Brian Gordon
Brian Gordon
Brian Ernest Gordonis an American professional baseball pitcher who is currently a free agent. He has played for the Texas Rangers and New York Yankees of Major League Baseball, as well as SK Wyverns and Samsung Lions of the Korea Baseball Organization in South Korea...
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Those projects with an extended sales period have higher development risks given the increased potential for rising construction costs. Those projects with experienced, well-financed development teams as well as strong locations and good branding are more likely to succeed.
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Stable demand and rising land values have placed upward pressure on pricing resulting in a 14.4 percent increase in average asking rates in only six months. With robust sales activity and mom-and-pop operators seeking expansion opportunities, we believe there is room for additional increases in newly constructed retail centers.
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It's a mature market area that hasn't seen a lot of new investment. The low vacancy rates are being driven by a lack of new inventory and relatively strong densities. As a result, new retail centers are performing well in the area.
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It's an experienced group, particularly in the gaming sector. They understand the market.
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Any time you talk about rising costs for certain necessities it is a cause for concern. It's particularly difficult for seniors who are on tight, fixed incomes.
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The lack of availability has the industrial sector experiencing a feverish pace of transactions, similar to the residential sector 18 months ago. We have seen the sale of selected industrial buildings achieve per-square-foot pricing witnessed in the office sector just one year ago.
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We simply cannot expect land prices to escalate at 80 percent per year while rents for office, retail and apartments are increasing in the 8 to 16 percent per year range.
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Wow, what a tremendous performance, particularly compared with the previous year,
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You cannot give good teams like Troy 26 or 27 outs. These guys are all hard workers. They all love the game.
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Through the first half of 2005, supply and demand has remained in relatively stable balance. However, compared to historical activity levels, the amount of space completed this year has been somewhat modest, but we expect the pace to quicken during the second half of this year.
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Visitor volumes continue to press forward, while consumer spending is holding its ground. We estimate spending on gaming, lodging, dining and retail items posted healthy gains ranging from high single-digits to low double-digits during the first quarter of 2006.
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Developing a critical mass at that site is paramount. The project is not going to capture foot traffic like we see in properties on or adjacent to the heart of the Las Vegas Strip.
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Only 35 to 40 percent of future projects are expected to move forward by 2010. There is insufficient market demand to absorb all of the units currently in the development pipeline.
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Plus, (MGM Mirage) is enjoying corporate efficiencies as part of the merger -- eliminating duplicate positions and integrating the different brands into the MGM (Mirage) operation.