Wednesday, January 23, 2008

What The Fed Rate Cut Means in $$$$

The Fed cut the rate 3/4% yesterday and are expected to cut another 1/2% at the end of the month. What does that mean in dollars and cents?

If you were to purchase my Kings Mountain Property, all three pieces in a bundle, with a downpayment and a mortgage for $250,000.00 assuming you got a prime rate loan amortizing over 20 years then:

Last Week Prime was 7-1/4% and each $10,000.00 borrowed was $79.04 times 25 = $1,976.00
This Week Prime is 6-1/2% and each $10,000.00 borrowed is $74.56 times 25 = $1,864.00
Expected Prime is 6% and each $10,000.00 borrowed is $71.65 times 25 = $1,791.25

A monthly savings of as much as $184.75. Smart investors are looking for bargains now and they will profit on the rebound.

Tuesday, January 15, 2008

Just Listed Retail Rental Units Franklin Square Area

My friend Mike Lakhany, who is redeveloping the Old Harris Pool Building, has two retail commercial units under 2,000 sq ft available in the Franklin Square Area across from the movies. His rates include all utilties as well as CAMARA. The current tenant is the Jeans Outlet.

Call me now or call Mike 704-674-6596 and say you saw it here.

I hope to have pictures tomorrow.

Monday, January 14, 2008

Funding Questions For City And Then Atta Boy!

I am neither pro nor con at this point on new plans for Downtown but as the Council explores Plans for Downtown Development please pay particular attention to the funding. There have been bold pronouncements declaring redevelopment of downtown can be accomplished without a tax increase for funding. The word property is missing in front of tax .

First case in point is electric rates are proposed to rise 7%. Does not the City of Gastonia take money from the Electric Fund and transfer it to the General Fund? So do the Electric Operations require funds or is it the General Fund? Is this raising money for downtown redevelopment costs?

Second case in point is the proposed recreation impact fee on new houses. Gazette article reports the costs of $25 million dollars total and $20 million dollars alone in the booming South area of Gastonia.These costs just covered the housing already approved. I believe a cost of providing this recreation was given as far less than $1,000.00 per home. Math says $25,000,000.00 divided by $1,000.00 for easy math is 25,000 new approved homes? Latest permit data shows average new home in Gastonia is about $163,000.00. At the current City of Gastonia Property Tax Rate of $0.53 per mil City Revenue on 25,000 new average homes would be $21,597,500.00 every year from which no recreation funds can be found? New revenue source for recreation frees money in the General Fund for other projects such as downtown?

There are multiple ways for a City government to raise money other than property tax but every one of those ways still rests squarely on the backs of the citizens. There is no free ride and this must be part of the Downtown Redevelopment Debate.

Good Job Michelle! The City of Gastonia through the work of Michelle Nance gave a seminar this past Friday on the Rehab Code. The Rehab Code is a powerful tool in working with existing buildings for repair, change of use and renovation. Property Owners would be smart to hire contractors and architects who learn to use this tool! Plus by sponsoring the work shop the City has signalled their approval and promotion of this tools use. Gaston County Code Officals were also attending so I have to think they see the potential in this tool as well.

Friday, January 11, 2008

Gaston County Commercial Listings of Importance


SALE -Approximately One Acre Lot - In Front of Howell Funeral Home. Lot is part of PUD which includes Funeral Home. Lot is level. Storm Water/Sewer/Water/Paving/ Sidewalk/Entry all currently in place. Zoning allows 51% office and 49% retail. Ready to Build.

SALE - Cleveland County Parcel #8851, Floyd St., approximately 2.79 acres of land zoned Industrial, Water/Sewer $55,000

SALE - Cleveland County Parcel #13431, Kiser St., 5,000 sf metal building on approximately 1 acre. Water/Sewer, $150,000

SALE - Cleveland County Parcel #71216, Cline St., has 2 buildings, 1 = 1,650 sf, 1= 4,560 sf, both on approximately 1 acre. Water/Sewer for $145,000

PRE-LEASE UNITS - 4459 Posterity Court. approximately 2.34 acres Zoned C-3 includes County Soil and Erosion Control Approved Plans and City of Gastonia Engineering and Zoning Permits.

SALE - South New Hope Rd. almost to new Food Lion at Beatty Rd. (across from Car Wash) Lot of approximately 1.45 acres with C-3 Zoning. Call or Email for Details.

