ICSC: Retail Should Expect a Busy Fourth Quarter

naimartens

With the holiday season just around the corner, there’s some good news for the retail sector according to the retail industry organization, ICSC (Innovating Commerce Serving Communities). Despite economic concerns, ICSC’s 2023 Holiday Shopping Forecast says the sector can expect a “3.8 percent increase in October-December retail sales,” with an additional 7.6% increase for the food and beverage sector. Shoppers intend to spend “same or more” Drawing on data from their Holiday Shopping Intentions Survey, conducted in September this year, ICSC adds that “eight-in-10 shoppers” anticipate spending as much or more this…

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Converting Commercial Buildings to Residential Spaces: A Promising Solution for Wichita’s Housing Crisis?

Colton Bartlett

The concept of converting commercial buildings into residential spaces is gaining traction across the United States, and Wichita, Kansas, is no exception. This innovative approach has the potential to address the city’s housing shortage, boost its local economy, and improve the quality of life for Wichita residents. The National, a new 10-story luxury apartment complex with co-working space and retail components, is being converted from a former office building at 150 N Main in downtown Wichita. Expected to be completed in mid-2023, the project is a significant example of commercial…

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Federal Reserve Beige Book Update- October 18th, 2023

naimartens

Summary of Economic ActivityEconomic conditions softened slightly across the Tenth District in recent weeks. Hiring activity and business conditions were mostly unchanged, but contacts in the energy, agriculture and commercial real estate sectors reported moderate declines in activity. Several bankers characterized their appetite for lending as being on a “loan diet” – looking for smaller portions (smaller balances) and only healthy fare (better creditworthiness). Most businesses indicated wage growth slowed to a moderate pace. In particular, wage growth among entry-level jobs slowed as job hopping became less common. Lower turnover…

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NAI Martens Blog ~ Exploring Wichita’s Prospects: an Insight into Tax Increment Financing (TIF) Districts

Colton Bartlett

To facilitate the overhaul of the Union Station campus, this TIF district was established in 2014. At the heart of Wichita’s vibrant economic landscape, Tax Increment Financing (TIF) districts have played a pivotal role in revitalizing and reimagining various areas of our beloved city. As a commercial real estate brokerage, we believe it’s essential to keep the community well-informed about the impact and whereabouts of TIF districts in Wichita. This blog post is dedicated to explaining what TIF is and providing an overview of the nine active TIF districts in…

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NAI Martens 

What the tax bill reveals about CRE in NYC and beyond

naimartens

Commercial real estate (CRE) is counting the costs of Covid-19 as the property tax bills went out last month. Bloomberg News is reporting that the property tax bills have shone a stark light on what they’ve termed the “carnage wrought by the pandemic” on one of the world’s most resilient and vibrant CRE markets, New York City (NYC) – and some of its most iconic landmarks. Furthermore, the valuations method is being criticized by many owners who want to push the city for further relief, according to BisNow. No small…

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Martens Companies 

CRE outlook stronger despite supply chain challenges

Katie Fernando

Since April 2020, the National Association of Industrial and Office Properties (NAIOP) has been keeping track of the pandemic’s impact on CRE with their regular COVID Impact surveys. NAIOP’s June 2021 survey collected data from 239 US-based members, including brokers, building managers and owners, and real estate developers. A recurring theme in this latest survey was the increasing challenges commercial real estate (CRE) is navigating associated with supply chain disruptions and materials costs. Supply and delayWith more than 86% of developers reporting delays or materials shortages, it seems the impact…

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NAI Martens 

Top Tech: Salesforce

naimartens

We’ve been on a mission lately, to share best practices and some of our favorite commercial real estate (CRE)-related technology tools in a series of blogs. This is our fifth in the series, and explores the uses of Salesforce. For clarity, this is NOT a paid or sponsored blog. We are motivated only by sharing information with our network. We want to hear from you too: What are your favorite tech tools? Is there a CRE digital solution we should know about? Below we provide just a few reasons why…

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Martens Companies 

Allie Fowler Joins Martens Appraisal as Appraisal Department Administrator

Martens Appraisal

Martens Appraisal has hired a new Appraisal Department Administrator. Allie Fowler joined the team early this summer and has taken on the new role at the company. As the Appraisal Department Administrator, Fowler will oversee many of the day-to-day operations of the commercial appraisal company, including serving as the point of contact for clients looking to order appraisals. Steve Martens, CEO of The Martens Companies, said the addition of an Appraisal Department Administrator was a result of re-evaluating the company’s leadership needs. “As we emerge from the pandemic our firm,…

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NAI Martens 

Industrial CRE: the party isn’t over yet!

naimartens

Real Capital Analytics (RCA) has released their latest US National All-Property Index data for industrial, apartment, retail, and office sectors, which shows index growth of 8.4% year-on-year to April 2021. The biggest gains were evident in Industrial (up by 9.4%), which we all know has been one of the few spaces for which Covid-19 proved to be a boon. But GlobeSt analysis of Crexi data and Moody’s Analytics suggests that a “market correction” may be on the cards In the monthly Crexi National Commercial Real Estate report, they write, ‘for…

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