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Anyone looking for vacant land in Metairie to build a commercial building knows that it is a needle in a haystack challenge.
A quick drive down any major thoroughfare in the area will NOT result in a list of vacant sites that you can easily select from. And of the available sites, many permitting and zoning challenges exist that create even more road blocks to development.
Vacant land is also hidden or disguised, usually with older obsolete buildings that need to come down in order to uncover the vacant land. Given the fact that most owners of these properties know the value of their "land", and that it currently provides income to them, it makes it all the more difficult to reach a price that is acceptable to both parties.
So what is a developer to do?
First, in any development project, there needs to be a driver. Fortunately, many retailers and companies see the New Orleans and south shore market as a very attractive place to locate. The population, traffic and demographic numbers create the perfect mix of business elements to make money.
In retail specifically, this means a visible, well traveled, major thoroughfare location that will provide convenience and accessibility to the customer they are trying to reach. Finding that perfect site is the needle in the haystack scenario. Although in the case of the south shore, its a very small haystack. There are only a handful of major thoroughfares that meet the retailers criteria.
Consider that in East Jefferson there is only one interstate(I-10), only one major east/west State Highway(Hwy 61-Airline Drive) and only one major east/west retail or commercially zoned corridor(Veterans Mem. Blvd.). And north/south roadways are even more limited with only one major thoroughfare connecting I-10 to the westbank(Clearview Parkway).
So finding a 28,420 sf site, located across from a major grocery store, at a traffic light, with 90k cars per day is a rare find. But it does exist. You can find it here. http://www.lacdb.com/listing/28293324
Wednesday, October 24, 2012
The Truth About Office Leasing
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Office Leasing: Now there's a sexy topic. However, if you are in business, it is the essence of your daily environment.
The truth about office leasing first depends upon your company’s individual need. The truth is most companies, large or small; do not know HOW to assess their needs.
The first step is to know what business you are in. Are attorneys in the "legal" business or are they in the problem solving business? If so, what type of problems are they solving, and what type of people have those problems, and where are they located?
Are your customers downtown, uptown, suburbs, east bank, west bank?
Another assessment is the need for visibility and accessibility. Are your clients better served navigating a parking garage, then an elevator bank, just to see the incredible view from your office? Or is the view just for you.
Do you need visibility or image space?
One consideration that many companies never consider is the type of lease they are entering into. If an owner provides money for tenant improvements, they are in essence lending you money to improve your space. And with a loan comes repayment terms and provisions that WILL end up in legal proceedings to collect a debt in event there is a default.
Which type of lease is right for your operations? A gross lease may be the route to go. It may be more expensive, but it is the least cumbersome on your operations since you pay one rent payment which covers all utilities, maintenance, janitorial, etc. Having a maintenance staff is better than wasting your time trying to get stains out of a carpet.
And size does matter. The days of wasted office space are over. The average 5,000sf office can be reduced down to 1,500 sf. There is no longer the need for mail rooms, copy rooms, larger server rooms, etc. Collaboration functionality and efficiency is built in to most office furniture and systems reducing the need for multiple conference rooms. And of course technology has reduced the need for many office functions, such as filing systems and has increased the remote capabilities of most businesses. All of these advances continue to reduce the square footage needed to operate most businesses.
So the truth is.....with an honest analysis of your operations coupled with the insight of a commercial real estate professional, you can significantly improve your effectiveness and reduce hard cost in one move, putting your business on firm ground for the future. If you would like that insight and analysis, please contact us today to discuss your situation.
If you need space in east jefferson, go to http://www.lacdb.com/listing/28291866
Office Leasing: Now there's a sexy topic. However, if you are in business, it is the essence of your daily environment.
The truth about office leasing first depends upon your company’s individual need. The truth is most companies, large or small; do not know HOW to assess their needs.
The first step is to know what business you are in. Are attorneys in the "legal" business or are they in the problem solving business? If so, what type of problems are they solving, and what type of people have those problems, and where are they located?
Are your customers downtown, uptown, suburbs, east bank, west bank?
Another assessment is the need for visibility and accessibility. Are your clients better served navigating a parking garage, then an elevator bank, just to see the incredible view from your office? Or is the view just for you.
Do you need visibility or image space?
