A commercial building technology provider with offices in Longwood has leased more than 10,000 square feet of office space for its Jacksonville headquarters as the growing company requires more space.
The Arby's located at 626 Airport Center Road, which sold for $2.7 million this week. DUVAL COUNTY PROPERTY APPRAISER
Tyler Saldutti and Conrad Boylan from Prime Realty represent buyer and seller on industrial property sale.
Restaurants and marijuana dispensaries find a home in former bank branch facilities.
April 2022 Gordon Olson jumped into a sales role in late 2021 as Associate Director on the commercial real estate brokerage team at Prime Realty. He has made a splash closing over $5 million in sales during his first seven months with more than $6 million in projects underway. Now with multiple sales and leasing transactions under his belt, Gordon sets his sights on carving out his place in North Florida Commercial Real Estate market and defining his brand as a top producer
A 7.7-acre site at Alta Drive and Interstate 295 sold for $3.5 million.
Finding a category to place such a unique and magnificent city like Jacksonville can be challenging. This one we can stand behind.
City Rescue Mission plans to open a thrift store in the West Jacksonville shopping center.
Hakimian Holdings is known for its retail property portfolio, owning retail centers — including Gates of Promenade — across the First Coast. Now it can add medical office building landlord to its resume. “We’ll be three to five times as large in the next five years,” Hakimian said. “This place is going to keep booming and booming and booming, and we want to be as much a part of that story as we can be.”
We're excited to announce the sale of Jacksonville's oldest Dairy Queen, located at 5812 University Blvd. W. The restaurant will continue to be in operation as it has for more than 50 years. Special thanks to our brokers, Kayla Deguzman, Brent Dennis, and Tyler Saldutti for their respective roles in facilitating the sale.
The First Coast is growing at an exponential rate, especially when it comes to real estate, and growth isn't without its challenges. To understand more about the situation, including some possible next steps for the region, the Business Journal spoke to Prime Realty founder and CEO Tyler Saldutti, who works in commercial, residential, and industrial and office real estate sectors.
Prime Realty is excited to announce Shaun Mayberry has taken the role of Vice President of Brokerage Services at Prime Realty in Jacksonville, Florida. Shaun’s focus is primarily on servicing owner occupant industrial and medical office customers. Additionally, he will be assisting the Brokerage division on land dispositions across multiple property types.
_960_502.jpg)
Shaun Mayberry and his family were part of the construction team in 2004 that built the industrial property at 259 Ellis Road for Engine Distributors. Shaun went on to represent the seller of this property in 2020.
Cypress Heights, a 41-unit multifamily property located at 6650 103rd Street in West Jacksonville, sold on August 4th for $2.81 million. Miami-based real estate investment firm, Concession Management LLC, paid $68,536 for each building. Steven McAdoo, associate director of multifamily investment sales represented Concession Management in this off-market sale. Steven has worked with Concession Management before as the company continues to grow its portfolio in Jacksonville.
CEO Tyler Saldutti has always taken pride in the fact that his Jacksonville-based brokerage firm Prime Realty was born in and refined by the Great Recession. Now in the economic crisis created by Covid-19, he’s had to prove his company is up to the challenge once again. As a property owner himself, he has had to keep a closer eye on finances and create new relationships with tenants. "As an investor and as a landlord...we're nothing without our tenants. You don't want to be the landlord that seems like they don't care," Saldutti says. Saldutti remains optimistic about expansion because of his confidence in his brokers’ abilities to make the most of bad times. “It’s a different conversation and a different process during turmoil than it is during any sense of stability or a good market,” he said. “We’re one of the best firms out there for when it’s difficult.”
West Jacksonville’s Monroe Manor recently sold to a Pembroke Pine-based investment group for $2.45 million. Constructed between 1939-1981, the apartment community consisted of 41 multifamily units with single-family, duplex, and triplex options available. Prime Realty’s Steven McAdoo represented both the buyer and seller in this off-market transaction.
_960_582.JPG)
“We share a passion for mixed-use projects and deliver adaptable solutions that are important in the execution of Fuqua’s overall vision. Our creative ideas will significantly differentiate this project from other developments in the region,” Matthew Clark and Megan Atkin said in a joint statement.The overall 1,200-acre development will comprise 200 acres of conservation land, 65 acres of mixed use land and 1,150 acres for single-family homes and townhomes. Prime Realty Senior Vice President Matthew Clark and Entwine Founder and CEO Megan Atkin will market and lease the development.
