The largest contiguous Class A office tower space for lease in New Orleans’ CBD is now available, according to Robert Hand, president of Louisiana Commercial Realty, who is co-marketing the office space with Maria McLellan, Associate Broker of Corporate Services with Gulf States Real Estate Services, LLC. The space encompasses four full floors at 1250 Poydras Street, located on the corner of Loyola Avenue and Poydras Street, in downtown New Orleans. The office space is

NEGOTIATE COMMERCIAL REAL ESTATE CONTRACTS WITH STRENGTH For investors and/or commercial brokers, negotiating a commercial real estate contract can be rather daunting. If done incorrectly, then the losses can be astronomical. It is critical that you know the key provisions of a commercial real estate contract and how to effectively negotiate terms. First and foremost, it is important to understand what your main objective of the negotiation will be. For example, is your objective to

POSTPONING TAXES WITH 1031 EXCHANGES The 1031 exchange, also termed the Starker exchange or tax-deferred exchange, allows you to sell investment property and to defer capital gains and depreciation recapture taxes. Assuming that you are reinvesting 100% of the equity into “like-kind” property of equal or greater value. “Like-Kind” property is any property held for investment purposes. The idea behind 1031 exchange is that when an owner has reinvested the sale proceeds into another property,

SALE CONTRACT PITFALLS   There will always be risks involved when purchasing a piece of investment property. However, the goal is to minimize these risks as much as possible. The following are several potential sale contract pitfalls you may want to avoid. It is critical that you find out if there are any defects in title before you sign on the dotted line. Since property is recorded in the form of a deed, research the public

  TRIPLE NET LEASE BASICS  A triple net lease, also known as a true net lease, is when the tenant or lessee agrees to pay all the taxes, insurance and common area maintenance expenses that arise from the use of the property, in addition to the basic rental space costs. In a triple net lease the tenant is also responsible for all costs associated with repairs or replacement of structural building elements of the property.

Even though large tracts of vacant land are scarce in New Orleans, it can be difficult to accurately value raw land. This article explains how sophisticated commercial property investors value land to determine if their development is feasible. How property is valued will surprise you. The value depends on how the site is utilized. It’s called highest and best use. A gas station is more profitable than a car wash, so it can pay more for

New Orleans East is an area with seven times the national population growth rate and an estimated 100,000 people with median household income of $43,000 who are underserved by businesses yet to come back to the area. An opportunity exists for retail businesses to come to the area and this report examines which businesses are in demand. Our analysis shows a current need for furniture stores, supermarkets, lawn and garden stores, sporting goods and clothing

New Orleans Commercial Real Estate is a diversified market with seven different sectors, each sector is different in size. The table below shows the major sectors of the New Orleans commercial real estate market, as well as the average asking prices and actual transaction price variance, and the number of days the property was on the market. Table of New Orleans Commercial Real Estate Sectors market statistics for new orleans commercial real estate Office Sector Trends Currently

Research shows the available space in the Metairie office/warehouse market is the smallest of the six major areas of industrial space in the New Orleans MSA, with just 47,540 square feet, or 1% of the total square footage of available space, as seen in the table and pie chart below.   Market Warehouse Availability (SF)  CBD 957,167 East New Orleans 716,028 Elmwood & South Metairie 1,188,729 Kenner 215,664 North Metairie 47,540 St. Charles & St.

In the wake of Hurricane Katrina, many New Orleans companies discovered too late that a Business Continuity Plan ensures operations can continue in the event of a disaster. New Orleans commercial real estate firms were especially affected since their continued operation was vital to businesses getting back on their feet by securing new office and distribution space. Large companies have a detailed plan to protect the data on their computer servers but thousands of small firms can use

If you operate a bar or music venue, you already realize the fire marshal can close down your business for a variety of reasons. For example, the allowed capacity is one person for every 7 square feet of space if the property is sprinklered, or 142 people per 1,000 square feet. Property not sprinklered requires 15 square feet per person, or a capacity of 66 people per 1,000 square feet. Even the juke box at F and M’s on

