Is the Shopping Mall a Dead Concept?
NAI Global Blog Post
May 18, 2010
At the start of the recession, regional malls were in a difficult position. Battling competition from online retailers and as people turned to lower-cost bulk items to save money, shopping malls lost a lot of foot traffic and were in danger of becoming extinct. New shopping mall developments were put on hold, and even mega-malls, like New Jersey’s Xanadu, had their plans scaled back significantly in an attempt to match consumer sentiment.
As the recession dragged on, big box retailers started to go out of business, followed by a number of their smaller retail cousins. Mall anchor stores like Macy’s, Nordstroms and JC Penney began to reevaluate their retail footprints and cut underperforming stores, and in some cases halt altogether their chain’s expansion. As the anchor stores closed, many of the smaller retailers that rely on that foot traffic to survive soon followed. Not to mention, chain stores like DVD retailers and toy retailers began to close as people turned to cheaper options like Target and Walmart for their DVD and toy purchases, further changing the shopping mall landscape. And in short order, a number of communities were faced with desolate shopping centers, driving up unemployment in the local area and creating an eyesore.
But is the shopping mall truly dead? Now that the recession is coming to a close and retailers are starting to see their sales numbers rebound, albeit at a very slow pace, does it hold that consumers will again flock to major shopping malls to spend their hard-earned cash? The short answer is yes and no.
Shopping malls need to ... Click here to read more
Wednesday, May 26, 2010
Thursday, May 20, 2010
It's 5 O’clock Somewhere!
Take a break and view NAI RGV's latest newsletter! Download free copies of the latest NAI publications, view the cities surviving the recession, read opinions from Texas brokers on the current market and much more!
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It's Me or the Office!
Does your home office look like this?? If so, maybe it's time to consider leasing office space.
At NAI Rio Grande Valley, we have office space from executive suites to build to suit in many areas of the Rio Grande Valley. Contact us at 956-994-8900 or visit us on the web at www.nairgv.com to find a space that fits your needs.
McAllen Chamber of Commerce Sponsoring the 2010 McAllen Business Expo Today!
The McAllen Chamber of Commerce is sponsoring the 2010 McAllen Business Expo today at the McAllen Convention Center at the intersection of Expressway 83 and Ware Road.
This is a great opportunity to network, network, network…generate new leads, meet local business people and hear about the latest trends that could impact your business.
For more about this event, click here
This is a great opportunity to network, network, network…generate new leads, meet local business people and hear about the latest trends that could impact your business.
For more about this event, click here
Wednesday, May 19, 2010
A RETAIL PERSPECTIVE - Brokers throughout Texas talk shop about the current market
A RETAIL PERSPECTIVE
Brokers throughout Texas talk shop about the current market.
Texas Real Estate Business
By Jon Ross
It seems like it’s been forever since there was solidly good commercial real estate news anywhere in the country. The recession has taken a toll on retailers everywhere, and tenants have been put off by the uncertainty of the economic environment. In Texas, however, a few rays of sunshine are coming through, and brokers in key markets around the state have been encouraged by the level of activity they’re seeing.
“The retail real estate market in Texas is the strongest in the nation. The shopping centers in Texas and the malls in Texas in particular were the least affected during the economic downturn,” says John Bemis of Jones Lang LaSalle. “Our 11 malls throughout Texas have continued to ... Click here to read more
Brokers throughout Texas talk shop about the current market.
Texas Real Estate Business
By Jon Ross
It seems like it’s been forever since there was solidly good commercial real estate news anywhere in the country. The recession has taken a toll on retailers everywhere, and tenants have been put off by the uncertainty of the economic environment. In Texas, however, a few rays of sunshine are coming through, and brokers in key markets around the state have been encouraged by the level of activity they’re seeing.
“The retail real estate market in Texas is the strongest in the nation. The shopping centers in Texas and the malls in Texas in particular were the least affected during the economic downturn,” says John Bemis of Jones Lang LaSalle. “Our 11 malls throughout Texas have continued to ... Click here to read more
MAXIMIZING RETURN ON LAND INVESTMENT
MAXIMIZING RETURN ON LAND INVESTMENT
Texas Real Estate Business
By Stephen Schattner
When considering a land investment, the investor is faced with imperfect information. Interested parties must compare the attributes of a targeted property to all other land investment opportunities in the area and be able to quantify and relate this data to measurements such as price and size.
The evaluation of these attributes on a comparative basis impacts the prediction of current price. A proportion of variability in the data will measure how likely future outcomes are by not only the quality and quantity of the data, but also by what data is selected in the evaluation of the pricing model. This gives the investor a true gauge of market value. This is accomplished by evaluating thousands of properties and then conducting non-linear regression analysis to determine the validity of the data.
Once the data is deemed valid, an investor can project forward the demographic growth models of an area. This helps determine the development cycle. It also forecasts the inflation-adjusted price for improvement and disposition value for a multitude of land investment opportunities. The outcome will yield the best land investment opportunity that maximizes the ... Click here to read more
Texas Real Estate Business
By Stephen Schattner
When considering a land investment, the investor is faced with imperfect information. Interested parties must compare the attributes of a targeted property to all other land investment opportunities in the area and be able to quantify and relate this data to measurements such as price and size.
The evaluation of these attributes on a comparative basis impacts the prediction of current price. A proportion of variability in the data will measure how likely future outcomes are by not only the quality and quantity of the data, but also by what data is selected in the evaluation of the pricing model. This gives the investor a true gauge of market value. This is accomplished by evaluating thousands of properties and then conducting non-linear regression analysis to determine the validity of the data.
