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Year: 2018

Martens Companies 

A Commercial Appraisal Costs How Much?!

Martens Appraisal

It’s Black Friday! Hopefully, you are getting some good deals and avoiding situations like this: While we always strive to keep our prices down, many people who are unfamiliar with the commercial appraisal process are stunned after they are provided with a commercial appraisal quote.  If you are only familiar with the costs/fees and turn-around times for single-family residential appraisals you may not understand the costs and time associated with a commercial report. A commercial appraisal can take from 30 hours to several weeks depending on the complexity of the report. The…

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NAI Martens, Wichita Commercial Real Estate Martens Companies NAI Martens 

5 Wichita New Developments We’re Thankful For

naimartens

It’s Thanksgiving – the time of year when we all take a moment to acknowledge what we are thankful for. Our city is making great progress and there are a number of proposed, under construction and recently completed developments that we are thankful to have or have coming to Wichita!   #1: Riverfront Village At last Wichitans are expected to get a development that most have wanted for years – something that will bring restaurants, bars and more along the Arkansas River. Riverfront Village will be a 7-acre mixed-use development…

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Martens Companies 

Opportunity Zones for Student Housing- Interactive Map

Martens Appraisal

Martens Appraisal researchers came across this article with a very useful interactive map of Opportunity Zones and universities.    As an asset class, Student Housing stands to benefit from the Opportunity Zones, as explained below. Specific asset classes have the potential to benefit from Opportunity Zones, Student Housing is one of the first that come up. This is because college towns tend to have high-density populations of students who are intentionally unemployed while attending school full-time. In many cases, these colleges are expensive to attend and the student population is not actually in…

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NAI Martens, Commercial Real Estate Wichita NAI Martens 

This is What the Office of the Future Looks Like

naimartens

In the future, connectivity may be an even more important factor when purchasing office space than location or price, some are predicting. Just like every office first had to be wired for telephone systems, then coaxial cable for the internet, and now wireless, in the future Smart technology will be standard for all office buildings. Office space itself is already changing dramatically. More often than not, there are multiple companies in one building instead of one company per building. Outside of the building, office space is becoming more like a…

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Hospitality Management, Hospitality Development of America, Midwest Hospitality Martens Companies 

Hotels Look to Home-Sharing as Next Revenue Stream

Katie Fernando

Hotels like to posit themselves as one’s home away from home, but lately this has been given a new twist. With the continued rise of home-sharing services such as Airbnb, hotels have decided to get into the arena by creating their own space in the private high-end home rental market. “Now they see it’s the same travelers just choosing different accommodations based on the occasion or situation,” Boston University assistant professor of hospitality marketing Makarand Mody told The New York Times, adding that guests who choose a hotel for a…

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Martens Companies 

What is Fair Market Value (FMV)?

Martens Appraisal

Short Answer Fair Market Value (FMV) assumes that a buyer and seller are aware of the facts and that the price in which the property exchanges for is not the result of a forced sale. Note that Fair Market Value is not the same as Fair Value utilized by a banker, bank examiners or accountants. Definition According to IRS Regulation §20.2031-1, which is also included in the Dictionary of Real Estate Appraisal, Sixth Edition, published by the Appraisal Institute (Chicago: Appraisal Institute, 2015) Fair Market Value (FMV) is defined as: “The…

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NAI Martens, Wichita Commercial Real Estate NAI Martens 

Retail is Still Thriving: These Brands are Opening Stores

naimartens

Retail isn’t all doom and gloom—there are plenty of retailers that are opening stores instead of closing them. Moreover, many are planning to expand beyond this year. However, there is a fundamental change that is happening causing this weird paradigm where there are brand named box store closings everywhere while simultaneously brand named stores are opening and expanding. The need for enormous department stores and outlet buildings has passed. These days retail is getting smaller as the industry overall is diversifying. News of thousands of closures has led many to…

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Martens Companies 

Martens Appraisal has 4 MAIs – What Does That Mean?

Martens Appraisal

Four of the appraisers at Martens Appraisal hold the MAI Designation. What exactly does that mean, though? The MAI designation is held by professionals who provide a wide range of services on all types of real property.  The MAI designation has long been recognized by courts of law, government agencies, financial institutions and investors as a mark of excellence in the field of real estate valuation. Just like becoming a state certified appraiser, earning the MAI designation requires a long process of work experience and “rigorous” education. To become an…

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NAI Martens, Wichita Commercial Real Estate NAI Martens 

What Does the Smart City Mean for Our Future?

naimartens

The Smart city market is projected to reach $400 billion by 2020. The type of data analysis that is made possible through Smart cities will become invaluable for identifying prospective investments, new or re-development, attracting tenants, and building better infrastructure. One tech leader, Cisco, is pouring hundreds of millions of dollars into Smart city projects all over the world including in San Jose and Chicago. Electricity giant GE (General Electric) has joined with city governments in San Diego, CA and Jacksonville, FL to test pilot Smart cities there. Will this…

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