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How to Choose the Best Commercial Real Estate Firm

How to Choose the Best Commercial Real Estate Firm

Electing a partner in your real estate endeavors is not an easy task. With a growing number of diverse commercial real estate firms available to choose from, it’s important to keep a few priorities in mind when searching for your perfect fit:

Only Deal with Experts

To get the most out of a real estate firm, you’ll want to be able to utilize experts. Many real estate firms offer a catchall system; they don’t offer experienced, specialized brokers that will cater to your exact needs. The right firm will connect you with brokers that specialize in the type of real estate that you’re looking for—whether that be office, retail, industrial, or multifamily—and have measurable track records. 

Look for Consistency

Consistency separates a good real estate firm from an exceptional one. The best real estate firms to work with are those that provide a single point of contact (e.g., a specialized broker) and demonstrate genuine accountability through best practices and standards of procedure. Their expert brokers will know that your loyalty must be earned—they will make sure that you aren’t lost in the shuffle, as so many clients are, and that you know exactly what you can expect from them, giving you peace of mind that you are dealing with a seasoned professional.

Avoid Conflicts and Hidden Relationships

You deserve to be a firm’s first responsibility. Independent real estate firms offer an advantage many other firms cannot: no conflicts and no hidden relationships. What you see is what you get—the best broker to fit your needs, no matter what. In the ever-changing environment of real estate, adaptability is key. Independent firms have the freedom to give you the decision-making power without the policies and politics that come with other firms. An independent firm will offer total alignment, meaning its brokers and staff work together towards the common goal of providing you with the best service and expertise to produce real results.

Now imagine your perfect experience with a real estate firm. Are you working with the most knowledgeable broker in the market? Is their goal to maximize your value? Are they respecting and protecting your interests, not their own? Prime Realty’s mission and commitment is to rank your needs above all else; it’s what makes us different. Our firm of independent real estate brokers have a shared objective of being paramount at what they do and in the services they provide. We make sure you are in control and that you are our primary priority—no excuses, no conflicts of interest, and no surprises. We’re on your side.

Prime Realty is under the direction of Tyler J Saldutti. Tyler is a fourth-generation real estate entrepreneur; and, prior to starting Prime Realty, was a top producer working for a global commercial real estate firm. He has consulted real estate owners and users from a wide range of industries and built a reputation for finding the best real estate solutions through creative deal structures and a project approach to each assignment. His team manages the real estate transaction process for clients; including, project coordination between tenants, building owners, local municipalities, federal agencies, financial institutions, attorneys, accountants, designers, contractors and engineers. Established and awarded as a top professional in his field, Tyler is able to deliver out-of-the-box solutions to complete projects, increase returns, and deliver timely results.

Contact Tyler Saldutti at tsaldutti@primerealtyinc.com to get started on your next real estate venture with Prime Realty.

What to look for when choosing a commercial real estate firm to represent you.

How to market your commercial real estate for lease

How to market your commercial real estate for lease

Top 5 Tips - How to market your commercial real estate for lease

Before you START marketing your commercial property for lease, consider these keys to success.

1 Have a lease contract prepared in advance

Your lease contract should reflect the type of building and its use. If you have an office building, a full service lease is industry standard; if you own a free standing restaurant building, a triple net lease would be required. Multi-tenant retail or flex space could use a modified gross lease.Additionally, having an appropriate lease contract prepared before finding a tenant can remove weeks of down time in the negotiating process. A good lease contract both protects your liability and maximizes your return on investment.

2 Stage the property

You only get one chance to make a first impression. Consider cleaning, landscaping, carpet and paint as marketing costs. Once the space is presentable, hire a professional photographer to help make the space stand out. Think about using 360 degree cameras and drones to create a unique marketing statement. In a competitive market, making your property stand out above the competition is a necessary investment.

3 Provide accurate floor plans and space measurements

An accurate floor plan can help streamline the leasing process. A potential tenant will use floor plans and other measurements to determine if the space fits their requirements. Once that tenant chooses your space, floor plans will be used by vendors, contractors, and others as a basis for renovations, buildout and technology infrastructure.  Accurate floor plans will also ensure that you are getting a precise measurement of the revenue and expenses per square foot for your investment.

