Gene Kansas visits Yellowstone National Park

A Visit To Yellowstone

The day started at 9:00ish at the “Eagle Bend” Ranch of Jennifer Moses and family in Livingston, Montana, on a hill overlooking the Yellowstone River. The ranch home is in a valley with the fast, muddy river bounding the western property line, with horse and cow pastures surrounding the other borders leading to slow-rising, green-meadowed mountains, some still snow-peaked. Megan and I borrowed Chuck Childers’, another guest staying for the week, Subaru station wagon and headed out toward town. This was the first time I had been in a station wagon since high school and our first time away from the rest of the group, creating both the sense of nostalgia and a much needed break from close quarters and odd personalities.

Livingston is actually North on Hwy 89, with the park being South. We had to fuel up on iced lattes from Jumping Trout Java, a cute coffee “hut” in a parking lot outside of a K-Mart-style store, so that we could make the trip without ripping each other’s heads off. I got an Everything bagel and downed the coffee quickly. Back on the road, I was hoping that the landscape would change drastically. Montana has been nice, but in my mind’s eye, I had imagined lush, hilly country with beautiful trout-filled rivers carving their way back and forth like a scene from A River Runs Through It. Where we were in Montana was wide and open and seemed like a great place if you were a cow.

My wishes were soon granted. We arrived at the Northwestern Gate of Yellowstone National Park (and the Roosevelt Tower) about 45 minutes – 1 hour after departing from the c-hut. We filled up for gas before entering the 2.2 million acres of National Park preserved in 1872, by mandate of Ulysses S. Grant. The foresight of anyone to save this land at a time when land was green, abundant and virtually undeveloped in this part of the world is genius and probably widely under-appreciated.

We were told that a full day in Yellowstone, named for its high cliffs of yellow, mineral rich rocks, takes about 8-10 hours. This is true. We did not want to rush. We headed South to Mammoth, which is about 3 miles in, and stopped at the general store for some quick tourist shopping and to pick up essentials like gum, Chex Mix ®, and Snapple. The park was regulated and patrolled by the U.S. Military for a period of about 30 years in the early days to stop poaching and trapping, and the architectural effect of that occupation is still seen today with public and private structures including homes for park rangers, a post office, and barrack-style buildings housing administrative personnel and paying visitors. Once outside of Mammoth, and heading South, the landscape changes (as it does throughout the day) drastically and the scene that I had been looking for was found.

Yellowstone is 95% in Wyoming, 3% in Montana, and 2% in Idaho. This was my first time in both MT and WY; we missed Idaho. The path we chose headed South to Norris, East to Canyon Village, South again to Fishing Village, West to W. Thumb, North to Madison and then to Norris, back to Canyon, North to Tower Fall and finally completing the “figure 8” journey through Roosevelt and on to Mammoth. Each town is 11-21 miles apart, so we drove approximately 185 miles. It was by far the most beautiful drive I’ve ever been on. It was also one of the funniest. Youth (a.k.a Megan) and I cracked each other up endlessly, varying our characters and impersonations almost as quickly as the landscape changed. From elderly woman, to young child, to New Orleans’ yat and so on. To an objective, outside observer the perception would surely have vacillated between deliriousness and insanity.

As for the non-human wildlife, the park is home to bears, bison, moose, elk, deer, wolves, eagles, and chipmunks to name a few. The first explorers must have been overwhelmed by the animals and the natural, surreal sites like boiling rivers, geysers, colorful pools, 1000’ high waterfalls, peaceful meadows, tremendous Lake Yellowstone, petrified trees, hills, valleys, big beautiful sky, open range, and dense forest. The water elements only make up 5% of the park, but help put perspective on the mountains and land. Some of the water is peaceful and pleasant, while other can scald a person to death in seconds. These geyser basins, while colorful and unique, were my least favorite site. A buffalo being only 8’ from the car got my attention, and the streams winding their way through the forests memorized me and stole my heart.

