MONTGOMERY, AL | July 9, 2020 – Jim Wilson & Associates, LLC is excited to announce that New Park Development Company sold +/- 19 acres of vacant land located on the North side of Park Crossing, adjacent to New Park. The property is the first phase of a four (4) phase development. Phase one (1) will be developed as 55 residential homes. The terms of the sale are undisclosed. Lee Meriwether, with John Stanley and Associates, Inc. represented New Park Development in this transaction.
HUNTSVILLE, AL | April 20, 2020 – Construction is one activity that COVID-19 hasn’t stopped on Redstone Arsenal.
“We are full steam ahead,” said Glen Strobach of Directorate of Public Works. “In fact we’re pushing to get more road work completed while our traffic flow is light and the weather stays good.”
In addition to ongoing work at the new Redstone Gateway project, Strobach said crews have been working to complete new road construction leading to Gate 3, which is currently closed because of COVID-19. On Monday, April 6, he said paving was completed on the new intersection of the Haysland Road extension and Hobbs Road, which will offer another option for entering and exiting Gate 3 on Redstone Road north toward Grissom High School.
Economy. We have long accepted the fact that we have a “world” economy, where events on other continents will affect what happens in the United Sates and vice versa. But, there’s always been that lingering thought that distant continents, and their problems, are adequately repelled by that distance, giving our country insulation from them. Enter COVID-19, the Coronavirus, and the possibility of a health pandemic. What began in China has now affected the world. Precautions such as closing borders, closing businesses, restricting airline traffic, and closing schools, have taken a toll in China, and directly affected the rest of the world, and economic indicators are pointing to a turn-down in the economy. Some economists now believe the chances of a recession in the U.S. are at least 50-50 as the U.S. considers many of the same precautionary measures.
COLLIERVILLE, TN | January 31, 2020 – Carriage Crossing MarketPlace, on East Shelby Drive in Collierville, and its leasing and management company, Jim Wilson & Associates, LLC, announce the signing of a new lease at the MarketPlace – ACME Brick Company. ACME Brick Company is projected to open its showroom in April of this year. The 5,100 square foot showroom will make the brick selection process informative and enjoyable for prospective homebuyers and commercial customers.
On January 29, 1935, James W. Wilson, Jr. was born in Montgomery, Alabama and would have been 85 years old today. He is missed, yet remembered, by many. In 1975, he formed Jim Wilson & Associates and planted the seeds of sound business and excellent real estate development. Projects of Jim Wilson, too numerous to mention, are found throughout the Southeastern United States. As was his custom to close staff meetings with a special card evidencing a life quote, we close this short tribute with several of his favorites:
• Our greatest glory is not in never falling, but in rising every time we fall.
– Vince Lombardi
• Remembering where you’ve been is the key to getting where you want to go.
– John MacArthur
• Standing still is not an option.
• By failing to prepare you are preparing to fail.
– Ben Franklin
• Listen to counsel and receive instruction, that you may be wise in your latter days.
– Proverbs 19:20
Happy Birthday, Jim.
Economy. Even with the tariff issue and impeachment proceedings, the first 20 days of the 2020-year economy is off to a roaring start as the stock market indices show strong increases—the DOW (28,538 to 29,348), the NASDAQ (8972 to 9388) and the S&P 500 (3230 to 3329). In the first two weeks of 2020, an agreement with China was put in place and signed. This Phase 1 document has given lift to those U.S. companies and farms who are in constant trade with China. These measures should continue to provide for a positive broadening of the stock markets. The positive economy should translate into more dollars for the American consumers.
HENRY COUNTY, GA | January 21, 2020 – JWA Ventures, an affiliated company of Jim Wilson & Associates, LLC, is pleased to announce the groundbreaking for a new retail development, Shoppes at Ola Crossroads, a Publix anchored shopping center is located at the northeast quadrant of Highway 81 and N. Ola road, east of McDonough, Georgia in Henry County. The shopping center will include a Publix Super Market or approximately 48,000 square feet plus over 22,000 square feet of additional specialty store space and three, free standing stores along Highway 81.
As the new decade commences, the United States economy is solid thanks to new job creation, low interest rates (thank you Fed) and strong demand from the consumer. (Low unemployment translates to more dollars in the pockets of consumers yielding more robust purchasing power.) The recent holiday season sales were positive overall. Residential construction is improving. Demographics are changing and politics (unfortunately) will take center stage in 2020.
The changing demographics: The Boomers are continuing to enter the retirement world. As a group that fueled the rise of consumerism, the numbers are still great. Estimates are that over 70 million Boomers are retired or getting very close to retirement. That alone changes the income of many households. The Millennials, a rapidly growing segment of the U.S. population, have, on the surface, a different outlook of being more urban, less of a consumer, more into experience buying and certainly more digital. These two ends of the demographic spectrum, Boomers and Millennials, will find 2020 to be a conflicting year – think politics. However, the business world is forecast to keep moving ahead.
MONTGOMERY, AL | January 6, 2020 – Jim Wilson & Associates (JWA) is pleased to announce the promotion of Evan Conder to Vice President of Development beginning in 2020. Conder’s work has, since his arrival at JWA in 2015, focused upon new site selection, free-standing and multi-unit build-to-suits, new grocery anchored centers such as the Publix anchored centers under development in Macon, Georgia (Tobesofkee Crossing) and McDonough, Georgia (Shoppes at Ola Crossroads) as well as diverse multi-use sites across the Southeast. Since joining in 2015, Conder has been involved in total new construction of over $60 million.
Investments in real estate products are always in demand, some more so than others. Actual returns on the investments appear to be moderating though development activity remains strong within specific categories such as single use retail (i.e. restaurants, fast-food, service). Here’s a quick look at a few real estate categories:
Hotels. Drive the interstates and you’ll see new limited service hotels coming out of the ground everywhere. There are new names for Hilton and Marriott being pushed out, each with the ubiquitous 100 room, four story design package. Are there enough to meet demand? Rumors of revPAR slowing for national branches seem to support the idea that at least a slow-down in construction is on the horizon. Perhaps a factor is the room revenue in the over 7 million home rental listings of Airbnb.
Retail. The retail world is very segmented with each grappling with its own set of circumstances, both positive and negative.