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Rankin Commercial Properties says Commercial Real Estate Back to Black.
Rankin Commercial Properties says Commercial Real Estate Back to Black.
Rankin Commercial Properties released a press release with their latest market insight.
Raleigh, NC (RCPNEWS) 1, September 2010 – Rankin Commercial Properties announced their latest view on Commercial Real Estate Market Conditions today saying that the industry is “Back to Black.”
Rankin Commercial Properties a full service commercial real estate firm in Raleigh, North Carolina, has been a market leader in maintaining property portfolios for clients in the South Eastern United States. Rankin Commercial Properties occasionally releases market updates on conditions surrounding the commercial real estate market.
“For the first time in a long time, we are seeing significant activity in the Commercial Real Estate markets that suggest a fall out is no longer expected” said Charles Rankin, President of Rankin Commercial Properties. “Institutional buyers are stepping into investments helping the Dow Jones REIT index significantly outperform the broader market.” FTSE NAREIT’s All-REIT index, comprised of 148 publicly traded REITs, was up 11.7 percent year-to-date as of Aug. 26 while the Standard & Poor’s 500-stock index was down 4.9 percent. Publicly traded REITs represent 15 percent of the total U.S. commercial real estate market.
However, Rankin Commercial Properties forecasted a foreclosure rush earlier in the year which would have offset the scarcity of property acquisition opportunities, which has limited many REITs’ ability to grow as the economy recovers. “We thought a fall out would have been a good thing, a great thing for our business, but it never happened, now we are focusing on leasing properties and maintaining properties” said Charles.
Rankin Commercial Properties believes Apartments and Retail properties will outperform the market as Office properties and Industrial Properties begin moving off the bottom. But the fact that the commercial real estate market hasn’t crashed is overall positive.
According to Rankin, CMBS loans in 2010 while a fraction of the peak in 2007 have already far exceeded the total for 2009. Commercial Real Estate Sales spiked to $9.7 Billion in June, while commercial property values continued to increase at a premium above current rental rates. The aggregate value of Commercial Real Estate (CRE) loans priced by DebtX that collateralize CMBS increased to 79.4% as of July 30, 2010, up from 77.4% as of June 30, 2010. Loan values were 71.1% as of July 31, 2009. In July, DebtX priced 57,801 Commercial Real Estate loans with a $679.5 billion aggregate principal balance. “The fact is, sum 90% of CMBS loans are performing” said Charles.
July’s numbers followed June’s where there was a spike in national multifamily and commercial real estate sales, rising to $9.7 billion in the month. This was the highest volume of significant commercial property sales since September 2008. The increase in activity-over the year, from the first to the second quarter and over the second quarter itself-suggests that investors remain largely undeterred by downward revisions to the economic outlook. The current tally of commercial properties in contract suggests that prevailing levels of activity will be sustained into the third quarter.
“Cap rates are beginning to rise significantly” says Charles “from 9 to 10% last year to 7 to 7.5% today, there still could be a backlash and slight double dip, but still we are talking about capitalization rates at all significant highs yielding great commercial property investment opportunities.”
“Apartments will outperform the entire real estate industry as renters move back into the community but aren’t ready for purchasing a home, a common trend following a recession” said Charles. REITs that primarily own apartment buildings are in a stronger position than those that concentrate on office, retail, and industrial properties. With home prices continuing to fall, and access to credit diminished, renting is the only option for many people who can’t get mortgage loans or aren’t willing to buy a house now. Occupancy rates for apartment buildings are currently running at 92 percent to 94 percent, compared with about 88 percent for warehouses and other industrial properties and 84 percent for office buildings.
But Rankin Commercial Properties believes the Retail Property market is leaning towards a pop. “US consumers are deleveraging faster than expected, they are cash heavy, and it’s only a matter of time before they start spending.” Today consumer spending rose slightly as some consumers began fretting off fears of unemployment. “The worst for the retail industry is over, has been over, and as those retailers begin looking for ways to increase revenue and reallocate funds, property leasing activity is going to rise, and higher spending will increase percentage rents.”
