His view is of One Liberty Place, the 61-story premier office address that, to the casual observer, is a glistening marvel. To Hirschfeld, it’s also a constant prod that he’s “gotta make the doughnuts.”

That means finding a tenant for the 54th floor, a spectacular space that, despite pulse-quickening views, Hirschfeld, as One Liberty’s leasing manager, has had no luck filling since Cigna moved out three years ago.

It’s just a hint of the harrowing state of affairs in commercial real estate, where vacancies are on the rise across virtually all sectors, rents and property values are dropping, building owners are low on funds, and financing options are drying up.

And bad as things are, they’re expected to get worse - the next slide in the snowballing economic crisis that began with the collapse of the housing market and continues to claim casualties.

“There’s a tremendous amount of pain coming,” declared Sid Smith, managing partner of the regional office of Newmark Knight Frank Smith Mack, a global real estate services firm.

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“No city has gone unscathed in the last 18 to 20 months,” said New York developer Don Monti, who focuses on downtown revitalization.

But he said he believed that financing for rental properties was available to “aggressive” developers, “since rental is the last market to go and the first to come back.”

When demand shrinks, as it has over the course of the current recession, there is a danger that too many units will be built. Rising unemployment remains the main cause of vacancies in the Philadelphia region.

At the end of the third quarter, the metro Philadelphia apartment-vacancy rate was 6.2 percent, compared with 4.1 percent a year earlier, according to the real estate consulting firm Delta Associates.

Thirty-four hundred more units are to be completed in the next 36 months, and that may help boost the vacancy rate, Delta’s report said.

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Washington, DC (PRWEB) November 10, 2009 — Despite significant investments by apartment firms to offer online and automated rent payment systems and growing use of the Internet to pay bills, most renters continue to deliver a rent check to their property office each month, according to a new research report by the National Multi Housing Council (NMHC).

Automated Payments: Progress and Challenges provides the results of a survey of 110 leading apartment firms about their experience in automating the payment of rent and other fees.

Just a few years ago, virtually no apartment firm accepted credit cards for rent and all rent payments took place in the property office. The industry has made great strides since then in offering automated payment methods such as online check payments, credit card payment and the scanning of checks. These options improve the customer’s experience as well as back-end processing, which reduces the owner’s costs and improves property cash flow.

Unfortunately, few renters are taking advantage of these new payment options.

Survey Key Findings:

Adoption Rates for Automated Payments
• 74 percent of firms now allow renters to use a credit card to pay rent.
• Although 81 percent allow renters to pay rent online either via a credit card or bank transfer, only 18 percent of payments are made that way.
• 76 percent of renters pay their rent with a check delivered to the office; only 12 percent pay via a credit card and only 10 percent pay via an automated bank transfer.
• Even though apartment firms can now easily scan checks for faster processing, more than two-thirds of check payments received are still manually processed.
• 70 percent of apartment firms engage a third-party firm to provide an automated payment solution rather than developing their own system.

Convenience Fees
• One obstacle to greater online rent payment is the convenience fee banks charge firms that accept credit cards. The majority of respondents (79 percent) pass this fee on to the resident, which can discourage credit card use.

• For firms that accept credit cards for rent payment, most (64 percent) have a flat fee pricing schedule. Although this simplifies matters for the renter, it may not cover the apartment company’s credit card transaction costs since banks charge apartment firms a variable rate based on the size of the transaction. Eleven percent use a variable fee structure, and 4 percent use a tiered-fee structure.

Obstacles to Automation
• In addition to limited resident adoption of automated payments, apartment firms continue to face technological obstacles. The most common problems reported include:
- Integration issues with property management software: 37 percent
- Hardware/scanner issues: 33 percent
- Accounting/reconciliation issues: 33 percent

• Because of integration problems that persist between property management systems and automated payment solutions, 21 percent of firms have not integrated the two systems.

Quotes Attributable to David Cardwell, NMHC Vice President of Technology
• “This survey uncovered several key issues with automated payments in the apartment industry. First, most apartment residents are not taking advantage of the automated payment options. Second, apartment firms that have invested in a more streamlined or electronically based rent payment process are not getting the full benefit for two reasons: limited resident adoption and corporate problems related to technology usage and/or integration.”

• “To overcome these obstacles, the industry will need to aggressively promote the use of automated payments by ensuring that both residents and property-level staff know how and what type of automated payments make sense. And the industry’s technology partners must work with apartment owner/operators to address the integration problems.”

About NMHC
Based in Washington, DC, NMHC is a national association representing the interests of the larger and most prominent apartment firms in the U.S. NMHC’s members are the principal officers of firms engaged in all aspects of the apartment industry, including owners, developers, managers and financiers. One-third of Americans rent their housing, and over 14 percent live in a rental apartment. For more information, contact NMHC at 202/974-2300, e-mail the Council at info(at)nmhc(dot)org, or visit NMHC’s web site at www.nmhc.org.

