Monday, October 16, 2017
Transfer taxes, estate planning, and more - make sure you have trusted legal advice!
Reuben, Junius and Rose's attorney, Corie Edwards, penned the article here which explains how California jurisdictions may focus on recovering taxes on properties based on changes of controlling interests which can have dire circumstances for property owners and heirs of property if not handled properly.
Friday, October 6, 2017
Thursday, January 26, 2017
Toxic Air: No Laughing Matter
I relocated two office tenants so far in my career due to unsafe environmental conditions in the workplace.
See below for information on what commercial tenants are looking for:
https://www.bisnow.com/national/news/office/the-healthy-building-movement-a-1t-industry-built-mainly-on-good-intentions-70237?be=mgedymin%40tricommercial.com&utm_source=Newsletter&utm_medium=email&utm_campaign=wed-25-jan-2017-000000-0600_san-francisco-re
See below for information on what commercial tenants are looking for:
https://www.bisnow.com/national/news/office/the-healthy-building-movement-a-1t-industry-built-mainly-on-good-intentions-70237?be=mgedymin%40tricommercial.com&utm_source=Newsletter&utm_medium=email&utm_campaign=wed-25-jan-2017-000000-0600_san-francisco-re
Wednesday, January 25, 2017
Morningstar: $45 billion of the $90 billion commercial debt wall expiring in 2017 will be hard to refinance
Ten years ago lending standard were weak and now it's time to face the music.
Bloomberg: "S&P analysts are predicting that about 13 percent of real estate loans coming due will ultimately default, up from 8 percent over the past two years, according to Dennis Sim, a researcher at the firm. That’s their base case, but the default rate could be higher, he said."
You can read more here.
Bloomberg: "S&P analysts are predicting that about 13 percent of real estate loans coming due will ultimately default, up from 8 percent over the past two years, according to Dennis Sim, a researcher at the firm. That’s their base case, but the default rate could be higher, he said."
You can read more here.
Wednesday, January 18, 2017
Ken Rosen: Trump Rhetoric A Red Flag For Bay Area Economy (Immigration, Tariffs, Etc.)
It's too soon to tell how things may unfold but based on the rhetoric, Trump's plans will affect Bay Area immigrants (everything from the illegal laborers to foreign high tech workers with visas), tariffs (China may get whacked with a 45% tariff), etc.
More from The Registry here.
More from The Registry here.
Trump considering repealing the 1031 Exchange
Many in real estate are wondering what will happen if the 1031 Exchange is repealed.
Can some of you weigh in on this? What is the likelihood?
More info at http://www.savethe1031.org/about-tax-fairness/
Can some of you weigh in on this? What is the likelihood?
More info at http://www.savethe1031.org/about-tax-fairness/
Airbnb delivers $133 million more in worldwide tax revenue for municipalities, could have been higher
The SF Business Times is reporting here that Airbnb did a pretty nice job adding revenue to the world's local municipalities' coffers.
I will be curious to see what happens in the coming years - not bad!
I will be curious to see what happens in the coming years - not bad!
"EAST BAY INDUSTRIAL REACHES LOWEST VACANCY RATES IN 10 YEARS"
Bisnow is reporting that things are getting very tight in the East Bay.
I completed two transactions in Hayward over the last few months and found this to be quite true.
You can read more here.
I completed two transactions in Hayward over the last few months and found this to be quite true.
You can read more here.
Friday, January 13, 2017
New Listing: Glen Park Office / Retail Space For Lease
Please ping me with any questions. Thank you!
Link: http://www.tricommercial.com/main/properties?propertyId=193028-lease
Link: http://www.tricommercial.com/main/properties?propertyId=193028-lease
Deal to Announce: Congrats to Varsity Technologies On Your Relocation At 1390 Market!
It was a pleasure completing my 5th transaction on behalf of one of my most favorite clients. Congrats!
Deal to Announce: Welcome National Kidney Foundation to 717 Market!
I was fortunate to partner with a Manhattan-based broker to exclusively represent National Kidney Foundation with their office relocation in San Francisco.
Congrats!
Congrats!
Deal to Announce: Welcome automotiveMastermind To 201 Mission Street!
My client subleased a full floor at 201 Mission to New York based automotiveMastermind. They are in a hyper growth mode.
Please ping me for insights and deal information.
Congrats!
Please ping me for insights and deal information.
Congrats!
40% of PG&E's Total Workforce Is Eligible, Today, For Retirement
The SF Business Times has a great article on the impending crush of retirees which will be exiting the labor market in the upcoming years.
I represent tech and non-tech clients and am beginning to worry that the workforce will forever be changed as it becomes very difficult to replace these workers.
