Tuesday, December 31, 2013

Key Components of a Successful Social Media Strategy


Les Adkins, CEO, Orange SMS

Observations by Michael Bull, CCIM, Founder, Bull Realty Inc., Atlanta, GA

In today’s online world, having an effective social media presence is more important than ever. To achieve a proper return on investment, successful business users utilize a well-planned social media strategy

Michael Bull
I had the opportunity to speak on some panels with social media strategist Les Adkins, CEO of Orange SMS. With everyone so impressed with his advice, we invited him to Studio One to share some best practices with the “Commercial Real Estate Show” audience. We discussed several key components of a good social business strategy, including how to pick the right platforms and how to attract the right audience for your specific business.


Creating a Strategic Plan

When building a social media strategy, the first two questions you should ask are “Who is your audience?” and “What do you want them to do?” Adkins said.

 Based on your answers, you’ll be able to choose which platforms are best for you to focus on and what kind of content you’ll want to create.

 Keep in mind that innovation and technology change rapidly, so you must have a fluid strategy that you are constantly reviewing, Adkins said.

For example, our audience for the “Commercial Real Estate Show” is nationwide and somewhat worldwide, so we post information interesting to a very wide commercial real estate-oriented audience.  

However if you’re an office tenant rep in New York, you should post information interesting to business owners in New York, and not always real estate oriented. Include HR, sales and other items interesting to business leaders in your area.

“It’s important to include a combination of some personal information along with business information on social media,” Adkins added. “People want to do business with people. Social media allows people to feel connected to your employees, even if they have never met. They are more likely to promote your organization if they can see that you are an entity of individuals.”

There are several tools that can help create efficiencies with your social media endeavors, like HootSuite, but you have to be careful how you use them, Adkins said. 

For example, some platforms allow you to pre-schedule posts, which is good within a small timeframe. 

If it’s too far out, your audience could change or there could be some kind of event that might make your information irrelevant, he added.

Choosing Platforms

What platform you use depends on your audience, Adkins said. The top three social media platforms are Twitter, Facebook and LinkedIn, but others such as Instagram might be a good fit depending on the interests of your audience and where they are active.

It’s important to know which platforms your best customers are most active in, Adkins said. “If your audience is on Twitter and your business isn’t, they may not do business with you because to them you don’t exist.”

Mistakes to Avoid

When launching your social media platforms, it’s important to know what not to do. If you are just starting out and you try to sell something, it won’t work and you’ll immediately lose your audience, Adkins said. “If you do something wrong on social media, people are much less forgiving and the mistake can take longer to overcome.”

A lot of big companies still try to use social media platforms for push marketing, but it’s more about attraction marketing because you are trying to build loyalty and trust, Adkins said. 

If your social media audience trusts your organization, they’ll be more likely to purchase and promote your product or service. You should post, re-tweet and share information helpful to your target customer to attract them.

We recently started another attraction marketing system utilizing twitter and YouTube. Called “Ask Michael Bull,” I answer a commercial real estate-related question on video each business day. You’re invited to check it out on twitter at @AskMichaelBull or at the play list “Answers” on the show’s YouTube channel.

To hear more tips and best practices, you’re invited to listen to the on-demand show podcast on iTunes or at the show website.

Michael Bull, CCIM, is the host of the nationally syndicated Commercial Real Estate Show and founder of Bull Realty, Inc., a U.S. commercial real estate sales and advisory firm headquartered in Atlanta. Michael on Twitter and LinkedIn.


Industrial Strength: Sector Making Significant Strides




Observations by Michael Bull, CCIM, Founder, Bull Realty Inc., Atlanta, GA


Michael Bull
With the housing market starting to pick back up and absorption on track to outpace last year, the industrial sector has continued its recovery, its sights set on a bright 2014.

That recovery was the focus of the most recent episode of the “Commercial Real Estate Show” radio program. My guests and I discussed the specific factors driving the recovery, such as the growth of e-commerce, as well as the return of new development.

