National vs Local Markets
The Market Forecast article “Slowing Ahead” in the March/April 2019 Commercial Investment Real Estate magazine of the CCIM Institute outlines expected national trends. Local trends may vary considerably. The article distinguishes “thriving secondary and tertiary markets” in certain business sectors.
Highlights of the article by Jay Olshonsky include:
- Factors affecting the slowing of the real estate market in general.
- Business and individual migration affecting office and retail sectors.
- New tax laws encouraging relocation from “high-cost” states to lower or non-personal income tax states.
- Continued strength in industrial, manufactured housing and senior housing sectors.
- Rising construction cost in multifamily; flat office demand in most cities.
- Other than food anchored centers, an almost “nonexistent” retail development.
These observations reflect national trends, our local business profile frequently “lag” the national market and we may also share benefits as do the other secondary and tertiary markets.
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 began his career in commercial real estate in 1997 after 14 years experience in commercial/industrial warehouse design and sale of handling equipment. His specializations include commercial and industrial development, brokerage, and leasing, as well as lease negotiations.
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), a member of Louisiana REALTORS® (LR), a 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 and president of the Capitol SERTOMA Club of Baton Rouge. He is currently a member of the Cadets of the Ole War Skule, an alumnus of Omicron Delta Kappa (OΔK), and a member of the Lakeshore Lions Club.
Saurage Rotenberg Commercial Real Estate, LLC 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).