Perry C Pursell

Gainesville, Florida Commercial and Industrial Real Estate

PERRY PURSELL, REALTOR

(352) 665-9731
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3 Ways the Industrial Market is Being Impacted by Retail

December 18, 2018 by Perry Leave a Comment

Retail trends have had a huge impact on the industrial market for the last few years. Amazon shifted the entire e-commerce industry to lightning-fast shipping, which means that industrial centers and warehouses are being moved to closer-to-the-city locations to handle the load.

On top of that, the trend toward reduced store size means that there’s more need for off-site storage and warehousing for retail products than ever before. Here are 3 other ways that the industrial market is being impacted by retail.

#1: Massive Closures of Big Retailers

Everything that you could buy at places like Sears, Kohl’s, and JC Penney can be ordered online at Amazon for less and with front door delivery. Because of that, retail giants are seeing massive closures. This year alone, Sears is closing 150 of its stores, JC Penney is planning to close 140 stores, and Macy’s is closing 100 stores but they’re not the only ones.

Brick-and-mortar retail overall is preparing for massive closures due to bankruptcy over the next year, largely because of Amazon, but also other online retailers. These closures are both haunting and inspiring for the industrial market. Those holding leases for big box stores are preparing for huge hits. Those investing in these shuttering retail stores have big new innovative ideas for how to reuse these spaces.

#2: Rethinking of Industrial Space Use

The vacancy rate for industrial space hit a low point last year with a basis point drop of 70 points to 5.6%; lower than the record low hit in 2000. Those vacancies may not last long as industrial leaseholders and investors seek to find new uses for spaces now housed by failing retail giants.

Again, e-commerce is the driver behind this trend sweeping through the industrial market; the rethinking of industrial space use. Some old shuttered storefronts make excellent fulfillment and distribution centers that are located closer to city centers. They are now being converted to handle last-minute-mile issues for new online retailers to aid in faster on-time delivery.

#3: Global Consumption Increases due to E-Commerce

U.S. retailers aren’t the only ones feeling the effects of retail on the industrial market. E-commerce has also increased global consumption and is expected to account for at least 30% of the global economy over the next several years. Products once cost prohibitive for people living in the Far East are now as easy to order online as they are in the U.S.

That has helped to expand the global reach of online retailers beyond U.S. borders. With that, the need for more physical space to house all of the goods needed to accommodate the growing global demand for faster delivery has made once abandoned industrial spaces more attractive.

Some of the top players in the global market demanding more supply from U.S. online retailers are China, Brazil, and Mexico. Expect the reach of global goods from online retailers in the U.S. to expand to other parts of the world, thus further increasing the appetite for more industrial space.

 

Written by Nicole Brzyski for Coldwell Banker Commercial Affiliates

Filed Under: Commercial Real Estate, Industrial Real Estate, News, Statistical Blurb, Uncategorized Tagged With: #educational/vocational, #gainesville commercial real estate, #manufacturing jobs, art #retail sales., Gainesville Manufacturing, Industrial and Technology, industrial real estate

High Traffic Office Building Near Interstate

August 16, 2017 by Perry Leave a Comment

209 NW 75th St,    Gainesville, FL 32607

Prime commercial parcel at .87 acres situated on a high traffic count 4-lane SW 75th Street (Tower Road) surrounded by big box retail, medical, restaurant, automotive, financial and office with expansive residential beginning a short distance to the south. 5130 sf building is faced brick construction with a drive through currently used as a daycare and originally configured as office/medical. Play area on east side can be reconfigured as additional parking.

Zoned Business/Retail the possible uses include residential over commercial, educational/vocational, medical/lab, restaurant, business/professional, bank/financial, gym, doggie daycare, dance, art and retail sales. Major north/south, east/west transportation corridors includes major interstate hwy exchange in close proximity.

From Newberry Road and 75th Street (Tower Road), drive south just past Home Depot to building on the left.

This building has so much potential with 5130 square foot currently configured into rooms, the drive thru and yard area, leaves many options for this property.  Lease if for $5,985/month NNN or purchase this great building for your own business or income property for $780,000.

Give me a call today, don’t miss out on this great opportunity!

