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Building Successful Relationships

Monthly Archives: September 2017


Tips for Furnishing a New Office

Tips for Furnishing a New OfficeLet’s explore some cost effective tips for furnishing a new office. Working conditions play a significant role in the output of one’s work. There is no secret that your mood and overall productivity are impacted by your surroundings. Whenever you either walk into work or relocate to a new facility, you’ll want an office space that keeps your employees/staff happy, engaged, and focused. Here are some ways to furnish your new office that won’t break the bank:

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When Furnishing a New Office: BUY PRE-OWNED:

Generally, the highest cost associated in designing an office comes from the office furniture itself. If you are on a tight budget, we highly recommend that you consider pre-owned or certified preowned. That’s where we come in. At Boomerang, we specialize in pre-owned and new office furniture for businesses. We take unwanted or gently used office furniture and add our creative refurbishing techniques to make your furniture seem new.

When Furnishing a New Office: DETAILS ARE EVERYTHING:

The first step to consider before buying office furniture is to get a better understanding of what your space is and what your space is not. Setting a proper budget includes designing a layout and location of each office and cubicle that is conducive to your work environment. This will help to avoid any unforeseen circumstances which may occur in the future. Furnishing ultimately depends on your budget and the industry you operate in, that’s why we recommend hiring professionals to design your space.

When Furnishing a New Office: BRING THE OUTSIDE…IN:

Indoor plants and flowers are known to improve productivity and the general mood amongst employees. You can use a variety of plants which survive year round with little to no maintenance. If indoor plants sound bothersome to you, then you can always try to make the best use of your windows. Using the ledges can make your working place feel more at home and can even lower anxiety. Furniture that uses untreated wood or live edge wood tables can also help in creating an outdoor feel in the office. The idea is to stay close to nature.

When Furnishing a New Office: ADD A SPLASH OF COLOR:

Sometimes small upgrades tend to have much more impact than a huge renovation. A splash of bright colors will do wonders. Putting beautiful colors on the white walls of your office will make your office vibrant creating a positive and productive atmosphere.

When Furnishing a New Office: END WITH A CREATIVE FLAIR:

You should use modern technologies and “fun” items to give the finishing touch to your office space. Add fun creative items like pictures, a creative wall, drawings, murals, or even millennial items into your office. Pending on the type of business you have, it’s important to make your working environment fun! Adding items that work well for millennials such as ping pong tables, pool tables, and other recreational pieces. We hope you consider each tip when you furnish your next office.

FOR MORE INFORMATION CONTACT:
Josh Smargiassi: Principal

6950 Sherman Lane
Pennsauken, NJ 08110
P 856.582.0100
F 856.582.0104
www.boomerangofficefurniture.com

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5 Self-Defense Tips for Realtors

Self-Defense Tips for RealtorsLet’s look at some self-defense tips for realtors. As in any job, but especially in real estate, agents have the possibility of being confronted with the threat of physical attack Unfortunately, the majority of employees are typically armed with little to no self-defense awareness. In fact, in a recent survey conducted by the National Association of Realtors, 40% of the respondents reported that they had experienced a situation that made them fear for their personal safety or safety of their personal information while on the job. Below, we’ve outlined 5 self-defense tips for realtors that can help all real estate agents protect themselves while on the job.

Download Printable PDF Article >>>

1. Unlock the doors and perform any safety checks prior to your prospect’s arrival. Make sure all exits are unlocked and clear of obstacles.

2. Never walk into a property first. You already have the door unlocked and open. Step aside and allow your prospective buyer to go in first. If you walk in first, it’s easy for your would-be assailant to lock the door behind him and proceed with the attack.

3. Maintain a personal comfort zone. There is no reason for a person to be within 3 feet of you at any time without permission. If attacked, stand your ground. You are far less likely to survive an attack if the perpetrator moves you from one location to another. Don’t let an attacker force you into a car, as this will decrease the chances of emergency responders finding you with enough time to save your life.

