Who Says The Industrial Warehouse Real Estate Market Isn’t Sexy?

By Roger D. Wyche With all the attention being paid to CRE announcements such as those from Toyota, Liberty Mutual, the Dallas Cowboys, Charles Schwab, Read more

Commercial Real Estate Capital Markets are Liquid; Development Accelerates During 2015

By Scott Lynn Commercial real estate capital markets have gone full cycle since the depths of the Great Recession. Capital providers are now considering a Read more

Metropolitan Capital Advisors Arranges a $9,650,000 Acquisition Loan for a Plano Office Building

Metropolitan Capital Advisors, Ltd. (“MCA”) has arranged an acquisition loan for the Plano Parkway Business Center office building located in Plano, Texas.  MCA arranged Read more

Online vs. Brick & Mortar Retail – Where Are You Shopping for the Holidays?

— By Sunny Sajnani In today’s world of Uber and Amazon Prime, it’s obvious that people are focused on convenience in their consumption.  Yesterday, I Read more

Is it 10-7 for the 1031 Exchange?

by Charley Babb In their heyday of the 1970s and 1980s, citizens band (CB) radio users utilized the “ten code” as part of their style Read more

Looming Rate Hike Means CRE Values Have Peaked? Not so Fast…

By Brandon Wilhite On December 16, the Federal Open Market Committee (FOMC) will meet to discuss, among other things, whether to raise the Federal Funds Read more

Happy Ending: A Tax-Increment-Financing Success Story

By Duke Dennis When it comes to Tax-Increment-Financing (TIF) in the context of commercial real estate, it is best to focus on the gap between Read more

Baseball: America’s Pastime & Commercial Real Estate’s Favorite Analogy

October means baseball. Meaningful, dramatic, high-energy, playoff baseball. In our world, analogies to baseball are frequent, because Commercial Real Estate is apparently best understood in Read more

Trick or Treat...Recourse or Non-Recourse?

By: Scott Lynn Metropolitan Capital Advisors has brokered billions of non-recourse commercial real estate loans over the years that have been placed with banks, conduits, Read more

Dallas is the Nation’s Top Real Estate Market & Other Musings from Urban Land Institute's Fall Meeting

By: Justin Laub I spent the past week attending meetings and discussion forums in San Francisco at the annual Urban Land Institute (ULI) Fall Meeting. Read more

Single Family…….We have a Problem!

By Todd McNeill In a recent report from the Texas Association of Realtors, Texas ranked #2 in the nation for relocation moves.  According to the Read more

My Kids Asked for a Treehouse and Got a Lesson in Value Add Real Estate Investing Instead

--By Jeffrey Reder, CenterSquare Investment Management A few weeks ago, my son declared that he wanted me to build a treehouse in our backyard. My Read more

The Bad Taste of Basel III

--By Scott Lynn, Director / Principal As commercial real estate financiers, we are constantly faced with a variety of evolving banking regulations that are changing Read more

Rising Multifamily Rents - Can Renters Afford the Sticker Shock?

By Sunny Sajnani, Director / Principal As a real estate professional in one of the fastest growing markets in the country, I am constantly hearing Read more

2015 Tour De Dallas: Opportunity & Growth Abound

by Kevan McCormack For the Dallas-Fort Worth Metroplex, growth is not a foreign concept. In 1980, SMU was beginning its most successful era in the Read more

The Changing Landscape of the Development Cycle in a Basel III World

By Brandon Wilhite Similar to virtually every other market, the commercial real estate market goes in cycles. Throughout much of the country, most product types Read more

Your Pad (Site) Or Mine?

