The Maples, a condo project with 132 unbuilt but platted lots in Tooele was left partially completed during the Great Recession.  While the project saw initial success with 14 buildings completed including the pool and clubhouse, 132 lots were left platted but unbuilt.  Water had to be secured for the unfinished portion of the project and then sold with the platted lots and all of the improvements in place.  This represents a great opportunity for the buyers, who are also builders based on the Wasatch Front.

“As one of the last broken projects from the last housing boom, this project represents a great opportunity for the buyers.  They will be able to step into the existing development and deliver a quality project at a very affordable cost.  The location near all of the key amenities in Tooele and its status as one of very few foreclosure deals left makes this deal a rare find in todays strong market,” said real estate broker, Neil Walter with NAI Excel.

Question: What does the world’s most expensive car and your property have in common?

Answer: It turns out, a lot. But first let’s talk about the car.

The 1962 Ferrari 250 GTO Berlinetta above (poorly sketched by me to avoid copyright issues) is valued at over $38 million dollars and will no doubt increase in value in the coming years as one of the most beautiful and rare Ferrari’s ever made. Now you may be asking why in the world would anybody spend that kind of money on a car? (By the way, it’s not just a car it’s a Ferrari) The simple answer is- they know that they are going to get their money back and then some when they decide to sell it. It’s an investment and, no that isn’t just a line men use on their wives as a persuasion tactic. In this case it’s true. Now the reason that this Ferrari is so valuable is because of its rarity, history and the near perfect condition that it is in. If the new owner wants to make sure that he gets an ROI on his investment then he needs to make sure that it stays in that condition. To that end the owner will hire only the most vetted and trusted experts to work on this car. Thus, ensuring the car’s value for years to come. (If you’re thinking of asking Santa for this car, too late it’s already on my list.)

Now, imagine if the new owner of this $38 million dollar Ferrari decided that he would like to make money off the care while he owns it. He decides to rent the Ferrari to drivers for a day at a time (I can hear the chorus of men yelling “NOOO!”). Now to protect the owner, each driver has to sign a rental agreement and be vetted that they know how to drive such a magnificent machine. This may sound ludicrous to you but the owner figures that if he does this then he will not have to come out of pocket for the monthly payments on the car and he still makes a pretty penny when he decides to sell it. He also understands that if he is going to do this then he needs a team of professionals to make sure that the car is always looking and running its best. If it works, then this owner can create a significant amount of wealth with this single asset.

Now, I know that the owners of these collector cars would never rent out their investments to drivers. Collector cars are very fragile investments, both literally and figuratively, however commercial real estate is much more stable.

The similarities of both a car collector and a commercial property owner appear in their financial expectations and their need for a competent team to help them reach their financial goals. They both want to get the most out of their assets and they both don’t want to have to bother with the tedious and time-consuming day-to-day operations. If both of the investments are managed well then these owners can count on a sizable ROI.

At NAI Asset Management we are your vetted and expert team. We manage your property so that it yields the greatest return on your investment. We work every day to ensure the highest long-termNOI for your asset thus ensuring the highest return. We handle the day-to-day operations to protect and increase the value of your property. Allow us the opportunity to share with you some of the successes that we have had and how our expertise and resources can benefit you.

Call or email me anytime.

St. George, Utah- December 16, 2016.

The Pawsitively Unique Thrift Boutique is moving to the Festival Plaza, 969 North 3050 East, St. George.  The Grand Re-Opening is scheduled for Friday January 6, 2017.

The “boutique” style thrift store supports Providing Animals With Support, “PAWS”, a 501(c)(3) non-profit animal rescue organization founded in 2003.

Currently located near the intersection of St George Boulevard and Bluff Street (490 West St. George Boulevard), the boutique offers unique gifts, furniture, collectibles, clothing and other unusual finds.  All items are donated and all proceeds benefit the organization.

The last day at the current location is December 24; the store will close at 2 pm.

“We are so excited about our new location.  We will have more room and that means we can raise more money,” said Faith Havick, President of PAWS Board of Directors and Thrift Store Director.  “Our volunteers are working hard to prepare for the move and make our store a beautiful and fun place to shop.”

The boutique welcomes donations of new and gently used items. The store is open Tuesday through Saturday 10 am to 5 pm.  Call the store at 435-414-6061 for more information.

Volunteers are at the heart of PAWS’ successful operation.  If you are interested in donating your time, please stop in and inquire about becoming part of the team.

Contact Person: Pawsitively Unique Thrift Boutique store manager Marilynn Gilbert at 801-232-2604.

Pawsitively Unique was represented by Greg Whitehead at NAI Excel.

Brandon Vandermyde, Senior Sales Associate with NAI Excel has pre-leased an 8,400 s.f. industrial building with 3 tenants one month prior to its completion.  The property is located off of Sandhill Drive just off of Washington Dam road, and is the new home to St. George Awning, Great White Construction, and NextGen Aeronautics.

The White Sage industrial complex includes quality metal buildings with rock accent in the centrally located and highly sought after Rio Virgin Industrial Park in St. George, Utah.

Curren Christensen, also with NAI Excel, represents the seller of the project.

Nearly two decades after development started on Snow Canyon Parkway, the commercial pad between Dixie Drive and Pioneer Parkway will finally see development. Harts convenience stores has acquired a 1.67 acre parcel on the corner of Snow Canyon Parkway and Dixie Drive. They anticipate starting construction in the next 12 months on a beautiful new Harts convenience store branded Phillips 66 that is designed to fit the landscaping and architectural themes consistent with the residential and community development on Snow Canyon Parkway. Representatives of Harts have already seen excitement as individuals who learned about the project commented that a store in that location is badly needed.

Dave and John Jardine, co CEOs for Harts said “Our family has had a home in Entrada for many years. We have been looking for the perfect location on the west side of St. George for a long time. We are really excited for this new site in Southern Utah”. Both Harts and the Seller were represented by Neil Walter at NAI Excel.

Harts currently operates 9 convenience stores in Utah, including a store at Exit 10 in Washington. For more information about Harts, visit their website at www.hartsgasandfood.com.

Local Landlord contacted Wes Davis of NAI Excel to help lease a unit that would soon be vacating.  Wes took this assignment and had the space leased within 30 days and prior to the existing Tenant vacating.  The Landlord was ecstatic especially given the fact that there were other vacant spaces in the complex on the market for lease.  476 E Riverside is a multi-tenant condo complex with a mix of office, retail, and warehouse, the new tenant will offer martial arts with a strong focus on core discipline values.  Doors will open in the next 30 days and enrollment is open.

Wes Davis, MBA

The President of Patriot Mortgage, Russ Brown, merges with like-minded mortgage entrepreneur, Chet Wall, to create a dynamic mortgage division that will continue to service Southern Utah homeowner owners, in addition to providing mortgage services to clients throughout the country.

The merger will allow the Patriot Mortgage team to expand their funding capabilities, and bring on underwriting and full mortgage banking to their new corporate office, located at 619 S Bluff Street, in St. George, UT. Russ and Chet have been able to collaborate utilizing their experience in the industry, to build out a new state of the art mortgage office that will create a comfortable and efficient work environment for their employees, and provide the most up to date technology to assist their clientele.

Brandon Vandermyde and Wes Davis of NAI Excel assisted Patriot Mortgage in the selling its former corporate office, a 13,000 s.f. building off of Riverside Drive in St. George.

Wes Davis, MBA

Brandon Vandermyde