The Curry Thomas Hardware Store at 3907 Baymeadows Road has been sold for $940.000. John Ergisi, owner of Jacksonville-based brokerage company United Retail Services bought the space with his part Dr. Rajesh Mali, hoping to revitalize the area. “We’re going to make it look brand new,” said Ergisi. Their plan is to spend $700,000-$800,000 on redeveloping the space, starting with remodeling the building’s storefront, parking and signage. Shaun Mayberry, Asset and Acquisitions Manager at Prime Realty, brokered the sale and “believes we are setting the stage for other re-purpose projects in the vicinity.” The new owners hope to find new retail tenants in the meantime for the currently vacant 13,700 square foot building and state that they had long thought about purchasing the building due to its “great location and good bones.”
Steven McAdoo joins Prime Realty’s brokerage team as an Associate Director specializing in multi-family investment sales.
_960_641.jpg)
“I am very confident he will be able to make important investment decisions that will help grow our investment selections, Property Management portfolio, and provide excellent brokerage services to our clients. Shaun will be part of Prime Realty’s goal of creating a strong, well rounded full service commercial real estate platform,” says Tyler Saldutti, Founder and CEO of Prime Realty.
Infill housing developer JWB Real Estate Companies LLC buys the property for $5.08 million.
Prime Realty's Matthew Clark Sells San Marco Square Building to Jacksonville-based Sleiman Enterprises.
A hot real estate market is defined by where people choose to live and work, so it is no wonder that the industry concerns itself heavily with demographics. Read more at: https://www.bisnow.com/los-angeles/news/forecast/planning-for-2065-5-demographic-trends-that-will-change-cre-100135?utm_source=CopyShare&utm_medium=Browser
“Florida is America’s Australia,” goes the set-up line for a well-worn Florida joke. But the laughs are increasingly at the expense of anyone short-changing Florida and the steadily growing economic might the Sunshine State is delivering to the nation and the world.
From the NFL’s Gridiron Battlefield to the Dynamic World of Commercial Real Estate Investing—this is My Story.
Now, the owners of the oldest continually operating restaurant in Jacksonville are looking to sell both the business and the 4 acres of land upon which it sits.
Town & Country Shopping Center outparcels for sale
CEO Eric Green and COO Fred Wong at the 2019 State of the Port
Millennials Thrive in Riverside, Five Points & Brooklyn.
"Five Points is a microcosm of diversity that reflects this city's future generation," he said. "That experience is what results in some of the highest restaurant and bar sales in all of Jacksonville. The new additions to Five Points in 2019 will only continue to push this progressive thinking bohemian neighborhood forward." - Matthew Clark.
After ten years in business it is clear to us that Prime Realty is NOT in the real estate business. We are in the relationship business. As we plant, water, and grow new relationships, we reflect on where our most valued relationships have come from. Here are just a few of the ways our client relationships are built at Prime:
Matthew Clark and Karen Hong from Jacksonville based Prime Realty represented Code Ninjas in finding their new location in Julington Creek Plantation, (Plantation Plaza) at 2758 Race Track Road Ste 401, Saint Johns, FL 32259.
_960_640.jpg)
Murray Hill Plaza at 1064-1080 Edgewood Ave. S. sold for $1.2 million.
Town & Country Shopping Center Inc. paid $1.08 million for pair of properties. Through Town & Country Shopping Center Inc., it bought buildings at 1561 San Marco Blvd. and 1017 LaSalle St. for redevelopment and leasing. Matthew Clark, Senior Vice President of Prime Realty Commercial Real Estate, is the leasing agent.
The US Economy - Interest Rates and Property Values - The Midterm Election - Government and Trade - Capital Markets - Rate and Spreads - Lending Regulations
We are proud to be celebrating 10 years in business this month. Check out this snap shot from 10 years ago.
Gentrification is a common and controversial topic, and always has been a big factor in shaping our community. Millennials, born between 1983 and 2000, are ever more flocking to the cities instead of heading to the suburbs. Searching for those city vibes and trendy lifestyles, Jacksonville’s young adults have begun populating Springfield, Brooklyn, Downtown and Riverside.
