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Clarion Partners, Westbridge Begin Final Phase of  Award-Winning Stockyards Atlanta with 926 Brady

Clarion Partners, LLC, and Westbridge have started 926 Brady, the adaptive reuse of the final undeveloped building in the core West Midtown submarket.  The 1930s warehouse is the last remaining piece of the industrial complex that made up the Miller Union Stockyards. Redeveloped by Westbridge in 2017, the urban reuse... The post Clarion Partners, Westbridge Begin Final Phase of  Award-Winning Stockyards Atlanta with 926 Brady appeared first on Real Estate Weekly. Clarion Partners, LLC, and Westbridge have started 926 Brady, the adaptive reuse of the final undeveloped building in the core West Midtown submarket.  The 1930s warehouse is the last remaining piece of the industrial complex that made up the Miller Union Stockyards. Redeveloped by Westbridge in 2017, the urban reuse project has attracted major companies while becoming a popular dining and entertainment destination.  926 Brady will have more than 36,000 square feet of large-format creative office space with a second-floor addition featuring an outdoor rooftop terrace with skyline views. The project is targeting creative companies interested in retaining and attracting talent in a new-to-market space that reflects the character of the historic neighborhood. “We are thrilled to start work on the final piece of this three-acre campus steeped in 120 years of Atlanta history,” said Joshua Mandelberger, Vice President, Asset Management Clarion Partners. “926 Brady will complete the original vision of Stockyards Atlanta and tie into West Midtown’s rapidly evolving urban core with something truly unique in the market as the area transitions to mid-rise and high-rise new construction projects.”  926 Brady is on the corner of 10th Street and Brady Avenue. Dating back to the early 1900s, it served as a stockyard and meatpacking plant for Atlanta’s growing population. Several of the historic buildings have been updated and adapted, making Stockyards one of Atlanta’s premier creative communities.  “I am excited to work with Clarion on the final phase of one of our signature projects in West Midtown,” said Chris Faussemagne, Westbridge. “It continues the legacy of West Midtown and Stockyards Atlanta, and the ongoing transformation of this historic neighborhood.”  The regional headquarters of energy drink giant Red Bull is in Stockyards Atlanta, as is global manufacturer Mannington Commercial and advertising and marketing firm Fitzco. Painted Duck, a high-end duckpin bowling alley and game bar; Baffi Atlanta, a casual, Italian-inspired restaurant from culinary legend Jonathan Waxman and neighborhood gathering spot Nick’s Westside anchor the highly-curated retail destinations. The Urban Land Institute (ULI) honored Stockyards Atlanta for Excellence in Office/Commercial Mixed-Use Development. Architectural firm ai3 is the architect for 926 Brady, and Gay Construction Company is the general contractor. The Transwestern team of Zach Wooten and Stephen Clifton is managing leasing. Construction is currently underway, with an estimated delivery in the second quarter of 2023.   The post Clarion Partners, Westbridge Begin Final Phase of  Award-Winning Stockyards Atlanta with 926 Brady appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLY4 hr. 49 min. ago Related News

Marcus & Millichap Capital Corporation Arranges $3 Million Financing for Two Properties in Connecticut and Florida

Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged $3 million in financing for two properties a mixed-use property at 3 Pearl Street in Mystic, Connecticut, and a daycare center at 1501 North Nova Road in Holly Hill, Florida. The... The post Marcus & Millichap Capital Corporation Arranges $3 Million Financing for Two Properties in Connecticut and Florida appeared first on Real Estate Weekly. Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged $3 million in financing for two properties a mixed-use property at 3 Pearl Street in Mystic, Connecticut, and a daycare center at 1501 North Nova Road in Holly Hill, Florida. The financings were exclusively secured by MMCC’s Robert Noeldechen, vice president, based inNew Haven, Connecticut. “We were able to secure competitive financing terms for properties in high-growth suburban markets that offer consistent tenant bases,” said Noeldechen. “Residential and Day Care Centers continue to be in demand from Clients. As schools and businesses return to their campuses and occupancy rates return to normal levels parents are placing children in back in daycare as they no longer work from home.” The $1.54 million loan for the mixed-use property has an interest rate of 4 percent and an LTV of 80 percent. The two-story, 5,284 square foot property has seven multifamily units and two commercial spaces. It was built in 1843 and has been renovated throughout the past 10 years. The property is located in the historic Seaport Village and has upscale residential units within walking distance of local attractions, including the Mystic Seaport & Museum. The $1.4 million loan has a 10-year term and a 5-year loan with an additional 5-year term and has an interest rate of 3.8 percent and an LTV of 75 percent. Kid City USA Enterprises, a national provider of early childhood education, occupies the 8,150 square foot space. The property is located in the Holly Hill suburb of Dayton Beach. The post Marcus & Millichap Capital Corporation Arranges $3 Million Financing for Two Properties in Connecticut and Florida appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLY5 hr. 4 min. ago Related News

