Local Chamber of Commerce Supports Tourism in the Hilton Head Area

Hilton Head Island-Bluffton Chamber of Commerce pic

Hilton Head Island-Bluffton Chamber of Commerce
Image: hiltonheadchamber.org

Since transitioning away from Wall Street in 2012, former Crown Growth Partners executive Geoff Block has relocated to Bluffton, South Carolina, where he operates holding company RLB Squared, LLC. An active member of his community, Geoff Block affiliates with the Hilton Head Island-Bluffton Chamber of Commerce.

The Hilton Head Island-Bluffton Chamber of Commerce focuses on creating an economically vibrant, business-friendly community that benefits its members and helps to improve the quality of life in the Hilton Head area. Recognizing the important role of tourism in the local economy, the chamber particularly works to maintain the area’s standing as a leading vacation destination.

Through a results-oriented approach that includes initiatives like the Visitor & Convention Bureau, the chamber has helped to bring in ample visitors, including a record 2.65 million in 2015. This success has resulted in a 46 percent increase in accommodation and hospitality tax revenue over a five-year period and a $1.1 billion impact on the local economy in 2015 alone. What’s more, Hilton Head continues to attract significant new capital investment.

Led by an 11-person executive committee and a 13-person board of directors, the Hilton Head Island-Bluffton Chamber of Commerce consists of 1,600 members. To learn more about the chapter, including its tourism-centered programs, please visit www.hiltonheadchamber.org.

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Jaguar Land Rover Opens New North American Headquarters

 

Jaguar Land Rover pic

Jaguar Land Rover
Image: jaguarlandrover.com

Geoff Block leverages experience he gained at Crown Growth Partners on Wall Street to manage day-to-day operations of RLB Squared, LLC, an investment company with a large portfolio including hedge funds and real estate ventures. Geoff Block partnered with The Becker Organization to develop the former Sharp Plaza, which has been leased by Jaguar Land Rover for its North American headquarters.

Located on 13.9 acres in Mahwah, New Jersey, the plaza includes a 147,077-square-foot office building where Jaguar Land Rover began renovation and expansion efforts in 2016.

Completed in March of this year, the existing building underwent a complete interior renovation that focused on improving technology and incorporating collaborative workspaces. The existing structure was expanded to provide a 30,000-square-foot space that houses product research, training activities, and other technical activities. The façade of the structure received a facelift as well. Jaguar Land Rover’s new North American headquarters is able to accommodate 315 employees.

Factors That Affect Commercial Real Estate Markets

 

Commercial Real Estate pic

Commercial Real Estate
Image: investopedia.com

Geoff Block held an executive role with Crown Growth Partners before he and his wife opened the firm RLB Squared, LLC. As manager, Geoff Block is responsible for the daily operations of a company that manages family portfolios and has holdings spanning a variety of areas, including commercial real estate.

To a great extent, commercial real estate markets differ from all other markets because of several factors. One is location. Although it is easy to find a good location, predicting whether choosing a location remains a profitable decision several years from now may be challenging. Considerations for choosing a location include accessibility, transportation connectivity, and distance from clients, customers, and suppliers.

Another factor that affects the commercial real estate market is budget. Aside from the purchase price, there are other cost considerations when buying a commercial real estate property. So whether a client decides to pay in cash or opts to use financing, creating an accurate budget is essential to determining the range and accuracy when searching for available options.

Appraisal also makes the real estate market different from other markets. Most buyers purchase their properties using mortgages, and lenders will not generally lend money for more than the property’s appraised value. An office or any building is considered to be worth the price the appraiser sets. As much as 11 percent of real estate deals are killed by appraisal issues.