CUPERTINO, Calif. - With the Federal Reserve promising continued Quantitative Easing, Washington jargon for printing money, a local real estate investment expert says physical assets may be the best way to navigate the next four years.
SANTA BARBARA, Calif. - Lee & Associates, one of the nation's leading commercial real estate providers with regional and local expertise, has closed a $9 million sale transaction for a 47,411-square-foot industrial property located at 25 E. Mason Street in Santa Barbara, Calif. At $190 per-square-foot, the building is less than a quarter mile from the city's pristine waterfront.
Locally known as the "Funk Zone" for its make-up of primarily industrial properties, this area of Santa Barbara has recently attracted a mix of artists, galleries, wine tasting rooms and locally-owned shops to open storefronts. In turn this has drawn tourists to the lower end of State Street, which connects the city's bustling retail corridor to the beautiful waterfront.
"This section of State Street has been struggling for several years," said Stephen Leider, Managing Principal of Lee & Associates – Central Coast. "The Mason Street sale will be an integral part of the area's ongoing revitalization."
The three-story building at 25 E. Mason Street has roof access with ocean views. The existing tenant, Brooks Institute of Photography, a well-known and prominent film, graphic design and photography school, currently occupies two-thirds of the building.
Clarice Clarke and Stephen Leider, both Principals in the Central Coast office represented the buyer, East Mason SB, LLC., and the sellers, Rossi Trading Company, LLC. and Scanlin Family Trust, in the transaction.
About Lee & Associates
Celebrating more than 33 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 45 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Indiana, Illinois, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.
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ONTARIO, Calif. — Lee & Associates, the nation’s largest broker-owned commercial brokerage firm, has closed a $6.2 million sale of an industrial building at 4200 Mission Blvd. in Ontario, Calif.
Principals Jedd Zaun and Bill Garrett of Lee Newport Beach represented the seller, JW Irvine L.P. in the 99,534-square-foot industrial building transaction. The buyer, Sample Real Estate, LLC, was represented by Steve Bellitti and Josh Hayes of Colliers International.
"We started marketing this building last year and we received multiple offers," said Zaun, noting that the buyer opted for a lease, with an option to purchase. "And while buyers are still looking for good deals, we were able to sell this property at a ‘solid price,’ which was great."
The building will be the new corporate headquarters and manufacturing facility for American Sample Company, Inc., a national supplier of sample products to the decorative fabric, hospitality, and contract fabric trade.
About Lee & Associates
Celebrating 32 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 45 locations across the nation including California, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, New Jersey, New York, Nevada, South Carolina, Texas and Wisconsin. With a roster of more than 600 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at ww.lee-associates.com.
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SAN JOSE, Calif. - Jerry Garrity of First Statewide Realty, who was recently interviewed for a Wall Street Journal article for his expertise in San Jose Property Management, is offering executive relocation tips to companies relocating employees to the Silicon Valley.
Garrity says the experience of two decades in real estate spanning five recessions gives him some measure of wisdom he shares with clients, whether individual investors or companies using his services for executive relocation.
"Often, companies who are relocating an employee think they are saving money by managing the details of the move internally, such as scouting for rental properties, arranging rental contracts, coordinating moving companies, etc. Inevitably, they end up wasting valuable time and money in the process."
He says that one of his first pieces of advice is that time is money, and having employees try to learn the ins and outs of real estate management consumes a lot of both.
"I highly recommend hiring an experienced property management company like First Statewide Realty to take care of the details of an employee relocation. We do this every day. There's no learning curve, we took care of that 20 years ago."
Garrity also says advises companies to view executive relocation services as an investment in their employee's productivity.
"When an employee arrives in a new home amidst the chaos of a move that wasn't well planned, it's our experience that work productivity suffers dramatically. Employees are a valuable human resource, and wasting their time and energy by imposing unnecessary stress on their home life just doesn't make sense."
Garrity says he's available to provide a full range of expert advice on taking the hassles out of employee relocation to companies.
"When an employee is being transferred to a new city, they are already dealing with enough upheaval in their life without adding extra burdens by having them deal with relocation details. We'll take the burden of dealing with their move off of their hands and give them a much easier transition."
About First Statewide Realty
Jerry Garrity is a seasoned expert in property management whose expertise has been featured in the Wall Street Journal and other publications. His professional Property Management San Jose company First Statewide Realty specializes in managing single family homes, condominiums, townhouses and other investment property in the greater San Jose metropolitan area. His Cupertino property management firm has been in business for over 21 years, and is a member of the Santa Clara County Association of Realtors, Silicon Valley Association of Realtors, National Association of Realtors, California Association of Realtors, Tri-County Apartment Association and National Association of Residential Property Managers.
