Friday, November 18, 2011
Tuesday, November 15, 2011
NAI Rio Grande Valley Market Report 2011
By: Rey Anzaldua
NAI Rio Grande Valley Realtor
As global companies look to expand or relocate within the United States many of their operations require a young labor force, easy access to international sea, air and cargo ports of entry, low cost of living, and access to development opportunities. Hundreds of companies have taken a hard look at the Rio Grande Valley in south Texas. Two nations, one region, many choices is the marketing slogan for Rio South Texas, which promotes all of the communities on both sides of the Rio Grande Valley Border with the principal cities of Brownsville, Harlingen and McAllen, Texas and Matamoros, Rio Bravo, and Reynosa, Mexico.
Commercial real estate has stabilized in the Rio Grande Valley after a series of down years. This makes the market one of the best in the nation and according to Forbes Magazine, the McAllen MSA ranked 4th for best Mid Sized MSA for jobs while Bloomberg/Businessweek ranked the MSA 4th in cost of living nationally. The Metropolitan Policy Program (MPP) at the Brookings Institution regularly lists the 20 strongest major metro areas in the U.S. It looks at fundamental economic issues: economic activity, housing, and employment. The McAllen MSA was ranked in the top 20 of the Strongest Metro Areas by the MPP.
The local colleges and universities (University of Texas Brownsville and Pan American, South Texas College, Texas Southmost and Texas State Technical College), continue their growth not only in students but in construction of new buildings and acquisitions of land to accommodate the enrollment growth and movement into research and development.
Dallas Federal Reserve recent data shows a slight increase in retail sales of 6%. With several big box retail stores set to open late 2011 and early 2012 the stage is set for a continued increase in retail sales. Bass Pro Shops will complete construction before the end of 2011 in Harlingen while in the McAllen MSA a Costco in Pharr will be completed in the spring of 2012.
Healthcare and government agencies continue to dominate the office market. Retail sales in 2010 in Hidalgo and Cameron counties reached $14.5 Billion dollars confirming that the Rio Grande Valley remains a very healthy retail market.
NAI Rio Grande Valley is a focused commercial real estate brokerage, consulting, development and syndication firm serving the Rio Grande Valley and based in McAllen, Texas. Our mission is to transform real estate opportunities into profits for owners, users and investors.
NAI Rio Grande Valley advises it's customers and clients on how to maximize the value of their assets and utilize real estate to their long term advantage through comprehensive and strategic planning, execution and management.
NAI Rio Grande Valley advises it's customers and clients on how to maximize the value of their assets and utilize real estate to their long term advantage through comprehensive and strategic planning, execution and management.
Monday, November 14, 2011
Texas is only exception to gloomy retail picture
New Mexico Business Weekly
Date: Friday, November 11, 2011, 8:41am MST - Last Modified: Friday, November 11, 2011, 12:13pm MST
Retail activity is fairly brisk in Houston and Austin -- and sluggish virtually everywhere else.
The two Texas markets are the only U.S. metropolitan areas that have added more than 1,000 jobs to their retail sectors since the beginning of the recession in 2007.
Two other Texas metros have managed to hold their own during that span. McAllen-Edinburg has picked up 300 retail jobs in four years, and El Paso has stayed flat.
The other 96 markets in the national top 100 have suffered declines in retail-trade employment during the past four years...
Click here to read more
Friday, November 11, 2011
WAL-MART OPENING POP-UPS
BY ELAINE MISONZHNIK NOVEMBER 8TH, 2011
TrafficCourt
The world’s biggest retailer seems to be putting out all the stops lately to adapt to a new retail environment. Earlier this year, Wal-Mart launched its small-format Express stores, meant to allow the chain to enter urban markets with high barriers to entry and compete with supermarkets and drug stores on their own turf. Now, Retail & Consumer reports the retailer has opened two pop-up stores, measuring 1,000 sq. ft. and 3,000 sq. ft. at the Topanga Mall in West Los Angeles and at Horton Plaza in San Diego.
Wal-Mart has been quietly working on this initiative for some time, according to The New York Post. In part, this is an attempt to compete with Toys ‘R’ Us’ pop-up Express stores during the holiday shopping season since Wal-Mart’s pop-up units will concentrate on toys and electronics and will operate through December 31.
At the same time, ...
