I often think of an African proverb shared by Kip Reader, Managing Partner of Ulmer & Berne:
According to Steve Timmel of Grubb & Ellis West Shell 94% of the Cincinnati area office/industrial deals completed in the last 36 months have been to buyers from outside the Greater Cincinnati area. This statistic is astounding ! What is it about the Greater Cincinnati commercial real estate market which is so attractive to
Almost all new build shopping centers are mixed use – they include some combination of office and residential in addition to the retail space. Elizabeth Hamilton, in house Real Estate Counsel at Office Depot, recently reminded me of the special problem this presents in allocating CAM, taxes and insurance. Some portion of each must be
An interesting situation has come up several times just recently (these issues come in droves – after never confronting the issue for a really long time, all of a sudden you get the same issue coming up again and again):
Recently, David Birdsall, Chief Development Officer for Phillips Edison, spoke to a group of real estate industry executives about the state of the retail industry and its impact on retail real estate. Dave believes we are at the dawn of a new/old retail era. Dave showed how the internet is changing how consumers shop and will
Our good friend, Abe Schear, Chairman of the Leasing Practice Group at Arnall Golden Gregory in Atlanta, pens a newsletter called Baseball Digest(able). Abe’s January issue is a powerful piece of insightful writing which merits all of our attention. Since many of the deals in the real estate industry occur as a
In 2005 the United States Supreme Court in Kelo v. City of New London upheld the actions of the City of New London, Connecticut (the “City”) in forming a non-profit corporation to redevelop the Fort Trumbull area of the City. In order to capitalize on Pfizer, Inc.’s (“Pfizer”) private development of an adjacent research facility
The Leadership in Energy and Environmental Design (LEED) certification by the U.S. Green Building Council is a certification program for the design, construction and operation of commercial and residential “green” buildings. Although the LEED certification program includes a neighborhood design component, one area not specifically addressed by LEED is landscape design. In an effort to establish a
In October, 2009 Morgan Stanley published its Mall and Lifestyle Center Handbook. (Special thanks to Stephen Baumgarten, Senior Vice President Wealth Advisor Morgan Stanley Smith Barney Beachwood, Ohio for sharing the handbook with us). The handbook is a must read for all retail developers, lenders, investors and retailers to understand the market forces impacting shopping
We have been following the continuing saga of the homeowners affected by Chinese drywall used mainly throughout Florida, Louisiana and Virginia when U.S. supplies ran low. According to affected homeowners, the Chinese drywall emits a gas that causes health problems such as headaches and nosebleeds, erodes metal and electrical fixtures, and leaves a foul rotten egg