Without a strong online presence to engage customers, is the traditional brick-and-mortar retailer set for extinction? While it may seem this way with the advent of online shopping, the landscape has evolved with online retailers opening physical stores, coined clicks-to-bricks. Studies show that the strongest retailers are omnichannel, they span physical, mobile and social platforms. Growth in rental values and drop in vacancies will continue to be concentrated in markets where employment is growing and where there is a focus on experiential retail and adaptive reuse. Read more…
Office: Signs Point towards Creative Office Trend Reaching Saturation
Creative office, including shared offices and co-working, are the hot trend now in major markets but there is concern about shared office saturation. Shared office giants such as WeWork and MakeOffices are solving solve short-term office requirements and leading a big-box, co-working mania by absorbing astounding footprints across the country. Due to shared offices being a relatively new product class and the uncertainty regarding their long-term viability, there is a possibility for the co-working model to shift to local companies controlling smaller footprints. Read more…
5 Alpine Resorts to Add to Your Bucket List
As winter weather starts to blow in, it stirs the desire to plan an escape to snow-capped mountains. If a luxurious winter getaway is in on your mind, be sure to check out five new and improved classy, alpine-themed resorts that offer high-end accommodations.
Hotel Barriere Les Neiges
Nestled in Courchevel, France and characterized by elegance, this contemporary hotel features 42 luxury rooms and suites with white marble, silky fabrics and in-room fireplaces. With the ease of direct access to the slopes, a spa, pool, private cinema room, and dining onsite, this luxurious hotel will run you $1,200/night.
Suvretta House
For the most modern, 5-star accommodation – and the only ski-in, ski-out option in St. Moritz, Switzerland – this hotel is surrounded by natural park landscape and provides its guests with access to its new Tesla house car. The 105-year-old hotel offers traditional rituals like “five o’clock tea” with a suggested dress code for gentlemen in the evenings. Boasting 181 rooms and suites (only half will be renovated this season) starting at $290/night.
The Blake
This 80-room hotel in Taos, New Mexico is part of a long-awaited $300 million base-area revitalization. The hotel’s influences are reminiscent of the tapestry of Taos – elemental, cultural, and sustainable. Opening in February, with lifts adjacent to the alpine guesthouse, well-appointed rooms start at $249/night.
HUUS Hotel
If you’re looking for an authentic, comfortable, Alpine-style chalet, look no further than this new 131-room hotel located in Gstaad, Switzerland. Nestled in the Bernese Alps and just a mere two miles from the Schonried and Gstaad lifts which boast the best ski terrain in the world. Rooms start at a modest $152/night, which leaves you feeling fresh to explore the more than 150 miles of slopes and trails right from the hotel.
Hotel Talisa
Coming off a rebranding – previously the Vail Cascade Resort – this relaxing yet refined 285-room, alpine-inspired hotel offers unparalleled mountain experiences with on-site access to the Cascade chairlift. Located at the base of Vail Mountain, there are plenty of soaring evergreens and aspen to explore. Accommodations coming soon.
Sources:
BISNOW, Winter is Coming: Here are 5 Cool New and Improved Ski Resorts from around the World
A Year in Review: Meissner Jacquét Brings in Half a Million Square Feet
Even though commercial real estate trends in 2016 were disappointing according to chief economists – with the overall expansion since the recession being only two-thirds as robust as in previous recoveries – Meissner Jacquét’s business boomed with close to 500,000 total square feet in new property management accounts and ancillary corporate real estate services, including accounting-only contracts.