4 Know your ideal tenant

A landlord/tenant relationship is a long term relationship, as commercial real estate leases are typically 3-5 years, often with options for extensions and renewals. Finding a tenant whose use for your building aligns with your investment goals is important. Additionally, you want to find a tenant that respects your property, operates with integrity and you enjoy doing business with. The right tenant is essential a successful real estate investment.

5 Hire a broker

A commercial real estate broker adds value to your real estate investment in many ways beyond putting your property on a listing service. A broker knows the market and how to present your property to the right potential tenants. Brokers also add value by handling the lease negotiation and renewal processes, and through their contacts with contractors and vendors that provide services to your building. A broker relationship should be viewed not as a transaction handler, but as a long term business partner with a shared goal of achieving your real estate investment goals.

For more information, contact Chas Lawrence at clawrence@primerrealtyinc.com or call 904.559.1618.

Top Five Tips To Leasing Your Commercial Property


4 Ways To Sell Your Commercial Real Estate

When selling commercial real estate there are several marketing strategies to choose from. Below I highlight four different ways to sell a property.

On-Market Sale.
This is a highly effective sales process focused on achieving the highest sales price for a property and by far the most common sale type for real property. Property information is gathered, marketing material is created and the property is marketed through all sales channels; including, multiple listing services, buyer lists, the brokerage network, open house events and targeted advertisements.

Off-Market Sale.  
This sale type is sometimes utilize by property owners that do you not want people to know their property is for sale for one reason or another. Property information is gathered and marketed to both individual direct buyers and brokers representing buyers. A confidential marketing process is followed. Candidates for this sale type are often property owners that have an operating business at the property.

Sale By Auction.
The focus in an auction scenario is speed and not necessarily sale price. Although, in a competitive auction environment both may be achieved. There is upfront marketing cost to advertise the auction and the strategy is focused on getting the market to show up to the auction.

Call For Offers.  
This sales type is used for properties that you know there is a pool of ready, willing and able buyers. A call for offers is a closed bid auction process. All property information is gathered and marketing material is distributed. A best and final bid date is set and the seller reviews all offers on that day.

When choosing a marketing process for your commercial real estate, it is important to determine the priority between price, speed, and confidentiality.


Prime Realty’s very own, Tyler Saldutti makes Jacksonville’s top 40 young upcoming leaders list!

As the leader of Jacksonville commercial real estate firm Prime Realty, Tyler Saldutti has seen his company grow exponentially as the market has rebounded. In the past 18 months, Prime Realty has more than doubled its staff to meet client demand.

"We've attracted the very best talent in this city, mostly because of the culture fit" he said. "The strength of our firm comes from our diversity. A variety of backgrounds and beliefs help our team look at each challenge and opportunity from multiple perspectives."

Raised in New Jersey, Saldutti says real estate is in his blood. His father, grandfather, and uncle were all in development and construction. After working in south Florida and London, Saldutti moved to Jacksonville and began his firm.

The company takes a boutique approach to commercial real estate, he said, with high-quality services for a handful of clients.

"I have a passion to help people generate transgenerational wealth" he said. "They're trying to build something for the future and have something to pass on."

Saldutti has served as a judge for Jacksonville University's Dolphin Pitch and volunteers for Daniel Kids Foundation and the American Heart Association. He also started a community garden in Ponte Vedra.

-Tracy Jones

http://www.bizjournals.com/jacksonville/print-edition/2016/04/29/shaping-history-what-the-40-under-40-honorees-want.html?ana=e_jac_rdup&s=newsletter&ed=2016-05-02&u=zAaEzJiAOYaQhcptn8ERUbp0dX4&t=1462201068&j=72831582#g16

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!


2016 New Year’s Resolutions

Here are our wishes for Jacksonville in 2016...

 

 

Let's make it happen in 2016!

Our new year’s resolutions for Jacksonville, FL in 2016.


