We did one of our property tour videos of the recently constructed Magnolia Business Park. Many of you may know Curt Marker who is the developer of this project, he is a great flex space entrepreneur and pilot, really cool fellow and built a beautiful park. He has already pre sold some of the business park. They did some real nice, small architecture items that you will see on the entry way of the spaces that give it a strong customer facing feel that businesses love. A really well done industrial park. https://youtu.be/63mC_aB3ysg?is=hIc1RAeSXoKkik_F

I am in the process of refinancing a 5 unit building and was caught off guard when I saw that the appraiser used a 9% Cap Rate. Be careful with your underwriting in this market. I would hate to see your deals go upside down. The appraisers and lenders see this shift first. Talk to them often.

For anyone looking to network with more flex space entrepenuers we are hosting another one of our famous Happy Hours / Networking events in Austin, TX on Nov 3 at the Speakeasy rooftop. If you have never been to one of our networking happy hours, I can tell you these are the best you will find, we always bring together the best flex space, investors, developers and entrepenurs to network and always put on a great event. Free to come but you have to register below: https://strategicconferencesevents.regfox.com/flx-blueprint?t=flexparks

Hi, I'm Phil Prounh with Kensington Vanguard National Title. I work with commercial real estate professionals, lenders, investors, and developers across the country, helping facilitate successful transactions through title, escrow and 1031 services. I'm passionate about building relationships, connecting people, and being a resource for the Small Bay Industrial community. Looking forward to getting to know everyone, sharing ideas, making valuable connections, and contributing wherever I can!

Got another great property tour while I was in Magnolia. If anyone knows Curt Marker, he is pretty popular on social media and a really cool individual. He built this park as condos, just completed and already moving units. They did a great job on mixing, brick with metal and stucco to give it a good drive up apeal. Hope you enjoy.