The Value of Getting the CCIM Designation

The Value of Getting the CCIM Designation

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CRE – A Foreign Language

When I started in commercial real estate, 10 years ago, I had construction sales experience (sold concrete for 3 years) and residential real estate sales experience, and what I thought was a basic understanding of commercial real estate. How quickly that changed on my second day when I attended a meeting with Francis Rentz, CCIM. He and the client were speaking a language that was foreign to me (load factor, Cap Ex, Op Ex, TI’s, Cap Rate, IRR) I knew right then I needed some education. I decided that getting the CCIM Intro course would be a smart move, so I enrolled the very next week.

CCIM – The Relationships & Instructors

I completed the course work, my portfolio of qualifying experience, took the comprehensive exam and succeeded in getting the CCIM designation within two years. It was one of the best things I Getting the CCIM designation is a valuable accomplishmenthave ever done. Since that time the CCIM mantra (Come for the knowledge, stay for the business) has definitely rang true. I met, stayed in contact, and have done deals with my fellow students from those classes. One of the most valuable experiences during the process was the quality of the in class instructors. Each class is led by two or three instructors who are not only great teachers but also successful commercial real estate practitioners. The real world experience that they share in the class room was my favorite part of each course.

Getting the CCIM Designation

CCIM members close more than $200 billion in transactions annually. There are approximately 13,000 members in over 1,000 markets in 30 countries around the world. Of the more than 150,000 commercial real estate professionals in the United States, an estimated six percent hold the Certified Commercial Investment Member (CCIM) designation.

Known as the “ PhD of Commercial Real Estate” To earn the designation, one must meet the following requirements:

Complete the designation curriculum, which includes the following courses: Financial Analysis for Commercial Investment Real Estate, Market Analysis for Commercial Real Estate, User Decision Analysis for Commercial Investment Real Estate, Investment Analysis for Commercial Investment Real Estate, Ethics Course, Negotiation Workshop
Submit a portfolio of qualifying experience before taking the final comprehensive exam.
Pass the Comprehensive Exam.
I continue to “stay for the business” through my involvement with CCIM, by having served as President and the current Vice President of the Florida Panhandle Chapter.

 

This post originally appeared on tBL member SVN Southland Commercial’s blog SVN Southland Commercial Blog and TheBrokerList Blog and is republished with permission.

Rental Rates Reach Record-High Levels as Retailers Grow

Colliers International | Charleston, SC Q2 2015 Retail Research & Forecast Report

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Rental Rates Reach Record-High Levels as Retailers Grow

Key Takeaways

  • Retailer interest remains strong, supporting new construction throughout the market.
  • Declining vacancy and increasing development costs are driving rental rates to historically-high levels.
  • Demand for retail space exceeds existing inventory.
  • Residential growth and recent job announcements are driving suburban growth while tourism remains beneficial for downtown retailers.
  • Gross retail sales are up over the previous year in Charleston and Dorchester counties.

Market Conditions

A growing residential population, improving economy, favorable demographics and tourism are supporting significant growth throughout the Charleston, South Carolina retail market. The second quarter of 2015 ended with a vacancy rate of 5.1% for the market, down from 5.5% the previous quarter.  Absorption has been limited in recent quarters given the few options for space.  Retailers want to locate along prime retail corridors with high-traffic and visibility.  As space at these desirable locations becomes increasingly difficult to find, many retailers are backfilling vacant space or signing leases for new centers, which remain under construction.  New construction coupled with increasing land and development costs are yielding higher rental rates than those seen in the past.

Why Should Brokers #Mocial?

Mocial 101

This is a presentation @ElyseChubb and I gave to the @ColleirsIntl Retail Services Group in Denver at the #AmCon2015. What you will take away are three important points.

  1. First, this is not a fad and your clients and customers are ALL using it.  It is difficult to measure the ROI, however, we firmly believe it is more important to not be absent than it is to be present.  Decisions are made in #Mocial Land.  More about #Mocial Here.    Ever used Yelp, Urban Spoon, Open Table, Amazon, Pinterest, or Instagram to research a purchasing decision?
  2. How to build and protect your Brand.  First step is to Google yourself – what’s there? You Google your prospects and competitors.  Know hey Google you.  Get your digital house in order using the Checklist.  It’s hard to know where people will find you so you need to make sure it’s all clean – especially your Facebook Profile.
  3. Tips to help you engage.  I’m constantly asked how I find the time to post so much.  The reality is all the posts are posts that I’ve read first.  It only takes a fraction of a second to post it and with a couple tools I outlined.

