TRI Property Management & Vendors Raise Funds for Compassion Planet

On behalf of Compassion Planet, the staff and management of TRI Property Management would like to thank our vendors for their generous support!

With their help, we raised $7,825 this year – our largest donation since the program began in 2006 – including $3,100 in holiday gifts for children at Compassion Planet and a $4,725 monetary donation to help defray operating expenses throughout the year.

Compassion Planet has tirelessly worked toward the goal of empowering local aged-out foster youth and at-risk youth (ages 18-24).  Since their inception, they have been aware of the tremendous risk and vulnerability of disconnected young adults.  Their dream was to start a program that connected with this under-served population and TRI believes they have done that, which is why we have chosen to support them.

If you are interested in learning more about Compassion Planet, please visit their website at https://www.compassionplanet.org/

It’s been an incredible year and we thank our vendors again for taking part.  Through their extraordinary generosity we’ve donated more than $54,000 to local charities over the past 13 years!  It’s a holiday tradition we look forward to sharing for years to come.  The companies who participated in 2018 are listed below.

– John Gallagher, TRI Property Management

 

2018 Generous Donators:

20/20 Window Care, Inc.
ABC Pressure Washing
All American Sweeping Co. Inc.
C & C Interiorscapes
Champion Fire Protection
Don Heene Plumbing
Explorer Pest Management
H20 Proof Roofing Services
J & S Asphalt Old Village Landscaping Inc.
Law Offices of Joseph W. Carroll
SSRP, Inc. d/b/a Sure Shot
Tecta America Roofing
Trainor Fairbrook
Cassie Nagel
Andrew Murbach
Debbie Fender
John Gallagher
TRI Property Management

 

Year & Donations:

2006  –  $2,000
2007  –  $3,225
2008  –  $2,800
2009  –  $2,000
2010  –  $3,800
2011  –  $3,865
2012  –  $4,025
2013  –  $3,575
2014  –  $3,450
2015  –  $5,100
2016  –  $5,825
2017  –  $6,550
2018  –  $7,825

TOTAL:  $54,040

2018 Q3 TRENDS – San Francisco – Office

2018 Q3 TRENDS – Sacramento – Office

2018 Q3 TRENDS – Sacramento – Retail

2018 Q3 TRENDS – Sacramento – Industrial

By Andrew Jaffe  

The U.S. office market is in a healthy state of equilibrium, with vacancies in the low teens and net absorption levels that are keeping pace with new development. But the solid state of the overall market isn’t shared equally across the board. Some cities, and some neighborhoods within cities, are attracting new residents and jobs, and have practically no vacancy. In other places, vacancy rates are over 15 percent and net absorption is flat. For owners in this second category, keeping space leased requires a more focused approach.

“The U.S. is experiencing one of the longest economic expansions in history, with no indication of recession in the near term. That gives investors the confidence to focus on Class B and C assets in secondary markets, where there is still opportunity to create value in properties experiencing high vacancy rates,” said Cole Sweatt of TRI Commercial/CORFAC International in Roseville, California.

“Maintaining a building with Class A features in a secondary market offers tenants a truly valuable proposition,” said Lloyd Berger, founder and president of Berger Commercial Realty/CORFAC International in Fort Lauderdale, Florida. “Rents may be more affordable while still offering office workers convenient amenities in an easily accessible location that’s usually within close proximity of major towns or cities. It’s a successful strategy that we’ve seen work for many of our landlords.”

The best strategy for keeping tenants in place is to be responsive to their needs throughout the term of the lease. But even an owner who can renew every tenant’s lease may see vacancies rise, since many companies are adopting open-space layouts and work-from-home policies that require less office space per employee. If more tenants in the area are reducing occupancy than increasing it, some buildings are going to have high vacancy — so how can you ensure your building isn’t one of them? The good news is that a building in a secondary market doesn’t need to compete against Class A buildings in live-work-play markets; it only has to go up against other nearby buildings, which are likely to be in the same situation. With this in mind, here are a few ways to make your building stand out from the crowd:

Add Amenities: Companies view it as a loss of productivity whenever their employees need to leave the property during the workday — whether it’s for lunch or a work-related task like printing or delivery services. Employees would also prefer the option to stay on-site if possible. Food and beverage options are the most important amenities to attracting and retaining tenants, but offering convenient business services can also make a big difference. In markets where these amenities are widely available, owners might consider more lifestyle amenities such as a fitness center, but only after careful consideration of the cost and value of these amenities.

Preserve History: The opportunity for historic preservation is stronger than ever, as tenants increasingly view occupancy in renovated historic buildings as a plus rather than a compromise. “In Cleveland, owners and buyers are looking for ways to increase a property’s value through retrofitting, and there are a lot of unique opportunities offered by older and even historic buildings,” said Kevin Joseph of Weber Wood Medinger/CORFAC International. “We’ve found this approach to add value when it comes to meeting modern or traditional office environments.”

