Richard Juge Assists with International Tech Kongsberg Maritime's Louisiana Expansion

Norwegian maritime tech company Kongsberg Maritime Inc. purchased 5.2 acres in St. Rose to expand its Louisiana office and training center in the business park where it currently leases offices. Richard Juge, president of New Orleans-owned RE/MAX Commercial Brokers, Inc. worked with Kongsberg Maritime and Houston-based JLL to study and finalize a deal.  Read More.

Despite plunging oil prices, Gulf on brink of boom

In a January 7, 2015 article published in USA Today reports - Even as crude's rampant price plunge rattles the industry, the Gulf of Mexico is on the brink of an unprecedented oil boom. Nearly five years after the Deepwater Horizon disaster briefly paralyzed gulf drilling, analysts predict deepwater oil production is headed into one of the biggest growth spurts in history. Production is likely to reach a peak of 1.5 million barrels of crude a day by 2016, surpassing the previous record set in 2009.

“As stated in this article, commercial real estate broker Martin Miller and I believe that we can segment the “oil” market in So. LA into long term capital expenditure projects and those that are more shorter term," stated Richard Juge, CCIM, SIOR, president of RE/MAX Commercial Brokers. "Clearly most of the offshore/deep water projects have to have a very long term vision of five to 10 or more years. So, while we expect the fall in oil prices to potentially have an impact on some immediate, inshore, and less strategic type projects, we feel the bigger projects that involve multi-billion dollar investments will continue. As a team we have more experience in the oil and gas industry than any other commercial brokers in the state of LA and would look forward to helping your company.”

Bywater's L.A. Frey & Sons Meat Packing Plant Listed - Unique Development Opportunity

The former L.A. Frey & Sons Meat Packing Plant property located on Burgundy and Bartholomew Streets has been listed for sale in whole or part by RE/MAX Commercial Brokers, Inc.  Once envisioned as a four-corner $42 million mixed use development called ICInola, this property offers a unique opportunity for redevelopment in the dense high-demand Bywater neighborhood.  The property includes a 52,500 SF plant adjacent to a 15,000 SF vacant lot, and a 14,000 SF office building with an 8,100 SF parking lot.

The property owner has agreed to sell the property in its entirety for $3 million or will divide the property in two segments: the plant and vacant lot for $1.95 million (less than $40/SF); and the office building with adjacent lot for $1.05 million (approximately $80/SF). The property is currently zoned L-1 for light industrial.  Future zoning has been proposed for Historic Marigny/Treme/Bywater Mixed Use District (HM-MU).  The new zoning is intended to provide a mixed-use environment of light industrial, commercial and residential uses that would not adversely affect the historic character of the neighborhood.

“In recent years, the Bywater neighborhood has been in high demand with impressive in-fill and redevelopment taking place throughout the area,” stated Richard Juge, RE/MAX Commercial Brokers, Inc. owner and broker. 

Interested buyers may contact brokers Charles Mullin at cmullin@nolacommercial.com; Jonathan Shaver at jshaver@nolacommercial.com or Richard Juge at rjuge@nolacommercial.com.  The office phone number is (504) 838-0001.

RECon Wrap-Up - by Jonathan D. Shaver, CCIM

Toward the end of May, I attended RECon in Las Vegas.  RECon is an annual convention of retail real estate professionals, and is put on by the International Council of Shopping Centers (ICSC).  Attendance had dropped off a bit during the recent economic downturn, but this year was back to pre-recession attendance, with over 30,000 attending.  

As a first timer, both to RECon and Las Vegas, I can say that my mind was thoroughly blown.  RECon took up an incredible amount of space in the Las Vegas Convention Center, and nearly anybody related to retail real estate had a booth on full display.  Retailers, brokers, developers, economic development professionals and others shuffled from booth to booth, meeting to meeting and presentation to presentation.  I ate complimentary Jersey Mike's sandwiches, Auntie Anne pretzels and Pinkberry frozen yogurt.  I heard from the president of ICSC and other industry players on the state of the national and international economy, which markets are hot, and what franchises are looking for what type of space in what parts of the world.  

I was able to "home base" at the RE/MAX Commercial booth, which was ably staffed by Kevin Bair from Denver and Nathan Bragg from Los Angeles. It was great to be able to put names with faces and network with other RE/MAX Commercial practitioners from across the country.  The booth provided a place for us to showcase our properties, leave business cards, and meet with prospects in the private meeting area.  I networked with the CCIM cadre, whose booth was just a few doors down from RE/MAX's.  And I attended a function at the New Orleans Business Alliance's (NOLABA) booth as well.  NOLABA reported strong interest in New Orleans, which was encouraging, and validating to hear.  The interest national retailers are showing in New Orleans is palpable, and with each addition to our market's retail mix, more retailers look in our direction.  

My first RECon is already paying off, with interest in several of my listings from folks I met, and a number of referrals headed my way as well.  That said, I'm already looking forward to next year's RECon, and will have a better idea of what to expect and how best to spend my time when it arrives.

Jonathan D. Shaver, CCIM

jshaver@nolacommercial.com

RE/MAX Commercial Brokers, Inc.

3331 Severn Ave. Suite 200, Metairie, LA 70002
Direct: 504-838-0001| Mobile: 504-579-4082

Each Office Independently Owned and Operated

https://www.facebook.com/pages/REMAX-Commercial-Brokers-Inc/140439766112420https://www.facebook.com/pages/REMAX-Commercial-Brokers-Inc/140439766112420Licensed in LA

Is your portfolio hedged against inflation?

Real estate investment is considered to be the perfect hedge against inflation, unlike other asset types, real estate rarely earns negative annual returns.  Risks do exist, but insured property will never incur a complete loss of value.  David Lereah, chief economist as the National Association of Realtors states: "In the past investors bought gold as a hedge against inflation now they buy real estate.  It achieves high returns with reasonable risks compared to other assets."  While some owners prefer to operate and manage their own properties, other pay a management company and only know when to expect their check in the mail.  Tax laws allow write-offs for depreciation and expenses, protecting income from FICA taxes, and deferment of capital gain taxes.  Additionally, real estate is a broad asset class, allowing investors to select properties suitable to his/her needs, from apartment complexes, to hi-rises, to retail buildings to self-storage.  Real estate deserves a place in every investor's portfolio.  Real estate investment is vital to capital appreciation and investor return.  To find out how real estate can work for you contact me for a private consultation.

Eric P. Gilberti, Associate Broker
egilberti@nolacommercial.com
RE/MAX Commercial Brokers, Inc.

Metairie Cenacle Sealed Bid Sale Announced

Visit http://mysealedbid.com/ for more information on
Metairie Cenacle Property
On Lake Pontchartrain - Metairie, Louisiana - Jefferson Parish
19+ Acres with 31,900sf Retreat House.