Recently, someone told me that as a country, we are not over “mall-ed,” we are just under-demolished. There is still a place for shopping malls on good real estate, just not as many. Patterns are changing. I traveled to New England this week to visit a couple of our projects. Driving through smaller towns like …
In our industry, I’ve found that many times folks use too much stick and not enough carrot. Let me explain. Because of tight deadlines and performance pressures, resulting in little time, the industry tends to cater to impersonal emails at best, and raised voices at worst. Perhaps we could all practice better manners and carve …
Over the last few weeks, we have been working on the initial stages of a project that will land somewhere between $40 and $70 million, with a 2017 delivery. A really nice, interesting project. Recently when I was meeting with our customer about the project, I asked about two consultants who I thought would be …
We are finishing a project that features a technology element so proprietary that there are no drawings. Instead, the system manufacturer sent employees to direct which components go where for our “rough in.” This served to protect the intellectual property. Our team took a number of steps to minimize confusion and maximize productivity on this …
In planning our projects, we always look at average weather conditions. Average is a thing of the past, and it seems we are now surprised by reality more often. We had a project in Wisconsin last winter, and we were told it was the coldest in memory. I guess they did not know about this …
For income producing commercial property, Capitalization (Cap) Rates determine property values, a function of the dollars generated by the property and thus the ROI. These cap rates are influenced by a ton of different factors including type of investment, location, potential for increasing cash flow. The lower the cap rate the more valuable the property. …
I’m fortunate to be a part of a solid initiative called Design Alabama. Every year we participate in a Mayors’ Summit, working with five different cities on their most challenging design problems. We just completed our 2015 Summit. A few interesting nuggets I learned about Millennials trends (people born 1979 to 1996) 31% of Millennials prefer …
We have a project in the works that has potential for soil movement of subgrade because of wet and dry cycles. It may require a post-tensioned slab on grade. We will group the cables and space them throughout a slab, just as we would an elevated slab. After the concrete is poured, but before it …
This week, I received the picture above, showing one our crews on a redevelopment project. The company name on the back of a vest brought back many memories. Several of us got our start with Brice Building Company, under the tutelage of H.A. Brice, Jr., and the leadership of the company at the time. When …
Recently, we have been in the final lap of the most complex financing project I’ve ever worked on. We’ve been wading through a Historic Tax Credit (“HTC”) and New Market Tax Credit (“NMTC”) deal for a landmark redevelopment urban project. In the beginning, it was like observing alien matter. There were lots of consultants–legal and others–along …
When it comes to maximizing a career in real estate, Auburn University has gotten it right. Since 2010, the College of Architecture, Design and Construction and the College of Business have partnered to offer a post-graduate track for students to earn a Master of Real Estate Development (MRED) degree. Professors Michael Robinson and Harris Hollans lead the program. The program is aimed at practicing …
In the CBD of Birmingham, we’ve been providing Construction Management services for a grand theatre that’s more than 100 years old. With structural analysis of The Lyric Theatre complete, we’ve moved ahead with the restoration of the theatre envelope, including tuck-pointing the exterior masonry and re-roofing the building structure to provide a weather-tight environment for …