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Wrapping up summer with UES sponsoring the RISE Rooftop Crawl

RISE ROOFTOP CRAWL

What is it?!

Kansas City’s fifth annual rooftop crawl is an exciting and exclusive night to explore private rooftops all with unique eccentric themed parties benefitting nonprofit Big Brothers Big Sisters. 

When is it?! Aug 24, 6:00 pm

Come to the Crossroads to celebrate an evening full of networking, food, drinks, live entertainment and interactive experiences all with a rooftop view. The fun night ends with a spectacular block party on Walnut Street in front of the BBBS building.
This years theme is All Around the World!

Find out more information on how to join UES and get involved at www.bbbsrise.org 

Need any help with Commercial Real Estate transactions of any kind? UES is fully equipped to handle any of your needs.

Want to be kept informed of exciting events like this and other industry related events? Sign up for our newsletter to stay in the know!

Wrapping up summer with UES sponsoring the RISE Rooftop Crawl

/
RISE ROOFTOP CRAWL What is it?! Kansas City's fifth annual…

UES to sponsor CREW KC's 16th Annual Golf Classic!

/
Join us at CREW Kansas City's 16th Annual Golf Classic for an…

UES Investing in the Next Generation

/
UES employees were excited to sponsor a local event that raises…

Wrapping up summer with UES sponsoring the RISE Rooftop Crawl

RISE ROOFTOP CRAWL

What is it?!

Kansas City’s fifth annual rooftop crawl is an exciting and exclusive night to explore private rooftops all with unique eccentric themed parties benefitting nonprofit Big Brothers Big Sisters. 

When is it?! Aug 24, 6:00 pm

Come to the Crossroads to celebrate an evening full of networking, food, drinks, live entertainment and interactive experiences all with a rooftop view. The fun night ends with a spectacular block party on Walnut Street in front of the BBBS building.
This years theme is All Around the World!

Find out more information on how to join UES and get involved at www.bbbsrise.org 

Need any help with Commercial Real Estate transactions of any kind? UES is fully equipped to handle any of your needs.

Want to be kept informed of exciting events like this and other industry related events? Sign up for our newsletter to stay in the know!

Wrapping up summer with UES sponsoring the RISE Rooftop Crawl

/
RISE ROOFTOP CRAWL What is it?! Kansas City's fifth annual…

UES to sponsor CREW KC's 16th Annual Golf Classic!

/
Join us at CREW Kansas City's 16th Annual Golf Classic for an…

UES Investing in the Next Generation

/
UES employees were excited to sponsor a local event that raises…

UES to sponsor CREW KC’s 16th Annual Golf Classic!

Join us at CREW Kansas City’s 16th Annual Golf Classic for an unforgettable day full of golf, networking, and supporting a wonderful organization!

WHEN: AUGUST 15, 2019

WHERE: CREEKMOOR GOLF COURSE

TIME: 8:00 AM REGISTRATION, 9:00 AM SHOTGUN START

MORE DETAILS

CREW KC and Creekmoor Golf Course have joined together for a great annual event. The course offers players a championship challenge while CREW KC allows its guests and members high quality networking. This combination gives each player an opportunity to form long lasting connections and improve their game on and off of the course.

UES is thankful to support CREW through this fantastic event and all proceeds go to CREW Network Foundation to positively affect the future of women in commercial real estate.

Golf attire is required! Collared shirts and no jeans. All participants must be at least 18 years of age.

SCHEDULE:

8:00 AM – Registration
Registration & hitting area open

9:00 AM – Shotgun start
Four-player scramble format

Approximately 1:00 PM – Post-Golf Awards Lunch

LOCATION: 

Creekmoor Golf Course

1112 East 163rd St.

Raymore, MO 64083

What’s Next with Commercial Real Estate?

Commercial Real Estate has never been in a better spot but you have to ask the question, what’s coming next?

MBA Vice President of Commercial Real Estate Research Jamie Woodwell expressed his opinion for the sector at the MBA Commercial/Multifamily Servicing & Technology Conference.

“We’re currently in the longest economic expansion ever,” Woodwell said. “There have been a couple negative quarters here and there, but not two in a row, which is the definition of a recession. So there’s been an incredibly long run of economic expansion.

