Apparently, they had a problem with the speaker cancelling at the last minute and they were unable to find another speaker at the last minute.

Future Dates are April 9, May 14 and June 11 at 777 North 1st St, mezzanine level from 11:30 AM to 1:00 PM.

Your comments are always appreciated. Thanks for reading.

Bay Area Apartment Brokers Forum - March 11, 2008

Here's my usual plug for the Bay Area Apartment Brokers Forum.

Group: Bay Area Apartment Brokers Forum
Guest Speaker: Ivan Fujihara - CEO, SIFF Investment Services, Inc.
Topic: How to Calculate a True Return on Real Estate Investment
Date: Wednesday, March 11, 2008 - 8 AM
Place: First American Exchange Company, 1737 North 1st St, 4th Flr, San Jose
Breakfast: Continental Breakfast - no charge - First American Exchange
Chairman: Richard Domich - CB Richard Ellis, Inc.
Vice Chairman: Keith Suddjian - Cornish & Carey Commercial
Membership: Kari Noomen - WaMu - J. P. Morgan Chase
Sponsor: Mary Kay Kennedy - First American Exchange
Adjournment: 9:30 AM

Note: All present will have an opportunity to present their listings, buyer requirements, as well as their analysis of current events and market trends that directly effect the multi-housing (apartment) industry in Silicon Valley and greater Bay Area. (I think that this is often the best part of meeting, even though I specialize in Office/Industrial properties.)

Your comments are always appreciated. Thanks for reading.

NCalCCIM March 10th Meeting

Here's another plug for the monthly NCalCCIM Meeting. (Click on the title to go to the invitation and to register.)

(Since I have started working "virtual", I make an effort to attend more of these type of meetings since it gives me a chance to network and talk to people face to face.)

NCalCCIM March 10th Meeting will launch a new agenda with revised times for the marketing, mentoring and technology sessions. (There are various combinations of fees for the meeting and the seminar, so please look at the invitation.)

9:00 - 10:00 AM Marketing Session
9:00 - 10:00 AM Technology Session
10:30 - 11:30 AM Mentoring Session - Commercial Lending Roundtable
10:30 - 11:30 AM Candidate Portfolio Workshop
12:00 - 1:30 PM Luncheon Meeting - Negotiating Green Building Leases
2:00 - 5:00 PM Collateralized Sales Seminar

There will be opportunities to network between the various sessions.

The meeting will be at the Four Points Sheraton, 5121 Hopyard Road, Pleasanton, CA.

Your comments are always appreciated. Thanks for reading.

Random Disneyland Thoughts

I just got back from a quick trip to Disneyland. (My brother-in-law was selected as Pharmacist of the Year by the California Pharmacists Association and my wife had to get her "Disney" fix.)

We stayed at the Disneyland Hotel, so we had to walk through Downtown Disney to get to the Park. For the first time that I could remember, there were 3 stores that were dark (2 of the them were fairly large, one was Department 56 and the other was the large movie memorabilia store).

Even though it is "off season", there seem to be less people than usual in Downtown Disney and the Park. (The upside is that the wait for the rides were shorter and you could get a table in the restaurants.)

My wife made an interesting observation. She thought that there were less "cast members" around, so the lines weren't as neat and organized and the park wasn't as clean. This is not to say that the park was messy or the crowds unruly, but it just wasn't as clean and orderly as it use to be. They also cut out the fireworks on both Friday or Saturday night.

So, I guess that even the "happiest place on earth" isn't safe from the economic downturn.

Your comments are always appreciated. Thanks for reading.

LoopNet vs. CoStar

I saw an article in GlobeSt.com (Click on the title for the complete article) today regarding LoopNet and CoStar.

Apparently, both LoopNet and CoStar had filed petitions for preliminary injunctions against each other arguing the other engaged in deceptive marketing practices. However, US District Judge George Daniels did not grant an injunction to either company, according to court papers filed on Friday.

Who do you use and why?

I use both of them for slightly different purposes. I use LoopNet when I'm searching for property listings because I think that they have more listings.

I use CoStar when I want to find out information about a property because I think that they do a better job of researching properties (I've actually seen a CoStar van parked outside of an office building doing property research), but I will use it to search for property listings.

Your comments are always appreciated. Thanks for reading.

