The annual NAI Global Convention is a powerful reminder of the scale the NAI Global network is, and that NAI Harcourts is a part of. It’s a platform to share global real estate knowledge and make international connections and in turn transactions that most real estate companies do not have the ability to do.
(LtoR) Richard Laery (CEO NAI Harcourts Australasia, Frank Garrison (President – C-III Capital Partners), William Lauder ( Chairman of The Estée Lauder Companies), Andrew Farkas (Chairman and Chief Executive Officer of Island Capital Group LLC, owner of NAI Global) and Rob Forde (CEO Harcourts USA)
After recently attending the NAI Global Convention in Carslbad, California in September, CEO for NAI Harcourts Australasia, Richard Laery says “the importance of our international connections is paramount for the future growth of the brand on an international scale. It is this global network that sets us apart from our competitors. This network is all at our fingertips and we have the ability to connect business worldwide”.
With the convention being held in San Diego, USA it was a priority for Laery to connect with the on the ground NAI Global members in San Diego. Gary Swedback, President of NAI Mexico in Tijuana accommodated Laery with a visit to the NAI Mexico corporate office in Tijuana just 30 minutes south of the USA border. Business strategies, ideas and market data were shared with also a site visit to one of the industrial parks in Tijuana that are key for Mexican and international trade with the USA.
It was here that the medical division of the New Zealand Fisher and Paykel company sought their first overseas expansion project in 2008 through the commercial specialists at NAI Mexico. More recently the company has started building a new manufacturing plant on a 38-acre piece of land at an approximate cost of $50million. F&P Healthcare has used Mexico as a manufacturing base to supply US healthcare providers with its respiratory face masks. Both property transactions of Fisher and Paykel were facilitated by Swedback’s NAI Mexico team. NAI Mexico were chosen by Fisher and Paykel as the most reputed commercial property company in Tijuana and through maintaining a collaborative relationship were appointed a second time.
Tijuana is an attractive location for manufacturing plants due its proximity for distribution to North America and its cheaper labour costs. Many international companies are situated in Tijuana for this purpose and are taking full advantage of the economic benefits such as aerospace, automotive and appliance companies to name just a few.
The NAI Convention was a meeting of the worldwide NAI Global commercial specialists. NAI Global President Jay Olshonsky and in-house council and Capital Markets Group member Alex Waddey discussed collaboration of the network to generate business beyond local markets. Olshonsky noted that this conference established a record for first-time attendees with over 100 new NAI professionals in Carlsbad, as well as members from China, Australia, Germany, Peru, Korea, Austria, Canada to name a few.
Andy McCulloch, Managing Director for Green Street Advisors, unveiled some insightful commentary on the future of business of retail.
McCulloch said there are 1200 malls in the U.S. today and he expects 300 of them will close in the next 24 months, and more malls will close in subsequent years. “It’s one property type that is ripe for rightsizing,” he said.
Apparel has historically constituted 75% of mall space. It is about 50% now and will be 25% in the future, replaced by experiential retail, entertainment and more food and beverage.
While eCommerce is currently the biggest disruptor in real estate, in the next 10-15 years driverless cars will be the biggest disruptor in real estate, according to the Green Street analyst. There are 3 million driver-based jobs in America now – 2% of the workforce, driving trucks and taxi cabs. Those jobs will vanish. There are 1 billion parking spaces in the U.S. that will be cut in half or more once fewer people own cars. America has 10 times the amount of garage space than we do self-storage space. All that freed up garage space will put a lot of self-storage out of business. How this plays out in the Australian and New Zealand Markets and if this is to become a global pattern will remain to be seen.
The convention included commentary from founder and CEO of Island Capital Group, Andrew Farkas and Executive Chairman of Estee Lauder, William Lauder. Lauder spoke with authority about the many various dynamics of his business. As the third generation to lead the business it was evident how involved and passionate he is about continuing the success of the prestigious skincare business his family over three generations has created.
