FEATURES
Directly across from Swedish/Edmonds
Long term stable occupancy
Major renovation completed in 2009
Strong growth area
Easy access to Hwy 99 & I-5
Pride of ownership building
SALE INFORMATION
SALE PRICE - $10,900,000
BUILDING SIZE - 47,225 RSF
PRICE/RSF - $231
PROFORMA CAP RATE - 7.45%
Stevens Professional Center
This past Monday we attended a seminar at the Seattle-King County Association of Realtors entitled How to Fearlessly Ask for (and get) Referrals. The seminar provided some very useful tools to help us overcome our fears and self-limiting beliefs in asking for business referrals. We are now fired up and committed to connecting with past clients and others in our sphere to talk about helping their friends, family and associates with their needs in commercial real estate. Theres not doubt that one of us will be calling YOU soon!
If you would like to learn more about this great course and how it might benefit your business, feel free to contact us, or check out the website of the instructor (Stuart Kaufman, MS, MBA) at:
www.GetYourSphereinGear.com
"People are starting to get out and spend" Bloomberg News
Consumer borrowing rose in December for a third-consecutive month, led by the first increase in credit card charges in more than two years as holiday sales improved.
Credit rose by $6.1 billion to $2.4 trillion after increasing a revised $2.02 billion in November, according to Federal Reserve data. Economist projected a $2.4 billion increase, based on the medium forecast in a Bloomberg News survey. Borrowing remains below the peak of $2.5 trillion in July 2008.
A thawing of credit makes it more likely that consumer spending, which accounts for about 70% of the economy, will keep increasing after climbing last quarter at the fastest pace in four years. Gap and General Motors are among companies that beat sales estimates at the start of this year as customers took advantage of post-holiday discounts.
"People are starting to get out little by little, and spend" said Yelena Shulyatyeva, an economist at BNP Paribas in New York. "This is in line with consumer spending, and the overall economy, picking up."
For all of 2010, credit decreased 1.6% after falling 4.4% in 2009, which was the biggest decline since records began in 1942. Borrowing decreased in only two previous years: 1991 and 1943.
Borrowing is beginning to recover since reaching an all most four-year low of $ 2.39 trillion in September.
Revolving debt, which includes credit cards, rose $2.32 billion in December, the first gain since August 2008, according to the Fed's data. Non-revolving debt, including loans for cars and mobile homes, rose $3.78 billion for the month, the fifth-consecutive increase. The Fed's report doesn't track debt secured by real estate, such as home-equity lines of credit.
Credit availability following the recession is improving faster for companies than households, the Fed's quarterly survey of senior loan officers released on January 31st showed. Banks continued to ease standards and terms for commercial and industrial loans during the fourth quarter, while making just the "small and "mixed" changes to the terms for consumer loans, the report said.
Most banks expected loan delinquencies and charge-off rates to improve this year in every major category, the report also showed. The Fed survey showed the outlook for business loans improving the most , with 80% of banks expecting improvement for large and medium businesses, and 70% expecting gains for small businesses. Banks reported increased demand for business loans on net for the first time since 2006.
Banks also expect better quality consumer loans in 2011, with 57% predicting an improvement in credit card loans.
We think that it is essential to stay in touch with our clients as much as possible without making them feel like they are receiving spam from us. Because of that we started to send our clients monthly reports that show the progress and work that has been done on their property the month prior.
It is a great snapshot of the marketing efforts, tours and contacts that have taken place in the previous month to lease or sell their property. The photo above shows an example of one of the reports that was sent out this month.
The Greater Seattle Economic Outlook Survey, begun in July 2008, gathers information on general business conditions specific to Greater Seattle, and how national and international events and policies affect those conditions. The survey covers:
Current Business Conditions & Outlook
Sales
Employment
Financing
Inventory
Current Economic Issues
Well worth a read.
Greater Seattle Economic Outlook Survey
Last weekend, Dean and Billy joined 7 other friends and business associates for a fantastic weekend of skiing at Alaskas Alyeska Resort and with Chugach Powder Guides. Alaska is all about BIG! Big mountains, big powder, big food and big fun!
This is a great new Sale listing we just put on the market.
13540 Lake City Way NE, Seattle, WA.
Great owner/user or investment opportunity
Building signage available
Corner location with excellent visibility
Traffic counts of over 35,000 cars per day
Many building upgrades since 2004
Includes two interior shop areas with grade level loading access
Incomparable close-in Seattle location
Excellent access to Interstate 5, Seattle CBD, Northgate Regional Shopping Center, Northwest Hospital, University of Washington, Seattle University and Seattle Central Community College
Price: $1,595,000.00
Price / RSF: $163.52
Proforma NOI: $123,088
Capitalization Rate: 7.72%
13540 Lake City Way NE
If you regularly read the Puget Sound Business Journal you may have come across a great article about a local business, Dynamic Language. We are very proud to have this growing company as a client of ours.
The article is entitled "Found in Translation" and it gives great insight into what they do as a company. To sum it up, they work with businesses, government, private clients, etc. to help translation text or verbal speech. They can translate 150 different languages.
Their growth since starting in 1985 has been very impressive and they have seen a recent growth explosion due to the economy. When many companies are cutting back they are growing by filling the demand for people to expand their client base to non-English speaking customers.
It is definitely a great read and very inspiring to read about a family business that has been thriving in these tough times.
Lessons Learned
Here are tips for success from Dynamic Language:
1. Invest as much as you can in finding and hiring the best talent possible.
2. Don't take a single project for granted. Today's small project could be tomorrow's big contract.
3. Worry more about retaining customers than finding new customers.
The Puget Sound Business Journal has come out with it's annual Book of Lists and Morris Piha Real Estate Services is honored to be on two of their lists.
Under the Property Management category we were listed #12. Under Commercial Real Estate Brokerage we were listed #15.
Morris Piha is one of the largest and oldest property management and brokerage firms in the northwest. We are very proud of being recognized by the local business community for all the hard work that we do.
It's a new year so what better time to start something new. With that in mind we have started to use QR Codes for all of our listings. If you have never heard of QR codes, you have probably seen them. We have an image above of one sign that we are using with our QR codes.
All you do is scan the code with your smart phone and all of the property's information will be at your fingertips. There are lots of free apps to download on your phone to try it out.
Once you start looking, you'll be surprised just how many you will see around these day.
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FEATURES
We think that it is essential to stay in touch with our clients as much as possible without making them feel like they are receiving spam from us. Because of that we started to send our clients monthly reports that show the progress and work that has been done on their property the month prior.
Last weekend, Dean and Billy joined 7 other friends and business associates for a fantastic weekend of skiing at Alaskas Alyeska Resort and with Chugach Powder Guides. Alaska is all about BIG! Big mountains, big powder, big food and big fun! 
This is a great new Sale listing we just put on the market. 
It's a new year so what better time to start something new. With that in mind we have started to use QR Codes for all of our listings. If you have never heard of QR codes, you have probably seen them. We have an image above of one sign that we are using with our QR codes. 
Kenichi Uchikura 
ClockLink 
Mayumi Nakamura 
Seattle Execs.