The C-1, Commercial, Zoning Designation Means Different Permitted Uses In Orleans and Jefferson Parish You would think if a property in Orleans Parish has the same zoning designation as a property in Jefferson Parish, that the permitted use would be the same. Logical, but not true. In Orleans Parish, the C-1, Commercial, zoning designation allows residential, single-family development, but in Jefferson Parish, new single family development is not allowed. You have to read the Jefferson

Trading System Signals There are 13 basic tools using technical analysis that can assist you in investing. These tools of technical analysis, combined with fundamental analysis, could give you more confidence in decision-making. 10 Day Moving Average Long/Short Signal The 10 Day Moving Average Long/Short signal is designed to identify stocks that are technically sound and whose price has retraced to within 1% of its 10 day moving average. This condition is typically a good

Definitions of FEMA Flood Zone Designations Flood zones are geographic areas that the FEMA has defined according to varying levels of flood risk. These zones are depicted on a community’s Flood Insurance Rate Map (FIRM) or Flood Hazard Boundary Map. Each zone reflects the severity or type of flooding in the area. Moderate to Low Risk Areas In communities that participate in the NFIP, flood insurance is available to all property owners and renters in these

Is Jack Welch right in his claim the 7.8% #unemployment numbers released on October 5 by the Bureau of Labor Statistics are suspect?  The numbers show there are 133,500,000 nonfarm workers employed as of September 2012. There are actually two surveys performed, one is called the Household Survey which is also reported as the Adjusted Household Survey ( smoothed for population control revisions) and the second survey is called the Payroll Survey. Over the last

The growth rate of the economy is slowing, according to the latest figures released from the Bureau of Economic Analysis. Back in August 2013, personal income grew at .5% and then is September grew at .4% but then in October, November, December started to wane with December’s growth less than .1 percent. This means we should prepare for a slower growth economy and possibly a stagnant one to come over the next 12 months. Personal

The total supply of commercial real estate for sale in New Orleans is approximately $726,000,000 with vacant land being the largest sector valued at almost $242 million, followed by office property valued at $175 million. There are two databases that house information on most of the commercial property for sale in the New Orleans area. The largest, Loopnet.com, claims to have 3,000,000 registered users nationally who spend an average of twenty minutes searching through 640,000 listings.

Commercial real estate in New Orleans is often valued incorrectly which can be a disaster, but it also creates opportunity: big money is made when you understand how to value commercial real estate correctly.  This article examines three basic mistakes anyone can make when valuing commercial real estate. The first mistake commercial real estate buyers and sellers make is to depend on appraisals, whose main function is to finance the property by allowing a bank committee to say

Louisiana will be exploding with growth over the next 5 years, considering the incentives offered for businesses. For example, there is a 25% tax credit that can be sold for digital media expenditures. That is a dollar-for-dollar tax credit. There is a 50% bonus depreciation and tax exempt financing at a 2% interest rate. There is a tax credit for live performances up to 25% of expenditures. There is a tax credit of 30% which

Kenner is like most zoning authorities in that they want to spell out in zoning ordinances exactly what is allowed, such as areas for blacksmithing, macaroni making, manufacturing of looseleaf paper, thermometers and wire brushes. Zoning codes also detail some silly permitted uses. This article compares the industrial zoning codes and clears up the confusion. Kenner, Louisiana, has its own zoning ordinance-separate from Jefferson Parish. The three main industrial zoning codes are Light Industrial, Heavy Industrial Zoning, and also

pie chart revenue source State Government Expenditures Exceed Revenues for the Third Time in the Last Four Years  “A large part of the decrease in the federal grants revenue was due to the temporary nature of funding provided through federal stimulus money beginning in mid-2009,” said Lisa Blumerman, chief of the Census Bureau’s Governments Division. “The 2012 Census of Governments captures the third fiscal year since the beginning of the infusion of stimulus money.” General

Yes there is a National Research Center. They partnered with Ohio State to study how analysts’ earnings changes affected stock performance. Bottom line is if market is in the dumps, poor earnings estimates by analysts don’t affect stocks as much as when in a up market.