Who’s Steering?

A steadily improving economy has led the industrial market to experience improving fundamentals for the last 13 quarters, said Rene Circ, director of research at PPR, a CoStar company. 

Approximately 33 million square feet of absorption occurred nationwide in third quarter for a total of 79 million square feet year-to-date, he said.

Rene Circ
“All we need is 3 million square feet of absorption in the fourth quarter to surpass absorption in 2012,” Circ added. “We are forecasting [the fourth-quarter total] to be closer to 30 million square feet.”

So what specifically is driving the recovery? The housing sector, for starters. “Housing was an anchor on the industrial market, but now that’s not the case,” Circ said. 

“The housing market has legs. That’s why we are seeing recovery in the light-industrial segment.”

In third quarter, approximately 60 percent of the 1,200 submarkets tracked by PPR saw improvement in the light-industrial segment — buildings that are approximately 100,000 square feet. 

Vacancies in that segment are about 7 percent, better than the 7.9 percent vacancy for the industrial market overall.

E-Commerce Remains Hot

Summey Orr
“When e-commerce first emerged, so many people said ‘That’s going to take commercial real estate under,’ but that doesn’t make sense,” said Summey Orr, managing partner of Hartman Simons.

 “Merchandise has to be housed somewhere. We’ve seen a lot more industrial development as big retailers are building large rapid-deployment centers closer to major commerce areas so the product can be shipped more quickly.”

Amazon has been the leader of this trend, said Sim Doughtie, president of King Industrial Realty Inc. “An economist from Texas A&M said that when Amazon had $58 billion in sales they had replaced approximately 128 regional malls,” he added.

“With Amazon delivering some items the same day, now that’s going to affect commercial real estate,” Orr said. “That means there are more opportunities for developers to get out there and find buildings to be a part of.”

Sim Doughtie
However, investors should be wary of the huge industrial distribution buildings that companies like Amazon are building, Circ said. “It’s a safe assumption that Amazon will leave after the first lease or possibly extend their lease for five years,” he said. “As an investor, you have to think about who would be willing to lease that space.”

Development Starting Again

Development has started to pick up, with strong industrial markets such as Houston, Dallas and Los Angeles seeing both speculative and build-to-suit activity, Doughtie said.

Markets like Chicago and Atlanta are still seeing more build-to-suit product, as vacancies in those markets still remain high. “For example, Atlanta has had 24 build-to-suit developments take place during the last couple of years, but only two speculative projects,” Doughtie added.

“We are actually doing a lot of deals where lenders are lending to developers to build new products,” Orr said. “That’s a real sign that this isn’t just a mythical recovery.”
For companies looking for new development sites, it’s imperative that they define their needs exactly, Doughtie said.

 “A lot of companies get off course because they don’t define clearly what it is that they want. They might have a national broker, but they need a local broker too who knows the market, incentives and where the properties are.”

A lawyer or broker can help navigate through the process of getting incentives for new developments or relocations, Orr said. “It’s becoming more and more important to use incentives. It can make a dramatic difference in the bottom line.”

The entire episode on the U.S. industrial market is available for download at www.CREshow.com.

Michael Bull, CCIM, is the host of the nationally syndicated Commercial Real Estate Show and founder of Bull Realty, Inc., a U.S. commercial real estate sales and advisory firm headquartered in Atlanta. Michael on Twitter and LinkedIn.

1,780 New Condos Unsold In South Florida From Real Estate Crash Of 2007




MIAMI, FL -- Less than 1,780 new condos from a pool of nearly 49,000 units created during the last South Florida real estate boom are unsold in the seven largest coastal markets of Miami-Dade, Broward, and Palm Beach counties as of the third quarter of 2013, according to a new report from CondoVultures.com.

