CRE Report 05.21.21
May 24, 2012 at 7:07 pm | Posted in Radio Show Reports | Leave a commentTags: Auction, Copper Theft, sperry van ness
Copper theft on the rise
Bob – Walt there has been some news stories lately of copper theft from commercial properties. It seems to be a growing problem. What can property owners do to protect themselves from copper theft?
Walt – Good morning Bob, this problem is serious and it is expensive for property owners when it happens. The Albuquerque Board of Realtors was shut down the other day when copper was stolen from the main transformer to the building.
Image Credit: http://sfist.com
I have had three buildings we are trying to sell or lease have copper stolen in the same way from the main transformer to the property. An industrial building experienced the theft just last week and an office building a month ago.
I had one owner that had it stolen, replaced it, had it stolen the next day, replaced it and had it stolen again. It’s crazy!
Bob – What is the solution? This sounds like a difficult problem.
Walt – It is a tough dilemma for property owners. One strategy we have implemented is to combine the building alarm with arming the exterior panel so if anyone tries to open the exterior electrical panel the alarm will go off. Another solution is to increase lighting around the building and to take all necessary steps to secure access to the building’s main electrical panel.
It can happen so quickly and it can happen to any building in Albuquerque. If anyone sees any activity around a building that is at all suspicious call 911 immediately.
Even if the building has insurance coverage the amount of disruption to tenants or your day-to-day business is significant. And my last piece of advice on copper theft is if the building is vacant have a discussion today with your insurance agent today regarding a vacant building and copper theft, because it might not be covered in that scenario.
Bob – Walt, two more days to your Auction, this is your last chance to tell our listeners about it.
Walt – Yes thanks to KKOB and the mega 50,000 watt blow torch to let me talk once more about our auction of 401 San Pedro this Wednesday from 11:00am to 3:00pm. The best news is there is still time to get signed up. Give me a call at 256-1255; the auction site is www.auctionsvn.com/sanpedro. 401 San Pedro is a 4,900 square foot originally listed at $330,000; the opening bid is $190,000.
Bob – How can people reach you again to talk about commercial real estate?
Walt – Thanks Bob, call me Walt Arnold at Sperry Van Ness, 256-1255. Sperry Van Ness is a full service commercial real estate company in 160 markets across the country. If you have a requirement for sales, leasing and property management or tenant representation let’s get together and discuss your specific needs.
Bob, have a great Memorial Day weekend and I will talk to you in a couple of weeks
CRE Report 05.14.12
May 16, 2012 at 11:19 pm | Posted in Radio Show Reports | Leave a commentTags: 401 San Pedro, Auction, opportunities, preventative maintenance, property maintenance, property management, radio show, repairs, roof, ROof Repair
Property Maintenance
Bob – Walt, what do you have for us today?
Photo Credit: http://www.brigley.com/
Walt – Good morning Bob. I thought it would be a good time to talk about some property management. One area where a few hours of investigation in property management can save thousands of dollars is preventative maintenance on the roof.
Bob – Walt the thought of the roof and any repairs makes me think of one question, “How much is it going to cost”?
Walt – Well roofs are expensive and the way to keep the costs down is to make the roof last as long as possible and minimizing repairs. The word is “preventative maintenance”. Basic roof maintenance can save thousands of dollars byincreasing the life of the roof and reducing maintenancecosts. Here are some basic bare bones tips on roof maintenance:
1. You can’t see the roof from the ground. I know this sounds elementary but someone has to get on the roof to survey any maintenance issues.
2. Check for ponding on the roof. Areas of ponding will cause problems. Get with your roofer and determine a course of action regarding ponding.
3. Take pictures or have your roofer take pictures and make notes on each photo. It is so much easier to understand when you can see the problem.
4. Make sure the roof drains and canales are free of debris. A clogged drain can lead to severe roof problems.
A few dollars for the inspection and maintenance of necessary repairs can save thousands of dollars if the roof can be maintained and repairs kept to a minimum. Conduct a roof inspection at least once a year, twice is better.
Bob – Walt, Sperry Van Ness manages a substantial portfolio of commercial properties, can you tell us a little more about your property management services?
Walt – We manage approximately 500,000 square feet of commercial space and work diligently every day to preserve the asset and increase the cash flow. Property management is the nuts and bolts of the commercial real estate industry. Irene Carr, property manager, and Barb Buell do a great job in handling the day-to-day details of serving our owners, tenants and managing the properties.
We manage vendors, contractors, pay bills, collect rents, deal with insurance and mortgages and provide in depth analyses on all activity on the property and also provide financial reports on a monthly basis. Get out of town and let us handle all the details!
Bob – How can people contact you to discuss commercial real estate?
Walt – Quickly, I have to get in a word on the auction of 401 San Pedro. Originally listed at $330,000. Opening bid is $199,000. Call me for details at 256-1255, don’t miss this opportunity. Auction is next Wednesday May 23, 2012 from 1:00 AM to 3:00 PM. It’s an online auction. Get signed up and participate in this excellent opportunity. Also follow me on twitter @waltarnold or become a fan of Sperry Van Ness on Facebook for daily up to date Abq CRE news updates. Bob, have a great week!
CRE Report 04.23.12
May 14, 2012 at 9:31 am | Posted in Radio Show Reports | Leave a commentTags: Albuquerque Apartments, Albuquerque Commercial Real Estate, Apartments, Auction, develop, development, sperry van ness, vacancies, Vacancy Rates, walt arnold
Albuquerque’s apartment market continues to thrive.
