Grisanti Group Commercial Real Estate is happy to announce the $1.4 million closing sale of the property at 4630 Westport Road. The Holzheimer Family owned this great piece of Louisville real estate at the corner of Westport Rd and Washburn Ave in St. Matthews for over 70 years. As the new Watterson Expressway interchange at Westport Rd transformed this area into a commercially connected corridor, the family sought to transfer the land to a more suitable user.
Park Community Federal Credit Union is the new steward of this parcel of land, and it will construct not only a branch office, but their corporate offices as well. We wish them the best of luck.
We are also excited to see this part of Louisville benefit from the new infrastructure investments made by the Metro Government. As always, Grisanti Group is proud to help facilitate economic growth in Kentucky and Southern Indiana.
The stock market may be fluctuating daily, but research shows that in the long run real estate is stable choice to add to your portfolio.
Data from National Real Estate Investor shows that real estate investment trusts are not very highly correlated to other asset classes. Thus, the wild swings in the stock market are not realized in such dramatic fashion in private real estate holdings. According to the article Is Real Estate a Good Diversifier?, there was been a 173% recovery in national Real Estate Investment Trusts from February 2009 to May 2011, signifying potential for even greater recovery in the market.
Private real estate has shown relatively low volatility, and has achieved among the highest risk-adjusted returns among the major asset classes over the past three decades (1978-2010). That means that for each unit of risk, it is estimated that private real estate has provided higher returns than stocks and public real estate, and has matched the bond index.
Real estate values are highly specific to each investor’s account, varying a great deal depending on the characteristics of each asset. Grisanti Group’s broad listing portfolio and connections throughout Kentucky and Southern Indiana allow us to assist our clients in customizing their holdings. Our extensive resources, such as access to demographics, traffic counts, and sales comparisons, will provide you with all of the information to select properties that are recession proof. We have the expertise to make sense out of your dollars and dollars out of your cents.
Without a doubt, everyone is sick of the word uncertainty, but like it or not, it is the reality of the times. The boom years in our business meant that real estate investors often had only the next sale price in mind when they bought a property. Real estate prices will always rise was the thinking.
Of course that old adage proved to be false in the housing market, but it doesn’t mean investors should be scared of commercial investments. Commercial properties with real cash flow or monthly income should prove to be a sound place to invest, and in the long run, return on investment should prove
Says Joel Ross of GlobeSt.com, “projecting huge value jumps over 4 or 5 years is hard to do since there is so much we cannot predict, so current cash flow is probably what is most reasonable to be looking to. Solid office assets (and) multifamily in many markets are all assets worth acquiring.”
Or take a look at a Yahoo! Finance article from this summer called “5 New Rules of Real Estate”
4. Investing? Focus on Income
Somewhere along the way, ordinary civilians got the idea that there were massive profits to be made in real estate, if only they could flip the properties fast enough. The problem with that strategy became apparent when the real estate market crashed, and investors (who were leveraged to the hilt) couldn’t get out of their properties in time. When you’re paying thousands of dollars for a mortgage but don’t have any income — nor hopes of a sale — it’s a fast track to bankruptcy.
But now is an amazing time to buy investment property. Purchase a foreclosure or two (or up to 10, if you can find the financing), and focus on how much income you can get each month. If you buy a foreclosure in the Atlanta area for $75,000 and can get $800 to $1,000 per month in rent, that’s a terrific return on investment.
Grisanti Group of course focuses on commercial real estate, not foreclosed homes. But we can help you find office assets, self-storage, and turn-key business opportunities which can bring you real cash flow every month. Check out our featured properties, or contact us to learn more about our vast and varied listings.
Whether you are a sailing enthusiast or just enjoy spending time on Louisville’s beautiful waterfront, The Fleur de Lis Regatta, presented by Sailing for a Cure Foundation, is a worthy cause and a great reason to get out and enjoy the end of summer on the Ohio River. Grisanti Group is a proud sponsor of this sailing weekend which supports The Leukemia & Lymphoma Society.
Our own broker Steve Lennon, a long time sailing enthusiast, will be captaining the Irish Moth. On the weekend of September 16th-18th, Steve’s crew and 32 others will compete for racing glory. The real point, of course, to raise money for research and to help the families of those struggling with these blood diseases.
It will be a fantastic family event on the Great Lawn at Louisville Waterfront Park and the Harbor Lawn marina, and we would love to see friends of Grisanti Group there.
If you’d like to donate, support the Irish Moth, so we can top both the sailing and the money raising!
Denver-based Qdoba Mexican Grill has become a Kentucky and Southern Indiana favorite thanks to its fresh ingredients, clean and friendly restaurants, and affordable menu. As a company always seeking growth in developing areas, it is also one of our favorite clients.
