Mack Johnson, a sales representative in our office completed a successful commercial real estate transaction yesterday. He represented the ownership entity in the sale and closing of Settler's Retail Center in Taylorsville. A significant deal for our teamand Mack. Way go to bro - Very proud of your diligence, persistence, and integrity. Keep it going!
Books I'm Reading
Alton Webb & Associates
September 01, 2009
July 22, 2009
Good work Happenin'
Yesterday our team helped host a "business after hours" for the cancer care provider in our community - Louisville Oncology -Norton Healthcare. Great turnout and lots of friends & business folks stopping by to support the good work happening. Was most touched by the conversation I had with a cancer survivor who was told that he wouldn't make it, but in fact is doing quite well now. He's lost his hair, but not his heart. It was very inspiring to see him step into public & share with others. Most of all, his story & affirmation of answered prayers was powerful. How brave is that?
July 07, 2009
Mid 2009 Commercial Real Estate Update
The first six months of 2009 were challenging. Banks & credit tightened, Buyers had less confidence, & risk tolerance was completely absent.
Now, we see some signs of recovery. Our team sold a downtown building last week, leased a small shop space this week, hope to finalize a retail center deal, finishing up a warehouse distribution lease, and negotiating a fairly significant industrial building deal among other activities. Our hope is to keep working in a creative matter & assemble some transactions this summer & into the fall.
With Sellers & Landlords continuing to recognize marketplace status, we feel things will keep turning. If interest rates increase to offset a rising concern of inflation, it will only make the environment close to impossible. Meanwhile, the opportunity is great for investors, buyers, & tenants. Let's make a deal!
June 15, 2009
Anti Food Court
Recently stopped in at a regional mall's food court. These things can be a disaster & it was...the worst meal ever. On prior trips, I remember a diverse selection & hot food. The original operators are gone & new franchisees make the most of what they have. The birds are flying around in the ceiling and it seems the only reasonable choice is the Asian Buffett for $4.99. (At least they let you try before you buy!)
The 2nd floor food court used to be a fun trip up the escalator. No longer. Real estate is always changing. Especially retail. Timing and trends are important. Today, restaurants can have a sole location, with better environments, more visibility, & offer higher quality. In the food court you never know when you might get hit by a random bird, sit @ a dirty table, or be able to locate a child seat. Count me out for the courts of food.
June 10, 2009
The Winds of Change?
Things in the office are better this week. Could this be a sign that it's turning? Let's hope so. I think the real change is in Sellers/Landlords. They are becoming more realistic & understand the market is tough. If an offer is reasonable - The time is now to make a deal.
It's a nice change, for the past few years, Buyers have had absolutely no leverage in negotiation. The issue may now be, they have too much. Hmm, It seems in the real estate business you have tons of supply with little demand or loads of demand and no supply. All about positioning & timing.
It's going to take sales folks working hard & people taking risk to get us out of this mess. Keep going!
May 18, 2009
Mack @ ICSC
One of our team members, Mack Johnson is out in Vegas at the ISCS Convention. Over 2 million sf of exhibitors! He's drumming up commercial/retail business and trying to further the cause of our clients & economic development in KY. This year the attendance is down by half, but still over 25,000. Being a contrary thinker, I'm in agreement with Mack - It's a good time be there! On behalf of Alton Webb & Associates, thanks for your hard work & dedication.
April 06, 2009
Office View
Here at the office on a rainy Monday. It helps that I have a window, even if it's not the nicest day. When we first started our company, I was in the basement of Dad's house around the back/dark corner. No view. Not the best environment to make cold calls & dream. But, I have no excuse now!
Attached is my current view from the first floor of our office building. Yall can see that the window can be raised for a breeze. My view also permits an advance warning when solicitors drop in unannounced, warm sunshine, or a quick chat with a friend walking by. How bout yours?
December 08, 2008
Positive News!
I'm pleased to announce that our team had two closings today!
First, we assisted a client purchase a retail investment property in Simpsonville, KY (pictured). FYI - Great opportunity is available in this economy.
Secondly, we helped a group of doctors locate a professional lot to construct a new medical practice building. FYI - Banks are still lending money at good & competitive rates.
Be encouraged, stay positive, & turn off the news - Praise God, things are happenin!
November 26, 2008
Thankful Cleaning
Today our team went to the local pregnancy resource center to help do a little cleaning & encouraging to the good folks there. Not much assistance was needed, that place was spic & span already. We probably spent a couple of hours vacuuming, mopping, dusting, folding donated clothes etc.
It didn't seem like a big deal to us. But, after we prayed together at the end, it was obvious that Jan (the ex. director) was very appreciative. We were all moved by the depth of her faith & the burden she has for the unborn.
What a remarkable place of ministering to others in the name of Christ - Not just in words, but by deeds - now that's church. I am especially thankful to celebrate Walker's first Thanksgiving & his life this year - It made the trip even more special to know that gracious souls like these are moving to love, care, & help others make the right choice.
Jan is quick to say, "Everyday is literally a walk of faith." May God Bless & keep the ALC Pregnancy Resource Center!
To learn more watch this.
November 03, 2008
Alton, KY
Drove through one of my "favorite named" small towns today - Alton, KY. This little community is locatedin central Kentucky & is complete with a baptist church, landscape nursery, car repair shop, & caution light...Since I'm in commercial real estate, I can tell you that most all business locations double as the owner's residence. I love small towns in the south - especially with cool names :)