Thoughts on Leadership: Leading Like a Dog

For today’s post, I want to talk about dogs. Well, people really, but first, let’s talk about dogs. According to the latest survey from the American Pet Products Association, pet ownership in the U.S. rose to an all-time high—70% of U.S. households—in 2020. Why? Because pets are the perfect companions. No matter if we’ve been… The post Thoughts on Leadership: Leading Like a Dog appeared first on RISMedia. For today’s post, I want to talk about dogs. Well, people really, but first, let’s talk about dogs. According to the latest survey from the American Pet Products Association, pet ownership in the U.S. rose to an all-time high—70% of U.S. households—in 2020. Why? Because pets are the perfect companions. No matter if we’ve been away from them for five minutes, five hours or five days, they’re exuberantly excited to greet us. But for me, it’s not just pets, it’s dogs that are the greatest pals we could ask for. One of the best feelings is coming home from a trip, pulling up to the front door in my Uber, and seeing my dog, Kona, through the window, wagging her tail as I walk up to the house and step inside. It makes you feel so good, doesn’t it? You just feel so loved by this animal in front of you that your heart could almost burst from the joy of it all. That kind of enthusiasm got me thinking about one of my mentors, Bob Moles, who has the same ability to make you feel welcomed and happy every time he sees you. It’s why I believe one of the rarest but most incredible qualities of a leader is their ability to be like a dog. I met Bob when I was in the third grade (we played little league together and his dad was our coach), so it’s remarkable that we ended up working together and that he played a defining role in my real estate career. They say you are the sum of everyone you meet, and I have truly been blessed to have met Bob when I did because our fortuitous friendship shaped the entirety of my professional life. Bob was one of my earliest mentors and he gave me a great deal of confidence in my career. As a coach and a mentor, he had confidence in me, and we all know when your coach believes in you unequivocally, you tend to believe in yourself, too. Let’s travel back to 1988 and recall a story that perfectly encapsulates Bob’s influence on my life. At the time, I had just become manager of a Contempo Realty office—Bob was president of Contempo Realty and his father was the chairman. I was a hard-charging manager, making all sorts of changes that I felt would have a positive impact on the culture, productivity, and profitability of the office. I got a new copy machine. I extended the office hours and announced the office would be open on Saturdays and Sundays, with a receptionist ready to greet prospective clients. I changed the way we were answering the phone. I changed the way we greeted people. I required attendance at office meetings. I established a dress code for the gentlemen to wear a tie and crisp, white shirts. Mediocrity or stagnation was not tolerated. Excellence was expected. And while the changes were created with improving the office environment and experience in mind, change can be a tricky thing. Most people don’t like it. As you might suspect, the office was up in arms about this new manager who was making all these changes to how things used to be. The office was so upset about the changes, they all got together and arranged a lunch with Bob Moles to explain their agitation with my new style of management. After the lunch was over, I went to Bob and asked him how it went. He said, “Well, they had some issues with your management style.” I replied: “So, what should I do?” Bob responded, “I don’t care if you need to change out every single agent in that office. You are the leader and I trust you’ll do a great job.” It was that kind of support that gave me the confidence I needed to know my decisions were solid. If a leader like Bob believed in me, I knew I could believe in myself. In fact, if I was ever having a tough day or a problem I couldn’t solve, I’d give Bob a call and immediately that problem seemed fixable or that tough day got brighter. It reminded me about what I later learned from Og Mandino, author of the bestselling book, The Greatest Salesman in the World. Og said pain is like having a pebble in your shoe; it seems so harsh at the time, but you are surprised when you remove your shoe and find only a grain of sand. When we sold Contempo Realty and Bob became the president of Century 21, I stayed on as the president of Contempo. I called him every single day for the next seven years at 6:30 in the morning to get his advice. His counsel was that important to me and my leadership journey. I can still remember we’d have these monthly all-company meetings at Contempo and whenever I came into the room, Bob would be waiting to shake my hand and greet me like I was the only person there. I went on to observe him do the very same thing to every team member who joined the meeting. It made them feel special, the kind of special you experience when you walk through the door and are greeted by your beloved dog. The kind of special I feel every time I step out of the car and see Kona’s tail go crazy at the very sight of me. It’s why I say, a leader who can have that dog-like enthusiasm is a special kind of leader to admire and revere. Bill Clinton was famous for possessing this kind of charisma. In a 2014 article, Fast Company,reporter Stephanie Vozza noted that Bill Clinton has “legendary focus and can make anyone feel like the most important person in the room.” Clinton’s political arch-nemesis, Newt Gingrich, even commented on this distinct ability, describing the former President as “one of the most charming and effective people I’ve ever negotiated with.” So, what’s the message? On the opposite end of this happiness spectrum, when you ignore someone, or when you make them feel small, it’s one of the most awful emotions anyone can experience. But if you can uplift them—if, like Bob Moles, Bill Clinton and my sweet dog, Kona, you can focus on how happy you are just to see them step in your direction—then you’ve got a truly special ability to connect with your team in a way not many people can. To this day, Bob is one of the few people who regularly gets together with his high school friends; and if you stop by his house, he always makes you feel welcome. It’s not often I say leadership is for the dogs but in this one instance, it absolutely is. P.S. If you’re reading this on Friday, it’s Bob Moles’ birthday. Happy birthday, Bob, and thanks for inspiring me all these years. This article is adapted from Blefari’s weekly, company-wide “Thoughts on Leadership” column from HomeServices of America. The post Thoughts on Leadership: Leading Like a Dog appeared first on RISMedia......»»

Category: realestateSource: RISMEDIA20 hr. 5 min. ago Related News

Appealing to a Gen X Buyer

A quick glance at the NAR’s 2022 Generational Trends Report will show that millennials and baby boomers in numbers represent the largest percentage of buyers and sellers, respectively. These two groups are often the focus of marketers and researchers looking to best articulate the homebuyer profile. However, the power and influence of Gen X is… The post Appealing to a Gen X Buyer appeared first on RISMedia. A quick glance at the NAR’s 2022 Generational Trends Report will show that millennials and baby boomers in numbers represent the largest percentage of buyers and sellers, respectively. These two groups are often the focus of marketers and researchers looking to best articulate the homebuyer profile. However, the power and influence of Gen X is not to be understated. Used to describe the generation born between 1965 and 1980 (according to most definitions), this demographic wedged between boomers and millennials is referenced by several unfavorable titles: the forgotten generation, the “latchkey” generation, and the less-common moniker, the “13ers,” referring to the 13th generation born after the American Revolution. This generational middle-child has seen and experienced a lot. Though Gen X was saddled by debt as a result of the economic downturns of the last few decades, this group is gaining a noted foothold in the performance aspects of today’s market. According to the NAR, Gen X and younger boomers delayed their home purchase the longest (five years) due to debt. However, Gen X was the only generation to rebound and recover the wealth lost during the housing crash. Gen X is viewing the most homes, purchasing the most expensive properties and are overall very smart about their home-purchasing decisions. Here are some fast facts about Gen X that every real estate agent should freshen up on before taking them on as a potential client. Peak earning years According to the NAR, Gen X represented the highest earners and the highest shares of married couples. The median income for this cohort was $125,000 as of 2020, compared to older millennials at $110,300. With this added income, Gen X is buying the most expensive and the second-largest homes, averaging $320,000 and 2,300 square feet, respectively. Since Gen X is also categorized as the highest shares of sellers, agents could not only reap the benefits of representing a buyer with a high-spending cap, but foreseeably make two deals with this client in selling off their first-time homes for more expansive properties. Multi-generational households The majority of Gen X buyers ages 42-56 purchased multi-generational homes. Not only is this generation taking care of their aging parents, but they also represent the largest demographic with children/relatives over the age of 18 who never left home. This makes them extremely cost-conscious as a result. This family-focused group makes for a strong and reliable clientele. Because this generation prefers function over form, agents should pitch a homes’ functional spaces—such as having multiple bedrooms on the first floor, a universal design scheme and access to family-oriented public spaces. Pitching master-planned communities with added amenities might be an avenue to consider. Most racially diverse Though this group is much smaller in numbers than their millennial and boomer counterparts, they represent the most racially and ethnically diverse buyers in the market today. According to NAR, 23% of Gen X buyers identify as something other than White/Caucasian. A diverse clientele has its own set of needs and market challenges. It is important for agents to read up on diversity reports and statistics—such as the State of Housing In Black America annual data reports, Freddie Mac’s trends, needs and solutions for minority classes and other socially responsible efforts in order to educate themselves in understanding and navigating barriers to homeownership. Informed buyers Older Gen Xers were more likely to interview up to three agents before committing to one. This fiercely independent, super cautious generation tends to see every major decision as a long-term investment, most preferring to upscale to larger homes to accommodate the growing needs and changes of their families as an economically viable solution. For most of this generation, they’ve been around the real estate rodeo at least one other time before. Therefore, Gen X clients tend to not need a ton of hand-holding, so you’ll be certain this client understands all the ins and outs of a home purchase before making their next one. Expect a less-labor intensive process with Gen X clients and prepare to give them hard-market facts—which is highly important to this versed group of buyers. Face-forward Though they are not the social-media generation that came after them, they are still tech-savvy. Which is why a polished, detailed website is crucial to drawing in clients of this demographic. This group prefers face-to-face interaction—in the dual sense that they are most likely to attend open houses and prefer to negotiate in person, but this generation also is highly active on Facebook. Materialize more clients in this group by pitching neighborhood perks, how to grow their money and DIY-home improvement ideas on your social media posts. Prioritize staging services so when a Gen X client does want to attend an open house, they can get the full-picture. The post Appealing to a Gen X Buyer appeared first on RISMedia......»»

