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June 15, 2011

         Volume 13 - Number 24 
Streamlining the Business of Commercial Real Estate
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In This Issue
Congratulations on the New Arrival
Hot Deals/Leads
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TOP OF THE WEEK TO YOU!
(by realwired! CEO, Brenda Dohring Hicks)

Brenda Dohring Hicks

 

Top of the Week to You! is designed to offer the inside scoop and latest of what's important in the world of technology as it relates to the commercial real estate industry.

Congratulations on the New Arrival  

There has been a birth of sorts.  Everyone is proud to show off their new member of the family.  It's the iPad.  I have not seen such a surge in population for a long, long time.  Commercial real estate professionals have "adopted" the iPad in a big way.

 

A couple of weeks ago, I wrote about Realcomm.  Well it's here and I'm here with it.  And so is the iPad.  It's everywhere.  Ok, it makes sense that there would be iPads at a conference about technology, but what's really cool is what the folks (those in IT) who run technology for some of biggest owners and developers of real estate are doing.  They are working hand in hand with their leasing agents, brokers, property managers and the like to make the iPad more than just a device for showing photos, running email and accessing the web.  They're busy customizing the iPad (or in a few cases another tablet device) and building applications that are really useful.  They are working hard to talk the language of real estate.  Staying away from any terms that imply tech stuff, and instead really working to ask the right questions of the right people to make the iPad a "must have".

 

One of the best descriptions I heard was, "The iPad is best for people who need to use content, not the people who produce content."  Think about how smart that is.

 

The iPad is a visual joy.  It is best for viewing things.  And it's all about making communications better; communications that involve images, renderings, analytics, demographics, floor plans, lease schedules, and on and on.  While here, I saw an application that was built in about 4 weeks (getting ready for the recent ICSC- International Council of Shopping Centers conference) that enabled a professional in the field to have access to the company's entire portfolio of "pitch packages".  The database was easily (visually) searchable and made it a no-brainer to pull up the "packages" which were chuck full of property photos, competing property locations and data, spreadsheets, surrounding demographics and aerial views in Google Earth.  You name it and it was there, all in a lightweight mobile "pad".  Impressive?  Of course.  Useful? You better believe it.  Loveable?  Full of promise? Yep, like a newborn.

 

I seriously haven't seen this much excitement surrounding a "tool" in years and I've been coming to Realcomm since its beginning in 1999.  This year, like most, there is a lot to experience.  This is the only convergence of industry leaders discussing, demonstrating and sometimes having a healthy debate about the latest innovations impacting our industry.  The talent here is "the talent".  And this year, as we are slowly crawling our way out one of the worst markets most of us can remember (one which many of us are looking forward to forgetting); it's especially encouraging to see the industry have a tool that helps us in a big way.  I'm proud to be here among so many who are dedicated to helping the industry understand and put to use business solutions to make development, sales, leasing, management and operations of commercial real estate more profitable.  Not everyone "gets it", and so many companies and industry specialists aren't here.  They will get it at some point and the playing field will level a bit.  But for now, I know for sure that those who make the effort to use technology to streamline their processes, engage their employees, and excite their customers and prospects by producing results have an edge.  I hope some of my excitement about what's happening here at Realcomm comes through and you get motivated to "adopt" a new baby or two.

 

Click here to join our blog discussion or simply shoot me an email when you get a chance.

Hot Deals/Leads

Focus Brands trades as Moe's Southwest Grill at 429 locations nationwide, as well as in Turkey. The fast-casual Southwestern/Mexican restaurants, offering burritos, tacos, quesadillas, nachos, salads and fajitas, occupy spaces of 2,200 sq.ft. to 2,800 sq.ft. in power centers and urban/downtown areas. Plans call for 65 openings throughout the midwestern, northeastern, southeastern and mid-Atlantic regions of the U.S. during the coming 18 months. Typical leases run 10 years. A vanilla shell and specific improvements are required. Preferred demographics include a population of 30,000 within two miles earning $55,000 as the average household income. Major competitors include Baja Fresh, Chipotle and Qdoba Mexican Grill. Expansion is franchise-driven.  For more information, contact Phil Russo, Focus Brands, 200 Glenridge Point Parkway, Suite 200, Atlanta, GA 30342

 

Rooms To Go trades as Rooms To Go and Rooms To Go Kids at 170 locations throughout AL, FL, GA, LA, MS, NC, SC, TN, TX and Puerto Rico.  The home furnishings stores occupy spaces of 30,000 sq.ft. to 80,000 sq.ft. in freestanding locations.  Plans call for four to 10 openings throughout TX and the southeastern region of the U.S. during the coming 18 months.  Preferred demographics include a population of 300,000 within seven miles earning $50,000 as the average household income.  Major competitors include Ashley Furniture.  A land area of three to four acres is required.  The company prefers to acquire sites.  For more information, contact Jeff Finkel, Rooms To Go, 400 Perimeter Center Terrace, Suite 800, Atlanta, GA 30346

 

Pizza Co. operates four locations in Buckhead, Buford, Cumming and Galleria, GA. The pizzerias occupy spaces of 2,800 sq.ft. to 3,200 sq.ft. in freestanding locations and endcaps of shopping centers. Growth opportunities are sought throughout the Atlanta, GA metropolitan area during the coming 18 months, with representation by The Shumacher Group. The company prefers sites with a strong daytime population.  For more information, contact Irving Jacobson, The Shumacher Group, 3188 Saybrook Drive, Atlanta, GA 30319

 

Mel's Drive-In operates seven locations throughout CA. The diners occupy spaces of 2,000 sq.ft. to 5,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout southern and San Francisco, CA, as well as Las Vegas, NV and internationally, during the coming 18 months.  For more information, contact Steven Weiss, Mel's Drive-In, 8585 Sunset Boulevard, Hollywood, CA 90069

 

Financier Patisserie operates seven locations throughout NY. The shops, offering pastries and coffee, occupy spaces of 500 sq.ft. to 2,500 sq.ft. in kiosks, residential areas and corner locations in urban/downtown areas. Plans call for more than five openings throughout Manhattan, NY during the coming 18 months, with representation by Winick Realty Group. Major competitors include Starbucks, Dunkin' Donuts and Bouchon Bakery. The company prefers high-traffic areas in business districts and residential neighborhoods.  For more information, contact Darrell Rubens, Winick Realty Group, 655 3rd Avenue, 8th Floor, New York, NY 10017

 

Like these leads?  Want More?  Go to the Dealmakers  website for a Subscription. Dealmakers, the nation's weekly news source on retail real estate.

Featured Internet Site of the Week 

Techmeme

The web's technology news site of record. Techmeme spotlights the hottest tech stories from all around the web on a single page.

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