- Takapuna Warehouse/Workshop – 535m²Superbly positioned on Barrys Point Road, only 3 minutes north of the Harbour Bridge, this 535m² warehouse/workshop is available now on new lease. The premises offer a split level combination of warehouse space and lower stud workshop or light manufacturing areas with access via two full height roller doors, good size mezzanine storage area plus separate office and amenities. Large rear yard with parking for 7+ cars. Key features: - Dual roller door access - Ample yard space - High and low stud storage - Easily Accessible - Available now Call now to arrange an inspection of this exceptional opportunity.
- High Profile Takapuna Showroom – 913m²Situated in the heart of sought after Barrys Point Road in Takapuna, these very smart road front showroom premises are available now on a new lease for the first time in 10 years! Offering wide street frontage with excellent exposure and large front yard for display purposes or customer parking, this building has been extensively renovated. Internal layout provides for a spacious open plan high stud showroom, open mezzanine suited for display or storage, amenities and kitchenette plus lower level warehouse storage or internal covered parking. Comprising retail showroom/amenities of approx 521m², mezzanine display/storage 177m² and lower level warehouse/garage of 215m² the premises include 6 car parks on the front yard plus 2 at the rear. Only 3 minutes north of the Harbour Bridge, Barrys Point Road is home to many outdoor sports, trade retail, automotive, furniture and service retail type uses. Call now to arrange an inspection of this exceptional opportunity.
- Takapuna Warehouse/Workshop – 544m²Superbly positioned on Barrys Point Road, only 3 minutes north of the Harbour Bridge, this 544m² warehouse/workshop is available now on new lease. The premises offer a split level combination of warehouse space and lower stud workshop or light manufacturing areas with access via two full height roller doors, good size mezzanine storage area plus separate office and amenities. Large rear yard with parking for 7+ cars. Key features: - Dual roller door access - Ample yard space - High and low stud storage - Easily Accessible - Available now Call now to arrange an inspection of this exceptional opportunity.
- Multi-tenanted Investment – Attractive Yield.This freehold Milford property is an absolute winner given its location, multiple tenancies and future re-development potential. Milford is in demand from tenants and investors alike. Situated next door to New World Supermarket this regular-shaped freehold site of 758m² (more or less) is zoned Business Town Centre allowing development up to 18 metres in height. Offering investors a potential rental of approximately $299,000pa + OPEX and GST there are 11 tenancies including retail, hospitality and offices. The seismic rating is 100% NBS on the retail portion and 95% NBS on the office. Multi tenanted and offering split risk, properties like this are keenly sought after, call today for more information. For sale by negotiation.
- The Top Spot on Victoria RoadAvailable for lease is a stunning retail shop consisting of approximately 83m² plus shared bathroom facilities with the tenancy directly behind. Positioned with fantastic exposure, located in the heart of Devonport's bustling town centre this space is ideal for a variety of uses. Take advantage of the high foot traffic and growing popularity of Devonport as a seaside destination for locals and visitors alike. This is a superb opportunity to get a prime position for the up and coming Americas Cup. Floor area: 83m² (approx.) plus a share in bathroom facilities. Features: - Wide street frontage - Light and bright retail tenancy - Close proximity to Devonport wharf - Generous street parking - Great foot traffic - Available now For more information and an appointment to view this well appointed space, please contact the SOLE AGENTS at NAI Harcourts today.
- Takapuna Retail Showroom and Warehouse – Barrys Point RdSituated in the heart of sought after Barrys Point Road in Takapuna, these large retail showroom, warehouse and office premises totalling approx. 1,462m² are available on a new lease from September 2020. Offering wide street frontage with excellent exposure and large front yard for display purposes or customer parking this building has been occupied for the last 10+ years as a successful Motorcycle Dealership providing sales, accessories and service facilities. Comprising retail showroom of approx 524m², mezzanine office 186m² and warehousing and storage of 752m² the premises include 6 car parks on the front yard, further 9 at the rear and option for additional basement car parks. Only 3 minutes north of the Harbour Bridge, Barrys Point Road is home to many outdoor sports, trade retail, automotive, furniture and service retail type uses. Call now to arrange an inspection of this exceptional opportunity.