Between July and September of 2013, buyers paid nearly $84.7 million - an average of about $470 per square foot - for almost 150 condo units in projects built since 2003 east of Interstate 95 in the coastal markets of Greater Downtown Miami, South Beach, Sunny Isles Beach, Hollywood / Hallandale Beach, Downtown Fort Lauderdale and the Beach, Boca Raton / Deerfield Beach, and Downtown West Palm Beach and Palm Beach Island, according to a report based on the Condo Vultures® Official Condo Buyers Guide™ eBook series.

The buying activity - at a pace of nearly 50 new condos monthly - in the third quarter of this year reduced the number of unsold developer units to more than 1,775 condos as of September 30, 2013, according to the report.

Peter Zalewski
"Developers in South Florida are still in possession of about four percent of the condo units created during the last boom-and-bust cycle that began in 2003," said Peter Zalewski, a principal with the Greater Downtown Miami-based real estate consultancy Condo Vultures® LLC.

"At the current 2013 sales pace of more than 75 transactions monthly between January and September, the unsold developer units from the last South Florida condo boom-and-bust cycle should be absorbed in about 23 months.

“The unanswered question is what impact the more than 180 pre-construction condo towers proposed - or under construction - in South Florida will ultimately have on the unit inventory from the last real estate boom."

Since the week of October 14, 2013, CondoVultures.com has been profiling condo trends in the third quarter of 2013 in the 10 largest coastal markets in the tricounty South Florida region of Miami-Dade, Broward, and Palm Beach counties.

 For a complete copy of the company’s news release, please contact:

Condo Vultures® LLC
225 Midtown Building
 225 NE 34th Street
 Suite 209B
Downtown Miami, Florida, 33137.

1-800-750-0517.

Bull Realty Brokers Sales of Three Office Properties in Metro Atlanta


3050 and 3060 Royal Boulevard South, Alpharetta, GA

Casey Keitchen
ATLANTA, GA (Dec. 31, 2013) – In separate transactions, Bull Realty has brokered the sales of three metro Atlanta office properties. The properties, which are located in Acworth, Ga., and Alpharetta, Ga., total more than 78,000 square feet.

• SugarOak Investors acquired 3050 and 3060 Royal Blvd. South in Alpharetta for $3.9 million. The two office buildings total 60,352 square feet and have a combined occupancy rate of 70 percent. Tom Shafer and John Hinson of CBRE represented the seller, KR Office Investors LLC, and Casey Keitchen, a vice president in Bull Realty’s National Office Group, represented the buyer.

• An Israeli-based investor purchased the 18,000-square-foot Building 800 in the office park located at 4900 Ivey Rd. in Acworth for $960,000. In partnership with the FDIC, a regional bank sold the property, which has an occupancy rate of 50 percent. Keitchen represented the sellers in the transaction.

4900 Ivery Road, Acworth, GA
 “These sales are an example of investors’ increasing interest in suburban product as they search for opportunities to increase yield,” Keitchen said.

 “Investor interest has continued to increase throughout 2013 for both distressed and stabilized office product alike. As 2014 gets underway, we expect to see office investment sales activity continue to accelerate for both core and value-add opportunities like these.”

Bull Realty Inc (www.BullRealty.com) is a U.S. commercial real estate sales and consulting firm headquartered in Atlanta. The firm was founded 16 years ago with two primary missions: 1) to provide a company of stellar integrity and reputation, and 2) to provide the best commercial real estate marketing in the nation.

 For a complete copy of the company’s news release, please contact:

Savannah Duncan • The Wilbert Group
1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309
O: 404-343-0870  • M: 404-901-4433

Veteran Attorney Joseph J. Fucile Joins Hartman Simons Law Firm in Atlanta, GA


Joseph J. Fucile
ATLANTA, GA – Joseph J. Fucile, whose legal career includes a nearly six-year stint with the University System of Georgia, has joined the Hartman Simons & Wood (Hartman Simons) law firm as senior counsel. His practice will focus on commercial real estate matters.

