15 Years of Success

This year marks CSR‘s 15th birthday! That’s right, we’ve been around for, perhaps, longer than you’d think. While this year we celebrate success as a growing, healthy company in the heart of Silicon Valley, we couldn’t have made it this far without the progressive thinking, motivation, and family-like-culture that our Leadership Team, Staff, and Agents posses. So why is this such a big deal? Well, research supports the fact that nearly 50% of businesses fail within the first year of life, 73% within the first five years, and an astounding 96% within 10 years time. This alone makes us pretty proud to still be standing strong after year 15. 

In 2003, Bonafede brothers, Steve and Brian, decided to continue their real estate business with their own Silicon Valley flavor, along with close friend, Dave Wendt.  From the start,  it was all about family and building relationships.  The business consisted of the two brothers, their sister, Laura, and Brian’s wife, Dina Bonafede. From there, close friends joined in and provided lending services to start the company’s initial growth. Just a few short years later, in 2007, CSR grew to 50 agents and staff, despite the economic downturn. Through it’s many ups and downs, business stayed above water and the Bonafede brothers stepped up to the plate. They continued to educate veteran and new agents on how to best maneuver through the ever-changing market. Simultaneously, CSR’s Commercial Division was formed by close business partner, Tony Odom. Both businesses fought for success together and grinded it out through seemingly impossible times. While it seemed nobody could buy a house and businesses were closing left and right, somehow, CSR made it through to the light at the end of the tunnel.

2012 rolled around and the company was in need for a few adjustments in order to maintain growth among Silicon Valley’s vast technology boom. That year, Terry Meyer, VP of Operations & Broker Associate, joined the CSR family. With heavy knowledge and experience within the real estate arena, Terry was able to collaborate with the Bonafede brothers and act as the glue that held the expanding company together through recruiting, branding, and promoting a company culture of inclusiveness and education. The following year, in 2013, Duane Hood joined forces with the Commercial division, thus forming CSR Commercial Capital, which provides comprehensive financing solutions.

The next year, in 2014 CSR Cares was born. One of the guiding principles at CSR is that we support and ignite positive change in the community where we work and live. The foundation is a non-profit organization focused on supporting and benefiting children within our community. To this day, CSR Cares has raised over $1,000,000 in an effort to support the well-being of children and the community. 2016 came around and our agent pool grew to 70 agents and staff, and exceeded 100 agents the following year.

2017 was a big year for CSR. Not only did we expand to Roseville, CA, we also can check a successful business merge off the bucket list. In September 2017, Silicon Valley Associates (SVA) joined forces with CSR and appointed Don Jessup as Vice President. In the latest news, both CSR Residential and CSR Commercial divisions have been recognized by Silicon Valley Business Journal and named in the Top 10 Real Estate Firms in Silicon Valley. Here’s to 15 years of success and many, many more.

CSR Commercial Real Estate Welcomes Erika Cervantes

The Commercial division at CSR Real Estate Services welcomes Erika Cervantes to the team as Commercial Leasing & Sales Manager. Ms. Cervantes began her Commercial Real Estate career working directly for one of the largest individual commercial property owners in the Bay Area. Ms. Cervantes has dealt with all aspects of commercial leasing and property management for nearly a decade. From tenant management, building maintenance, leasing of retail, office & industrial property types, Erika demonstrates professional excellence throughout her career.

Being bilingual, Erika is able to connect with a larger audience and gain trust from the masses. Ms. Cervantes’ success lies within her philosophy, that if you take care of your clients, they will take care of you.

“Beyond Erika’s experience and skills, her will to go well above and beyond, and her driving force of doing what is in her clients’ best interest is why we knew we had to have her on our team” explains Jonathan Hanhan, CSR Commercial.

Ms. Cervantes is a strategic and key addition to support the growing Commercial team with Tony Odom and Jonathan Hanhan in the expansion and sustainability of quality care and service to their key clients. Her technical skill set, character and congruency with CSR’s culture, of doing what is best for clients, is what makes this career marriage the ideal match.

But wait, that’s not all; Erika also values community outreach and helping others in need which is a perfect parallel to CSR’s Charity, CSR Cares. For over 6 years, Erika has dedicated her time and efforts towards assisting the homeless and is on the Board of Directors for the Youth at Risk Organization.

Welcome to CSR, Erika!