4. Breathe. This is often the first thing people forget to do in an assault. The easiest way to prevent this is to start yelling. Yell at the attacker to stop. Yell at them to go away. Or simply yell “NO!” Target sensitive areas. There are several areas of the human body that are very sensitive to attack. Pinch together all five fingertips of one hand and go straight for the eyes. If the attacker is behind you, jab your elbow into the face, throat or pit of the stomach.

5. Take a self-defense class. You can never be too prepared in an attack. Learn the most effective ways to fend off an attacker from a trained professional. At the end of the day, the most important point is that you make it out alive.

If you are interested in learning more about these and other self-defense tips for realtors, please contact:


Mike Andrus

Personal Security Expert
Guard Llama
MAndrus@guardllama.com
(215) 370 -1650
www.guardlama.com

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SECOND ANNUAL WCRE CELEBRITY CHARITY HOCKEY EVENT RAISES $65,000

charity hockey event

In its second year,  built on the remarkable success of last year, this time raising $65,000 to be shared by several charitable causes. The game, which was played At the Flyers Skate Zone in Voorhees this past Saturday, is the brainchild of Philadelphia Flyer legend and WCRE director of strategic relationships Brian Propp. Blending community fun with sports fantasy camp, he brought several Flyers fan favorites back to the ice for a game alongside thirty area business leaders. Over its two years, the game has raised some $112,000 for The WCRE Foundation.

Joining The WCRE Foundation for a second year were former Flyers Brian Propp, Doug Crossman, Kjell Samuelsson, Andre Faust, Todd Fedoruk and Ray Allison. Philadelphia Sports Hall of Fame inductee Lou Nolan, public address announcer of the Philadelphia Flyers, served as emcee. This year Kerry Fraser served as referee. Fraser was a referee in the NHL for 30 seasons, including officiating 12 different Stanley Cup Finals series.
All proceeds from the event will be shared among the CARES Institute at Rowan University, the Jewish Federation of Southern New Jersey, the Alzheimer’s Association Delaware Valley Chapter, the American Cancer Society, YMCA of Burlington and Camden Counties, and Samaritan Healthcare and Hospice. Each of these organizations benefits from WCRE’s long-standing practice of donating a portion of its proceeds from every transaction to an area charity. Learn more about this program at https://wolfcre.com/community-commitment/.

“Last year we saw what was possible, and this time we had more sponsors, more spectators, more raffle prize donations, and more money going to our excellent charitable partners,” said Jason M. Wolf, founding principal of WCRE. “It is a credit to our friends, neighbors, and business associates that we are able to come together to improve the lives of others.”

See a video recap of the game featuring comments from the participants, sponsors, and beneficiaries below:

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About WCRE

WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, retail, medical, industrial and investment properties in Southern New Jersey and the Philadelphia region. We provide a complete range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals, our commitment to the community, and our highly personal approach to client service, WCRE is creating a new culture and a higher standard. We go well beyond helping with property transactions and serve as a strategic partner invested in your long term growth and success.

Learn more about WCRE  on Twitter & Instagram @WCRE1, and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at www.southjerseyofficespace.com, www.southjerseyindustrialspace.com, www.southjerseymedicalspace.com, www.southjerseyretailspace.com, www.phillyofficespace.com, www.phillyindustrialspace.com, www.phillymedicalspace.com and www.phillyretailspace.com.

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The Bridge Loan – When To Consider Bridge Lenders

bridge-lenders-bridge-loansLet’s explore bridge lenders, bridge loans and when they are appropriate. When in the market for Commercial Real Estate Financing today, a borrower is faced with extensive options to consider. The traditional lenders like banks, Wall Street conduits and life insurance Companies are active and in the market in a big way, but have very precise parameters in terms of how much they will lend, to whom, and how quickly. The implementation of Dodd-Frank regulation is mostly complete and the overlay of the Basel III (Potentially Basel IV) International Banking reform initiatives have created a fairly material void for borrowers seeking loans from conventional sources on transactions that are perceived to be on the outer range of the risk spectrum.

