There is a merger expected to join West Grove and New Garden police departments in January 2017. It is said that this is in an effort to economize the police department to scale, so that they can improve and enhance their services to the local communities. At this point, New Garden is said to be bearing the brunt of the costs at a liability of 80% while West Grove, a smaller municipality will be responsible for 20% of the costs. It is the hope that a “larger operation” would stabilize coverage and improve investigations. There is talk of a new facility as well, but no concrete detail on that as of yet. Read more via the link provided below.
It seems that a crop surplus has led to a 14-year low in agricultural industry profits according to Bloomberg. The amount of debt that farms have taken on is said to be the highest in the last 30 years.
The banks don’t want to give out anymore loans unless they are secured by land. This has caused an influx of interest in the USDA program which was originally designed to be a last ditch effort, not a standard. Enter in the statistically consistent problem with any government programs. You said it. Yes. This one is almost broke as well.
The lessors of land will find it to be a difficult year most likely. Will lease rates fall? Still remains to be seen. According to the USDA, the forecasts do not look good in the profit column for 2016. The National Farmers Union is petitioning Congress for a credit solution asap so that they can continue production.
Recently there has been a surprising increase in prices and it is the agricultural industries hope that the rally continues.
(Data courtesy of Bloomberg, National Real Estate Investor 2016)
Commercial Retail/Office Space in the heart of Historic Kennett Square. Convenient Employee/Client Parking in Rear. Located on 0.21 Acres and zoned C-2 for many permitted uses. Only $1,675/Month
- 3,474 SF Building; 1,645 SF available for lease
- Public Sewer/Water/Gas
- Central Air
- Receptionist Desk
- Current Use: C60 (Commercial/Office Buildings/Lab/Library)
- Off-Street Parking – in the borough of Kennett Square!
This commercial suite features 6 individual offices, a waiting/reception area, kitchenette, restroom, conference room, storage area, ADA Compliant main entrance, off-street parking (in Kennett Borough) and good signage in front of the building. Office is located in a high traffic count area. This is your opportunity to have your business here in the heart of Kennett Square’s business community.
Just 3 blocks from the center of town, 2 blocks from the new Victory Brew Pub, 4 blocks from the Kennett Square Parking Garage, and 2 blocks from The Market at Liberty Place.
For over twenty years, Cyron & Company has offered a comprehensive suite of customizable accounting, payroll and tax services for small to mid-sized businesses and individuals. Our unique approach of delivering custom-tailored solutions truly sets us apart. We help you achieve balance by aligning your business and personal goals. We pay close attention to your goals, ideas, plans, and concerns—and design a services package that meets these specific needs and objectives.
Our distinct philosophy has not only earned us the loyalty of our clients, but has allowed us to grow through a steady stream of referrals. We’re known for our clear focus on helping clients reach their full financial potential and are proud to develop partnerships that support business growth and ongoing financial strength.
Cyron & Company is moving into the newly constructed 400 Building within the Beiler-Campbell Business Center.
Add their new contact information into your CRM/Address Book:
Cyron & Company Certified Public Accountant
The Beiler-Campbell Business Center, 400 Old Forge Ln, Suite #405, Kennett Square, PA 19348
Find out more about Cyron & Company by visiting their website HERE
The Delaware County 58 acre property known as the Granite Run Mall is experiencing some drastic changes as of late. The 39 year old JCPenney store announced its closing plans in January. This was one of 40 closings scheduled across the US. Under-performance is said to be the root cause of this array of retail cessations. This “old school” mall is not finished yet. BET Investments, the current owner based in Horsham, PA has big plans for a re-do. It is said that there is a heavily funded plan to convert the antiquated building into an opulent mixed-use town center. (This does seem to be trending, doesn’t it?) This lifestyle center concept is encountering extensive popularity. This adaptation by the retail development industry is a conspicuous sign that the way consumer mentality and preference is drastically changing. Formerly a convenience to be savored by mainly 55+ active adult communities, the mixed use lifestyle centers are drawing in the young professionals and families alike. Boutique-type shopping in lieu of the big box and mega-department stores, open courtyards rather that jam-packed push and shove hallways and let’s not forget open air walkability to give that Fit Bit a workout. This projects a new lifestyle that we American consumers have embraced, one that incorporates all the luxuries of residential living spaces with shopping, entertainment, outdoor activities, fitness and multiple dining options, all within a walking distance. Many of these lifestyle centers also solve a ever-present, pressing problem that many cities and urban areas experience. The parking issue is being resolved by parking garages strategically placed within the lifestyle centers, creating added value and convenience. The face of retail is ever-changing they say. However, the popularity of this particular development concept may provide sustainability for this new look of retail.
