The Commercial Alliance of REALTORS is pleased to welcome the following new members:
David Clark, Nederveld, Inc.
Charlie Hoats, Newmark Grubb Cressy and Everett
Drew Nelson, Signature Associates
Larry Snider, 1-800-Lawfirm
Welcome to CAR!
Archives for May 2014
ULI Presents “A River Runs Through It” – June 5
A River Runs Through It will focus on three past, present and future river-related projects in Michigan:
Arcadia Creek, Kalamazoo
Steve Deisler, Downtown Kalamazoo Incorporated (DKI)
Jack Hopkins, Jack hopkins Consulting Services, LLC
For more than a century, Arcadia Creek lay buried under the streets of Kalamazoo. A section of the creek was uncovered in 1995, leading to an economic resurgence within the surrounding area –which had been in decline since the 1980s- including the development of new businesses, a museum park and Kalamazoo’s Festival Place. Jack Hopkins, founder of Jack Hopkins Consulting Services, LLC, and former President/CEO of the Kalamazoo Community Foundation and Steve Deisler, President of Downtown Kalamazoo Incorporated (DKI) will discuss the challenges of daylighting Arcadia Creek, the opportunities presented by such a project and lessons learned throughout the process of reactivating both the creek and the space surrounding it.
The Clinton River, Pontiac
Representatives of the Larson Center for Leadership class of 2013
Many people have no idea there is a river flowing underneath downtown Pontiac. Much like Arcadia Creek, the Clinton River was buried due to factors such as expanding industrial and commercial development and annual flooding issues. Also like Arcadia Creek, the economy of the surrounding area has spiraled downwards in the years since. The result of collaboration between ULI Michigan’s Larson Center for Leadership and Oakland County, Daylighting Potential of the Clinton River: A Feasibility Study in Pontiac, Michigan was produced by participants of the 2012-2013 Larson Center for Leadership class through the center’s Technical Assistance Program component. The report outlines the current state of the river, the infrastructure above it and the municipality through which it flows, examines the practical and fiscal aspects of such a project and details a thorough plan for a daylighting alternative that could result in the desired economic surge “blueways” have been known to bring to urban areas.
Grand River, Grand Rapids
Chris Muller, Grand Rapids White Water
Chip Richards, Grand Rapids White Water
Chris Muller and Chip Richards of Grand Rapids Whitewater will present the recently released preliminary plan to restore the rapids to the Grand River in downtown Grand Rapids. The plan, which is based on two years of scientific and engineering studies that evaluated the river bottom, sediment, wildlife and other factors to understand the river, illustrates opportunities for river recreation and rapids restoration through the city of Grand Rapids, creating unique centerpiece for the city.
Registration Information:
The cost of this event is $40.00 for ULI Members and $65.00 for prospective members.
Advance registration closes Tuesday, June 3, 2014. On-site registration will be available the day of the event. VISIT: http://michigan.uli.org/event/river-runs/
to register.
TMA Chapter Event – May 22
Business Transitions:
A Discussion with
James Hackett,
Former CEO of Steelcase, Inc.
(Seating is limited)
Agenda:
4:30 p.m. Networking/Registration
5:30 p.m. Presentation
Venue:
Gerald R. Ford
Presidential Museum
303 Pearl St. NW, Grand Rapids
Discussion Moderated By:
Doug Wilterdink, Managing Partner for DWH.
Register online at:https://www.turnaround.org/Events/RegisterAA.aspx?objectId=3210
or
E-mail Chapter Administrator, Lisa Studnicky at: alea-va@comcast.net
Realtors® Report Positive Outlook in Commercial Market with Increases in Sales Volume, Income
WASHINGTON (May 6, 2014) – Realtors® who practice commercial real estate reported an increase in sales transaction volume and medium gross annual income last year, according to the 2014 National Association of Realtors® Commercial Member Profile.
NAR commercial members who were surveyed conduct all or part of their activity in commercial sales, leasing, brokerage and development for land, office and industrial space, multifamily, and retail buildings, as well as property management. The survey shows that even with challenges in the market, commercial members saw a rise in median sales transaction volume to $2,554,700, up nearly $50,000 from 2012.
“Despite a government shutdown, regulatory changes and a budget sequestration, ongoing job creation has helped the commercial market make continued progress,” said NAR President Steve Brown, co-owner of Irongate Inc. Realtors® in Dayton, Ohio. “Realtors® who practice commercial real estate help build our nation’s communities by helping their clients make informed business decisions and reliable commercial investments that support economic growth. A stronger commercial market is a good indicator of a recovering and growing economy.”
Commercial members completed a median of eight transactions in 2013, equal to the previous year. Nine percent of commercial members reported not having a transaction in 2013, also the same as 2012. Brokers typically had a greater sales transaction volume than sales agents.
Seventy-six percent of commercial members reported having a leasing transaction; their median transaction leasing volume in 2013 was $431,600. Twenty-nine percent of members cited investment sales as their primary business specialty, making it the most popular area of concentration. Land sales and office leasing were reported as the second and third most popular primary commercial specialties.
Realtors® reported an increase in annual gross income for the fourth year in a row. The study found median annual gross income for 2013 was $96,200, an increase from $90,200 in 2012; that is the highest reported level since 2008.
Commercial members who manage properties typically managed 60,000 total square feet, representing twenty total spaces. Those who manage offices typically managed 25,000 total office square feet, representing eight total offices.
Twenty-eight percent of commercial members were involved in international transactions in 2013. Sixteen percent of commercial members reported an increase in international transactions, while only 1 percent had a decrease. Nearly one-fourth of commercial members reported international business is important to their company.
The typical commercial NAR member has been in real estate for 25 years, in commercial real estate for 15 years and a member of NAR for 18 years. Eighty percent of members reported working at least 40 hours a week, with about half stating that they spend 75 to 100 percent of their time on commercial real estate activity.
Commercial members are predominately male with a median age of 59. However, women are slowly becoming a stronger presence in the industry; 35 percent of those with two or fewer years’ experience are female, up from 33 percent last year, and sales agents have the largest representation of female practitioners with 29 percent.
The 2014 NAR Commercial Member Profile was based on a survey of 2,213 members. Income and transaction data are for 2013, while other data represent member characteristics in 2014. Approximately 70,000 commercial real estate professionals are members of NAR, making it the largest commercial organization in the industry.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.