View Printable Article (PDF) >>>

Enter the Bridge Lenders:

So, you are a seasoned real estate investor who has a unique opportunity to acquire a property in a market you believe know better then anyone and you have the inside track on the deal, but there is an “issue” or “story” that has caused the traditional banking relationships you have spent years cultivating to say no to your request for some reason or offer terms at extremely low leverage. Drop the deal? Pay cash? It may be time for a bridge loan…….

Reasons to Consider a Bridge Loan

Speed – You have to close quickly. Bridge Lenders don’t have long approval processes and don’t have to answer to federal regulators or credit committees so they can move fast. Some can close in a fast as a week. A bank or traditional lender can almost never perform that quickly.

Leverage and Debt Service Coverage – Bridge lenders are typically willing to listen to a “story” surrounding the collateral they are lending against. As a result they may lend up to 80% of value and don’t rely as heavily on appraisals as traditional lenders. The people running the firms that make Bridge Loans are often entrepreneurs and seasoned real estate investors themselves and they understand the business plan and the property’s potential, again the “story”. Many bridge lenders are willing to lend down to a 1.0-1.10 Debt Service Coverage Ratio (DSCR) while most traditional lenders require 1.20- 1.30 DSCR.

Major Event– Perhaps there is an event like a near term material tenant expiration in the rent roll, a management change, a significant capital improvement item which will drive rents or the transition form a “mom and pop” owner to a more institutional caliber firm that will drive NOI? Due to the fact that the aforementioned event(s) has not occurred yet, it’s probably too early to lock in permanent financing which may carry pre-payment penalties and not have the benefit of the future NOI growth needed to qualify for maximum proceeds. Bridge loans typically carry a 1-3 year term which allows time for stabilization to occur before approaching the permanent loan market and locking in. The most important thing to a bridge lender is getting repaid, so they will focus most heavily on the path to stabilization and how realistic they believe the plan and its timing to be.

Borrower Limitations – If the borrower is unable to qualify for traditional financing because their past issues, credit, net worth or liquidity are not consistent with the perceived risk of the transaction, a bridge lender may be willing to consider the loan request.

How much can I borrow?
• There are bridge loans available from $500,000 to $100,000,000.

How much do bridge loans cost?
• Typically we see loans price on a risk adjusted basis, between an interest rate of Libor+550 & Libor+1100. Bridge
Lenders also typically charge origination points between 1% and 3%. Like most loans, the borrower will be expected to cover any costs relative to closing the transaction (legal, appraisal, other 3rd parties etc.).

Who are these bridge lenders?
• There are many Bridge Lenders in market today who are all attempting to fill the large gap left by the recent banking regulations mentioned earlier. Some have called them “Shadow Banks” and they are often grouped into the “Hard Money Lender” category, which may or may not be correct given the specific lender. The group is comprised of dedicated debt funds, private equity groups, family offices, high net worth individuals, mortgage REITS and other fiduciaries that will all consider making bridge loans. Their parameters differ in terms of geography, loan size and asset class. There are easily 50 firms that we speak with fairly regularly.

SUMMARY:
• Bridge loans are readily available for tougher “story” deals.
• Term is 1-3 Years
• Rate is L+550 – L+1100 plus 1-3% Origination Fee payable to lender.
• LTV/LTC up to 80%
• Proceeds of $500,000 to $100,000,000

chris datzChris Datz
President & CEO
Datz Real Estate Capital
(610) 585-2586
rcd@drealcap.com
www.drealcap.com

For more information, contact:
Datz Real Estate Capital is a capital advisory firm which arranges debt, joint venture equity and subordinate debt for real estate transactions across the United States for all asset classes.

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Philadelphia Hockey Legends Return to the Ice for Celebrity Charity Hocky Game

WCRE brings popular stars back for an exhibition game in support of several local causes

WCRE Celebrity Charity Hockey Game

Wolf Commercial Real Estate (WCRE) announces its second annual Celebrity Charity Hockey Event, in which several former Philadelphia Flyers will play alongside area business leaders to raise money for a variety of local causes. All proceeds from the event will be shared among six area charities: The Rowan Medicine CARES Institute, the Alzheimer’s Association of the Delaware Valley, the American Cancer Society, the YMCA of Burlington & Camden Counties, the Jewish Federation of Southern New Jersey, and Samaritan Healthcare & Hospice.