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For the original version on PRWeb visit: http://www.prweb.com/releases/NMHC/AutomatedPayments/prweb3178184.htm

Bellingham, Wash. (Vocus) November 10, 2009 — Meridian Plaza launched today its new Tenant Referral Program, a refer-lease-and-earn campaign that promises $2,500 cash for each referral that results in a three-year lease at the newly renovated retail center, located adjacent to I-5, at the intersection of Telegraph Road and Meridian Street in Bellingham.

Meridian Plaza is owned by an affiliate of Hackman Capital Partners, LLC (HCP).

According to Mike Schlesinger, Vice President of Asset Management for HCP, the company excels at creative marketing that attracts tenants to properties, and knows from experience that tenant referrals tend to be qualified prospects who are more likely to sign leases.

“We’ve had great success when tenants refer other tenants,” said Schlesinger. “Now we’re asking Bellingham businesses to send us people they know. Businesses want to keep consumer dollars in the neighborhood.”

The new Meridian Plaza Tenant Referral Program was designed to complement an existing sister program geared to area real estate brokers. The broker program offers leasing bonuses, also $2,500, for each referral that results in a three-year lease, plus $50 bonuses for each property showing.

“We want to spread the word,” said Schlesinger, referring to the recent 32,000 square foot makeover at the retail center. Renovations, which totaled nearly a half-million dollars, feature a new brick and stucco façade, newly designed storefronts with canopies and fabric awnings, a newly resurfaced and restriped parking lot with wheel stops, sidewalks with new concrete benches, new monument signage, lighting, painting and other improvements.

According to Schlesinger, Meridian Plaza’s architectural transformation and prime location in Bellingham’s busiest shopping area—combined with exceptionally aggressive lease rates—create a compelling package for both national and local retailers, as evidenced by its already growing tenant roster, including Rent-A-Center, Red Wing Shoes, Maly’s, Better Nails, Hair 4

You, Thai House Restaurant—and two free-standing restaurant sites, occupied by Burger King and Denny’s Restaurant. Available spaces at Meridian Plaza range from 1,347 to 6,724-plus square feet, with a total of 12,845 square feet available for lease.

For more information about Meridian Plaza, visit the website at www.meridianplazabellingham.com.

About Hackman Capital Partners

www.hackmancapital.com [Hackman Capital Partners, LLC (HCP) is a private real estate investment firm specializing in the acquisition, management, redevelopment and adaptive reuse of industrial and commercial real estate. Founded in 1987, the company pursues value-added investment opportunities nationwide, and currently owns and manages more than 16 million square feet of real estate across the United States. HCP is headquartered in Los Angeles, and has regional offices in Chicago, Columbus, Ohio, and Kalamazoo, Michigan.

For more information, visit, www.hackmancapital.com

Media Information:
For additional information or interviews related to this release, contact:
Eleanor Moriarty
Hackman Capital Partners, LLC
310-473-8900, ext 115

Leasing Information:
For information about leasing space at Meridian Plaza or to arrange a tour, contact:
Erin Sundean
The Bedford Group, Inc.
360-647-0100

*Meridian Plaza is owned by AZNL-Meridian, LLC, a joint venture formed and managed by Hackman Capital Partners, LLC.

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For the original version on PRWeb visit: http://www.prweb.com/releases/Meridian-Plaza/Tenant-Referral-Program/prweb3171884.htm

(PRWEB) November 10, 2009 — The magnificent oceanfront “Royal Rancho” of Santa Barbara is for sale for the first time in over 30 years. One of the largest remaining Santa Barbara ranches along the spectacular Gaviota Coast, Dos Pueblos Ranch stretches from the Santa Ynez mountains down to a sandy beach on the Pacific Ocean. Along the way, Dos Pueblos Creek winds down through majestic oaks and open meadows to the shore where Native Americans first spotted Spanish ships in 1542 and Santa Barbara was discovered by the “New World”.

Throughout the development of California and in particular, the central coast, Rancho Dos Pueblos has had a rich and colorful history. In its present configuration Dos Pueblos Ranch consists of 2,200 acres including an exclusive private sandy beach compound, abundant agriculture with numerous native and specimen plantings, trees, and orchards, over 15 homes and residences including the 5 bedroom, 7 bath “Casa Grande”, garages, barns, support structures and much, much more.

Rancho Dos Pueblos is located in a rural area surrounded by large ranches 16 miles west of the historic city of Santa Barbara, California, on US Highway 101. To the south of this Highway, the Ranch extends to the beautiful Pacific Ocean. To the north it is bordered by the 1,724,000 acre Los Padres National Forest.