Category: realestateSource: RISMEDIA20 hr. 5 min. ago Related News

Denholtz Properties Acquires 53,811-Square-Foot Charlotte, N.C. Industrial Building

Denholtz Properties, a leading real estate development and investment company, announces the acquisition of a 53,811-square-foot industrial building at 9201 Forsyth Park Drive in Charlotte, N.C. The transaction is the first acquisition for Denholtz Properties’ recently launched joint venture which plans to acquire and develop multi-tenant industrial properties with a... The post Denholtz Properties Acquires 53,811-Square-Foot Charlotte, N.C. Industrial Building appeared first on Real Estate Weekly. Denholtz Properties, a leading real estate development and investment company, announces the acquisition of a 53,811-square-foot industrial building at 9201 Forsyth Park Drive in Charlotte, N.C. The transaction is the first acquisition for Denholtz Properties’ recently launched joint venture which plans to acquire and develop multi-tenant industrial properties with a total value of over $1 billion. 9201 Forsyth Park Drive is strategically positioned in the Charlotte Southwest area, the largest industrial submarket in Charlotte. The property boasts superb access to major transportation arteries including SR-Westinghouse Boulevard and Interstates 77 and 485 as well as Interstate 85 – the industrial backbone of the Southeast that connects Charlotte to Atlanta and Raleigh-Durham. The single-story building also features full-building air-conditioning, heavy power, seven loading docks, four grade-level rollup doors and 18’ clear ceilings. Currently, the building is fully occupied by three tenants spanning a diverse mix of industries. “With a strong location in one of the nation’s hottest industrial markets, endless flexibility and a quality tenant base, 9201 Forsyth Park Drive fits the asset type we sought to acquire with the launch of our joint venture earlier this year,” said Stephen Cassidy, President of Denholtz Properties. “We are excited to expand our industrial portfolio in the Charlotte market and look forward to adding similar assets in the months to come.” The Charlotte MSA continues to be among the nation’s premier real estate markets seeing a 50.8 percent increase in population since 2000 and a projected four percent growth rate over the next three years. In addition to robust population growth, the regional economy is characterized by a talented labor pool, a strong manufacturing and distribution market and a rapidly emerging presence in the energy industry. It is also currently home to several large corporate headquarters for companies such as Bank of America, Lowe’s, Honeywell, Duke Energy, Nucor, Truist, Sonic Automotive and Brighthouse Financial. To stay connected with Denholtz Properties and for updates on the latest transactions and news follow Denholtz on Facebook, Twitter, Instagram and LinkedIn. The post Denholtz Properties Acquires 53,811-Square-Foot Charlotte, N.C. Industrial Building appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYMay 21st, 2022Related News

High-End Clothing Brand Faherty Signs Uptown Space

Newmark Retail announces it has completed a 4,400-square-foot lease for upscale clothing brand Faherty at 1175 Madison Avenue on Manhattan’s Upper East Side. Newmark Vice Chairman Ariel Schuster and Associate Director Jason Wecker represented the building’s coop-ownership board in the transaction. Faherty was represented by Michael Leifer and Isabel Solmonson Cohen of Runyon Group,... The post High-End Clothing Brand Faherty Signs Uptown Space appeared first on Real Estate Weekly. Newmark Retail announces it has completed a 4,400-square-foot lease for upscale clothing brand Faherty at 1175 Madison Avenue on Manhattan’s Upper East Side. Newmark Vice Chairman Ariel Schuster and Associate Director Jason Wecker represented the building’s coop-ownership board in the transaction. Faherty was represented by Michael Leifer and Isabel Solmonson Cohen of Runyon Group, with Trent Merrill and Sarah Schutter, Principals of Triple R Group.   “The signing of Faherty to the Upper East Side continues the trend we’ve been witnessing where retailers are looking to locate closer to where people live due to the vibrant foot traffic and activated streetscapes,” said Wecker. “We believe a stylish, younger brand like Faherty will do great in this hot submarket with its ideal corner location that directly targets their primary customer base.” The boutique retail space will house the brand’s new flagship location at the northeast corner of East 86th Street. The space—formerly occupied by Williams Sonoma for approximately 30 years—offers 135 feet of wraparound frontage on East 86th Street and Madison Avenue. The new lease includes 2,400 square feet of ground-level space and 2,000 square feet of basement space. “We’re excited to be growing our presence in NYC! We love this city, and the Upper East Side is such a great family neighborhood,” said Alex Faherty, co-founder of Faherty. “This iconic corner with its robust foot traffic and ample frontage will be an amazing flagship location.”  1175 Madison Avenue is located at the epicenter of a dense, affluent residential neighborhood just two blocks from the 4, 5 and 6 subway lines at East 86th and Lexington Avenue. The area is undergoing a renewal of its retail offerings, with new tenants opening in the neighborhood to meet growing residential demand. Neighborhood tenants include Butterfield Market, Peloton, Roller Rabbit, James Perse, Madewell, LoveShackFancy and Zadig & Voltaire. The post High-End Clothing Brand Faherty Signs Uptown Space appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYMay 21st, 2022Related News

Ariel Property Advisors closes $13 million in sales across Three Properties in New York City

