15 New Leases at Higher Rates in 2020 ………. Despite of, or because of, the pandemic?

Dublin Photo 1

Since the pandemic began, 15 new leases, at higher rates, were signed at Dublin and Westerville Office Center. Why?

1.) No need to follow complicated protocols of a large office building:

  1. No shared lobbies to navigate. Every office has 2 entrances that go directly into their place of business.
  2. No restrooms shared by other tenants.
  3. No elevators.
  4. No parking garage protocols.
  5. They can come and go as they please..

2.) People are getting back to work … at the office!

  • They feel more productive.
  • There are fewer distractions. They can focus better at the office.
  • Their colleagues miss the energy that comes from interacting face-to-face with their teams. Turns out they are people-persons!
  • They eat better, exercise more regularly, and work better with the structure of an office setting.

3.) They want to get ahead of the curve:

  • As vaccinations and improved treatments appear, they believe their business will thrive in 2021.
  • They helped flatten the curve, and now they sense a return to growth and strength.

To view an updated information package for Dublin Center Office Park, click below:

Dublin Center Info and Photos pdf

Dublin Center Proforma Reflective of 2019

Dublin Orig 2019 Inc. Exp

To view an information package for Westerville Center Office Park click below:

Westerville Center Info and Photos pdf

Westerville Proforma Reflective of 2019

Westerville Original 2019 Inc Exp

Note: All packages are subject to errors and commissions, and are also changed periodically to reflect changes in the marketplace.

For pro formas and additional information, or to visit either site, call Garrett Scanlon at (614) 774-0300 or email him at gscanlon@castoinfo.com.

To go to our homepage, click here:

 

32 Questions To Ask When Buying Apartments

I was in my office one day, when a real estate investor called me on the phone. He said, “Garry, I just had one of my tenants move out – and they took the refrigerator with them! They said it was theirs.” Uh oh.

Image of a Multifamily investment property checklist for buyers of apartments

They took the refrigerator!

I immediately called the seller, who explained that those particular tenants had previously sold their home, and so they had brought their own refrigerator with them. He had simply forgotten, and there was no mention of it in the lease.

Download 32 Questions PDF

What is a Cap Rate? [Podcast]

What is a Cap Rate? - Beautiful business woman with question mark above the head

Walking and Talking … Cap Rates!

(Podcast Transcript)

Cap Rates. You hear about them all the time, from people who specialize in investment real estate. They’ll says things like, “That property sold for a 6 cap,” or, “We’re looking for properties priced in the 9 to 10 cap range.” Today’s Walking and Talking podcast is all about Cap Rates!

Photo Courtesy of @istockphoto.com

Today, you will learn 5 things:

  • What is a cap rate?
  • The reason why so many people are often confused about cap rates.
  • The best way to remember how to easily calculate a cap rate for any investment property.
  • The five main factors that influence cap rates.
  • Why you should beware that all cap rates are not created equal!

Hit Continue Reading and listen to the Audio:

What They All Have in Common

Image of the shoes of 3 different people, 1 of which is wearing clown shoes.

What they all have in common. This was what I wanted to know. In my first book, Walking and Talking – 57 Stories of Success and Humor in the Real Estate World of Business, I recounted stories from some of the top real estate professionals in the Midwest. After observing their careers and listening to their stories, I asked myself this: Other than their sheer success, what do all of these winners in real estate have in common? This is what I learned:

Photo courtesy of @iStockphoto.com

4 Characteristics of Top Real Estate Pros …

1. They create structure in an unstructured environment.

Real estate is not your typical 9 to 5 job, where opportunities are clearly identified and day-to-day responsibilities are well-defined. It is up to the real estate professional to identify the problems and opportunities; to set a plan of action that will bring success. They are not told how to allocate their time, or which deals to pursue or ignore.

The successful ones create a great framework for activity.

My First Lesson in Commercial Real Estate – Walking and Talking

Cover of the book Walking and Talking - 57 Stories of Success and Humor in the Real Estate World of Business. Walking and talking was an early lesson I learned in commercial real estate.

I will never forget the day I learned my first lesson in commercial real estate. It came shortly after I joined a team of 25 brokers at Coldwell Banker Commercial Real Estate. They ultimately became a who’s who of Columbus real estate that included Richard Schuen, Ed JosephJohn Hall, Don Matsanoff, Greg SchenkChuck Manofsky, Doug Goddard, Ted Hobson, Bob MatiasBenton BenalcazarTom McGarity and several others.

Copyright 2014 Ballylongford Books, LLC

The Day I Learned About Walking and Talking

One of those brokers was Wayne Harer. Wayne played 10 years of minor league baseball for the Red Sox and Yankee organizations and actually won the

Why Investors Buy Apartments in Today’s Artificial Market

Multifamily flyer photo copy

The main reason for owning multifamily property has changed …

Since the tax change of 1986, until recently, the top 4 reasons for buying apartments were:

  • Cash Flow
  • Appreciation
  • Principle Reduction
  • Tax Deferral

These reasons have flipped in order. Now, they are:

  • Appreciation
  • Principle Reduction
  • Tax Deferral
  • Cash Flow (if there is any!)

The new, overiding motivation for owning real estate is Equity Preservation!

Why the change? One reason … Artificiality