Many times when I pose that question, I get some unusual looks about just what I mean. Some owners of commercial real estate think I am asking about a deeply complicated analysis of their property. Quite to the contrary, a calculation of return on equity is a fairly simple calculation. It’s also something every owner of commercial real estate should do on a regular basis.
Construction has started for a brand new Arbys on the eastern edge of Salisbury. Located adjacent to the Royal Farms at the busy Rt 50 and Walston Switch Rd intersection, the new location is slated to open late fall of 2017.
Are you looking to become a smarter investor? Want to know more about various aspects of the commercial real estate industry? Do you have all the tools to make savvy investment decisions? I am very pleased to introduce The Commercial Real Estate Insider, a project I have been planning and working on for quite some time. A recurring theme throughout all of my market updates and eblasts is my desire to bring you relevant and accurate information you can use or share with others.
The former G&M Sales Complex in Delmar, MD located just south of the Maryland Delaware state line, is a well-known industrial building fronting Route 13 that is hard to miss. Owned by the Ferrier family, the complex currently houses tenants including Snyders of Hanover, Canteen, and Autotech of Salisbury.
To the casual observer, the amount of “Available” signs in the market would indicate an abundance of available commercial and industrial properties in greater Salisbury. As I have discussed with many clients recently, this is simply not the case. Clients seeking a building beyond a generic office or retail space quickly find those opportunities to be far less than expected.
About two weeks ago, the two remaining Wendy’s located in Salisbury suddenly closed their doors. All signage was removed. Many clients and friends began to message me asking what was happening and if I knew of any new uses forthcoming.
Occasionally, you have a rare, whirlwind deal that settles before you can blink. Not often, but I’m telling you it does happen. A few weeks ago, we were contacted by a past client seeking space for an expanding manufacturing business. One property that particularly interested them was 408 Coles Circle in Salisbury. For many years this property was home to K&L Microwave.
I am extremely pleased to announce the completion of a new lease in a building that I would consider a cornerstone of downtown Salisbury. The iconic former headquarters of the Salisbury Fire Department – which was converted into a concert and entertainment venue, known as Headquarters Live in 2014 will be the new home of the Delmarva Media Group.
An exciting renaissance is continuing in the downtown Salisbury area. Developments are underway and businesses are opening. All of this is a great sign of the economic prosperity that we are experiencing. That being said, the demand for real estate downtown has increased dramatically. Many businesses that are looking to relocate, are focusing their sights on historic downtown Salisbury to gain great exposure and get their foot in the door to be a part of the great transformation.
Sometimes all of the pieces fall into place and deals just happen to be timed right. I have been working side by side for several years with SVN Senior Advisor Tom Knopp in the marketing of an office warehouse building in the Seaford Industrial Park. The 15,000 SF building was partially leased and in great condition. It was lacking just the right tenant to help make it a viable investment.