Ariel Property Advisors has arranged the sale of three propertiestotaling $12.9 million located in Brooklyn and Northern Manhattan. ● A vacant two-story commercial building comprising three commercial units spanning11,009 SF at 222-226 West 145th Street sold for $5.05 million, or $460/SF. The propertyoffers 14,970 SF of air rights and 65... The post Ariel Property Advisors closes $13 million in sales across Three Properties in New York City appeared first on Real Estate Weekly. Ariel Property Advisors has arranged the sale of three propertiestotaling $12.9 million located in Brooklyn and Northern Manhattan. ● A vacant two-story commercial building comprising three commercial units spanning11,009 SF at 222-226 West 145th Street sold for $5.05 million, or $460/SF. The propertyoffers 14,970 SF of air rights and 65 feet of frontage along a well-traveled commercialcorridor on the south side of West 145th Street between Adam Clayton Powell Jr. andFrederick Douglass Boulevards in Central Harlem. Situated within an Opportunity Zone,222-226 West 145 th Street is near City College of New York, Columbia University’sManhattanville campus, Jackie Robinson Park and other local green and outdoor spaces.The transaction was brokered by an Ariel team including Jason M. Gold, Director,Investment Sales; Michael A. Tortorici, Founding Partner; and James Nestor, AssociateDirector, Investment Sales. ● An 18,150 SF, four-story, 21-unit mixed-use building at 649 Argyle Road in the DitmasPark neighborhood of Brooklyn sold for $4.75 million. Located on the northeast corner ofArgyle Road and Foster Avenue, the property consists of 12 rent-stabilized units, sevenfree market residential units and two commercial units. The area is well-served by publictransportation with easy access to the B and Q subway lines and nearby bus routes.The transaction was brokered by an Ariel team including Lawrence Sarn, Director,Investment Sales; Victor Sozio, Founding Partner; and Shimon Shkury, President andFounder. ● A vacant three-story, 7,638 SF warehouse/flex office building at 11 Herkimer Place inthe Bedford-Stuyvesant neighborhood of Brooklyn sold for $3.1 million, or $406/SF. Thetransaction represents the highest price per square foot for an office building in theBedford-Stuyvesant area since 2018. The elevator building consists of two floors of newlyconstructed office space with terraces and a roof deck above an existing renovatedgarage warehouse space. Located off Atlantic Avenue between Bedford and NostrandAvenues, 11 Herkimer Place boasts a brick façade and includes windows roughly ninefeet tall to allow natural light into the 3,600 SF open office space.The transaction was brokered by an Ariel team including Dov Chein, Director, InvestmentSales, and Sean R. Kelly, Partner. The post Ariel Property Advisors closes $13 million in sales across Three Properties in New York City appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYMay 21st, 2022Related News

Onyx Equities Debuts Head-Turning Renovation at Gateway Center’s Grand Opening in Downtown Newark

On Thursday, May 19th, Onyx Equities was joined by Newark Mayor Ras Baraka and other Newark elected and civic leaders to unveil the new two-story “Jewel Box” entryway into Gateway Center, downtown Newark’s cornerstone redevelopment project that links three newly reimagined Class A office towers through a massive 100,000 square... The post Onyx Equities Debuts Head-Turning Renovation at Gateway Center’s Grand Opening in Downtown Newark appeared first on Real Estate Weekly. Newark Mayor Ras Baraka joined John Saraceno and Jon Schultz, Co-Founders and Managing Partners for Onyx Equities to reveal the Jewel Box entrance to Gateway Center.  The new two-story, glass enclosed entrance is part of a $60 million renovation that will change the way that commuters, visitors and residents interact with the building and the surrounding neighborhood.From Left to Right: John Saraceno, Mayor Ras Baraka, Jon Schultz. On Thursday, May 19th, Onyx Equities was joined by Newark Mayor Ras Baraka and other Newark elected and civic leaders to unveil the new two-story “Jewel Box” entryway into Gateway Center, downtown Newark’s cornerstone redevelopment project that links three newly reimagined Class A office towers through a massive 100,000 square foot retail/dining concourse known as The Junction, opening later this year. The event celebrates a pinnacle moment in Gateway’s transformation – one of the largest in New Jersey’s history, and Newark’s revitalization as an international center for commerce, culture and cuisine. “The new Jewel Box entryway and the larger Gateway redevelopment project are a testament to what New Jerseyans have always known: there is no better place in the world to live, work, and play,” said Governor Phil Murphy. “Visitors, employees, and families will all benefit from this game-changing development, which showcases some of the best dining options and recreational activities the Garden State has to offer. Now more than ever, Newark remains an internationally renowned commercial and cultural hub.” Located along Raymond Plaza West across from Newark Penn Station, the “Jewel Box” was designed as a welcoming beacon for all Newark visitors, employees, and residents, and will soon serve as the main entrance into The Junction, which will deliver an exciting combination of food options from Newark’s local culinary talent and well-known restauranteurs from across the Hudson River in late 2022. Recently announced restaurant tenants include Serafina, Mökbar, Brooklyn Dumpling Shop, Fresh & Co, Greek from Greece Bakery & Café, Farinella, 375˚ Chicken & Fries, Chip City Cookies, The Brookdale, among other notables – many of which were highlighted as part of the Grand Opening celebration. Additional fitness, educational, and wellness retailers will round out a total lifestyle program. “The Jewel Box is a state-of-the-art entrance to the Gateway Center, one of our city’s signature complexes,” Newark Mayor Ras J. Baraka said. “Adjoined with The Junction that opens later this year, it will showcase our excellence, hospitality, and diverse array of food to Newark residents, workforce, and visitors. “We are thankful to Onyx Equities for transforming such an important center in the heart of our downtown.” “We are opening The Jewel Box at a really exciting time when people are coming back to the office,” said Jonathan Schultz, Co-Founder and Principal at Onyx Equities. “This was not just about improving the pedestrian and employee experience within the complex; it is part of a larger overall reinterpretation of what Newark can be for businesses and residents looking for a thriving urban community.” “Our design intent was to activate the streetscape and create a welcoming connection to the community. Designed in the 1970s, Gateway was deliberately inward-facing with little connection to the life of the city, but Onyx’s new vision re-engages the community,” said Roger Smith, Design Director. “With street level local retailers, a landscaped public plaza and the two-story entrance hall across from Newark Penn Station, Gateway will become Newark’s new front door.” Comprised of some of the tallest buildings in the city, the transformation of the 2.3 million square foot, four-building Gateway Center complex is nothing short of spectacular. Inside and out, over $50 Million in capital improvements bring the vision of world-renowned architect Gensler to life, introducing a new exterior façade, modernized lobbies and common areas, tech-forward collaborative spaces, generous and flexible office build-out configurations, state-of-the-art post-COVID sanitation systems, a newly renovated parking garage, and a best-in-class retail experience that anticipates over 75,000 daily visitors once complete thanks to direct skybridge connectivity to Newark Penn Station, a Doubletree by Hilton, One Riverfront Center, Panasonic’s Corporate Headquarters, and several new residential developments under construction. “Gateway is on course to be New Jersey’s premier office and dining destination – the first of its kind in our state,” said Matthew P. Flath, vice president of asset management at Onyx Equities. “We know we’re hitting the right note because we’re attracting world-renowned restaurants like Serafina and celebrity chefs like Esther Choi of Mökbar, as well our top-tier regional and local culinary talent.” Appealing to a wide audience, the development also plays a major day-to-day role in the immediate area where there is a growing population of 300,000, a daytime workforce population of 200,000 and 58,000 riders who board at Newark Penn Station daily. In addition, more than 60,000 vehicles pass The Junction at Gateway Center along McCarter Highway each day. Prudential Center, home of the New Jersey Devils and Seton Hall Pirates Basketball, is directly across the street and four major universities with over 50,000 students are nearby. To learn more about Gateway Center, visit GatewayNJ.com. For retail leasing inquiries at The Junction, contact Jason Pierson and Ryan Starkman of Pierson Commercial Real Estate at (927) 823-4800. For information about Class A office opportunities within 1, 2 & 4 Gateway Center, contact Tim Greiner and Blake Goodman of JLL at (732) 707-6900 x5. The post Onyx Equities Debuts Head-Turning Renovation at Gateway Center’s Grand Opening in Downtown Newark appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYMay 21st, 2022Related News