Jerry Garrity
First Statewide Realty
20045 Stevens Creek Blvd.
Suite 2-D
Cupertino, CA 95014
Tel: 408-253-1000
Lic#: 01036982
Email: investments@firststatewiderealty.com
http://www.firststatewiderealty.com
SAN JOSE, Calif. - Jerry Garrity with San Jose property management company First Statewide Realty says it's still possible, even in these tough economic times, to maintain a positive cash flow on real estate investments.
As property values fluctuate with regional and macroeconomic factors, he says his investor clients stay in the game through smart investing and expert property management.
"Seasoned investors know that property management services belong in the asset column, not the expense column on the balance sheet. With the right mix of savvy investing and conservative property management, we can keep our clients in the black when others cannot."
Garrity says the reasons his clients are still able to stay positive is that they have a plan and are sticking with it.
"So many investors try to chase the market up and down, but that's more like speculation than investing. We help our clients evaluate potential deals to add to their portfolio drawing from our experience in all types of marketing conditions."
He says that while investors and speculators alike can get discouraged about property values, those who stick with a long term plan with tight controls on expenses will come out ahead.
"We've weathered several bull and bear markets in real estate. Consequently, so have our clients. I think that says a lot."
About First Statewide Realty
First Statewide Realty is a professional San Jose property management company specializing in quality single family homes, condominiums, town houses and other San Jose investment property in the greater San Jose metropolitan area. The company is active in the Cupertino property management business and has been in business for over 21 years, and is a member of the Santa Clara County Association of Realtors, Silicon Valley Association of Realtors, National Association of Realtors, California Association of Realtors, Tri-County Apartment Association and National Association of Residential Property Managers.
Jerry Garrity REALTOR®
First Statewide Realty
20045 Stevens Creek Blvd.
Suite 2-D
Cupertino, CA 95014
Tel: 408-253-1000
Lic#: 01036982
Email: investments@firststatewiderealty.com
http://www.firststatewiderealty.com
Mountain View, Calif. - Doing it yourself may not pay off when it comes to investment property management, says long timeMountain View property manager Jerry Garrity of First Statewide Realty. According to Garrity, whose experience in Mountain View property management spans over 21 years, statistics show that most owners who try to save money by handling management tasks themselves actually end up losing money. He says there is a lot more involved in managing rental property than most new investors realize. "First and foremost, good property managers have a lot of experience screening renters to get the best ones. If this isn't done well, than nothing else matters." After that, Garrity says there are many important things that a professional management company does on a monthly basis, such as collect rents, keep the home maintained properly, and keep costs at a minimum. “Experienced real estate investors use experienced property managers for one reason: Because it makes financial sense.” He says that since many property owners are new investors as a result of circumstances in the housing market or a job relocation, many make the mistake of underestimating the value of good property management techniques that come only by experience. "Managing real estate involves coordinating people, money, time, and other resources. As a result, a property manager in Mountain View like First Statewide Realty, which has the benefit of 21 years of experience in the field, actually makes their clients money." Garrity says that there is nothing wrong with the do-it-yourself attitude in life, but notes that there is a reason seasoned investors are not do-it-yourself-ers when it comes to property management. "Experienced real estate investors use experienced property managers for one reason: Because it makes financial sense." About First Statewide Realty First Statewide Realty is a professional Mountain View property management company specializing in quality single family homes, condominiums, town houses and other investment property in the greater San Jose metropolitan area. The Cupertino property management firm has been in business for over 21 years, and is a member of the Santa Clara County Association of Realtors, Silicon Valley Association of Realtors, National Association of Realtors, California Association of Realtors, Tri-County Apartment Association and National Association of Residential Property Managers. Contact: Jerry Garrity
