Everyone even remotely involved with commercial real estate is looking for any sign of improved activity within our markets. The cover story in Commercial Investment Real Estate Magazine published by the CCIM Institute, offers hope for secondary and tertiary markets such as southern Louisiana. Because Louisiana typically lags in recession recoveries, this viewpoint may be an indication of better things to come for our market.
Matt Hudgins, a real estate writer based in Austin Texas, makes reference to a “brisk pace and healthy pricing of both leasing and investment deals” in the Midwest as well as particular “industrial hot spots.” He makes reference to areas impacted by the expansion of the Panama Canal which is not a remote concept for our area.The argument is made that industrial investors will “gravitate to secondary markets with low vacancy rates.” He speculates that there may be “an appetite for class B value-added properties.”
Charts of data from 2010 to present indicate positive Net Absorption, declining Vacancy and moderately increasing Effective Rent Growth.
Consideration of markets which are challenged offers an optimistic viewpoint that in 2013 “once the markets move past the uncertainties of 2012, companies will adjust to conditions at home and abroad and make more real estate decisions.”In Louisiana, we can add the very recent comments of a potential petroleum/chemical “Renaissance” due to natural gas and oil pricing. The future could certainly be very promising for our economy and the real estate outlook.
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Bill Jeansonne, a native of Alexandria, Louisiana, received both his undergraduate degree and master’s in business administration (MBA) from Louisiana State University (LSU). Bill has 13 years experience in the commercial and industrial real estate business and 14 years experience in commercial and industrial warehouse design and sale of handling equipment. His specializations include commercial and industrial development, brokerage, and leasing, as well as lease negotiations and tenant build outs.
A Designee member of the Certified Commercial Investment Member Institute (CCIM), Bill’s professional memberships include Baton Rouge’s Commercial Investment Division (CID), the LSU MBA Alumni Association, a founding member of the board of managers for the Louisiana Commercial Data Base (LACDB), an affiliate member of Louisiana REALTORS® (LR), an affiliate member of the National Association of REALTORS® (NAR), and a member of the International Council of Shopping Centers (ICSC). Bill has also served as a president of CID, a chairman of the CID Trends Program, a chairman of the LSU MBA Alumni Association Louisiana Looking Up Program, and on the Baton Rouge Area Chamber (BRAC) Trends committee. His current civic affiliations and past service include board chairman of the Baton Rouge Speech and Hearing Foundation, president of the Capitol SERTOMA Club of Baton Rouge, member of the Cadets of the Ole War Skule, and an alumnus of Omicron Delta Kappa (OΔK).
Saurage Rotenberg Commercial Real Estate is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).