John Casmon

Metro Detroit Office Market Report Q3 2024 Key Takeaways * Overall market vacancy rate decreased from 12.7% to 12.3%. * Significant leasing activity occurred in the Detroit, Southfield and Troy * submarkets, totaling 735K SF. * Asking lease rate remained stable at $21.35. * Sales volume totaled $23.3M, bringing the YTD volume to $106.7M. See the link below to read the full report

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Cincinnati’s State of the Region 2024: Key CRE Takeaways Our latest edition dives into the Cincinnati USA Regional Chamber's State of the Region Report by Brandon Rudd. Here are a few highlights: 📈 Population Shift to Suburbs: As population growth surges in counties like Warren and Boone, office demand is shifting toward suburban areas. However, retaining young professionals in the urban core remains critical for downtown office market vitality. 💼 Economic Strengths & Market Impacts: Cincinnati’s GDP remains strong, supported by sectors like healthcare and education. Yet, slower growth in knowledge-based jobs could limit downtown office expansion. Collaboration and innovation are key to attracting diverse industries! 🏥 Healthcare Growth Fuels Industrial Demand: The expanding healthcare sector, with major employers like Cincinnati Children’s Hospital, is boosting demand for medical offices and industrial spaces for logistics and pharma storage. 🏡 Housing & Transportation Transformations: Suburban housing growth and transportation upgrades are reshaping where we work and live. Improved connectivity across the region enhances suburban office appeal and drives logistics and distribution needs, keeping Cincinnati at the forefront of logistics! Read more here: https://lnkd.in/gPRQ5y_b #Cincinnati #CommercialRealEstate #CRE #ColliersInsights #EconomicGrowth | Joseph Wiles, Cristian Arenas

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“What happens if a TORNADO comes through and tears up the entire #MobileHomePark?” 🌪️🌪️ While this is a terrible event no matter the outcome- especially if anyone gets hurt, there are things park owners can do to prepare and protect their #investors and #residents 1.) Carry loss of business income insurance so you’re still able to cover liabilities 2.) Work and communicate with local authorities to facilitate support for those with damages ASAP 3.) Get help on site and be hands on to help support and stick up for residents that are unable to do so for themselves - also get the property cleaned up and “safe” ASAP to avoid further losses 4.) work with FEMA to try and get new FEMA mobile homes and vouchers delivered to uninsured residents with losses 5.) Call your banker and ask for a loan forbearance until things get back to normal What else would be good to add? Post in comments below ⬇️ https://lnkd.in/eniudZtW #mobilehomeparkinvesting #trailerparkinvesting #realestateinvesting

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Listen to my podcast episode on Multifamily Media Network's: Decoding Multifamily. My path, though challenging, highlights the power of perseverance and dedication. From Single-Family to Multifamily Leadership: My career evolution led me to become the president of the Apartment Association in Michigan, overseeing a vast portfolio of 200,000 units statewide. Strategic Shifts: Starting in the early 2000s with a focus on single-family properties, I made a pivotal transition in 2017 towards multifamily investments, recognizing the sector's immense potential. Commitment to Advocacy: Throughout my career, my dedication to service and advocacy has been evident. My volunteer work and leadership positions within the industry demonstrate my commitment to championing the multifamily community. Navigating Challenges: Despite obstacles like the proposed renter's bill of rights, I remain steadfast in protecting property owners' interests and advocating for a balanced regulatory framework. I hope my story of the power of perseverance, passion, and purpose-driven leadership helps you in your own journey. Discover more about my journey and the keys to my success by listening to the full podcast here: https://lnkd.in/gt7jsTUF #Entrepreneurship #CommercialRealEstate #Multifamily

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🚀 Exciting News! 🚀 I'm thrilled to share that my Free Video Series, "Your Roadmap to Hotel Investment Success," is now featured on the Columbus Chamber of Commerce website! 🌟 Whether you're new to hotel investments or looking to refine your strategy, this series offers invaluable insights to help you achieve success in the hospitality industry. Check it out and start your journey towards profitable hotel investments today! 🏨💼 https://bit.ly/46CugIg #HotelInvestment #HospitalitySuccess #BusinessGrowth #ColumbusChamber #RealEstateInvesting #Entrepreneurship

