Are Rents Starting To Cool Off?

Rents Decline Annually for the First Time in Six Years

SEATTLE, Oct. 18, 2018 /PRNewswire/ — Rents declined nationwide on an annual basis for the first time in more than six years. The median U.S. rent is $1,440, according to the September Zillow® Real Estate Market Report [i] . That’s down 0.2 percent (which translates to $36 in annual rent) from last September, the first annual nationwide decrease since July 2012.

Investment Opportunities

280 W 3rd Street, Pomona, CA

We’ve been “softly” marketing this restaurant property at 280 W 3rd Street in Pomona for the past several months in anticipation of updated news on the development of a major project in downtown Pomona – The Maya Theaters.

We now have confirmation that the City of Pomona passed Disposition & Development Oversight on August 6, 2018: https://pomona.legistar.com/LegislationDetail.aspx?ID=3588208&GUID=1D900F02-CF1F-4499-91A5-F16222578274&Options=&Search

My conversation with the Senior Development Director of Maya Theaters last week was insightful. They hope to complete the working drawings later this year and break ground Q3/Q4 2019. The plan is to open doors by mid to late 2020.

 Site of Maya Theaters (from the front door of the restaurant)

 

280 W 3rd Street is literally cross corner from the Maya Theater project. The theater will be a 12 to 14 big screen state of the art 50,000+ square foot facility. Foot traffic in the area will increase considerably.

The building is a 7,500 sq. ft restaurant. It’s currently set-up and can be brought back online as a 200-seat casual eatery. However, it is the perfect location to divide and convert into 2 or 3 separate concept dining/retail stores. The property is mixed use permitted. The city will approve 3 to 9 stories if high-rise residential/retail development is preferred.

280 W 3rd Street

 

https://www.dailybulletin.com/2018/08/27/new-movie-theater-for-downtown-pomona-moves-forward/

Lots of activity in the area including 2nd & Main 350 residential project.

Seeking equity partners or cash buyer. Contact me for more details:

Pete@MPiCRE.com | 949.244.2555

 

What if there was a way to experience tax deferral benefits like a 1031 Exchange but receive cash instead….

Is your 1031 Exchange in jeopardy because you can’t find an acceptable replacement property?

What if there was a way to experience tax deferral benefits like a 1031 Exchange…

But receive cash instead of having to buy a replacement property?

Well…there actually is such a strategy…and we’ve got the answer

 

 

 

 

 

Maya Downtown Pomona Theater Moves Forward

Great investment opportunity literally across from the new Maya Theaters in Pomona.

New movie theater for Downtown Pomona moves forward

It’s a question Mayor Tim Sandoval gets asked a lot: How’s the movie theater coming along? For 17 months, there wasn’t much he could say about the plan to bring a multiscreen movie house to Pomona’s downtown. The deal, after all, was held up in negotiations.

 

Why Multifamily Housing Will Dominate the Future of Real Estate

The Real Estate Market in Flux | Capital One

See our summary of long-term trends that will transform-and, in some cases, disrupt-real estate markets.

 

Will Interest Rate Hikes Start To Affect MF Acquisitions

Interest Rate Increases May Affect MF Acquisitions | GlobeSt

Don’t miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now! Free unlimited access to GlobeSt.com’s trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.

“The buyer is willing to pay above market price”….WHY???

Over the past few months,  I’ve seen emails from investor representatives urgently seeking a replacement property to complete their client’s 1031 Exchange…. 

“We are currently seeking well located Southern California Apartments for a trusted 1031 Exchange client.  The buyer is willing to pay an above market price and will have approximately $2M+ for a Down Payment + additional funds….”

My question is…WHY? Why would anyone overpay and be pressured to settle for a replacement property when they don’t have to?

If you qualify for a 1031 Exchange, chances are…You’re a great candidate for a much better alternative.

I’m speaking of the IRS program that allows you to sell today, receive a lump sum, and defer the capital gains taxes for 30 years. This approach is more flexible and much better than a 1031 exchange. It allows you to use your proceeds how, when, and where you’d like to reinvest – even non-real estate investments. You’re back in control.

The market is at an all-time high and most analysts predict a correction coming soon. Why not be ready with cash in hand to buy when prices come down? Or, work with the numerous owners who would sell now at a discount if a buyer comes with cash? If the sale of your capital asset will expose $1MM+ in capital gains taxes, we should talk.

Please feel free to call our offices directly at 800-420-3182 or email Pete@MPiCRE.com