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Thursday, November 10, 2011
Retail Demand Continues Steady Recovery, Some Pockets of Pain Persist - CoStar Group
Restaurant Growth Reported To Be Especially Strong, Power Centers Attracting Interest from Retailers, but Some in Market Question How Much Activity is Driven by Discounting
November 9, 2011
CoStar Group
With the holiday shopping season getting under way in earnest this month, recession-weary American consumers are setting aside their worries about stagnant U.S. employment, a soft housing picture and the debt crisis in Europe to go shopping. That's providing fuel for the slow-but-steady improvement in retail property fundamentals that has emerged in recent quarters. Consumers rode out a slow-but-not-stalled economic expansion during the spring, and annualized GDP growth edged up in the third quarter, with lower interest rates beginning to have their intended effect -- encouraging purchases of durable goods like autos and stronger spending by consumers on home improvements, food and beverage and electronics, furniture and appliances, according to data presented at CoStar Group’s Third-Quarter 2011 Retail Review and Outlook.
"Retail spending started out with ‘needs’-based items like health care and general merchandise at Target and Wal-Mart, and it's now widened to include more of the ‘wants’ by consumers," said Senior Real Estate Strategist Suzanne Mulvee, who co-presented the quarterly review with Real Estate Economist Ryan McCullough.
Even as shopping centers and malls logged their ...
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Thursday, November 3, 2011
Wednesday, November 2, 2011
FASB Lease Accounting Update: Will Lessors/Landlords be excluded?
Posted on Tue, Nov 01, 2011
After taking significant public comment on its exposure draft published in August 2010, FASB agreed to reconsider its proposed guidance. The primary aspect of the draft changes redefined all operating leases as right-of-use assets (capital leases), thereby moving accounting from the operating statement to the balance sheet. The volume and nature of comments has pushed final guidance back to 2012.
Much has been written about the significant joint undertaking by FASB and IFRS to update lease accounting rules in the name of improved transparency. With real estate leases comprising a high percentage of all operating leases, the potential impact for the commercial real estate industry looms large, for landlords, tenants, brokers and property managers alike.
After taking significant public comment on its exposure draft published in August 2010, FASB agreed to reconsider its proposed guidance. The primary aspect of the draft changes redefined all operating leases as right-of-use assets (capital leases), thereby moving accounting from the operating statement to the balance sheet. The volume and nature of comments has pushed final guidance back to 2012.
However, in a recent Project Update published on FASB's website, FASB indicated that the two bodies have "tentatively decided that a lessor’s lease of investment property would not be within the scope of the receivable and residual approach. Instead, for such leases the lessor should continue to recognize the underlying asset and recognize lease income over the lease term."
The International Council of Shopping Centers (ICSC) is one of several industry organizations advocating for the commercial real estate industry's interests with regard to proposed lease accounting changes. ICSC summarized the decision made at FASB/IFRS' last meeting in thisOctober 27, 2011 news report:
Click here to read more
Tuesday, November 1, 2011
Commercial Real Estate News - October 2011
Click here to view the October Commercial Real Estate News from NAI Rio Grande Valley.
Friday, October 28, 2011
Thursday, October 27, 2011
NAI Global Expands Caribbean Presence with Bahamas Realty Limited
NAI Global, the world’s premier managed network of commercial real estate firms and one of the largest real estate services providers worldwide, announced today it has expanded its Caribbean presence into the Bahamas. The Commercial Department of Bahamas Realty Limited will now operate as NAI Bahamas.
NAI Bahamas, formerly Bahamas Realty Commercial, is one of the largest and most respected real estate companies in the Bahamas, spanning 62 years and three generations of active involvement in the Bahamian real estate industry. The firm offers a broad array of commercial real estate services including investment sales, leasing, tenant representation, property management, appraisal/valuation, research, hospitality and consulting. In addition, the firm specializes in dealing with international buyers and offshore companies who wish to take advantage of the Bahamas’ attractive tax-free status.
“Our new partnership with NAI Global will significantly enhance our ability to reach out to international clients seeking to capitalize on Bahamas’ tax-free status,” said NAI Bahamas Chief Executive Officer, W. Larry Roberts, CIPS. “In addition, our clients will also benefit from our ability to provide services for our clients seeking opportunities in international markets, including the United States.”
“The Bahamas is a key Caribbean market, especially for our corporate and investor clients seeking advice on offshoring and the Islands’ attractive tax policies,” said NAI Global Managing Director, Latin American & Caribbean, David Berger. “With Larry and his team at NAI Bahamas, we now have some of the best Bahamian real estate experts to serve our clients. I am excited about our new partnership and look forward to working together in the coming months and years.”
NAI Bahamas (www.naibahamas.com) is headquartered in Nassau, with an additional two offices and agent representation throughout the islands of the Bahamas. Headquartered in Princeton, NJ, NAI Global manages a network of 350 offices and 5,000 professionals in 55 countries across the globe.
NAI Rio Grande Valley advises it's customers and clients on how to maximize the value of their assets and utilize real estate to their long term advantage through comprehensive and strategic planning, execution and management.
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