Five Reasons to Hire an Industrial Real Estate Agent0

Posted by Beki Dobson

miller-industrial-properties-navigating-landlord-tenant-relationshipIf you are starting a new business or expanding your current one, you may have begun the search of finding industrial property in the Reno/Sparks market. And while it may seem that driving around in your desired area or browsing online listings isn’t so hard, don’t make the mistake of assuming that you can DIY the entire process. Before you dive in all the way on your industrial real estate search, here are five reasons to hire an industrial real estate agent first.Read more →

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I Can Search Online For Properties – Why Use an Industrial Real Estate Agent?0

Posted by Thomas Miller, CCIM

miller-industrial-properties-reno-industrialMore and more, our office is receiving calls from firms that want to see a certain property they have located online. This is relatively new. In years past, firms called and shared their real estate needs so that we could solve them on their behalf. Clearly,  going to the internet to directly seek what you are looking for now applies to industrial real estate as well. This once again begs the question: if I can search online myself, do I really need an industrial or commercial real estate agent?Read more →

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The Secret to Hiring the Right Industrial Real Estate Agent0

Posted by Thomas Miller, CCIM

real-estate-for-dummiesDoes a real estate license alone mean that an agent is qualified to perform industrial or commercial real estate services for your business? Unfortunately, no. All real estate agents must have a valid state real estate license to operate legally in the state, but the acquisition alone doesn’t make them experts. So what does? … Read more →

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Miller Industrial Properties Announces New Associate Hire0

Posted by Thomas Miller, CCIM

miller-industrial-properties-ali-formaMiller Industrial Properties is expanding its expertise in property management with the recent hire of associate Ali Forma. The East Coast transplant has lived in and around northern Nevada on and off since 2010, making the move permanent in 2015. With a background in property management and residential real estate, Ali transitioned to commercial and industrial this past summer. … Read more →

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Buying an Older Industrial or Commercial Building? Here’s What to Know0

Posted by Thomas Miller, CCIM

miller-industrial-properties-older-buildings-what-to-knowWhile new builds may be considered newsworthy these days, older industrial and commercial buildings can have characteristics that make them worth a second look – with one caveat. Environmental concerns in older buildings should be carefully reviewed, as they can mean potential liability issues down the line, complete with big economic impacts. If you’re considering an older industrial or commercial building, here’s what to know.  … Read more →

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.

Dare We Say It? Northern Nevada’s Industrial Real Estate Market Turns the Corner0

Posted by Thomas Miller, CCIM

Northern Nevada’s Industrial Real Estate Market Turns the Corner

Since 2008, we have heard positive economic predictions that have flopped time and time again. The fallout of those sadly mistaken forecasts was that over the past few years, no one dared to make any “We’ve turned the corner!” predictions. Until now, that is, because northern Nevada’s industrial real estate market really has! Onto the proof:

  • Through 2013, we have had excellent market activity approaching record absorption rates. Certain market size segments are all but unavailable, with only two locations remaining for 200,000 sf and up, and nothing available for 400,000 sf and up. The ‘big box’ market segment has already experienced raising rents in the 15% range due to the final few transactions realizing supply/demand economics. Furthermore, next quarter has already logged in some substantial deals and we are looking for a sixth consecutive quarter of decreasing vacancy.
  • Another factor is that in previous quarters, positive absorptions were balanced by firms downsizing or moving out of the market. This had the effect of keeping the area’s net absorption rate modest, maintaining overall vacancy high and keeping rents low. The recent strong net absorptions are signs that overall economic recovery is gaining footing.
  • Another observation is the return of the midsized transaction, defined as the 30,000 to 60,000 sf sized user. I characterize these firms as the small to midsized firms with a base operation on the East Coast or in the Midwest. These firms have been servicing their West Coast clients via truck freight. Now we are seeing these firms coming back into the market to build their Western presence, cut freight costs and improve delivery times to their eleven Western state customers. I view it as a very positive sign that these smaller firms feel confident enough with their mid and long range business models to use resources to expand in this way.  

The year is shaping up to the point that it should become the one we can point to and say, “After seeing the all-time market lows, 2013 saw the beginning stages of recovery in this economic cycle.” If the current trends continue, we should be seeing new industrial real estate ‘big box’ products built on speculation by early 2014. Rents should be able to bridge the gap to allow a reasonable return on investment, and we will be moving ahead to a balanced market where landlords are no longer required to be the last man standing to secure a lease transaction. And because all boats rise together on the tide, that’s the type of market that will benefit both landlords and tenants alike.

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.

True or False? Industrial Real Estate Agents Only Show Their Own Listings0

Posted by Thomas Miller, CCIM

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

Myth #5: “Hiring an agent for my commercial real estate deal will just limit me – everyone knows industrial property agents only show their own listings.”

Industrial Real Estate - Reno NevadaThis myth is dead wrong, but there’s actually only one reason why – and it makes perfect senses when you think it through. All agents want to make a commission. Period. There is no debate over this fact. When a prospect and an agent team up to find a real estate solution, there is a significant amount (or at least there should be) of time and effort the agent puts forth in proper due diligence, which is included but not limited to:

  • Locating all potential locations that meet the client’s needs and assembling them into an easily understood format
  • Assisting in the vetting process, gaining additional data, setting a property tour and touring the properties
  • Assisting in developing the short list and obtaining landlord pricing and terms to meet the client’s needs
  • Analyzing this returned information and presenting it in an easy to understand format
  • Assisting with the lease draft and helping negotiate the lease points
  • And the list goes on and on

Hopefully, completing these tasks successfully leads to some sort of a payday for the agent.

Real estate services are one of the few industries in which a professional engages his expertise, experience, his office staff and resources, his time, effort and his own money to serve your needs in the HOPES he can earn a fee. He has no guarantees. And this means he wants to be in a position to maximize his chances for success, which translates directly to exposing you, the client, to every potential real estate solution that is available. To do anything less is to jeopardize his chance to make his fees. And that simply won’t happen.

Have a commercial real estate question? Post your question in the comments and we’ll answer it with a post on our blog. And if you’re considering the northern Nevada market and want to explore our local industrial real estate options, browse our many current listings via our homepage.

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 Assisted Franklin Armory Locate and Purchase their New Facility0

Posted by Thomas Miller, CCIM

Miller Industrial Properties Assisted Franklin Armory Locate and Purchase their New Facility.

Franklin Armory has expanded their manufacturing operations to Nevada. Franklin currently manufactures their hand built, high quality products in Morgan Hill, Ca. Their new Minden location will add needed volume to their ability to meet sales demands for their rifles, pistols and accessory lines. They plan to set up operations there immediately. Franklin provides products to retail firearms dealers throughout the nation.

Miller Industrial Properties assisted Franklin Armory locate and purchase their new facility.

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.

29,000 SF Manufacturing Facility with Expansion Possible0

Posted by Thomas Miller, CCIM

Located in the heart of the Stead (Reno), NV industrial area, the Lear Industrial Center is just a short distance off US 395 and ten minutes from I-80. The area is home to Fortune 500 neighbors, including Dupont, Mercedes, General Motors, Firestone, and J.C. Penney.

  • Close to local labor.
  • Airstrip and golf course nearby.
  • Excellent location for a west coast manufacturing facility.

Details:

  • Available Immediately
  • Located Near US 395
  • Minutes From Reno/Sparks
  • Corner Lot in Lear Industrial Park
  • Freestanding
  • Expandable

For more information on this available property, visit Miller Industrial Properties.

Download PDF Flyer.

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

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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