Michael Jeppesen selected as National Chair for SIOR Independent Brokerage Group (IBG)

May 4, 2013

Palm Springs, California.

The Society of Industrial and Office Realtors recently held their annual spring world conference at the Indian Wells Resort in Palm Desert, California.  At the conference Michael Jeppesen, President of IPG Commercial Real Estate in Salt Lake City, Utah was chosen as the new national chairperson for the Independent Brokerage Group (IBG) within the 2800 member international organization.

The purpose of the Independent Brokerage Group is to create and sustain a network of highly qualified, independent SIOR brokers across the world to collaborate, share information and enhance business opportunities for its members.

The committee tasked with overseeing IBG works diligently to raise the overall value proposition for SIOR members through being a resource and developing an environment where best practices, ideas, and top industry trends are shared. Mr. Jeppesen currently serves as Vice Chair for IBG and will officially step into his new role as Chair at the 2013 World Fall Conference of SIOR in Chicago

Attractive SBA Financing for Commercial Real Estate in Utah

Many companies in Utah that are thinking about owning their own building rather than leasing are finding Small Business Administration (SBA) financing very attractive. There are many factors to consider but often the after tax benefit from owning can make it more attractive than renting. There are several different loan programs through the SBA but companies looking for a loan involving real estate will likely do a 7a or 504 loan. Typically a buyer will be required to come up with a 10% down payment, the SBA loan will be for 40%, and a bank or other lending institution will provide 50%. For more information on the other types of SBA loans available check out the SBA’s website at http://www.sba.gov/loanprograms or give us a call and we can put you in touch with some local professionals. 

SIOR Designation

Good news! Last night I opened an email from Taylor Miller, Manager of Admissions for SIOR (Society of Industrial and Office Realtors) that reads: "This email is to notify you of your acceptance to SIOR. You'll officially become a new member on May 1st, 2013 and may start using the designation on that date." 

For those that don't know, the SIOR designation is one of, if not the most difficult commercial real estate designation to receive and represents the successful completion of rigorous coursework and challenging career performance over a period of at least 5 years. Needless to say, I am excited and honored to be joining the ranks of this prestigious group I so highly esteem. See you at the Spring World Conference.

IPG Commercial Creates Onsite Fitness/Community Facility

In an effort to support our team, our clients and the community, IPG Commercial recently remodeled a 2,400 square foot building located directly behind our main offices as the new official IPG Recreation Center. 

“This new space will provide our team inspiration and new opportunities to stay in good health, not just physically, but spiritually, emotionally, and mentally as well.” Said IPG President Michael Jeppesen.

In addition to regularly scheduled fitness, yoga, and various classes, IPG plans to offer the space as a community resource to our friends and clients.  The building can accommodate a variety of uses from workshops, planning meetings, and other creative pursuits.

Please let Erica Richardson know if you would like to come by and take a look at the space or to join us for one or more of our upcoming offerings. erica@ipgcre.com

E-Commerce and Industrial Real Estate

I read a paper this week from CBRE’s Global Research and Consulting Group entitled The Impact of E-Commerce on Industrial and Retail Real Estate.  With the growing trend of retailers toward an E-commerce framework the paper discusses the impact on their distribution and warehouse facilities. The paper identifies five things that E-commerce tenants are consistently looking for when leasing these facilities:

1.       Increased Infrastructure such as conveyors and sorting systems.

2.       Heavy Power.

3.       Location within 24/7 zones.

4.       Higher clear height to accommodate higher racking.

5.       Abundance of land for parking and transport truck turning radius.

Because of these requirements, the E-Commerce Tenants are often choosing build-to-suit options rather than modification of older existing buildings. Siting Amazon as an example, they have announced 25 Million sq. ft. of build-to-suit plans for California, New Jersey and Texas. Understanding these new demands will help developers of Industrial buildings develop more suitable product for E-Commerce tenants.

To read the entire paper follow this link. The Impact of E-Commerce on Industrial and Retail Real Estate