By Charley Babb What once was an outlier real estate play has now become a significant commercial real estate asset class. Pad sites are much Read more

Cash Flow Management in Commercial Real Estate: CMBS Markets Post Great Recession

By: Josh Siegel The sub-prime mortgage crisis and recession of 2008 triggered a comprehensive restructure of the commercial mortgage-backed securities (CMBS) market. Between 2005 Read more

A Developer’s Best Friend: Tax Increment Financing (TIF)

By Duke Dennis Overview: What is a TIF? Tax Increment Financing (TIF) is a form of subsidy offered by municipalities to encourage and support private development Read more

Single Family Rentals: Commercial Real Estate’s Newest Frontier

By Justin Laub For those unaware, a new asset class has come into being in commercial real estate: single-family rentals.  Prior to the Great Recession, Read more

What is the Deal with FNMA and Freddie Mac??

By Todd McNeill There has been a lot of speculation going around on the current status of FNMA and Freddie Mac in the marketplace.  As Read more

RECON / ICSC 2015 Takeaway

By Scott Lynn What was the "MOOD" in Vegas this year? That is the #1 Question that colleagues and friends ask following the annual trek Read more

Retail Tenants in Mixed-Use and Lifestyle Developments: An Underwriting Paradox

By: Brandon Wilhite With the resurgence in interest in living in denser, urban walkable environments, development patterns across the country are shifting from single-use developments, Read more

The IRR Waterfall: Splitting Real Estate Profits - Lenders, Investors, and Developers

How can equity investors in commercial real estate transactions shield themselves from downside risk, provide enough incentive for the development partner, manage the upside, Read more

How to Turn a Dud into a Stud: Using Legislation to Reduce the Liability and Costs Associated With Groundwater Contamination

By Duke Dennis What do parties to a real estate transaction think when they hear that the property acquisition they have been working on has Read more

Who Says The Industrial Warehouse Real Estate Market Isn’t Sexy?

By Roger D. Wyche

With all the attention being paid to CRE announcements such as those from Toyota, Liberty Mutual, the Dallas Cowboys, Charles Schwab, State Farm, along with the plethora of multi-family and office projects going up in Dallas’ Uptown district, where is there room in the discussion for warehouse development in the North Texas/DFW commercial real estate market?

industrial warehouse commercial real estate

I started my CRE career leasing industrial warehouses where I quickly learned the importance of Warehouse/Distribution space in the economic food chain.  While not as sexy as a new twenty-story office building or new corporate campuses, most of the goods we buy daily at grocery stores, malls, restaurants, car dealerships, 7-11’s, etc., have been manufactured, stocked, and distributed to consumers from warehouses.

As the popular saying goes “Out of Sight, Out of Mind,” which summarizes the industrial warehouse market in the DFW area. Much of the available space is often tucked away in various “pocket” submarkets where the only traffic is employees going to work and the 18-wheelers delivering raw materials to manufacture products as well as picking up finished goods. This is where the rubber meets the payment for commerce in our economy.

Most people are unaware that there is approximately 800m s.f. of warehouse/distribution, manufacturing, and flex space available in the DFW market. There has been an additional 10.5m s.f. of new space delivered during 2015, yet the market occupancy rate for the entire DFW remains almost 94% occupied.  Space is being absorbed rapidly by major users such as BMW, Quaker Foods, Proctor Gamble, L’Oreal and Ace Hardware, to name a few.  These strong industry fundamentals continue to attract capital to the business for new construction, value add acquisitions and investment sales opportunities.

With Black Friday Christmas sales down and Cyber Monday sales headed to the stratosphere, the warehouse industry has quickly adapted to deliver mega fulfillment centers for online retailers and, let’s face it, EVERY retailer must have an online platform or perish.  Companies such as Amazon have leased over 2.7m s.f. in three locations in the DFW area employing approximately 3,000 since 2013.  Wal-mart has two fulfillment centers in the DFW market with approximately 1.6m s.f. dedicated to e-commerce.  Many other tenants will be scrambling to catch-up, creating numerous development opportunities for CRE developers and sponsors.

So, while the headlines are featuring the latest corporate campuses, office towers, and mixed-use centers being built in the Metroplex, one cannot overlook the healthy North Texas industrial market.

