Industrial Real Estate Agents are All the Same – Just Pick One and Be Done0

Posted by Thomas Miller, CCIM

This is part of our ongoing series that debunks commercial real estate myths.

Myth #4: “Industrial or commercial real estate agents are all the same – they search the same listings and know the same people, so it really doesn’t matter who you choose.”

Industrial Real Estate Agents are All the Same – Just Pick One and Be DoneThe short answer to this myth is no, industrial real estate agents are not all the same. If that’s what you believe, you’re shortchanging them as industry professionals with strengths and weaknesses. Still, if we’re going to generalize, there’s a better way to do it. Industrial real estate agents and brokers can be divvied into two categories – they’re either in the business of solving problems or taking orders. Here’s how to differentiate between the two and find out which one you need for your industrial or commercial property transaction.

The Problem Solver

1. How to Spot One

This agent exhibits sign of the “driver” or “analytical thinker” personality. Once they understand your needs, they’re quick to develop a clear direction of how to achieve your goal to the best of their abilities. This is based on their experience finding real estate solutions that best serve the needs of their clients.

2. What to Expect

The best way to get the most out of this type of agent is to tell him what you’re looking for and then stand back. This agent knows how to navigate the tough territory. Once you’ve told him what you need, keep your input, suggestions and recommendations to a minimum. However well intentioned they are, they may do more harm than good by interfering with the seasoned work your agent is doing for you. The best of these agents will reflect on your input and adjust course if it’s valid. If your suggestions aren’t useful, this kind of agent will explain why.

3. Why You Want this Agent

The problem solver takes each business relationship personally and becomes deeply invested in order to provide the best service possible. You’ll enjoy the range of his experience, his expertise, his valued council, his ability to streamline the entire process, and his ability to find the solution to your commercial or industrial real estate dilemma.

4. Why You Don’t Want this Agent

If you’re the kind of client who prefers to be in absolute control of the real estate process, hiring a problem solver agent tends to result in a highly charged relationship. Unless you can allow the professional you’ve chosen to do what he has been hired to do, you won’t get the best of his ability – and ultimately, that will negatively affect your real estate deal.

The Order Taker

Industrial Real Estate Agents are All the Same – Just Pick One and Be Done1. How to Spot One

This agent is agreeable and expressive. He or she is fun to be around and strives to please a client by agreeing and supporting him and his ideas totally.

2. What to Expect

These agents are best suited to working with clients that feel they can pretty much handle their real estate needs themselves, but may as well use an agent to make things easier. In this scenario, the client typically calls the shots and the agents follow up with little council back to the client (for better or for worse).

3. Why You Want this Agent

Clients of the order taker agent will complete their transaction feeling that their assessments were correct all along. They’ll likely feel that their directives directed the majority of the transaction and that the agent merely handled the paperwork.

4. Why You Don’t Want this Agent

The order taker agents are unlikely to advise their clients when they are misjudging or incorrect about a transaction matter. They will not resist a client order nor will they insist that a client reassesses his or her position. The results of a transaction with this type of agent tend to lag well behind the results garnered by a problem solver agent.

So which one is right for you – the problem solver or the order taker?

Do you truly feel you can handle an industrial real estate transaction yourself? If you honestly believe that you a more skilled negotiator than the professionals who do this day in and day out, find yourself an order taker.

If, on the other hand, you feel that a professional agent who performs these transactions for a living might be better suited to guiding you through the process, you will do well with a problem solver. That’s what we are, and we welcome the opportunity to show you why. Please contact us today.

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UTi/Starbucks Leases Major Distribution Facility in Sparks, Nevada0

Posted by Thomas Miller, CCIM

utistarbucks-miller

A large distribution facility is off the market in Sparks as UTi/Starbucks launches a major expansion of its northern Nevada presence. The 271,000-square-foot property at 550 Boxington Way, owned by Los Angeles-based Selective Real Estate Investments, almost triples the footprint of UTi/Starbucks in the local market.