“In August we saw a pop in Retail sales driven by back to school shoppers and sales tax holidays” said Charles, “that was actually an unexpected improvement.” Better consumer confidence numbers, spending numbers, and August sales numbers are all good signs for Retail Properties.
Although Rankin Commercial Properties is bearish on the suburban office space and industrial space, they still had a few positives. “Our entire economy has changed, we simply won’t return to the same conditions we had pre 2007, however, one thing is certain and that is recessions are restored with innovation. Innovation requires office space and industrial space, the question is where will that innovation come from, Tech, Medical, Research and Development, who really knows at this point, it’s too early to tell” said Charles.
“On a local market level, Raleigh Commercial Real Estate and Cary Commercial Real Estate have several strengths that will help push a recovery in Office and Apartments as Fort Brag expands and DOD contractors search for offices in the Raleigh-Fayetteville areas” said Charles. “Other office space users seem to be temporarily medical and counselor driven, however RTP has seen some significant activity recently from Research and Development type corporations.”
“Overall Commercial Properties are ‘Back to Black’ meaning the cash flows are increasing enough to sustain properties and keep bankers from foreclosing. But significant growth remains weak primarily because the segment is recovering without a washout. We’ve seen a lot of loans rolled and very few foreclosures in recent months accompanied with stronger leasing activity.”
About Rankin Commercial Properties LLC:
Rankin Commercial Properties (RCP) is a Full Service Commercial Real Company. Encompassing all aspects of commercial properties, RCP offers Property Management, Brokerage Services, Tenant Representation, Landlord Representation, Facilities Services, Property Maintenance, Construction, Landscaping, and Cleaning & Janitorial Services. The company currently employs over 13 full time and part time personnel.
Rankin Commercial Properties is North Carolina’s Premier Source for Commercial Real Estate Expertise. Our team specializes in Office, Retail, Industrial, Land, and Investment Properties. Unlike most Commercial Real Estate Companies, Rankin Commercial Properties (RCP) is a Full Service Commercial Real Estate Company offering Landscaping, Cleaning & Janitorial, Property Management, Brokerage, Marketing, Maintenance, and Financial Services. Our “all around, hands on” approach not only gives us the knowledge to negotiate fair deals, but the ability to lower operating costs for most investment properties. The Rankin Team has an uncanny ability to creatively and analytically determine proper solutions to every commercial real estate need. Rankin Commercial Properties is devoted to building long term relationships with its clients and community.
Cary Retail Space, Cary Office Space, Cary Commercial Real Estate, Raleigh Retail Space, Raleigh Office Space, Raleigh Commercial Real Estate
Rankin Commercial Properties exceeds 18,000 website visits in May 2010 sees increase in Retail Space Searches.
Rankin Commercial Properties released marketing results today for May 2010 showing 18,327 website visitors in May 2010.
Raleigh, NC (RCPNEWS) 08, June 2010 – Rankin Commercial Properties announced marketing statistics for May 2010 showing over 18,000 unique website visitors.
Rankin Commercial Properties a full service commercial real estate firm in Raleigh, North Carolina, has been a market leader in online marketing of their property listings. In May 2010 Rankin Commercial Properties had 18,327 unique website visitors.
“Rankin Commercial Properties is revolutionizing the way Commercial Properties are marketed on the internet, we have seen significant increases in traffic to our site, as well as leads for additional information on properties we have listed or Tenant/Buyer Representation requests” said Charles Rankin, President and CEO of Rankin Commercial Properties.
Based on a sample survey of the visitors from the Triangle Region of North Carolina, Rankin Commercial Properties estimates:
For Lease or For Sale Searches:
55% Commercial Properties For Lease
23% Commercial Properties For Sale
22% Either
Property Type of Interest:
16% Multi-Family Properties
10% Industrial Properties
3% Land
33% Office Space
38% Retail Space
City of Interest:
35% Cary
92% Raleigh
9% Durham
14% Surrounding Areas
“The leasing market is continuing to strengthen in the Triangle Area, although we have seen a slight increase in purchase and investment interest. Another key point about May’s results shows a significant increase in retail interest and decrease in industrial” said Mr. Rankin.
