Summary
Active Transactions:
New Listings:
Development Projects:
Active Prospects:
Notes
Transcript
No, this is Alicia.
Alicia Huston was the architect.
Yeah, she's coming in on it. She's a marketer? Yeah.
Yeah. So she's going to come in sometime next month and talk about her services.
I've got some others that I'm working on to try to get into your environmental. You guys have. You know, a lot of questions about environmental as you should. We're probably going to bring a surveyor in here to talk to us a little bit about surveying. There seems to be some confusion on some of y'all's parts about different types of surveys. There's a whole long list of surveys that you can order. A survey is not a survey. I mean, you've got altas and boundaries and topographical.
I mean, you've got a lot. So, I'm gonna get a surveyor in here, Mike Kennedy. We're gonna bring him in and talk about roofs a little bit. Ah. There's not the same roof over and over and over again. It's all different types of roofs and roof issues. you But the goal is just to continue to educate y'all. I have the benefit each day of seeing the questions you guys are bringing to me, and sometimes I'm like...
We're doing a horrible job of educating our people because he should know the answer to that question. However, I am very happy that you asked the question because And in that same vein, I'm watching forms and contracts and LOIs get filled out that Our suspect at best, if we're ever being filled out, and I talked to... Cooper about a few of y'all others about sitting in here one afternoon and just kind of walking through each one of the forms and make sure you understand.
It's the YCO, the YCO, the oat repeatedly every single time is the least form of which is a Not the greatest document in the world, but it works. But you gotta know how to fill out certain things. So we're gonna get together and what I'll do is decide who all wants to be in here and then I'll figure out the ones that don't want to be here, who should be in here, because I see them making constant errors and then make them come and then we'll print off all the forms, we'll put them in a binder and you guys can make notes as we talk through each one of the forms on the screen.
But yeah, I mean, this is all important. While we're on education, if you completed all your Classwork. Have you renewed your license? No. Takes five minutes.
Hello, Bryce. Have you completed your... I'm doing South Carolina TV right now. I'm doing the CRCPR for North Carolina next month. A couple weeks. Next month? Yeah, it's like June. 12 or the second?
I just renewed yesterday. Okay, good. Kevin? Didn't you see you need to renew your old food right now?
Yeah, literally going on to the NC Real Estate Commission website in just a couple of minutes and you print out your pocket card and give it to Olivia. Dan?
Well, I've got to take the broker in charge from now, so I've got to figure out where I'm going to find that. Get that done, but I'm broken in charge for this office, for South Carolina and the mobile care line, so. Did you not get exempted? There you have to take 12 hours. You have to take 12 hours, and I'm exempt from taking everything but the core class. But if you're a broker in charge, you don't get exempt from the broker in charge class. So I have to take the core and the broker in charge class.
I've taken the core class, and now I just need to take the broker in charge class. Thank you. So it's still a gotcha, man. I could be done, but were it not for me being broken in charge for something along the lines of this. I just assume paying the money.
And now I have to sit through it. And the self-paced thing doesn't appeal to me. It's terrible. Because I can get through the course in like an hour and a half, but it puts a time on it and you have to be on it for four hours to get the four-hour credit. or won't give you the certificate, so...
And I would tell you, man, you know, again, I've taken three CDs in the last four months and the CRCBR. commercial Training is so far superior than anything else I've taken. And if y'all are going to Superior School of Real Estate to listen to that, Bill whatever his name is. Bill Gallagher?
Bill Gallagher.
You're wasting your four hours. I mean, if you're going to pay the money and spend the time, go get some education out of it. I thought they were both, both of the CRC Bureau classes, I thought were great. And it's also to add benefit sitting in a room with a whole bunch of people. Hell, you and I sat in one class, I swear to God there must have been 300 years of experience sitting in that classroom.
I'm assuming Since Cooper's been hanging around here for a week, y'all all met Cooper? Cooper joins us, I don't know what all he told you, but Cooper joins us. switch firms, Felt like the culture here was a better fit. So anyway, he left Stream and has come here. We have another broker starting on Tuesday after Memorial Day. Sandy Jackson will be here. Sammy's going to be, Cooper's focused solely on brokerage and industrial and working with Bryce on some retail opportunities, just trying to understand a little bit more about all areas of the business. And Sammy's going to be focused on more relationship driven stuff.
