Former Greyhound Bus Station Will Become New Retail Center

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Previously home to the City of Redding Greyhound Bus depot, 1321 Butte Street has had a long history in the Redding community for being the center of attention. With buses traveling in and out of downtown starting as far back as the 1940s, the station nally closed in 2010 and Greyhound moved to a smaller location approximately 3 blocks away. As a result, the property hit the market and was purchased by a local medical billing company. The owners of California Physicians Reimbursement, Inc. purchased the building in January of 2011 with the intent of joining the burgeoning downtown cultural scene and revitalization. Currently, a 25,232 square foot, two-story building has been designed for the site by architect Scott Gibson. While the rst -oor is available for lease, the second -oor is designed for the California Physicians Reimbursement, Inc. company, and will also feature two additional high-end apartments.

Dean and Jane White, the owners of the 1321 Butte Street Property, are excited to partner with the city in their e　ort to bring new businesses to the area. “We feel a strong sense of resonsibility to employees and the city to put in a building to compliment the changes that the city and business community are looking for.” Coupled with the retail experience of the architect Scott Gibson, and leasing experience of the Haedrich & Co., Inc. team, Dean and Jane are excited to discuss  leasing opportunities with all tenants. The building’s approximate completion date is scheduled for October.

About Haedrich & Co., Inc.:

Haedrich & Co., Inc. is a full-service commercial real estate firm established in 1985. As our primary mission, the firm seeks to professionally serve its clients in making well-educated decisions concerning the use, management and operation, acquisition or disposition of commercial real estate. The firm specializes in commercial property valuation, investment analysis, and market analysis for all sectors of commercial real estate. As well as providing skilled negotiation of sale and lease transactions, property management services, and escrow services.

For more information contact Chris Haedrich of Haedrich &Co., Inc.

530-221-1127

Chris@haedrich.com

www.haedrich.com

                                                 Press Release New Commercial Office Space being developed in Cobblestone Business Park Chris Corrigan recently completed first generation tenant improvements for Ball Jones Gans Gowen, Inc. and State Farm Insurance – Scott Shoffner despite the perception of an abundance of professional office space. Redding, CA April 11, 2013 – Haedrich & Co., Inc., a professional commercial real estate firm in Redding, California successfully facilitated the leasing of newly improved office space by Scott Shoffner from State Farm and Ball Jones Gans Gowen, Inc.  The landlord, Chris Corrigan, completed the first generation tenant improvements in the Cobblestone Business Park on Hartnell Avenue in Redding, CA.  Ball Jones Gans Gowen, Inc. a financial services firm affiliated with Raymond James has relocated from their previous Hilltop Drive location.  Geoff Ball, Managing Principal with Ball Jones Gans Gowen, Inc. said, “We engaged Haedrich & Company to relocate our business.  After an extensive area search we agreed with their analysis that is was more cost effective to do a new build out to meet our requirements.  They put together an excellent arrangement and worked with us from the initial letter of intent, with the planning and through to the final successful completion of the project.  Specifically, Ryan Haedrich did a truly commendable job addressing every detail in this process and making sure the nothing was dropped.  Their firm was outstanding in every phase of our project and made what would have been extremely difficult project doable and easy for us.” Ball Jones Gans Gowen, Inc. now occupies approximately 2,400 square feet and Scott Shoffner with State Farm occupies approximately 1,000 square feet of brand new space.  Haedrich & Co., Inc. will continue to market the remaining space that can be built out to a tenant’s specific requirements.  “There is a perception that there is a large amount of office space vacant in Redding”, said Ryan Haedrich, CCIM of Haedrich & Co., Inc. “However over the past three years tenants have upgraded their spaces usually leaving behind inferior space that few professionals want to occupy for their businesses.  Tenants are now realizing this and are willing to pay a rental rate commensurate with brand new space.” About Haedrich & Co., Inc.: Haedrich & Co., Inc. is a full-service commercial real estate firm established in 1985. As our primary mission, the firm seeks to professionally serve its clients in making well-educated decisions concerning the use, management and operation, acquisition or disposition of commercial real estate. The firm specializes in commercial property valuation, investment analysis, and market analysis for all sectors of commercial real estate. As well as providing skilled negotiation of sale and lease transactions, property management services, and escrow services. Contact Information: For more information contact Ryan Haedrich, CCIM of Haedrich &Co., Inc. 530-221-1127 www.haedrich.com
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                                                 Press Release

New Commercial Office Space being developed in Cobblestone Business Park

Chris Corrigan recently completed first generation tenant improvements for Ball Jones Gans Gowen, Inc. and State Farm Insurance – Scott Shoffner despite the perception of an abundance of professional office space.

