Troy Expands again with Savannah, GA Freight Station

This article is short so I'm just posting it entirely.

press release Tuesday, May 29, 2012

Georgia-Based Warehouse Marks 21st Export Receiving Station for International Shipper.

Troy Container Line, one the world’s largest American-owned NVOCCs, today announced it will open a new container freight station on June 1, 2012 in Savannah, Georgia.  Located just eight miles from the Port of Savannah, the new CFS location is strategically placed between Charleston and Miami, and offers enhanced convenience and service to the South Atlantic marketplace.

The 175,000-square-foot facility includes 47 dock doors and a C-TPAT approved security system.  It marks Troy Container Line’s twenty-first warehouse location in the continental U.S. and will conveniently serve the local market, as well as customers across six continents.

“At Troy Container Line, we continually evolve to meet the needs of our growing client base,” commented Patricia L. Fitzgerald, COO of Exports.  “In conjunction with our Charlotte, N.C. office and Miami warehouse, the Savannah container freight station solidifies Troy Container Line’s growing presence in the South Atlantic United States.”

Having recently celebrated its 28-year anniversary, the Savannah warehouse is just one of many additions to Troy Container Line’s shipping capabilities.  The NVOCC recently announced a new Chicago to Rotterdam service, as well as a direct consolidation service to Liverpool and Manchester, England earlier this year. To learn more about Troy Container Line, please visit the company’s new website www.TroyLines.com or call 1-800-331-0058. 

Read the full article at Troy Expands again with Savannah, GA Freight Station

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Industrial Notes Hit Market as Euro Zone Worries Rise

By Jennifer LeClaire Last Updated: May 24, 2012 07:27am ET

This is a fairly short article so I am re-posting it entirely. Read the full article at Industrial Notes Hit Market as Euro Zone Worries Rise

SAVANNAH, GA—Capital markets stateside are bracing for the impact of the European financial woes, but that’s not stopping notes collateralized by industrial assets from going up for sale. Two notes backed by industrial properties in Savannah, Ga. and Richmond, Va. have hit the market.

The Roseview Group, a private real estate investment and advisory firm, is the exclusive agent for the sale of the two notes. Nigel Keenan, a partner at The Roseview Group, is “confident in the quality of these assets and their ability to sell.”

The $4.3 million note in Savannah is secured by a single distribution warehouse located less than 1.5 miles from the Port of Savannah and within close proximity to Interstate 95 and the Savannah/Hilton Head International Airport.

The 10-property, $8.95 million note in Richmond is secured by eight distribution warehouse buildings and additional raw land totaling 1.67 million square feet, as well as a separate multifamily complex. The multifamly complex is historically well-occupied, which lends additional cash flow and stability to the portfolio.

The notes will be sold on an “as-is, where-is” basis without any representation or warranty. Roseview is accepting bids through June 15.

But how much interest will the notes receive in the wake of the Organization for Economic Cooperation and Development’s (OECD) Tuesday warning that Europe’s sovereign debt crisis is putting the global economic recovery at risk? And, more to the point, how will capital markets in the U.S. react to the crisis is the euro zone, which OECD Chief Economist Pier Carlo Podoan called the single biggest downside risk facing the global outlook?

CBRE vice chairman Charles Foschini tells GlobeSt.com the European debt crisis will effect CMBS lending, which is very in tune with world market movements. He says life companies will react to a lesser extent. For these reasons, multifamily will continue the easiest asset class for which to find funding.

“The true charter and essence of Freddie Mac and Fannie Mae is to provide liquidity to housing in the most volatile times,” Foschini says. “So that that is only going to create additional need and capacity for the agencies to continue funding.”


A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Why You Should Start A Company In... Savannah

BY Jude Stewart | 05-15-2012 | 12:07 PM

Steve Weathers, president and CEO of the Savannah Economic Development Authority, shares five things you need to know about opening a business in the Hostess City of the South.