Rankin Commercial Properties completed mainly office and retail leases in the first quarter of 2010 and similar to their website traffic results has picked up on retail transactions during the second quarter.
The stats also indicate searches are mainly in the 1500-3500 SF range although industrial interest for the month showed an increase in searches for properties over 10,000 SF.
About Rankin Commercial Properties LLC:
Rankin Commercial Properties (RCP) is a Full Service Commercial Real Company. Encompassing all aspects of commercial properties, RCP offers Property Management, Brokerage Services, Tenant Representation, Landlord Representation, Facilities Services, Property Maintenance, Construction, Landscaping, and Cleaning & Janitorial Services. The company currently employs over 13 full time and part time personnel.
Rankin Commercial Properties is North Carolina’s Premier Source for Commercial Real Estate Expertise. Our team specializes in Office, Retail, Industrial, Land, and Investment Properties. Unlike most Commercial Real Estate Companies, Rankin Commercial Properties (RCP) is a Full Service Commercial Real Estate Company offering Landscaping, Cleaning & Janitorial, Property Management, Brokerage, Marketing, Maintenance, and Financial Services. Our “all around, hands on” approach not only gives us the knowledge to negotiate fair deals, but the ability to lower operating costs for most investment properties. The Rankin Team has an uncanny ability to creatively and analytically determine proper solutions to every commercial real estate need. Rankin Commercial Properties is devoted to building long term relationships with its clients and community.
Cary Retail Space, Cary Office Space, Cary Commercial Real Estate, Raleigh Retail Space, Raleigh Office Space, Raleigh Commercial Real Estate
Contact:
RCP Marketing Department
800-737-9632
Rankin Commercial Properties picks up new 3160-5610 SF Retail listing in North Raleigh
Rankin Commercial Properties announced the listing of 3195-5610 Square Feet of Retail Space on Six Forks Road in Raleigh, NC.
Raleigh, NC (RCPNEWS) 26, May 2010 – Rankin Commercial Properties announced today they are listing 3,195-5,610 Square Feet of prime retail space on Six Forks Road in Raleigh, NC. .
The property is located 1.5 miles from the Rankin Commercial Properties Raleigh office at 601 E. Six Forks Rd, on the corner of Wake Forest Rd and Six Forks Rd on either side of Lifestyle Fitness. Neighboring businesses include Applebee’s, Papa John’s, KFC, and Costco.
North Hills continues to grow and expand across Six Forks Road, the Wake Forest Road and Six Forks Road corridors have been becoming increasingly bullish markets turning older shopping centers and office buildings into rehab projects for developers.
After taking over 4109 Wake Forest Road, a 34,000 SF Class B Office Building on the corner of New Hope Church Road and Wake Forest Road, Rankin Commercial Properties leased the property up from 40% to 96% with some new leases exceeding $20 PRSF. “We’ve seen a lot of action in this vicinity over the past 18 months which could even still have been slightly hindered from the economic conditions. Still, the properties are leasing up and prospects continue to search for space throughout the area” said George Upchurch, Executive Vice President of Operations at Rankin Commercial Properties.
For more information on the Wake Forest Road/Six Forks Road retail space, contact Samuel Thornton at 919-259-2337 sthornton@rankincommercialproperties.com.
About Rankin Commercial Properties LLC:
Rankin Commercial Properties (RCP) is a Full Service Commercial Real Company. Encompassing all aspects of commercial properties, RCP offers Property Management, Brokerage Services, Tenant Representation, Landlord Representation, Facilities Services, Property Maintenance, Construction, Landscaping, and Cleaning & Janitorial Services. The company currently employs over 13 full time and part time personnel.
Rankin Commercial Properties is North Carolina’s Premier Source for Commercial Real Estate Expertise. Our team specializes in Office, Retail, Industrial, Land, and Investment Properties. Unlike most Commercial Real Estate Companies, Rankin Commercial Properties (RCP) is a Full Service Commercial Real Estate Company offering Landscaping, Cleaning & Janitorial, Property Management, Brokerage, Marketing, Maintenance, and Financial Services. Our “all around, hands on” approach not only gives us the knowledge to negotiate fair deals, but the ability to lower operating costs for most investment properties. The Rankin Team has an uncanny ability to creatively and analytically determine proper solutions to every commercial real estate need. Rankin Commercial Properties is devoted to building long term relationships with its clients and community.
