and Science Inc.
When is the best time to
order due diligence?
The timing of “when to order” physical
due diligence services is often overlooked. When is the proper time within
a real estate transaction or site development to complete the appropriate due
diligence? Most real estate professionals
understand that the primary purpose of
environmental due diligence may be to
satisfy various criteria relative to regulatory liability. However, a certain advantage to conducting this due diligence
near the beginning of the transaction is
the ability to use the conclusions of various reports (ESA, PCA, Hazardous
Material Inspections, etc.) in making a
business decision as to whether a specific
site is a viable option. For example, if an
ESA report concludes that a specific parcel was formerly a gasoline station, then
that client may decide that the risk and
possible costs associated with further
evaluation and cleanup are too great.
Making this decision early in the process
allows the client to pursue alternative
sites while still achieving the goals of a
development or expansion schedule.
Check out Partner’s “The Science of Real Estate”
blog at globest.com/blogs/buildingsciences
Executive Managing Director
Stan Johnson Co.
How do you see retail net lease
shaping up in the next year?
New opportunity comes in a lot of different forms. We’re doing more sale
leaseback than we’ve ever done. Even
though the new development pipeline
has slowed down, we continue to secure
a lot of opportunity from merchant
developers. Probably the biggest yellow
flag for everyone continues to be the
economy. When there is very limited
employment growth, you just don’t see
people loosening the purse strings as
they otherwise would. You don’t see as
many new store openings. Until you see
employment gains, you won’t see a significant uptick in the net lease space or
in commercial real estate as a whole.
But even though there is limited supply,
there is incredible demand. There are
so many passive investors that are looking to real estate and want to own something where they can get their feet wet.
What else would you own besides a tri-ple-net-leased household name in the
retail space? If there is a bright spot in
commercial real estate, it’s in the net-lease sector in the retail space.
Stan Johson Company is a GlobeSt.com
Retail Net Lease Thought Leader.
Senior Vice President,
Global Real Estate Solutions
What is technology’s greatest
impact on the industry?
Mobility is a growing force, as is the acceptance of Cloud-based offerings. ARGUS is
focused on both; our Leasing Management
and the ARGUS Knowledge Vault solutions have some mobile capabilities that
are expanding. While Mobility and the
Cloud also figure prominently into our
plans for several new solutions launching
this summer, they are just different ways of
delivering solutions. ARGUS is focused on
developing solutions to our clients’ business issues which, when distilled down, are
improving efficiency and transparency in
response to the growing regulatory and
investor requirements, and firms’ desire
to better manage risk and perform strategic analysis. Our current and coming solutions address those issues. While some talk
about “integrated solutions” to address
the complexity of industry’s technology
requirements, ARGUS has taken what we
call an eco-system approach. The idea is
to focus on our core strengths and partner with other best-in-class technology and
data providers to deliver an optimized,
flexible, global solution.
ARGUS Software is a GlobeSt.com Retail
Technology Thought Leader.
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expert commentary and business advice from a variety of industry thought leaders. To learn more, visit: www.ALMRealEstateMediaGroup.com/ThoughtLeadership