One consideration that many companies never consider is the type of lease they are entering into. If an owner provides money for tenant improvements, they are in essence lending you money to improve your space. And with a loan comes repayment terms and provisions that WILL end up in legal proceedings to collect a debt in event there is a default.
Which type of lease is right for your operations? A gross lease may be the route to go. It may be more expensive, but it is the least cumbersome on your operations since you pay one rent payment which covers all utilities, maintenance, janitorial, etc. Having a maintenance staff is better than wasting your time trying to get stains out of a carpet.
And size does matter. The days of wasted office space are over. The average 5,000sf office can be reduced down to 1,500 sf. There is no longer the need for mail rooms, copy rooms, larger server rooms, etc. Collaboration functionality and efficiency is built in to most office furniture and systems reducing the need for multiple conference rooms. And of course technology has reduced the need for many office functions, such as filing systems and has increased the remote capabilities of most businesses. All of these advances continue to reduce the square footage needed to operate most businesses.
So the truth is.....with an honest analysis of your operations coupled with the insight of a commercial real estate professional, you can significantly improve your effectiveness and reduce hard cost in one move, putting your business on firm ground for the future. If you would like that insight and analysis, please contact us today to discuss your situation.
If you need space in east jefferson, go to http://www.lacdb.com/listing/28291866
Thursday, September 20, 2012
View from the helipad at Exchange Centre
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What an opportunity I had last night to view the city from atop the Exchange Centre building. It was a great view coupled with great weather. But the feeling of looking over the city and knowing that economic activity and change is taking place every where you look, was very comforting. The visual gave you a sense that things are getting better and we are growing, and its just not hype. Seeing cranes in the air from the VA project was one of the most inspiring sights. To see development and progress from that vantage point can alter your perception of the city.
You have to recognize that this view(right) of Rampart Street will be changed forever once South Market District opens. It has already changed with Rouses and others. I remember vividly the proposals after the storm for this area. Every city council meeting had a new developer with great looking building proposed for various sites, and they all were going to transform the skyline. Well, in all fairness, it does take a while to transform a skyline. So the fact that we are just now seeing these changes, within 7 years of the storm, is actually a remarkable achievement. In order to drastically change a skyline, I would expect at least a decade or more. But looking down O'Keefe from Poydras, you can see evidence of those changes. The Exchange Centre building signage is visible and the pedestrian activity at Poydras and O'Keefe is robust.
So when the news is...well...the news, do yourself a favor and get on top of a building and look at the city from a different perspective.
You have to recognize that this view(right) of Rampart Street will be changed forever once South Market District opens. It has already changed with Rouses and others. I remember vividly the proposals after the storm for this area. Every city council meeting had a new developer with great looking building proposed for various sites, and they all were going to transform the skyline. Well, in all fairness, it does take a while to transform a skyline. So the fact that we are just now seeing these changes, within 7 years of the storm, is actually a remarkable achievement. In order to drastically change a skyline, I would expect at least a decade or more. But looking down O'Keefe from Poydras, you can see evidence of those changes. The Exchange Centre building signage is visible and the pedestrian activity at Poydras and O'Keefe is robust.
So when the news is...well...the news, do yourself a favor and get on top of a building and look at the city from a different perspective.
Monday, September 3, 2012
Solar???? hmmm, starting to sound good
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Power outages are making a good case for solar power. Just talked with a solar company rep and was given some good tips.
The "lease" plan is still dependent upon the grid. If you lose power from the grid, the panels and equipment shut off because they will put power back into downed lines.
The battery storgage type of systems seem the most logical and practical. This option may seem to be cost prohibited, however, I feel that a choice to go solar is a larger committment to removing your self from the dependancy of the utility company rather than saving a few dollars.
If you weren't dependent on entergy, you would be enjoying your Labor Day, and the previous 5 days, in the a/c, at home, doing laundry and cooking.
But do we care enough? My guess is that we will be back to normal in a couple of days and not even remeber that the lights went out. Our collective short term memory will keep us sucking on the power line for light and life, like a herd of cattle.
The "lease" plan is still dependent upon the grid. If you lose power from the grid, the panels and equipment shut off because they will put power back into downed lines.
