StoneCreek Partners News and Research Archives

Golf Courses Remain a Focus for Redevelopment

29.11.2020 News about economic development, News about global real estate consulting, News about outdoor recreation venues, News about redevelopment and regeneration, News About the Golf Industry, StoneCreek Partners News and Research

Golf courses remain a focus for redevelopment and repurposing as property owners explore greater highest-and-best use for their golf assets.

The interest in such redevelopment is straight-forward. Golf courses were overbuilt in the U.S. and in some global regions, and the 2008 recession decimated many golf owner’s financial resources. At the same time golf participation has steadily declined year over year, at least through 2019 (there is an exception in 2020 due to Covid-19). With this confluence of economic difficulties and ever-changing consumer preferences for their leisure-time activities, in many instances golf course assets offered a tantalizing opportunity for adaptive re-use and repurposing. For many cities and communities with increasing interest in local economic development and specific agendas such as affordable (if not more inclusionary) housing, these golf assets are particularly ripe for highest-and-best-use consideration.

The mega project proposed by Hines for Riverwalk Golf Course in San Diego, will likely spur even greater interest in golf course redevelopment. Golf courses are often situated within attractive residential communities, with reasonable roadway access and ingress/egress for feasible re-purposing as residential projects. Hines found such an opportunity with the Riverwalk site in a decidedly “best case” way – the Riverwalk golf course just happens to be so well-located within its region that it can support substantial mixed-use redevelopment. Hines has proposed such a mega redevelopment project there, which could see in excess of $1 billion in new development.

For more information about golf course redevelopment, we have started tracking such projects as part of our ongoing client project research. We expect golf courses to remain a focus for redevelopment, for some time to come. StoneCreek Partners also tracks other major real estate asset classes, with some of our research and tracking published here online. The link is available here:

Golf Course Redevelopment – the Latest

Life Sciences Real Estate Consultants

23.11.2020 News about acquisitions and financing, News about global real estate consulting, News about office and industrial properties, Real Estate Consultants, StoneCreek Partners News and Research

Our work as life sciences real estate consultants includes new facility project feasibility, owner representation for design-development management, and for due diligence in connection with facility acquisitions.

Life sciences real estate has been a favored investment asset class for some time now, and the Covid-19 pandemic of 2020 has only propelled investor interest in these assets. Real estate matters related to the life sciences industries, involve companies, research universities, and government agencies working in fields such as pharmaceuticals, biotechnology, genetics and genomics, medical devices, and the like. Many life sciences organizations are involved in original research and clinical trials, often in BtoB joint ventures and public-private arrangements.

Life sciences projects can be higher risk than other form of tenant-occupied real estate, given the cost premium for such facilities.

Facilities intended for occupancy by life sciences companies are a unique form of real estate. As a result, investors know that purpose-built life sciences facilities can be significantly more expensive than more ordinary general-purpose office and industrial space. Base building work, proper ventilation, security, ceiling heights, waste disposal, all such factors can make a life science campus with significant laboratory space as much as 50% more expensive than normal office space.

Our consulting services include:

Project Feasibility Consultants – Our project feasibility work for life sciences facilities takes into account that market supply and demand issues common to any real estate feasibility study, but also the additional factors that drive the industry. The quality and number of research universities in an area, the type of research occurring at these educational institutions, the track record for government funding of such research, and the presence of existing public-private collaborations are all important to life sciences real estate success. Life sciences “clusters” featuring research universities and corporate R&D programs exist throughout the U.S. Some are longstanding and with significant critical mass while emerging clusters are in early growth in many regions.

Owner Representation for Design-Development – As owner’s reps, we work with owner to identify and retain the best team for a particular development project, including design professionals, structural and mechanical engineers, and a general contractor with specialty subs. We collaborate with potential tenants or owner-occupier end users for the life sciences campus, ensuring their facility requirements are delivered.

Additional information about our office and industrial project consulting practice, and our wok as life sciences real estate consultants in particular, is available at this link:

Office and Industrial Project Consulting at StoneCreek Partners

Work flow is the essential consideration in planning life sciences facilities. Desktops and cubicles are situated in particular ways for access to wet benches, incubation chambers, vivarium areas, and hazardous materials disposal.

Hotel Project Feasibility Consultants

22.11.2020 News about hotels and destination resorts, News about redevelopment and regeneration, StoneCreek Partners News and Research

Our work as hotel project feasibility consultants starts with market analysis and the feasibility of new development, the acquisition and disposition of properties, and a role as owner representative and asset manager on behalf of owner.

Of course, as the hotel industry manages through the difficult circumstances wrought by the Covid-19 pandemic, the focus of much of our consulting work has necessarily changed. Operating occupancies in the U.S. remain at or about 40% (less in many international regions) and travelers have changing preferences for their accommodations.

As a real estate investment asset class, branded hotels and resorts are now in a period of focused reexamination.

Many hotel branded products that have depended upon corporate meetings and travel, are currently obsolescent from an economic standpoint, while other lodging products are proving almost pandemic-proof. As one of the significant real estate investment asset classes, branded hotels and resorts are now in a period of focused reexamination.

Some examples of our recent work as hotel project feasibility consultants, include:

Planning as part of collaborative design teams, to support client mixed-use redevelopment opportunities, particularly as part of solutions for failing shopping malls;

Feasibility, business planning, and conceptual design for new glamping and eco-resort products, recreational vehicle (RV) parks and campgrounds, as well as major recreation adventure resorts;

Assistance to local governments in restarting regional visitor destinations, as a means of boosting local economic development;

More traditional consulting support, such as project feasibility studies for new development, and due diligence for client acquisitions – whether single properties or portfolios.