Jacksonville Sees a 31% Increase in Construction of Large Apartment Developments in 2015

Jacksonville Sees a 31% Increase in Construction of Large Apartment Developments in 2015

New apartment construction in Jacksonville, FL is experiencing a boom. 2,006 new rental units were delivered to the market in 2015, versus 1,531 in 2014, according to the Yardi Matrix database of large scale multi-family developments. That’s a whopping 31% increase year-over-year.

There were a total of 8 new buildings (of 50 or more units) completed in 2015 in Jacksonville and they look spectacular. The common denominator is, without a doubt, luxury — in the form of first-class amenities and high-quality design and finishes.

Developers are going all out, offering potential residents more than just a rental apartment, but a full living experience: coveted locations, beautifully-designed units, resort-style amenities, and common spaces specially created to provide an enhanced social experience for residents.

Step inside Jacksonville’s 8 largest rental developments completed in 2015 and see for yourself:

http://www.rentcafe.com/blog/rental-market/jacksonville-fl-largest-rental-developments-completed-in-2015/

Developers are going all out, offering potential residents more than just a rental apartment, but a full living experience!


Analysts See Multifamily Market Remaining Strong for Several More Years

Despite concerns over the large number of new apartment units being built across the country and high market valuations, the multifamily rental market continues to hum and may be on track for several more years of growth, according to the latest Freddie Mac Multifamily Outlook.

The multifamily sector was the first to recover following the Great Recession and new supply has been coming online at elevated levels ever since the 5-year streak of robust growth began.

Freddie Mac doesn’t see that abating any time soon. In fact, the government-sponsored entity reports supply will continue to enter the market at elevated levels and reach higher levels of apartment completions not seen since the 1980s.

Multifamily deliveries saw a spike in the first half 2015, mostly in the second quarter, when 285,000 units, annualized, entered the market, the highest level post-recession, according to Freddie Mac.

Renter demand for the new units has kept pace with new supply, calming concerns that growth might start to decelerate, Freddie Mac said.

Because of the improving economy, pent-up demand has started to release into the market, benefiting the rental sector. Freddie Mac said it expects the strong demand for multifamily units to continue in the years to come.

"It is now clear that the increase in multifamily demand is more than a temporary correction stemming from the Great Recession,” said Steve Guggenmos, senior director of Freddie Mac Multifamily investments and research. “Favorable demographic trends will support strong multifamily growth for several years. Individual market performance will vary based on the pace of new supply delivered to the market and local economic strength.”

Demand Holding Up

As of this summer, CoStar data showed national vacancies dropping below 4%, with year-over-year same-store rental growth at a solid 3.9%. Demand was holding up stronger than expected, extending the supply-demand balance.

If supply growth doesn’t accelerate further, or slows down while developers consider new projects, the current trend could keep vacancies low while bringing rental growth close to or above levels observed during the 2012 peak, according to analysts with CoStar Portfolio Strategy.

The current economic environment continues to favor renting over owning and that trend is supported by the most recent U.S. Census Bureau data and CoStar analysis.

The homeownership rate compressed to 63.4% in the second quarter after reaching 70% at the peak of the housing market. And the decline in homeownership has come with a soaring number of renters, now close to 43 million.

In addition, the share of older, formerly home-owning households that is now renting is increasing because of lifestyle and financial reasons. At the same time, factors like immigration, often underestimated, appear to be giving an ongoing boost to the renter pool.

Look for Variations at the Local Level

When the homeownership decline will end is still unclear. When it does happen, though, CoStar Portfolio Strategy analysts see it occurring first in metros where the economic recovery is above average and home prices are reasonably affordable. In places where homes are expensive relative to income, renting will be-at least for a while longer-the preferred choice.

Freddie Mac also expects multifamily market fundamentals to vary locally as new supply is dispersed across geographic areas, with conditions affected by new supply and economic drivers in particular metros.

For the majority of markets, current vacancy rates are favorable relative to historical averages, Freddie Mac said. Vacancies have trended upward but at a slower pace than predicted in 2015.

Rent growth is also mixed across markets and will further disperse as new supply enters the markets.

The Freddie Mac Multifamily Investment Index has steadily declined over the past few quarters as the growth in multifamily property prices outpaces net operating income (NOI) growth. The index indicates the current investment environment is comparable to that seen in 2004.