He's bringing some relationships and then I have some stuff. He's going to be doing as much consulting as he is brokerage. Because of his background, we're working on some projects that will be large consulting fee generators. So he'll be here and then we are continuing to have have some good ongoing dialogue with a person who will If we can get it all work out, we'll start with us at the end of the summer.
Be brought in for the first three or four months in training with Kathy, but ultimately will become the head of commercial property management. which we are spinning off that group out of the parent company at January 1st and created a freestanding entity like Metro Realty Charlotte or Metro Realty Gaston. That's a realty PR management. With the objective of doubling the size of our managed portfolio in the next three years.
And we think it's a very attainable goal, but this guy's coming from another big shop and hopefully we're going to be bringing some property with him. Kathy is not going anywhere, but she really does not want to run the company. And I think using her more as owner relations, business development and technical stuff would be better for her and for the company. So this gentleman. Certainly has the skill set to come in here and meet our goals and objectives.
We'll see, I'm trying to think what else company related Oh, and everybody's met Katie, who's joining us for the summer. Katie, you're here till when?
Like the end of July.
So she's here. Katie's kind of bouncing around. When Nikki gets back from her overextended vacation, she'll be back in office Tuesday morning. Katie will be doing a little bit of work with Nikki and is also backstopping Olivia. Basically just trying to learn the business. I go way back with Katie's dad and grandparents who I have helped buy and sell real estate over the last 10 years. you And Katie's, are you rising senior?
Junior. Junior at NC State. and trying to feel her way out of what she might want to do for a career. She asked me yesterday, she went to the sales meeting in Gaston and met some of those folks. But if y'all have a need or something you need Katie to help with and she's got some capacity, ask her to do it. She is interested in learning about commercial brokerage as well as management and the other functions of our company.
I sent you an email yesterday, I don't know if you had time to see it, it was in the afternoon I think, about ZoomInfo. I reached out to them just to have an idea of what they provide as a service because Wendy shared about it to get data on potential clients. I thought it was very, very interesting, at least worth maybe a quick call that you could have.
You get into the quick call, I can care less. I mean, if that's a tool that you feel like you need or some of the other brokers need and y'all have a you10, 20 credits, you mean like 10, 20 people?
That might be a good starting point too to see how much value is in it. I'm not trying to discourage you from doing it or not doing it, I'm just saying it's a big investment and we're gonna make this investment. I'm all ears and I'm willing to put some dollars to it. I'm not going to do it alone in hopes that...
I want 50 names, contacts, emails, company size, and it gives you like in 10 seconds and you have like all their contacts and there's your call list.
So I was just thinking this could be interesting but definitely yeah it's a big cost I think it was like if someone was taking it on their own it's like 1500 a month so super expensive and as a company they're like well and that's for like three licenses sorry three licenses and then if it's more like if it's uh I told them what we're like uh 17 18 brokers and all of my guys I don't know what the cost would be for that and that's where he's like yeah two to three thousand but I see that something that doesn't need to be A permanent, not like a CRM that you keep forever.
I see it more as a temporary I don't know, maybe once for like a few months and then just getting it. Well, if anyone wants to know more about it, feel free to reach out. I'm happy to.
Yeah, one of the things that's occurred after you guys going through training is that if you gotta make $100 a week, you got a lot of names to come up with. Yeah. And so--That's why I'm thinking of it. That leads me to Eric Clay and I have aI had a call with Wendy yesterday for about a half hour, which is typical because every month Wendy wants to catch up and just kind of give us some feedback and so forth.
I talked to a couple of y'all yesterday. I'll be interested to see what Thursday's call looks like because I told her yesterday, I asked her, Eric and I just kind of point blank. I said, look, if the last month and a half is just spending an hour berating our people about making enough calls or not making enough calls. We're probably good. But if you've got some new information, techniques and education that you can train these guys on, then... All four.