What Are You Reading?

What are you reading?

In addition to the San Jose/Silicon Valley Business Journal, various commercial real estate articles and the usual Selling/Business books, I've just finished "Made to Stick" by Dan & Chip Heath.

In "Made to Stick", Chip and Dan Heath explore why do some ideas thrive while others fade away and how do we can improve the chances of worthy ideas "sticking". Hopefully, one of the worthy ideas that I can make stick is me.

I'm also plowing (and I do mean plowing) my way through "Words That Work" by Dr. Frank Luntz. The book has some very interesting ideas, but the type is a little small for my older eyes.

Your comments are always appreciated. Thanks for reading.

2009 State of the Valley Conference

The 2009 State of the Valley Conference is being hosted by Joint Venture: Silicon Valley Network on February 20, 2009 at Parkside Hall from 7:30 AM - 2:00 PM. (Click on the title to register.)


The meeting will bring together a cross-section of the Valley's movers and shakers, from concerned citizens to our elected representatives to business leaders for dialogue and discussions about our Valley's challenges and opportunities.

Due to a prior commitment, I will not be able to attend, but I would love to hear from anyone who does attend.

Your comments are always appreciated. Thanks for reading.

CCIM - CI 101 Financial Analysis for Commercial Investment

Okay, here I am plugging another CCIM course. CI 101, Financial Analysis for Commercial Investment is being offered in Pleasanton from March 30 - April 3.

(I'm trying hard not to be negative in my posts and given the current state of the commercial real estate and the economy, it's been very difficult. Here's something that is positive. I've always figured if I wasn't making any money with my time, I might as well spend my time getting smarter.)

If you're at all interested in using financial analysis in your commercial deals, this is the class to take. It's also the prerequisite for all of the other classes in the CI series. (Click on the title to register.)

The course offers an array of financial analysis concepts and calculations to help you make sound commercial real estate investment decisions. You will learn the fundamentals of profitable investing and apply these concepts to commercial properties.

Plus you can enroll at the 2008 course prices and save $50. How sweet is that?

Your comments are always appreciated. Thanks for reading.

Professional Brokers' Forum Delayed

Back in December, I posted that the Professional Brokers' Forum was going to start up again in February. However, I received an email from Ron Ricard, one of the new sponsors, saying that the next meeting will not be until March 2009.

I'll post the March meeting notice when I get it/

Your comments are always appreciated. Thanks for reading.

Tenant Improvements vs. Free Rent

I saw an interesting article in this week's San Jose/Silicon Valley Business Journal regarding the move from tenant improvement dollars to free rent as an incentive to Tenants.

The consensus of the article is that landlords are offering free rent rather than tenant improvements is order to get tenants to sign leases. Apparently, this is a break from previous downturns, but it does make a lot of sense when you figure that everyone is trying to conserve cash.

Here's a couple of questions that I have:

1. Are you seeing this in the leases that you are doing?
   
2. Does it depend on the size of the property?
   
3. If you are getting or giving free rent, how many months?

Your comments are always appreciated. Thanks for reading.

Bay Area Apartment Brokers Forum - Feb 11, 2009

If you're interested in multi-family properties in the Bay Area, you should try and attend this meeting. There's a lot of experience at this meeting and they are willing to share.

Group: Bay Area Apartment Brokers Forum

Guest Speaker: Larry Souza - Johnson/Souza Group, Inc. - Principal, RE Financial Economist

Topic: Bay Area Multi-Housing Overview 2009

Date: Wednesday, February 11, 2008 - 8 AM

Place: First American Exchange Company, 1737 North First St., San Jose ---- 4th Floor

Breakfast: Continental Breakfast - no charge - First American Exchange

Chairman: Richard Domich - CB Richard Ellis

Vice Chairman: Keith Suddjian - Cornish & Carey

Membership: Kari Noomen - WaMu - J. P. Morgan Chase

Sponsor: Mary Kay Kennedy - First American Exchange

Note: All present will have an opportunity to present their listings, buyer requirements, as well as their analysis of current events and market trends that directly effect the multi-housing (apartment) industry in Silicon Valley and greater Bay Area.

Adjournment: 9:30 AM

Your comments are always appreciated. Thanks for reading.