🌆 Maximizing Midweek Moments in Commercial Real Estate 🌆 Wednesday evenings are the perfect time to reflect on the week's progress and strategize for future opportunities in the Central Ohio commercial real estate market. Here are a few ways to make the most of your midweek moments: 1. Review Market Trends: Spend some time analyzing current market trends and data. This midweek review can provide insights into emerging opportunities and help adjust your strategies accordingly. 2. Connect with Clients: Use this time to reach out to clients and check in on their needs and goals. A midweek touchpoint can strengthen relationships and keep projects on track. 3. Strategic Planning: Wednesday evenings are great for revisiting your strategic plans and making adjustments. Whether it's a new investment strategy or a tweak to an ongoing project, this is your chance to ensure everything aligns with your goals. 4. Educational Webinars: Many industry webinars and networking events occur midweek. Take advantage of these opportunities to learn and connect with other professionals. 5. Reflect and Recharge: Finally, take a moment to reflect on your accomplishments and recharge for the rest of the week. A balanced approach keeps you sharp and ready to tackle the market's demands. Let's make this Wednesday evening a productive one. Stay tuned for more insights and updates from Central Ohio's commercial real estate landscape. #CentralOhioCRE #MidweekMotivation #RealEstateStrategy #ClientSuccess #MarketTrends

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What will happen if we don't solve the housing crisis in Northern Michigan? How do we begin to start the road to recovery? The housing crisis in Northern Michigan continues to be a pressing issue with significant consequences. Here are some key points from recent data and reports. Demand vs. Supply: The demand for affordable housing is high, but the supply is low. A 2022 report by Housing North revealed that the region needs around 31,000 new housing units to keep up with demand in counties like Antrim, Benzie, Charlevoix, Emmet, Grand Traverse, Kalkaska, Leelanau, Manistee, Missaukee, and Wexford1. Most of the people moving to the region are older millennials and seniors. In other words, they are grey beards like myself. Occupancy Levels: Rental units are scarce, with a 99.3% occupancy level across surveyed apartment complexes. Only 51 units out of over 7,000 were vacant. Challenges: Adding more housing units faces hurdles, including an overstock of seasonal housing. Approximately one-fourth of all housing stock in the region is used for seasonal or recreational purposes. Potential Solutions: Advocates and policymakers are exploring solutions such as grants, low-interest loans, zoning adjustments, and legislative changes to address the crisis. Affordable housing isn’t just about numbers and construction. We need to use disruptive innovation to create vibrant, inclusive communities. By embracing new technology, sustainable materials, and community-driven approaches, we can ensure that housing remains within reach for all. Without effective solutions, the housing crisis could exacerbate inequality, continue to impact workforce availability, and strain our local economy. It’s crucial to prioritize affordable housing to maintain a thriving community in Northern Michigan. Let’s build a future where everyone has a place to call home.

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May Market Insights As we transition into the heart of the 2024 "Leasing Season", the Metro Detroit office market is demonstrating markedly increased activity, aligning with traditional patterns observed between April and June. This period, known for its increased leasing velocity, is seeing businesses engage more actively in real estate decisions. The stable pace of transactions reflects a market that has adapted to post-pandemic realities.   Current trends show a sustained interest in spaces that support hybrid work models (with most employees in the office 2 to 4 days per week) and enhance operational efficiency, reflecting the ongoing prioritization of quality and flexibility in workspace solutions. As companies recalibrate their office requirements, premium, amenity-rich locations continue to attract tenants, driving a steady flow of leasing activities in remodeled office building with amenities.   As we approach the slower summer months, when leasing inquiries traditionally dip due to vacation season, we remain optimistic about the resilience of the market. This consistent activity bodes well for the stability of the Metro Detroit office sector, promising a seamless transition into the latter half of the year. https://lnkd.in/g4Xy8_y7

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Detroit Homecoming: 'What it really comes down to is collaboration' https://lnkd.in/eDtGAgHn via @crainsdetroit #CRE #detroit #commercialrealestate #realestate #sperry #counselorsofrealestate #ccim #sior