Bob -Walt, what is going on with Albuquerque’s commercial real estate this week?
Walt – Good morning, Bob. The apartment market continues to shine as the choice for real estate investors, developers and sellers. All this good news has opened the door for development in multi-family properties.
Development is starting; a local real estate group is developing 201 units at Eagle Vista on the Westside, with more units
planned. Rob Dickson (Albuquerque High developer) is planning to convert the De Anza Motor Lodge into 50 apartments in a 4.5 million dollar project. Titan Development and Phoenix Alliance Residential are planning projects in the northeast heights.
Some other projects are American Real Corp’s 568 units south of the Westside Costco along with a 166-unit expansion at the Aspens, Bay Hill Development is building 240 apartments at Coors and Montano and Real Capital Solutions is adding several hundreds units as expansion to Westside projects. So projects are in the works and working their way to construction!
Bob—-With all these planned projects coming on the market, what will happen with the vacancy? Is this going to create an overbuilt situation?
Walt – Even with all these apartments, it will have little impact on the vacancy rate, as these units will be absorbed quickly.
With the increased requirements to get into a home loan, more people will remain in the rental market. And this scenario could continue to play out for some time with the low interest rates available on multi-family, decreasing land prices (which helps the developers make their projections to build) and the increased demand for rental housing, the multi-family market for investors, developers and sellers will remain a strong play in this market.
Bob – On to another topic! You have an auction coming up with the Auction set for May 23. What are the details on the Auction?
Walt – Yes, 401 San Pedro NE, located just south of Lomas, the building is a 4,952 square foot multi-tenant building. This property is a little gem across from the Fairgrounds. It is an attractive property set for Auction on Wednesday, May 23rd. This property works well as a small multi-tenant investment property or another possibility is for an owner user with some tenants to help pay any debt obligations.
It’s an online auction from 11:00 AM to 3:00 PM on May 23rd. The auction website is www.auctionsvn.com/sanpedro. Again, that’s www.auctionsvn.com/sanpedro. This property will be sold on May 23rd; the opening bid is $199,000.
Bob – Walt, how can people reach you today?
Walt – Thanks Bob, my direct line is 505-256-1255. Did I mention the auction website? www.auctionsvn.com/sanpedro. This is an opportunity to acquire a nice, well maintained property in northeast Albuquerque. The online auction process makes it easy to participate and we have all the documents up on the website to review. Also check out my new and improved website waltarnold.com or follow me on Twitter @waltarnold or become a fan of SVN on Facebook for daily CRE news updates.
Thanks Bob for the time today, have a great week.
Albuquerque Commercial Real Estate Report 7.12.10: Retail Markets
July 21, 2010 at 9:40 am | Posted in Radio Show Reports | 1 CommentTags: acquisitions, albuquerque, asset, Auction, banks, CRE, economy, for sale, industrial, investments, leased space, listings, market, market report, New Mexico, opportunities, property, real estate, retail, sperry van ness, tenant, walt arnold
>>> Click here to listen to the Commercial Real Estate Report 7-12-10 <<<
Bob Clark, News Radio 770 KKOB: Walt you had a few things to talk about today. What do you want to start with?
I wanted to talk a little about the retail market which took a cautionary track in June. Although sales numbers were mixed, consumers just aren’t stepping up and spending at the pace retailers expected. This news is part of a larger downshift as consumer confidence slumped last month and consumer borrowing also fell.
Unfortunately the bounce back retailers were hoping for is not happening. So retailers are still in for a tough road.
Bob: You also had some economic news from Sperry Van Ness you wanted to discuss.
Yes, Sam Chandan, an economist had some interesting information last week.
What he said is that there is a lag when the underlying conditions begin to improve and although the recession is technically over, it sure doesn’t feel like it and the main reason is the Labor markets still remain challenged.
We have had growth in the labor markets for 6 months in a row. So, technically we are coming out of this recession better than the 2001 recession, but it is going to take some time for the fundamentals to improve and show meaningful improvement in commercial real estate properties. Continue Reading Albuquerque Commercial Real Estate Report 7.12.10: Retail Markets…
Lender Ordered Auction: Commercial Real Estate Industrial Warehouse Albuquerque, New Mexico
July 19, 2010 at 8:47 am | Posted in Property Listings | 4 CommentsTags: acquisitions, albuquerque, asset, Auction, commercial, CRE, for sale, investment, investments, leased space, listings, market, New Mexico, office, opportunities, property, real estate, sperry van ness, walt arnold, warehouse
9920 & 10000 Trumball SE, Albuquerque, New Mexico | View Google Map!
Auction Date and Time
August 5, 2010 @ 11:00 AM
Public Inspection Date and Time
July 29, 2010 11:00 AM – 1:00 PM
• Well maintained industrial flex space consisting of two legal separate buildings that have been joined to create one structure.
• 19,757 +/- square feet of useable warehouse space
• Built in 1970
• Zoned M-1
• Improvements sit on 1.06 +/- acres
• 6 Ground Level Doors
• Excellent location – just blocks from Central Avenue
• In close proximity to Interstate 40
• 154 miles from Kirkland Air Force Base
• Foreclosed Lender orders Nationwide Portfolio Liquidation – Buy Now at Your Price!
• Offers considered pre-auction, Seller Financing Available to qualified buyers
• No Back Taxes & No Liens – Clear Title with Title Insurance Provided! Continue Reading Lender Ordered Auction: Commercial Real Estate Industrial Warehouse Albuquerque, New Mexico…
Walt Arnold, SIOR, CCIM
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