WHO: Philadelphia Hockey Legends Doug Crossman, Chris Therien, Kjell Samuelsson, Andre Faust, Todd Fedoruk, and Brian Propp (who is also Director of Strategic Relationships at WCRE). Lou Nolan, the legendary public address announcer of the Philadelphia Flyers, more than 30 local business leaders, and 85 sponsors.

WHAT: See six former Flyers back on the ice, playing alongside our friends and sponsors. The game will be followed by dinner and an auction to raise even more money for these great organizations.

WHEN: Saturday, September 16, 2017

  • Celebrity Charity Hockey Game begins at 5:00 P.M.
  • Dinner and auction at 7:30 P.M.

WHERE: The game will be at the Flyers Voorhees Skate Zone, 601 Laurel Oak Road, Voorhees, New Jersey

Dinner and auction will be at Victory Bar & Grill, 795 Route 73, Berlin, NJ

WHY: WCRE is passionately committed to the health, well-being, and success of the people of this region. We work closely with all of the charitable organizations who will benefit from this game as part of our Community Commitment initiative, and encourage our associates and clients to do the same. The firm donates a portion of the proceeds from each transaction to a charity of our client’s choice. Learn more about our Community Commitment at https://wolfcre.com/community-commitment/.

MORE: Visit our ticket link for more information. http://bit.ly/2tWu5U3  (Members of the media covering the event do not need a ticket.)

About WCRE

WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, retail, medical, industrial and investment properties in Southern New Jersey and the Philadelphia region. We provide a complete range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals, our commitment to the community, and our highly personal approach to client service, WCRE is creating a new culture and a higher standard. We go well beyond helping with property transactions and serve as a strategic partner invested in your long term growth and success.

Learn more about WCRE online on Twitter & Instagram @WCRE1, and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at www.southjerseyofficespace.com, www.southjerseyindustrialspace.com, www.southjerseymedicalspace.com, www.southjerseyretailspace.com, www.phillyofficespace.com, www.phillyindustrialspace.com, www.phillymedicalspace.com and www.phillyretailspace.com.

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A Quarter of Houston CRE Properties Suffer Flood Damage

As the flood waters continue to recede in Texas and Louisiana, officials caution the storm waters continue to pose threats to life and property. However, the region is shifting into recovery mode and beginning to take a full measure of the unprecedented destruction brought by Hurricane Harvey.

An assessment of the potential impact of the epic storm on the Houston commercial real estate market indicates 27 percent of the market’s gross leasable area, representing approximately $55 billion in property value, was likely affected by flooding.

This report is being offered through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm, based on information collected and studies conducted by the by the CoStar commercial real estate information company.

Included in the estimated is 175 million square feet of commercial real estate market space located within the Houston metro’s 100-year flood zone that appears to have been inundated by the epic floodwaters, including some 72,000 apartment units and 20 million square feet of office space.

Harvey, which first made landfall at Rockport, TX, as a Category 4 hurricane early August 26 and then stalled over the Texas coast, broke all records to become the wettest tropical cyclone in the contiguous United States. Weather experts have estimated that through the middle of last week, the storms had dumped an estimated 20 to 25 trillion gallons of water on Texas and Louisiana.

The greater Houston commercial real estate market ranks as the sixth-largest metro area in the U.S. by total CRE space at 1.6 billion square feet. According to CoStar data as presented Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm, $16 billion of the $55 billion in property at risk is comprised of apartment buildings within the 100-year flood zone.

The densely populated Southwest Houston submarket segment of the overall Houston commercial real estate market, home to more than 66,000 apartment units, is likely to be the district most affected by flooding. Nearly 30 percent of the submarket’s apartment units are estimated to be impacted, with the Braeburn, Greater Fondren and Sharpstown neighborhoods having the largest number of units within the 100-year flood zone.