| Office – 400,353 total new square feet under management in 2016 | |
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Plaza at Eastlake 2300 Boswell Road Chula Vista 130,324 square feet, Office |
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Pacific Corporate Center 10120 Pacific Heights Blvd Sorrento Mesa 52,540 square feet, Office |
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Stonecrest Office Project 9640 Granite Ridge Drive Kearny Mesa 40,000 square feet, Office |
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610 W. Ash 610 West Ash Street Downtown San Diego 177,489 square feet, Office |
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Genesis Plaza 4995 Murphy Canyon Road Kearny Mesa 57,685 square feet, Office |
| Industrial – 41,034 total new square feet under management in 2016 | |
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10140 Mesa Rim Road 10140 Mesa Rim Road Sorrento Mesa 41,034 Total Square Feet, Industrial |
| Retail – 57,414 total new square feet under management in 2016 | |
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Paseo Carlsbad Retail Center 850 & 890 Palomar Airport Road Carlsbad 26,629 total square feet, Retail |
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Foley Uptown Retail Center 1202-1236 University Avenue Hillcrest 30,785 total square feet, Retail |
| Accounting-Only Contracts | |
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North Coast Business Park & Association 511, 519, 523, 527, 531, 535, 539 & 543 Encinitas Blvd. North Beach Cities 181,755 total square feet, Office |
About Meissner Jacquét
Founded in 1992, Meissner Jacquét Commercial Real Estate Services has the knowledge and experience to provide commercial real estate solutions to office properties, retail centers, industrial parks, and commercial owner associations for institutional and privately-held investors, whether they be local, regional, or national. For more information, please contact Brent Williams at 858-373-1113 or [email protected], or visit mjcres.com.
Sources:
Potential Economic Consequences from President-elect Trump’s Policies
Many Americans are speculating about what Donald Trump’s presidential win will mean for global economies during his term in office and over the long term. If President-elect Trump’s policy statements that he promised on the campaign trail come to fruition, it will signify a coming shift in global policies surrounding free trade, immigration and international finance.
While the win dealt an initial shocking blow to global financial markets, with stock futures plunging the night of the election, the futures market improved the morning after Trump’s acceptance speech. There was surprise but the surprise was short-lived, and the hope is that trend continues.
President-elect Donald J Trump – who will become the 45th president of the United States of America – has stated that his immediate priorities include a rewrite of the tax code, which will have a major impact on the commercial real estate industry. Reactions from Trump’s proposed legislation has commercial real estate professionals split over the positive and negative consequences.
Pros
- If Trump can deliver what he promises and create 25 million jobs and reduce the corporate tax rate, which is 38.9% (the highest in the world among industrial nations), it could bode well for all industries. The change to the corporate business tax will impact startup companies by creating additional opportunities, and hopefully larger companies reinvesting additional capital into business.
- Trump’s stance on Dodd-Frank regulations stated on his transition website that “banks and lenders provide funding to small businesses and mortgage borrowers to help fund the American Dream,” and that Dodd-Frank regulations are an example of what not to do, in that federal policy should encourage free enterprise, not stifle it.
- Trump will roll back government regulations built up under President Obama that impose stricter guidelines on how businesses access credit.
Cons
- Beacon Economics’ forecast analyzed how Trump’s policies could be enough to push the country into a recession. While tax cuts could create a good short-term impact and growth, it will increase the federal deficit and widen the trade deficit, the report forecasts.
- Strict immigration policies and deportation of undocumented residents could hinder companies from attracting additional talent from abroad.
- Trump’s trade policy and how the President-elect campaigned on using tariffs to increase the cost of goods from China and other countries imported into the U.S. would impact the supply chain and may cause other countries to retaliate and put tariffs on American goods.
Summary
While political uncertainty is not anybody’s friend, real estate or not, the expectation is that advisers to the White House will rein in rhetoric from the race and propose more reasonable positions. The pace and intensity of commercial real estate may slow as owners and investors wait to see what the new administration and still-Republican-controlled Congress proposes. However, the likelihood is that Trump’s policies will only become clear after his first 100 days in office.
Sources:
BISNOW, Blackstone’s Schwarzman Predicts Trump Will Be Good for Business
BISNOW, Trump to be Named 45th President of the US, Now What?
NAIOP Source, Trump Wins and Republicans Hold the House and Senate – What’s Next?
BISNOW, 4 Things to Consider Regarding Trump’s Plans for Dodd-Frank
BISNOW, President-Elect Trump’s Potential Impact on the West Coast
Meissner Jacquét is Seeking Qualified Client Services Coordinator!
Meissner Jacquét is seeking a Client Services Coordinator to work with the Business Development Manager. The position will support a variety of sales and marketing activities that directly support the company’s business development efforts and service existing clients. Know someone perfect for the job or interested in applying? Read on for the job description.
