4 Impacts of Autonomous Vehicles on Real Estate
Four impacts on real estate we can expect with the arrival of autonomous vehicles (“AV”):
The cost of construction will be substantially reduced (20%-25% by some estimates) if structural parking is eliminated -- greatly improving feasibility.
Because AV can travel faster and closer together, and substantially reduce the need for street parking, the vehicle, bicycle and pedestrian carrying capacity of existing streets will increase.
AV will change public transportation, causing rendering light rail systems ...
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Regal Properties Voted “San Diego’s Best” Real Estate Company
In the 2017 "San Diego’s Best" Union Tribune Readers Poll, readers nominated and voted for their favorites in various business categories, selecting Regal Properties as the Best in the Commercial Real Estate Section. We are honored and appreciative to receive this recognition -- this time by our clients -- as a leader in the real estate industry. Regal Properties proudly “Invests in People and Property” by donating 10% of all fees and commissions to ...
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Commercial Real Estate & Multi-Family Loan Considerations
When thinking about financing or refinancing CRE and multi-family properties, a borrower must consider more than just the loan term and interest rate. Finding the right lender for a particular property type and location, who can timely close a deal with the best terms for the borrower’s objectives usually requires broker expertise. The ideal financing for a property might be with a particular commercial bank, credit union or federal agency currently active in that sector ...
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San Diego’s Growing Homelessness Problem
San Diego has the 4th largest homeless population in the U.S., according to the Department of Housing and Urban Development. The homeless population continues to grow by 5% annually, and its diversity, which complicates any solution, includes:
- 8% military veterans
- 31% chronically homeless
- 39% mentally ill, and
- 20% substance abusers.
To date, the national, regional and local authorities have done little to address the problem, and the City of San Diego does not even have ...
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Regal Properties Remains Bullish on Apartments
Delayed marriages, an aging population, and international immigration are creating a pressing need for 4,600,000 new apartment units in the U.S. by 2030, according to a new study commissioned by the National Multifamily Housing Council and the National Apartment Association. Currently, nearly 39 million people live in apartments, and the apartment industry is quickly exceeding capacity. It will take building an average of at least 325,000 new apartment homes every year to meet demand; ...
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Retail Survival Strategies
As about 4,000 major retail chain stores closed in 2016, and at least 5,000 more are expected to close in 2017, retailers are scrambling to remain relevant. Survivors recognize their continued success depends upon offering what the internet can’t -- experiential customer engagement. Chains like Michaels now offer free classes and in-store events. Retailers like Best Buy now provide customer solutions in addition to products. Restaurants and malls have added entertainment components. Some companies ...
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Regal Properties receives American Leadership Award
In May 2017, Regal Properties received an American Leadership Award based on annual surveys of the real estate industry. Regal Properties encourages other real estate professionals to join its commitment to "Invest in People & Property" by donating some percentage of all fees and commissions to charitable causes.
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Zillow Tests Instant Offers with Home Sellers
Zillow has just launched a pilot program in two cities — Las Vegas and Orlando, Florida — called “Zillow Instant Offers,” with the promise that a home sale transaction can be completed in as little as a week. The new Zillow product allows prospective home sellers to receive all-cash offers from a hand-selected group of 15 large private investors along with a side-by-side comparative market analysis from a local Zillow Premier Agent. Home sellers ...
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Regal Properties Closes $5,400,000 Retail Purchase at 8.5% Cap Rate in Phoenix
Regal Properties' Senior Associate, Maha Odeh, represented the buyer in the purchase of Woodland Plaza at an 8.5% cap rate. This $5,400,000 retail shopping center in Phoenix, Arizona, located on the main retail corridor of West Bell Road, has 40,000 square feet of improvements leased by 15 tenants, including Mattress Firm, Dollar Tree and Domino's. Escrow closed on May 5, 2017.
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Looming U.S. Retirement Crisis Will Impact Real Estate
Within a decade the U.S. will face a retirement crisis. The percent of workers covered by a traditionally defined benefit pension plan that pays a lifetime annuity has declined from 38% to 20%. The percentage of workers in the private sector whose only retirement is a defined pension plan is now 10%, down from 60% in the early 1980s. A staggering 68% of working-age people (25–64) do not participate in an employee-sponsored plan. Only ...
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