The battery storgage type of systems seem the most logical and practical. This option may seem to be cost prohibited, however, I feel that a choice to go solar is a larger committment to removing your self from the dependancy of the utility company rather than saving a few dollars.
If you weren't dependent on entergy, you would be enjoying your Labor Day, and the previous 5 days, in the a/c, at home, doing laundry and cooking.
But do we care enough? My guess is that we will be back to normal in a couple of days and not even remeber that the lights went out. Our collective short term memory will keep us sucking on the power line for light and life, like a herd of cattle.
Tuesday, August 21, 2012
Retail makes a come back in Algiers
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The property formaly known as Village Aurora is now being transformed into Algiers Plaza, and finally brining back retail to the Algiers market. Joe Mann describes the turning points that got this proposed project off the ground.
Economic Development and Commerce Merge
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Chris Kane with the Algiers Economic Development Foundation discusses the changes that the city, state and federal government has made that has encouraged new economic development such as Algiers Plaza.
http://www.adamsandreese.com/christopher-j-kane/
For a list of bank-owned properties for sale, email a request to info@ecommrealty.com
http://www.adamsandreese.com/christopher-j-kane/
For a list of bank-owned properties for sale, email a request to info@ecommrealty.com
How do you convince retailers to come to a market????….Brokers
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And now......for something totally different, we have a call-in from a local comedy act who is bringing something new to the New Orleans comedy scene. British humor??? Clean comedy??? The call throws the host off, now that was funny!
Behind every great retailers is a great broker. Commercial real estate brokers are the best salesforce of New Orleans, we sell it and know it, better than anyone. Of course, our local economic developers do the same and our guest Joe Mann and Chris Kane discuss how its done.
Behind every great retailers is a great broker. Commercial real estate brokers are the best salesforce of New Orleans, we sell it and know it, better than anyone. Of course, our local economic developers do the same and our guest Joe Mann and Chris Kane discuss how its done.
The rebirth of a Legend-Lakewood Golf
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One of the most popular golf courses in the city makes a come back. This project demonstrates how to turn around a golf course and create economic development by bringing back a legend. This course was a former PGA Tour stop and is set to become a resort and convention destination. Being only 5 mins from downtown, this property is poised to become a jewel in the redevelopment of the city.
For a list of bank-owned properties for sale, email a request to info@ecommrealty.com
For a list of bank-owned properties for sale, email a request to info@ecommrealty.com
Monday, August 6, 2012
Louisiana Film History Dates Back to…?????
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How far back does the film industry date back to? Was New Orleans the first to have an indoor movie theater?
Why does our film history matter? How can we use it? Where was the last scene in Easy Rider filmed?
Ed and Susan Poole with Global Cinema Research discusses all of this and more. Global Cinema Research is an international company that is located in Gretna, LA and provides research and valuation services to film industry clients across the globe. www.HollywoodontheBayou.com and www.learnaboutmovieposters.com
Why does our film history matter? How can we use it? Where was the last scene in Easy Rider filmed?
Ed and Susan Poole with Global Cinema Research discusses all of this and more. Global Cinema Research is an international company that is located in Gretna, LA and provides research and valuation services to film industry clients across the globe. www.HollywoodontheBayou.com and www.learnaboutmovieposters.com
Bad school lunch is a thing of the past
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Remember your school's cafeteria and lunches. The frozen pizzas, meatloaf surprise, and of course.....Sloppy Joe's. The lunch lady may have changed her ways, now she cooks with real food and its healthy!!! Hopefully, they still wear the hair nets though. (yes, we play the Adam Sandler Lunch Lady song)
A new company has entered the school lunch market and will be serving up healthy and fresh meals for students, not only for the nutrional benefits, but to provide a better learning environment. And creating 50 new jobs in the process.
Revolution Foods is revolutionizing the school lunch industry. Hear their start up story and how New Orleans is in the early stage of this food revolution. www.RevolutionFoods.com
A new company has entered the school lunch market and will be serving up healthy and fresh meals for students, not only for the nutrional benefits, but to provide a better learning environment. And creating 50 new jobs in the process.
Revolution Foods is revolutionizing the school lunch industry. Hear their start up story and how New Orleans is in the early stage of this food revolution. www.RevolutionFoods.com
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