Talonvest Secures $109.7 Million Loan for 10-Property Portfolio

Talonvest Capital, Inc. and its client Reliant Real Estate Management along with their joint venture partner Harrison Street Real Estate are pleased to announce the funding of a $109,700,000 bridge loan secured by a 10-property self storage portfolio. The properties, located in GA, SC, and CO, have a combined 876,021... The post Talonvest Secures $109.7 Million Loan for 10-Property Portfolio appeared first on Real Estate Weekly. Talonvest Capital, Inc. and its client Reliant Real Estate Management along with their joint venture partner Harrison Street Real Estate are pleased to announce the funding of a $109,700,000 bridge loan secured by a 10-property self storage portfolio. The properties, located in GA, SC, and CO, have a combined 876,021 of existing net rentable square feet plus 811 parking spaces. The loan will also fund a total of 110,275 square feet of expansion at five of the facilities. The non-recourse floating rate loan, which featured a four-year term with a one-year extension option, was funded by a large North American bank. Additional financing benefits negotiated include interest-only payments for the full initial term, no prepayment penalty, collateral release provisions, and step-down pricing based on performance hurdles. Todd Allen, Managing Principal of Reliant, commented, “Talonvest was instrumental in providing, negotiating, and delivering attractive senior debt. The team’s tenacity to steward their client’s objectives across the finish line was impressive. We look forward to a continued profitable relationship with both the broker and lender.” Talonvest Principal Eric Snyder commented “We were honored to be entrusted with this assignment, advise, and ultimately deliver a superior capital solution to the experienced professionals at Reliant and Harrison Street.” The Talonvest team responsible for this assignment included Eric Snyder, Kim Bishop, Jim Davies, Mason Brusseau, and Thalia Tovar. The post Talonvest Secures $109.7 Million Loan for 10-Property Portfolio appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYMay 21st, 2022Related News

$300 Million in Total Investment Represented at Paterson’s Great Falls Neighborhood Summit

The New Jersey Community Development Corporation is hosting a neighborhood summit on Saturday, May 21st at 9:30am to highlight the roughly $300 million in ongoing and future developments in the Great Falls neighborhood of Paterson. The 10 developments and restoration projects to be presented will transform a historic corridor that... The post $300 Million in Total Investment Represented at Paterson’s Great Falls Neighborhood Summit appeared first on Real Estate Weekly. The New Jersey Community Development Corporation is hosting a neighborhood summit on Saturday, May 21st at 9:30am to highlight the roughly $300 million in ongoing and future developments in the Great Falls neighborhood of Paterson. The 10 developments and restoration projects to be presented will transform a historic corridor that is home to both the Great Falls National Historic Park and a host of vacant, yet promising properties. Along with Procida Funding and Asset Realty’s future Great Falls Lofts, restoration projects of note include the $100 million redevelopment of Hinchliffe Stadium – one of the last Negro Baseball League stadiums in the United States – as well as over $100 million of public projects including a new Alexander Hamilton Visitor Center, Youth Arts Center, and Great Falls Community Center in addition to the replacement of the Great Falls Footbridge and the restoration of hilltop Vista Park whose entrance abuts the Great Falls Lofts. “We saw the opportunity in Paterson more than 10 years ago and have financed over $75 million in development projects over that time – but even we are stunned by the velocity and scope of new investment, with so much focused on the area overlooking the falls,” says Billy Procida, CEO of Procida Funding and developer of the $40 million Great Falls Lofts project. Representatives from developers and investors from the below projects will make short presentations to the community and engage in questions and answers from residents. The projects, representing a total of $300 million investment into the area, are below: Hinchliffe Stadium Spruce Street Streetscape Project The Great Lawn Project The New Visitors Center Argus Mill Redevelopment New Youth Arts Center Great Falls Community Center Replacement of Great Falls Footbridge Vistas Park Great Falls Lofts Attendees will have the chance to meet with developers to learn more about the future vision of the Great Falls neighborhood, a large aspect of which includes embracing the storied history of the community. “When we learned of Paterson’s commitment to restoring the rich history of the Great Falls neighborhood, we jumped at the opportunity to be involved,” says Procida. “The entire area is gearing up for a major resurgence – all you need to do is add up the numbers, and that $300 million number doesn’t lie. Paterson is setting a prime example for cities in the tristate area.” The Great Falls Neighborhood Summit will be held on Saturday, May 21 st at the Great Falls Youth Center, 52 Front Street, from 9:30am-12 noon. For more information on location details please contact the NJ Community Development Corporation at 973-413-1630 or nhc@njcdc.org. The post $300 Million in Total Investment Represented at Paterson’s Great Falls Neighborhood Summit appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYMay 21st, 2022Related News

Building Relationships, Making Clients for Life

Shirley Morrison Broker/Owner CENTURY 21® Coastal Advantage Jacksonville, North Carolina www.c21coastalnc.com Region served: Southeastern North Carolina Years in real estate: 30-plus Number of offices: 3 Number of agents: 60 You recently opened your own CENTURY 21® brokerage after more than 30 years with the brand. Tell us about the experience.  I felt like I was… The post Building Relationships, Making Clients for Life appeared first on RISMedia. Shirley Morrison Broker/Owner CENTURY 21® Coastal Advantage Jacksonville, North Carolina www.c21coastalnc.com Region served: Southeastern North Carolina Years in real estate: 30-plus Number of offices: 3 Number of agents: 60 You recently opened your own CENTURY 21® brokerage after more than 30 years with the brand. Tell us about the experience.  I felt like I was wrapped in a coat of armor. They made sure a representative came here to ensure that the transition was smooth. We did this on January 1 and had a transition period, but they are still working behind the scenes, ensuring that everything runs smoothly for my agents and me. They literally had people fly down here to help retrain agents on the tools and systems. It’s just been phenomenal. What traits do you look for in agents, and how do you attract top talent to your team?  I believe that it’s more than just a paycheck. We’re all in this to make a living, but I believe in building relationships and making clients for life for both my agents and myself. I’m not looking for someone who is just trying to see if this is the next patch of green grass. I want someone who wants to grow their business, and I want to help them do just that. What do you think today’s agents find most valuable when considering which brokerage to join, and how do you ensure your office provides that value?  With the agents I select, I like to see that they value having a team behind them that is invested in helping them succeed and is here to catch them when they fall. You need a support team behind you, and many agents look for training, as well as a mentor or business coach, to guide them along their journey. That’s exactly what we provide. I have systems in place, business planning and scheduled training for new agents that’s not just thrown together. It’s a whole system of sessions where they are actually learning and working simultaneously, implementing what they learned in real-time. How do you and your agents approach the client experience?  My motto has always been, “building relationships, making clients for life,” and I love that the rest of the world truly sees that now—not that they didn’t before. At the end of the day, we have systems to ensure that it’s not just about the transaction. We want to continue the relationship. People want to work with people they like a lot, and usually, if you become friends with those people, they continue to refer others to you. We have schedules in place to touch our sphere on a regular basis. I’ve coined it the “Power of Four”—four quarters in the year, four reasons to touch base with them and four databases. What strategies have you implemented to snag listings during this time of limited inventory?   It boils down to consistency and persistence, focusing every day on prospecting for people who need to sell a house. You have to talk to people every single day. You don’t just sit back and wait for them to come to you. That means networking and modern-day prospecting, which is texting, phone calls, door-knocking and canvassing the neighborhood. It’s all of the above and, of course, social media plays a role in all of this. It’s working your sphere, asking for the business, staying in front of them and ensuring that you’re doing it intentionally. For more information, visit www.century21.com. The post Building Relationships, Making Clients for Life appeared first on RISMedia......»»

