Wednesday, October 11, 2017

Fishing for the Right Location? Try Landing One Instead!

Mike Mito, Sales Associate


By: Mike Mito, Sales Associate

The only constant is change and things can change in ways you would never expect or have planned for.

In fishing, real estate and oil and gas exploration location is everything!  There may be only a few choice locations that produce the desired results and those that can best take advantage of any situation are those that have the foresight, knowledge, tools, experience and skills to be flexible and prepare for any inevitability.

Adapt or die

As a child growing up in Canada I spent almost every summer in a small outport community, Harbor Deep, located in Newfoundland in Northern Canada. Newfoundland, for much of its history, has been known for its rich fishing grounds but technological improvements, mismanagement and overfishing decimated what had been a goldmine and resulted in a moratorium on the two main species of fish, Cod and Atlantic Salmon.

The changing world was already putting significant pressures on outport life but the lose of the fishing industry amounted to a death knell; Harbor Deep ceased to exist back in 2002 when the population voted to accept a resettlement agreement put forth by the Canadian government. The moratorium amounted to the loss of the only real industry in the town; villagers even faced severe fines for catching fish for their personal consumption. No fish, no jobs, no livelihood or quality of life and no reason to stick around. What had once been a prosperous little fishing village became a ghost town overnight.

I see many parallels between the fishing industry in Canada and the current situation with the oil and gas industry in the Gulf, technology has allowed us to recover more oil and at a lower cost making the financial metrics of off shore production harder to justify. It may be safe to assume that the price of oil will go up in the future, as producers who are over leveraged, poorly managed or too costly are run off by low or non existent profit margins thus limiting supply and driving prices higher; as to when that may be, it is very hard to say. Those with the vision and foresight can find value in the current market as companies are forced to liquidate or look to get underperforming assets off of their balance sheets to allow themselves to run leaner and operate within the current economic reality.

Those who bury their heads in the sand will be left in the dust while those with vision will see opportunity.

Re/Max Commercial is happy to offer for sale the following properties for the opportunistic buyer:


Feel free to reach out to us regarding our perspectives on the economy, its impact on commercial real estate and asset valuation and where we feel value can be found and how to best take advantage of the current market to position yourself for the future.

Cheers!

Mike Mito, Sales Associate
mmito@nolacommercial.com
504.838.0001
nolacommercial.com




Tuesday, September 5, 2017

RE/MAX Commercial Brokers Facilitates Firehouse Subs First Metairie Location



RE/MAX Commercial Brokers, Inc. is proud to announce that Matt Eaton, CCIM represented Firehouse Subs in their search and negotiations for their first Metairie location at 3814 Veterans Memorial Blvd at the corner of Belmont Place. After touring multiple locations on and off market, Matt was able to locate a highly visible location on heavily trafficked Veterans Highway. Through fervent negotiations, Matt was able to secure a great deal for his client in a highly sought after property in the heart of Metairie.


This new Firehouse Subs store #1492 is scheduled to open later this month and will feature hot subs and submarine sandwiches made with premium meats and cheeses, steamed to perfection, then piled high on a toasted private recipe sub roll. Firehouse Subs continues to remain active in the Louisiana and Mississippi markets. They are looking for 2,000 square feet of free-standing or end cap locations.


Matt Eaton also represents a number of other national/regional retailers including Rouses Supermarket, LA Dental Center, Quest Diagnostics and Waffle House in Louisiana and the Gulf South. Please call Matt Eaton at 504-339-2136 to see how he can help you grow your business.

Wednesday, August 9, 2017

MAGAZINE STREET PARCELS FETCH HIGH PRICE WITH OPEN BID PROCESS



RE/MAX Commercial Brokers senior agents Martin O. Miller III, CCIM and Matt Eaton, CCIM listed and helped sell two of the largest, last remaining vacant parcels of land on Magazine Street, each measuring roughly 30,000 sq.ft.  Through an open-bid process developers were asked to submit their highest and best offers to acquire 1310 & 1339 Magazine Street.  Although not a conventional process, the open bid method for these parcels proved to be the best course of action for the sellers netting them one of the highest sales prices per square foot on Magazine Street to date.  The local developer that purchased the property has a proven track record in the city with developments on Magazine Street and in the CBD.  People are eager to see their plans for these two sites. 


The open-bid sales method is when multiple offers are received from buyers within a certain time frame.  This method works for highly desirable properties as it creates a competitive environment and a frenzy for the property versus standard marketing where there are no deadlines or a sense of urgency.  For this process to work there has to be good coordination with the sellers, brokers and buyers along with adequate marketing and promotion of the property prior to the offer deadlines.  


For more information on this property or the open-bid process, please contact Martin O. Miller III, CCIM at (504) 838-0001 or momiller@ccim.net.

Friday, February 17, 2017

RE/MAX Commercial Brokers has 4 of the top 10 Most Viewed Listings!

LoopNet, Inc., the most viewed public portal for commercial real estate, just promoted the Top 10 most viewed properties in the entire State of LA, and RE/MAX Commercial Brokers, Inc. of N.O. had 4 of those 10.  RE/MAX Commercial Brokers of New Orleans issued a statement that said ‘this is a testament to the quality of our agents, clients, listings, and the power of RE/MAX’s International marketing efforts’.   A core tenet of RE/MAX’s philosophy is Maximum Exposure.  In the end this means a quicker sale and at a higher price for our customers.  Please email us at info@nolacommercial.com as to how we can help you sell or lease your property.

Friday, September 30, 2016

Congratulations to Lucy Chun, Jonathan Shaver, Richard Juge, Matt Eaton, Peter Lombardo, and Charles Mullin!



Wednesday, August 3, 2016

New Orleans Investment Group Acquires Pensacola Office/Retail Complex for Revitalization!