Starbucks previously used the same facility to store green coffee beans prior to having them roasted in Minden, Nevada. They vacated the property following a logistical change to their supply chain organization. In an effort to make the facility as appealing and functional as possible, Miller Industrial Properties advised Selective on a number of strategic upgrades. Selective then launched a major upgrade of the facility, including new paint, refurbished docks, resurfaced pavement and more. When representatives of UTi/Starbucks toured the newly updated property, they were immediately impressed with the improvements and pleased to move in once again with their new product lines.

“We very much appreciated Miller Industrial Properties’ advice and guidance in helping us transform our Reno asset into the type of property that UTi/Starbucks will be proud to operate from,” says Ken Ayeroff of Selective Real Estate Investments.

UTI/Key Logistics took occupation of the facility on July 12, further reducing the already limited availability of large warehousing in northern Nevada.

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Q1 2013 Northern Nevada Industrial Market Status and Forecast0

Posted by Thomas Miller, CCIM

What’s Hot for Northern Nevada’s Industrial Market Status for Q1 2013:

  • Market Activity Strong
  • Continued Declining Vacancy Anticipated
  • Pricing Remains a Bargain
  • Economy Continuing to Post Some Positive Signs
Download the Miller Industrial Properties Q1

Miller Industrial Properties Q1 2013 Market Report

 

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2012 Year End Report – Reno, Nv Industrial Real Estate Market0

Posted by Thomas Miller, CCIM

Industrial Real Estate and Q4 2012 Market Report

All considered, the Reno Metro Industrial real estate market did ‘ok’ in 2012. Certainly nowhere near the red hot Inland Empire’s wild influx of new occupancy, but far better than Las Vegas’s overall negative net absorption for their 2012.  Overall vacancy dropped almost 2% (from 15.2% to 13.4%) in 2012, resulting from a series of up and down quarters. There were a nice group of larger transactions in the year and a nicer group of sales, with opportunistic tenants and buyers alike snapping up incredible deals, leasing at rates not seen in a decade and buying at significantly lower than building costs.

2012, Q4 saw a large lease transaction with Bizchair ( eRetailer from Atlanta) completing the 100% lease up of Panattoni’s Lear Industrial, 4 building Complex in Stead with 292,500sf. Previously, PPG leased Kennedy’s big box in TRIC for 187ksf, Alfa Aesar leased Prologis’s 110ksf free standing property off Vista in Sparks,  Sierra Converting leaving their long term tenancy with Prologis and buying the ex-Quad Graphics building in Stead at 181ksf and Torchmate’s lease of 118ksf. Also CRown Beverage bought the ex-Weyerhaeuser 72,500sf property at 600 Spice in Sparks, Agru America expanded and bought Polypipe’s plastics extrusion facility in Fernley. Building sales continue to be the bargains of the decade. Market velocity, which certainly had both higher and lower trending, did continue to march ahead with fewer and fewer losses of firms leaving the area as the year progressed. As has been the case for quite some time now, land sales are almost nil as well as new construction.

The outlook for 2013 starts out similar to 2012. Rather luke warm. There are potential transactions still circling the market. It does seem that there is a resurgence in the midsized lease users (35-75,000 sf), which has been the dead zone in the market for quite some time.  I attribute that size occupant to the typical manufacturer or distributor taking a modest step into the western market service area. This has obviously been an industry sector (small business) that has experienced hard times the past 3-4 years. It is encouraging to see this activity, lets hope it continues.

The big box inventory is evaporating and I expect to experience shortages in this availability size in 2013as the few remaining sites are taken down. New, speculative building still is not on the radar, but sooner or later the first one out of the box with new product will be the recipient of much attention. I would expect the carry time on any new product to be well less than experienced in the 2007-2010 era. It is yet to be seen what rental rates any new inventory will achieve. 2013 should be interesting.          

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Selling – is it Evil?0

Posted by Thomas Miller, CCIM

I saw this title in a magazine article recently. Rather than read the article, I Selling - is it Evilthought about the perceptions out there that could characterize the sales process as “Evil.” If your experiences with sales revolve around the pushy car salesmen, late night infomercials about ladders that turn into transformers, or the faces at your door expounding the virtues of joining their religion, then you may tend to vote in the affirmative. If you get no value from the experience, then it’s only natural that you feel pestered, pressured, and uncomfortable throughout any form of a sales process.