Redding, CA April 11, 2013 – Haedrich & Co., Inc., a professional commercial real estate firm in Redding, California successfully facilitated the leasing of newly improved office space by Scott Shoffner from State Farm and Ball Jones Gans Gowen, Inc.  The landlord, Chris Corrigan, completed the first generation tenant improvements in the Cobblestone Business Park on Hartnell Avenue in Redding, CA. 

Ball Jones Gans Gowen, Inc. a financial services firm affiliated with Raymond James has relocated from their previous Hilltop Drive location.  Geoff Ball, Managing Principal with Ball Jones Gans Gowen, Inc. said, “We engaged Haedrich & Company to relocate our business.  After an extensive area search we agreed with their analysis that is was more cost effective to do a new build out to meet our requirements.  They put together an excellent arrangement and worked with us from the initial letter of intent, with the planning and through to the final successful completion of the project.  Specifically, Ryan Haedrich did a truly commendable job addressing every detail in this process and making sure the nothing was dropped.  Their firm was outstanding in every phase of our project and made what would have been extremely difficult project doable and easy for us.”

Ball Jones Gans Gowen, Inc. now occupies approximately 2,400 square feet and Scott Shoffner with State Farm occupies approximately 1,000 square feet of brand new space.  Haedrich & Co., Inc. will continue to market the remaining space that can be built out to a tenant’s specific requirements. 

“There is a perception that there is a large amount of office space vacant in Redding”, said Ryan Haedrich, CCIM of Haedrich & Co., Inc. “However over the past three years tenants have upgraded their spaces usually leaving behind inferior space that few professionals want to occupy for their businesses.  Tenants are now realizing this and are willing to pay a rental rate commensurate with brand new space.”

About Haedrich & Co., Inc.:

Haedrich & Co., Inc. is a full-service commercial real estate firm established in 1985. As our primary mission, the firm seeks to professionally serve its clients in making well-educated decisions concerning the use, management and operation, acquisition or disposition of commercial real estate. The firm specializes in commercial property valuation, investment analysis, and market analysis for all sectors of commercial real estate. As well as providing skilled negotiation of sale and lease transactions, property management services, and escrow services.

Contact Information:

For more information contact Ryan Haedrich, CCIM of Haedrich &Co., Inc.

530-221-1127

www.haedrich.com

Press Release - VisionCare Devices Incorporated Relocates to Anderson, CA

VisionCare Devices has relocated to a 13,000 square foot industrial building with improved clean room located in Anderson, CA from their previous location on Redwood Boulevard in Redding, CA.

 Anderson, CA February 18, 2013 – Haedrich & Co., Inc., a professional commercial real estate firm in Redding, California has completed the sale of the former Millipore industrial building in Anderson, CA for $550,000.  The Buyer, VisionCare Devices has improved the space and is currently operating out of the new facility. 

VisionCare has been designing and manufacturing medical devices of the highest quality for over 22 years.  They have relocated from their location at 1246 Redwood Boulevard in Redding, CA to 6100 Bellevue Lane in Anderson, CA.

“The building was improved for a similar company and provided VisionCare with the room to expand and grow in Anderson, CA”, said Ryan Haedrich, CCIM of Haedrich & Co., Inc. “This building was built for a specific use and fortunately for VisionCare there are only a few companies in Northern California that would even place value on the interior improvements such as the clean room, which is reflected in the price.”

About Haedrich & Co., Inc.:

Haedrich & Co., Inc. is a full-service commercial real estate firm established in 1985. As our primary mission, the firm seeks to professionally serve its clients in making well-educated decisions concerning the use, management and operation, acquisition or disposition of commercial real estate. The firm specializes in commercial property valuation, investment analysis, and market analysis for all sectors of commercial real estate. As well as providing skilled negotiation of sale and lease transactions, and escrow services.

Contact Information:

For more information contact Ryan Haedrich, CCIM of Haedrich &Co., Inc.