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The following decks include information on global macroeconomic trends including GDP, inflation, and interest rates for North America. Attached is the full report from JLL Research, just released. #westmichigan #cfos #westmichiganbusiness #realestatedevelopment #economicoutlook #outlook2024 #business #westmichigan #grandrapids #holland #SouthBendBusiness

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Signs of Stabilization The total office availability rate in the downtown Chicago market decreased for a second consecutive quarter signaling a positive turn for the market. Over the last two quarters, total availability dropped by 70 basis points to 28.9%. The driver is sublease available space as it has decreased by just over 1.1 million square feet since the beginning of this year. This sharp decrease in available sublease space is an indicator that major tenants have finally right-sized their usable space and are offering less large blocks of sublease space to compete in the market. The power is expected to shift to owner’s hands to reset the market with the available direct space pricing.

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Back on Market | St. Germain Storage Portfolio | St. Germain, WI DEAL SUMMARY   LIST PRICE   $1,750,000 NRSF             41,005 UNITS 169 ACRES 6.326 LOCATIONS 2   INVESTMENT HIGHLIGHTS   PRIME LOCATION // Both sites are located just off HWY 70 with vehicle counts exceeding 5,700 per day. Marquee Sign on HWY 70 as well. ​ MANAGEMENT OPPORTUNITY  // Opportunity for a new owner to automate the overall operation; by automating the rental process further, by utilizing the DaVinci lock system. ​ ADD VALUE OPPORTUNITY // The current ownership does not charge late fees, admin fees, nor do they offer tenant insurance. These ancillary items can be implemented day one by a new owner. As well as a new owner can add another building to the 7466 location. ​ RENTAL RATE OPPORTUNITY // With historically high physical occupancy, a new owner will be able to increase the advertised street rents on day one, which will allow them to improve the in place rental rates as well. ​ MARKETING OPPORTUNITY // Current ownership does not do any marketing, with it being a lake community, new ownership can add SEO, allowing to keep occupancy high while increasing rental rates.   INVESTMENT SUMMARY   The two property portfolio consists of 169 total units across 9 buildings totaling 41,005 net rentable square feet. The 7466 location sits on 5 acres and is improved by 6 buildings with one of the buildings being used as boat storage, where the customers pull their own boats in and out of the building. The additional land at this location is currently being utilized with parking, but a new owner could build further square footage. This location also includes a rental office, that could be converted back to a unit if a new owner chooses to not utilize it. The 6147 location sits on 1.4 acres and is improved by 3 buildings. Both locations offer LED lighting, and a security camera system for 24 hour monitoring. The acquisition of St Germain Storage offers a qualified investor with the opportunity to acquire a turn-key two property self-storage portfolio. An investor can benefit by adding value through improving the in place rental rates, adding admin fees, late fees and tenant protection, adding further square footage, and along with improving / automating the overall management process. Access the Offering Memorandum on our website at https://lnkd.in/gYYJ_BMg Listed By: EquiCap Commercial 1001 E. Main St - Unit E St. Charles IL, 60174 NAI Pfefferle 200 E. Washington St - Suite 2A Appleton, WI 54911 Presented By: Scott Rihm EquiCap Commercial 630.669.5625 [email protected] Jonathan Glassco NAI Pfefferle 920.205.4849 [email protected] #SelfStorage #SelfStorageBroker #SelfStorageBrokerage #InvestmentCRE #SelfStorageInvestment #EquiCapCommercial #SelfStorageOpportunities #SelfStorageforSale #WisconsinSelfStorage

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A visionary plan to redevelop the Renaissance Center (RenCen) has been revealed! General Motors in partnership with real estate firm Bedrock Detroit aims to reimagine this iconic site, along with 27 acres along the Detroit Riverfront. The plan includes demolition of two of the five original towers of the iconic Renaissance Center, located on Jefferson Avenue in Downtown Detroit. The estimated $1.6 billion redevelopment cost includes the reimagined public walkway, public park, conference center, a new hotel, office tower and a multi-family tower. "Every person who invests in well-selected real estate in a growing section of a prosperous community adopts the surest and safest method of becoming independent, for real estate is the basis of wealth." - Theodore Roosevelt, U.S. President. Follow Darrick Muhammad for more real estate investing content Credit: General Motors and Bedrock Detroit #realestate #bigdeals #realestateinvestor #realestateinvesting #realestateinvestors #investments #investmentproperty #wealthymindset #propertyinvestment #wealthhacks #multifamilyinvesting #apartmentinvesting #investormindset #successtips #residualincome #investing #apartmentinvestor #luxurylistings #wealthbuilding #financialfreedom #buildingwealth #passiveincome #passiveinvesting #cashflow #rencen #generalmotors #gm #renaissancecenter #bedrockdetroit #detroit

