The Mystery of Electrical Power – A Primer from Miller Industrial Properties0

Posted by Thomas Miller, CCIM

mystery-electrical-power-miller-industrial-propertiesIt’s my suspicion that Miller Industrial Properties spends more time ensuring our facts are correct on our listings, and that’s especially true for electrical power details. Current, power, 110, meter sockets, volts, 277, transformers, 480, 4 ‘ought’ wire, amps, MSW ( main switch board), AC, circuit breakers, DC, 3 phase, 208, AC-DC, 60 Hz (hertz), ground fault, resistance, distribution panel, watts, single phase, 220, connected load, efficiency, circuit – these are all mysterious words to many. They were to me for a long time as well, and no amount of explanation from the professionals ever seemed to make sense. We prepared this primer to take the mystery out of electrical power, to illustrate why we as real estate professionals need to understand certain elements of these items, and to explain why they need to be reported accurately to our clients in our promotional materials. … Read more →

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Industrial Real Estate Listings in Northern Nevada0

Posted by Thomas Miller, CCIM

reno-nevada-miller-industrial-propertiesLast week, we talked about industrial real estate FAQs for northern Nevada and why the Miller Industrial Properties website ranks so well despite not having a dedicated FAQ page. Another search term for which the MIP site ranks well is industrial real estate listings in northern Nevada. And that’s entirely due to the comprehensive database of industrial listings we maintain. … Read more →

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Top Two Environmental Concerns When Buying an Older Building0

Posted by Thomas Miller, CCIM

old_buildingOlder industrial and commercial buildings can have unique characteristics that make them worthy of consideration for a number of companies. But environmental concerns need to carefully factored because they can result in potential liability issues that come with significant economic impact. Here are two environmental issues to consider when it comes to buying older buildings. … Read more →

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TB Woods, Inc. Signs Long-term Lease with Miller Industrial Properties0

Posted by Thomas Miller, CCIM

 TB Woods, Inc. Signs Long-term Lease with Miller Industrial Properties

Reno, Nevada (June 24, 2013) – TB Woods, Inc., recently signed a new long-term lease at 690 Overmyer Road in Sparks, Nevada. The 150-year-old company, a division of internationally based Altra Motion, Inc., distributes belted drive systems and coupling systems and looked to Miller Industrial Properties in Reno for assistance in locating and securing its new location.

“Tom Miller was highly aware of market conditions and streamlined our search process,” said Edward Novotny, president of TB Woods. “The lease transaction went smoothly and we have a new location that suits us perfectly and reduces our fixed operating costs as well.”

The company’s existing warehouse facility has become outdated and was too large for its current business model. TB Woods expects to occupy the new 17,600 square foot facility by late summer.

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Miller Industrial Properties Brings GE Capital’s 44,690 sf Reno, NV Property to 100 Percent Occupancy.0

Posted by Thomas Miller, CCIM

GE Capital Building full Occupancy - Reno NV

(Reno, NV) Miller Industrial Properties has completed the lease-up of GE Capital’s 1105 Rock Blvd., Brookside Project, Reno, Nevada. The 44,690 sf property is part of a 261,141 sf, 3 building complex, adjacent to the Reno-Tahoe International Airport. The property is now fully long term occupied, according to Tom Miller, President of Miller Industrial Properties.

“The completion of this building’s lease-up, especially in this low demand – extremely high competition time in the economy reflects the high level of effort of Miller Industrial and how the firm approaches the marketing and transaction management”, said Miller. “We always strive to provide a cooperative, partnering approach to the property ownership, we were able to draw upon our respective strengths to win highly contested leases and complete successful long term renewals. The joint approach facilitated these transactions and provided prospective and existing tenants positive results.”

Completing the lease-up, we recently finalized a new lease transaction with Houston based GHX, Int. / Delta Rubber encompassing 10,700 square feet in the properties’ last vacant space. Recent renewals were to existing tenants Interlock, USA with 18,440 sf and Simplex – Grinnell / Tyco at 15,550 sf.. This completes this building 100% and brings the overall project to just under 75% total occupancy.

About Miller Industrial Properties

Miller Industrial Properties
is an industrial real estate brokerage in Northern Nevada. For almost 4 decades, the company has successfully assisted numerous national, regional and local businesses relocate and expand in Northern Nevada. Miller Industrial Properties is highly recognized in the area for their knowledge, expertise and consistently professional services to their clients.

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.