For more information about Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm specializing in Philly office space, Philly retail space, and Philly industrial space, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings, Philly office space, Philly retail space, Philly industrial space, and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.

If you are looking for Philadelphia commercial real estate listings and services – including Philly office space, Philly retail space, and Philly industrial space – Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

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WCRE Expands Philly Team with Joe Nassib

Wolf Commercial Real Estate (WCRE) is pleased to announce the hiring of Joe Nassib as the firm’s newest sales associate. Nassib is a former commercial construction project management specialist who will be a valuable partner to clients seeking expertise in development and understanding the potential of a space. Nassib will work closely with WCRE’s team of sales professionals to generate new business relationships and create opportunities for clients in Philadelphia and its suburbs.

For four years Nassib was a defensive back and special teams player for the Syracuse University Orange football team. He began as a walk-on, and through his perseverance, earned a scholarship and appeared in more than 40 games. He will bring this same type of tenacity and commitment to his clients at WCRE.

Download Press Release (PDF) >>>

“We believe Joe has a lot of potential as a sales associate, combining what he knows about commercial development with his can-do competitive spirit,” said Jason Wolf, founder and managing principal of WCRE. “I’m thrilled to welcome him to our company.”

About WCRE

WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, retail, medical, industrial and investment properties in Southern New Jersey and the Philadelphia region. We provide a complete range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals, our commitment to the community, and our highly personal approach to client service, WCRE is creating a new culture and a higher standard. We go well beyond helping with property transactions and serve as a strategic partner invested in your long term growth and success.

Learn more about WCRE on Twitter & Instagram @WCRE1, and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at www.southjerseyofficespace.com, www.southjerseyindustrialspace.com, www.southjerseymedicalspace.com, www.southjerseyretailspace.com, www.phillyofficespace.com, www.phillyindustrialspace.com, www.phillymedicalspace.com and www.phillyretailspace.com

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Chinese Government Moves to Reduce Overseas Real Estate Investments

The U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space –  could soon find out what happens when the government of the world’s largest country tightens the spigot on overseas investments from its citizens.

Last week, the State Council of the People’s Republic of China officially announced measures to curb outbound investment – a move Chinese officials had been hinting at all year.

Announcing the new measures were intended to promote the “healthy growth of overseas investment and prevent risks,” the new directives from China’s State Council cover all overseas investments including U.S. and Philadelphia commercial real estate properties, companies, and projects.

This report in relation to national and Philadelphia commercial properties is being offered through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm, and was provided by the CoStar commercial real estate information company.

Prominently featured on the restricted list of the new investment guidelines now in effect worldwide – and in the U.S. and Philadelphia commercial real estate markets – are real estate, hotels, casinos, entertainment, sport clubs, outdated industries, and projects in countries with no diplomatic relations with China, as well as “chaotic regions” and nations that should be limited by bilateral and multilateral treaties concluded by China.

In addition, China said it would redirect overseas investment currently in national and Philadelphia commercial real estate listings specifically to support the framework of its 2013 “Belt and Road Initiative.” More specifically, China said it would encourage domestic investors to put their money into eligible projects in Southeast Asia, Pakistan and Central Asia, and beyond to the Middle East, Europe and Africa. The State Council said it would encourage companies to invest up to $1 trillion in that initiative, with the goal of strengthening China’s trade links in those regions, which have surged this year.

Mergers and acquisitions by Chinese companies in countries that are part of the 68 countries officially linked to the Belt and Road Initiative – and are not among U.S. and Philadelphia commercial real estate listings – totaled $33 billion year to date, surpassing the $31 billion tally for all of 2016.

At the same time, Chinese investment in the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – has plunged by 50 percent in the first half of 2017. However, despite the huge drop, the amount of Chinese money flowing to the U.S. is still likely to be the second-highest for Chinese investment in the U.S. on record, including mergers and acquisitions, it was reported.

For more information about Philly office space, Philly retail space and Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly office space, Philly retail space or Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

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