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A chat with commercial real estate broker Phil Mahoney

Sat, 27 Apr 2013 05:52:42 +0000

When a megadeal lands in Silicon Valley, there’s a decent chance veteran Bay Area commercial real estate broker Phil Mahoney had a hand in making it happen.

Google’s 715,000-square-foot lease in Sunnyvale. The 600,000-square-foot campus for LinkedIn in Sunnyvale. A Sunnyvale lease for 600,000 square feet for a new campus to be occupied by Amazon unit Lab 126. The just-concluded 100,000-square-foot deal for Softbank affiliate Starburst in San Carlos. Mahoney, an executive vice president with the Santa Clara office of Cornish Carey Commercial Newmark Knight Frank, helped guide all of these to a successful conclusion.

Each year, Mahoney kicks off the Cornish Carey annual forecast for the commercial property sector in the South Bay. This newspaper recently spoke with him about his outlook for the Silicon Valley commercial property sector. Mahoney’s comments have been edited for length and clarity.

Q How do you see the Silicon Valley market in 2013?

A There is no way that 2013 will repeat what occurred in 2011 and 2012. Those were incredible years, and there was so much space leased that it was not sustainable. We never expected that this year would be like either of those years. The market is taking a bit of a breather in that tenants have absorbed millions of square feet. Much of that square footage that was leased the last year is now being retrofitted for occupancy.

Q How long might this breather

last?

A We see 2014 returning to a very strong leasing mode when companies have digested what they took in in 2011 and 2012. Late 2013 and into 2014 should be very good.

Q What is driving the leasing?

A This is all underpinned by a strong economy, a good tech economy. The economy is strong enough to withstand problems, whether they be things such as North Korea or budget sequestration.

Q Is it helpful that there is a breather?

A If you are a property owner with a big empty building, now is not a good time to take a breather. But it is healthy in that it gives transportation infrastructure time to catch up to all the leasing that has occurred. And if you get into an overheated situation, you can get an overbuilt market, which isn’t good.

Q San Francisco’s mayor has said his city is the innovation capital of the world, which suggests San Francisco overshadows Silicon Valley. Is that assessment on target, or off target?

A I’d say the reports of San Francisco becoming the new Silicon Valley are overdone. Quietly, some of the larger tech companies are starting to push back a little bit on the whole San Francisco scene. There is a little bit of a wait and see about how it all works out. Some of companies have deferred major expansions in San Francisco and are doing it in the Santa Clara Valley proper instead.

Q Is the current surge in tech leasing like the dot-com boom that became a bubble, or is this the real deal?

A There is no comparison. This time there are no Pets.com, no Webvan. There is very little fluff we can see. These are real companies with real revenues and real profits. They don’t just depend on eyeballs looking at their websites.

Q How strong is the current crop of tenants?

A Never in my 30 years have I seen this number of creditworthy tenants in the market. Amazon, Google, Apple, LinkedIn, Facebook, Microsoft, Juniper, these are strong multibillion-dollar companies with healthy balance sheets.

Q This tech boom looks to be here for a while?

A This definitely has legs. We are probably in the middle innings of a recovery in Silicon Valley.

Contact George Avalos at 408-373-3556 or 925-977-8477. Follow him at Twitter.com/george_avalos.

Phil Mahoney
Age: 53
Birthplace: Cambridge, Mass.
Company: Cornish Carey Newmark Knight Frank
Position: Executive vice president
Residence: Los Altos Hills

Five things about Phil Mahoney
He was a lifeguard on Cape Cod while in college.
He is a former college football player, a starting defensive end with Stanford University and a teammate of NFL Hall of Fame quarterback John Elway.
He has lived in England, in a small town on the Thames River as part of a Stanford overseas program.
He once skied in Scotland.
When he began his current career, he had three jobs: commercial real estate broker, a mover for a moving company, and a bouncer at a Palo Alto night club

Article source: http://www.insidebayarea.com/breaking-news/ci_23115274/chat-commercial-real-estate-broker-phil-mahoney

SF Real Estate Value Grows by $6 Billion

Thu, 26 Jul 2012 23:07:08 +0000

It’s a great Recession to be a property owner. For now at least.