Now, having given the adjective ‘Evil’ some credence, are there any arguments supporting selling? Of course, but I feel that it all revolves around the salesmanship of the process. By that I mean: what is truly running through the mind of the sales professional? There are too many different ideas of the right mindset to catalogue, but we should remember that the customer always knows when he is being ‘sold’ something, and when he’s being counseled.

Most true front line salesmen make their living through straight commissioned fees based on closed sales. By its nature, this format tends to add pressure to the sale process, and many times results in the prospect feeling he is ‘being sold’. How does this common car lot question make you feel: “Say Tom (because they always like to sound so friendly), if we find the right car at the right price today, will you buy it?” It’s a given that if you’re at the dealership you’re probably interested in buying a car, but when this is one of the first questions asked, you probably feel as though the lid has just sealed you in, and the pressure cooker is turning on.

The fault here, and why it leads to the perception that selling is evil, is because questions like this tend to happen before the salesman ever inquires about you, your situation, your reason for being here, your timing, and your needs. Not only is his need to close the sale more important than satisfying your needs, it’s more important than his even learning what your needs are.

Whenever this happens to me, I know I’m dealing with a rookie salesman, and one who is probably desperate, as well. My stay at that car lot won’t be very long, and I’m already mentally gone, and thinking about where else I can go.

I can’t recall when I personally made the shift from this approach to the more consultative attitude I take today, but it’s been quite a while. It was a big shift in my mindset, and it has affected every aspect of my sales process, as well as the quality of my client relationships.

By counseling my prospective clients, I try to position myself as a valued member of their management team – one who just so happens to have all the professional skill and local knowledge necessary to the task. However, that isn’t enough. There is one critical element missing: knowledge of their business, and their goals. The Internet is invaluable for learning about an industry, a business within that industry, and even the individuals within that company; but the awareness of the client’s goals comes through building trust, otherwise the client may never share their goals and needs. To me, that is the key of the sales process: building trust. This is where a true sales professional earns his stripes, and brings value to the prospective client — and it all comes from choosing a consultative strategy, not a selling tactic.

If a sales professional can determine the client’s actual needs, and then direct the client to the very best solution for the client, then significant value has been injected into the process. And guess what? Sometimes the best solution for the client isn’t yours.

Selling is it evil?

Is this a potential conflict with the commissioned sales fee structure? Sometimes, yes, but think of how the client feels when they initially asked for something they thought they needed, and the sales professional showed them a much better solution at a much better price! Immediate trust. And who knows, maybe the client still buys the initial solution because of some other factor, but one thing is for sure — that salesman just made a very positive impression, and referrals and future business should follow.

My conviction is that customers always know when a salesman is taking that rare approach of consulting with them based on their needs, and really listening to them, and that the trust-based relationship that results should be the true goal – not the immediate sale. Make it a conversation from one businessman to another, and then the concept of the “evil salesman” won’t enter their mind.

Download the PDF

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Q2 2012 Northern Nevada Industrial Market Status and Forecast0

Posted by Thomas Miller, CCIM

Reno, Sparks and I-80E Corridor

The remainder of 2012 is expected to produce moderate absorption. Elections and European issues are cooling the market activity. Download the Q2 2012 Industrial Market Report.

Industrial Market Status for Northern Nevada, Reno, Sparks and I-80 East Corridor
Industrial Market Status for Northern Nevada, Reno, Sparks and I-80 East Corridor

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Brookside Corporate Center in Reno, Nevada, GE Capital Real Estate, recently partnered with Miller Industrial Properties0

Posted by Thomas Miller, CCIM

Great Basin Brewing Company

The new owners of Brookside Corporate Center in Reno, Nevada, GE Capital Real Estate, recently partnered with Miller Industrial Properties to fill their vacant spaces at their newly acquired project on East McCarran Blvd.

The closing of Buckbean Brewery presented a significant vacancy to try to fill.

We are pleased to announce that Mr. Tom Young of Great Basin Brewing will be setting up operations in the space and will soon be turning out his premium brews from this new spot as well as his other locations in the area.  Great Basin’s occupancy was a considerable benefit to both the tenant since the infrastructure was already in place as well as the landlord to find a local operator to get the space open again.