Jacksonville, Florida-based brokerage firm Prime Realty hires former NFL player, hometown football star and philanthropist, Mario Butler. Tackling a career change from football to commercial real estate, Butler joined Prime Realty’s team in August of 2018 as an Associate Director.
Prime Realty's Matthew Clark was featured in J Magazine this week discussing his hopes for Downtown Jacksonville. Chosen as one of the influencing voices in our city, Clark tells us why he thinks our Downtown will become a magnet for millennials.
Don’t let the leasing process become an overwhelming experience. Here are a few tips and tricks for how to make it easy and fun for everyone involved!
Jacksonville, FL based commercial real estate firm Prime Realty adds another shopping center to its portfolio of closed listings. This time, the company represented the buyer, Safari Plaza LLC, in the purchase of Baymeadows Festival Shopping Center for a price of $5,150,000.
McDonald’s Corp. is using its substantial real estate holdings across the United States to fend off competitors eating into its bottom line.
Please join us in congratulating Matthew Clark on his recent promotion to Senior Vice President at Prime Realty in Jacksonville, Florida.
If you are considering purchasing commercial real estate, you will need to know a few tips and tricks.
Lakeland, FL-based supermarket chain Publix added another store location to its real estate portfolio. This time, the company purchased the Shoppes at Mission Trace in St. Augustine, FL.
With a booming economy and flush city government coffers, Jacksonville’s City Council approved an $82 million incentive package to jumpstart infrastructure at the long-awaited District development.
Landlords continue to benefit from booming apartment demand, as U.S. apartment rent growth averaged 2.9 percent between May of 2017 and 2018. While landlords haven’t been able to push rents like it’s 2015 anymore, the country is eight years into this economic cycle and rents continue to outperform their average in the face of increased supply.
The Jacksonville chapter of CREW hosted a hardhat tour of the Laura Street trio on June 19, 2018. Our tour guide, Steve Atkins, provided insight on the project as a whole and took us through the Barnett Bank building which is currently under construction.
Great news for local job seekers, Northeast Florida makes it on Forbes list for the best cities for jobs in 2018! Give us a call today, there has never been a better time to invest.
Beacon Fisheries is making it happen in Jacksonville! We are very proud to call them a client.
40 Under 40 Alumni Mixer at The Candy Apple Cafe Brings Together Jacksonville’s Thought Leaders From a Multitude of Industries
Ever wonder what neighborhood commercial strips were originally set up to be walkable? Look no further than this map by George W. Simons, Jr. It presents an interesting look at zoning in Jacksonville during the Great Depression.
Jacksonville, FL may not be front of mind when investors think about defensive, tight markets that keep a tight lid on new developments. However, that might be changing.
There are many different types of properties to keep track of in the world of commercial real estate. It may feel like there is too much to learn in too little time, but that is not the case! This article discuses the different types of retail real estate. Whether you are interested in investing or starting up your own business, this article should be a helpful read.
Contact us to learn more details about this sale, or to discuss your property and how to maximize your return on investment.
Not an expert in commercial real estate? Well we are! Here are some popular questions and answers that might help you.
-X2_960_640.jpg)
Starbucks aims to support ongoing revitalization in the community by opening more stores in minority neighborhoods. The goal is for Starbucks to provide jobs, opportunity and world-class training to young people living in these neighborhoods. Youth between the ages of 16 and 24 who are unemployed or not in school will be targeted for training.
Jacksonville’s industrial market is seeing some significant changes this year. With the vacancy rate reaching a new low, the rental rates have increased tremendously.
I am taking one of my CCIM courses this week and one of the professors, Gary, shared some of the trends he sees in the retail industries. Gary is an expert in retail properties so I thought I would share...
Initial plans for the facility, located at 12900 Pecan Park Road, called for the creation of 1,500 jobs. It now employs more than 2,000 full-time workers. And during the past year, Amazon has slowly rolled out same-day delivery options for select zip codes in the area.
Web.com headquarters coming to Gate Parkway in Spring 2019. This building, which is being referred to as “Town Center Two”, will include a dining area, fitness center, and health clinic in addition to office space for roughly 1,000 employees.