Cary Retail Space, Cary Office Space, Cary Commercial Real Estate, Raleigh Retail Space, Raleigh Office Space, Raleigh Commercial Real Estate
Contact:
RCP Marketing Department
800-737-9632
Rankin Commercial Properties leases 6,128 SF Flex, Office, Retail Space in Raleigh, NC
Rankin Commercial Properties announced the leasing of a 6,128 SF office, flex, retail space in Raleigh, NC.
Raleigh, NC (RCPNEWS) 23, May 2010 – Rankin Commercial Properties announced today they had leased a 6,128 SF office, flex, retail space in Raleigh, NC.
The 6,128 SF flex space is located at 5800 McHines Place in Raleigh. Kenneth Fain of Rankin Commercial Properties represented the tenant side of the transaction and Colin Perry of York Properties represented the Landlord.
The new tenant will be ASG Security, ASG provides a full range of affordable hardwired and wireless security system solutions to protect your home or business from loss or damage from intrusion, fire and hold-up.
About Rankin Commercial Properties LLC:
Rankin Commercial Properties (RCP) is a Full Service Commercial Real Company. Encompassing all aspects of commercial properties, RCP offers Property Management, Brokerage Services, Tenant Representation, Landlord Representation, Facilities Services, Property Maintenance, Construction, Landscaping, and Cleaning & Janitorial Services. The company currently employs over 13 full time and part time personnel.
Rankin Commercial Properties is North Carolina’s Premier Source for Commercial Real Estate Expertise. Our team specializes in Office, Retail, Industrial, Land, and Investment Properties. Unlike most Commercial Real Estate Companies, Rankin Commercial Properties (RCP) is a Full Service Commercial Real Estate Company offering Landscaping, Cleaning & Janitorial, Property Management, Brokerage, Marketing, Maintenance, and Financial Services. Our “all around, hands on” approach not only gives us the knowledge to negotiate fair deals, but the ability to lower operating costs for most investment properties. The Rankin Team has an uncanny ability to creatively and analytically determine proper solutions to every commercial real estate need. Rankin Commercial Properties is devoted to building long term relationships with its clients and community.
Cary Retail Space, Cary Office Space, Cary Commercial Real Estate, Raleigh Retail Space, Raleigh Office Space, Raleigh Commercial Real Estate
Contact:
RCP Marketing Department
800-737-9632
Rankin Commercial Properties welcomes Caroline McClintic as a Commercial Real Estate Broker.
Rankin Commercial Properties announced the hiring of Caroline McClintic as a Commercial Real Estate Broker
Raleigh, NC (RCPNEWS) 8, March 2010 – Rankin Commercial Properties announced today they hired Caroline McClintic as a Commercial Real Estate Broker.
Caroline McClintic is a Raleigh native and an alumna of St. Mary’s School. She graduated from the University of South Carolina in 2009 with a Bachelor’s in Public Relations and a minor in Business. She recently obtained her NC Brokers license and is excited to begin her real estate career at Rankin Commercial Properties.
About Rankin Commercial Properties LLC:
Rankin Commercial Properties (RCP) is a Full Service Commercial Real Company. Encompassing all aspects of commercial properties, RCP offers Property Management, Brokerage Services, Tenant Representation, Landlord Representation, Facilities Services, Property Maintenance, Construction, Landscaping, and Cleaning & Janitorial Services. The company currently employs over 13 full time and part time personnel.
Rankin Commercial Properties is North Carolina’s Premier Source for Commercial Real Estate Expertise. Our team specializes in Office, Retail, Industrial, Land, and Investment Properties. Unlike most Commercial Real Estate Companies, Rankin Commercial Properties (RCP) is a Full Service Commercial Real Estate Company offering Landscaping, Cleaning & Janitorial, Property Management, Brokerage, Marketing, Maintenance, and Financial Services. Our “all around, hands on” approach not only gives us the knowledge to negotiate fair deals, but the ability to lower operating costs for most investment properties. The Rankin Team has an uncanny ability to creatively and analytically determine proper solutions to every commercial real estate need. Rankin Commercial Properties is devoted to building long term relationships with its clients and community.
