Tag Archives: utilizes

Medical, Educational and Religious Utilizes Fortify Southeastern Shopping Centers

Specialist Who Supervises 360 Southeast U.S. Residence Sees Demand From Non-Traditional Retail Tenants

Alex Munoz, managing director with Atlanta-based retail real estate company, The Shopping mall Group.Courtesy: The Shopping Mall Group.On the eve

of the International Council of Shopping Centers’ Florida conference, a specialist who supervises 360 homes in the Southeast U.S. says he’s bullish on retail, thanks to the wave of non-retailers filling shopping mall.

Alex Munoz of The Shopping Center Group stated he’s seeing more non-retail tenants leasing retail areas, which’s assisting enhance markets across the Southeast. “Non-traditional uses are becoming a vital part of retail and are inhabiting increasingly more space,” Munoz told CoStar News.

The growing popularity of “severe regional renters” with a couple of locations also is assisting fill retail areas, in addition to startup sellers, Munoz stated.

“I’m quite bullish on the Southeast right now,” said Munoz, whose group of 25 experts represents retail center owners in marketing and renting their residential or commercial properties. “We’re seeing extremely strong demand for well-located real estate.”

Munoz, a retail veteran based in Charlotte, North Carolina, was promoted recently to handling director of The Shopping Center Group, an Atlanta-based services firm that focuses exclusively on retail property. In his new position, Munoz supervises The Shopping Center Group’s 8 offices in Florida, Georgia, South Carolina and North Carolina. The portfolio consists of 34 million square feet of retail in 360 residential or commercial properties.

One of his first assignments will be to attend next week’s ICSC Florida Conference & & Deal Making event in Orlando. While there, Munoz stated he will focus on company development, consult with existing clients and display the company’s readily available properties. “The conference is essential to us” due to the fact that The Shopping Center Group has four offices and several customers in Florida.

In his 17 years in retail, Munoz has seen many patterns, including the effect technology and e-commerce are having on shopping centers and those who own them. As internet sellers and startup companies look for physical areas, property managers are becoming more versatile in their monetary requirements and lease terms, he stated.

Landlords also are welcoming non-retail tenants such as healthcare facilities, urgent-care centers, storage business, religious outfits and instructional outlets to fill spaces in their centers, Munoz stated. “It’s all about these non- conventional tenants making it easier [for clients and consumers] to access their services,” he said.

One week into his new role, Munoz stated he leans on characteristics he got from one of his very first jobs as an instructor with Miami-Dade County Public Schools. “As an instructor I discovered the requirement for persistence, strong communication skills and strong planning,” and the very same uses in retail,” he stated.

Nevada couple utilizes law to seize deserted home

Monday, Feb. 5, 2018|2 a.m.

RENO– A Reno couple used an obscure law to acquire a deserted house in an older, high end part of town where similar brick, Tudor-style homes are costing more than $400,000.

Vickie and Jeff Francovich paid $6,500 in delinquent property taxes on a home in Reno’s Newlands Heights Historic District and began sprucing up the home to relocate, the Reno Gazette-Journal reported.

The expense of the repairs and taxes was more than the house deserved when they discovered it in 2012, Vickie Francovich stated. Online property database company Zillow estimates your home is worth more than $500,000 today.

Instead of purchasing the house from the owner, the Francoviches made the most of a law called negative possession that permits anybody to trespass and take an abandoned residential or commercial property after fulfilling certain requirements.

In Nevada, that person can invest 5 years paying real estate tax and, if they desire, improving the home, prior to suing the present owner for the title.

Unfavorable possession exists since the American legal system usually prefers land to be utilized instead of sit unused, stated Steve Silva, a land use and eminent domain attorney at Fennemore Craig who teaches residential or commercial property law at Truckee Meadows Community College.

“Do you want an absentee owner who ignores the property and leaves an uninhabited home or fallow field, or do you want somebody who takes care of it and improves it?” Silva said. “The law does not like waste.”

However the law is hardly ever used to take control of a whole home. The Francoviches’ lawyer, Michael Hoy, estimated this would be the sixth such case in Nevada.

But there’s a catch to the law.

If the owner returns, they can combat to gain the residential or commercial property back.

“It’s interesting in the sense that it is various– it’s not something many people understand, I had never ever heard of it,” Vickie Francovich said. “For 5 years we wondered, ‘Exactly what do we do if she comes back?’ And she didn’t return. So that’s the statute of restrictions.”

Over the last six years, the Francoviches lived in your home part time and leased it out while waiting on the five years to pass. They have actually also lived in their own house, which they are now selling.

The house’s previous owner, Joan Brown, acquired your house in the late 1970s after graduating from the University of Nevada, Reno, according to court documents and Brown’s longtime friends. She lived in the house till about 2005.

Brown’s sister-in-law told Vickie Francovich they hadn’t seen Brown in more than Ten Years, however that she always wished to go to Europe. Among Brown’s cousins likewise stated he was not thinking about the house and only wanted to learn where Brown went, inning accordance with Reno cops interviews.

A private detective might not discover what took place to Brown after 2009.