Detroit Tops List of Most Affordable U.S. Cities for Middle-Class

Redfin | August 21, 2019

Detroit Tops List of Most Affordable U.S. Cities for Middle-Class
According to a new report from Redfin, a typical family in the San Francisco area would need to nearly triple their annual income to comfortably purchase a median-priced home. In stark contrast, the typical family in Detroit earns more than twice as much as they'd need to afford a median-priced home. In San Francisco, ranked least affordable, the median household income of $92,714 falls far short of the $265,000 per year needed to afford a median-priced home, which clocks in at $1.42 million.

Spotlight

Real estate is the foundation of wealth building for the middle class and a critical link in the flow of goods, services and income for millions of Americans. Accounting for 19 percent of the GDP, real estate is clearly a major driver of the U.S. economy.

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REAL ESTATE TECHNOLOGY

George Slusser, head of the WAV Group's New Real Estate M&A Advisory Division

prnewswire | January 14, 2021

George Slusser, one of the land business' generally capable and notable valuation specialists, will join WAV Group to head its new Mergers and Acquisition Advisory Division, land's driving counseling and examination firm reported today. As the most up to date individual from the WAV group, Slusser brings over 35 years of involvement, remembering individual investment for more than 300 land business consolidations and acquisitions on both the procuring and selling side including many financier organization valuations. "George literally wrote the book on real estate M&As," WAV Group Managing Partner Victor Lund said. Slusser authored the industry best-selling book, Acquiring Profit, which created the foundation for today's modern M&A industry for U.S. real estate brokerages. "We can honestly say that no one will offer brokers better M&A advice than WAV Group with George on board." Lund clarified that at Cendant, Slusser helped led the significant acquisitions that made what is currently Realogy, the world's biggest land organization. Slusser most as of late was the previous COO and Chief Growth Officer of SVN International (earlier Sperry Van Ness), and past President and COO of Coldwell Banker Commercial Real Estate. He likewise was a top leader at GMAC Home Services, ERA Franchise Systems, and Merrill Lynch Realty. "No one has more experience helping real estate brokers navigate the challenges of preparing a succession plan and the right exit strategy than George," added Marilyn Wilson, WAV Group Managing Partner. "WAV Group already assists organizations to increase the value of their companies with the services we provide in technology, recruiting, retention and organizational excellence. Once an acquisition is complete, WAV Group supports brokerages with overhauling branding strategies, technology and data services creating operational and organizational efficiencies. WAV Group Communications is there to help the newly formed organization communicate the vision and strengths of the new entity to expand the brand strength as well as helping to retain agents and clients by minimizing disruptions. With our new M&A division, we now provide an end-to-end service to help our clients maximize the growth and profitability of their businesses­­­," she added. For Slusser, heading up the WAV Group's new M&A Advisory division allows him to "fill an unmet need for broker-owners." "There's an absence of firms offering brokers comprehensive M&A advice," Slusser said. "In the next three years, we expect the record consolidation we have already seen in the real estate brokerage industry to continue. As the ownership in our industry continues to age, the transfer to the next generation is underway. Broker-owners want - and need - guidance. We specialize in helping them understand the value of their company, create succession planning, explore partnership structures, help them raise capital, and most importantly, provide strategic support for each of these processes. And with M&As, both the selling side and acquiring side benefits from independent representation." At WAV Group, the M&A Advisory Division offers a far reaching scope of value and moderate administrations for customers, conveying "unparalleled skill." Slusser will head a group that has partaken in more than 600 acquisitions and consolidations with buy costs adding up to $1.1 billion. With a consolidated 55 years of M&A experience explicit to the land business, the Division can deal with a wide scope of arrangements, going from little consolidations or association purchase outs to the biggest, most complex industry exchanges. M&A Advisory administrations are accessible to land business organizations, both private and business, property the executives firms, innovation suppliers serving the land business, and start-up or beginning phase financier and specialist co-op organizations. "Our experience in being owner/operators, as well as senior executives with multiple top brands, allows us to bring a unique perspective unmatched by other advisory services. Our practical knowledge allows us not only to help properly value your firm, but we deeply understand that the most important assets of your organization are your reputation and people," Slusser said. About WAV Group WAV Group is real estate's leading consulting and research firm, offering a depth of experience in technology, strategic planning, research, business development, Mergers & Acquisition and valuation advisory, content creation, public relations, sales, product development and marketing in the real estate industry. Clients include some of the largest MLSs in North America, international real estate franchise organizations, large independent brokerages, technology companies, and trade associations. WAV Group partners have been CEOs, executive team members, or founders of Fortune 100 and venture-funded corporations and approach each relationship with a clear understanding of the challenges that face each client's businesses today.