Category: realestateSource: RISMEDIAMay 21st, 2022Related News

Oxford Properties forms partnership with Norges at Berlin’s iconic Sony Center in $717 million deal

Oxford Properties Group (“Oxford”), a leading global real estate investor, asset manager and business builder, announces the formation of a 50:50 joint venture with Norges Bank Investment Management (“NBIM”) at the iconic Sony Center in Berlin. NBIM will pay US$717 million (€677 million) to acquire a 50% ownership interest in... The post Oxford Properties forms partnership with Norges at Berlin’s iconic Sony Center in $717 million deal appeared first on Real Estate Weekly. Oxford Properties Group (“Oxford”), a leading global real estate investor, asset manager and business builder, announces the formation of a 50:50 joint venture with Norges Bank Investment Management (“NBIM”) at the iconic Sony Center in Berlin. NBIM will pay US$717 million (€677 million) to acquire a 50% ownership interest in the Sony Center with Oxford selling 44.9% of its existing stake and Madison International Realty disposing its entire 5.1% interest.  Oxford will retain a 50% interest in the property and act as asset manager on behalf of the new joint venture. The closing of the transaction, which values the property at US$1.43 billion (€1.35 billion), is subject to regulatory approval. Comprising 1.22 million sq ft of prime office, retail and residential space in the heart of Berlin, the Sony Center stands as a modern landmark and attracts more than 7 million visitors annually. An example of the depth of demand for well let, high-quality office product among global institutional investors, the deal sees Oxford crystallise value created via its asset management activities since acquiring the property in 2017.  In Q4 2021, Oxford announced a US$212 million (€200 million) master-planned redevelopment of the Sony Center to futureproof the campus with leading-edge design and sustainability features. The transformative vision for the site has been supported by strong leasing momentum. In April, restaurant, bar and lounge hotspot Frederick’s opened after the leasing of Sony Center’s flagship restaurant and events space to Rhubarb Hospitality. Anchor office occupier Deutsche Bahn has also signed a long-term renewal. Abby Shapiro, Senior Vice President & Head of Office, Retail and Life Sciences, Europe at Oxford Properties, commented: “Today’s announcement further expands our relationship with NBIM, a highly strategic and like-minded partner, which shares our long-term conviction in Berlin. Furthermore, it demonstrates the belief in our investment thesis that sustainable and wellness-focused office buildings in prime locations, serviced by superb food and retail amenities, will continue to outperform. “Having realized significant value, we will reinvest back into Sony Centre to improve the customer experience. We continue to have a favourable long-term view in Germany and are actively looking to grow our business in the country, particularly in the German logistics market.”  As part of its planned growth in Germany, earlier this year Oxford acquired an 1.53 million sq ft urban logistics portfolio of 10 assets located across six German states.  Diana Shieh, Co-Head of Portfolio and Asset Management, Managing Director for Madison International Realty, commented: “Sony Center is one of the most recognizable assets in Berlin, and Madison has experienced a transformation of the estate throughout its long-time partnership with Oxford Properties since 2017. Having executed our business plan, which included the creation of a masterplan for the future, we are pleased to crystallize our stake through this recapitalization and look forward to seeing this campus reach its full potential over the coming years.” Jay Drexler, Vice President Office, Retail & Life Science Europe, at Oxford Properties, added: “Our partnership with NBIM serves as further validation of our ambitious master-planned vision for the Sony Center. It will bring better quality, more sustainable and flexible workspaces, coupled with new amenities that include safe and secure bike parking to promote a healthy commute, fitness facilities and services dedicated to well-being. We also continue to strengthen the cultural and culinary offering at Sony Centre through public art activations, community partnerships and a wide-spectrum of food and beverage concepts at a variety of price points to ensure that all can share in the experience.” Oxford’s US$212 million (€200 million) redevelopment plan aims to place a greater focus on human-centric aspects of the campus including optimising workplaces for health and wellbeing, world-class retail and future-focused amenities. This will be complemented by an annual programme of events in sport, culture and entertainment that will be accessible not only for the Sony Center office community, but also for Berliners and visitors. Major construction activity has begun, with the majority of the redevelopment expected to complete by the end of 2023.   In total, around 538,000 sq ft of office space will be upgraded, becoming workplaces of the future. While the expanded food and beverage offering will feature Berlin providers as well as global restaurateurs. A new three-floor food hall from London food incubator KERB will showcase and develop the very best of the Berlin independent food and drink scene, further underlining the Sony Center’s reputation as a hub for exchange and community. The post Oxford Properties forms partnership with Norges at Berlin’s iconic Sony Center in $717 million deal appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYMay 20th, 2022Related News

Marcus & Millichap Capital Corporation Arranges $64.4 Million Financing for Multifamily Property in Monrovia, CA

Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged $64.39 million in financing for a 252,100 square foot multifamily property located at 127 West Pomona in Monrovia, California. The financing was secured by Sharone Sabar, executive managing director, and Stefen... The post Marcus & Millichap Capital Corporation Arranges $64.4 Million Financing for Multifamily Property in Monrovia, CA appeared first on Real Estate Weekly. Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged $64.39 million in financing for a 252,100 square foot multifamily property located at 127 West Pomona in Monrovia, California. The financing was secured by Sharone Sabar, executive managing director, and Stefen Chraghchian, associate director, based in Encino, California. “It was a privilege to arrange this loan for our client,” said Chraghchian. “We were able to work with our lender through inflationary pressures to increase loan proceeds and offer non-recourse financing at a rate that was very appealing to our client.” The 42-month loan has an LTC of 65 percent and an interest rate of 3.4 percent. The property sits on a 1.83-acre site and is fully entitled and construction ready. The anticipated construction timeline is 33 months and the property will include a 220-unit residential apartment with 7,050 rentable square feet of commercial space and 357 parking stalls. The project is located within the city of Monrovia’s transit district with close proximity to Pasadena and Los Angeles. The post Marcus & Millichap Capital Corporation Arranges $64.4 Million Financing for Multifamily Property in Monrovia, CA appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYMay 20th, 2022Related News