I just-I think I guess my point is this. If you all extracted all the benefit I've heard that we're gonna get, then why prolong this for another month and a half? But she's got some new stuff. And so we'll find out tomorrow. Thursday, but she got very defensive andI know she beats on y'all pretty good, but I beat on her real good. And she, I actually beat her after. Her purple hair got all standing up on her head.
But I just told her, I said, "Listen, I mean, I said this is a personality contest. I said we didn't hire you to make friends with all our brokers. We hired you to train these people and make them do what they're supposed to be doing and teach them the skills that they need to be able to call effectively a cold call and round up a good business development. So far, I feel like we have instilled in these, especially the younger people, this need for each week to come up with calls and keep a spreadsheet and track what you're doing. But again, I need to know that there's more confidenceI'm coming.
That's in the way, based on doing Should also be Is that Venture's Senior Care Center?
Is that your deal? Yeah, at least it's signed with the 10-2 amendment, finalized the square footage, and then the first payment commission is in it.
Coming up... Connor, South College Street. Yes. A new fitness, I know a way from second to end there. 2108 South Boulevard, Kraftwerk. I don't know. Please wait and send until we, We got paid today, but... -Okay. Packard, Rackham, Ruthie. That's Jim. Uh... A little beaver. Yeah, we've been working on the recognition. 15. South Kirk Street.
All right, we'll get an update there and find out what's up. See? Looks like Habitat's got a couple of things closing in July.
I've got a, well they're adjacent properties. We have got a call at 11 o'clock to set up closing day. Okay.
Light view, did y'all get that straightened out? What is the new price now? I got $4,575. That's it. What's that? What is the composition here?
Contegra, Bryce, I saw yourLeast comment, I saw you found a couple of things.
How about QT and the QT deal in Lake Wiley?
I've sent him the same thing. I've sent all the brokers every week and he responds every week. Who?
They have theirs in September. And they're quite sure in September, but Ross says it's good for all students. You could promise. Okay.
So Mercy, ABC, and Five Guys. Yeah, Five Guys is, I've heard from a program like Amon, and I heard from somebody else that they're suspending all new schools right now. Five Guys is? Did they sign a lease?
No, we were going back and forth on that a lot. Really? Yeah, just take it off. I don't think it's on here.
John get that work down in part about access for survey and all that. Not yet, I told them get Riley done first.
How about, Kingdom Builders. Uh, Waiting this week to hear back on the right approach refusal and even the process. Decided to not spend any more money on good dealing than a survey in phase one until we got that stuff squared away. Fred talked to them last Tuesday or Wednesday. I left the post office. I was gonna call my list of call today and see where things are. What are you talking about? Just ensuring that there is.
Well, it's like you're about to get into a lawsuit because you all signed our contract saying that you went through the right of first refusal process and the. Tenant wasn't going to buy the property, but yet you met with the tenant two weeks after you signed the contract. You asked them if you wanted to do the right of first refusal. Right.
So on that, I was thinking this is weird, but like, you know, they got the Sale day is probably like September or August at the courthouse. If they muddied the waters with this, All that's going to do is drag this out.
Why does that have $57,000 referral fee? That's what I gave you. Is that a topless? No, there is no referral. I sent this to him last week. Huh? Alright, I'll call the gym. Um, let's see, uh... Senior care. All right, what else did I, anything on the pending that I didn't mention? This would be Allison. Yeah, that was on there. Anybody else?
Now, go. All right, Brian, did you get Gene on the contract down here? We've got the contract. And so hopefully we'll get it signed. How long will we time this out?
60 days total. 60 minutes to close. Yeah.
I know you're working on trying to get that deal. That's a $6 million deal, isn't it? Yeah. And contracts. The email is working on it. Yeah. They're pushing aside today 'cause they're up against the-OhWe just have to get it under contract and get to work on everything else. Okay. Any other? How about South John Street? That's just kind of sitting there for the moment. Got it. Got that listed. Signed yesterday.
Kevin and I were working on a new flyer, so we'll be taking...
I had a call with my franchisee last week. Says he wants to open a new store every 18 months for the foreseeable future and needs to get some deals in the pipe. So I'm looking hard for stuff for him.