Erika Cervantes

Commercial Leasing and Sales Manager

(c) 408.648.7514

(f) 408.559.5505

(o) 408.558.5000 Ext. 7351

Erika@CSRCommercial.com


 

 

CSR Commercial Capital Closes $17M Construction Loan

CSR Commercial Capital closed on a $17,000,000 construction loan for a 4 story mixed use podium build project located at 955 South First Street just south of downtown San Jose.  The project consists of 50 apartment units ranging from 1 to 3 bedrooms, along with five ground floor retail spaces totaling 5,136 s.f. Parking for the project consists of 74 residential spaces and 28 commercial spaces.  Tenants will also benefit from lush landscaping, a 452 s.f. children’s play area, and over 5,800 s.f. of courtyard space featuring barbecue and picnic areas.

The project was brought in to CSR Commercial Capital by the President of CSR’s commercial sales and leasing division, Tony Odom, who previously acquired the property for the client.

“The most challenging aspect of this transaction,” commented Duane Hood, President of CSR Commercial Capital, “was that we had an out of country borrower who, although he possesses permanent residency and extensive experience overseas, is not a U.S. citizen and has not previously developed in the U.S.  Aside from those regulatory challenges, however, we could not have asked for a better client. His responsiveness and decisiveness were instrumental in his ability to close this loan and move this exciting project toward completion.”

A representative for the buyer and partner in the ownership group commented, “In addition to just obtaining the land, CSR acted as a full service commercial real estate firm throughout this transaction, including interviewing the architects and general contractors and working with the city and title company to resolve issues. Moreover, CSR interviewed many qualified lenders, then brought us the most competitive commitments. We were able to select a lender which best suited our needs. We couldn’t be happier with the work the team at CSR has done.”

Learn more about what CSR Commercial & Commercial Capital can do for your business.

A Little Competition Never Hurt Anybody

It’s February which means it’s time to reflect on CSR Real Estate Services’ accomplishments. Of course these successes would be impossible without the undying dedication of its army of hard-working staff, expert real estate agents and seasoned Leadership Team. A huge congratulations is in store for all of the award recipients at the 2018 CSR Annual Award Ceremony.

  • Laura Bonafede Odom – *CSR Value Award*
  • Dina Bonafede – Top Listing Agent 2017
  • Rita Chao – Top Selling Agent 2017
  • Michael Kaldani – Rookie of the Year Award
  • Anna Kilgore – Most Improved Agent
  • James Laden – Transaction Coordination Award
  • Jennifer Murdix – 2017 Employee of the Year
  • Joanne Escobar – 2017 Team Player Award
  • Rita Chao – Top Producing Agent of the Year, President’s Club
  • Kelly Hunt – CSR Cares Award
  • Jeanette Salceda – Special Recognition, Dedication Award
  • Kelly Hunt – Award for Professionalism & Excellence
  • Jonathan Hanhan – Commercial Agent of the Year
  • Kelly Hunt, Dina Bonafede, Anna Kilgore, Laura Odom, Jeffery Lee, Allen Benjamin, Lupita Rodriguez, Stephen Whitlock, Alisha Pruitt – Top 10 Producing Agents in 2017 (President’s Club)
  • Johny Barney, Steve Cabral, Dave Campanga, Miles Pruitt, Jonathan Hanhan – Diamond Award for Outstanding Work

Congratulations to all!

 

Reaching New Heights

Silicon Valley Business Journal’s “Book of Lists” recognizes a compilation of the top-performing companies, by industry, within Silicon Valley. Released annually at the start of the new year, competitors evaluate how they rank among the rest.  It’s no surprise that CSR Real Estate Services continues to reach milestone after milestone over the years. The company’s various divisions embody professionalism, teamwork and ingenuity while placing a high value on integrity, passion and hard work. CSR Real Estate Services is proud to announce that over the past couple of years, both the Residential and Commercial division have continued to climb “The List” to earn a dual spot of Top 10 Residential & Commercial Real Estate Firms in Silicon Valley for 2017-2018. This is quite the jump when looking at just a few years ago in 2014 when they weren’t listed amongst even the Top 25. In 2015 the Residential division earned the title of Top 25 and leaped to 13 in 2016. That same year, the Commercial division joined the list and placed Top 10 out of the gate, matching that status in 2017 and meeting Residential there to bring home Top 10 all around.

“These are numbers that don’t really grasp the story in its entirety. In 2017 our office grew by 41 active agents while most other companies in our market may not have been so lucky. We have much gratitude and are thankful to have had to opportunity to gain so many wonderful staff members and agents over the past year through strategic recruiting, opening another office location in Roseville, California and having the privilege of merging with Silicon Valley Associates Real Estate. Just wait and see what we do in 2018,” details Terry Meyer, VP of Operations and Broker Associate of CSR Real Estate Services.