National Rents Hit Their 14th Straight Month of Record-Highs

The U.S. median rental price hit a new high—$1,827—for the 14th month in a row, according to the latest Monthly Rental Report from realtor.com® released this week. And higher rents are increasingly cutting into households’ budgets for regular expenses and savings, according the portal’s Avail Quarterly Landlord and Renter Survey, also released this week, which… The post National Rents Hit Their 14th Straight Month of Record-Highs appeared first on RISMedia. The U.S. median rental price hit a new high—$1,827—for the 14th month in a row, according to the latest Monthly Rental Report from realtor.com® released this week. And higher rents are increasingly cutting into households’ budgets for regular expenses and savings, according the portal’s Avail Quarterly Landlord and Renter Survey, also released this week, which further puts a spotlight on the affordability struggles reported by renters. “April data illustrates the perfect storm of supply and demand dynamics behind the continued rent surge, from a low number of available rentals to higher for-sale housing costs forcing many would-be buyers to rent for longer than planned,” said realtor.com® Chief Economist Danielle Hale. “Renters are being left with few options but to meet higher rents and, in some cases, even offer above asking—whether they can afford to or not. “Avail’s new survey shows rents are not only maxing out renters’ housing budgets but are the biggest strain on their overall finances, even as inflation drives up expenses across the board. For renters trying to stay on budget, making a list of must-have features is key. This will be especially important as, if recent trends continue, we expect the typical U.S. asking rent to eclipse $2,000 by August.” April 2022 Rental Metrics – National Unit Size Median Rent Change over April 2021 Change over April 2020 Overall $1,827 16.7% 21.0% Studio $1,500 17.2% 15.2% 1-bed $1,679 15.7% 19.9% 2-bed $2,062 16.0% 23.8% April rents maintain record-breaking run, despite annual growth cooling slightly realtor.com®’s April data showed national rents maintained their record-breaking run that began in January 2021, despite posting a slightly smaller year-over-year gain than in March, according to the report. The continued rent surge is attributed to the mismatch between rental supply and rising demand, largely from would-be homebuyers. Some of these aspiring homeowners are staying in the rental market for longer than they may have intended, due to intensifying cost pressures driven by both the longstanding housing supply shortage and more recent inflationary economy. If these trends continue, national asking rents will likely surpass 2022’s forecasted year-over-year growth projections (+7.1%) by end of year. Additional key findings: The U.S. median rental price hit a new high of $1,827 in April, while the annual growth rate (+16.7%) moderated slightly from the March pace (+17.0%). Still, rents continued to rise at a double-digit annual pace, reaching 21.0% higher than in April 2020 right after the onset of COVID. Studio rents grew at a faster year-over-year pace (+17.2%) than one-bedrooms (+15.6%) and two-bedrooms (+15.9%). This is largely due to the ongoing rental market comeback in major downtowns where smaller living spaces are common, with studio rents up double-digits over April 2021 in all 10 of the biggest tech hubs, led by: New York City (29.1%), Boston (+27.4%) and Austin, Texas (+25.0%). In a potential reflection of shifting migration patterns during the pandemic, the five large markets that posted April’s biggest overall rental price gains year-over-year were in the Sun Belt: Miami (+51.6%), Orlando, Fla. (32.9%), Tampa, Fla. (27.8%), San Diego (25.6%) and Las Vegas (24.8%). Avail survey finds renters are struggling to keep up with rising costs  With rental demand on the rise, landlords with limited available units are able to adjust asking rents on both new and renewing leases to reflect the increasingly competitive market. In fact, the majority of landlords surveyed by realtor.com®’s Avail reported plans to increase rental prices within the next 12 months. This could mean further rental affordability challenges, with many surveyed renters already feeling the squeeze on their finances and savings, as inflation drives up the cost of everything from rent to regular household expenses. Among renters surveyed in April, 66.1% said higher rents and related household costs are their top cause of financial strain—ahead of other expenses like food and groceries (57.3%) and auto and transportation (50.8%). Higher rents are also limiting renters’ ability to save, with more than three-quarters of renters (76.1%) saving less each month than at the same time last year. The typical household surveyed reported being able to save just $50 each month. Of respondents whose rents have gone up on their current unit, 72.9% are considering a move to a more affordable rental. However, lower-cost options are dwindling, with renters who moved in the past year typically paying higher rents ($350) than they did previously. Those who are staying put are trying to cut costs, most commonly on entertainment (67.1%) and food and groceries (62.3%). Additionally, trends among surveyed landlords indicate that renters aren’t likely to see relief any time soon. Nearly three-quarters of landlords (72.1%) plan to raise the rent of at least one property this year, up from 65.1% in the January survey. “Our survey data underscores how renters and landlords alike are feeling the squeeze of inflation and higher costs. For renters in particular, many may understandably feel caught between a rock and a hard place, but remember that there are resources that can help. Doing your research can go a long way in helping you prepare to navigate rent increases and their impact on your family’s finances,” said Ryan Coon, Avail co-founder and VP of Rentals at realtor.com®. Renters grappling with higher costs can access free financial counseling through the Renter Advantage program, a collaboration between realtor.com®’s Avail, the National Foundation for Credit Counseling, the Housing Partnership Network, and Wells Fargo. Learn more here. The post National Rents Hit Their 14th Straight Month of Record-Highs appeared first on RISMedia......»»