This beautiful coastline would have to be considered an asset of immeasurable significance in this day when truly private ocean and beach frontage in California has almost become a thing of the past. From the beach the broad expanse of Pacific offers views of passing ships, soaring gulls, frolicking dolphin and, on occasion, the spouts of migrating whales. To the west the spectacular coastline with gentle surf curves out to Point Conception in the distance. Twenty miles offshore the Channel Islands stand out on the horizon under clear blue skies.

You would be hard pressed to find a location along the California coast with more historical and modern importance than Rancho Dos Pueblos.

One can only truly experience Rancho Dos Pueblos by visiting it personally. Those with the resources and the vision to write the next chapter in the history of the Royal Rancho are invited to entertain this “priceless” offering, more akin to rare art than typical real estate.

Offered at $100 million

Rancho Dos Pueblos Website

Since 1976, Kerry Mormann & Associates has been the recognized leader in Santa Barbara County for the marketing and sale of Ranches, Agricultural Properties, Estates, and Vineyards.

His inventory of properties for sale usually ranges from between 10 - 25 listings priced between $1 - 150 Million. Kerry Mormann’s largest sale is the Cojo - Jalama Ranch, sold January 2007 for $135 Million and is believed to be the highest non-commercial property sold in the History of California. KMA covers all of Santa Barbara County and portions of Ventura and San Luis Obispo County.

When it comes to land, both Buyers and Sellers eventually find Kerry Mormann and Associates

See all the KMA ranch listings

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For the original version on PRWeb visit: http://www.prweb.com/releases/2009/11/prweb3182144.htm

Greenbrae, CA (PRWEB) November 10, 2009 — Marin Green Realtor Amy Hyde recently launched PremierMarinHomes.com, an extensive online real estate resource for buyers and sellers in Marin County, California. The site serves as a comprehensive introduction to the vibrant, laidback and one-of-a-kind region that reflects Marin County and was designed with users’ convenience in mind.

Buyers interested in Marin County homes for sale can preview properties currently available in the area, check for dates and times of Marin open homes, as well as launch custom searches in the “Property Search” section. Newcomers to the world of real estate investment who also want to learn more about Marin County’s neighborhoods can find a wealth of information in the “Community” section, while a host of invaluable guides and resources can be found in the “Tools” tab.

Amy Hyde’s new website is also the best place to obtain advice from a Marin Green Realtor specializing in “green” or eco-friendly homes. As a certified EcoBroker, Amy can assist you in finding the best energy-efficient homes and provide advice about the many ways that you can live greener lives by making right, environmentally-sensitive choices.

A Realtor for Frank Howard Allen, Amy’s residential real estate career spans more than a decade. Her communication and managerial talents combined with her previous extensive experience in the financial industry enable her to offer clients with exceptional service, utilizing both online and offline strategies. Her certifications as an E-Pro Realtor, Ecobroker, and Feng Shui consultant provide an additional edge to her commitment in giving her clients the best possible experience.

Whether you’re interested in Corte Madera Homes for Sale or investing in properties found in Larkspur, Ross, Greenbrae, San Rafael, San Anselmo, Mill Valley, and other Marin County communities, Amy Hyde’s new website is a great place to start your search.

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For the original version on PRWeb visit: http://www.prweb.com/releases/marin/homes/prweb3182514.htm

Addison, TX (PRWEB) November 10, 2009 — RealManage announced today that it has released Dashboard 1.0 as part of its internally developed community association management software application. Dashboard 1.0 delivers comprehensive insight to RealManage employees into the open tasks and key metrics of the HOA and condo association business matters viewable at an employee, community association, and resident level.

“Community association management - the management of HOAs and condo associations - is comprised of numerous discrete underlying business processes” said Monte Irion, the company’s Chief Process Officer. “This new tool adds to our existing comprehensive software application to bring all the processes into focus and allows our employees to better prioritize their work to meet the needs of our clients.”

The Dashboard currently tracks over 30 processes and metrics which are updated real-time as work is performed. The company plans to continue to add additional components to the Dashboard.

About RealManage
RealManage is a property management firm that specialized in HOA management and condominium management and manages hundreds of community associations in Arizona, California, Colorado, Florida, Louisiana, Nevada and Texas, including homeowner associations (HOAs), condominium associations, cooperatives, municipal utility districts, luxury high-rises and large master-planned communities. For more information or to request a quote for HOA management or condominium management, visit http://www.realmanage.com or call us toll-free at (866) 403-1588.

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For the original version on PRWeb visit: http://www.prweb.com/releases/2009/11/prweb3171244.htm

Sink, who has been urging banks in the state to make more loans to small businesses so those companies can add jobs, said the guidelines “strike a balance of prudent credit practices and meeting legitimate credit needs.”