530-221-1127

www.haedrich.com

New West Medical Gives Redding a Breath of Fresh Air

Press Release:

(Redding, CA) Mar. 19, 2013 - Represented by Chris Haedrich of Haedrich & Co. Commercial Real Estate, New West Medical, Inc. just signed a new lease for the commercial retail space formerly occupied by “The Great Outdoors” located at 2971 Churn Creek Road in Redding, CA.  With over 9,300 square feet, New West Medical was attracted to the Churn Creek building because it offers the ability to incorporate a showroom to display their many sleep apnea products, oxygen breathing machines, power wheelchairs, and myriad other medical devices; in addition to giving them the space they need to grow their customer service department and onsite patient assessment and consultation areas.

            “We are excited for our new location and the convenience it will bring our customers,” said Tony Lewis and Steve Gavras, Co-Founders of New West Medical, “and to the Redding community for supporting us, purchasing local, and affording us the ability to grow our business and provide more jobs.”

             With a substantial remodel negotiated for New West, the space is not scheduled to be completed for another 4 to 5 months, before they’ll be ready to make the move to their new location.  Consequently, you can continue to find New West Medical in their current location at 9714 Tanqueray Ct. or online at www.newwestmedical.com.

About Haedrich & Co., Inc.:

Haedrich & Co., Inc. is a full-service commercial real estate firm established in 1985. As our primary mission, the firm seeks to professionally serve its clients in making well-educated decisions concerning the use, management and operation, acquisition or disposition of commercial real estate. The firm specializes in commercial property valuation, investment analysis, and market analysis for all sectors of commercial real estate. As well as providing skilled negotiation of sale and lease transactions, property management services, and escrow services.

Contact Information:

For more information contact Chris Haedrich of Haedrich &Co., Inc.

530-221-1127

Chris@haedrich.com

www.haedrich.com

What is Title and Escrow?

Whether you are purchasing your first or tenth home, or have entered into the realm of investment or commercial property purchase, this can be a nerve-racking time for you, the Buyer.  You have just come off of the roller coaster of making an Offer to purchase the property, waiting anxiously for the Seller’s response - and then decision time.  It is time for you to further counter to the Seller’s response, continue looking for other property to purchase, or to accept the Seller’s Offer.  At last!  You and the Seller have come to an agreement.

The next thing that happens is that your Realtor asks you to make a check payable to a title/escrow company.  “What is a title/escrow company?” you say to yourself, and why do I have to give them a check?  Well, the check is your earnest money deposit, which you agreed to deposit into escrow when the Offer (now referred to as the Purchase Agreement) was accepted.  The earnest money deposit is held in trust for you at the title/escrow company and will apply toward your down payment at the closing of escrow.  Having deposited the earnest money deposit into escrow gives the Seller a sense that you are serious about purchasing the property.  Under most circumstances, this earnest money deposit is refundable to the Buyer during the Buyer’s inspection period of the property, if the Buyer determines that the purchase of the property is not right for them because of issues that were uncovered during their inspection of the property, or other matters.  It is also typical that the earnest money deposit is refundable to the Buyer in the event the Buyer is unable to secure the financing that is provided for in the Purchase Agreement.

In answer to your question about “What is a title/escrow company?”, the answer is actually two-pronged.  A title company, also known as a title insurance company, insures your ownership in the property, much like the home and automobile insurance you purchased to insurance your home and automobile.  In the event you get in an automobile accident, you call your automobile insurance company to have them work with you to repair your car.  If your hot water heater dies right after you have left for work and you arrive home to a flooded house, you call your homeowners insurance company.  They will work with you to repair your home.  When you purchase real estate, it is typical for a Buyer to purchase a policy of title insurance.  This policy fee is paid only once, when you purchase the property and is good for the entire time you own the property.  You would only contact your title insurance company in the event someone is claiming an interest in your property, such as an adjacent property owner claiming that they own the back half of your property, or if someone sends you a letter or knocks on your door demanding money for payment of a lien or taxes that the former owner owed, or other such claims against your ownership of the property.  The chances of you needing to make a claim against your title insurance policy are very small.

An escrow company is typically related to a title insurance company, but is radically different in what they do.  An escrow company obtains a copy of the signed Purchase Agreement between the Buyer and Seller, then proceeds to prepare the Escrow Instructions that the Buyer and Seller will sign.  The Escrow Instructions are the final agreements between the parties and contains matters which may not have been mentioned in the Purchase Agreement, such as any last minute adjustments to the purchase price because of matters which may have been discovered by the Buyer during their investigation of the property.  The escrow company will have all of the Parties sign the documents and collects from the Buyer their funds to close escrow.  The escrow company has the Seller sign the Grant Deed, which (when recorded) will convey ownership of the property to the Buyer.  At the closing of escrow, the escrow company will have the title insurance company record the Grant Deed.  From the Seller’s funds, the escrow company will deduct any amounts to pay off any loans or liens which encumber the property, including property taxes, loans, liens and/or judgments, as well as commissions due the realtors.  It is the title insurance company’s and escrow company’s jobs to make sure that when the Grant Deed is recorded, there are no liens or loans recorded against the property that the Buyer has not previously approved of.