Category: realestateSource: RISMEDIAMay 20th, 2022Related News

Court Calls for NAR to Provide Sitzer/Burnett Findings to Moerhl Plaintiffs

Despite the solace of its recent courtroom victory, the National Association of REALTORS® (NAR) still has one of its most significant fights ahead. The organization has been pressured to provide expert reports and documentation from one commission-related case to another. As both sides compile supporting documents and evidence in the Moehrl v. The National Association… The post Court Calls for NAR to Provide Sitzer/Burnett Findings to Moerhl Plaintiffs appeared first on RISMedia. Despite the solace of its recent courtroom victory, the National Association of REALTORS® (NAR) still has one of its most significant fights ahead. The organization has been pressured to provide expert reports and documentation from one commission-related case to another. As both sides compile supporting documents and evidence in the Moehrl v. The National Association of REALTORS® case, a U.S. District Court Judge for Northern Illinois has ordered NAR and company to release opposition expert reports and deposition transcripts from the Burnett v. NAR lawsuit to the plaintiffs in Moehrl. “Burnett, previously known as Sitzer v. National Association of REALTORS®, involves the same Defendants as here and challenges the same alleged anticompetitive restraints,” wrote Judge Andrea R. Wood in the order filed on May 11th. In addition to NAR, Realogy, HomeServices of America, RE/MAX and Keller Williams are among the Defendants named. The lawsuit also names 25 different MLSs across the nation. Like the Burnett case, the Plaintiffs in Moerhl are home sellers suing NAR and large real estate franchisors for allegedly conspiring to inflate commissions through NAR’s Buyer Broker Commission Rule—also known as the Participation Rule. The MLS policy, which has been around since the mid-1990s, requires all brokers to “make a blanket, non-negotiable offer of buyer broker compensation when listing a property on a Multiple Listing Service (MLS).” Plaintiffs in the Moerhl case alleged that the rule violated federal antitrust laws. Aside from damages, they also want “a permanent injunction” to stop NAR from requiring “sellers to pay the buyer broker.” The lawsuit is similar to the Burnett case, filed in a U.S. District Court in the Western District of Missouri a month after Moerhl in April 2019. The former was recently granted class certification status days after oral arguments last month. Plaintiffs in the Moerhl case are vying for their own class-action certification that could open the door to a potential detrimental blow to the real estate industry. While the Burnett case features a “confidentiality order,” the court document indicates that that order “expressly includes outside counsel in Moehrl among the third parties to whom both confidential and highly confidential information may be disclosed.” “Because the confidentiality order in Burnett appears to allow the disclosure of confidential information to Plaintiffs’ counsel, the Court sees no reason why Defendants should not be required to disclose the requested briefs and exhibits,” Woods wrote. According to the document, the Defendants initially asserted that the documents, claiming the briefs and exhibits from the Burnett case lacked relevancy “because they reflect Defendants’ legal arguments related to different experts and named Plaintiffs than the ones here, and involve a different damages analysis.” The court provided the defendants an opportunity to raise arguments supporting their points. However, NAR wrote in an email to RISMedia that it would “provide the requested material from the Burnett/Sitzer case to the Moehrl.” “We remain confident we will ultimately prevail in each case because at the core, the claims against us are without merit, and we always act in the best interests of consumers and to advance competition,” said a NAR spokesperson. NAR has maintained that it promotes and stands behind “pro-competitive, pro-consumer local MLS broker marketplaces” that are in consumers’ best interests. “Listing agents making offers of compensation to buyer brokers gives first-time, low/middle-income and all homebuyers a better shot at affording a home and professional representation,” NAR said. “It’s the free market that organically establishes commission costs within local real estate markets based on service, consumer preference and what the market can bear.” The post Court Calls for NAR to Provide Sitzer/Burnett Findings to Moerhl Plaintiffs appeared first on RISMedia......»»

Category: realestateSource: RISMEDIAMay 20th, 2022Related News

Effie Atsaves Promoted to LeadingRE Vice President, Marketing

Effie Atsaves Promoted to LeadingRE Vice President, Marketing.....»»

Category: realestateSource: RISMEDIAMay 20th, 2022Related News

Registration Open for ‘NAR NXT, The REALTOR® Experience’ – the New Name of the Annual REALTORS® Conference & Expo

The REALTORS® Conference & Expo is now NAR NXT, The REALTOR® Experience. This year’s event will take place in November in Orlando, Florida. NAR NXT will also offer virtual content for select sessions. Over two years of analysis and research have resulted in incorporating meaningful changes to NAR’s premier annual event, REALTORS® Conference & Expo.… The post Registration Open for ‘NAR NXT, The REALTOR® Experience’ – the New Name of the Annual REALTORS® Conference & Expo appeared first on RISMedia. The REALTORS® Conference & Expo is now NAR NXT, The REALTOR® Experience. This year’s event will take place in November in Orlando, Florida. NAR NXT will also offer virtual content for select sessions. Over two years of analysis and research have resulted in incorporating meaningful changes to NAR’s premier annual event, REALTORS® Conference & Expo. The changes elevate programming and ensure attendees are finding relevance and value in the event, year after year, both now and for years to come. With these significant changes came the opportunity for NAR to strategically rename the conference, NAR NXT, The REALTOR® Experience, to ensure it captures the value NAR is trying to convey. The change is supported by key messages that position the conference as the ultimate, experience-centric event for everyone in real estate, no matter where you are in your career or what field of real estate you are in, NAR says. Attendees will exchange ideas, experiment with cutting-edge innovation, get insights from top experts, and create their own experiences. NAR NXT is the innovation incubator at the heart of the real estate industry, NAR says. NAR members, real estate stakeholders and others who are interested in attending NAR NXT can register, view the conference schedule and learn more by visiting narnxt.realtor. The post Registration Open for ‘NAR NXT, The REALTOR® Experience’ – the New Name of the Annual REALTORS® Conference & Expo appeared first on RISMedia......»»

Category: realestateSource: RISMEDIAMay 20th, 2022Related News

Fathom Realty Adds Four Members to Its New Regional Director Position

Fathom Realty Adds Four Members to Its New Regional Director Position.....»»

Category: realestateSource: RISMEDIAMay 20th, 2022Related News

Headliners Week of 5/15 -5/21

Headliners Week of 5/15 -5/21.....»»

Category: realestateSource: RISMEDIAMay 20th, 2022Related News

BHHS Florida Network Realty Hosting Mega Open House Weekend June 4-5

Berkshire Hathaway HomeServices Florida Network Realty has announced its next “Mega Open House Weekend” will be Saturday and Sunday, June 4-5. The Mega Open House Weekend features dozens of open house viewings of the company’s listings of available homes. The listings encompass homes in a wide range of prices, styles and neighborhoods throughout Northeast Florida,… The post BHHS Florida Network Realty Hosting Mega Open House Weekend June 4-5 appeared first on RISMedia. Berkshire Hathaway HomeServices Florida Network Realty has announced its next “Mega Open House Weekend” will be Saturday and Sunday, June 4-5. The Mega Open House Weekend features dozens of open house viewings of the company’s listings of available homes. The listings encompass homes in a wide range of prices, styles and neighborhoods throughout Northeast Florida, the company stated. In May, the company’s Mega Open House event hosted 20 in-person open houses with virtual open houses on social media to support maximum reach and engagement. The company’s virtual open houses help create interest and bring prospective buyers to the in-person open houses, a release stated. The company’s web performance analytics show more than 23,000 visits on social media and more than 4,600 visits on the company’s website. “Many are attracted to our Mega Open House events because the Berkshire Hathaway HomeServices brand is respected for its trust, integrity, stability, and the highest work standards,” said Berkshire Hathaway HomeServices Florida Network Realty President Ann King. “In our competitive market, our Forever Agents are constantly rewarded for their exceptional service by receiving referrals from both buyers and sellers.” Visit OpenHouseNEFlorida.com for a list of open houses. Visit the company’s Facebook page, facebook.com/FloridaNetworkRealty, and Instagram, instagram.com/FloridaNetworkRealty, to view the homes virtually during the event. The public is welcome to visit homes for sale during the Mega Open House Weekend. For more information about Berkshire Hathaway HomeServices Florida Network Realty, visit FloridaNetworkRealty.com. The post BHHS Florida Network Realty Hosting Mega Open House Weekend June 4-5 appeared first on RISMedia......»»

Category: realestateSource: RISMEDIAMay 20th, 2022Related News