As we dove into 2015’s waters, investment capital stats were already at in influx. The US has traditionally been a favorite depository for said capital. With US Treasury Rates on a decline due to demand and the US Stock Exchange experiencing new elevations, commercial real estate is an attractive invitation for both foreign and domestic investors. The evidence of this is the growth of overall commercial property transactions in the US by foreign investors has now arrived at a level that we haven’t seen since 2006/2007. Firms aim a close eye at interest rates and market stability as they compare these current statistics with historical data. The timing for interest increases is concerning for most, and whether long term and short term rates will increase in a united or disjointed manner. A majority of soothsayers, (correction: forecasters), hold the belief that the Federal Reserve will raise rates Summer of 2015. Out of the estimated $5 trillion plus capital invested in the United States, over $3 trillion is debt-driven. Commercial real estate loans are steadily gaining as per the Feds, with private equities and REIT’s in the lead. There is speculation that we will see a “re-do” of 2006 where large sums will be reinvested into #cre in 2015 if all goes according to pattern. Is your brokerage positioned for these potential opportunities? Are you as an investor positioned to take advantage of this stimulative climate and seize the day?
African American Museum of Philadelphia – Dr. Martin Luther King Jr. Sharing the Heritage Celebration and Date of Service – 11 AM – 5 PM at 7th and Arch
MLK Social Action Day Concert – The Chester Children’s Chorus – 1 PM – Congregation Ohev Shalom, 2 Chester Rd, Wallingford, PA
Macy’s Family Days at the National Constitution Center – Celebrates Martin Luther King, Jr. Day from 9:30 AM – 5 PM only $5 admission fee today
Health and Wellness Fair at Girard College 8 AM – 2101 S. College Avenue, Philadelphia, PA
Jobs and Opportunity Fair – 9 AM till 1 PM inside Hum Bldg at Girard College
MLK Tribute Concert in the Girard College Chapel – 1:30 PM – Free admission but tickets are required (215) 893-1999
US Forest Service recreation sites are waiving their fees today in honor of Martin Luther King Jr. Day
Do you see what I see?
There is a gargantuan player in this game of whom some of us may be unaware. Recall the “Defined Contribution Real Estate Council”? It was originally created to assist sponsors/participants get better results via institutional quality properties. According to the Urban Land Institute, 2014 was monumental for US retirement assets achieving the 23 trillion mark. A good portion of those funds were in defined contribution or IRA funds.
As of first quarter 2014, it was reported that there were $6.6 trillion dollars in IRA funds and 6 trillion in defined contribution 401k’s. Our industry is being propositioned to produce improved selections for real estate investing. Institutional allocations can potentially mean billions of investment capital. Because liquidity is imperative to retirees, REIT’s may outshine direct investing options.
Urban Land Institute & PWC, “Emerging Trends in Real Estate – US and Canada 2015″
Well it is that time again when the economists, financiers, commercial real estate execs and genies make their predictions for the New Year. As predicted by the Delloitte Center for Financial Services, rents and vacancies showed improvement, development pressed pause, REIT’s and foreign investment led the charge in activity, the standards for CRE lending were allayed and leasing was partially determined by tenant’s use of technology. The majority of sources remain positive regarding 2015’s outcome.
We have good news on the unemployment sector. The majority of the US saw a downturn in unemployment. That evidence includes those that vacated the workforce. For 2014, here are the stats:
States where unemployment experienced an annual increase:
- North Dakota
- W Virginia
States that experienced no change:
While Puerto Rico’s unemployment decreased, they still hold the highest unemployment rate at 14 percent. The average in the nation in December was 5.69 according to NCSL data.
- Enduring returns of REIT’s
- Expanded funding sources on a global scale
- GDP growth trend
- Investment transactions rise
- Construction Industry gradual recovery
- Technology advances
- Industrial property development growth
- Suburban markets making a comeback
The potential perils and pitfalls foreseen in wonderland, pardon me, CRE-land include currently delayed, yet inevitable Treasury rate escalations, federal regulatory ambivalence, the predicted plunge in US labor force growth two years from now, aging infrastructure and vacillating energy prices.
In Through the Looking Glass (Part 2) we will further explore the nuts and bolts of the industry findings…stay tuned.
Deloitte Center for Financial Services, Deloitte Development LLC, 2014 “2015 Commercial Real Estate Outlook”
Urban Land Institute & PWC, “Emerging Trends in Real Estate – US and Canada 2015”
National Conference of State Legislatures, http://www.ncsl.org/research/labor-and-employment/2014-state-unemployment-rates.aspx, December 19, 2014
Conferences can be brutal. Walking almost 4 acres of continuous “real estate related” booths of wonder could be intoxicating or grueling depending on who you are. For those of us who consider it to be a tad redundant or boring, NJMLS is kicking things up a notch and adding fun and games to their booth for this year’s Triple Play Conference and Trade Expo at the Atlantic City Convention Center. Today is the last day to get your game on and grab some CE credits while you’re at it. Continuing the 1932 Skee-Ball tournament tradition (that was the original in Atlantic City), they treat real estate professionals from Pennsylvania, New Jersey and New York to try their skill at Skee-Ball customized with the NJMLS logo. They are one of the over 300 exhibitors that will be trying to grab our attention and draw us in with fun and fare.