He's killing it. He's got like 15 stores and wants a bunch more, so. Good for them, man. They used to be selling fried chicken in the South. Yeah. They lived there all the time. South to South.
Still looking for a daycare site for the spring daycare. Another extreme franchisee that's looking for a site in Mooresville area or ideally an existing building.
Yeah, Hines Liles and... Um... Davis. So Gant knows Piedmont beverage company is the spin-off.
So Ross, again, introduced him to Ross. Ross, I don't know if he's doing deals with them or not doing them. I think he's done one or two. I don't know. It's hard to say.
Yeah, I mean, I texted, communicated with them last week. They're... They're still running and gunning.
Oh yeah, but they've opened it up to all roomers. They don't have a room for them. Yeah, seven rooms is free for all.
No, this is the development. Of course I have a room. They're supposed to, I think it was like 150.
Instead of going to corporate, go to these people who are the developers who have a franchise license with Sevenbrew and they will build the site and move into an operator. Got it, let's go. Yeah, I asked the corporate original. I've never had a cup of seven brew coffee in my life. I mean, is it good? Yes.
Got a new listing, lease on Warrior, 2230 Warrior.
5,000 square foot. I saw that sign yesterday. Morgan pointed it out to me on the way to the airport. Oh, they got it up. Awesome.
So yeah, it's 5,000 square foot building.
3750 warehouse, 1250. It's almost Warner, Boyer, Wilkinson. Yeah. It was the electrical company. You sold the land to them, didn't you? And then they built two metal buildings. Yep. And one of the buildings is released.
It's got an extra lot so there's some additional land for parking. Some money will be laid into the airport, hopefully not rental car. Very likely, or might be. So. We're asking $10,000 a month.
10,000 a month, 120 a year, about $5,000. So we're at 25,000. But it's not that extra lot. So it's fully conditioned inside?
Yes. It's a brand new building. It's already been around for five years. Is it all office or is it some warehouse? No, there's 3750 warehouse. So you can... I mean, it's like 18 clear. Large drive-in door. Do you remember the style of the drive-in door?
It was, I think it was, no, no, no, no, I think it was 16 by 16. 16 by, yeah. 20 cleat. It was a huge run of the door. So... Is it IRS or is it just part of the union? It is iOS. So it's industrial outdoor storage.
Yeah, but the airport's got the wind beside it. -Boom. So that creates a machine, but yeah. I see it being a big airport type of tenant. Let me know if anybody has any interest. And then also... Um... Working on a deal. with the paper on the cookware. Oh really? Leased out.
Snell Strip Club operator. Uh, yeah.
How's the double turfing going? Any prospects?
I'm going to share one tomorrow. We brought the price down.
It's at three six. What was it? One.
I got good Good stuff, honestly. The last two weeks were really busy with a painting company, Rose Painting. They're across several states. Across the US actually, they're looking for a space here. The manager would potentially also buy it. So if you guys got two to three acres of iOS with two or three thousand square feet of office, you'd be happy with that. Working on a On a deal, the owner doesn't want to list.
He received an offer, but he's considering others on a Off of all Concorde, Road. In our road, not far from there, and that rose painting guy might be a perfect buyer. So that's like the one We'll see where he's landing, but he's looking for 2.2 million. I think it's like... Reasonable, but not far from where the price should probably be. Um... S&E flooring, we got an LOI signed, we're finalizing the lease agreement, everything seems to be okay. So just waiting for the document from the landlord and should be good.
That's like $800,000. Nice. Yeah. Uh... Pinnacle Services, I should have a call today with them. They are meeting, they're looking for the 29,000 square foot space in Westinghouse Boulevard is what they're looking at. They seem to be really interested in that one. And if we get that one, then they might also list one of the two owners of the business has another property that he's operating out of right now. It's like 3000 square feet on one acre. So small listing potentially at Felice.
That's the... Well, one of them looking at one of the client CLT machine looking for 10 pounds per feet in Westinghouse Boulevard as well.
Thomas, my lights. Working on our listing, everyone, Park South and Bill, got two new fit studies from Seaman Whiteside, which I think makes it a little bit more viable, one with 119 units, one with 157, I think. 137. 117 and 137. Yeah, yeah. Samuel Street's another listing I've got. Working with With the guys over at Boundary Street, the church is adjacent to it. We can get that together. We have like 100 plus unit townhome development projects.