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BUYING/SELLING

AF Spaces Partners With Bedrock, Welcomes Notable Real Estate Company To Retail Platform

Bedrock | October 05, 2021

AF Spaces, the retail platform directly connecting commercial landlords and retailers to arrange pop up storefronts, announces a partnership with Bedrock. Through the collaboration, AF Spaces will add over 32,000 square feet of downtown Cleveland real estate to its platform within the iconic Tower City Center. Acquired by Bedrock in 2016, Tower City Center is Cleveland's iconic hub for shopping, dining, and entertainment. AF will connect its nationwide network of brands to available retail storefronts for immediate short-term pop-up shop opportunities, as part of Bedrock's plan to reimagine the Center as a destination marketplace. Tower City Center also features a mix of commercial office tenants with direct access to the Greater Cleveland Regional Transit Authority and Public Square. As an anchor of downtown Cleveland, Tower City is adjacent to landmarks such as The Ritz Carlton and the Terminal Tower. We are thrilled to welcome Bedrock to our growing list of world class landlords on the AF SPACES platform. We're honored that they've reached out to us to leverage our platform and nationwide network of innovative and emerging brands. For the first time at Tower City, brands will be able to efficiently and seamlessly 'test drive' their own Cleveland storefront. At the same time, local residents will have the opportunity to engage with their favorite brands face-to-face. - AF Spaces CEO and Founder of AF, Mark Bollman. AF SPACES is a natural extension of American Field, a brand discovery marketplace, whose mission is to provide opportunities for brands to grow. AF Spaces has built a curated network of 2,500 brands including Fatherty, Topo Designs, Shcott NYC, and Ball and Buck alongside a nationwide network of landlord partners. The platform affords brands the ability to test drive storefronts through streamlined short-term agreements with leading landlords. These activations bring fresh traffic to dark spaces while landlords secure traditional long-term tenants. ABOUT AF Founded in 2012 by Mark Bollman, AF's mission is to connect innovative brands with consumers and reimagine retail. Their self-fulfilling ecosystem of consumers, brands, and retail spaces is paving the way for the future of brand commerce.

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MARKET OUTLOOK

Savills and SRS Real Estate Partners Form Strategic Alliance

SRS Real Estate Partners | November 30, 2021

Savills today announced that it formed a strategic alliance with SRS Real Estate Partners (SRS), supplementing its existing North American retail capabilities and enhancing its ability to provide seamless, high-caliber advisory services to retail occupiers, investors and owners worldwide. "The United States is one of the biggest retail markets globally with estimated retail sales expected to total nearly $4.5 trillion in 2021, making the US a key target for expanding international brands, We already have one of the strongest retail teams in Canada. Aligning with SRS, a widely respected and accomplished national retail advisory firm, deepens our capacity for solving clients' real estate challenges and cultivating a formidable global retail presence in the US also." - Mitchell E. Rudin, Savills North America chairman and CEO With more than 300 professionals across 27 offices, SRS is the largest real estate firm in North America dedicated solely to servicing retail clients. In the last 12 months, SRS has represented over 1,100 clients and completed more than $4.5 billion in transactions while currently representing more than 1,700 property listings. The firm's US client experience includes representing 83 of the top 100 restaurant chains, 74 of the top 100 retailers, and 49 of the top 100 retail owners. "We are excited to strengthen our alliance with Savills – a globally-respected real estate advisor, This alliance is the latest example of SRS evolving to meet growing client needs. For our clients whose needs extend beyond retail and outside of the US, this is big news. We've taken meaningful steps to ensure consistent delivery of service across both firms so that you have a strategic partner you can trust for all of your real estate needs." - Chris Maguire, CEO and chairman of the board for SRS. Globally, Savills has positioned itself as a leader in the retail sector. In the last 12 months alone, the Savills Prime Global Retail Team have been involved in some of the most high-profile flagship retail transactions internationally, including 711 Fifth Avenue New York, 777 Saint Catherine in Montreal, the renowned Topshop building on Oxford Street in London and 270 Orchard Road in Singapore. On the occupier side, the team is working with some of the most interesting and evolving brands in the retail sector, including the likes of Restoration Hardware, Ralph Lauren, JD Sports and Polestar. About Savills Inc. Savills helps organizations find the right solutions that ensure employee success. Sharply skilled and fiercely dedicated, the firm's integrated teams of consultants and brokers are experts in better real estate. With services in tenant representation, workforce and incentives strategy, workplace strategy and occupant experience, project management, and capital markets, Savills has elevated the potential of workplaces around the corner, and around the world, for 160 years and counting. About SRS SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 25 offices worldwide, SRS' strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry's most influential and respected leaders. Our success is measured in the achievement of our clients' objectives, satisfaction and trust.

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Spotlight

Real estate is the foundation of wealth building for the middle class and a critical link in the flow of goods, services and income for millions of Americans. Accounting for 19 percent of the GDP, real estate is clearly a major driver of the U.S. economy.