157,000 SF Clear Span Manufacturing Building Silver Springs Nevada0

Posted by Thomas Miller, CCIM

[youtube=http://www.youtube.com/watch?v=EuD15cic9xs&w=430&h=248]

157,000 SF Clear Span Manufacturing Building with Airport Access

600 Lake Street, Silver Springs, Nevada

  • 3,300 Lineal Feet 6’ Chain Link Barbed Wire topped fencing with 30’ automatic rolling gates with keypad and remote entry
  • Extensive Perimeter Lighting
  • Excess Land for Expansion
  • Located Adjacent to Silver Springs Airport
  • One Day Access to Western States
  • Well Insulated
  • Skylights
  • Mezzanine Storage over Office in Fabrication Building
  • Former truss manufacturing facility built in 2006
  • Offered for sale significantly below replacement cost

For more information, please contact:

Brad Lancaster
Miller Industrial Properties
Reno Commercial Real Estate

775-828-4665 ext 17 – Phone
775-690-0535 – Cell
brad@millerindustrialproperties.com

Manufacturing Facility for Sale Details

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Patti Fox joins the Miller Industrial Team0

Posted by Thomas Miller, CCIM

Career Summary

Patti Fox joined Miller Industrial Properties in 2012 as a Sales Associate. Patti brings 10+ years of real estate experience with the last two years primarily focused on the marketing of Industrial property in the Inland Empire of Southern California. With her recent relocation to the Reno Market, she looks forward to bringing her previous years of sales and property management experience to benefit the Miller team.

Experience

2009 –2011: CB Richard Ellis | Client Services Specialist (sales and marketing)
2008 – 2009: Coldwell Banker Premier | Sales
2000 -2007: Pine Tree GMAC Real Estate | Broker Associate and Property Manager

www.MillerIndustrialProperties.com

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Standing out from the Reno Commercial Real Estate Competition0

Posted by Thomas Miller, CCIM

Reno Commerical Property - Stand out from the competition
Reno Commerical Property - Stand out from the competition

Record vacancy, sub performa lease rates, extreme competition over every deal

In today’s challenging real estate environment, landlords need every possible advantage going for them to help separate their property from the pack. Street signage has been an almost forgotten marketing tool. Every company has a logo and a corporate color and their real estate signs reflect those designs and the landlords get what they get.

Miller Industrial Properties has created a brand new sign specifically designed to attract maximum attention to our landlord’s properties.

Interested in learning more about selling your commercial property in Reno or Sparks NV. Contact Miller Industrial Properties for more Commercial Real Estate Property needs. 1(775) 828-4665.

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Your Own Personal Report Card3

Posted by Thomas Miller, CCIM

I noticed a magazine lately with the lead story entitled “Can ONE NUMBER help you delight customers ?”  It was in Fortune Small Business. Since I was in a doctors’ office and had the time, I read the article. It interested me since we are all in the customer satisfaction business, whether we want to be or not. What could this secret, magic ‘number’ be that defines how we are doing with our clients ? The article refers to an evaluation system developed by Fred Reichheld, a partner at a Boston consulting firm. It’s called the Net Promoter Score, or NPS to those in the know. It represents a numerical factor of your customers who are promoters of your services to others. Those clients of yours that are so enamored with your product or services that they actively promote your business to others they interact with. Then the formula deducts those customers who are ambivalent or did not care for your services or product; called detractors. So, it’s the promoters minus detractors = your score, or ‘NPS’.

To get your NPS, customers are asked to rate your services / products on a score from 0 to 10. Promoters are rankings 9 to 10. Passives are 8 to 7, these ranks are not in the formula at all. Detractors are 6 thru 0. The percentage of promoters less the percentage of detractors equals your score. Apparently this scoring system is being embraced by businesses and growing in popularity. So, not only will people have their credit score to discuss over their morning latté’s, but now their NPS score as well.

Whether one cares to initiate such a program within your business or not; what I took away from the article was the mindset of a participant company’s employees. If they were to buy into the system, when they are dealing with a customer at any level, they are thinking of……” OK, will my service be worthy of a 9 or 10 ranking ?”  To me, if I rank a service or product a 9 or a 10, it had better be pretty darn good. Approaching perfection as I would define it. Now ask yourself, would the last customer you just interacted with before you read this Blog article rank your service at a 9 or 10 ?  When I asked myself this question, the answer was ‘probably not’. Maybe something more of a 7-8.          

