Our commercial real estate team specializes in representing owners, landlords, and investors. In difficult real estate cycles, our customers need representation with proven results, regardless of the market condition. Thank you to our clients and customers for the business transacted in 2011. Please continue to visit our website to view today’s available opportunities and stay current on market happenings. Thank you.....John & Tim
Langis Wholesale – 10,000+/- SF
Langis Wholesale, headquartered in Hogansburg, NY, recently moved into a 10,000+/- square foot distribution space at 2801 Broadbent Parkway NE. Langis Wholesale’s new Albuquerque operation will serve as a sales and marketing branch for distribution of its premium tobacco products that are sold throughout the United States. “Langis Wholesale selected Broadbent Business Park to house its NM distribution operations due to the its central location, immediate access to I-25 and I-40, and close proximity to the ABQ International Sunport.” said Tim With, SIOR, CCIM, the Grubb & Ellis broker who handled the transaction on behalf of the landlord.
Kinesio Taping (www.kinesiotaping.com) – 11,000+/- SF
Kinesio Taping, headquartered in Albuquerque, NM, recently expanded into an 11,000+/- square foot warehouse/distribution space at 2801 Broadbent Parkway NE. The new space will be utilized for the manufacturing and packaging of their Kinesio Therapeutic Tape. Kinesio has been breaking new ground in sports performance, pain management and physical therapy, and its tape is used to successfully treat a variety of orthopedic, neuromuscular, neurological and medical conditions. According to John Ransom, SIOR, CCIM, the broker who handled the transaction on behalf of the landlord, “In an economy that has seen many ups and downs in recent years, it is refreshing to see an Albuquerque-based company seizing an opportunity to reposition its operations into a larger, more efficient space that will help expand the production of their unique products.”
Whether you're a business looking to buy or lease space or an investor interested in private capital, you’ve come to the right place. Our Team (John Ransom, SIOR, CCIM | Tim With, SIOR, CCIM) is dedicated to serving your Albuquerque Commercial Real Estate needs. Connect with us on Twitter or Facebook.
Bank credit conditions loosened moderately between April and July according to the Federal Reserve’s quarterly Senior Loan Officer Opinion Survey on Bank Lending Practices. Of the domestic banks responding to the survey, 21.8 percent loosened standards for commercial and industrial loans to large and medium firms during the survey period, i.e. general business loans to firms with annual sales of $50 million and up. Twenty percent of banks reported stronger demand from large creditworthy borrowers. Smaller borrowers did not fare quite as well in the survey with 7.8 percent of domestic banks loosening standards and just 5.8 percent of banks reporting an increase in loan demand from smaller firms. These results are in line with other surveys showing that small businesses have had a more difficult time rebounding from the recession.
A separate question in the survey asked about supply and demand conditions for commercial real estate loans, and the results were moderately encouraging with 5.5 percent of domestic banks loosening standards and 21.8 percent reporting stronger demand from creditworthy borrowers. Overall, debt capital is available from banks at favorable terms for both general business and commercial real estate loans. Banks are competing for good credits, which explains why terms have become more favorable for borrowers who qualify.
What a week!... and not in a good way. The stock market got on a roller coaster (mostly down), the European contagion spread to France, and economists talked more frequently about a recession. But even in a week like this, there’s always something positive to take away. Here are five pieces of good news:
- Economists have been downgrading their forecasts, but the majority still think the U.S. can avoid a recession. The odds I’ve heard most frequently are between 1 in 3 and 1 in 2 that a near-term recession is in the cards, i.e. a 50 to 66 percent chance that the U.S. will skirt a recession.
- The most recent employment data support that view. Initial jobless claims slipped to 395,000 for the week ending August 6, the lowest level in more than four months.
- Retail sales increased 0.5 percent in July, the strongest performance since March. Excluding autos and gas – called core sales – the increase was 0.3 percent. This beat expectations and means that consumers, who account for 70 percent of GDP, continue to spend judiciously.
- The Dow Jones Industrial Average fell 12.4 percent from its recent peak on July 21 through its close on Thursday. But remember: the market has predicted nine of the last five recessions – a statement attributed to Dr. Paul Samuelson, author of the best-selling economic textbook of all time.
- Doctors reported some success in treating leukemia with T cells, a type of white blood cell, modified to hunt and destroy cancer cells. Although the results are very preliminary, this highlights the tremendous role that healthcare, biotechnology and medical research will play in the global economy for decades to come.
It’s possible for the country to think or legislate its way into a recession, which means that if we have one, it will be triggered by a combination of poor policy decisions here and in Europe and by a crisis of confidence, which is exactly what caused the stock market correction. For the time being, the economic tea leaves point to continued sluggish expansion, not to another recession.
Great piece of news leading into the three-day Fourth of July weekend: The June ISM manufacturing index increased last month to 55.3 from 53.5 in May, confounding analyst expectations for a further decline. Readings above 50 indicate that the sector is expanding. Several components of the index were especially encouraging:
- New orders, a leading indicator of future production activity, rose from 51.0 to 51.6.
- The employment component increased from 58.2 to 59.9, meaning that hiring demand is firming.
- Perhaps most intriguing, the prices-paid component fell to 68.0 in June, down from 76.5 in May and 85.5 in April. A decline in the rate of increase for input prices eases a significant burden that had been weighing down production activity in recent months.
Overall, the report suggests that temporary factors – supply chain disruptions related to the disasters in Japan plus the spike in oil and commodity prices – played a significant role in the recent weakness. As these factors are reversed, the manufacturing sector is poised to play a pivotal role in supporting second-half GDP growth.