Finally Landing Some Big Fish Trouble Adapting to a New
Total Page：16
File Type：pdf, Size：1020Kb
Y R ARA RS www.thebusinessjournal.com VE NI UPDATED DAILY ANNIVERSARAN thebusinessjournal.com DECEMBER 29, 2017 THE FOCUS | 8 Year in Review THE EXECUTIVE PROFILE | 9 A look back at 2017 THE LIST | 10 CONTRIBUTED BY NADER ASSEMI | The year’s most-expensive home, a Fresno Modern Real 5-bedroom mansion overlooking San Joaquin Country Club in Fresno, sold Estate tops the Most for $3.75 million — $725,000 more than last year’s top home. Expensive Home Sales THELIST list This Week Online 6 Year’s most expensive home Leads 13-14 Public Notices 15-21 offers breathtaking river view Opinion 22 David Castellon – STAFF WRITER NADER ASSEMI Though he has sold real estate for only a Granville Homes, most notably as the him listing a mansion in the bluffs above couple of years, Nader Assemi isn’t a novice marketing coordinator. the San Joaquin Country Club in northwest in the home industry. After taking a break from the family Fresno. Earlier this year, the property sold As a teen, he sold appliances, fireplaces, businesses to go to college, Assemi opted for $3.75 million, the highest price paid in all lighting and other home items at his not to go back to Granville and instead try 2017 for a single home in Fresno, Madera, father’s store, Central Distributing, in his hand at real estate, coming into the Kings or Tulare counties, according to The Fresno. As he got older, Assemi worked business with contacts from his old career. several jobs for his family’s other business, It was one of those contacts that lead to Home | 3 2017 YEAR IN REVIEW MANUFACTURING & DISTRIBUTION Retail Finally landing Trouble adapting some big fish to a new age Gabriel Dillard – MANAGING EDITOR Edward Smith – STAFF WRITER Perhaps the biggest story of 2017 when it comes to Central Valley In a year of record-breaking stock performance, a resurgence in economic development is the major e-commerce fulfillment center. real estate sales and values, the type of business seeming to have In the space of only a few months in the spring and summer, the most difficulty adapting to a new age is the standard retailer. Ulta Beauty and Amazon announced plans to open e-commerce Combined with record employment, consumer spending has fulfillment centers in Fresno, in an area near East and Central outpaced wage growth, according to a Dec. 22 article in Reuters, avenues that is quickly becoming a hotspot for new industry. indicating shoppers aren’t worried about savings, usually a good It was a major rebound for efforts to land these sort of heavy sign for retailers. employers. In 2016, Nordstrom backed off of plans to open a Though retailers are indeed registering record profits this holiday similar facility, with Fresno and Visalia competing to get hundreds season, the looming threat of online shopping continues to outweigh Manufacturing | 4 Retail | 5 FRIDAY, DECEMBER 29, 2017 ISSUE # 325331 | $1.25 PER COPY USPS 145-100 SENSITIVE PRIORITY HANDLING TIME PERIODICAL: 2 www.thebusinessjournal.com FRIDAY, DECEMBER 29, 2017 FRIDAY, DECEMBER 29, 2017 www.thebusinessjournal.com 3 Home | from 1 Business Journal’s annual list on page 10. “It’s probably one of the most exquisite properties I’ve seen in the Valley,” he said of the 11,681-square- foot, 5-bed, 8-bathroom home, which he described as a gated compound. “It’s a custom home really unlike any other, and I’ve seen a lot of homes in this area.” The home has a French provincial design in and out, and “There’s nothing standard about this house. Everything is ultra custom — lots of one-off components. This house is all about exclusivity,” Assemi said. If fact, there are so many unique features that what most struck him about the listing was all the new things he discovered on every visit, “Things you wouldn’t expect, like his-and-hers offices and a his-and-her gym.” At the center of the compound is what at first glance appears to be a working fountain — which it is — but it also converts to an exercise pool that generates a current to swim against for workouts, Assemi said. And as nice at the home is, any broker worth his salt knows location is vital, and Assemi said the three- quarter-acre parcel is on a prime spot, CONTRIBUTED BY NADER ASSEMI |The listing agent describes this home in Fresno as a “custom home really unlike any other.” It features a his- on a bluff overlooking the country and-hers gym and offices. club’s golf course with a view of the San Joaquin River just beyond that. finishes,” he explained, adding that, advantage of those views.” in its listing as an “entertainer’s The rear viewing deck over the bluff “When you spend a couple of million The house’s price topped last year’s dream” with meticulously maintained is designed to make the most of that dollars in our market, you’re paying highest home sale price in the region landscaping and interior extras that view, so at the right spot, “it literally for the views. by $725,000. include a private movie theater. feels like you are floating out over the “In the Fresno marketplace, this is This year’s second most-expensive At No. 3 on the list is a 6,000-square- golf course,” Assemi said. the closest to a coastal view as you’re home was 7,845 square feet, located foot home on 10 acres north of Clovis, “At that price point, that’s what going to get. Unobstructed views, and just blocks from the No. 1 home. people are after, not just pretty the whole place is designed to take It sold for $2.5 million, and is described Homes | 4 YOUR LOCAL PARTNER Helping promote successful business in the communities we serve! • Cash Management Products & Tools • Commercial and Agriculture Real Estate Loans • Business and Personal Interest Checking Accounts • Lines of Credit and Agriculture Production Lines of Credit • Loans up to $14 Million for Qualified Borrowers • Equipment, Construction and Development Loans Suncrest Bank is as local as you are. Our employees understand the unique needs of our local small businesses. Call us or stop by today to find out how we can help you grow your business. 663 W. NEES AVE., FRESNO • (559) 225-1700 www.suncrestbank.com 4 www.thebusinessjournal.com FRIDAY, DECEMBER 29, 2017 CONTRIBUTED BY NADER ASSEMI | At nearly 12,000 square-feet, the year’s top home features a French provincial design and a rear deck the listing agent said makes you feel like you are floating over a golf course. Home | from 3 west of Big Dry Creek. One of the distinct features of the property is that besides the home, it features a 6,800-square-foot showroom (with a gym and office) where the previous owner displayed his collection of 1950s-era gas station memorabilia. “All this on 10 acres, which is unheard of in this area,” said Ronny Silva, the listing agent. Both he and Assemi said 2017 was a good year for brokers in the high-end luxury home market, as inventory was higher than in recent years, as was demand. “We saw steam pick up in 2016, and this year it didn’t stop,” while values on the highest-end homes grew at a rate higher than in the lower-end market, Silva said. The rising values likely spurred some owners who have been waiting for better prices to put their homes on the market, which is elevating the high-end inventory, Assemi said, adding that many of those sellers are looking to downsize. Also helping is growing confidence in the economy, with Silva noting that “One savvy investor said this will be one of the best years ever for everyone in 2018 due to tax changes.” David Castellon | Reporter can be reached at: 490-3464 or e-mail [email protected] All Prospects Lie, All the Time - Sandler Rule #37 DAVID CASTELLON | The new Amazon e-commerce fulfillment center in Fresno is currently Lying is the oldest defense mechanism in the book under construction, and will eventually span more than 800,000 square feet. when it comes to sales. People lie to get out of forced Manufacturing | from 1 conversations and they lie to avoid salespeople altogether. of new jobs. Today, Ulta Beauty and Amazon are working to complete more than 1.5 million So how do you work with a potential situation where square feet of combined e-commerce space that could eventually house more what they've told you is a lie? Be curious... implement a than 2,000 workers. strategy of asking a series of relevant questions in an A longtime Fresno business, Valley Wide Beverage, is also completing a facility unthreatening, inquisitive manner. The truth will come near Ulta and Amazon that will nearly double its existing space. When it comes to high-tech manufacturing, Los Angeles electric car startup out sooner than you think. Faraday Future turned a lot of heads when it announced in August plans to open a new manufacturing plant in Hanford in the former Pirelli tire plant. As many as 1,300 jobs could be created at the facility. It’s also expected to open up millions of dollars of potential supply contracts for local firms. Despite the green startup’s well-reported financial and internal staffing problems, local economic development officials are confident Faraday’s plans to open by the end of 2018 will come to fruition. On another green front, recreational cannabis — passed by California voters in 2016 — is expected to generate new industry in the local municipalities that are rolling out the red carpet.