Woodwell quoted multiple record-setting metrics: Commercial property cap rates are at record lows; MBA accounted a record $574 billion in multifamily and commercial mortgage bankers originations last year; plus loan delinquency rates are at or near record lows.

So, there are a lot of phenomena going on, putting us in a place we’ve never seen before,” Woodwell said. “Thus, the question becomes what’s next?

That answer is dependent on your outlook on life.

People on the optimistic spectrum may say they don’t see anything likely to change the current thriving situation. While others may say, “it’s been a great run, so I’m going to get ready for what comes next,” Woodwell said.UES Consulting Services, Phase 1 Environmental Site Assessments, Phase I Environmental Site Assessments, Phase 1 Environmental Site Assessments KC, Phase 1 Environmental Site Assessments Midwest, Phase 1 Environmental Site Assessments US, Phase I Environmental Site Assessments KC, Phase I Environmental Site Assessments Midwest, Phase I Environmental Site Assessments US, Phase I ESA, Phase I ESAs, Phase I ESAs KC, Phase I ESAs Midwest, Phase I ESAs US, Phase 1 ESAs, Phase 1 ESAs KC, Phase 1 ESAs Midwest, Phase 1 ESAs US, leader in environmental consulting and engineering services, engineering services Kansas City, environmental consulting Kansas City, Phase I Environmental Consulting, Phase 1 Environmental Consulting, Phase I Environmental Consulting Kansas City, Phase 1 Environmental Consulting Kansas City, Phase II Environmental Consulting, Phase 2 Environmental Consulting, Phase II Environmental Consulting Kansas City, Phase 2 Environmental Consulting Kansas City

So let’s get into the details…

Woodwell used the first quarter’s 3.2% real GDP growth rate to back the current strength of the U.S. economy. Unemployment rate dropped to its lowest point in 50 years and job growth has averaged above 200,000 per month thus far in 2019. “That’s boosted wages, which economists had expected would happen well before now,” said Woodwell.

On the other end, our economies great performance could guide some inflation pressure. “But that has not yet materialized,” Woodwell said. “Some think trade tariffs could start to bring more inflation on.”

With this economic situation, each commercial property type has a unique story to tell…

Multifamily sector: Moving fast in terms of both supply and demand for apartments. The younger generation is filling the shoes of their parents, which supports high demand for multifamily properties. The main surge is in Millennials since they’re beginning to demand apartments and form households; mainly high-quality urban newly developed apartments.

Office sector: Shows a long steady run of positive job growth, but on the flip side, companies are using a smaller space per employee; which leads to the recent fairly stable market. Nevertheless, wage pressure increases while employers struggle to keep their top employees in the middle of an extended strong job market.

One tool employers could use would be to reverse the recent trend of shrinking office space and increase the room given to employees in an effort to compete for talent,” he said.

Retail sector: Definitely has witnessed the largest changes, mostly due to E-commerce, which has taken over almost 10% of all retail sales and persists to grow 3 basis points each quarter.

“But consumer consumption is strong enough that both E-commerce and brick-and-mortar stores can grow–as long as consumer spending continues, Woodwell said. “But if consumer spending should slip, which will lose more?,” he asked.

Industrial Sector: Has experienced positive evolving changes that have rarely been seen in the past such as new warehouse properties with a second or third story. With manufacturing shipments and E-commerce growing at record highs, the industrial sector continues to thrive–and evolve.

In conclusion…

When I think about what’s likely to happen, I come back to the idea of a plateau,” Woodwell said. “Coming off a record year of originations, I don’t see much pulling those numbers down, and I also don’t see much pushing those numbers much higher, so we generally see a plateau for originations for the next few years. If we continue to run at this level, that still means growth in mortgage debt outstanding because of maturities, and that means there will likely be more need for servicers like you to service these loans.”

Need help with any Commercial Real Estate transactions?

Wrapping up summer with UES sponsoring the RISE Rooftop Crawl

/
RISE ROOFTOP CRAWL What is it?! Kansas City's fifth annual…

UES to sponsor CREW KC's 16th Annual Golf Classic!

