Is a correction in commercial retail coming?  If so, when?

   By Natalie Dolce via Globe St VEGAS—It is that time of year again and GlobeSt.com ramps up its retail coverage in preparation for RECon, the International Council of Shopping Centers’ …

Source: Is a correction in commercial retail coming?  If so, when?

Is a correction in commercial retail coming?  If so, when?

  


By Natalie Dolce via Globe St

VEGAS—It is that time of year again and GlobeSt.com ramps up its retail coverage in preparation for RECon, the International Council of Shopping Centers’ sprawling annual get-together. As more than 30,000 attendees prepare to descend on the Las Vegas Convention Center for this year’s edition, GlobeSt.com sat down recently some key attendees and retail experts to discuss some expectations for the upcoming event.
Chris Wilson, EVP and southwest retail brokerage lead of JLL, tells GlobeSt.com that this year, he expects to see a high degree of speculation regarding where we are in the real estate cycle. “I expect to hear and be part of discussions that are not if a correction is coming but when,” he says. “I hope to gain some insight as to how hard the landing might be and what may cause the correction.”
Jeff Hughes, a managing director at Stan Johnson Co., is looking forward to several key meetings with longstanding clients as well as getting a sense of what the overall activity level and sentiment is amongst developers and investors. “These large gatherings are an easy way to receive quick feedback on market health while gaining new activity from new clients,” he says.
According to Hughes, although retail is seeing high transaction volume, “markets are sending mixed signals with disruptors.”
Hughes says that is “possibly because there is an increase of supply or concern about the CMBS markets, and investors are going to give pause with this year’s election.”
Ron Meyers, SVP of Leasing, Phillips Edison and Co., tells GlobeSt.com that through the firm’s 25-year history of building shopping center portfolios, it has deep seeded relationships with many of the retailers who attend the convention. Meyers and his team conduct more than 1,000 meetings each year. “It is always a good time to reconnect with them and provide an update on our growing portfolio and our tenants’ growth plans. In addition, we look forward to developing new partnerships with national tenants that have growth plans that align with Phillips Edison’s strategic business objectives.”
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Millennials angry at the cost of Fla. housing

   
 Pics by Sean Dreznin

MANATEE COUNTY – April 4, 2016 – As a representative for one of the largest developers in Southwest Florida talked about how the free market affects rental prices, 20- and 30-somethings in the audience fumed.


Richard Bedford, vice president of planning for Schroeder-Manatee Ranch, said the free market was largely to blame for high rents and home prices in Sarasota and Manatee counties.

He said his company is building 2,037 affordable units in Sarasota and 500 in Manatee over the next 10 years mainly because local governments gave his company financial incentives to do so. He said more government incentives and higher wages could answer the cost-of-living problem.
“Why doesn’t the School Board or hospital pay you more? Aren’t you worth it? It always comes back on me,” Bedford said.
That prompted several people to shout comments and questions, such as:
“Are you pushing for a $15 minimum wage?”



“You’re pricing out the people who are from here!”



It was a sample of the frustrations thousands of residents in Sarasota and Manatee counties feel about the local cost of housing.



The housing panel was part of Millennial Con – a three-day conference aimed at getting the region’s young professionals ages 18-40 engaged in local government.
 Millennial Con was sponsored by the Manatee Millennial Movement and Manatee County Neighborhood Services. Saturday was Millennial Con’s main event, with about 70 people gathering to hear panels and workshops about everything from financial stability to government engagement.
The housing panel discussion was the most anticipated and animated talk of the day.



O’Dell, who has studied housing in Florida since the 1990s, said there are 44 so-called “affordable housing units” per 100 in Manatee County. But only 18 out of 100 housing units are both affordable and available.



“More than half of affordable housing unit sales are for investor owners or for people’s second homes,” O’Dell said. “So not only are there fewer affordable housing sales, they’re going to people who can afford more.”

O’Dell said what’s happening in Sarasota and Manatee counties is happening statewide and nationwide.
 

The Great Recession pushed more older people, who traditionally own homes, into the rental market, creating more competition.

There has been a 31 percent increase in renters in Florida from 2007 to 2014, while the number of homeowners dropped by about 8 percent.



And most of the new construction as a result of this rental demand is coming in the form of higher rent developments, O’Dell said.
Whiting Preston, who is behind the soon-to-be mixed-used development Lake Flores, suggested there may be affordable rentals, just not in the places millennials are looking for.
The audience groaned and some shouted “no.”

Bedford said the apartment complexes in Lakewood Ranch are full, and each new apartment development fills up at a dizzying pace.
 