Essential Duties & Responsibilities
- Works with Business Development Manager regarding sales and marketing goals.
- Gathers, organizes, and inputs client and prospect data into CRM.
- Prepares various sales deliverables which directly support client acquisition.
- Assists with the preparation, maintenance, and distribution of marketing collateral and content creation for the Corporate Advertising Program.
- Coordinates client services that reinforce on-going sales and client retention process.
- Communicates directly with internal team, external clients and prospects.
- Coordinates and attends commercial real estate industry-related functions and activities, including NAIOP, trade show conventions, etc.
Professional Qualifications
- Minimum three years’ experience providing administrative support to multiple, or team of, professionals engaged in the sale of professional services. Two years’ experience in the Commercial Real Estate industry with competence in industry terminology and concepts that support the job description. Strong marketing knowledge. College degree required.
Critical Skills & Attributes
- Computer Skills: Baseline proficiency including, but not limited to, Microsoft Office Suite (Word, Excel, Outlook, PowerPoint), Adobe (Acrobat, InDesign, Photoshop), and other software deemed necessary by the Organization. Tested prior to hire and expected to learn other position-related systems on the job.
- Financial Ability: Requires knowledge of financial terms and principles. Ability to calculate intermediate figures such as percentages, discounts and/or commissions. Conducts basic financial analysis. Ability to abstract a lease.
Benefits
Meissner Jacquét values our employees’ time and efforts. Our commitment to their success is enhanced by our competitive salary and our extensive benefits package including: paid time off, medical, dental and vision benefits, and future growth opportunities within the company.
Qualified applicants apply today!
View the complete job description or to respond to this opportunity, please send resume with salary history to [email protected]. Please be sure to place Client Services Coordinator in the subject line.
About Meissner Jacquét
Founded in 1992, Meissner Jacquét Commercial Real Estate Services is a highly-skilled team of real estate problem solvers, risk managers, and trusted advisors who provide exceptional commercial property management and asset management services to our clients. We work to maintain the best possible environment for our employees, where people can learn and grow with the company. Meissner Jacquét strives to provide a collaborative, creative environment where each person feels encouraged to contribute to the company’s processes, decisions, planning, and culture.
Sources:
Meissner Jacquét Assumes Management of Prestigious Office Asset in Eastlake
| Property Name: | Plaza at Eastlake |
| Property Location: | 2300 Boswell Road, Chula Vista, CA 91914 |
| Property Description: | 130,324 total square feet, Office |
Meissner Jacquét continues to expand its office portfolio with the Plaza at Eastlake, a multi-tenant, two-story, Class A office property located in the Chula Vista Submarket of San Diego County. The Plaza at Eastlake is located within Eastlake’s master-planned community that features over one million square feet of recently developed retail, restaurants and other amenities, including a park and recreation area that features volleyball, basketball and tennis courts, soccer and softball fields, and picnic areas.
Iron Point Titan Asset Management LLC, owner of the prestigious asset, is a registered investment adviser that manages a series of real estate private equity funds formed to invest in opportunistic real estate transactions throughout the U.S. and North America. Due to Meissner Jacquét’s experience and valued relationships with key players in the commercial real estate industry, Ownership felt confident in its decision to divide the brokerage and property management services among two qualified firms.
As an institutional owner based out of Texas, Meissner Jacquét acts as Ownership’s local liaison to ensure their business plan and property goals are achieved. With the leasing rate currently at 35%, Meissner Jacquét’s primary focus is to work in conjunction with Ownership and the brokerage team to assist in the leasing and stabilization of the asset by keeping available spaces in rent-ready condition and ensuring appropriate property management procedures are in place to maintain the high-quality asset in peak condition.
About Meissner Jacquét
Founded in 1992, Meissner Jacquét Commercial Real Estate Services has the knowledge and experience to provide commercial real estate solutions to office properties, retail centers, industrial parks, and commercial owner associations for institutional and privately-held investors, whether they be local, regional, or national. For more information, please contact Brent Williams at 858-373-1113 or [email protected], or visit mjcres.com.
