Every commercial real estate entity in south Louisiana— as well as every part of the nation—would like to make the statement that the local economy is on fire and we have nothing but blue skies ahead—unfortunately we must deal with reality.
Reality of our market suggests that it has begun to improve although just a bit. We are moving in the right direction, however cautiously. Home building has not “fired up”; engineering/planning is still much too slow. Very few retail advances are on the move. There are certainly noteworthy exceptions which in themselves are encouraging.
In general, stability is needed to allow better planning and commitment. But overall, commercial transactions are experiencing some life, there is a sense of positive movement.
National summaries such as Costar Group article of September 11, http://www.costar.com/News/Article/Retail-Forecasters-See-Rockier-than-Expected-Recovery-Over-Next-12-Months/132095 maybe a bit to negative for south Louisiana.
In the short term—this means that it will continue to be a “tenant’s market”; landlords should be prepared to make the deal/keep the tenant. Re-finance– if possible —to position yourself well for the future.To read this article in its entirety click HERE.
To view Saurage Rotenberg’s Featured Property click HERE.
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 14 years experience in the commercial and industrial real estate business and 14 years experience in commercial and industrial warehouse design and sale of warehouse equipment. His specializations include commercial, office, and industrial development, brokerage, and leasing.
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 the National Association of REALTORS® (NAR). Bill has also served as a president of CID, a chairman of the CID Trends Program, a past 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 Growth Coalition; 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).