"Favorable multifamily investment opportunities along with a high volume of loans reaching maturity in the near term will continue to push origination volume up into 2016,” said Guggenmos.

For More Information CLICK HERE

Freddie Mac: Increase in Multifamily Demand More than a Temporary Correction Stemming from Great Recession
By Mark Heschmeyer


Big changes coming to Downtown architectural centerpiece,

Big changes coming to Downtown architectural centerpiece,

Matthew Clark lives and works Downtown and wouldn’t have it any other way. The vice president of prime retail services for Prime Realty is optimistic and inspired by Downtown Jacksonville’s growth over the last few years. He’s also excited that one of the properties he markets is getting a well-deserved upgrade to compete with the increased interest in Jacksonville’s urban-core real estate. The building, “100 North Laura” or “The Jacksonville Bank Building,” is a 10-story, 130,000 square-foot mixed-use building located on the corner of Laura and Forsyth streets. We recently caught up with Matthew to find out what’s on the horizon for this Downtown architectural centerpiece. - See more at: http://downtownjacksonville.org/blog/2015/09/17/big-changes-coming-to-downtown-architectual-centerpiece/#sthash.5TbW7nj3.dpuf

Tell me about 100 N. Laura St. – its history and use.

100 North Laura has always had a presence in the Jacksonville banking community. The building was built in the ’60s and was home to a large bank training facility and even had a drive-through. The drive-through entrance was on Laura Street and exited onto Forsyth Street where the restaurant space is currently. The tenancy in the building is made up of creatives and business professionals. I love that we have a photography studio, a tech start-up, a nonprofit and an attorney all on a single floor. The mix creates awesome synergy and, ultimately, a great community.

Why is now the time for renovations of the building?

The renovation plans for the building have taken a couple of years to bring to fruition. The good thing is we have been able to get a good sense of the tenants attracted to the building and modify our plans accordingly. In order to compete in the market, we need to deliver a product that doesn’t exist in Jacksonville – one that is truly unique. The influx and quality of office users coming into the market today expect and deserve the renovations.

What will the renovations entail?

Exterior renovations include replacing building awnings; replacing both the Laura and Forsyth streets’ entrances; transforming the loading dock on Laura Street into a hybrid storefront, which will serve as the 24/7 access for Anytime Fitness; waterproofing and painting the entire building; installing an exterior, variable colored LED up-lighting system so we will be able to coordinate the building colors with holidays and special events; and replacing all exterior signage.

Interior renovations include an overhaul of the lobby, combining the aesthetic of a boutique hotel with the progressive feel of a tech start up; installing wood-coffered ceilings, with LED pendant lighting and recessed lighting; installing all-new flooring, with porcelain tile throughout, walk off carpets at both main entries and carpet tiles defining new collaborative seating areas; adding wayward signage and televisions for up-to-the minute building and local information, as well as a new security system; modernizing the elevators; and installing private bathrooms with showers in the lobby, along with lockers and bike storage for tenants who walk or bike to work.

Any new tenants you’re excited about?

We are finalizing the retail space and look forward to their announcement in the near future.

Why is the renovation of this building so important to Downtown?

For the last couple of years, this building has increased occupancy with a mix of creative and executive professionals. The renovation is symbolic of the building’s success and Downtown’s success. More and more businesses and their employees want to be a part of the change Downtown. We hope the renovation of the building enhances the retail and office experience in Downtown Jacksonville.

Why would you recommend someone move their business to Downtown?

Downtown has unique office options that can’t be found in other areas of Jacksonville. There is a wide variety of business resources concentrated within walking distance of virtually all Downtown office space. The beauty of doing business in Downtown is it’s small enough for people to feel connected but large enough to give a business everything it needs to thrive.

What have you noticed as far as the interest in Downtown real estate?

The energy and momentum is here. I have investors from Atlanta and California who see the difference in the activity Downtown today compared to a few years ago. Retail lease rates in the core are up 50-60% over leases signed just a few years ago. As the cumulative mass of retail in the core continues to grow, it will only help attract more office users. I have a couple of properties in the core that are more than 95% leased.

