The Jacksonville market saw its fair share of activity and some closings in the first quarter, and this trend is continuing in the second quarter. There was almost 800,000 SF of lease transactions in the first quarter, with most of it consisting of four large leases with Global Tissue Group, VCT, Keller Logistics and KWS Tire. There are rumors that Coca Cola Bottling, Wagoner Industries, Gallo Wine, and GE are circling the market for some additional space, too. Along with some larger distribution users taking down some space, several smaller users in the 10K – 30K SF range also purchased buildings. All of them were likeminded, in that they had been leasing space for awhile and felt if they were ever going to buy, now was the time. I have personally completed two sales this year in this size range, with a third pending, and have seen three others completed by my competitors.
I don’t believe we are, by any means, out of the woods with this recession, but it is nice to see some deals getting completed. I believe the recovery will be slow and painful with sporadic job creation here and there, with the biggest factor being the lack of confidence the country’s business owners have in our government right now. I think the August 2nd debt ceiling deadline will be a huge issue for a lot of businesses that are waiting to see what the government will do and how it will affect this country. I hope and pray our country’s leaders can figure this out and restore the confidence of our business community nationwide.
To finish on a lighter note, the weather in Jacksonville has been great, and my golf game is getting a little better, as I have made it out to play a couple times in the last two months. The ocean water is nice and warm to swim in, and for the past couple weeks, the waves have been pretty good, too. So, if you’re reading this, and you’re outside of the Jacksonville area, you need to come and visit and take in all the great activities our city has to offer. Until next time; have fun out there!
Jacob Horsley
NAI Commercial Jacksonville, Inc.
Industrial Group
Monday, June 13, 2011
Tuesday, February 15, 2011
CRE Buyers Are Out in Full Force
Well, 2011 is in full swing now, and in our great city, it seems industrial warehouse leasing is picking up, as is small businesses. There have already been several lease deals completed in Jacksonville this year ranging from 180,000 SF down to 5,000 SF, with many more in the works. The brokerage community seems to be more upbeat than last year at this time and more confident regarding what the rest of the year will bring us. What surprises me most right now, however, is all the buyers in the market. From the small business owner to the large institutional investor, they are looking to acquire property in Jacksonville. In the past year or two, there have been limited buyers in the market due to the lack of available capital and quality product on the market. Now, it seems times are changing, with more quality product becoming available, and more buyers having access to capital. SBA lending seems to be leading the way for the small business owner looking to acquire a new facility. On the investor side, more money has been raised over the past couple years from private investors looking for a stable and secure investment vehicle to place their money. While the stock market has definitely seen its gains over the past 12+ months, many investors feel it is artificially inflated and due for a course correction. With real estate prices where they are today, it seems that the upside potential is there to make a nice return.
Some buyers with whom I am currently working are each telling me a familiar story - they have been leasing for several years, and their business has made it through the recession and is still standing. They have some capital on hand for a down payment and have great relationships with their respective banks that are willing to lend. They all feel now is a great time to take advantage of the real estate market, and I have to agree. Prices have reverted to early 2000 levels, and from all I have read about economic conditions and our local real estate market, they should see slow, but steady, gains in their real estate holdings over the next several years. I hope, for their sakes, as well as mine, I am right!
Well, the market and the weather here in Jacksonville seem to be taking a turn for the better, and I personally can’t wait to get back on the golf course and get my game in shape! I hope all of you reading this are doing well, and if anyone has any questions on his/her industrial neighborhood, send me an email with your questions or give me a call. I would be happy to answer any and all questions. Until next time, have fun out there!
Jacob Horsley
NAI Commercial Jacksonville
Industrial Group
Some buyers with whom I am currently working are each telling me a familiar story - they have been leasing for several years, and their business has made it through the recession and is still standing. They have some capital on hand for a down payment and have great relationships with their respective banks that are willing to lend. They all feel now is a great time to take advantage of the real estate market, and I have to agree. Prices have reverted to early 2000 levels, and from all I have read about economic conditions and our local real estate market, they should see slow, but steady, gains in their real estate holdings over the next several years. I hope, for their sakes, as well as mine, I am right!
Well, the market and the weather here in Jacksonville seem to be taking a turn for the better, and I personally can’t wait to get back on the golf course and get my game in shape! I hope all of you reading this are doing well, and if anyone has any questions on his/her industrial neighborhood, send me an email with your questions or give me a call. I would be happy to answer any and all questions. Until next time, have fun out there!
Jacob Horsley
NAI Commercial Jacksonville
Industrial Group
Wednesday, January 12, 2011
TWITTER, FACEBOOK, LINKEDIN, AND THE EVOLVING BUSINESS WORLD
When was the last time you got on Twitter, Facebook, or LinkedIn for business or personal use? Chances are you are probably logged in to one of them right now or have used one of these sites sometime today. It seems that you cannot find a retailer, corporate, or privately-held business that does not have one or all of these accounts set up to attract business and referrals or to simply stay in touch with customers. I have recently jumped on the social-networking bandwagon and am working on how to shamelessly promote myself and my business. I have found an unbelievable amount of information on Twitter from, coupons, and up-to-the-second news about everything from real estate to the new Verizon iphone that will be released on Feb. 4th. Sometimes, I feel that I may not need to go through my list of online periodicals to get up-to-the-minute news about my industry, but to just login to my Twitter account and watch my feed.
I am finding that this new wave of social media is not just a fad but seems to be here to stay, and businesses are all over it. I mean, just think - you can reach thousands with just the click of a mouse and promote your new ideas and products. I would love to find out how your business is using one of these social media outlets and what you are posting. Is it just products and coupons, or have you discovered another way to use these outlets?
Currently, I am using Twitter as a way to keep my followers up to date with what I am reading about the industrial real estate market and relevant Jacksonville news. I also plan to post some new listings and recent sales, as they occur, but I am looking for other creative ways to use these accounts. I recently read that there is a coffee shop on the West Coast that is using Twitter to take their customers’ coffee orders. Just think, you can tweet what you want, show up at their store, and it’s ready for pick up… how cool is that!
So, if you’re willing to share how you’re using the social media outlets, I would love to hear from you, and I will elaborate some more on what I am doing too… maybe we can all learn something from each other.
Jacob Horsley
NAI Commercial Jacksonville
Industrial Group
I am finding that this new wave of social media is not just a fad but seems to be here to stay, and businesses are all over it. I mean, just think - you can reach thousands with just the click of a mouse and promote your new ideas and products. I would love to find out how your business is using one of these social media outlets and what you are posting. Is it just products and coupons, or have you discovered another way to use these outlets?
Currently, I am using Twitter as a way to keep my followers up to date with what I am reading about the industrial real estate market and relevant Jacksonville news. I also plan to post some new listings and recent sales, as they occur, but I am looking for other creative ways to use these accounts. I recently read that there is a coffee shop on the West Coast that is using Twitter to take their customers’ coffee orders. Just think, you can tweet what you want, show up at their store, and it’s ready for pick up… how cool is that!
So, if you’re willing to share how you’re using the social media outlets, I would love to hear from you, and I will elaborate some more on what I am doing too… maybe we can all learn something from each other.
Jacob Horsley
NAI Commercial Jacksonville
Industrial Group
Subscribe to:
Comments (Atom)