McAllen Listed in the 20 Cities Surviving the Recession

20 Cities Surviving the Recession

May 12, 2010 by High Def

Filed under Featured, News/Editorial

This recession has affected us all; especially those in my hometown of Detroit, Michigan. People are beginning to leave the state in search of better living and job opportunities. In light of this, I felt as though this editorial was very beneficial to those of our audience looking for a fresh start. Seeing some cities thriving speaks to the rebirth of our economy and the resiliency of the American spirit and our enterprises. Check out the top 20 places to ride out this recession below.


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

NAI Global Forms Joint Venture with Chesterfield Faring Ltd. To Assist Clients with Restructurings

NAI Global, the world’s premier managed network of commercial real estate firms and one of the largest real estate services providers worldwide, and Chesterfield Faring Ltd., a leading real estate restructuring group, today announced a joint venture to assist clients in need of financial restructurings.

NAI Chesterfield Capital Advisors LLC, provides financial restructuring advisory services critical to REO and distressed property sales for any bank owner, investor or corporate space user. Working with NAI members across North America, the new joint venture will quickly expand its offerings through NAI’s global network to provide services to both lenders and borrowers worldwide. Already active in the loan sale, REO disposition, receivership and asset management sectors, the addition of this expanded loan restructuring capability enhances the scope of NAI Global’s Special Asset Solutions Group.

“As the economic crisis that gripped the world for the past two years winds down, NAI is actively working with distressed real estate assets, representing both lenders and borrowers seeking to restructure their debt,” said Jeffrey M. Finn, President & CEO of NAI Global. “In partnership with NAI Chesterfield, we’ll be able to further enhance our Special Asset Solutions service offering for both sides of the sector as the market continues to strengthen.”

“The value for Chesterfield is the ability to ... Click here to read more

2 New 2010 Publications: International Property Guide & Global Property Prices and Trends

NAI Rio Grande Valley is pleased to present two new publications, the 2010 International Property Guide and the 2010 Global Property Prices & Trends.

Here at NAI Rio Grande Valley we have the knowledge and expertise to assist you wherever your needs may be.

Both publications are now available for download please click here to download your copy today!

The 2010 International Property Guide provides insight into key local business customs and practices for 60 countries around the world. The 2010 Global Property Prices & Trends report highlights key demographic data along with current rental rates and investment yields for 130 global markets.

NAI RGV's May 3, 2010 Spotlight

View the NAI Rio Grande Valley's Spotlight to stay current on any and everything relating to commercial real estate in the Rio Grande Valley.

Click here to view the May 3 NAI Rio Grande Vally Spotlight

NAI RGV Launches New Web Site!

Hats off to the new NAI Rio Grande Valley Web Site! Check out NAI RGV's new look at http://www.nairgv.com/

NAI Rio Grande Valley is a focused commercial real estate brokerage, consulting, development, property management 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 professionals arrange the sale or lease of land, office, industrial and commercial real estate. We have a proven track record and have considerable expertise in envisioning how to convert raw land into revenues.

NAI Rio Grande Valley is also a service bureau for data gathering, research assistance, interpretation, and expert analysis on a variety of regional, economic and demographic issues. It seeks to provide an array of other services including market research, feasibility studies, project management, and real estate entitlements.

Because of our proximity to the Mexico border, close ties to the business community in Mexico and a proven understanding of the unique economics of the U.S. - Mexico border area, NAI Rio Grande Valley is able to provide services to both international and domestic clientele.

BASS PRO SHOPS TO OPEN SUPERSTORE IN HARLINGEN, TEXAS

News Release

BASS PRO SHOPS ANNOUNCES PLANS TO OPEN A DESTINATION OUTDOOR SUPERSTORE IN HARLINGEN, TEXAS

Harlingen, TX—April 30, 2010--Bass Pro Shops, America’s most popular outdoor store, continues its retail growth with the announcement they will open their 57th destination outdoor superstore in Harlingen, Texas. The store will be from 130,000 to 150,000 square feet and will be the signature anchor for the Cameron Crossing retail development to be located at intersection of U.S. Expressways 83 and 77. The store is tentatively scheduled to open late second quarter or early third quarter 2011.