Partially complete Bedico Creek up for sale 1:00 am Fri, October 31, 2008 POSTED: 01:00 AM Friday, October 31, 2008 BY: CityBusiness staff reports METAIRIE – Bedico Creek, a golf and country club development in Madisonville, is back on the market because of foreclosure, said Robert Hand, president of Louisiana Commercial Realty who was marketing the property. Robert Hand, president of Louisiana Commercial Realty   Sealed bids are due Nov. 28. The 938-acre site south of

Audubon Building’s new owner plans boutique hotel 4:04 pm Wed, June 2, 2010 POSTED: 04:04 PM Wednesday, June 2, 2010 BY: CityBusiness staff reports TAGS: Audubon Building, Mark Wyant,  Robert Hand 931 Canal Street A former condo project along the Canal Street corridor is being converted into what the developer calls an “upscale boutique” hotel. The eight-story structure at the corner of Burgundy Street next to the Ritz Carlton will become the 180-room Hotel Indigo.

Property value disputes delay eastern N.O. stores 8:51 am Thu, March 31, 2011 POSTED: 08:51 AM Thursday, March 31, 2011 BY: Ben Myers, Reporter New Orleans City Business TAGS: Associated Wholesale Grocers, Charles Ciaccio, David Smith, Fresh Food Retail Initiative, Karen Parsons, Lake Terrace Center, Meme’s Market, Oak Park Civic Association, Re/Max Commercial Brokers, Robert Hand, Social Compact Grocer Charles Ciaccio says he has signed a lease to open a store at the defunct Lake

Announcing the 2012 Money Makers 6:00 am Thu, August 2, 2012 POSTED: 06:00 AM Thursday, August 2, 2012 BY: Christian Moises, News Editor New Orleans City Business CityBusiness has announced its 2012 Money Makers honorees, recognizing 50 financial professionals whose fiscal work, accomplishments and achievements have not only set the pace for their company but the regions as a whole. INVESTMENT Leonard Alsfeld Mary Margaret Brewer David Capo Don Celestin Jr. Jack Dardis Emmett Dupas

Broker wants bargain price for Canal Street Hotel 2:39 pm Mon, August 13, 2012 POSTED: 02:39 PM Monday, August 13, 2012 BY: Ben Myers, Reporter New Orleans City Business TAGS: Canal Street Plaza Hotel, Matt Garafolo, Robert Hand, Suites at New Orleans LLC, U.S. Hotel Appraisals Updated: 10:30 a.m., Aug. 15 At least one broker believes the owner of the Canal Street Plaza Hotel is asking far too much to sell the property. Robert Hand

Speculators could be behind NOLA commercial property bump 12:57 pm Fri, November 16, 2012 POSTED: 12:57 PM Friday, November 16, 2012 BY: Ben Myers, Reporter New Orleans City Business TAGS: commercial property, New Orleans, office, retail Office and retail space in the New Orleans region is moving with increased frequency, and many of the properties changing hands through sales and leases have lingered on the market for greater-than-normal periods of time, according to data provided

Q&A with Robert Hand, Louisiana Commercial Realty 4:55 pm Tue, November 20, 2012 POSTED: 04:55 PM Tuesday, November 20, 2012 BY: Ben Myers, Reporter New Orleans City Business TAGS: industrial, listings, Louisiana Commercial Realty, Louisiana Commercial Realty, New Orleans commercial real estate, office, retail, Robert Hand, speculator, speculators, vacant land Office and retail space in the New Orleans region is moving with increased frequency, and many of the properties changing hands through sales and leases

  Brokers predict deliberate progress on Tulane Avenue 1:13 pm Wed, May 15, 2013 POSTED: 01:13 PM Wednesday, May 15, 2013 BY: Robin Shannon, Reporter New Orleans City Business TAGS: Avery’s Po-Boys, Finn McCool’s, Greater Mid-City Business Association, Justin Pitard, Louisiana Commercial Realty, Pauline Patterson, Re/Max Commercial Brokers, Richard Juge, Robert Hand, Stephen Patterson, Treo, Tulane Avenue Business owners along Tulane Avenue are optimistic that the 2-mile stretch between Carrollton and Loyola avenues is primed