Fucile, who most recently worked as a sole practitioner, served as director of real estate services for the University System of Georgia from 2007 to 2013.

There, he managed the legal and real estate issues of a portfolio that includes more than 9,000 buildings owned by the system as well as nearly 3.6 million square feet of space that it leases.

Fucile worked at Hartman Simons, where he served as an environmental and land development attorney for international retailers and commercial developers, from 2000 to 2005, and he later practiced at Kilpatrick Townsend & Stockton in Atlanta, where he represented clients in commercial real estate and construction contract matters.

Before attending law school, Fucile worked as a planner in the Putnam County, Fla., Department of Planning, Zoning and Building, and as a senior management analyst for the State of Florida’s Division of Emergency Management.

Summey Orr
“Joe brings both a depth and range of experience and expertise that will serve our clients very well,” said Summey Orr, managing partner of Hartman Simons. 

“His intelligence and skill were tremendous assets to our firm during his initial tenure at Hartman Simons, and we could not be more excited about his return.”

Fucile is a 1999 graduate of the University of Florida College of Law. 

He also holds a Master of Arts in Urban and Regional Planning from the University of Florida College of Architecture and a Bachelor of Arts from Florida Atlantic University. 

He was named a “rising star” in Atlanta magazine’s Super Lawyers issues in 2005, 2006 and 2007.





For a complete copy of the company’s news release, please contact:

Stephen Ursery
The Wilbert Group
404.549.7150 – office
404.405.2354 – cell
sursery@thewilbertgroup.com


Cuhaci & Peterson Architects awarded contract on redevelopment project in Hialeah, FL

       
Typical Aldi Grocery Store exterior

ORLANDO, FL--- Cuhaci & Peterson Architects Engineers Planners, based in Orlando’s Baldwin Park started work on a redevelopment project with Sears Holding Co. on a former K-Mart facility in Hialeah.

Lonnie Peterson, chairman at Cuhaci & Peterson, said the facility, originally 100,000 square feet and now under construction, will be home to an 18,000 square foot Aldi grocery store and an 80,000 Sears store.

 Cuhaci & Peterson Architects is one of the nation’s leading designers of retail space with projects that total more than two million square feet annually.

For a complete copy of the company’s news release, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications, Inc. 407-644-4142, lvershelco@aol.com

   

Cuhaci & Peterson Architects awarded contract to design “Retail Center” by Palm Beach Mall in West Palm Beach, FL

                                                          
Palm Beach Mall, West Palm Beach, FL

 ORLANDO, FL--- Cuhaci & Peterson Architects Engineers Planners, based in Orlando’s Baldwin Park, recently won a contract to design a new “retail center” located off I-95 by the Palm Beach Mall on Palm Beach Lakes Blvd. in West Palm Beach.

Lonnie Peterson, chairman at Cuhaci & Peterson Architects, said the power center totals 310,100 square feet and the developer is New England Development in Boston.

For a complete copy of the company’s news release, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications, Inc. 407-644-4142, lvershelco@aol.com

   

Cuhaci & Peterson Architects complete design work on Eagle Creek Center in Orlando, FL


Eagle Creek Golf Course, Orlando, FL

ORLANDO, FL --- Cuhaci & Peterson Architects Engineers Planners, based in Orlando’s Baldwin Park, recently completed design work on Phase One of a new Eagle Creek Retail and Business Center.

Eric J. Emerson, Vice President,
Emerson International Inc.
Lonnie Peterson, chairman at Cuhaci & Peterson said Eagle Creek is located off Narcoossee Rd. and Phase One of the center will offer around 28,000 square feet of restaurant, retail and professional office space that will be ready for occupancy in the fall of 2014.

The owner and developer of the project is Emerson International, Inc.

Cuhaci & Petersen Architects is one of the nation’s leading designers of retail space with projects that total more than two million square feet annually.

For a complete copy of the company’s news release, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications, Inc. 407-644-4142, lvershelco@aol.com