These processes sound simple enough, but in reality they are very complicated and technical.  It is always very important to use a title and escrow company when buying or selling real estate.  Failure to do so can cause a lot of trouble for the Buyer and Seller on down the road.

In my former life, I was an escrow officer for over 30 years and hold the Certified Escrow Officer (CEO) and Certified Senior Escrow Officer (CSEO) Professional Designations.  I am a member and past president of the North State Escrow Association, a member and past president of the California Escrow Association, a member of the American Escrow Association, and member and past president of the Exchange Club of Redding.

Written by:

Suzanne Tikker

Transaction Supervisor

Haedrich & Co., Inc.

Source: reddingcre.com

Potentially Endangered Species: Commercial Real Estate Appraisers

As I sit here in front of my computer attempting to draft my first Blog at the request of my tech savvy sons, it dawns on me that I should write something that may be beneficial to those who are considering a career in the real estate appraisal industry, which is where I got my start. As I do every year, last October I attended a continuing education seminar at Tahoe for appraisers’ intent on maintaining their certification in good standing. I have been in this industry for over 37 years and when I was in my late 20’s, I was one of the youngest attendees at most of my classes sponsored by the Appraisal Institute. Sadly, at this past October seminar, even though I am approaching 60, it was apparent that I was still one of the youngest attendees out of about 75 participants. This seems to be the trend these days, and unless something changes, the population of qualified appraisers will diminish rapidly.

It has been reported that more than half of appraisers in the US are between the age of 51 and 65. The population is decreasing at the rate of 3% per year. A major factor is the lack of qualified mentors or seasoned appraisers that are willing to spend the time and money to train individuals wishing to become a trainee and hopefully a certified appraiser. When I entered the practice, anyone could hang a “shingle” and call themselves an appraiser. Now with all of the necessary Federal regulations on quality control, strict guidelines have been set out regarding hours of experience and supervision that are required to become licensed with the state. Without a license, a successful practice is impractical.

Interestingly, while the number of appraisers is decreasing, the current number of licensed and certified appraisers is at an all-time high.  Even though the current number of licensed appraisers is high, the lack of career opportunities for trainees will hinder the ability for a large number of appraiser hopefuls to enter the industry and could have negative effects on our future supply of appraisers. Those who find a way in should be confronted with an over supply of job opportunities (once the experience is obtained) which will likely be enhanced in the coming years. Consequently, if one is so inclined to pursue a career in the appraisal of commercial real estate, the rewards should be well worth the effort.

Bill Haedrich

Redding Incubation Office Space

Season’s Greetings from Haedrich & Co!  We are wishing you a bright and successful 2013.

In the midst of all the holiday parties and local Redding cheer, Ryan and I were excited to be invited to the holiday mixer hosted by the Shasta EDC and Frank Consulting at the Frozen Gourmet building on Airport Road.  With great wine from the local Moseley Family Cellars, and great beer from the new Wild Card Brewery, the group of about 60 people really enjoyed themselves.  Not only was it a successful mixer with a very energetic crowd, but the hosts were very gracious and accommodating as they worked the rooms greeting all the guests.

But why is gathering important, especially for you?  There was a great commercial real estate opportunity presented at the end of the night. The grand finale, if you will.  An opportunity we want to make sure is available to all of you…

In an effort to encourage start-up businesses to open, grow, and flourish in the Redding area, not only have Frank Consulting and the Shasta EDC initiated a venture capital angel investment group, they have also identified an approximately 1,500 square foot office suite in the Frozen Gourmet building that has been designated “incubation space”.  This new national buzz phrase defines new commercial real estate suites that are typically made available completely free to the start-up business tenant for at least one year.  As with all great deals, there are limitations and disclaimers, but the space is available completely free for one full year to a start-up business, or existing business looking to grow.  So if you’re thinking about launching that big idea in 2013, or interested in taking the next step (or leap) in company growth, take some of the fear out of the process and consider this 1,500sf free incubation space, so you can focus on the things that keep your business moving.

Happy New Year!

Chris Haedrich