Sources:
Investors React to Real Estate Coming to the Global Market
It’s about time that real estate had its own sector within the Global Industry Classification Standard (GICS). The addition of the Real Estate Sector took place on August 31st, when S&P Dow Jones Indices and MSCI moved stock-exchange listed Equity REITs and other listed real estate companies and elevated them from a subsector under the Financials Sector.
The Real Estate Sector is the first new headline sector added since GICS was created in 1999.
Real estate companies – including equity REITs and development and real estate management companies – will finally be in a league of their own and no longer lumped with banks and insurance companies. The change reflected the growth in size and importance of real estate in the economy.
However, instead of mass rejoicing, market participants seem to be viewing the reclassification as a retrospective acknowledgement that real estate maturation in the public markets no longer relegates it to an “alternative” asset class.
What is the GICS?
The GICS was established in 1999 and is the standard classification system used throughout the world to categorize listed equities and to analyze investment performance and economic activity, according to NAREIT.
In late 2014, the S&P Dow Jones Indices announced plans to break out REITs and related real estate companies into its own category. Due, in part, to REITs having a reasonable track record and currently representing about 4% of the S&P 1500.
As of December 2015, there were 95 equity REITs and real estate companies listed on the S&P Composite 1500 Index that moved to the new real estate sector. Over the past 25 years, the total equity market capitalization of listed U.S. Equity REITs accounts for more than $1 trillion, up from $9 billion.
The Real Estate sector is the 8th largest of the 11 headline sectors in the equity market capitalization. Making it larger than Utilities, Materials, and Telecommunication Services.
Effects on CRE Industry
The question is how the new sector will affect the industry as a whole. The immediate impact of the reclassification will likely be modest. However, due to about 98% of the new sector’s equity market cap coming from equity REITs – while continued foreign investment in U.S. real estate supports healthy commercial asset valuation – the sector should be a catalyst for significant, positive developments in the stock exchange-listed REIT market.
The increased visibility will work to promote investment for real estate companies that fall within the new sector, which will enhance REIT value as a way to diversify portfolios. A larger and more diverse investor base may also help moderate the severity of real estate market cycles, benefitting the broader economy.
In addition, the new classification will also decrease volatility in the financials sector – financials being one of the more volatile GICS sectors – which may help reduce volatility of REIT share price.
Summary
Real estate becoming its own sector within GICS is the next step in providing comfort to investors that commercial real estate, in general, and REITS, in particular, are mainstream investments.
About Meissner Jacquét
Founded in 1992, Meissner Jacquét Commercial Real Estate Services has mastered the components of asset management that directly affect an asset’s underlying value. Our asset management experience includes a working knowledge of real estate investment objectives and valuation; risk analysis; investment buy-sell decision analysis; financing and refinance decisions; and repositioning and renovation decisions. For more information, please contact Brent Williams at 858-373-1113 or [email protected], or visit mjcres.com.
Sources:
NAIOP Commercial Real Estate Development, Fall 2016, Real Estate Comes Into Its Own
BISNOW, Everything You Need to Know about the New Real Estate Sector Coming to the Global Market in September
REIT.com, GICS Classification of Real Estate
Four Factors that Make for Award-Winning Development
Right now the industry buzzword is “creative” office space – marked by highly functional, yet aesthetically appealing design conducive to employee collaboration and interaction.
Yet when considering a commercial project’s overall appeal, there are many other critical factors to consider – from sustainability to economic impact, and high-tech amenities to community needs.
Ultimately, award-winning development integrates with and enhances its surrounding community – by interweaving itself in the surrounding environment – while accommodating the wants and desires of the developer and end user.
Our City San Diego, a regional magazine which covers politics, business and real estate, recently highlighted five San Diego projects in its inaugural “Our City Development of the Year” contest. The magazine focused on projects that “push the boundaries when it comes to lifting up communities,” with the judges examining not only project design, but how the developments have “helped shape and drive the communities they have become a part of.”
With this in mind, projects were judged 40% on vision, 25% on community improvement, 25% on aesthetics and 10% on environmental sustainability. The competition included five categories: small and large multi-family, small and large commercial development, and affordable housing.