Cary Retail Space, Cary Office Space, Cary Commercial Real Estate, Raleigh Retail Space, Raleigh Office Space, Raleigh Commercial Real Estate
Contact:
RCP Marketing Department
800-737-9632
Rankin Commercial Properties Sees 47% increase in property listing exposure and 112% increase in new tenant rep clients.
Rankin Commercial Properties announced a 47% increase in property listing exposure on their website in February 2010 from January 2010
Raleigh, NC (RCPNEWS) 1, March 2010 – Rankin Commercial Properties announced today they had a 47% increase in online web traffic from January 2010 to February 2010 and a 377% increase from the prior year. Total website unique visitors came to 11,378 the most Rankin Commercial Properties has had in the history of the company.
With the news, Rankin Commercial Properties announced a 112% increase in new client leads from the prior month.
“We are mainly excited about our internet exposure, as most property seekers are turning to the internet for commercial property listings and searches. Landlord clients listing their commercial properties with Rankin Commercial Properties are definitely getting more exposure on their commercial property listings than any other firm here in the Triangle,” explained Charles Rankin, President.
The Rankin Commercial Properties marketing team mentioned after a similar increase in January they felt the increase in traffic was in accordance with and increase in internet search volume industry wide. However, according to their research, February search volume for key words such as Office Space remained relatively unchanged from January to February, suggesting that Rankin Commercial Properties had simply taken a greater share of search engine traffic.
“The significance of our increased traffic, with virtually no increase in search demand, shows our marketing techniques are quickly gaining a higher volume of results from the popular search engines” Charles Rankin explained, “this development benefits our listings clients and brokerage team. The drastic increase in Tenant Rep leads is driving a significant increase in business for our brokers. At the same time, while all our properties are listed on 15 major Commercial MLS sites, they are gaining exposure to an additional 11K plus visitors a month from Rankin Commercial Properties family of websites. A significant value add for customers and clients looking to sell and lease commercial real estate.”
Rankin Commercial Properties is currently hiring additional commercial real estate brokers to help handle their sales and leads volume. “During the month of February, Rankin Commercial Properties provided to their brokers over 4 leads per day and over 28 leads per week. That’s not including call-ins and networking. To our knowledge no other commercial real estate firm provides their brokers with so many opportunities.” Said George Upchurch, Executive Vice President of Operations “Additionally, we have created a marketing vehicle to push properties directly in front of the consumer. This is an SEO strategy that has cost tens of thousands of marketing dollars and years of implementation to create and we feel we are only hitting the tip of the iceberg.”
About Rankin Commercial Properties LLC:
Rankin Commercial Properties (RCP) is a Full Service Commercial Real Company. Encompassing all aspects of commercial properties, RCP offers Property Management, Brokerage Services, Tenant Representation, Landlord Representation, Facilities Services, Property Maintenance, Construction, Landscaping, and Cleaning & Janitorial Services. The company currently employs over 13 full time and part time personnel.
Rankin Commercial Properties is North Carolina’s Premier Source for Commercial Real Estate Expertise. Our team specializes in Office, Retail, Industrial, Land, and Investment Properties. Unlike most Commercial Real Estate Companies, Rankin Commercial Properties (RCP) is a Full Service Commercial Real Estate Company offering Landscaping, Cleaning & Janitorial, Property Management, Brokerage, Marketing, Maintenance, and Financial Services. Our “all around, hands on” approach not only gives us the knowledge to negotiate fair deals, but the ability to lower operating costs for most investment properties. The Rankin Team has an uncanny ability to creatively and analytically determine proper solutions to every commercial real estate need. Rankin Commercial Properties is devoted to building long term relationships with its clients and community.