Random Thoughts on My Virtual Office 2

Well, it's been a month since I started working out of my "Virtual" office. It's working out fairly well. I think that I'm actually spending more time working than when I was working at a regular office.

The eFax is working pretty well, except I really haven't been getting very many faxes.

I did add a new phone (Panasonic) that has both a speaker phone and a plug for a headset. I find that it's easier making a lot of phone calls when I have the headset on. It's definitely nice to have your hands free.

I also find myself making more of an effort to get out to the various broker forums, such as the Bay Area Apartment Broker Forum and the Investment Exchange Counselors Forum as well as the CCIM Meetings.

Your comments are always appreciated. Thanks for reading.

Opportunity to Hear Mark Ritchie, CEO of Ritchie Commerical

I had an opportunity to hear Mark Ritchie, CEO of Ritchie Commercial, speak yesterday at the CCIM Silicon Valley District Meeting.

The format of the meeting was that of an interview conducted between Mark and George Pires, the District President. There were lots of questions covering a variety of subjects.

Of course, one of the questions was "how was business?' I guess I'm a little warped on this, but it was actually good to hear that the commercial real estate business has been slow for a lot of other brokers. I don;t feel so bad now.

There was also a question regarding the characteristics of a success broker. Mark said he tried to come up with the "Top 10 Characteristics of a Success Broker", but found that the characteristics varied between brokers.

However, one of the characteristics that Mark felt was extremely important was to have a "turtle shell" or the ability to let bad things that happen during a deal "roll off" your back. I like that idea and really need to develop my "shell", especially during this year.

Your comments are always appreciated. Thanks for reading.

CCIM - CI 102 - Market Analysis for Commercial Investment Real Estate

I don't know about you, but I'm not extremely busy right now. I'm taking the opportunity to study for the Real Estate Broker's exam. I figure I might as well do something to improve myself.

Since I already have my CCIM Designaton I don't need to take this class again. However, if you've already take CI 101 (which is a prerequisite for Ci 102) and you're not too busy, here's an opportunity to take CI 102 - Market Analysis for Commercial Investment Real Estate in Pleasanton. (Click on the title for additional information and to register.)

In this class, you will analyze historical trends and existing data to assess both current and future market conditions that impact real estate decisions. Economic Base Analysis will be introduced and applied throughout the course. You will learn how supply and demand factors impact a market forecast, as well as gain insight into site feasibility, market dynamics and market pricing.

Date :
Feb 2 - 6, 2009

Location:
CarrAmerica Conference Center
4400 Rosewood Drive
Pleasanton, CA 94588

2010 Commercial Real Estate Recovery?

There was a small article in latest issue of the San Jose/Silicon Valley Business Journal (in the Real Estate Digest column) regarding when we might expect an improvement in Commercial Real Estate.

Stan Ross, chairman of the Lusk Center for Real Estate at USC, thinks that there will not be an imminent improvement in the commercial real estate market. He feels that the lack of liquidity in the market as the major obstacle to improvement this year, although he predicts conditions may improve slightly by 4th Quarter 2009.

He doesn't anticipate that the commercial or residential real estate market will start to grow until 2010. (I hope that he's wrong, but fear that he may be right. The lenders I know keep saying that they have money to lend, but you have to have the "right" investment.)

Your comments are always appreciated. Thanks for reading.

Random Thoughts on My Virtual Office

I changed commercial brokerages at the start of the new year, so I have begun to work out of my "virtual" office (actually the spare bedroom downstairs).

It has actually been a pretty easy transition since I had most of the equipment, my laptop, my broadband connection, my laser and ink jet (for color) printers, my cell phone and a fax machine (yes, some of us still use fax machines). I still haven't decided what to do about the phone system (sometimes it's nice to have a land line), but I'll deal with that later.

My new brokerage provided the email address, web site and mailing address, so that made that part of the office transition painless. However, I decided to get an eFax number (I'll let you know how that works out) so I wouldn't have to get 2 phone lines.

I can already see some of the benefits, i.e., no commute. However, I can also see of the disadvantages, i.e., being too close to the kitchen. I plan on occasionally posting on my transition to my virtual office.

Your comments are always appreciated. Thanks for reading.

