It is our pleasure to introduce
Jeffrey Kruse, CPM
as partner and managing director of REA Property Management.  Jeff is responsible for the oversight of all daily property management operations. Jeff has a background in accounting and has over 20 years experience in the commercial real estate industry.  After starting as property accountant for the New Mexico CBRE office, Jeff has held the position as Director of Property Management for the New Mexico offices of Grubb & Ellis and Asset Management Solutions (a joint venture between Sedberry and Associates and Argus Investment Realty).

It is our pleasure to introduce
Nancy Knapp as assistant property manager. She is responsible for overseeing all aspects of the property management accounting and reporting.  Nancy has extensive experience in operations of numerous property management accounting software packages including Yardi, Timerline, MAS200, FAS and QuickBooks.  Prior to joining REA, Nancy worked at Titan Development as an Accounting Associate where she oversaw the monthly and year end property management reporting and financial functions for over 50 entities.

In these challenging economic times, professional property management is more critical than ever in maximizing the performance of an asset. At REA, we look for the potential of converting every crisis into an opportunity. We have capitalized on these difficult times by recruiting some of the most talented property management personnel in the industry. Our property management group is an assemblage of experienced personnel from leading firms in the industry, which have held asset management and property management positions at Trammell Crow, CBRE, Grubb & Ellis, and Titan Development. These individuals have a track record of excellence in providing quality service that was evaluated on a national standard.

REA manages a diverse portfolio of office, industrial, and retail properties in a variety of sizes. We take property management very seriously and are ready 24-hours a day, seven days a week to facilitate our clients' and tenants' needs. We know each asset has unique challenges and opportunities and is treated as an individual operating business. Our primary focus is to increase the assets value for our clients while minimizing the cost of ownership without cutting corners. We build long-term relationships to achieve our clients' financial goals.                                                       More Information

Albuquerque Market Statistics - Q4 2008

Albuquerque Industrial Market

*Source Torton Wheaton Research

Zenith Court
5,800 - 14,137 sf
Office/Warehouse
for LEASE
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Sawmill Sector Vacant Land
6.92 Acres
Industrial Space
for SALE
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Gateway Industrial Park
11,474 sf
Office/Warehouse
for LEASE
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What's a transaction broker to do? In 2008, commercial real estate deals were down 71 percent from 2007, according to Jones Lang LaSalle. Total 2008 volume was only $126 billion, far below 2007's market peak of $437 billion.

"[This] has been a tough year for everyone. Many good deals fell apart, over new financing conditions, lower than expected tenant occupancy, and lower net operating income," says Paul Lepine, CCIM, an associate with Re/Max Partners in Fort Lauderdale, Fla.

But as a 2008 year-end e-mail survey of commercial real estate professionals indicates, no one is giving up. In fact, most CCIMs who responded are working harder than ever. "We are working on some smaller deals, focusing on sellers with clear motivation," says Richard G. Knutson, CCIM, managing partner of Premier Apartment Advisors in Alameda, Calif.

"There's a lot of hand holding right now as people's financial lives are being turned upside down," says Brian Jinings, CCIM, a retail specialist with Grubb & Ellis/BRE Commercial in San Diego. "My days are longer, and I try to communicate with clients … with phone calls or face-to-face discussions. As real estate advisers, our role is more important now than when the market was hot."

The current economy and the lack of available credit have created a new paradigm for commercial real estate investors. Many lenders are indicating that, in the future, an appraisal won’t be enough to obtain financing: Market feasibility studies will be a necessary part of the loan request package. Buyers can help to protect their immediate and long-term returns by conducting extra due diligence processes.

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Consumer-lending activity has increased in numerous midsize cities in the U.S., a sign they are riding out the recession better than big cities and rural towns, an analysis of credit data shows.

Click on Map for Interactive Tool

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120 Aliso Drive SE
3,020 sf - Office Building
for SALE or LEASE
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The Highland Lofts
332 Adams Street SE
1,250 sf - Office Condo
for SALE
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Midway Industrial Park
3,000 sf - for LEASE
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There are more TV sets in the US than there are people in the UK.

Pop. 60,943,912
(July 2008 est.)

Commercial building construction costs decreased 5.77 percent in the first quarter of 2009 compared with the fourth quarter of 2008, according to Turner Construction Co.

Since the first quarter of 2008, construction costs have dropped 2.59 percent, according to the index.

“The cost of construction has come down as construction spending has decreased and competition in the industry has increased,” said Karl Almstead, a vice president at Turner.

However, construction activity in the education, health care and public sectors have continued to show strength, he said. Almstead said investments are also up in ‘green’ building across all segments. Green building projects could potentially benefit from the federal $787 billion stimulus package signed into law last month.

The index is determined by several nationwide factors, including labor rates, productivity, material prices and the competitive condition of the marketplace.

In the second half of 2008, commodity and material prices fell from recent highs. Material prices are now stabilizing thanks to production cut-backs and a reduction in inventory.

Turner has prepared the construction cost index for more than 80 years. It is used widely by the construction industry and federal and state governments.

Based in New York City, Turner is the one of the biggest commercial builders in the U.S. The company has an office in Albany, N.Y.

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Green Bay, WI - Press Gazette by Joe Heller - reproduced with permission.

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