SALE - Exit 22 I-85 @ Lowell - over 8 acres total. Master Plan shows C-Store Site, Hotel Site, (2) Restaurant Sites and Flex Site for Hotel/Restaurant. More details at

SALE - Exit 22 I-85 Lowell - Northeast Corner of Interchange-2 Lots Available Call or Email for Site Sketches for potential uses.

SALE - 820 South Main St. Lowell (Exit 22 I-85) 8,000 SF Metal Building and approximately 1 acre lot.

No Units Currently Available For Lease in 2T Park

All Listings are by Owner/Broker or Broker

Tuesday, January 8, 2008

What Are You Talking About

I was in the store yesterday looking to buy cranberry juice. So I go right to Ocean Spray the "name" brand. Thinking healthy I pick-up the 100% juice type. Now here is my latest health rant, I'm really watching hi fructose corn syrup consumption. I was in Mexico in December and a Coke made with cane sugar is like the Cokes I remember. Flying back I got a US Coke on the plane, with hi fructose corn sugar, and it didn't taste right, or good. Back to the cranberry juice, listed in the ingredients was hi fructose corn syrup. I mean in the 100% juice from Ocean Spray.

Now your thinking he is blogging just to blog and this can never have to do with real estate, construction or development but it does. Everybody has become conditioned to lowest price or lowest bid. Few people use the old formula of Value= (Price & Quality) and far too many use Value= Lowest Price. Well just like juice and soft drinks nothing in real estate, development or construction cannot be cheapened by how its made or what its made with. Low bidder is usually the guy who sees the least in a job.

This is why I have spent a career not seeking to be the low bidder but in providing more "bang" for the dollar. I want my clients to say, " I got more for my project dollars with him than I could have any where else".

Monday, January 7, 2008

Exit 22 Lowell - Why Look Here

Exit 22 Lowell Property has often been described in this Blog and in web pages. Here are some benefits you might not have thought about.

  1. Progressive Local Government in Lowell Town Council

  2. Duke Power Electricity Service and Rates

  3. Lowell Property Tax Rates

  4. Public Service Natural Gas Rates and Service

  5. Lowell Water and Sewer Rates

  6. Lowell has Liquor By The Drink Approved for Restaurants and Hotels

These are benefits now and for in the future. Call to find out more.

Friday, January 4, 2008

Starting 2008 Right

We have made the decision to move ahead on developing the 16,500 sq ft of flex space on the last lot in 2 T Park (4459 Posterity Court). This Building will have two 3,000 sq ft wing units. Each wing capable of being divided into 1,500 sq ft units. The main building will have 10,500 sq ft available in multiples of 25' widths by 70' of depth. Each multiple of 25' width is 1,750 sq ft (25 wide x 70 deep). Lease rates based on up fit costs to fit your requirements.

The building we did last year was pre-leased before construction. Do not hesitate to call now about space.

Thursday, January 3, 2008

Jan 2nd or Jan 3rd

I had intended to come in on Jan 2nd ready to charge into 2008. Well 2007 held on for another day and the second turned into a clean-up day. Today is the Third and now with a newly organized desk and office I am ready to tackle 2008.

Having watch a lot of TV, football bowl games, during the Holidays I have a beef with some of the selective advertising by some metal building companies. They select all the positives of metal construction and tell you in a Wal-Mart style you can do even better by using a national company. Basicly the pitch is buy the package from us and save, save, save because there really isn't much else to a building project. People buy it because it is what they want to believe.

The reality is the package might be a large dollar item in the Scope of Work but the time it takes to order the building is small. Note I did not say design the building because designing the building involves interaction with local codes.

When you are ready to build think about the following: compliance with local zoning codes, site layout per local zoning codes, approval of storm water management plans to meet local ordinances, design and approval of local soil and erosion plans and now you think about designing a building but not just the metal package. Plans must be drawn for foundations, ingress and egress (doors and windows), fire protection (walls, smoke partitions, sprinklers), energy codes for HVAC and insulation, electrical plans, plumbing plans and up fit floor plans.

Why do you think the largest metal building manufacturing companies in the world use a network of local builders? Construction is a business that requires local knowledge and local presence. In the end the local Contractor has knowledge and experience to save you time and money far beyond the one time savings of a nationally marketed building package.