Copyright NBC Owned Television Stations

Article source: http://www.nbcbayarea.com/news/local/San-Francisco-Real-Estate-Value-Grows-by-6-Billion-163918026.html

Bay Area Property Management Company, Stokley Properties Inc., Offers Tips to …

Fri, 30 Mar 2012 17:04:13 +0000

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To be competitive and get the maximum dollar, your property must be turnkey and ready to go.

Walnut Creek, CA (PRWEB) March 30, 2012

Stokley Properties Inc., a Bay Area property management group that serves the Concord, San Ramon, Oakland, Brentwood, Martinez and Bay areas, is offering important tips for real estate owners who are searching to rent or sell properties.

“We believe that providing true service in real estate, as well as a clean and functional property will make all the difference in how quickly people may rent it and for how much money a month real estate will be able to receive,” Joseph Stokley Jr. of Stokley Properties said.

This has always been the case for as long as Stokley Properties Inc. has been in business but is perhaps more important today than ever before. The reason is because the market is so competitive in the current economic state, and people and business are looking at how to make the most for the least amount of expense. In this vein, Stokley Properties property management is currently offering the following tips for real estate owners:

1) Real estate owners must be prepared to do what must be done to offer a good, clean, competitively price product of the property.

2) Stokley Properties is not suggesting ripping out a 25-year-old kitchen and replacing it with a new $40,000 kitchen; however if the kitchen and the rest of the home could use new paint and carpets, or perhaps newer and cleaner appliances, these projects should be undertaken.

“The property owner should think about making that investment to maximize the amount of monthly rent they could collect and to rent the property sooner,” Stokley said.

3) Owners should spend no more than what they need, but just what should be done.

“To be competitive and get the maximum dollar, your property must be turnkey and ready to go. It must have fresh, new paint and flooring, if necessary to stand out from the crowd. If you do reinvest in your property by doing these things, your return on investment will be a better caliber of renter and receive a much higher rental amount,” Stokley said.

For more information about Stokley Properties Inc., call 925-658-1415, view the company on the web at http://www.stokleypropertieseastbay.net or visit 1630 North Main St., Suite 54, in Walnut Creek.

About Stokley Properties Inc.

The Walnut Creek company, Stokley Properties, provides complete property management services throughout the greater San Francisco East Bay Area, including Concord, San Ramon, the Bay Area, Brentwood, Martinez and Oakland. They provide professional real estate investment advice to enable clients to make well-informed decisions. Services include advertising and marketing, residential screening, leasing and retention management, property inspections and more.

Article source: http://www.prweb.com/releases/property-management/bay-area/prweb9348757.htm

Bay Area Property Management Company, Stokley Properties Announces that …

Sat, 24 Dec 2011 15:56:10 +0000

The rental home market in the Bay Area has experienced growth due to lackluster home sales and prices, according to an SF Chronicle article dated Dec. 15.

Walnut Creek, CA (PRWEB) December 23, 2011

Bay Area property management company, Stokley Properties Inc. works closely with the real estate community to help their clients make the decision of whether to turn a home into a rental income-producing property. Currently, Stokely Properties is noticing a boost in the Bay Area Rental Homes Market due to lackluster home sales.

“It is important for a property owner to be aware of what the real estate market is going through now so that they can make informed and sound decisions,” Joseph Stokley Jr. of Stokley Properties Inc. said

Homeowners who chose not to sell their properties at depressed prices are deciding to wait it out and turn their homes into rental properties.

“We are seeing this happening more every month. The property owners are taking advantage of a very strong rental market as well,” reported The Contra Costa Times in Oct. 20.

Rents are also climbing sharply in the East Bay as people who were once homeowners look for places to rent after losing their homes to foreclosure or not making their mortgage payments.

Contra Costa County has seen a 7 percent increase since last year and Alameda County has seen an 8.7 percent increase in rents.

For more information on the Bay Area property management company, Stokley Properties Inc., call 925-658-1415, view it on the web at www.stokleypropertieseastbay.net or visit 1630 North Main St., Suite 54, Walnut Creek, CA 94596.

About Stokley Properties Inc.