Our firm’s essential value to clients is our hands-on experience in designing, developing, and operating projects and businesses. StoneCreek Partners is led by co-founder Don Bredberg and his substantial experience as an executive with The Irvine Company, NBCUniversal, and the Riyadh-based family office of Newfield Enterprises International.

Glamping accommodations conceptual design - Adventure Entertainment Cos.

Glamping and eco-resort accommodations are likely to do well in coming years, as travelers adapt to a world of social distancing and health concerns.

The firm was first established in 1984 in Los Angeles, and is now headquartered in Nevada. Our work as hotel project feasibility consultants got started shortly after the firm’s founding. In those early days, as part of managing a portfolio of luxury hotels for a Saudi family office, our firm’s co-founder Don Bredberg was one of the initial founder members of the Hotel Asset Manager’s Association.

Additional information about our hotel and resort consulting practice, is available at the link below:

StoneCreek Partners – Hotel, Resort, and Accommodations Consulting Practice

Economic Development Consultants for Tribes

22.11.2020 Economic Development Growth Monitor, News about economic development, News about global real estate consulting, News about local government real estate, Project Consultants for Tribes and First, StoneCreek Partners News and Research

Our work as economic development consultants for tribes and other indigenous nations has expanded with additional services and new regions covered.

StoneCreek Partners’ client work with Native American tribes and pueblos, as well as Native Hawaiians, now includes Canadian First Nation tribes and organizations. Over the years, StoneCreek Partners has also worked with indigenous nations in addition to those in North America, including those sovereign nations in the MENA region and the Pacific Rim.

The Covid-19 pandemic of 2020 has increased the interest in economic development plans that can reliably produce economic results – increased jobs, new investment, and enhanced quality of life. And sooner than later. Our economic sector analytics have an increasingly granular focus on real estate investment asset classes. This is due to some types of investment now being in question, and relatively new asset classes commanding investor attention.

Our consulting focus is on projects that can be made to happen, and less on broad programmatic objectives.

Another focus is on the feasibility of specific projects. As we act as economic development consultants for tribes we explore how development might occur in a particular region, focusing more on projects that can be made to happen, and less on broad programmatic objectives. With specific projects identified, strategic partners can be identified and pursued.

Today’s economic development strategies can include all manner of visitor destination strategies, location-based entertainment, sports mega-complexes, life sciences projects, and other development can prosper within specific locations and markets. Our experience with design management, development, facilities management, and with overall dealmaking and transactions allows us to take economic strategies through implementation.

What is a charrette? Charrettes explained StoneCreek Partners is a business planning and development firm, with expertise that includes commercial real estate, hospitality, location-based entertainment, and direct-to-consumer technologies. StoneCreek Partners has provided economic development planning and program implementation support to Native American tribes and their sovereign development companies, as well as to similar city, county, and state organizations.

Our firm’s essential value to clients is our hands-on experience in designing, developing, and operating projects and businesses. StoneCreek Partners is led by co-founder Donald Bredberg and his substantial experience as an executive with The Irvine Company, NBCUniversal, and the Riyadh-based family office of Newfield Enterprises International.

The firm was first established in 1984 in Los Angeles, and is now headquartered in Nevada. Our economic development consulting for tribal nations and other indigenous nations got started shortly after the firm’s founding.

Additional information about our economic development consulting practice is available at this link:

StoneCreek Partners – Economic Development Consultants

Planned Community Consultants - project feasibility consultants

Golf Participation Up 11% Over 2019

21.11.2020 Consumer Products Fresh Monitor, News about economic development, News about local government real estate, News About the Golf Industry, StoneCreek Partners News and Research

According to the National Golf Foundation, golf participation is up 11% over 2019. The U.S. data through October 2020, is now at 10.8% ahead of 2019’s pace despite losing 20 million rounds in the spring due to the Covid-19 lockdowns. In fact, October marked the fifth straight month that play has been up year-over-year in every state in the continental U.S. This increased play translates to roughly 39 million more rounds nationwide than a year ago.

Operating results for the U.S. golf industry represent a marked improvement over the generally dismal outlook that has existed for the past decade. The reduction in golf participation over the decade has caused an increase in golf course’s being redeveloped or repurposed to new use. Even with golf participation up 11% over 2019, more courses will proceed to partial or full redevelopment. Our golf course redevelopment tracking has started and we’ll begin reporting in January 2021.

According to the National Golf Foundation (“NGF”), in both 2009 and 2016, roughly a quarter of public courses admitted to being in bad shape, financially. Among private clubs, 21% were doing poorly in ’09, but seven years later that proportion had dropped to 14%. This year, there’s been a dramatic rise in the proportion of U.S. golf facilities reporting to be in good financial shape compared to previous NGF studies, including more than half of public courses and nearly 2/3 of private clubs. And, fewer than 1 in 10 (public and private combined) suggest that they’re currently in bad shape (0-4).

The National Golf Foundation article is based upon information from Golf Datatech’s monthly report. According to its website, Golf Datatech provides the golf industry with specialized market research covering retail sales, inventory, pricing and distribution, along with consumer attitude and usage studies and strategic sales and marketing consulting.

The full article by National Golf Foundation about golf participation up 11% over 2019 (year over year), is available here:

Tracking the Impact of Covid-19 on the Golf Business – November 2020