/
Join us at CREW Kansas City's 16th Annual Golf Classic for an…

Commercial and Multifamily Originations Set a Record by Rising to New Levels

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Commercial and Multifamily Originations rose to new levels in 2018 with a record amount of loans resulting in $573.9 billion loans. Learn how this happened, what factors such as growing property values, low interest rates, solid fundamentals, and strong appetites from lenders and borrowers led to this record. We break down the numbers and find out Commercial Bank portfolios led the capital source then GSEs, Government Sponsored Enterprises, Freddie Mac and Fannie Mae then Life Insurance Companies and pension funds, Commercial Mortgage-Backed Securities issuers, investment funds, REITs and mortgage REITS. Multifamily properties had the highest mortgage bankers' origination volume followed by retail properties, industrial, health care, office buildings, and hotel/motel

The What, Why, and How of a Phase 1 Environmental Site Assessment

So, what is a Phase 1 Environmental Site Assessment?

A Phase 1 Environmental Site Assessment, commonly called an ESA, or Phase 1 ESA, is an assessment done to research the historical and current uses of a property as part of a Commercial Real Estate transaction.

Why do Commercial Real Estate transactions require a Phase 1 Environmental Site Assessment?

Phase 1 ESA is needed to assess if historical or current property uses have impacted the soil or groundwater beneath the property. If so, this could pose a threat to human health and a major issue for the environment. If these problems exist, then a potential liability is present for the owner and/or lender. This also affects the value of the property.

If a Phase 1 Environmental Site Assessment is finished pre-closure of a real estate transaction, it can be used to fulfill the requirements of CERCLA’s (Comprehensive Environmental Response, Compensation and Liability Act) innocent land owner defense under All Appropriate Inquiries (AAI).

Finally, how are Phase 1 Environmental Site Assessments completed?

First, it’s important to note that Phase 1 ESA’s can be done on all types of properties; industrial, multi-family residential, commercial, vacant land, and agricultural. But all Phase I ESA’s must comply with ASTM E1527-13. (exception being properties comprised of large primarily undeveloped land, which can be researched under ASTM E2247-16).

Below are the steps commonly followed for Phase I ESA’s.
1. Completing a site visit to observe uses of the property and adjacent properties along with past and current conditions of the property.
2. Reviewing federal, state, tribal, and local regulatory databases including, but not limited to, aboveground storage tanks (ASTs), underground storage tanks (USTs), known or suspected release cases, institutional and engineering controls, and the storage of hazardous substances and disposal of hazardous wastes including petroleum products.
3. Reviewing historical records, i.e. historical aerial photographs, fire insurance maps (Sanborn maps), historical topographic maps, and historical city directories.
4. Reviewing local and state agency records including, but not limited to, state environmental agencies, Fire Departments, Health Departments, and Building Departments.
5. Interviewing past and current property owners, occupants, operators, or others well known with the property.
6. Interviewing the Report User for judicial or title records for environmental liens and activity and use limitations (AULs); specialized experience or knowledge, actual knowledge; commonly known or reasonably ascertainable information; the reason for a significantly lower purchase price; and the reason for the preparation of the Phase I ESA. It’s the User responsibility to provide this information to qualify for the innocent landowner defense.
7. Finally, the Environmental Professional (EP) evaluates all of this information to identify potential environmental risks to the property. EPs highest concerns are with properties including, but not limited to, gas stations, dry cleaners, printing operations, manufacturing, and auto/vehicle repair.
8. Once the Phase I ESA is complete, the EP will summarize what issues were identified on the property and make recommended steps to address these concerns.

In summary, Phase 1 Environmental Site Assessments identify existing or potential environmental contamination liabilities. They are done to satisfy Commercial and Residential Real Estate transactions and ensure environmentally and human safety. They are completed on all varieties of properties but all comply with ASTM E1527-13. UES Consulting Services is ready and happy to help with any and all of your Phase I and Phase II ESA needs.

 

UES Consulting and our team of inspectors would be glad to help you with your Phase 1 Environmental Site Assessment.