The grizzly bear we saw was probably 400 yards away, which was a distance that added enough to our comfort level. We had binoculars so we could watch from a safe vista. I was surprised to see a bear, as they are rare, but it was cool and joined by two cubs. We also got to see a huge bull elk standing in a river whose horns were so big it looked like it could topple over. Our favorite sighting was Alvin The Chipmunk. He must be fast, because we saw him over 50 times that day and throughout the park.

At about 6:30, we exited the park and I quickly entered a saloon. Downing my Moose Drool beer, I really felt happy. It was the day of a lifetime. I have wanted to see this country my whole life, and I was completely impressed, amazed and exhilarated. That’s Yellowstone, and now that’s a good thing.

Don't Distress

Distressed properties are the next bubble to burst. You read it here first.

Like other get-rich-quick booms of the past (see The Gold Rush of 1848, the Internet Boom & Bust of 1990's, and most recently the Mortgage Boom & Bust) that everyone flocks to, this too will go bust. The people who make the money are not the people hoping for gold, it's the guy repairing the wagon wheel, the web hosting company, and the closing attorneys (well, at least for a while there). Don't get fooled into thinking that you are going to make a ton of money just because you are buying distressed. What you're really doing is buying stress.

Why? Because these properties are, for the most point, distressed for a reason. Distress is a bad thing. Maybe it's a bad location, a bad condition, a bad loan, a bad tenant, bad cash flow, or just a plain bad deal. Just because something is priced low does not mean it is a good deal. Of course, there are a few low-priced deals out there that do make sense. But, heading out West, so to speak, without the proper guide will just get you shot in the back with an arrow.

At Gene Kansas Commercial, we are going contrarian to the general public and the "gold diggers" and instead are focused on good, solid assets. We work on good properties, with good management, and in good locations. On top of them being better long-term investments, they're just more fun to be around. Of course, there are also fewer people trying to find and acquire good properties too...ever heard of supply & demand? Just sayin'.

The GK|CRE Process of "Concept" Marketing

In a time when retail opportunities saturate the market, when few tenants provide the creditworthiness a savvy owner requires, and with expansion moves limited, there exists a great need for creativity.  Times have changed, but the simple economics of supply and demand have not.  For retail leasing, you must differentiate your property from the competition. GK|CRE’s “Concept” Marketing, a leasing method that focuses on the “idea” to initially attract tenants to the space, creates an emotional bond to the real estate and results in a connection unattainable through traditional marketing.

Most real estate marketing uses a push method, sending out the message (mainly to agents) that a property is available through signage, Internet database listings, and cold calling.  “Concept” Marketing is pull marketing and is about ideas, relationships, and enticing the end user.  For “Concept” Marketing, the right concept is created, the right networking is utilized, and then the prospect tenant is introduced to the idea in an environment that is comfortable to them. 

The beauty of “Concept” Marketing is that even if the idea is not what the tenant ultimately desires, it gets their creative juices flowing and has them thinking about how their version of the idea (retail, restaurant, entertainment, arts, lifestyle, sports etc.) will work.  This sparks a subconscious connection to the real estate and begins an emotional interest that is significantly stronger than simply driving by a property and seeing a “For Lease” sign. 

That’s how we roll.

The Clermont Hotel Is For Sale (Blondie not included)

GK|CRE is selling The Clermont Hotel.

The Clermont Hotel is quite a colorful listing and we're proud to be marketing such a classic piece of Atlanta history.  I've been asked, "why are they selling this now?", eluding to the downturn in the economy as a valid reason for questioning the sale.  It's simple, if you want to sell something, and everything out there is seeing a decrease in value, pick a property that is extremely unique and you'll have a competitive advantage over the unknown and nondescript and in doing so command a premium price with less competition.  