“There is no other retailer in America like Bass Pro Shops,” stated Harlingen Mayor Chris Boswell. “Their one-of-a-kind destination retail stores attract an average of 3 million people a year to each store. Typically, when Bass Pro Shops comes to a city they attract more businesses which create more jobs, more taxes and a better community. We are thrilled they chose to be a part of our great city.”

The decision by Bass Pro Shops was the result of over two years of efforts by the Harlingen City Commission, the Harlingen Economic Development Corporation and the developers of Cameron Crossing. “Harlingen is the perfect location from which to serve South Texas and northern Mexico,” according to Armando Elizarde, president of the Harlingen EDC. “Cameron Crossing, with Bass Pro Shops as the anchor, will transform Harlingen,” Elizarde concluded.

Bass Pro Shops stores are a combination of museum, art gallery, aquarium, outdoor education, conservation and entertainment. Each store is uniquely themed to the region in which they are located so that no two stores are alike.

“We are excited about locating one of our Outdoor World destination stores in the Rio Grande Valley to better serve our many customers in the region,” said Bass Pro Shops founder Johnny Morris. “Harlingen is a terrific regional location for a store that will highlight the great heritage and outdoor traditions of the families and visitors to the area.”

The Harlingen store will offer outdoor enthusiasts 3 ½ football fields of shopping excitement with the area’s largest selection of equipment and clothing for hunting, fishing, hiking, backpacking, wildlife viewing, camping, outdoor cooking and more. A gift and nature center will also serve up a wide variety of outdoor-related items from lamps and dishes to bird feeders and furniture.

An expansive boat showroom will feature Tracker, Nitro, Mako and SunTracker boats built by Tracker Marine Group—the world’s largest manufacturer of fishing boats. A boat service center will also be available.

Unique exterior and interior motifs have branded Bass Pro Shops as visually appealing, high quality outdoor stores. The outdoors is brought indoors with massive log and rock work, large aquariums and water features stocked with native fish species, along with an extensive collection of museum quality fish and wildlife exhibits. Historic photos, artifacts, and memorabilia will pay tribute to the Rio Grande Valley’s great outdoors heritage.

Award-winning in their concept and design, Bass Pro Shops retail stores are rated as top tourist destinations. Well over 100 million people visit their stores annually. Widely recognized for their efforts in conservation and outdoor education, Bass Pro Shops stores also offer Outdoor Skills Workshops for adults, kids and families.

Bass Pro Shops, known for hiring associates that have a passion for the outdoors, is expected to employ approximately 300 people, many of whom will come from the local region. Employment information is available in the career opportunities section of www.basspro.com

About Bass Pro Shops Group:

Bass Pro Shops Group-56 retail stores in 26 states and Canada visited by over 100 million people annually, international catalog and internet retailing, American Rod & Gun wholesale division selling to over 7,000 independently owned retail stores worldwide, Outdoor World Incentives also selling Bass Pro Shops gift cards through over 132,000 retail outlets across America and a restaurant division with 26 locations.

For more information regarding Bass Pro Shops store locations, products or special events, please visit http://www.basspro.com/. To request a free catalog call 1-800-BASS PRO.

Tracker Marine Group – Manufactures and sells Tracker, Nitro, SunTracker, Tahoe, Grizzly, and Mako boats through Bass Pro Shops retail stores and over 400 dealers worldwide. For more information go to www.trackermarine.com.

Resort Group – Big Cedar Lodge and other resort properties including restaurants and golf course. For more information go to www.big-cedar.com, www.bigcedarwildernessclub.com, or www.dogwoodcanyon.com

Contact: Larry Whiteley (417) 873-5022 lwhiteley@basspro.com

Katie Mitchell (417) 873-5618 kamitchell@basspro.com

Jenna Kendall (417) 873-5059 jmkendall@basspro.com

Bill Martin (956) 245-1303 bmartin@harlingenedc.com

--end--

Ridge Property Trust Leases Over 200,000 Square Feet Of Space To Tenants At Facilities In The Mcallen/Reynosa Area

Ridge Property Trust Leases Over 200,000 Square Feet Of Space To Tenants At Facilities In The Mcallen/Reynosa Area
McAllen, Texas, Apr 27, 2010 (PRWeb.com via COMTEX) --

Ridge Property Trust, a private REIT specializing in industrial property development and management, today announced leasings totaling 218,812 square feet, including recently signed Andrew Corporation and Karlee Company at the company's properties at Sharyland Business Park in McAllen, TX.