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📊 Exciting Insights from CBRE's Q1 2024 Chicago Suburban Figures Report 📈 Key takeaways from CBRE's Q1 2024 Chicago Suburban Figures Report: 1️⃣ Tenant urbanization trends: Companies are migrating to urban/amenitized areas within the suburbs like Oak Brook, Schaumburg, and O'Hare. 2️⃣ Occupier sentiment: Occupiers are focused on rightsizing their footprint and committing to an additional 3-5 years in the market. Renewals account for over half of leasing velocity. 3️⃣ Landlord sentiment: Capital freezes among large institutional landlords impact deal-making. Those able to fund lease transactions have an advantage. Stay informed on the dynamic real estate landscape in the Chicago suburbs. For more insights or to discuss how these findings may impact your business, reach out to me. Let's drive success together! #RealEstateInsights #ChicagoSuburbs #CBRE #MarketTrends

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Indianapolis Industrial Market Update! As we approach 2025, our city’s industrial real estate market is seeing some interesting shifts. Right now, annual rent growth is at 3.7%, which is down about 400 basis points this year. But there’s good news—projections suggest we could see it bounce back to 6% by late 2025 if the economy stays strong. On vacancies, we’ve got 8.4 million square feet of new industrial space delivered, compared to 5.9 million square feet of demand. That’s pushed vacancies above 9%, which is higher than average. Leasing activity remains steady, though. Over 350 leases were signed this year, averaging 38,000 square feet. Hotspots like Johnson County, Plainfield, Boone County, and western Hendricks County are leading the way. Some standout deals include Cummins with a 12-year ground lease for over a million square feet in Whiteland, and Lilly locking in 826,000 square feet for 15 years in Brownsburg. With new developments and shifting economic conditions, there are real opportunities for tenants and investors. If you want to discuss what this means for your business, reach out to me or Matt Carroll—we’d love to chat about the market with you! #Industrialcre #warehousing #indyrealestate #commercialrealestate

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Midwest cities are underrated. I love the laid-back vibrancy, the history and the architecture of downtowns in cities like Cleveland, Milwaukee, Omaha, Indianapolis, Columbus and (even if not technically Midwest) Pittsburgh -- just to name a few. I like the random green spaces that weren't part of a master plan. I like the activity and buzz without feeling frenetic. I like the many examples of adaptive reuse -- including cool hotels and restaurants and apartments. I like the downtown sports stadiums, which have the unique vibe of fanbases that trace back multiple generations of local family fandom. I know plenty of these cities have their issues. For some, their prime years are long in the rearview mirror. But I'd still be optimistic about cities that continue to bet on themselves by investing in their downtowns, even in the work-from-anywhere era. If you're a renter who wants to live in a city but at slower pace (and better price) than the coasts and with more character than the younger Sun Belt markets, Midwest cities can be a great fit at a good price point. For apartment investors, another reason to be optimistic about Midwest cities is a massive affordability advantage. Every Midwest city (outside of Chicago) offers apartments that, on average, are around half the rent levels of the bigger coastal cities. Rents in Midwest cities also tend to be more stable than other parts of the country, especially compared to the more volatile coasts. Over the last 2+ decades, apartment rents have never fallen more than 3% year-over-year in Columbus, Cleveland or Pittsburgh -- and other Midwest markets aren't too far behind. Lesser upside, too, but there's value in predictability. Because of their stability and demand drivers, we probably won't ever see massive supply surges in most of these markets. Even as national apartment supply hits 50-year highs, supply remains constrained across most of the Midwest. And it's actually trending downward because the Midwest isn't immune to development headwinds like high rates and construction costs. What are your favorite Midwest cities? #apartments #Midwest #multifamily

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