Matthew Clark and Austin Kay of Prime Realty closed on Magnolia Layne, an 87,454 square foot neighborhood shopping center located in Green Cove Springs, FL.
Food for thought... Machine, Platform, Crowd: Harnessing our Digital Future
For all those college basketball enthusiasts out there, read about how Many professionals in the commercial real estate industry played college ball.
Joel Schellhammer, Vice President of Corporate Strategy for Steelcase, addresses trends effecting office property owners and users.
For those moving into Park Street, the attraction comes from Five Points being one of the most diverse, walkable neighborhoods in Jacksonville, said Matthew Clark, vice president of retail property brokerage at Prime Realty. “We’ve found that a lot of restaurants and retailers want to invest in the space, and it’s been great,” he said. “They’re really helping to re-gentrify the neighborhood.”
Karen Hong and Eric Yi of Prime Realty are proud to welcome Northeast Florida’s newest Bojangles’ restaurant location in St. Augustine. Karen and Eric worked hand-in-hand with the Northeast Florida franchisee, Bo Scallions, LLC throughout the entire site selection and transaction process for the 1.06 AC property.
The German discount grocer Aldi, intends to open 900 stores in the U.S. over the next five years. The department store Kohls plans on leasing the available space at several stores to not only Aldi, but other grocery stores such as Whole Foods. According to reports, the grocer-retailer partnership could help both Aldi and Kohl’s. The retailer could benefit from the increase in customers shopping for groceries while Aldi will cut the costs by renting space from Kohl’s.
Companies are jumping at the opportunity to re-purpose retail sites and turn them into self-storage facilities. Shopping centers and malls that are located in highly trafficked areas are proving to be perfect for these re-purposing projects. Self storage continues to grow in our industry and is expected boom in 2018!
Prime Realty’s Eric Bumgarner and Joseph M. Turri make commercial real estate investment a success for Virginia based Rahimi brothers. Plaza 295 is a multi-tenant flex industrial park located in the Westside industrial sub-market of Jacksonville, FL. In just three years, Bumgarner and his team created tremendous equity in Plaza 295 by acquiring new tenants and leasing vacant spaces within the property. Many of the commercial properties in the United States that fell into foreclosure five to ten years ago were sold to new owners and have now stabilized. “It is time to harvest the equity created after the last decline in the commercial real estate market,” said Eric Bumgarner, Vice President of Prime Realty.
Prime Realty's Matthew Clark starts the new year off by leasing the entire 9th floor of 100 N. Laura to Live Oak Construction. Live Oak Construction is a Jacksonville based full service general contracting firm with over 50 years of contracting experience.
Jacksonville city gets its very first dog park with a coffee and beer bar. This unique concept will be opening in the Spring and will allow dog owners to relax and have a beverage while their pups play.
An NFL Playoff win is a win for The First Coast. National TV exposure, new visitors to the area, and a packed stadium all fare well for the Jacksonville business community. Jaguars playoff success raises national profile of the city of Jacksonville.
There is a new business model for office space that will recognize the popularity of co-working spaces. When operated by a seasoned provider, co-working spaces are known to be about 50% more profitable than traditional office leases. Traditional landlords are preparing to focus less on asset value and more on tenant needs by eventually making new office space decisions.
What to expect in 2018 for Commercial Real Estate: 2018 is quickly approaching and the prediction for 2018’s commercial real estate market, can best be described as “slow- and steady growth.” According to the top brokerages, industry and experts, there are 22 trends in 2018.
It is no secret that online retail is increasing daily. However, there are many things that online retail can not offer and brick – and – mortar stores always will be able to offer. According to Unibail-Rodamco Christophe, “Retailers need a physical presence.”
The release of Star Wars: The Last Jedi brings on an incredible amount of foot traffic to shopping centers. More than a quarter of adults in the United States went to see a movie last week, 83 percent of those adults went to a cinema that is located in a shopping center or mall. This increase in foot traffic brought retailers of all types great business! About half these adults shopped before or after the movie, and many dined at the center and/or engaged in other activities.
_960_641.jpg)
Prime Realty selected as the property manager for Regency Court.
Imagine office buildings, public places and our community without any art. Our society would be a very dull and boring place. Art enhances the way we live, work and play. It can enhance communal areas, office projects and retail development. Developers are using art to brand a property and create a vibe that matches the culture.