The Key Reasons:

1. Number Four port in the nation by container weight = a major supply chain.
2. New WTC and thriving venture capitalism through SEDA Ventures
3. Plenty of area support for start-ups.
4. Universities galore.
5. A potential San Diego

Read the full article at Why You Should Start A Company In... Savannah by Fast Company.
A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Another prophetic doom and gloom article: Commercial real estate heading for a deep freeze- Part 1 of 3

I am seeing a flurry of buying activity. Investment groups want income producing properties and they want it now at aggressive pricing. I was sharing this with an Atlanta financial advisor and jokingly said, "I think we're all trying to make a buck [create income streams] before the crap hits the fan and the fan breaks."

Only he completely agreed. His high net worth clients are all running for the hills and taking moves now to protect their assets. He then made a few comments about the coming real estate reality. I hoped he was being pessimistic, but here is an article that extrapolates many things he said. If all you're hearing is a rosy outlook, I invite you to read this article and the two future ones for an alternative perspective.

Key Quotes:

"Investing in property is very far from being a safe, one way bet."

"The "proceed with care" warning that should accompany any property investment applies through all stages of the economic cycle. However, it is especially true today. Healthy commercial and retail property markets require two things, namely a ready supply of debt financing and a robust economic environment. Neither of these conditions pertains at present in any major Western economy."

"Among the biggest negatives has to be the fact that as far as lending on property is concerned, there is now a credit crunch that is getting to be as bad as that which followed the collapse of Lehman Brothers in 2008."

"Property lending carries a substantial capital reserve requirement so it makes eminent sense for banks to pull out of commercial property lending, or to make dramatic cuts in the amount that they are prepared to lend. This is extremely bad news for the property markets since it is the equivalent of putting a "deep freeze" on the market."

The full article Commercial real estate heading for a deep freeze- Part 1 of 3 was written by Anthony Harrington, May 14, 2012.

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Family Dollar Comes to "Parkersville"

Family Dollar crews have begun site preparation for a new store at Presidents and Pennsylvania streets. The new location should be open by September to serve Pine Garden neighborhood residents. Adam Van Brimmer writes an opinion piece on it titled The Hot Corner on Presidents Street.

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Commercial real estate refinancing is expiring

Published: Monday, May 7, 2012 at 7:37 a.m.

Summary: The U.S. Small Business Administration's temporary 504 refinancing program will come to a screeching halt Sept. 27. Unless Congress extends the deadline, small businesses with owner-occupied commercial properties might be less able to pay off balloon mortgages coming due. Others will miss the opportunity to lock in current rates below 5 percent.

Key Quotes: Lower property values along with tighter credit are a double whammy for business owners trying to refinance. But under the 504 refinancing program, borrowers can get up to 90 percent of value. What is more, most transaction costs and qualified working capital, projected for the next 12 months, may be included.

The maximum loan amount is around $9 million to $10 million, depending on the type of property and how much risk the first mortgage lender is willing to take. The approximate minimum is $250,000.

Read the full article at: Commercial real estate refinancing is expiring.

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Whole Foods officially coming to Savannah; will open in 2013

Posted: May 2, 2012 - 5:21pm | Updated: May 2, 2012 - 5:23pm

 

By Savannah Morning Newssavannahnow.com Copyright 2012 Savannah Now. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

May 2, 2012 - 05:21pm

Whole Foods officially coming to Savannah; will open in 2013

After months of speculation, it's official: Whole Foods is coming to Savannah, according to the high-end grocer's second quarter report, released Wednesday.

"The Company recently signed eight new leases averaging 38,600 square feet in size," the report states, "in North Burnaby, B.C.; Alpharetta, GA; Savannah, GA; Maple Grove, MN; Albany, NY; Brooklyn, NY; Memphis, TN; and Toronto, Ontario.

"These stores currently are scheduled to open in fiscal year 2013 and beyond," the report continues.

The Savannah store will move into a portion of the site of the former Backus family automobile dealership at the junction of Victory Drive and Truman Parkway. It will measure 35,000 square feet.

The high-end grocer will be flanked by shops in a 12,000-square-foot building. Another 12,800-square-foot building is proposed on the western edge of the site.

 

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga