Reprinted from National Real Estate Investor (Bloomberg)—Covington, Ky., a city of 40,000 across the Ohio River from Cincinnati, seems like an odd place for a high-end hotel. For Mario Tricoci, that’s a selling point. Last year, the Chicago developer hooked up with a local real estate investor on a $22 million retrofit of a century-old, […]
Reprinted from money.cnn.com There’s a love affair happening with an unlikely type of real estate: America’s empty factories and warehouses. Vacant commercial spaces are in high demand as both startups and multinationals look for facilities to house their U.S. operations. Several factors are driving this trend, according to Stuart Lichter, president of Industrial Reality Group, one […]
Reprinted from www.gordonbrothers.com Today’s retailers face unprecedented challenges in the marketplace as they confront the evolution of not only customer shopping patterns, but also how retail is defined. Historically, top tier retailers thrived because they had the best locations and offered desirable merchandise at a great value proposition. Add to that efficient merchandising controls and […]
Reprinted from The Wall Street Journal Overbuilding, e-commerce force landlords to get creative with new developments Visitors used to flock to the Highland Mall in Austin, Texas, around the holidays to stroll through the city’s first enclosed shopping complex and admire the giant Christmas tree crafted from poinsettia plants. But this holiday season, no shopping […]
Reprinted from http://www.courierpostonline.com/ CAMDEN – What happens when you restore rundown buildings that contribute to violence? Camden is about to find out. The Michigan Youth Violence Prevention Center has received $6 million from the Centers for Disease Control and Prevention to continue its studies on how improving vacant properties affects violence, property crimes and intentional injuries among youth. […]
Reprinted from www.freep.com In Detroit, many residents live and shop near hulking vacant buildings that have been abandoned for years, places that attract crime, vagrants, graffiti and scrappers. Many of these blighted buildings line well-traveled corridors throughout Detroit’s neighborhoods. But exactly who owns them and why they remain in terrible condition for so long remains […]
Article Reprinted from www.cleveland.com Even as vacancy climbs at Northeast Ohio shopping centers, ambitious developers are culling new land in far-out suburbs to build more shopping space. The rotting malls and town centers residents abandon as they sprawl to newer and farther suburbs become the blight of a region, a recurring cycle of waste that […]
Vacant Property Maintenance Planning Vacant property maintenance is time consuming and tedious. Having an extra property on your hands, especially one located remotely, provides challenges to maintaining your investment. Coordination, repair and proper reporting takes up precious time that you could use to grow your business. At Commercial Asset Preservation (CAP), we’ll inspect and maintain […]
It is every business owner’s worst nightmare. After years of hard work and dedication, one or more of your business locations is closing. Now you’re left with a vacant building that still has all of your company signage and branding inside and out. If you still operate in other cities or states, having an ugly […]
Reprinted from www.kcur.org It was a tearful, dramatic day five years ago, when the school board of Kansas City Public Schools decided to close 21 buildings in order to adjust to a shrinking student population. That was in addition to nine previously closed schools, leaving the district with 30 surplus buildings. Kansas City is not the only district […]