Cary Retail Space, Cary Office Space, Cary Commercial Real Estate, Raleigh Retail Space, Raleigh Office Space, Raleigh Commercial Real Estate
Contact:
RCP Marketing Department
800-737-9632
Rankin Commercial Properties Sees 33% increase in property listing exposure and 240% increase in new tenant rep clients.
Rankin Commercial Properties announced a 33% increase in property listing exposure on their website in January from December 2009
Raleigh, NC (RCPNEWS) 1, February 2010 – Rankin Commercial Properties announced today they had a 33% increase in online web traffic from December 2009 to January 2010 and a 152% increase from the prior year. Total website unique visitors came to 7,759 the most Rankin Commercial Properties has had in the history of the company.
With the news, Rankin Commercial Properties announced a 240% increase in new client leads from the prior month.
“We are mainly excited about our internet exposure, as most property seekers are turning to the internet for commercial property listings and searches. Landlord clients listing their commercial properties with Rankin Commercial Properties are definitely getting more exposure on their commercial property listings than any other firm here in the Triangle,” explained Charles Rankin, President.
About Rankin Commercial Properties LLC:
Rankin Commercial Properties (RCP) is a Full Service Commercial Real Company. Encompassing all aspects of commercial properties, RCP offers Property Management, Brokerage Services, Tenant Representation, Landlord Representation, Facilities Services, Property Maintenance, Construction, Landscaping, and Cleaning & Janitorial Services. The company currently employs over 13 full time and part time personnel.
Rankin Commercial Properties is North Carolina’s Premier Source for Commercial Real Estate Expertise. Our team specializes in Office, Retail, Industrial, Land, and Investment Properties. Unlike most Commercial Real Estate Companies, Rankin Commercial Properties (RCP) is a Full Service Commercial Real Estate Company offering Landscaping, Cleaning & Janitorial, Property Management, Brokerage, Marketing, Maintenance, and Financial Services. Our “all around, hands on” approach not only gives us the knowledge to negotiate fair deals, but the ability to lower operating costs for most investment properties. The Rankin Team has an uncanny ability to creatively and analytically determine proper solutions to every commercial real estate need. Rankin Commercial Properties is devoted to building long term relationships with its clients and community.
Cary Retail Space, Cary Office Space, Cary Commercial Real Estate, Raleigh Retail Space, Raleigh Office Space, Raleigh Commercial Real Estate
Contact:
RCP Marketing Department
800-737-9632
Rankin Commercial Properties Lists Multi-Tenant Flex Building for Sale
Rankin Commercial Properties announced the listing of Hargrove Place 1 a Multi-Tenant Flex Building for Sale
Raleigh, NC (RCPNEWS) 26, January 2010 – Rankin Commercial Properties announced today they listed Hargrove Place 1 a Multi-Tenant Investment Property located on Hargrove Rd in North Raleigh For Sale.
The Multi-Tenant Flex Building offers numerous drive in bays to A+ National tenants as well as local business owners. The Property is located on Hargrove Rd just north of the CarQuest Headquarters.
About Rankin Commercial Properties LLC:
Rankin Commercial Properties (RCP) is a Full Service Commercial Real Company. Encompassing all aspects of commercial properties, RCP offers Property Management, Brokerage Services, Tenant Representation, Landlord Representation, Facilities Services, Property Maintenance, Construction, Landscaping, and Cleaning & Janitorial Services. The company currently employs over 13 full time and part time personnel.
Rankin Commercial Properties is North Carolina’s Premier Source for Commercial Real Estate Expertise. Our team specializes in Office, Retail, Industrial, Land, and Investment Properties. Unlike most Commercial Real Estate Companies, Rankin Commercial Properties (RCP) is a Full Service Commercial Real Estate Company offering Landscaping, Cleaning & Janitorial, Property Management, Brokerage, Marketing, Maintenance, and Financial Services. Our “all around, hands on” approach not only gives us the knowledge to negotiate fair deals, but the ability to lower operating costs for most investment properties. The Rankin Team has an uncanny ability to creatively and analytically determine proper solutions to every commercial real estate need. Rankin Commercial Properties is devoted to building long term relationships with its clients and community.