Sink said the biggest concern she has heard in talking with banks is regulators’ treatment of commercial real estate loans.

Bankers have been afraid to restructure loans because an appraisal might show the property value has fallen since the original loan was made. If the value is lower, bankers fear regulators would require them to put the loan in a workout status even if the loan is performing and the borrower has never missed a payment. Once a loan is in workout status, the bank has to increase its reserves against it, and that takes away from capital that could be used for lending.

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The fourth quarter 2009 LoopNet Pulse Poll said the number of respondents that think commercial real estate transactions will rebound in 2011 jumped to 46 percent, compared to 13 percent in its third quarter survey.

And 50 percent said they anticipate a rebound in 2010, which is down from 66 percent in the survey taken in the third quarter.

The poll was taken by LoopNet members, which include commercial real estate investors, brokers and owners.

Investors were slightly more pessimistic in the fourth quarter and had a median expectation of recovery timing that’s about one quarter later than that of brokers and owners, said LoopNet.

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Park City, Utah (PRWEB) November 6, 2009 — Talisker Club www.talisker.com, Park City’s most exquisite private club, announces plans to make its renowned and exclusive, service and cuisine accessible to non-members. Talisker on Main is a new restaurant concept that will be the Club’s first-ever public facility.

The 42-seat, casual dining establishment and wine bar situated at 515 Main Street in downtown Park City will feature the cuisine of Talisker’s VP of Culinary Services, award-winning Executive Chef John Murcko, as well as the service standards and elaborate design typically accessible only to those buying into exclusive residential clubs. The restaurant is now in construction and due to open in January.

“Talisker Club has redefined the ultimate in alpine living and this will be further personified by the opening of Talisker on Main. The restaurant will provide an open invitation for the local community and visitors to experience a taste of all that Talisker Club has to offer, from unparalleled food and beverage to world-class service,” said Talisker’s Chief Sales, Marketing and Clubs Officer John C. Tolbert.

The restaurant is expected to bring a new level of dining experience to Main Street, Park City.

Talisker on Main will feature several distinct indoor and outdoor dining areas and gathering places, including a large main dining room, a private wine room, a screening room and a four-season patio and garden.

Designed by Denton House Interiors, inspirations were found in 1920-1930s classic cafés, combined with an eclectic blend of signature designs from existing Talisker Club clubhouses. From the authentic tin ceiling tiles to the vaults in the wine room, which are constructed from imported Italian roof tiles, the restaurant gives guests a 360-degree experience of the Talisker life.

Talisker on Main’s signature dining area is conceived to be interactive and its large open-air kitchen will be creatively positioned to act as a “culinary gallery”. The rest of the dining area will offer a warm and welcoming aesthetic, comfortable seating and copious amounts of natural light. Located just off the main dining room and featuring impeccable architectural details, a private wine room will be showcased for individuals or small groups to convene for business or pleasure.

Outside, Talisker on Main’s garden will offer inspiration for every season. In the spring, summer and fall, stone pathways, splashing water and the warm hearth of a great fire will provide a dramatic backdrop for alfresco dining. In the winter, fire and ice will come together as frozen fountains and furniture carved out of ice reside next to a blazing fireplace creating an intriguing spot for après ski on Main Street.

While Talisker on Main will be carefully planned and executed to offer a refined and inviting environment its true reputation will be made as a culinary standout. Providing a sampling of the tastes and temptations for which Talisker Club is known, Talisker on Main will serve lunch and dinner daily with an emphasis on fresh, seasonal ingredients and a focus on sampling many different flavors.

About Talisker and Talisker Club
Spanning more than 14,000 acres in the Wasatch mountain range, from the slopes of the Deer Valley® Resort to the valleys surrounding the Jordanelle Reservoir, Talisker has developed three of Park City’s preeminent family-oriented residential communities – Tuhaye, Empire Pass and Red Cloud – united as one through Talisker Club, an exclusive private club.

Offering an unmatched array of amenities and recreational activities including seven private clubhouses and on-mountain facilities, world-class skiing, award-winning cuisine, championship golf designed by Mark O’Meara, state-of-the art spa and fitness centers, fly fishing, water sports, family-oriented programming and Wildstar Rangers kids program. Through ownership and membership, Talisker Club enables its residents to enjoy the finest Park City has to offer.

Preview Talisker’s Deer Valley Homes at http://www.talisker.com/deer-valley-homes.php

Press contact:
Allyson Conklin, Talisker Mountain Incorporated | 435.608.1312 | aconklin at taliskermountain.com

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For the original version on PRWeb visit: http://www.prweb.com/releases/Talisker/restaurant/prweb3169414.htm