Once the data is deemed valid, an investor can project forward the demographic growth models of an area. This helps determine the development cycle. It also forecasts the inflation-adjusted price for improvement and disposition value for a multitude of land investment opportunities. The outcome will yield the best land investment opportunity that maximizes the ... Click here to read more
Tuesday, May 18, 2010
HARLINGEN , TX COST OF LIVING 6TH LOWEST IN US
HARLINGEN , TX COST OF LIVING 6TH LOWEST IN US
Tuesday, May 18th, 2010
Texas Border Business
The cost of living in Harlingen , Texas is the sixth lowest in the United States , according to the ACCRA Cost of Living Index released by the Council for Community and Economic Research.
The Cost of Living Index (COLI) captures data collected in 308 urban areas for the first quarter of 2010. The composite index for Harlingen was 86.1 (with 100 being the national average), meaning the cost of living in Harlingen is 13.9 percent below the national average.
The composite index is made up of six components. The components (and the index for Harlingen ) were: ... Click here to read more
Tuesday, May 18th, 2010
Texas Border Business
The cost of living in Harlingen , Texas is the sixth lowest in the United States , according to the ACCRA Cost of Living Index released by the Council for Community and Economic Research.
The Cost of Living Index (COLI) captures data collected in 308 urban areas for the first quarter of 2010. The composite index for Harlingen was 86.1 (with 100 being the national average), meaning the cost of living in Harlingen is 13.9 percent below the national average.
The composite index is made up of six components. The components (and the index for Harlingen ) were: ... Click here to read more
Manufacturing plant to open shop in Harlingen
Manufacturing plant to open shop in Harlingen
Tuesday, May 18th, 2010
Texas Border Business
Harlingen, Texas, May 12, 2010 -- HHS Rotec, LLC has announced plans to establish a manufacturing operation that could employ up to 200 people in Harlingen, Texas.
The company has leased an 80,000 square foot building in the Harlingen Industrial Park and is moving equipment valued at $2 million to begin production. The company will have 10 employees at the start of production, but has the potential to grow to 200 employees.
HHS Rotec, LLC was formed by HHS Development, LLC and Rotec Engineering USA, Inc. to manufacture panels made of polyurethane and galvanized steel for the housing market. The company has the rights to manufacture construction systems of Platinum Advanced Technologies, Inc. for energy efficient, wind storm tolerant and pest resistant housing.
HHS Rotec has expressions of intent for ...Click here to read more
Tuesday, May 18th, 2010
Texas Border Business
Harlingen, Texas, May 12, 2010 -- HHS Rotec, LLC has announced plans to establish a manufacturing operation that could employ up to 200 people in Harlingen, Texas.
The company has leased an 80,000 square foot building in the Harlingen Industrial Park and is moving equipment valued at $2 million to begin production. The company will have 10 employees at the start of production, but has the potential to grow to 200 employees.
HHS Rotec, LLC was formed by HHS Development, LLC and Rotec Engineering USA, Inc. to manufacture panels made of polyurethane and galvanized steel for the housing market. The company has the rights to manufacture construction systems of Platinum Advanced Technologies, Inc. for energy efficient, wind storm tolerant and pest resistant housing.
HHS Rotec has expressions of intent for ...Click here to read more
Wednesday, May 12, 2010
McAllen Listed in the 20 Cities Surviving the Recession
May 12, 2010 by High Def
Filed under Featured, News/Editorial
McAllen, Texas
This area includes Mission and Edinburg. Like the rest of the metro areas in Texas, McAllen is showing promise for the future. Employment growth has happened even during the recession, and there is demand for technology and business professionals. Service industries are also doing reasonably well in McAllen.
Click here to read full article
What Kind of Auction is Right for Your Commercial Property?
A common question posed by property owners is whether an auction or sealed bid is appropriate for the property(or properties) they wish to sell. While both sales are actually “auctions” they are differentiated by the availability of bidding activity on the date of the sale.
When people think about auctions they envision participants openly bidding against one another, with each subsequent bid higher than the previous bid. An auctioneer may announce prices, bidders may call out their bids themselves (or have a proxy call out a bid on their behalf), or bids may be submitted electronically with the highest current bid publicly displayed. In some cases a maximum bid might be left with the auctioneer, who may bid on behalf of the bidder according to the bidder's instructions. The auction ends when no participant is willing to bid further, at which point the highest bidder is the winner. Alternatively, if the seller has set a minimum sale price in advance (the “reserve” price) and the final bid does not reach that price the property remains unsold. Sometimes the auctioneer sets a minimum amount by which the next bid must exceed the current highest bid. The most significant distinguishing factor ...
Click here to read more
When people think about auctions they envision participants openly bidding against one another, with each subsequent bid higher than the previous bid. An auctioneer may announce prices, bidders may call out their bids themselves (or have a proxy call out a bid on their behalf), or bids may be submitted electronically with the highest current bid publicly displayed. In some cases a maximum bid might be left with the auctioneer, who may bid on behalf of the bidder according to the bidder's instructions. The auction ends when no participant is willing to bid further, at which point the highest bidder is the winner. Alternatively, if the seller has set a minimum sale price in advance (the “reserve” price) and the final bid does not reach that price the property remains unsold. Sometimes the auctioneer sets a minimum amount by which the next bid must exceed the current highest bid. The most significant distinguishing factor ...
Click here to read more
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