First Statewide Realty
20045 Stevens Creek Blvd.
Suite 2-D
Cupertino, CA 95014
Tel: 408-253-1000
Lic#: 01036982
Email: investments@firststatewiderealty.com
http://www.firststatewiderealty.com
Colorado Springs, CO. - Nicole Lee with the Ashford Real Estate Group, a leading Colorado Springs property management company, says the recession has significantly lessened the margin of error for real estate investors who are feeling squeezed by the economy and can no longer afford inefficient cost controls and inexperienced management of tenants and vacancies.She says that property managers who don't sufficiently screen tenants for ability to pay the rent and likelihood of paying it on time, and who don't take proactive steps to reduce or eliminate vacancies, can end up permanently destroying their clients' real estate assets. In some cases, they may risk putting their clients' properties into foreclosure.In one recent case, Lee says that a builder with nine income properties faced catastrophic loss of all assets in foreclosure proceedings because six of the nine tenants stopped paying the rent. According to Lee, this is happening more frequently to inexperienced property managers as the job market continues to underperform, and more renters start getting behind on their rent. She says that her clients haven't suffered that fate because of her quick-response strategy for late payments."We protect our clients going into the lease agreement, first of all, by being extremely picky about the tenants we allow into the property. There are plenty of good tenants out there if you know where to look, and we definitely know where to look."She says that once the lease is signed with a reliable tenant, it's still more important than ever to be diligent in managing every aspect of a property's investment potential. If and when a late payment occurs, her property management company has quick reflex policies to deal with it and keep a small problem from becoming a large one."Many Colorado Springs real estate managers don't realize the dramatic impact they have on the bottom lines of their clients' balance sheets each year. We take our clients' assets very seriously, because we want our property owners to stay with us for decades."Lee says that too many homes are going back to the bank these days, but that foreclosures should present opportunities for investors, not problems."By being proactive in our real estate management services, we're generally able to keep our Colorado Springs rentals consistently in a state of positive cash flow. That's why our clients stick with us through all types of markets - they know we're out to fiercely protect their investment."About Ashford Real Estate GroupNicole Lee of Ashford Real Estate Group is a part of the Masters Group and provides a variety of real estate services to Colorado Springs and surrounding military installations such as the Air Force Academy, Fort Carson, Peterson Air Force Base, Shriever Air Force Base, and Cheyenne Mountain Air Station.Nicole Lee's passion is finding the right place to live for military personnel and other residents looking for Colorado Springs homes for sale or rent, and managing investment properties efficiently for local and out of town investors. She also specializes in helping renters learn how to become first time homebuyers and enjoy the benefits of home ownership.Nicole Lee can be contacted at:Ashford Real Estate Group
4760 Flintridge Dr, Ste 100
Colorado Springs, CO 80918
Phone: (719) 314-6057
Fax: (888) 631-0062http://www.coloradospringshomesource.com/
http://www.coloradospringspropertymanagement.net/
http://www.coloradospringsrentals.org/Hear Nicole Lee discuss real estate management:
Colorado Springs, CO - Professional real estate property manager Nicole Lee of the Ashford Realty Group, a company specializing in Colorado Springs property management, says that finding quality tenants is one of the keys to keeping low vacancy rates for her real estate investor clients. She says that while many property managers shortcut the tenant screening process to save time, it invariably ends up costing both the manager and the owner more time and money down the road."We would much rather put the hard work into finding good tenants who are interested in taking good care of our properties up front than have to do two or three times the work in the long run by having to fill more vacancies."Lee says that there is a culture of cost-cutting among many management firms because most are only interested in the sales side of their business. That leaves the necessary task of screening tenants and keeping a property occupied underprioritized and understaffed."We take the long view with our business. We know that investors who place their properties with us do so to keep their investment property producing positive cash flow. That is impossible to do when you have a high vacancy rate due to insufficient tenant screening."She says her tenants have been known to go above and beyond the call of duty to leave a property in better condition than they found it.David Tanaka, President of Rocksolidpower Solutions, says that the Ashford Group has saved him thousands of dollars on his four Colorado Springs investment properties, in part through excellent tenant screening."Ashford Realty Group is not only an expert in their field but they have an expert staff and vendors who can service our Colorado Springs rentals at the most efficient cost. I have been a property owner for over 20 years and I know how hard it is to find a fantastic property manager."While other Colorado Springs property management firms focus on simply adding more properties under management to their rolls, Lee says she works hard to cultivate good relationships with experienced investors who will become lifelong real estate clients."Building a relationship based on trust with our investors and renters alike is an essential part of our job description. We've found that produces rewarding business relationships in the long term."For more information, please contact:Nicole Lee
Ashford Realty Group
4760 Flintridge Dr, Ste 100
Colorado Springs, CO 80918Phone: (719) 314-6057
Fax: (888) 631-0062http://www.coloradospringshomesource.com/
http://www.coloradospringspropertymanagement.net/
http://www.coloradospringsrentals.org/
Colorado Springs, Col. - Nicole Lee of the Ashford Group, a real estate team with the Masters Real Estate Group in Colorado Springs, has launched a new website with powerful search features for Colorado Springs homebuyers and renters.She says the Ashford Group, which handles both real estate sales and rentals as part of its Colorado Springs property management business, wanted to greatly simplify the home search process."We've tried to drastically reduce the number of clicks for users to search for Colorado Springs homes for sale. With our front page quick search box, it's possible to search by city and price range in one click."Another advanced feature of the site is that it focuses on each of the major cities in the Colorado Springs area right on the front page, providing one-click access to real estate searches for specific types of listings. She says buyers love the short cuts to find the exact type of Colorado Springs homes they are looking for."Our clients tell us that they love being able to quickly browse property listings right from the front page of our site in various categories. They can find real estate searches for homes by city, luxury homes, foreclosure and distressed properties, and even Colorado Springs homes for rent."Lee says that the easy home search tools are particularly useful for military families who are moving to the Colorado Springs area and who may not be familiar yet with all of the neighborhoods.The map search is just one example of that, according to Lee. She says that military families from out of the area can find where their base is and search for homes in their price range - whether they are buying or renting - right on a Google map in real time."A big part of our business is from the many military personnel stationed here because we understand their unique needs and provide real estate tools and expertise to make their lives easier."