The winning projects included 1941 Columbia (1941 Colombia Street, San Diego) and Famosa Townhomes (4183 Voltaire Street, San Diego) for the multi-family housing category with less than 30 units; Mr. Robinson (3752 Park Blvd., San Diego) for the multi-family housing category with more than 30 units; 227 Broadway (227 E. Broadway, Vista) for the small commercial category; and in the large commercial category, Make (5600 Avenida Encinas, Carlsbad), developed by CGS3 client Cruzan. CGS3 is honored to work with this forward thinking company, whose Make development is described by Our City as 175,000 square feet of “wow” and “arguably the coolest office space in the region.”
CGS3 represented Cruzan in the leasing and amenities transactions involved in the redevelopment of this former warehouse – which was transformed into an outdoor-centric, creative office complex – and helped land camera giant GoPro, Inc. as its first tenant.
“As land becomes scarcer, developers must be more creative in their approach to maximizing space and creating agreements,” said Craig Swanson, Partner at CGS3. Craig specializes in the acquisition, disposition, development, leasing and financing of commercial and mixed-use projects.
Amenities in this multi-tenant project – previously the Floral Trade Center – include outdoor surf showers, a fire pit, horseshoe pits, an outdoor amphitheater, a café housed in a shipping container, electric vehicle chargers, and a state of the art fitness center. Make is a forward-thinking, office redevelopment project that certainly sets a new standard for creative office space in San Diego.
All of the Our City winners have helped create community awareness and vitality through commercial real estate redevelopment in San Diego County.
About CGS3
CGS3 provides legal services throughout the commercial real estate life cycle by looking at the implications that can affect clients’ transactions down the road in order to protect their interests and maximize their investment in office, industrial, retail and mixed-use properties. For a practical and pragmatic approach to commercial real estate, contact Craig Swanson at 858-367-7690 or [email protected], or learn more about CGS3.
Sources:
Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3)
Our City San Diego
Kristin Howell Named among San Diego’s Top 100 Influential Leaders
Kristin Howell, Vice President of Operations, was nominated as one of San Diego’s Top 100 Influential Leaders by The Daily Transcript.
Earlier this year, Kristin Howell was promoted to Vice President of Operations for Meissner Jacquét Commercial Real Estate Services, which has a commercial real estate portfolio of approximately 15 million square feet across Southern California. Howell has been with the commercial property management company for more than 15 years, previously serving as Senior Portfolio Manager.
In her new role, she supervises a team of commercial real estate managers who handle day-to-day operations of the properties in her portfolio. She also oversees operations of the company, including hiring new employees, personnel matters and working to improve efficiencies.
Kristin’s favorite aspect of her role is that she “gets to play an active part in making the company better by improving processes.”
With more than 29 years of experience in the real estate industry, Howell’s first contact with property management came early – after being hired for her first job at 16 running a hot dog stand in a shopping center. Her hard work and efficiency were noticed and within 6 months she was managing the entire shopping center.
Besides her responsibilities with Meissner Jacquét, Howell has been heavily involved with the San Diego Building Owners and Managers Association (BOMA). She served as president of BOMA San Diego for two years, completing her second term at the end of 2015.
Under her leadership, BOMA successfully campaigned to overturn a linkage fee on commercial development designed to help subsidize affordable housing in the city of San Diego. The fee would have been increased by 350% to 750%, depending on the development type, and would have cost the industry an estimated $8 to $10 million annually. BOMA negotiated a compromise with the city council to increase the fee slightly and find alternative funding sources for affordable housing.
Howell continues to be active within BOMA and cites the importance of the association’s role in bringing awareness to legislators and industry professionals about the effect of city, state and federal legislation. “Oftentimes, lawmakers don’t think about how things impact our industry,” Howell said. “But if we don’t pay attention, do legislative visits and educate legislators to the issues that affect us, they won’t know.”
About Meissner Jacquét
Founded in 1992, Meissner Jacquét Commercial Real Estate Services has the knowledge and experience to provide commercial real estate solutions to retail centers, office properties, industrial parks, and commercial owner associations for institutional and privately-held investors, whether they be local, regional, or national. For more information, please contact Brent Williams at 858-373-1113 or [email protected], or visit mjcres.com.
Sources:
The Daily Transcript
Meissner Jacquét Commercial Real Estate Services