While CSR celebrates their victories, employees and agents of the ever-growing company get back to work and continue setting higher goals to reach even more aspirations ahead.

 

Commercial Real Estate Outlook: 2018.Q1

Analysis from RCA pointed to a growing gap between sellers’ high price expectations and buyers’ willingness to pay those high prices. 
The small cap space closed the chapter on 2017 on an upbeat note. Commercial real estate in SCRE markets continued to experience advances in investment sales, as the momentum picked up in the final quarter of the year. Following on the second quarter’s 4.4 percent increase and the third quarter’s 3.6 percent gain in sales volume, REALTORS® reported that sales volume advanced a solid 9.1 percent in the fourth quarter. 
International transactions remained a fixture in  REALTORS®’ CRE markets in the final quarter of the 2017. The average international sale price was $1.2 million in the fourth quarter of the year. Indicating a likely preference for safety of capital over returns, the average cap rate for SCRE international deals was 6.7 percent.
Office demand softened in the fourth quarter of 2017, even as employment in office-using industries expanded.  Office vacancies increased 1.7 percent in the fourth quarter, to $32.17 per square footIndustrial vacancy declined in the fourth quarter, to 4.5 percent. Industrial asking rents advanced in the fourth quarter by 0.6 percent, to $6.92 per square foot.
With rising wages and employment, consumer optimism was well- reflected in the fourth quarter’s  holiday shopping season figures. Demand for retail spaces advanced, with net absorption totaling 3.1 million square feet during the quarter, according to CBRE. Retail construction activity slowed, with completions totaling 9.1 million square feet. The retail availability rate picked up, moving to 6.6 percent in the fourth quarter, as asking retail rents reached $17.12 per square foot.

Helpful Hints to Successfully Renew Your Lease

It is up to the Tenant to notify the Landlord of his/her intention to exercise the “Option to Renew”  during the lease specified notification window. Tenants need to be vigil about lease termination dates and option exercise timelines, not only to keep their renewal options in-tact, but to have better leverage when negotiating a renewal. Furthermore, if the Tenant does not notify the Landlord, the Landlord is not obligated to allow the Tenant to renew.

Avoid Costly Mistakes

One crucial mistake that a Tenant often makes, is to assume he/she can simply go to a month-to-month term until they find another location. Most leases will have a “Holdover” clause. These clauses in the lease agreement often allow the Landlord to charge a premium of sometimes as high as 200% of the last month’s rent.

How your Commercial Broker can help you

Keep in mind, it is always best to contact your commercial real estate professional at least a year prior to the expiration of your lease term to assist with these matters.  Commercial real estate professionals can:

  • Listen to your needs and provide specific options. Is it best to move or stay?
  • Explain current market conditions and how they affect your potential move
  • Provide a Lease vs. Buy analysis to see if it makes more sense to buy rather than lease
  • Perform a comparable analysis to assist in re-negotiating with the current Landlord
  • Find a new location and negotiate terms
  • Provide a timeline for tenant improvements and assist in coordinating move

The Breakthrough

CSR Commercial Real Estate Services Ground Breaking Ceremony for Mixed Use Development Project in Downtown San Jose. Fifty (50) residential units above retail sitting pretty on a one acre site. China-based NEO Assets is the Developer. CSR Commercial Real Estate Services – Owners Representative / Project Manager. MRC Construction – General Contractor. Kurt Anderson – Architect.

Construction is due to be completed in March 2019.

csr merges

SILICON VALLEY ASSOCIATES MERGES WITH CSR REAL ESTATE SERVICES

SILICON VALLEY ASSOCIATES MERGES WITH CSR REAL ESTATE SERVICES
CSR Real Estate Services & Silicon Valley Associates Become One

San Jose, CA (September 12, 2017) – CSR Real Estate Services, a leader in providing the highest level of customer service, announced today they are becoming a joint entity with Silicon Valley Associates (SVA), a company specialized in world-class real estate, to become the leading boutique, Silicon Valley real estate group.

Merging with Silicon Valley Associates, based in Campbell, CA, further increases CSR’s share in the Silicon Valley real estate market. “I’ve been a part of many real estate acquisitions and mergers throughout my career. This one is very special and has uniqueness to it. Silicon Valley is largely made up of corporate owned, Wall Street driven real estate brokerages. To see two of the most respected, independently owned and operated brokerages joining forces and gaining momentum, is a bold statement that the boutique, family-run business is alive and well,” Terry Meyer, CSR Real Estate Services Senior Vice President of Operations & Broker Associate.