Important Details to Note for Phase I Environmental Site Assessments…

While not part of ASTM requirements, Phase I ESA reports typically include a discussion of observed suspect asbestos containing materials (ACM), potential lead-based paint (LBP), and mold growth; as well as the potential for lead in drinking water and radon.  Sampling for these non-ASTM concerns is beyond the scope of a standard Phase I ESA, but can be included upon request.
ASTM E1527-13 provides the guidelines for a Phase I ESA report to meet industry standard, but there are other factors to consider when ordering a report.  Projects associated with Fannie MaeFreddie MacU.S. Department of Housing and Urban Development (HUD), and the Small Business Association (SBA) each have their own report requirements.  This is also true of other lending institutions.
A recognized environmental condition (REC) indicates known contamination or the potential for the subsurface to have been impacted by contamination (either from the subject property or possibly from an offsite source).  A controlled recognized environmental condition (CREC) identifies that the property has been impacted by contamination which has been investigated and remediated; however, contamination remains and would require additional work if redeveloped.  A historical recognized environmental condition (HREC) identifies a release impacted the subject property which has been investigated and remediated meeting unrestricted use criteria.

Women who are Inspiring the Commercial Real Estate Industry

Our Chief Marketing Director, Jamie Taylor, is a proud member of Commercial Real Estate Women (CREW) which is an industry networking organization. And according to a recent study published by CREW, women are advancing in commercial real estate, especially in the C-suite, and the shrinking salary gap. However, there are still areas for improvement to get more women intrigued in CRE brokerage, less of an income gap, and leasing and sales positions.

Here are 3 helpful pieces of advice to improve your professional career from respected female leaders in the Commercial Real Estate Industry.

This type of progress comes with lessons learned early on. The first few years of a career can be pivotal to future success.  Whether it is mastering the art of negotiation, relationship building, or finding your voice, these years can make or break any career.  Three women shared what they learned that helped them reach the success they have today and make their lessons work for them.

-Maryann Reid, Forbes Articles

1. Agree to Disagree

Advice given by Angele Robinson-Gaylord, President: IKEA Property, Inc.

  • As I began my career in commercial real estate, I had no idea how to build a career in this industry.  I did not study real estate in college or law school, had no family or personal connections to the industry, and was a female in a field that is overwhelmingly male. 
  • You have to be conversant in the language of real estate to do deals and build credibility.  
  • You have to recognize that every relationship is valuable. Your path will cross those of your peers time and again.  
  • When conducting transactions, you must be tough enough to get the deal done, yet you must learn to disagree agreeably to not gain a reputation as a deal killer.  
  • You must persevere in the face of any obstacle or naysayer to reach your goals.  In my case, it took 5 years to transition from practicing law to securing my first role on the business side of commercial real estate.  
  • Finally, I learned that you can’t do it alone.

2. Find Your Voice

Advice by Robin Kennedy, Executive Vice President, Acquisitions & Development: Montage International

  • Early in my career, I was put on the spot in a senior level meeting.  My opinion was different than many in the room, but I had a reasoned response. Granted, it was not the path that they chose, but that moment has had strong impact on me and served me well throughout my career.
  • Voicing my opinion was not always appropriate, as many times I wanted to learn from those with more experience.
  • But having this mindset has helped me to think about and become very practiced in how to make decisions.
  • It has helped me to take proactive ownership and move strategically forward.
  • At this point in my career, while the final decisions are often on my shoulders, I value those that can provide me with thoughtful opinions along the way.”

3. Trust Yourself

Lesley Horton Campbell, Associate General Counsel: Tiffany & Co.

  • Never be afraid to step up and trust that you are smart enough to handle a stretch assignment.
  • I made the mistake early on in my career of not stepping up for an assignment because I assumed that I was too junior and that naturally it would go to a more senior experienced colleague.
  • The next time the same opportunity came around, I quickly stepped up without hesitation and ended up knocking it out of the park.

Need help with environmental consulting? UES Consulting and our broad team of inspectors are skilled in the demands of commercial and multi-family transactions. We know how in-depth and time-sensitive Phase I Environmental Site Assessments and Property Condition Assessments are and we can help the process go smoothly and finish on time.

If you are looking for a company to partner with on your commercial real estate transactions of any kind, we are here to alleviate the weight of environmental issues and minimize risks. 

Commercial Real Estate Industry Booming