This comes on the heels of significant leasing activity in 2009 of 78,500 square feet to ProTrans International and ProTrans Reynosa at Ridge facilities in McAllen, TX and Reynosa, MX.

The Sharyland Business Park, located near the Miller International Airport, serves companies as a logistics hub that allows efficient transportation to and from Mexico, as well as quick access to both Highway 281 and U.S. Route 83. The industrial development is also near the newly opened Anzalduas International Bridge which provides an essential link to and from Reynosa, MX, and further south to Monterrey, MX.

"Ridge Property Trust combines state-of-the-art amenities with ...

Click here to read more

6th Annual State of Real Estate Forum Draws Large Attendance

6th Annual State of Real Estate Forum Draws Large Attendance

Tuesday, April 20th, 2010

TexasBorderBusiness.com

Edwards Abstract and Title Co. has taken the lead in providing the latest economic data affecting the Valley’s economy. The 6th Annual State of Real Estate was held on Friday, January 22 where almost 230 real estate professionals were in attendance.

The Forum was headlined by national economist Dr. Ted C. Jones, PhD, Senior Vice President and Chief Economist for Stewart Title Guaranty Company. During his presentation, Dr. Jones informed the group that the McAllen-Mission-Edinburg MSA was one of only 15 out of 366 metropolitan statistical areas that had job growth from November 2008 to November 2009. The McAllen-Mission-Edinburg MSA ranked 6th best in the country out of 366 MSAs across the nation.

Dr. Jones also reported that the according to Campbell Surveys, a division of Campbell Communications, during the first seven months of 2009 an estimated 610,000 homes were sold due to the $8,000 First-Time Homebuyer Tax Credit.

Congressman Ruben Hinojosa was invited ...

Click here to read more

Mike Blum with NAI RGV Comments on the New 5 Story Hotel Being Built in McAllen

New 5 Story Hotel Being Built in McAllen

By Roberto Hugo Gonzalez

TexasBorderBusiness.com

A new 5 story hotel is being built by local businessmen; its location is possibly one of the most strategic locations in McAllen, easy to get in and easy to get out, close to everything that is important for any traveler. The new Hampton Inn & Suites hotel is being built on the corner of Col. Rowe (2nd Street) and Expressway 83, just a few steps east of the overpass.

The owners are Castle Hospitality locally owned by Larry Fallek, Michael Fallek, Bob Wallace, and Rick Guerra. They also own and operate the Courtyard by Marriott, Fairfield Inn & Suites, SpringHill Suites, Romano's Macaroni Grill, and Tony Roma's in McAllen. In Laredo, they own and operate Embassy Suites, Fairfield Inn and Tony Roma's.

Mike Blum, NAI-RGV managing partner was the one who put together this deal and worked on it for about a year before it became a reality. “These 3 acres of land are in the center of McAllen, along the Expressway, in the heart of the medical center and between the Pharr exit and the Mission exit plus they are surrounded by high-end development and retail shopping. This is one of the most prime real estate pieces left on the Expressway in McAllen,” Blum stated.

Bill Moschel and Jim Moffit were the previous owners and Blum did a Master plan for them back in 1993. They have owned the property for the last 20 years or more. “I think that the fact that this property is owned, developed, built, banked and sold by local people; when you look at the economic multipliers, the strength of the local economy is felt,” Blum stated. He added that this transaction resulted in multiple transactions and became huge so he does not know the number of multipliers in this single transaction.

Rick Guerra is the Vice President of Operations of Castle Hospitality and the management company that runs the hotels and is also ...

Click here to read more