Office forecast calls for continued high rent, occupancy POSTED: 12:03 PM Wednesday, January 8, 2014 BY: Robin Shannon, Reporter TAGS: Bruce Sossaman, CBD, commercial real estate, Corporate Realty, Louisiana Commercial Realty, Metairie, New Orleans, office, One Shell Square, Robert Hand, Robin Shannon, Shell, URS Commercial real estate agents in the New Orleans area say the Metairie and Central Business District office markets will strengthen in 2014 as occupancy rates and average rents continue to increase

Sprawling apartments still trouble eastern N.O. 3:21 pm Tue, October 19, 2010 POSTED: 03:21 PM Tuesday, October 19, 2010 BY: David Muller, Staff Writer New Orleans City Business TAGS: Bern-Mas Apartments, eastern New Orleans, Eastern New Orleans Neighborhood Advisory Commission, Graham Little, Greater New Orleans Multi-Family Housing Report, Jon Johnson, Lake Forest Shopping Center, Methodist Hospital, Mitch Landrieu, Robert Hand, Tangee Wall, Village de Jardin, Worthy Place Apartments A Realtor trying to sell the largest

Orleans Parish Commercial Real Estate The commercial real estate market in Orleans Parish is currently 3.1 million square feet for lease and 3.7 million square feet for sale with a sale price of 266 million. The office category comprises the largest sector at approximately 50% of the space for sale or lease, followed by retail, shopping centers, industrial, land and multi-family with the smallest supply on the market. orleans market pie          

The best way a business can stay competitive is to utilize incentives offered by state and local governments. Louisiana offered tax credits to the movie industry several years ago and the result was a subsequent explosion in movies made here and a boost to the economy from payroll and visibility driving demand toward our tourism industry. In Louisiana, tax credits were targeted to filmmakers, and by the end of the 2000’s, the incentives helped establish Louisiana

Three trends emerged in the commercial real estate office market in the New Orleans area in 2013.   Trend #1-Orleans Parish office space leased and sold faster than ever before, at an average 35 days on the market versus an average of 274 days the last 12 months. Trend #2-Orleans Parish office space for sale increased 54% as market imbalances pull demand from Jefferson Parish to Orleans Parish. Trend #3-Jefferson Parish office space for lease

The preliminary employment numbers are just now in from the Bureau of Labor Statistics, and they show Louisiana added 30,800 jobs for the 12 month period ending October 2013. Employment in Louisiana for the 12 months ending October 2013 grew from 1,935,700 to 1,966,500. The table below shows the states with statistically significant employment changes, seasonally adjusted. Table of States With Significant Employment Growth Last 12 Months employment october 2013 LA   Not All Regions Prospered

One of the most important indicators of how the U.S. economy is doing is personal income because it shows the potential spending power of the consumer which drives 2/3 of the economy with manufacturing now driving only 1/3 of the economy. Today the Bureau of Economic Analysis released data on how personal income changed for the most recent period, July 2013 to August 2013. Personal income increased $57.2 billion, or 0.4 percent, and disposable personal income

Just out today is the Bureau of Economic Analysis report on GDP by MSA, showing last year the New Orleans-Metairie economy grew almost twice the average pace at 8.0% compared to the U.S. at 4.09%. Chart of New Orleans GDP, Current Dollar Percent Growth The New Orleans MSA was one of 305 Metropolitan Statistical Areas that experienced positive real growth in Gross Domestic Product in 2012, out of 381 MSA’s.   Largest Areas With Fastest

Just out today are the numbers on how many people are employed in the U.S., but if you drill deeper, you can find out current employment data on Louisiana and also the New Orleans MSA. Looking at employment growth provides a snapshot of consumer spending driving economic growth and can help you plan a wide variety of business decisions such as: commercial real investment, inventory size, payroll expansion or contraction and new location demand.  U.S. Employment