Let's face it, today's youth are lured to the perks and financial gain of working in tech. Who doesn't like catered lunches, beer on tap at the office, ski trips, and stock options? Even if the company flames out, you still had a blast and got to work with a youthful and in many cases, attractive group of people!
In CRE, we are seeing very few college grads entering the business. Part of me is glad for in the next decade or two, there will be less competition for assignments and requirements. However, many CRE firms will face extinction as they cannot maintain a stable of agents and support staff.
I represent tech and non-tech clients and am beginning to worry that the workforce will forever be changed as it becomes very difficult to replace these workers.
Let's face it, today's youth are lured to the perks and financial gain of working in tech. Who doesn't like catered lunches, beer on tap at the office, ski trips, and stock options? Even if the company flames out, you still had a blast and got to work with a youthful and in many cases, attractive group of people!
In CRE, we are seeing very few college grads entering the business. Part of me is glad for in the next decade or two, there will be less competition for assignments and requirements. However, many CRE firms will face extinction as they cannot maintain a stable of agents and support staff.
Sunday, January 8, 2017
Struggling first time home buyers turn to fraud to buy property
Some first time home buyers with little credit history seem to be buying property as an investment rather than as a primary residence which constitutes fraud.
Can we blame them? If they simply want a piece of the American Dream then arguably no.
The article here shows the new trend. This will affect the statistics of homeownership (which I blogged about recently) too.
Very interesting!
Can we blame them? If they simply want a piece of the American Dream then arguably no.
The article here shows the new trend. This will affect the statistics of homeownership (which I blogged about recently) too.
Very interesting!
UBS goes open plan, and beyond
The open plan concept is not new but seeing UBS adopt this is cutting edge. They take the concept a couple steps beyond via "thin desks," dedicated computers, and dedicated phones.
As a member of the open plan corporate culture, this is great for UBS' collaboration and I welcome them.
But let's face it, there are other things the article does not mention. My open plan commercial real estate clients have told me that one major reason they prefer open plans is that they can see what each and every employee is working on. The impulse to spend hours surfing the net is reduced when a manager is within eye-shot of your monitor.
Another item the article fails to mention is the need for privacy, phone rooms, nursing rooms, and nap rooms. My clients have spent thousands of dollars utilizing these in their office layouts which employees clamor for.
A carefully designed office needs enclosed rooms if sensitive information needs to be discussed along with open, collaborative space.
My biggest issue with the open plan is the difficulty to concentrate and focus on the task at hand. The disruption of conversations is a daily challenge. I was just offered a private office but turned it down as much of my time is spent out of the office and I felt the next person in line would use it more than me. I still want a private office but maybe if TRI moves to a more office-intensive space once our lease it up. Right now the solution to my challenges is NOISE CANCELING HEADPHONES!
As a member of the open plan corporate culture, this is great for UBS' collaboration and I welcome them.
But let's face it, there are other things the article does not mention. My open plan commercial real estate clients have told me that one major reason they prefer open plans is that they can see what each and every employee is working on. The impulse to spend hours surfing the net is reduced when a manager is within eye-shot of your monitor.
Another item the article fails to mention is the need for privacy, phone rooms, nursing rooms, and nap rooms. My clients have spent thousands of dollars utilizing these in their office layouts which employees clamor for.
A carefully designed office needs enclosed rooms if sensitive information needs to be discussed along with open, collaborative space.
My biggest issue with the open plan is the difficulty to concentrate and focus on the task at hand. The disruption of conversations is a daily challenge. I was just offered a private office but turned it down as much of my time is spent out of the office and I felt the next person in line would use it more than me. I still want a private office but maybe if TRI moves to a more office-intensive space once our lease it up. Right now the solution to my challenges is NOISE CANCELING HEADPHONES!
UPS tests electric bikes in Portland
I am glad to read that UPS is now testing electric bikes as part of their delivery fleet which you can read more about here.
The article shows how forward-thinking UPS is but forgets to mention one thing - cost savings via fewer parking tickets!
As a worker in Downtown San Francisco, I see stacks of tickets under wiper blades of all sorts of vehicles illegally parked which must cost UPS and others a ton of money.
The article also fails to explain how UPS will stock and re-stock the bikes as most delivery companies do not have warehouses in the downtown cores of San Francisco or other major cities?
I await their deployment in San Francisco!
The article shows how forward-thinking UPS is but forgets to mention one thing - cost savings via fewer parking tickets!
As a worker in Downtown San Francisco, I see stacks of tickets under wiper blades of all sorts of vehicles illegally parked which must cost UPS and others a ton of money.
The article also fails to explain how UPS will stock and re-stock the bikes as most delivery companies do not have warehouses in the downtown cores of San Francisco or other major cities?
I await their deployment in San Francisco!
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