All Call for Input

[alb1no panther]

Hey Everyone,

I'm new and am loving the place.  After doing some workshopping, I have a few questions about a business proposition in Uptown.

Facts:

- price per sq foot in uptown

- i need to lease ~ 2500 sq ft

- link to available properties that are a 10 minute walk from the square

- ballpark figures for decent value vs. national market

- if no properties of this type are available, will more be coming online, e.g., parking decks in talks to turn street level into retail

 

I'm sure I'll have more questions, but this gets me started. 

 

Thanks a ton!

[jwntim]

1 hour ago, alb1no panther said:

Hey Everyone,

I'm new and am loving the place.  After doing some workshopping, I have a few questions about a business proposition in Uptown.

Facts:

- price per sq foot in uptown

- i need to lease ~ 2500 sq ft

- link to available properties that are a 10 minute walk from the square

- ballpark figures for decent value vs. national market

- if no properties of this type are available, will more be coming online, e.g., parking decks in talks to turn street level into retail

 

I'm sure I'll have more questions, but this gets me started. 

 

Thanks a ton!

Not to be rude, but you should maybe include some detail in your questions as I have no idea what you are talking about. 

My answers in order of your bullets would be:

- are you talking about sales price psf or lease rates? What property type? Office? Retail? Residential? 

- ok? 

- http://www.costar.com/ or http://www.loopnet.com/

- I dont understand your question

- Uh maybe? I dont understand this one either.

 

[alb1no panther]

^ great that helps

- lease rates, specifically

- retail

- are the current rates in the Charlotte market a decent value versus comparable markets, i.e., are small businesses paying a premium for floorspace in Charlotte vs other big cities like Houston?  I understand this question is somewhat subjective, so if there is a resource out there where I could do my own research, that'd be great.

A lot of my scatterbrain-ness comes from not knowing all the right questions or how to ask the ones I do want to ask. So, forgive me for that.  I figured bullet points may make it easier to respond.

The links you provided are great.  Thanks for those.

 

[15895]

I wish I could be help. Jayvee is probably the best to point you in the right direction. 

[DMann]

Your best bet is to contact a Realtor.  They will do the searching for you and satisfy the requirements you have with available property.  The Realtor will be compensated by the Owner, and not you, so no out of pocket money.

Message me if you need more information.

[jwntim]

14 hours ago, alb1no panther said:

^ great that helps

- lease rates, specifically

- retail

- are the current rates in the Charlotte market a decent value versus comparable markets, i.e., are small businesses paying a premium for floorspace in Charlotte vs other big cities like Houston?  I understand this question is somewhat subjective, so if there is a resource out there where I could do my own research, that'd be great.

A lot of my scatterbrain-ness comes from not knowing all the right questions or how to ask the ones I do want to ask. So, forgive me for that.  I figured bullet points may make it easier to respond.

The links you provided are great.  Thanks for those.

 

Got it. Lease rates are obviously very dependent on location, quality of the building and frankly you/your business's creditworthiness. I am not a broker but I would agree that if you are serious you should reach out to tenant rep to help with your search (seeing as you  only need 2,500sf I would recommend reaching out a junior broker at a retail focused shop). If this is more of a thought exercise check loopnet and http://www.siteindexcharlotte.com/ (assuming you dont have access to costar) but, I would say you could assume something in the $30psf NNN range and be fine.

As far as CLT vs peer cities, I would recommend you look into research reports. "Value" is a subjective opinion which you should decide for yourself but research reports will at least give you data points on specific markets. Charlotte isnt covered well especially in the retail space, but here are a few reports that can help you get started: http://www.cushmanwakefield.com/en/research-and-insight/unitedstates/us-retail-snapshot/ and http://cbreemail.com/cv/02544d3035c587665e332bd6f4abec786b964727

 

13 hours ago, AirNostrumMAD said:

I wish I could be help. Jayvee is probably the best to point you in the right direction. 

Just because someone posts alot doesnt mean they are best equipped to answer a question. Just my 2¢

 

 

[alb1no panther]

4 hours ago, DMann said:

Your best bet is to contact a Realtor.  They will do the searching for you and satisfy the requirements you have with available property.  The Realtor will be compensated by the Owner, and not you, so no out of pocket money.

Message me if you need more information.

Yep that was my next step.  I'm just trying to be knowledgeable before I get into the process more.

1 hour ago, jwintim said:

Got it. Lease rates are obviously very dependent on location, quality of the building and frankly you/your business's creditworthiness. I am not a broker but I would agree that if you are serious you should reach out to tenant rep to help with your search (seeing as you  only need 2,500sf I would recommend reaching out a junior broker at a retail focused shop). If this is more of a thought exercise check loopnet and http://www.siteindexcharlotte.com/ (assuming you dont have access to costar) but, I would say you could assume something in the $30psf NNN range and be fine.

As far as CLT vs peer cities, I would recommend you look into research reports. "Value" is a subjective opinion which you should decide for yourself but research reports will at least give you data points on specific markets. Charlotte isnt covered well especially in the retail space, but here are a few reports that can help you get started: http://www.cushmanwakefield.com/en/research-and-insight/unitedstates/us-retail-snapshot/ and http://cbreemail.com/cv/02544d3035c587665e332bd6f4abec786b964727

 

Just because someone posts alot doesnt mean they are best equipped to answer a question. Just my 2¢

 

 

thanks a ton!  this is extremely helpful.