But he and other developers don’t want to build too many too quickly because then there would be more competition among apartments.
He said it boils down to the bottom line.
If you make a ladder and someone will buy it for $20, why would you sell it for $10?” Bedford said.
Copyright © 2016 Mansfield News

Apartments for sale in Sarasota, FL

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Email Sean at srqcre@gmail.com

The Inn at Midtown is SOLD by Ian Black Real Estate’s Jag Grewal, Sean Dreznin & Amy MacDougall

<a The Inn at Midtown is SOLD IAN BLACK REAL ESTATE is pleased to announce the successful sale of THE INN AT MIDTOWN )Formerly the Best Western Midtown), 1425 S Tamiami Trail, Sarasota. The hotel, whi…

Source: The Inn at Midtown is SOLD by Ian Black Real Estate’s Jag Grewal, Sean Dreznin & Amy MacDougall

Downtown Sarasota apartment complex by developers Jesse Biter & Brian Jones, moves forward

Downtown Sarasota apartment complex by developers Jesse Biter & Brian Jones, moves forward by: Alex Mahadevan / News Innovation Editor The building boom in downtown Sarasota will continue into …

Source: Downtown Sarasota apartment complex by developers Jesse Biter & Brian Jones, moves forward

Come enjoy the guided Rosemary District Tour in Sarasota

Rosemary Tour with CID Sponsored by: Rosemary Square Thursday, March 31 Tour begins at 4 p.m. Networking at 5:45 p.m.    Meet at Mandeville Beer Garden 428 N Lem… Source: Come enjoy the guided Rose…

Source: Come enjoy the guided Rosemary District Tour in Sarasota

Come enjoy the guided Rosemary District Tour in Sarasota

Rosemary Tour with CID

Sponsored by: Rosemary Square Thursday, March 31 Tour begins at 4 p.m. Networking at 5:45 p.m.    Meet at Mandeville Beer Garden 428 N Lem…

Source: Come enjoy the guided Rosemary District Tour in Sarasota

Secrets of Writing the Perfect Email

Secrets of Writing the Perfect Email via Gmail Boomerang

There’s a lot of advice about how to write a good email on the web, from adding more cowbell to general writing advice to full sets of pre-written email templates. But almost none of that advice shows the data behind it (we’re guessing because there isn’t any), and a lot of it contradicts itself.

So here’s the roundup of what really matters when you’re sending an email, and how much each factor matters.

Sentiment graph

 

Message length data
One of the most significant factors in determining response rates is how positive (words like great) or negative (words like bad) the words in the message are. Emails that were slightly to moderately positive OR slightly to moderately negative elicited between 5-15% more responses than emails that were completely neutral.

We would advise against both excessive flattery and writing hostile, day-ruining screeds. Poisonously negative emails were less likely than even neutral emails to get a response, and extremely positive emails did little better.

 

Subject length data
The sweet spot for email length is between 50-125 words, yielding response rates above 50%. While average emails from Jeb and Hillary clock in at 10 and 9 words respectively, unless you’re running for President, sending emails that short mean you’ll sacrifice about 30% of your responses. Response rates slowly declined from 125 word messages to 500 word messages, then fell faster after that. So if you need to send War and Peace, you might want to send it as an attachment!

 

Reading Grade Level Data
Email marketing veterans know that testing subject lines is a critical step in designing an email campaign that will have a high open rate. Likewise, the length of your subject line impacts response rates, and the optimal length is shorter than we expected. Subject lines with only 3-4 words (excluding email conventions like Re: and Fwd:) received the most responses. Including some sort of subject line is critical: only 14% of messages without any subject line at all received a response.

 

Question Data Subjectivity Data
Our most surprising finding was that the reading grade level of your emails has a dramatic impact on response rates. Emails written at a 3rd grade reading level were optimal, providing a 36% lift over emails written at a college reading level and a 17% higher response rate than emails written at a high school reading level.

The main components of reading grade level scores are the number of syllables in your words and the number of words in your sentences. So try using shorter sentences and simpler words than you normally would. You can check your content’s reading grade level in the Word Count tool in most word processors, or search for “Flesch Kincaid grade level” to find a multitude of online tools.

The number of questions you ask in an email has a sweet spot, just like the number of words you write. We found that emails that asked 1-3 questions are 50% more likely to get a response than emails asking no questions. But a bombardment of questions won’t help you either – an email with 3 questions is 20% more likely to get a response than an email with 8 or more!
If your natural writing style has a “just the facts, ma’am” bias, you should consider including more opinions and more subjectivity into your messages! The more opinionated the content of the email, the higher the response rate climbed. One caveat – we have no idea if those subjective emails generated positive responses or declarations of war, so caveat writer!

Stress-Tested Every Way, Freddie Mac Finds MF Is Still A Winner

Source: Stress-Tested Every Way, Freddie Mac Finds MF Is Still A Winner