The Value of Getting the CCIM Designation

The Value of Getting the CCIM Designation

CCIM Logo

 

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

johnorr.com blog heading final

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.

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.

Coastal Tides Retail Newsletter – September 2014

Coastal Tides Retail Newsletter – September 2014

New shopping centers planned in Mount Pleasant, Summerville will draw big retailers

Horizon Square

New retail centers planned in Mount Pleasant and Summerville are expected to bring major big chains to the Charleston market for the first time.

Ashley Landing owner buys Northbridge Piggly Wiggly

Ashely Landing Ar

The last time Ashley Landing saw any major updates was just after Hurricane Hugo, when its name was changed from Ashley Plaza Mall.

Chipotle opening downtown location by year’s end

Top 10 steps to being a GREAT Tenant

Tenant with Checklist

In order to be a great Tenant keep these 10 things in mind.  We all know human nature is this:  As soon as you decide to open the store or purchase the franchise the first thing to do – and the only thing you really can do – is drive around and call all the numbers on all the signs in all the windows. WHOA there.  Cool your jets turbo.  You need a strategy, a plan of action.  Ready, Shoot, Aim, gets really expensive and just won’t work in the long term.  If you look at the great tenants out there like WalMart, Korger, AutoZone, they all have teams of professionals and experts.  Sure, most of their people are employees, but you can get the same expertise without a real estate department.  You will need a team and this list will get you headed in the right direction.

Top 10 steps to being a GREAT Tenant Rep broker.

In this weeks installment of the Tenant Tips will discuss how to be a great Tenant broker.

Top 10 Steps

Image courtesy of Master isolated images at FreeDigitalPhotos.net

This is my Top 10 list to discuss how to be a great Tenant representative broker. On a macro level the Tenant Rep always looks out for the best interests of the Tenant. Remember the Tenant comes first, not your listings, not just the easy sites, and never the fee. Ask yourself “what would I want done if I was the Tenant”? Every tenant has a specific set of criteria for a location. While the criteria may vary from tenant to tenant the process of being a great Tenant Broker does not.

Top 10 steps to being a great Tenant Rep broker.

Steps to Hiring a Commercial Real Estate Broker; THE Checklist

This week’s installment of the Landlord and Tenant Tips we will cover the steps to cover when Hiring a Commercial Real Estate Broker.CRE Broker Candidates to Interview

First you RECOGNIZE you need a professional. It may hit you like a ton of bricks or it may have taken you years with no results to arrive at this decision. You may be a Landlord who needs to lease vacant space or sell a property, or a Tenant interested in a new location or a renewal of a current one. The good news is you’ve completed the hardest part!

Doesn’t matter how you got here, it only matters that you have (or almost have). Check that off your list and move to the easy part. Second step is

Welcome to www.JohnOrr.com

WELCOME!

Howdy y’all,
I appreciate you surfing by here to check out the “Official Launch” of my Blog.  This has been in the works for a long time and my good friend Duke Long has been instrumental in motivating me.  First by naming me to this prestigious list of the Top 10 Most Influential Online Commercial Real Estate People in 2013 and then the 2014 Top 100 Commercial Real Estate People You Must Follow On Twitter.  Of course you all repeatedly telling me how inadequate my website really was helped too!

Before I get too far along about what you can expect to find here, allow me a moment to introduce myself – I am John Orr CCIM, a lifelong Retail Commercial Real Estate practitioner.  I’ve been active for a long time (at least in relative timelines) in the social media spaces – TwitterLinkedINFacebook, Google+, YouTube.

As we get to know each other over the coming weeks and months I will introduce our Charleston Retail Team here at Colliers International as well as post Market Reports, post for Restaurant Recommendations, and whatever strikes me from time to time.  Now, even with all that great stuff to talk about my main goal is to explore today’s issues facing Landlords, Tenants, Sellers and Buyers – and the occasional Developer’s Corner post and of course our monthly Coastal Tides Newsletter.  These are the things that impact us everyday.  The names may (or may not) be changed to protect the innocent but all the stories here are real because Truth is stranger than Fiction!

Thanks again for taking the time to check it out and please take a moment to Subscribe in the box on the right.  I believe inboxes are sacred and promise not to send anything to you that I wouldn’t want to receive myself.

Thank You Very Much!

John