By Jerry Trout
If common area costs don’t make your list of
top rental property concerns, you’re not alone. Many landlords and management
companies don’t see the need to keep these costs in check. They also don’t look
past the capital cost burden of common area improvements. Here’s a few reasons
why this thinking can lead to trouble – especially for those looking to get the
most out of their properties.
While some management companies may not
particularly care about common area costs, there is a large group that most
definitely does – the tenants. No one wants to occupy an ill-maintained
property. If quality isn’t maintained, tenants will become resentful,
especially if they’re paying for it.
It takes seconds now for a tenant to pull up
all the rental properties available in its general area. If the tenant feels
like your property upkeep is subpar, that may be the straw that breaks … Read More »
By Gilbert Trout
When it comes to retail, most investors rely on a classic and relatively simple matrix to determine if an asset is a sound investment. You plug in the sales figures, measure business stability, look at the lease rate and lease term, see who’s guaranteeing the lease, add a couple of other variables and you basically come out with a pretty good idea of whether or not you have a sound investment. But the rules of the game have changed.
Now, those matrixes are completely outdated. A retailer like Toys R Us looked fine according to matrixes 5 years ago. Now, they’re out of business. They may come back as Tru Kids, but will it work? Now, take your rent roll, and assume that at least half your retailers are the next Toys R Us five years from now…
Think of … Read More »
By Rene Daniel
New mixed-use developments are thriving throughout the
country. The reason is simple: people want convenience close to home. But this
new trend is not just advantageous to the lifestyle of everyday Americans. It’s
a huge opportunity for the savvy retailer.
There’s no arguing numbers for retailers are down almost
everywhere, from patrons to profit and payroll. Adding residences to retail parcels
or parking lots is the latest key to reversing this trend. By using existing,
unused space, you can meld traditional retail and residential to build
exciting, viable new downtowns.
Take the former parking lot at Hunt Valley Towne Centre. Now
known as Avalon Hunt Valley, the once
sprawling lot has new apartments that are open and leased. Or, in the case of
Owings Mills Mall, the addition of Costco, Lowes and the soon to open Giant
super market as well as other lifestyle retail brands are revamping the area to
complement … Read More »
On Tuesday, August 25th, Jerome B. Trout III, Rene Daniel and Art Putzel of Trout Daniel Associates were interviewed by Allan Hirsh on AHA Business Radio 1300 WJZ-AM. Listen to their conversation below:
The Baltimore Business Journal recently published an article announcing the lease of 3,500 square-feet of space at 200 St. Paul Place, in Baltimore, Md.
The space, on the ground floor of the 28-story St. Paul Place office building, would make a prime location for another bank or credit union branch, or a specialty retailer, said Rene Daniel, a principal at Trout Daniel. Daniel is also pitching the two-level space as a good site for a service provider, such as a computer data center.
To read the complete Baltimore Business Journal article published December 28, 2012, click here.
The Baltimore Business Journal recently published an article surrounding the sale of 10330 S. Dolfield Road in Owings Mills to ASI Holdings LLC for $2.6 million, or $60 per square foot.
Baltimore CityBizList recently published an article announcing the five-year lease of Talucci Fine Foods, a mother-daughter gourmet catering services company, at 8600 LaSalle Road in Towson, Md.
Over the past few weeks several news articles have announced the opening of a second Mother’s Federal Hill Grille, a Baltimore City neighborhood favorite and award-winning restaurant and sports bar known for its Baltimore Ravens-dedicated purple patio, in Arnold, Md.
Set to open this upcoming fall, the new location will be at the recently closed Griffin’s Grill on Ritchie Highway. Mother’s owner Dave Rather said he plans to spend at most $2 million renovating the 6,600-square-foot restaurant, complete with a new 10-foot-by-30-foot LED sign to attract new customers.
Furthermore, in celebration of the new location, Mother’s is hosting a pre-construction party with food samples and live music this Sunday, July 22.
To read the Baltimore Business Journal article discussing the new Mother’s location published July 11, 2012, click here. To read the BroadneckPatch article discussing the new Mother’s location published on July 11, 2012, click here.To read the Baltimore Sun article discussing the new Mother’s location published on July 11, 2012, click here.