Remember, if it is not Current, Relevant, and Interesting to you, it won’t be to others either.

You can download a copy here, or if you just want the slides they are here and please feel free to share it.  As Always we welcome your feedback and comments to let us know what you do.

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Demand Exceeds Supply, Drives Development of New Retail Space

2014 Colliers Charleston SC Retail Report

Demand Exceeds Supply, Drives Development of New Retail Space

COLLIERS INTERNATIONAL | SOUTH CAROLINA
Q4-2014 CHARLESTON RETAIL MARKET REPORT

KEY TAKEAWAYS
· Downward trending vacancy rate. Rental rates steadily increasing.
· New construction and redevelopments are strong throughout the market.
· Grocery wars continue.
· Grocery stores and outdoors sporting goods stores anchor new suburban developments.
· Tourism drives downtown growth. Suburban growth is driven by job creation and population growth.
· 2015 likely to bring new retailers and continued success.

CURRENT CONDITIONS
2014 was a significant year for the Charleston, SC retail market, full of new construction, redevelopments and new tenants opening or announcing plans to enter the market. Vacancy rates declined and rental rates climbed, especially along downtown’s King Street, throughout the year. The fourth quarter ended with an overall vacancy rate of 5.02% for the market, down from the third quarter vacancy rate of 5.44% and year-end 2013 vacancy rate of 6.91%.

Shop space asking rental rates averaged $19.51 NNN at year-end 2014, up 3.5% from the third quarter, largely due to spikes in rental rates along King Street. Tenants along King Street are seeing rates vary from $30 to $70 NNN, with the lowest rates along Upper King Street and highest rates along Middle King Street. Asking rental rates for suburban shop space averaged $16.70 NNN, holding steady over the third quarter average, but increasing from $16.34 NNN a year ago.

Top 10 steps to prepare for an ICSC Conference

Free How-To ICSC Guide

Here we are, two weeks out from the ICSC show and it’s time to “prepare”.  The bad news is you’re late already. The good news is you can do better next time if you follow these simple steps.

1.) Prepare your calendar a year in advance. Block the time off now. This is especially important if you attend multiple shows each year. One year I scheduled a spring break trip out of the country and the worst part was I had committed to moderate a panel. Many thanks to @Vinzani, @ElyseChubb, @JAugustan, @BooneCRE, and @ColliersIntlSC for saving me.

2,) Decide why you should go. Should you meet with landlords or should you meet with tenants or a combination of both. If you don’t have a good reason to go such as a project or site, then don’t go because its a waste of everyone’s time.

3.) Create a list of people you want to meet and why. Don’t expect to walk away with an approved deal or a signed lease. Set realistic expectations.

Coastal Tides Retail Newsletter | October 2014

Coastal Tides Retail Newsletter | October 2014

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Charleston City Council approves one-year moratorium on new bars in the peninsula’s entertainment district

A standing-room-only crowd packed City Council Chambers, where the group voted 9-3 to approve the moratorium along King Street, parts of Meeting and East Bay streets, and the Market area.
Charleston City Council has approved a one-year moratorium on the opening of new bars in the city’s entertainment district that can stay open past midnight.

Midnight Closing

 

 

 

 

 

 

 

 

 

 

 

 Nordstrom Rack to open in old East Cooper Kmart center

Nordstrom Rack, a popular off-price apparel chain owned by Seattle-based Nordstrom Inc., confirmed plans Wednesday to open a store in the former Kmart shopping center in Mount Pleasant.

Nordstrom Rack

 

 

 

 

 

 

Office Depot is downsizing at Westwood Plaza

Westwood Plaza at Sam Rittenberg Boulevard and Ashley River Road soon will have two big holes to fill when its anchor tenant Office Depot moves into a smaller space in the retail center next month.