Cary Retail Space, Cary Office Space, Cary Commercial Real Estate, Raleigh Retail Space, Raleigh Office Space, Raleigh Commercial Real Estate
Rankin Commercial Properties Picks Up over 20 New Clients in January 2010
By only the 2nd week of January 2010 Rankin Commercial Properties is off to a roaring start of the new year with over 20 new clients.
Rankin Commercial Properties Logo
Raleigh, NC (RCPNEWS) 12, January 2010 –
Rankin Commercial Properties announced today they had over 20 new clients starting off the year with a bang in 2010.
“We’ve expected January 2010 to mark the beginning of a very successful period in the commercial real estate market. With a rebound in leasing activity, we expect to see more lease deals in 2010 than 2008 and 2009 combined” says Charles Rankin, President and CEO.
But that 2010 doesn’t mean a successful year for the commercial real estate market. “it has a long ways to climb.” Charles expects Commercial Property Foreclosures to peak as refinancing efforts fall through the cracks. “Banks are more conservative than they ever have been and aren’t even lending even to performing commercial real estate assets. Requirements have become unattainable for most borrowers, standards haven’t been tightened, they have been wiped out all together. Banks are only lending to borrowers with virtually no risk” explains Charles. As an example, he explained some banks will only lend to customers willing to deposit 10% of the loan value. With LTV rates around 65%, a borrower would need to put down 35% on the purchase price and another 10% in deposits into the bank lending the money. That’s a 45% down payment.
“Cash is the Real Deal, if you have it, the deals of the decade can be made.” But Rankin Commercial Properties is bullish on the Commercial Real Estate Market from an activity standpoint. “In 2010 we’ll see an abnormal amount of commercial property sales transactions, more big money commercial property acquisitions, and an abundance of commercial property lease transactions.”
Why all the leases? “We’ve already seen a significant amount of small business start ups from laid off employees with money. But where the most influence will come from is from the now stronger, leaner, retailers, who will be out taking advantage of bottom market lease rates.”
Charles goes on to explain that most businesses, especially retailers have reduced astronomical amounts of dept in restructuring and have significantly increased Net Operating Incomes from layoffs and lower debt burdens. “Businesses are poised for a 15% decline in Gross Revenues and only seeing 10%.” The result has created a better, stronger, leaner environment for those businesses who have survived the recession and will play a vital role in those businesses expansion efforts over the next 6-9 months.
Rankin Commercial Properties expects new commercial real estate development to remain weak while repositioned commercial properties reap the rewards. “New development is still too steep, and with the existing inventory of larger anchor space on the market, we’ll need to see some serious absorption before a significant return of new development. “
Rankin Commercial Properties has been making efforts to position itself to reposition existing properties. The company’s focus is on providing property owners with Leasing, Marketing, and Project Management initiatives to move vacant spaces off the market. “We have a unique position with an incredible team to reposition and strategically release properties.”
George Upchurch, Executive Vice President of Rankin Commercial Properties and Charles Rankin attended the NY ICSC conference last December. Only their focus wasn’t finding retailers “we went to New York City for one reason, investors, we found what we were looking for and have some exciting plans over the next 12 to 24 months” said Charles. “However, we did learn quite a bit while we were there; the market is stronger, tenants are stronger, and the lapse between reconciliation and new growth among tenants is narrower.”
Rankin Commercial Properties opened an office in Cary, NC in the fall of 2009 and opened their Raleigh office in 2010. “You’ll probably see at least one more office in the coming months as our company expands to a more southeastern service level.”
Earlier in the month Rankin Commercial Properties announced a web presence growth of 7000 visitors a month to their website up from 185 per month a year earlier. “This is great news for our clients, it shows our market exposure of our property listings is reaching 7000 searchers a month, most importantly, it shows a drastic change in the amount of property seekers from this time last year until now.” Rankin Commercial Properties launched a new website on January 1, 2010 and expects to raise site traffic to over 14000 visitors in the next 6 months. “I can confidently say NO other firm has the internet technology and SEO capabilities of our firm. We are extremely aggressive on our marketing efforts.”