Metropolitan Capital Advisors is focused on advising our Clients on acquiring, constructing and recapitalizing industrial properties through its access to a variety of debt and equity capital providers.  Contact Roger Wyche or any of the MCA Team to learn more about how we can help capitalize your next warehouse/flex/industrial project or property acquisition.

The Author, Roger D. Wyche, is a Senior Director in the Dallas office of MCA.  Roger can be contacted at rwyche@metcapital .com

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Commercial Real Estate Capital Markets are Liquid; Development Accelerates During 2015

By Scott Lynn

Commercial real estate capital markets have gone full cycle since the depths of the Great Recession. Capital providers are now considering a wide variety of property types and transaction structures. The market is being driven by an abundance of favorably priced fixed or floating debt alternatives for income properties. 2015 was the fourth straight year of record high new CMBS and REIT Bond issuance. Institutions and Private Equity Investors continue to be flush with cash and eager to pursue new investment opportunities.  The capital markets are robust.

Commercial Real Estate Capital Markets

Lenders and capital providers pushing for extra yield/return are committing to construction and development deals. Over 70% of our 2015 production volume involved projects with a ground-up construction or redevelopment component. Capital providers from all corners of the globe and the game have returned to the market, including local, regional, national and international banks who have expanded their views of what they will consider while remaining prudent with respect to leverage.  Likewise, equity investors considering development deals as prices for “Value Add” opportunities have accelerated given the abundance of liquidity.

Notwithstanding recent interest rate headwinds, capital markets have remained stable enough to continue to allow borrowers to lock up favorably priced debt. Borrowers and investors have plenty of options when considering long-term financing with CMBS, life companies, banks and credit unions leading the charge on the most aggressive programs from a leverage or cost-of-capital standpoint.

During 2015, Metropolitan Capital Advisors arranged over $600,000,000 of new debt and equity transactions, our biggest year since 2006 signaling that the market has cycled back to an upswing over the past decade. MCA completed 83 assignments during 2015 that were placed with 37 different capital providers. Over $370,000,000 of this transaction volume was funded for development deals including urban mixed-use, hotels, office, senior living, medical, retail and single family lots. Geographic dispersion of our completed transactions was as widely diversified as the product type with almost 70% of our business closed outside of Texas.

As we enter 2016, MCA will celebrate its 24th year of continuous operation with over $12 billion of closed transactions since inception. MCA is a member of the Real Estate Capital Alliance (RECA), an association of eighteen real estate finance firms across the U.S. that expands our access to capital and increases our ability to execute assignments nationwide.

We thank our clients and capital providers for a successful 2015 and look forward to working with you throughout the upcoming year.

The author, Scott Lynn, is the founding principal of MCA. Email Scott at slynn@metcapital.com.

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Metropolitan Capital Advisors Arranges a $9,650,000 Acquisition Loan for a Plano Office Building

Metropolitan Capital Advisors, Ltd. (“MCA”) has arranged an acquisition loan for the Plano Parkway Business Center office building located in Plano, Texas.  MCA arranged the debt financing on behalf of a partnership sponsored by Steve Fithian and Tom Wilson.

 The Property is a 113,299 s.f. office building with tenants that include: Republic Title of Texas, Wizetrade, Teradyne, and Patient Physicians Network.  The Property is located near the northeast corner of Plano Parkway and Independence Parkway in Plano, Texas, an area that has become a well-known business corridor and home to several corporate headquarters including the State Farm Insurance campus.

PlanoOfficeBuilding

Kevan McCormack and Scott Lynn were responsible for arranging the $9,650,000 acquisition loan.

Since 1992, Metropolitan Capital Advisors has closed in excess of $2 billion of debt and equity transactions.  National Real Estate Investor Magazine has consistently ranked MCA as one of the top CRE Financial Intermediaries in the US.   MCA completed over $550,000,000 of commercial real estate financing during 2014 and has already closed over $600,000,000 of new transactions in 2015.

For Further Information Contact:

Karen Weaver

Metropolitan Capital Advisors, Ltd.

18111 Preston Road, Suite 650

Dallas, Texas 75252

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