To my knowledge, there are few properties in the entire city of Atlanta as unique as the Clermont.  Built in 1924, as an apartment building and then transformed into the Clermont Motor Lodge in 1940, the building has a rich history on fabled Ponce de Leon Avenue.  On top of tenure, the Clermont also has a killer location. Additionally, and most notoriously, it boasts home to the city's longest standing strip club, the Clermont Lounge.  The Lounge is a dive-bar where fan favorite Blondie will give you a lap dance, crush a beer can between her breasts and then give it to you as a souvenir...how's that for a hotel amenity?  For a buyer, getting something that no-one else can duplicate is worth the price of admission.  

  

To recap, we've got a great property with cachet, culture and character in a great location and it's for sale when the rest of the properties look like picked-over piles of old clothes.  So, for a good time and a great property, come check out the Clermont...personality it does have.

NPR interviews Gene Kansas regarding sale of the Clermont 

http://www.publicbroadcasting.net/wabe/news.newsmain?action=article&ARTICLE_ID=1497067

Future of Restaurants & Real Estate

I'm not telling anyone anything too new with this, but Planet Hollywood is over.  Seriously.  If we can thank the recession for one thing, it's for helping to create smaller, more intimate environments.  Operators need to keep overhead to a minimum and therefore spaces will be smaller.  At GK|CRE, we're all for it.

As someone who earns a living by making real estate commissions, and given that the size of a fee is directly proportionate to the size of a space (larger the space, larger the fee), I'm ironically and overwhelmingly supportive of smaller spaces.  Why would I directly support minimizing my own income?  Well, truth be told, I think that in the long run the smaller "jewell-box" spaces will be more successful and ultimately bring up the overall property value, so I'm not too worried about the business side of things.  On a personal note, it's simply nicer.

 A few of my favorite examples include Sotto Sotto in Atlanta, Blue Ribbon in NYC, Delachaise in New Orleans, Kevin Rathbun's Krog Bar, and ai3 gem Holman & Finch on Peachtree just to name just a few.  The spaces are great, the vibe is warm, the concept is cool.  Get with the program, y'all.  Support the small shop.  We'll all be better off.

Commercial Real Estate (with a twist).

When I started GK|CRE (www.genekansas.com) over 7 years ago, I did so with the goal of "not being confused with any other commercial real estate brokerage firm". I loved my time and the education I received while working at the big firms, and owe a lot to the goodwill, contacts, knowledge and know-how that resulted from that experience. That being said, Atlanta's commercial real estate brokerage industry is basically a good ole boy network of khaki and confabulation about birdies, basketball and bbq, and that is just not me. More than it not "being me", that's not the way the majority of the world works nor what they want.

We do not have to look very far to verify my intuition. Take President Obama's election as a prime and recent example. The country wanted change. We wanted a voice that represents a new America, one of consciousness, conscientiousness, hope, creativity and community. Whether or not you voted for him is irrelevant, the fact is that there are 70,000,000 people who believed that their voice was not being heard. The same goes for those looking for assistance with commercial real estate...they are not being represented with their mantras in mind.

My belief is that real estate is a non-factor without representing the voice of the people behind the property. What we want and need is to go beyond the fours walls of literal space. Beyond the break room at the office, the window of the storefront, the kitchen of the restaurant, the loading dock of the warehouse and the counter of the coffee shop. It's just as important to have a conference room and a place to put Accounting as it is to know that the property offers a recycling program. Making sure square footage is acceptable goes hand-in-hand with the accessibility to public transportation. The cost of rent is only a good deal if the space speaks to marketing message you are trying to achieve. Having natural light should be weighed equal to the address on the door. It's our perspective to and implementation of our priorities in the external world that creates the perfect space.

Sure there are people and companies that don't give a crap about any of this stuff. If you are one of those people or one of those companies, we are happy to put you in touch with a talented commercial agent who shares your perspective. However, if you do care about light and the proximity of a good burger and positive energy and the environment and how a space matches your image and identity, we'd love to help.