About Rankin Commercial Properties LLC:
Rankin Commercial Properties (RCP) is a Full Service Commercial Real Company. Encompassing all aspects of commercial properties, RCP offers Property Management, Brokerage Services, Tenant Representation, Landlord Representation, Facilities Services, Property Maintenance, Construction, Landscaping, and Cleaning & Janitorial Services. The company currently employs over 13 full time and part time personnel.
Rankin Commercial Properties is North Carolina’s Premier Source for Commercial Real Estate Expertise. Our team specializes in Office, Retail, Industrial, Land, and Investment Properties. Unlike most Commercial Real Estate Companies, Rankin Commercial Properties (RCP) is a Full Service Commercial Real Estate Company offering Landscaping, Cleaning & Janitorial, Property Management, Brokerage, Marketing, Maintenance, and Financial Services. Our “all around, hands on” approach not only gives us the knowledge to negotiate fair deals, but the ability to lower operating costs for most investment properties. The Rankin Team has an uncanny ability to creatively and analytically determine proper solutions to every commercial real estate need. Rankin Commercial Properties is devoted to building long term relationships with its clients and community.
Cary Retail Space, Cary Office Space, Cary Commercial Real Estate, Raleigh Retail Space, Raleigh Office Space, Raleigh Commercial Real Estate
Rankin Commercial Properties Welcomes Tom Petruccelli
The Rankin Commercial Properties Team Welcomes Real Estate Developer Tom Petruccelli to their team.
Raleigh, NC (RCPNEWS) 11, January 2010 – Rankin Commercial Properties announced today the addition of Real Estate Developer Tom Petruccelli and Real Estate Broker Kenneth Fain to the Rankin Commercial Properties commercial real estate team.
Tom Petruccelli joined Rankin Commercial Properties in December 2009 and became active in the company January 1, 2010. “Tom is a great addition to our team as a General Contractor and Broker” says George Upchurch, Executive Vice President of Rankin Commercial Properties.
Mr. Petruccelli will be working with Rankin Commercial Properties as a General Contractor and Commercial Real Estate Broker.
“Rankin Commercial Properties is working towards hiring the best possible team to face the future commercial real estate market. Our team members come from all backgrounds and knowledge of the market, each member brings a unique dynamic and professional experience to the company that we did not have before” Charles Rankin, President and CEO explains about the new hires.
About Tom:
Tom Petruccelli has been building fine quality residential and commercial properties for over a quarter of a century. In addition to his impeccable reputation for custom built designs, he also helps to build lifestyles, dreams, and exceptional value with the completion of every residential and commercial project.
Tom has been building quality properties in the triangle for over 18 years.
Tom is recognized by the building industry, peers and clients, for his integrity, keen understanding of designs, creativity, and attention to detail. He is a winner of numerous Parade of Homes Awards and consistently delights clients with his talented craftsmanship.
Tom has completed over $50 Million Dollars in real estate transactions in the past 15-18 years.
About Rankin Commercial Properties LLC:
Rankin Commercial Properties (RCP) is a Full Service Commercial Real Company. Encompassing all aspects of commercial properties, RCP offers Property Management, Brokerage Services, Tenant Representation, Landlord Representation, Facilities Services, Property Maintenance, Construction, Landscaping, and Cleaning & Janitorial Services. The company currently employs over 13 full time and part time personnel.
Rankin Commercial Properties is North Carolina’s Premier Source for Commercial Real Estate Expertise. Our team specializes in Office, Retail, Industrial, Land, and Investment Properties. Unlike most Commercial Real Estate Companies, Rankin Commercial Properties (RCP) is a Full Service Commercial Real Estate Company offering Landscaping, Cleaning & Janitorial, Property Management, Brokerage, Marketing, Maintenance, and Financial Services. Our “all around, hands on” approach not only gives us the knowledge to negotiate fair deals, but the ability to lower operating costs for most investment properties. The Rankin Team has an uncanny ability to creatively and analytically determine proper solutions to every commercial real estate need. Rankin Commercial Properties is devoted to building long term relationships with its clients and community.
Cary Retail Space, Cary Office Space, Cary Commercial Real Estate, Raleigh Retail Space, Raleigh Office Space, Raleigh Commercial Real Estate
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