My Business Logic

Christa Petti Joins Cushman Wakefield as Research Analyst By Betsy Kraat

EAST RUTHERFORD–Christa DiLalo Petti of East Brunswick has joined commercial real estate services firm Cushman Wakefield, Inc., as an analyst on its New Jersey Research team, announced Gualberto “Gil” Medina, the firm’s executive managing director.

Based in East Rutherford, the group conducts primary research, data-driven analysis and forecasting for the state’s Northern and Central counties, which house approximately 183 million square feet of office inventory and 608 million square feet of industrial space.

In her new position, Petti is focusing primarily on the office sector. Cushman Wakefield research is a well-respected source for commercial real estate data. The firm’s quarterly statistics are published in its award-winning MarketBeat, which profiles regional real estate trends and conditions.

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Market research is a very important step for all startups as, amongst other things, it helps you understand whether your offering is likely to generate demand. Once you have a clear sense of who your customers are, the following represent some additional things to think about:

• Where are these customers?
• How many customers are there?
• What do they require from your product or service?
• How you intend to reach them?

In looking to answer these questions focus on these overall understanding you are trying to develop with relation to your clientele and market:

• Understand where your customers are. If you are planning on opening a coffee shop in Dublin, it is important to recognize that the primary market you’ll serve will largely be a function of the footfall in that area. Giv

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There is a lot to be gained from business planning but many businesses will search for a million reasons to avoid it. However large or small your business is, planning for the future is critical to its success.

Apart from the obvious benefits of setting your stall out for the year ahead, creating an annual strategy will motivate, inspire and focus you on what needs to be done and when.

The Department of Trade and Industry estimates that at least 10,000 businesses fail in the UK each year and many are doomed due to poor planning. So what is the first step you need to take to ensure that your business does not become one of these statistics?

Plan Plan Plan!

When considering the content for your business plan, reflect on the following practical tips to ensure your business starts the year positively and achieves record results.

Be organised

If you have been in business for over a year, the first step is to review your performance of the previous years trading.

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The Bureau of Labor Statistics (BLS) reported that the Producer Price Index (PPI) for materials and components used in construction was unchanged in November after rising 0.3% in October. The index was up 3.8% on a year-over-year basis, but stood only a modest 1.9% higher than November 2008. An index that measures inputs used in nonresidential construction (excluding capital equipment) also was flat after falling 0.7% in October. However, it was up 7.0% from November 2010. Construction machinery prices fell 0.2% following no change in October. Nonetheless, they were up 4.4% from a year ago and 5.3% from November 2008.

Cement Cement prices rebounded 1.2% in November after falling 0.7% the previous month. Prices were essentially unchanged from a year ago (down 0.2%) and were down significantly (-9.5%) since November 2008.

Energy and Related Products Energy and related prices have been a bit jumbled of late.

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A business venture that started with an upscale restaurant and included event space in a large downtown building will come to a close next week.

Dan Borgert, a co-owner of 912 Regency Plaza, a St. Germain Street business directly across from the Paramount Theatre, said he has kept the building open long enough to satisfy commitments for weddings and other receptions in the wake of Mi Famiglia closing last fall. But the space is not viable without a restaurant, and he has decided to give up on the project that also recently has served as an art exhibit.

We gave it a try the last 12 months, but now Im ready to step away and give someone else a shot at it, said Borgert, who runs McDonald Property Management and BK Foley Land and Development. I think its the perfect space, but you need ownership in the building to run the restaurant and be on site to do it big if its going to be done.

The 44,000-square-foot space will be open for two more showings of the Rooftop Theatre Companys presentation of Scrooge in Rouge on Thursday and Friday nights.

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O’Neill Properties Develops The Point, A Luxury Retail Center By Betsy Kraat

SAYREVILLE–The Point, located just 30 miles from Manhattan and minutes away from Staten Island in Sayreville, will be Greater New Yorks next iconic luxury retail center. The 453-acre site lines three miles of highly visible waterfront and 24 lanes of highway, in one of the most densely populated and affluent areas of the country.

The 8 million-square-foot project is one of the largest mixed-use developments currently under construction in the United States. When completed, it will be one of the most significant properties ever built in the New York area, with more than 30 million visitors expected annually. The estimated development cost is approximately $2 billion for the project, which will generate thousands of new jobs and millions of dollars in tax revenue.

Developed by leading real estate company ONeill Properties Group, The Point is a pedestrian friendly community located along the Raritan River in New Jersey.

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