For more information, click here.
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Filed Under: Commercial Real Estate, Uncategorized Tagged With: #bank/financial, #big buildings, #bigbuildings blog, #business/professional, #commercial properties, #dance, #doggie daycare, #educational/vocational, #gainesville commercial real estate, #gym, #medical/lab, #restaurant, #Tower Road, art #retail sales.

Terms In the Industrial Market World You Should Know: Part 1

July 1, 2017 by Perry Leave a Comment

Through out the month of July stay updated in learning some key terms that you should know in the Industrial Market World.

Cap Rate- Is a calculation that reflects the relationship between one years net operating income and the current market value of a particular property, The Cap Rate is calculated by dividing the annual net operating income by the sales price (or asking sales price)

Full service Rental Rate- Rental rates that include all operating expenses such as utilities, electricity, janitorial services, taxes and insurance.

Leased Space- All the space ;that has a financial leased space, regardless of whether the space is occupied by a tenant. Leased space also includes space being offered to sublease.

Filed Under: Uncategorized Tagged With: #bigbuildings, #gainesville commercial real estate, #new industrial space in gainesville

The CRE and Uber

June 27, 2017 by Perry Leave a Comment

What can CRE learn from the booming business of Uber? Find out three tips in this great article!

http://www.cbcworldwide.com/blog/3thingscrecanlearnfromtheubermodel

Filed Under: Uncategorized Tagged With: #big buildings, #bigbuildings blog, #gainesville commercial real estate, industrial real estate

Landlords and Selling with Incentives

June 22, 2017 by Perry Leave a Comment

Lately Landlords aren’t just selling a building or a house, today they are adding in more accommodations/funds to convince tenants to make a deal.

http://www.crainsnewyork.com/article/20170508/REAL_ESTATE/170509899

Filed Under: Uncategorized Tagged With: #big buildings, #bigbuildings blog, #gainesville commercial real estate, industrial real estate

Younger Businesses and Technology Investments

June 20, 2017 by Perry Leave a Comment

“Today’s younger businesses value technological investments in that space, and they value the flexibility to work from anywhere because they understand mobile capabilities…” -Armen Vartanian

 

Read more about how technology continues to be a growing investment  whenever businesses look for new properties!

https://www.bisnow.com/silicon-valley/news/office/techs-greatest-impact-may-be-in-the-workplace-itself-74466

Filed Under: Uncategorized Tagged With: #big buildings, #bigbuildings blog, #gainesville commercial real estate, industrial real estate

College Towns bringing in the Real Estate

June 18, 2017 by Perry Leave a Comment

It’s always interesting to see how much colleges impact businesses and real estate across the nation. This article talks about the top five college towns for rental housing… and we thought Gainesville was big enough!

https://www.bisnow.com/national/news/neighborhood/top-5-college-towns-for-rental-housing-investors-74413

Filed Under: Uncategorized Tagged With: #big buildings, #bigbuildings blog, #gainesville commercial real estate, industrial real estate

Summer Season Leasing Tips to Success!

June 17, 2017 by Perry 1 Comment

Negotiation, flexibility, and location… just a few key factors to four vital tips on how to survive the seasonal changes of leasing to seasonal businesses.  Click the link below for more insight on how to go with the current summer flow of leasing!

http://www.cbcworldwide.com/blog/4tipsforleasingcreduringthesummermonths

Filed Under: Uncategorized Tagged With: #big buildings, #bigbuildings blog, #gainesville commercial real estate, industrial real estate

Report on Alachua County’s Economic Standing

June 16, 2017 by Perry Leave a Comment

The Alachua County Economics Department has published their annual monthly report on how this great county is doing. Check it out in the link below!

Alachua County Monthly Economic Indicators May 2017

 

Filed Under: Uncategorized Tagged With: #big buildings, #bigbuildings blog, #gainesville commercial real estate, industrial real estate

Coldwell Banker M.M. Parrish
Coldwell Banker M. M. Parrish Realtors

352.665.9731
ppursell@mmparrish.com

5808 NW 39th Ave
Gainesville, FL 32606

5110 SW 91st Drive
Gainesville, FL 32608