Founded in 2003 by real estate veterans who sought to enhance the experience of buying and selling a home, CSR Real Estate Services is a boutique, Silicon Valley real estate group. CSR embraces dedication to the community, local business interaction and helping people make one of the most important transactions of their lives. CSR takes pride in providing a high-caliber of service to clients and business partners of all backgrounds. CSR strives to build long-term relationships fostered through integrity, competency and mutual respect. As the company continues to grow, locally as well as its recent expansion to Roseville, California, CSR flourishes because it offers the full spectrum of real estate services while maintaining its home-grown appeal and inclusive culture.

“We’re honored to have such a respectable brokerage and team of professionals join the CSR family. Combining the two parties is something we’ve been thinking about for a long time and we are excited to see what successes are to come in the near future,” Steve Bonafede, CSR Real Estate Services President & Chief Executive Officer.

From its inception in 2007, Silicon Valley Associates has continued its boutique-style, which ensures delivery of the highest level of personalized service. SVA’s innovative approach to organization and detail ensures that every real estate need is met well beyond the transaction – this is the SVA advantage. The company integrates technology to market listings and utilizes the knowledge and experience to deliver seamless transactions.

“Our goal is to become the power house in this industry by gravitating people to our unique, philanthropic, close-nit culture. With the combined experiences that both SVA and CSR possess, there’s no reason we can’t attract the best agents in Silicon Valley and create a stronger home for us all – we are all extremely enthusiastic about that”, Don Jessup, Silicon Valley Associates Owner.

CSR is known for traditional and remarkable customer service and attention to detail. CSR currently serves a large portion of the south bay area and employs over 80 staff members and agents between San Jose and Roseville, CA. It has won numerous awards for its outstanding services, continuous growth as well as maintaining a 96% agent retention rate. The company will focus on providing new CSR agents with a warm welcome, adequate training and a new place to call home. Business will continue as usual moving forward within CSR’s San Jose headquarters. For more information about CSR Real Estate Services, visit www.CSRRealEstateServices.com.

CSR EXPANDS TO ROSEVILLE

CSR EXPANDS TO ROSEVILLE
Here we Grow Again…BIG TIME!

SAN JOSE, CA August 1, 2017 — CSR Real Estate expands to Roseville, CA. CSR Real Estate Services, the number one real estate agency in Cambrian, announces its expansion to the Sacramento and Roseville area. The firm will bolster its service offering to the Roseville and Sacramento area real estate market.

Silicon Valley real estate gurus and CSR Leadership Team expressed their excitement for the expansion to staff and agents over a company-wide meeting held in early July. Within the meeting, pioneer CSR Roseville agents, Lisa Herkenrath, Lana Hurley and David Hurley were introduced to the CSR family, CSR culture and welcomed with open arms. Enthusiasm filled the room as highlights were unveiled to the company.

“CSR’s competitive advantages and personal, human-touch in the Roseville real estate market are just as valuable as they are in Silicon Valley – our unwavering focus on customer service and perfecting the home-buying experience as well as our one-of-a-kind culture will flourish here”, explained Terry Meyer, Vice President of Operations. “Our strategy in Roseville is simple – we’re listening to our clients. We’re expanding our commitment to the Roseville market just as our clients expand their interest and commitment to real estate in those areas”, emphasized Steve Bonafede, President & CEO. Bonafede also accentuated the company’s opportunity to attract top talent in a rapidly growing real estate market, saying, “As we continue to grow, we see a real opportunity to attract some highly-talented agents across Sacramento and Roseville.”

“Roseville and other outer layers of the bay are the clear winners among emerging markets driven by cost of living in the California Bay Area,” added Terry Meyer. “Increasingly, families are enabling the evolution of the real estate market, making Roseville the #1 city to raise a family in the Bay Area”, says Lisa Herkenrath in an interview.

With houses popping up like weeds throughout the Sacramento area (10,000 within a three-mile radius to be exact), surrounded by golf courses and located just 90 minutes from the popular vacation destination, Lake Tahoe, CSR sees this as an optimal opportunity to expand its mission in duplicating community outreach and sharing its unique company culture from its origin in San Jose miles away. Other highlights in expanding from Silicon Valley to the Roseville area include the top-rated schools throughout the Roseville District; all of them are Gold-Standard award-winning schools.

Author: Jennifer Murdix, Director of Marketing, CSR Real Estate Services