Grisanti Group has placed Qdoba’s newest location in a bustling retail center off of Veterans Parkway in Clarksville, Indiana. The store will fit nicely among other casual dining options MacAlister’s Deli and Papa Murphy’s Pizza.
The surrounding area includes retail anchors such as Wal Mart, Sam’s Club, Target, Best Buy, Bed Bath and Beyond, and Lowe’s. The workforce lunch crowd and hungry shoppers alike will surely rejoice at the thought of burritos, queso, and fresh salads coming their way.
If you are interested in putting your business where it can succeed, follow Qdoba’s lead and let Grisanti Group select the perfect site for your needs.
As mentioned on the blog recently, Grisanti Group has placed Cluckers, Gray’s College Store, Home Run Burgers, and Qdoba Mexican Grill in Cardinal Towne, the new student living complex near UofL’s campus. As the school year approaches, the site is really coming to life.
The residential section should be finished in the beginning of August and ready for students to move in on the 15th of the month. In the meantime, the commercial spaces on the ground floor will continue with their own build-outs and should be open for business soon.
On August 10th, 3rd Street Development with host the Official Ribbon Cutting Ceremony at 1:30 p.m. Distinguished guests will include Louisville Mayor Greg Fischer along with dignitaries from the University. Those in attendance will be allowed to view the residential and commercial areas of the development.
Cardinal Towne will host more events throughout the fall, and we will keep you posted on happenings. In the meantime, we recommend you go and take a look for yourself and enjoy this revitalized part of Louisville.
Our listing at 4414 Louisville Avenue is a total of 20, 800 s/f, consisting of three attached buildings on two lots.
When it proved difficult to sell the entire property, we divided the property and conquered market resistance by selling off the 6,800 s/f portion. Steve Lennon and Paul Grisanti represented both the Seller and the Buyer in this transaction, which closed on July 12th.
The Grisanti Group team works constantly to find creative solutions for our clients; this is especially important as commercial real estate gradually emerges from its slowdown.
What do Louisville, KY and Augusta, GA have in common, besides the obvious connection to the Masters and the PGA tour at Valhalla?
Grisanti Group agent Jim Hutcherson successfully listed, marketed and sold the Piccadilly location on North Hurstbourne Parkway near Shelbyville Rd in Louisville, KY. As a result of his efforts, he has been retained as a consultant to dispose of three Georgia Piccadilly properties located in Marietta, Warner-Robins, and Augusta.
Property and equipment are available. These high-traffic locations offer great business opportunities for restaurants or commercial land development.
Principal broker Paul Grisanti, who is licensed in Georgia, has the three properties listed and can be contacted for further details.
Our self storage clients might find some useful information in the 2011 Legal Learning Webinar Series being hosted by Inside Self-Storage thru their website, insideselfstorage.com/webinars. In this monthly lecture series, an attorney addresses issues that affect the industry. The hosts from ISS will answers questions directed at self storage owners, managers, investors, and developers. Some topics covered will be: legal mistakes to avoid, how to handle storage units in the event of death, divorce, and bankruptcy, and how the reality TV shows Storage Wars and Auction Hunters are changing the business.
Don’t hesitate to contact your Louisville area self storage experts, the brokers of Grisanti Group Commercial Real Estate, with any questions you have on the local industry. Mike Helline and Paul Grisanti, members of the Argus Self Storage Sales and Marketing Network, are ready to find and sell your properties in Kentucky and Southern Indiana.
As the University of Louisville sought to expand student housing options, it gave its blessing to private developer Investment Property Advisors to construct a state-of-the-art student living complex on the northwest corner of campus. Set to begin leasing this August, Cardinal Towne will provide furnished apartments for 540 students along with amenities such as pool, fitness center, study and lounge areas. Grisanti Group is proud to represent four of the commercial tennants which will occupy the ground floor of this impressive development situated on Cardinal Blvd between S. 3rd and 4th Streets, at the site of the old Masterson’s Catering.
With Paul Grisanti’s experience in the restaurant business and past success finding sites for casual dining clients, it is no surprise that Grisanti Group has placed student-favorites Qdoba, Home Run Burgers, and Cluckers at the doorstep of Cardinal Towne’s residents.
Of course, these students will have to attend class every once in a while, and Gray’s College Store will conveniently serve all of their book, supply, and Cards gear needs.
Cardinal Towne promises to be destination living for UofL students, and will provide Old Louisville with a neighborhood retail center. We at Grisanti Group Commercial Real Estate are confident that our clients will prosper in this exciting new location.