Most managers agree that customer retention is extremely important in growing any business. So what do we do about the general lack of excellent customer servcie we are so good at giving out ? Well, we might start asking our customers how they liked our service / product. Then listen to the answers. Resist all urges to be defensive, since that alienates the customer and defeats the whole process. Maybe the customer’s complaint was that you didn’t provide XYZ. Let’s say you actually did. Then obviously you did not effectively communicate the fact that you did provide XYZ, correct ? Candid customer feedback can provide invaluable criteria to improve your services. Maybe this is something we all should start to think about and how it fits our business profile.

Whether we’re an owner, a senior manager, junior manager, in sales, in charge of filing  or putting products into boxes for shipping, we all need to be thinking about asking for feedback in how we are doing, so we can improve. We all need to keep this ‘NPS’ concept in mind. Our personality, our moods, our workload, our personal stresses all mean nothing to that next customer who presents themselves to us…..all they want is excellent service in exchange for their business. And they deserve to get it. And they will get it, from others if not from you.

Last thought……I had an acquaintance that worked for The Disney Company in Anaheim, Ca., and knew about the operations at Disneyland . He told me something that really stuck with me.  He said that when any employee goes outside the employee area in Disneyland, into the public area; they ALL are acting out their respective parts. Well, that’s obvious with Cinderella and Goofy, but it is also true for the guy in the red and white stripped searsucker coat that has that dustpan on a stick who sweeps up the spilled popcorn on Main Street, USA.  That guys’ part is to act as the friendly, smiling, clean outfit, well informed, wonderful guy who sweeps up popcorn and loves his job and loves the kids and loves the adults spilling crap all over his sidewalk ! No grumbling, no complaining, no grousing, only smiles. Now that guy would rate a 9 or 10 in my book. He does his job and he elevates my Disneyland experience while doing it. My judges card reads a 9.35.

So look at yourself honestly and if we’re not acting the part of the wonderful owner, senior manager, junior manager, salesperson, filing person or shipping clerk, maybe we should give it some thought. Maybe that alone might raise our NPS with everyone.

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.

Guest Post – Spring 2008 Market Conditions – by Phil Mahony2

Posted by Thomas Miller, CCIM

phil8646ab.jpgI have to say honestly – as I always do – that this sub-prime problem is obviously bigger than I anticipated.  The amount of leverage in “hedge” funds and many of the big banks has caused some serious dislocations.  We have had bad actors – some secondary mortgage companies that have not allowed folks to refinance their first mortgages, primary dealers that have backed away from supporting auction rate securities markets, predatory lenders, etc.  The scope of this problem also caught the Treasury and the Federal Reserve (Fed) by surprise, but they are catching up fast.  The Fed has cut rates sharply and will likely cut them again.  They have also injected more than $60 billion into the banking system and announced that they are expanding that program by another $100 billion this month.  Washington has moved quickly with the short-term fiscal stimulus package.  Many of you should be seeing tax rebate checks by May.

All this turmoil in credit markets, continued increases in oil prices and the psychological impact of the scary headlines has slowed the economy.  Real GDP rose 3.8% and 4.9% in the second and third quarters of last year, but was up only 0.6% in the fourth.  Last Friday, 3-7-08,  we got an employment report that showed a 63,000 decline in payroll employment in February, following a 22,000 decline in January.  At this point it looks as though GDP growth will be in the +0.5% to -0.5% range in the first quarter, with another round of credit turmoil, housing declines and sky-high oil prices placing a big burden on the economy.  My two biggest concerns have worsened – oil prices are still rising, and the dollar exchange rate continues to fall.  In both these areas I think government policy has been poor.  So, while I still think we will avoid recession, the odds are rising.

However, it is important to maintain perspective.  Last week, the Fed released data for the nation’s balance sheet for the fourth quarter.  While this vast compendium of data shows trouble in banks, it also shows great areas of strength.  U.S. household net worth dropped $533 billion in the quarter, but still shows a rise of $1.9 trillion over the last four quarters to a whopping $57.7 trillion.  U.S. non-financial corporations increased net worth by $1.8 trillion over 2007 to $16.1 trillion at year end.  At that point their net worth was 33% above their aggregate equity market value, and their debt to net worth ratio fell to a 22 year low.  Finally, when you hear people throwing around big hypothetical numbers like “$500 billion in bank write-downs”, remember that $500 billion amounts to 3% of the $15.8 trillion in financial sector debt.

In times like this, investment decision making gets tough and time horizons shrink.  While I cannot say whether this market turmoil will be long-lived or not, I do believe that the actions being taken by the Fed will turn things around.  I think selling out of some equity sectors that have been, in my opinion indiscriminately hit (technology, healthcare and exporting industrials), or going to cash would likely be a mistake.   As always, please call me at 775-850-2500 with any questions or concerns.

Phil

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