The Walnut Creek company, Stokley Properties, provides complete property management services throughout the greater San Francisco East Bay Area, including Concord, San Ramon, the Bay Area, Brentwood, Martinez and Oakland. They provide professional real estate investment advice to enable clients to make well-informed decisions. Services include advertising and marketing, residential screening, leasing and retention management, property inspections and more.

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For the original version on PRWeb visit: www.prweb.com/releases/prwebproperty-management/bay-area/prweb9062284.htm

Article source: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/12/23/prweb9062284.DTL

Bay Area Property Management, Stokley Properties, Announces Eviction …

Sat, 03 Sep 2011 21:54:00 +0000

Stokley Properties announces their “Eviction Protection Program” service.

Walnut Creek, CA (PRWEB) September 01, 2011

Stokley Properties a Bay Area property management company is announcing an Eviction Protection Program that is being offered to all of their clients throughout the San Francisco Bay Area, Concord, San Ramon, Brentwood, Martinez and Oakland. They are releasing this program now because of the rise in evictions and the company’s desire to offer a service to their loyal clients.

“This is important because the number of evictions is up due to the current poor economic times we are experiencing. The concerns landlords have these days is how much will evictions cost and how long will they take. Our program takes the worry out of that,” said Joseph Stokley Jr. of Stokley Properties.

People know evictions can happen to any landlord no matter how well the tenant is screened. Circumstances change in people’s lives and sometimes they are not able to pay the rent. This is especially true when people lose their jobs, get a divorce or suffer a serious injury. When they aren’t able to pay the rent they can also find it difficult to find the money to move. When this happens the property owner has to go through a costly procedure of evicting the tenant.

Each month there are thousands of evictions filed in the area and with the real unemployment rate at 16.4 percent there are a lot of people on the edge of being evicted. According to the Contra Costa Times, there has been a 46 percent increase in evictions cases handled by the Bay Area Legal Aid of Oakland in 2009 and 2010.

The Bay Area’s Stokley Properties, serving Concord, San Ramon, Brentwood, Martinez and Oakland, is offering the eviction protection program to clients for the small fee of $10 per month for each unit. This program will cover the cost of all non-jury trial evictions.

“We pay for everything from beginning to end. The landlord will be covered,” Joseph Stokley added.

Stokley Properties believes that this will be a well-received service by their clients during these turbulent economic times being a landlord.

For more information about the company, please visit their website www.stokleypropertieseastbay.net/ to learn more about the announcement. Interested parties may also call them at (925) 658-1415 for any inquiries.

About Stokley Properties

Stokley Properties, Inc. is a licensed Property Management Company and California Real Estate Brokerage Firm. We provide property management services in Contra Costa and Alameda Counties in the San Francisco East Bay Area.

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For the original version on PRWeb visit: www.prweb.com/releases/prwebproperty-management/bay-area/prweb8766112.htm

Article source: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/09/01/prweb8766112.DTL

Bay Area Fast Forward Property Management Offers Three Tips on Improving …

Thu, 28 Apr 2011 10:09:04 +0000

Fast Forward Property Management, located in the San Francisco Bay Area, is offering three tips to property owners on how to fill vacancies.

“Owners and property managers invest a great deal of time and money to attract and maintain high-quality residents,” said Jade Powell of Fast Forward Property Management. “High vacancy rates can quickly turn a highly profitable investment property into a money-losing liability. When a tenant leaves, you lose money by not being able to collect rent and can spend a considerable amount of time and money painting, repairing, cleaning, and advertising your unit.”

Fast Forward Property Management offers expert advice for those in the Bay Area, Sonoma County, San Francisco, Sacramento, San Jose, and Santa Rosa looking to fill their vacancy with a new tenant.

The following three tips should be considered by property owners:

First, place banners and signs around the property and launch ad campaigns online and with other media outlets.

Second, work with real estate sales professionals to develop referrals. Real estate sales professionals are a great source because many people go to them for listings, especially those new to the area, so it is wise to build a business relationship with them.

Finally, offer $150 to $250 to any tenant who refers someone that is approved for a lease. This provides motivation for current tenants to be on the lookout for new tenants, minimizing the amount of time and money spent by the property owner searching for someone to fill the vacancy.

These are great suggestions that every property owner should bear in mind to maintain successful rental properties.

For more information about property management, and all services provided by Fast Forward Property Management, visit them on the web at www.FastForwardPMBayArea.com or call them at (877) 388-0998.