Emphasize Health and Well-being: The conversation around sustainability has moved beyond energy consumption to focus on building features that promote employee wellness and sense of well-being. In some cases, owners can make use of natural light or outdoor spaces to gain an advantage. In addition, programs like blood drives and on-site flu vaccinations can help attract the growing number of companies that factor wellness into their occupancy decisions.

Get Wired: The quality and speed of internet and cell phone coverage can be vital to corporate productivity. Anything a building can do to enhance its power and connectivity will appeal to many tenants — especially those in fast-moving fields like technology.

Create Shared Spaces: Tenants seeking greater space efficiency would like to eliminate the need for underutilized areas like conference rooms and large, open seating areas. Owners are often reluctant to provide such spaces for tenants to reserve or share because it can reduce the amount of space they need to lease. But in a competitive market, it’s better to retain tenants at a reduced size than to lose them to another building that offers a better value. In addition, shared amenities encourage interaction and networking, which can greatly increase a building’s appeal to new tenants and employees.

For example, 1901 Congress Avenue in Boynton Beach, Florida, is located in a secondary market in South Florida that has experienced high vacancy for years. The property was just 65 percent occupied when a client of Berger Realty acquired it and invested in a major renovation, resulting in an increase in occupancy to more than 90 percent, Berger said.

A building in a Class B or C location may not be able to offer the same level of features and amenities as a trophy building in an A location. But there are cost-effective ways to boost your building’s appeal in any location. When competition gets tough, the buildings that do the best job of meeting tenant priorities will win the day.

Andrew Jaffe

Andrew Jaffe serves as President of CORFAC International, a global network of entrepreneurial commercial real estate brokerage firms, and as Senior Vice President at Commercial Properties Inc., a full-service property management and brokerage firm based in Phoenix, Arizona.  In the course of his career, Andrew has completed transactions with a combined total value in excess of $1 billion.

https://www.corfac.com

Source: Back-filling Office Space in Class B and C Locations

Cautious Optimism is the Watchword for Retail Investors

Presented by CORFAC International
June 7, 2018 | By John Salustri

“We’re busier than ever,” says Christina Snyder, one of three CORFAC brokers lending their views to this exclusive RECon video. But that doesn’t prevent the trio from sharing some words of advice.

LAS VEGAS—“There’s a healthy level of fear that should come with any investment,” says Tony Banks of Wolf Commercial Real Estate/CORFAC International, Philadelphia in this exclusive RECon video interview. That said, success lies in the demographics and economics of the locale, adds Richie Blue (Blue & Obrecht Realty/CORFAC International, Baltimore). But wise investors should allow for a vacancy factor greater than what actually exists in target properties, adds Christina Snyder (TRI Commercial/CORFAC International, San Francisco).

With that in mind, how can landlords hedge their bets? What should they be doing to attract tenants in today’s market? And with the expected growth of online grocery retail, how can grocery anchored brick-and-mortar respond? Watch the video to uncover the answers to these questions and more.

Written by:  John Salustri of GlobeSt.com
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.

Download full article and watch the video here.

  

   

   

 

  

 

Your key to success?
More effort, more calls, NOW!

Biggest moment/feeling of success?
In 2015, six-digit success. 

Greatest challenge and how you overcame it?
Challenge: Losing several big listings.  Solution: reviewing client database and brainstorming bigger, better opportunities. It’s a matter of connecting the dots – matching trade buyers who want to invest here with the right apartment properties in Sacramento.

Most notable Apartment Market trend?
Apartment pricing has reached peak levels.  Make sure every Multi-Family acquisition has a sound operational strategy (new tenants, cost savings, online marketing, etc.) At these prices, investors must know who their prospective tenants are, what they can pay, and why they will choose this property over the competition.

Favorite building in which you were involved in the transaction? 
Continental Arms, 39 units in Roseville. This is the acquisition that convinced me to focus on Multi-Family brokerage. It delivered significant value to my client. The property was languishing on the market, until the right investor came along and took it on. Again, it’s all about matching investors with the right properties.

Key to building great relationships with clients? 
Get to know more about them. Ask them about the type of properties they like and why. Find out what craft beer they like. Find out about their families, the names of their wife and kids. 

Key to building great relationships with other agents?   I’m happy to strike a deal to move a deal ahead. Don’t be a slacker.  If I collaborate with an agent, I basically consider them to be my client. 

When did you obtain your BRE license?
Strangely enough I did it twice, in July of 2002, and again in 2011.  When I got my license the first time, my plan was to broker apartments in Los Angeles but instead I got a job doing acquisitions for Westfield (the Australia-based, shopping center conglomerate).  I didn’t need my broker’s license while I was at Westfield and I inadvertently let it lapse. When I moved to brokerage, I had to study up and take the test again.

TRI Commercial was presented as the Gold Award Winner of CORFAC International‘s Fifth Annual Standards of Excellence Awards at the Fall Summit in Denver, CO.
Recognizing a company’s leadership, participation, referrals, industry awards, CORFAC branding, and reporting, we at TRI are honored, humbled, and excited to continue embodying these valuable attributes!  Thank you for your acknowledgement and support!
https://lnkd.in/gF6F8xh