What to look for when choosing a commercial real estate firm to represent you.
Top Five Tips To Leasing Your Commercial Property
Hiring a Tenant Representation Broker makes a world of difference when leasing an office. You need someone to guide you through the detailed process from A-Z and help you assemble a team of experts who will fulfill specific needs. Hiring a professional should be the easiest choice you face throughout the whole process.
A company that recycles used electronics will be creating 30 jobs over the next two years in Northwest Jacksonville after buying a 53,000-square-foot warehouse in Northwest Jacksonville at 3722 Bright Ave.
The company, E-Tech Management USA Inc, collects precious metals from used electronics and then ships them around the world, said Prime Realty broker Eric Bumgarner, who brokered the transaction between E-Tech Management and seller Antonio Estevez.
Bumgarner said the property was in complete disarray in 2014 when Estevez bought it for $150,000.
“The roof was shot, electric was ripped out, office was shot, plumbing had to be replaced and it was spray painted all over the place,” he said. “It was in about the worse condition possible.”
However, the property was still functional and Estevez used it for the past two years to run a business that refurbished printers to sell to overseas clients.
Bumgarner said that in January 2015 when he first took the assignment, Jacksonville’s industrial market was a little soft and “nothing like it is now.”
“I’d say the industrial market really started heating within the last 12 months, and once that happened we started getting a lot more interest in the property,” he said.
Benny Yeung, the owner of E-Tech Management USA, reached out to Bumgarner about another property, but the Prime Realty broker realized that Yeung’s business would work well in the Northwest warehouse. Eventually, buyer and seller agreed to a purchase price of $730,000.
Bumgarner said that Yeung, who wasn’t immediately available for comment, still got a good deal on the property as the sales price of $14 per square foot is still below what similar buildings offering the same functionality.
This building offers dock high access, outside storage, a rail spur and a 20-foot clear height. Bumgarner said buildings with similar functionality routinely are sold in the $25 per square foot range.
Also, Jacksonville wasn’t the only place that Yeung looked before deciding on 3722 Bright Ave. to buy. Yeung also looked in Savannah, but couldn’t find any property at a comparable price. Bumgarner said that some similar sized warehouses in that port city are being marketed at much higher prices.
Also, Jacksonville provided other strategic advantages, he said.
• Available workforce
• Jax Port
• Cost of living
• Quality of life
• Cost of real estate
• Strategically located to reach a large portion of the US population by truck in a short amount of time
After about a month of him examining the Savannah market he made his mind up on Jacksonville, Bumgarner said.
Derek Gilliam
Reporter - Jacksonville Business Journal
“Team Prime and their invited guests enjoyed a beautiful day at The Players Championship in Ponte Vedra Beach. Fun was had by all.”
Every year, the Jacksonville Business Journal honors 40 of the city’s up-and-coming leaders under the age of 40. This class of honorees is diverse, with individuals hailing from companies from Holland & Knight to Mayo Clinic to CSX. Prime Realty’s CEO Tyler Saldutti is honored to be added to this years list!
Developers are going all out, offering potential residents more than just a rental apartment, but a full living experience!
New construction has not followed the decrease in vacancy leading to a supply problem that could hurt the city attracting companies that would need a large block of space.
The Elks Building in Downtown Jacksonville sold for $4.5 million on Friday to a California buyer, according to the broker representing the seller.
Matthew Clark, vice president with Prime Realty Services, said Randy Dieu bought the property that is about 92 percent leased. There’s about 2,200 square feet of space available for lease in the building, he said. The price per square foot was $158.43.The about 28,400 square-foot building located at 201 N. Laura St. wasn’t always an easy spot to lease, Clark said.
A Beach Boulevard business center sold for $4.7 million Monday, according to the broker who put the deal together.
Tyler Saldutti, CEO and founder of Prime Realty, said the Millennium Business Center, 11744 Beach Blvd, is 100 percent leased. The Beach Center llc. sold the property to Millennium Business Center llc.
Listed are six suggestions on how a property owner can be proactive regarding insurance claims.
Freddie Mac: Increase in Multifamily Demand More than a Temporary Correction Stemming from Great Recession
By Mark Heschmeyer
Matthew Clark lives and works Downtown and wouldn’t have it any other way.