We wish Tom Young lots of luck with the new venture.

Our posts are intended to educate commercial real estate users so they can make better decisions in their real estate use, investments, buying and selling. We encourage your input and commentary. If you are enjoying these posts and finding them useful, help spread the word via Facebook, Twitter, LinkedIn, Google + or email with the buttons above.

The Weyerhaeuser Company teamed with Miller Industrial Properties0

Posted by Thomas Miller, CCIM

The Weyerhaeuser Company teamed with Miller Industrial Properties
The Weyerhaeuser Company teamed with Miller Industrial Properties

After shutting down their manufacturing operations in Sparks, Nv, the Weyerhaeuser Company teamed with Miller Industrial Properties to divest of their excess asset at 600 Spice Islands Drive. In April, 2012 a viable buyer was located and on June 8, 2012 escrow was closed and the deed transferred on the 72,500 sf., 10 acre facility.

The team at Miller consisted of Brad Lancaster, Carole Brill and Tom Miller and we wish to thank Weyerhaeuser for the confidence shown in selecting our firm to sell your property.

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Featured in the Northern Nevada Business Weekly
June 11, 2012 by NNBW Staff
Coatings manufacturer buys Dayton building for plant

Our posts are intended to educate commercial real estate users so they can make better decisions in their real estate use, investments, buying and selling. We encourage your input and commentary. If you are enjoying these posts and finding them useful, help spread the word via Facebook, Twitter, LinkedIn, Google + or email with the buttons above.

Miller Industrial Properties Completes 17 Deals in Q1, 20120

Posted by Thomas Miller, CCIM

Despite the slow market, Miller Industrial Properties completed 17 transactions in Q1,2012.

Miller Industrial Properties
Reno NV Commercial and Industrial Real Estate

The quarter recorded a net increase in vacancy, however, this was more of an accounting result than actual firms leaving the market in Q1, since we recorded earlier departures in this period.

For the Q1 2012, market summary report see http://bit.ly/K8DZKW

Miller Industrial Properties continues our track record of completing a high number of transaction per quarter. This transaction volume not only keeps us abreast of the latest market trades information, but landlords are mindful that when we bring a prospective tenant to their property we get excellent rates and terms for our clients, since landlords know that out firm know to complete transaction.

Miller Industrial Properties is available to assist you with your Industrial / Commercial Real Estate needs. Please contact us at 775-828-4665 (office) or saless@mipnv.com for further information on properties that are currently available.
http://www.millerindustrialproperties.com

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Sparks Industrial / Retail Building For Sale or Lease0

Posted by Thomas Miller, CCIM

Industrial / Retail Building For Sale or Lease – 540 S. 15th Sparks Nevada

Industrial / Retail Building Overview

  • 22,050sf
  • Fully Fenced / Gated
  • Highly Functional Building for Many Uses
  • Ample Power
  • Full Sprinklers
  • Monument Sign
  • A variety of offices from 200 sq ft to 22,050 sq ft available with or without warehouse
  • Back-up power feed from NV Energy

Specifications

  • Built in 2001 (22,050 SF Building on 40,946 Parcel)
  • Metal / Brick Construction
  • Power: 1000A / 480v / 3 Phrase
  • 15ft Clearing Height
  • 25’x40′ Columns
  • One 10’x10′ Drive-In Door
  • One 12’x12′ Dock/Door
  • Skylight
  • Utility Room

Office Plan

  • Equipment / Maintenance Shop
  • 8 Offices

Description of Area & Map

  • Easy Access to I-80 & Hwy 395
  • Close to Glendale Ave
  • Located in highly desirable industrial / retail area

Contact Brad Lancaster
Miller Industrial Properties
PH: (775) 828-4665 #17

Our posts are intended to educate commercial real estate users so they can make better decisions in their real estate use, investments, buying and selling. We encourage your input and commentary. If you are enjoying these posts and finding them useful, help spread the word via Facebook, Twitter, LinkedIn, Google + or email with the buttons above.

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