Today the Bureau of Labor Statistics announced the unemployment numbers for the period ending July 2013 broken down into the 372 metropolitan areas. Jobless rates were lower in July than a year earlier in 320 of the 372 metropolitan areas, higher in 38, and unchanged in 14. Forty-one areas had jobless rates of at least 10.0 percent, and 34 areas had rates of less than 5.0 percent. Over the year, 319 areas had increases in nonfarm

Tulane Avenue is transitioning from a mixture of businesses operating out of shotgun houses, outdated hotels, bars, auto repair shops and bail bondsmen to a neighborhood of new multi-million dollar apartments and retail centers. This process is technically called “gentrification”, where commercial real estate undergoes a change to a higher and better use. Recently, the Time-Picayune newspaper discussed the changes in commercial real estate on Tulane Avenue with Louisiana Commercial Realty’s president, Robert Hand.   Times Picayune Interviews Louisiana

The last few years have been good to New Orleans, with lower unemployment than the rest of the U.S. and the focus on tourism resulting in jam-packed restaurants and hotels. But it hasn’t always been this way. What is really interesting is, how does the New Orleans’ economy compare to the rest of the U.S.?  This article looks at the New Orleans economy and compares it to the U.S. economy and explains not only the driving forces

The latest apartment to be developed near the new Tulane Avenue hospital is announced. Despite the fact that everyone knows about the billion dollar VA/LSU hospital complex, which is the largest new hospital development in the US-being built on Tulane Avenue-only now has a developer stepped forward to convert a nearby vacant building into apartments. The building is the 17 story, 130,000 square foot building at 144 Elk Place, previously thought to be in a poor location: not close enough

The numbers are out, but the numbers behind the published numbers will startle you. Yesterday the Bureau of Labor Statistics released the latest numbers on national unemployment rate; but the government also released numbers on Metropolitan Statistical Areas which include New Orleans and is included in this analysis. What Are Metropolitan Statistical Areas? The Office of Management and Budget defines statistical areas for the metropolitan and micropolitan areas of the United States and Puerto Rico.

The past few months have witnessed several large commercial real estate transactions in New Orleans, including hotels, retailers and warehouses, emphasizing that New Orleans is a diverse market with buyers who have confidence in the future of commercial real estate and are willing to invest millions. Recently there were 14 big money transactions  in New Orleans commercial real estate, and here are the specifics: Lake Forest Plaza Sells Lots to CVS When he is not spending time

Of those that own commercial real estate, there are more assets in rental property than in IRA’s, 401(k)’s and the median net worth of Americans. In the 2010 census, Americans were asked where they invested their money. Of the 118.554 households , the largest category of asset was the Interest Earning Account at a Financial Institution, with 69.8% of the households investing in that category. The second highest category was asset was a home at

The West Bank was not affected by Hurricane Katrina, except that the population increased dramatically there and apartment occupancy skyrocketed. One beneficiary was 94 percent occupied Baywood Apartments, previously Carlyle Apartments, which was sold last month for $18,000,000. The buyer was not local, a real estate investment company in California called Delta Alliance, founded by Robert Warren with a typical started at the bottom pedigree: President of Investor Property Services (IPS), a 30 year old

Drugs are a big money business. Especially legal drug stores like Walgreens. Who else could justify paying $94 per square foot for land and a beautiful building only to demolish the building? That’s New Orleans commercial real estate at work utilizing the principal of highest and best use. The result is the most profitable businesses can make it feasible to acquire the best locations, driving the price to new market levels. Here is a secret to successful

For Immediate Release New Orleans Commercial Real Estate Professional Discusses Tourist-Oriented Markets New Orleans — March 29, 2013 — Robert Hand, CCIM, president of New Orleans based Louisiana Commercial Realty, discusses commercial real estate activity in tourist-oriented markets in the March/April issue of Commercial Investment Real Estate, the magazine of the CCIM Institute. Robert explains the challenges of commercial real estate development for local a vacant 8-story building on Canal Street, which is now called