Hey everyone, welcome back to my blog!
Last week, I started on my final project, and this week has more or less been a continuation of that. I finalized a neighborhood description, which actually took me several hours. Neighborhood descriptions are more or less a one-stop shop for everything about a surrounding area: market conditions, nearby developments (residential and retail in this case), municipal plans for expansion, and other things that may or may not be important. For example, in the case of the retail center that I'm working on, I had to mention housing developments within a five mile radius, population demographics (as in, how many people live in the area and how much they make in a year), Queen Creek's Economic Development Strategic Plan, and the impact of having the ASU polytechnic campus and the Phoenix-Mesa Gateway airport nearby. Surprisingly (or I guess as is normal by now) there seem to be lots of factors in determining the value of a property, including its surroundings.
Other than that, I finished creating maps and aerials, which is not as exciting as it sounds. I don't get to fly a drone over the subject property (although I will definitely be suggesting that to Churchill), but I instead have to look at the Maricopa County Assessor's Website and get my aerials from there. I think it's ironic that I've visited that website hundreds of times by now but I still don't know his name.
This deal seems like it will also be put off for a later date, as we do not have access to sales numbers for Staples and Petco, the other two major retailers in the shopping center, and therefore, we do not know if they have an incentive to renew their loans after they expire in a year and a half or so, regardless of whether or not Walmart chooses to stay. However, I will most likely continue to do the market research for this deal, as Churchill is doing another refinance for a different shopping center in Queen Creek, and the information I gather will be useful anyway.
I've been on a Dutch Bros cleanse for a couple weeks now and it's not going well, to say the least. I don't drink coffee daily anymore, which has led to me being overall more sleepy and a little cranky, if I'm being honest. I would not recommend going about this the way I am. Note to self (and to all of my wonderful readers): coffee is not something that you should drink a lot of and then none at all. See you next week!
Last week, I started on my final project, and this week has more or less been a continuation of that. I finalized a neighborhood description, which actually took me several hours. Neighborhood descriptions are more or less a one-stop shop for everything about a surrounding area: market conditions, nearby developments (residential and retail in this case), municipal plans for expansion, and other things that may or may not be important. For example, in the case of the retail center that I'm working on, I had to mention housing developments within a five mile radius, population demographics (as in, how many people live in the area and how much they make in a year), Queen Creek's Economic Development Strategic Plan, and the impact of having the ASU polytechnic campus and the Phoenix-Mesa Gateway airport nearby. Surprisingly (or I guess as is normal by now) there seem to be lots of factors in determining the value of a property, including its surroundings.
Other than that, I finished creating maps and aerials, which is not as exciting as it sounds. I don't get to fly a drone over the subject property (although I will definitely be suggesting that to Churchill), but I instead have to look at the Maricopa County Assessor's Website and get my aerials from there. I think it's ironic that I've visited that website hundreds of times by now but I still don't know his name.
This deal seems like it will also be put off for a later date, as we do not have access to sales numbers for Staples and Petco, the other two major retailers in the shopping center, and therefore, we do not know if they have an incentive to renew their loans after they expire in a year and a half or so, regardless of whether or not Walmart chooses to stay. However, I will most likely continue to do the market research for this deal, as Churchill is doing another refinance for a different shopping center in Queen Creek, and the information I gather will be useful anyway.
I've been on a Dutch Bros cleanse for a couple weeks now and it's not going well, to say the least. I don't drink coffee daily anymore, which has led to me being overall more sleepy and a little cranky, if I'm being honest. I would not recommend going about this the way I am. Note to self (and to all of my wonderful readers): coffee is not something that you should drink a lot of and then none at all. See you next week!
Hey Tanmyaa! Thanks for the insight on coffee (though I don't really drink coffee that much, I will definitely make a note to self)! I'm excited to hear about the progress of your final product. Best of luck. :-)
ReplyDeleteHi Tanmyaa!
ReplyDeleteFlying a drone sounds way more fun than visiting a website over and over again. What exactly is Queen Creek's Economic Development Plan? Do they call is QCEDP? That sounds like a bad acronym. See you next week!
Kenneth
Hi Tanmyaa!
ReplyDeleteGreat post! How do you acquire the length of the leases by places such as Petco and Walmart? You must feel special to know the city plan! How do you get that information and how far out is the plan? Keep up the good work!
Jakob Krygier
Hi Tanmyaa! It sucks that you aren't able to access the sales numbers for Petco and Staples; what is the process in acquiring these types of data? Also, in your opinion, what kind of surroundings around a property would be most influential in raising its value; public parks, airports, plazas?
ReplyDeleteThanks again for this week.
Hello Tanmyaa how are you? I was just wondering what are the actual plans of the Queen Creek's Economic Development Plans and what could this lead to?
ReplyDeleteHi Tanmyaa!
ReplyDeleteGlad to hear that you have gotten a lot done this past week! If you don't mind me asking- Why can't you access the sales number for Staples and Petco?
Good luck with your last two weeks!
Best,
Gabby W.
Hi Tanmyaa! Great post this week! How would you be able to reach the sales numbers for Petco and Staples? Glad to hear you finished the neighborhood description, sounds like a lot of work. Thanks and good luck!
ReplyDeleteHey Tanmyaa! Great job this week. Nice to see how everything is finally wrapping up. How big of an impact do surrounding have on the price of property? Good luck on finishing your project!
ReplyDeleteHi Tanmyaa! It's nice to hear everything is coming together. My question is how much does the surrounding affect the value of a property? So for your example of retail center, how important is the neighborhood description and the surroundings on determining the value of the place? Can't wait for your next post!
ReplyDeleteHey Tanmyaa! I'm really appreciating the harwork that your putting in intp your projects. And thanks for your advice on coffee. How long did it take you to make those maps?--Ismail Hamed 10
ReplyDeleteExcellent work! Do you know what your final product will be for the SRP presentation?
ReplyDeleteGreat work you're doing! The representative I am shadowing is also a commercial real estate agent also! Suggestion: try drinking more tea instead.
ReplyDelete