CCIM Introduction Course Feb 2 - 3

If you're interested in a career in Commercial Real Estate or thinking of moving from Residential Real Estate into Commercial Real Estate, I would recommend that you consider taking this class. (Click on the Title to register.)

If you're a member of either the Santa Clara County Association of Realtors or the Santa Cruz Association of Realtors, discount pricing is available.

TITLE	Introduction to Commercial Real Estate-San Jose
DATE(s)	02/02/2009 (07:30 AM) - 02/03/2009 (05:00 PM)
ADDRESS	Santa Clara County Assn. of Realtors
ADDRESS	1651 N. First Street
CITY	San Jose
STATE	CA
ZIP	95112
DESCRIPTION	The industry’s premier course for new and potential commercial real estate owners, investors, managers and agents. Emphasis on HP-10BII Calculator. Includes luncheon program on New Commerical Leasing Practices. Sponsored by NCalCCIM and Santa Clara County Association of Realtors.
COST	$395 Early Bird Members.

Your comments are always appreciated. Thanks for reading.

NCalCCIM Jan 13th Luncheon, Mentoring & Marketing Meeting

Oops, I almost forgot to post this meeting announcement.

I always try to plug the NCalCCIM meeting because of the networking opportunities and content of the mentoring and luncheon meetings. (Click on the Title to register.)

Location:
Four Points Sheraton
5121 Hopyard Road
Pleasanton, CA 94588

Schedule:
9:00 - 10:30AM
Mentoring Session: Paul Kingsman & Split Second Success
10:30 - 11:30 AM
Marketing Session
12:00 - 1:30 PM
Luncheon Meeting: Dan Lieberman of Horizon Management - Finding Value Add Apartments and Creating the Value

Your comments are always appreciated. Thanks for reading.

CCIM Silicon Valley Meeting Jan 27

Here's a great way to start the New Year. For their first meeting of the year, CCIM Silicon Valley has Mark Ritchie of Ritchie Commercial as their guest speaker. (Please note the new meeting location.)

Meeting Location:
Miller, Morton, Caillat & Nevis, LLP
25 Metro Dr.
7th Floor
San Jose, CA 95110
Free Underground Parking

Itinerary:
8:30 - 9:00 AM Networking Coffee & Pastries @ La Boulanger, 1st Flr.
9:00 - 10:30 AM Meeting on 7th Flr. (Promptly)

To Register:
email George Pires @ georgepires@princetoncap.com

Your comments are always appreciated. Thanks for reading.

Bay Area Apartment Brokers Forum Jan 14, 2009

Here's one of the forums that I try to attend. There's a lot of multi-family experience here. I especially like Kari's title for the forum.

Group: Bay Area Apartment Brokers Forum - Established 1986 - (23 Years)

Guest Speaker: Kari Noomen - WaMu - J.P. Morgan Chase - The Noomen Team

Topic: How To Survive The Upcoming Financial Doom!

Date: Wednesday, January 14, 2008 - 8 AM

Place: First American Exchange Company, 1737 North First St., San Jose ---- 4th Floor

Breakfast: Continental Breakfast - no charge - First American Title/Exchange

Chairman: Richard Domich - CB Richard Ellis

Vice Chairman: Keith Suddjian - Cornish & Carey

Membership: Kari Noomen - WaMu - J. P. Morgan Chase

Sponsor: Mary Kay Kennedy - First American Exchange

Note: All present will have an opportunity to present their listings, buyer requirements,

as well as their analysis of current events and market trends that directly effect

the multi-housing (apartment) industry in Silicon Valley and greater Bay Area.

Adjournment: 9:30 AM

Your comments are always appreciated. Thanks for reading.

Better Times Ahead for Tenants?

Just in case you might have missed it in the aftermath of the New Year, the San Jose Mercury (Click on the Title to see the complete article) reported that there is going to be a dramatic shift in the power between Landlords and Tenants.

The power will be moving to the Tenants, marked by rising vacancy rates (especially in the retail areas) and weak to no rent growth. For the Landlords, there will be intense competition, more problems with bankrupt Tenants, reluctant Lenders and little, if any, rent growth.

If you're working with Tenants, this is good news except that you'll probably still be working with unreasonable Landlords. If you're working with Landlords, it's extremely important to make sure that they understand the current environment and remain reasonable.

Your comments are always appreciated. Thanks for reading.