I think that would be a little bit more viable. Mount Holly deal on Charlotte Avenue. Economic Development called me from Mount Holly and said Publix is looking for the in the area. So I had Publix, I had a lot of Seaman Whiteside lay a box on the property and I'd rifle that over to Publix. Their guy over there, things we're working on.
When you say you took it to Publix, you take it to Publix corporate or did you take it to one of the Publix developers?
I took it to Publix corporate. Next I'll probably get a Morgan Companies or somebody like that. If they wanna... I mean, but they'll work with a local developer on it. Just trying to get interest.
Working on Dorman with Elmington Capital trying to get that contract signed. I've been working on that one for a little bit. Still navigating the Novant site at South Park with Trammell Crow. Northwood on McKee Road, the church responded back, they need six months. I saw that one. They've got to. a bureaucracy that they've got to navigate through with the congregation and Everybody. So I mean, it's just gonna take them a minute. to do that.
I don't see that anybody is going to Beat out our offer and Yeah, I mean well, I mean I know it's just six months seem to be terribly long and they've already been sitting on it for over a month Well, they have but they probably realize that hey we've got a good shot at getting this money so what are we going to do with it in the best case scenario? Time and fashion, let's figure that out.
No, with Trammell Crow. Last I knew they were reaching out to Caldwell directly. Who was it? Like I have with Trey McCrory. Why? See if we could get some further communication from Coldwell.
Well, they wanted 200 bucks a foot and we offered them 178 a foot. There's no 200 a foot comps over there, not even stuff that's under contract. So I mean, I think we're at the high mark of of everything there. I think again it's just a slow moving ship with with no vaunt until it isn't.
We finally after. months of The same request on day one. Six months later, Sam frustrated, finally sent it to me. So that's all I needed was the sweet square footage that they could underwrite the deal. and understand the tenant's needs and things like that. So I sent that over to her Friday. So I told him we needed to get on the stick with it, with that RFP out there. It's kind of in the limelight, it needs to be.
They received 18 proposals. from service providers for the RFP. I talked to the planning director, she called me, And verbally gave me all 18 of them names and asked me to tell her what my top Great opportunity to sit down and talk. We confidentially had that conversation and Talk through some of the rationale and reasons why. Probably four of them called me directly asking me if I had any influence on their decision.
Oh yeah. We under contract are all the while with the Dixons.
We submitted an LOI. Ralph gave us his number back.
Weioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioioio Agreed to the number, met with Ralph.
So the answer is we don't have anything behind me with them right now. Nothing. 'Cause my worry is, it's not a big worry, but Portman Holdings is hungry to get into Balamano and do a big mixed use project. I'm just worried that theAlthough this RFP thing goes, we need to get the Dixons tied up somehow so that they don't haveGet a call tonight that says, "Hey, we wanna do your project, what we wanna do Another 50 acres or 100 acres with it. I don't think that would happen, but just getting something buttoned up would be good.
So there's another interesting, So I have reason to be in discussions with the Bell& Abbey folks. Mm-hmm. And There is a, they control a pretty good piece of land walking distance to the abbey. That they have been telling me for five years their plans to do student housing there and I said what's the hold up? And they're like, well, we just nothing really. They need to do the house in there. there's an opportunity to do a student housing project there so i'm going to have some more conversation with them this week or next week and i'll let you know but i started thinking about the student housing group you're working with but if there was a way for me to insert you into that Sure.
Have them take a look at it and see if it's something that has merit. If it does, then get the ball rolling over there.
All my time on speed span on Parkside off for the next two or three weeks because we got to show some results forI agree. I don't think storage exchange is going to renew their lease.
I had to finish up this good old damn machine challenge before it was better than the one on my side. The story now is the purchase and to a lease and now it's drawn to the tiniest industrial deal in the history. but I'm just gonna concentrate on parts out for the, yeah.
And we'll get called up next week on Tuesday, Wednesday, Thursday. processing. So. What else? Anything else you all can think of?