NAI Martens Blog - Industry News and Research from Wichita's market leader in commercial real estate.

Mike DeHass, MAI recently completed an appraisal on a unique property in Kansas. The report was prepared for traditional lending, the property was definitely not traditional! A combination of office space and a former feed mill presented a challenge to an experienced appraiser like Mike. Some of the most difficult appraisals complete are on unique properties in Kansas or those that are in rural locations. In cases like this, the availability of suitable sales for comparison can be challenging due to limited market activity. An appraiser can only use what…

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CRE Investor Demand is High: Here’s Why

January 21, 2020January 13, 2020 naimartens

Investors have all eyes on CRE. 2019 has seen investor demand ramping up as interests from international audiences peaked, but things have currently come to a high point. According to an annual survey conducted by Cornell University, investor appeal is currently greater than it’s been in 7 years. Why is the Demand So High? So what happened that caused this spike in investor interest? First of all, it’s all about reputation. Real estate has proven itself to be a safe, secure, and low-risk investment option. Real estate assets generate strong…

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Martens Appraisal completes work on hotel appraisal in Kansas

January 21, 2020January 17, 2020 Martens Appraisal

Lee Whyte, MAI recently completed work on a hotel appraisal in Hutchinson, Kansas. The report was prepared for traditional lending purposes. Hotel appraisals in Kansas are much more difficult than other types of commercial real estate appraisals and should really be left to the experts. In general, a combination of three methods will be used in a hotel appraisal in Kansas: income, sales comparison and the cost approach. The income approach is an assessment of the property’s revenue-earning power and there are several types that may be used. The first…

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This Week in Wichita Commercial Real Estate 1/17/20

January 17, 2020January 16, 2020 Martens Appraisal

What does the future hold for Century II? A new plan for the riverfront says it may soon be a memory. This story and more in our weekly look at the top stories in Wichita Commercial Real Estate. Final Riverfront recommendations: new centers, green space near river, sales tax In the next 10 to 15 years, the east bank of the Arkansas River could have an entirely new footprint. One that includes a new performing-arts center to replace the existing, blue-domed Century II. A new convention center sunk partly below…

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Fed Beige Book: CRE Mixed Across Districts

January 16, 2020January 16, 2020 Martens Appraisal

Overall Economic ActivityEconomic activity generally continued to expand modestly in the final six weeks of 2019. The Dallas and Richmond Districts noted above-average growth, while Philadelphia, St. Louis, and Kansas City reported sub-par growth. Consumer spending grew at a modest to moderate pace, with a number of Districts noting some pickup from the prior reporting period. On balance, holiday sales were said to be solid, with several Districts noting the growing importance of online shopping. Vehicle sales generally expanded moderately, though a handful of Districts reported flat sales. Tourism was…

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Colleges are Cashing in On Real Estate: Here’s How

January 16, 2020January 13, 2020 naimartens

We all know that real estate is a prosperous industry. Its profit-boosting powers have been catching the eyes of a new demographic. Can you guess who? If universities came to mind, then you’re right on the ball. Colleges have been heavily investing in their surrounding communities for a while, and they’ve been reaping the rewards. Universities are now playing a far more active role in their local commercial markets. Let’s take a look at how colleges are using commercial real estate to increase their profits. Expanding the Campus Grounds Today’s…

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4 Ways We’re Urbanizing the Suburbs

January 14, 2020January 13, 2020 naimartens

The world’s biggest cities have long been the most highly sought-after locations for CRE – but that might be changing. What was once a place where people flocked to for affordable living and to be nearby the workplace has now become incredibly overcrowded and expensive. For many, finding an affordable living option in big cities is extremely difficult. With apartment prices on the rise and competition being hotter than ever, these popular metropolitan oasis’ have lost their appeal to both their largest demographic. If the urban areas are no longer…

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This week in Wichita Commercial Real Estate

January 10, 2020January 16, 2020 Martens Appraisal

It’s been a big week in Wichita! We are all nursing sore throats from cheering on the Shocker’s big top 25 win last night but there has been quite a bit of Wichita commercial real estate news as well! Here are the highlights from the past week. Far-reaching boundaries for proposed stadium CID include sites for future development The City Council on Tuesday will consider establishing a Community Improvement District that will help pay for the construction of the $75-million downtown baseball stadium — the future home of the minor-league Wichita…

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What Levi’s New Retail Stores Mean for the Sector

January 9, 2020December 13, 2019 naimartens

Retail apocalypse, who? CRE’s retail sector is undoubtedly reinventing itself, but that doesn’t mean brick and mortar retail is going extinct. On the contrary, more and more brands are announcing big plans to open up physical store locations. The latest is Levi’s, who vowed to open hundreds of stores by the end of 2019. Let’s explore what this means to retail as a whole. Why Turn to Physical Retail? If you’re listening to CRE retail news, you know that the value of brick and mortar stores is a hot debate.…

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Protecting NOI in the Senior Living Space

January 7, 2020December 13, 2019 naimartens

When observing the latest trends in senior living, don’t jump to any conclusions – make sure you’ve got the whole picture first. CRE’s senior living sector is facing low occupancy rates – but that doesn’t mean the industry isn’t standing strong. When it comes to NOI, occupancy isn’t everything. While a property’s occupancy rates can act as the main contributor to net operating income, there are other elements that help fuel profits for CRE. So what’s going on in the senior living spaces that are sparking turbulence for commercial real…