About Fast Forward Property Management

Fast Forward Property Management is a property management firm in the San Francisco Bay Area that specializes in managing apartment buildings, HOA, and commercial properties. The staff at Fast Forward Property Management has over 40 years of experience in rental management. They offer the Greater Bay Area communities of Sacramento, San Francisco, San Jose, Santa Rosa, and Sonoma County property management services.

Filed under:

Real Estate , Fast Forward Property Management, BlockShopper BNR, San Francisco Bay Area

Article source: http://sf.blockshopper.com/news/story/243210-Bay_Area_Fast_Forward_Property_Management_Offers_Three_Tips_on_Improving_Vacancy_Rates

Bay Area Fast Forward Property Management Says the Secret to Success in …

Sat, 12 Mar 2011 01:19:49 +0000

Petaluma, CA (Vocus/PRWEB) March 10, 2011

Most property owners and managers wish they knew what was going on at their property at all hours of the day and night, but the reality is that they don’t. Some multi-family properties have issues with unauthorized dumping and trash disposal, vandalism, noise, domestic disputes, crime, burglary, drug dealing, and loitering. These problems can happen even in the best of locations. Even with video surveillance systems and paid security services, which can be very expensive, problems will still arise. Bay Area property management firm Fast Forward Property Management says that there is a free solution that can be very effective in monitoring property and reducing unwanted issues that come with managing real estate assets: building an informant network.

“Encouraging residents to report suspicious activities, as well as maintenance issues around the property and in their home, will allow you to effectively have informants working for you night and day around your property,” says Fast Forward, drawing from their wealth of experience with property management in Sacramento and the Bay Area. “Neighbors who live near the property are also often happy to help by calling a property owner when they see problems that may affect their neighborhood.”

Multi-family properties have eyes and ears everywhere, but many people are reluctant to call when they see problems. Some tenants have been unintentionally conditioned to not call the owner or manager with problems unless it is an absolute necessity. Many residents are worried that if they report something that needs repair, they will be pegged as a “troublemaker” and subject to retaliation like increased rent. Many have been conditioned to look the other way when they see suspicious activities.

It might sound like opening a can of worms to invite residents and neighbors to call with issues, but this is a chance worth taking. It can be refreshing to a resident to be encouraged to have contact with owners and managers. “The best way to proceed is to specifically select responsible residents who have had good tenure at the property, and personally invite them to keep you informed of any issues they see so that the property can continue to be a great place to live,” recommends Fast Forward Property Management of San Jose. Retired people or stay-at-home moms can be particularly valuable because they spend more time at home.

Many of the same tactics work with single family home rentals. Owners can canvass the neighborhood and meet neighbors to exchange phone numbers. When approaching neighbors in the surrounding community, Fast Forward encourages property owners to tell them, “I own (or manage) the apartments (near to where you live). May I give you my number in case you ever have any issues with our residents or see any suspicious activities? I am committed to doing my part to keeping this neighborhood a nice place to live.” Most people want to live in a good neighborhood and are happy to call a rental owner when they see a home that has an overgrown yard, abandoned vehicles, drug issues, too many residents living there, unauthorized animals, or a host of other issues.

The Santa Rosa property management experts at Fast Forward say that increasing the number of eyes and ears looking out for the property can be an asset. The great thing is that many people are eager to help, and it does not cost money. While it may be impossible to know everything that happens in every corner of a property at all times, having eyes on the inside will help reduce many of the problems that arise in the property management business.

For more information about building an informant network, property management, and other services provided by Fast Forward Property Management, visit them on the web at www.FastForwardPM.com or call them at (877) 388-0998.

About Fast Forward Property Management

Fast Forward Property Management is a property management firm in the San Francisco Bay Area that specializes in managing apartment buildings, HOA, and commercial properties. The staff at Fast Forward Property Management has over 40 years experience in rental management. They offer the Greater Bay Area communities of Sacramento, San Francisco, San Jose, Santa Rosa, and Sonoma County property management services.

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For the original version on PRWeb visit: www.prweb.com/releases/prwebSonoma-County/property-management/prweb8195350.htm

Article source: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/03/10/prweb8195350.DTL