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R.A. Smith National, Inc. Knowledge Blog

R.A. Smith National Attends, Sponsors Brookfield Showcase

by Justin Schueler 7. October 2016 08:17

The Wisconsin chapter of NAIOP, the Commercial Real Estate Development Association, held a municipal showcase featuring the City of Brookfield. It’s quite the exciting time in Brookfield because the city is growing. What better way to learn about current and future developments than by taking a tour? R.A. Smith National’s Justin Schueler, P.E., traffic engineer, and Steve Miazga, P.E., business development manager, participated in the event. R.A. Smith National was pleased to be a gold sponsor of the October 6, 2016, municipal showcase event.

Justin praised the event and shared the following:

The Municipal Showcase started at the Brookfield Embassy Suites by Hilton, where Steve Ponto, the mayor of Brookfield, provided an overview of the many active and planned construction projects in the city (many of which R.A. Smith National has been involved with, including Portillo’s and The Reserve at Brookfield apartments to name a couple), and then we took a bus tour of three sites:

1. Brookfield Square Mall: The general manager of the mall presented on active and proposed improvements, including a new Chick-fil-A restaurant replacing the Associated Bank and new restaurant/retail uses planned around the outside of the exiting Boston Store.  Chick-fil-A’s opening of the 124th Street location in Brookfield was its largest in company history, which factored into them considering the second site in Brookfield. 

2. The Corridor: A mixed-use development on the former Ruby Farms site. Retail development is planned to the north along Bluemound Road and is anchored by Dick’s Sporting Goods and is home of the first Wisconsin Portillo’s (which was the company’s third-largest opening in its history). Free samples of their world-famous chocolate cake shakes were provided. The Corridor has a flex area in the middle for hotel/medical/fitness/retail development. Three large office buildings or corporate headquarters are planned to the south along I-94. 

3. The Corners: A mixed-use retail/residential “lifestyle” development. It includes the first Wisconsin Von Maur department store, planned grocery, retail and 244 apartment units. Enough concrete was used on the site to build a 46-story high-rise building. The site features an outdoor shopping setting (similar to Bayshore Town Center in Glendale, Wis., but about one-half the size). 

The event ended with a cocktail happy hour with appetizers back at the Embassy Suites by Hilton.  The developments are expected to generate thousands of new jobs and further entrench Bluemound Road as a premier commercial corridor.

In the photo immediately below: Renderings and site maps of the city’s growth.
In the photo further below: Learning more about The Corridor.

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General | Land Development | Municipal

A New Twist on Property Condition Assessments

by Chuck Stevens 29. April 2014 05:40

One of the turns from the recession has been a renewed emphasis on repurposing existing buildings. 

In the healthcare field, there is a particular emphasis due to the Affordable Care Act, which through new reimbursement models, drives services to be centralized in an ambulatory care setting rather than in a traditional in-hospital format. According to the Geiger Gibson Program in Community Health Policy at George Washington University, Washington, D.C., the number of patients served by smaller community health centers will nearly double those served in 2009 – climbing to 33.8 million by 2015. And the Urban Land Institute estimates that the 32 million people anticipated to be ultimately insured under the ACA will translate into a need for an additional 64 million square feet of medical space.  

The result is a trend in siting community-based medical office buildings in a hub and spoke type of scenario off the hospital campus. The trend also sets up a new twist on property condition assessments, PCAs. 

Former retail, office or other space targeted by healthcare providers places importance on condition and suitability in unique ways – from structure to access. And lenders may, in fact, require documentation about the condition of that property being considered before they make a determination to move forward with financing of the transaction.

Through our experience on thousands of properties across the nation, we have recognized that due diligence on a property often means fragmented information and information gaps collected from numerous sources. Not an ideal situation for informed decisions. 

To provide buyers with cohesive information for more informed decisions, we have designed a single-source PCA to meet the precise needs or desires of a buyer. Fully tailored to a buyer’s needs and direction, the PCA is scalable from a basic quick-look investigation to a detailed assessment of all aspects of a site and building. If you are interested in finding out more, send us a note at chuck.stevens@rasmithnational.com

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Land Development

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