What do you love about Downtown personally?

I have always loved the hustle and bustle of an urban environment. I actually live Downtown. My home is a loft apartment in a 100-year old building. I walk outside my front door, and I am minutes away from restaurants, bars, the Florida Theatre and EverBank Field. When I walk my dog, I always bump into someone I know. If people don’t remember my name, they definitely remember my dog, Darby. I love that because it means we’re a part of a great neighborhood.

Click Here to go to Downtown Jacksonville Blog.

Matthew Clark lives and works Downtown and wouldn’t have it any other way.


Top Golf Coming to the Jacksonville Area

Top Golf Coming to the Jacksonville Area

The facility, which will have three stories and 65,000 square feet, is the second location in Florida for Topgolf after Tampa. The deal was completed through SRS Real Estate Partners' Orlando office.

The facility is an entertainment center in addition to a competitive golfing facility, offering a full food and drink menu, a number of flat-screen TVs, and 3,000 square feet of event space.

The location was a strategic decision for Topgolf, especially due to its proximity to major highways, according to John Artope, who represented Topgolf in the purchase.

“The location offers easy access to residents from I-295 with close proximity to St. Johns Town Center. We believe in this market’s strong demographics and its potential growth for the future," Artope said in a news release.

Topgolf will begin construction on the facility in the coming weeks, and expects to be ready to open by summer 2016.

Topgolf decided to come to Jacksonville for multiple reasons, including its demographic base and growing tourism industry.

“Jacksonville offers everything Topgolf looks for in a location — proximity to local corporations and a major shopping destination in St. Johns Town Center, fantastic demographics, a fast-growing population, a golfing community and a city that promotes outdoor recreation,” Topgolf Vice President of Real Estate Zach Shor said in the release.

The Jacksonville location also seeks to capitalize on the success the Tampa location has had already.

“Our Tampa location has already broken company records for attendance, and we see a lot of potential for our concept to grow in the state of Florida. Topgolf Jacksonville is the perfect destination to continue that expansion," Shor said.

Shor estimates that the facility will welcome 450,000 in its first year of business.

The anticipated economic impact from the facility is $264.5 million over the next 10 years. Topgolf will, additionally, create about 450 new jobs.

JaxUSA Partnership President Jerry Mallot said that Topgolf coming to Jacksonville is an endorsement of the community as a whole.

“Topgolf choosing Jacksonville for just its second location in Florida is another example of a national company recognizing the growth and strength of Northeast Florida’s economy,” Mallot said in the release. “When we’re talking to companies about the excellent quality of life in Northeast Florida, golf is always at the top of the list, and adding a Topgolf will boost our region as a golf destination.”

Written By: Alexa Epitropoulos of Jacksonville Business Journal

http://www.bizjournals.com/jacksonville/news/2015/09/18/topgolf-closes-on-15-acre-plot-of-land-near-the.html

Topgolf has closed on a 15-acre parcel of land near the St. Johns Town Center for its Jacksonville facility.


Prime Realty continues to attract Chinese investors to Jacksonville during Golden Week

Prime Realty continues to attract Chinese investors to Jacksonville during Golden Week

The first Golden Week of 2015 has just ended with a bang!

Nearly 5.2 million Chinese globetrotters travelled overseas from China during Golden Week 20154, and are estimated to have spent US$22.4 billion while vacationing abroad this year.4
That’s a US$4.73 million increase from last year!4

What’s more, data from China UnionPay – China’s only domestic bankcard organisation in China that is accepted in 141 countries and regions globally – revealed that overseas transactions by Chinese tourists increased nearly 50% year-on-year.5
Indeed, Chinese money is making its way around the world on an impressive magnitude, and this presents a fair shake to shrewd entrepreneurs who recognise that China is a vast well of untapped potential beyond hospitality and tourism sectors.

One such sector is real estate, which holds major Golden Week potential for property agents around the world.
Many property sellers around the world have come to notice that this is the time of "Fly ‘n Buy" customers looking to fit in property viewings during their holiday travel for purchase.

Chinese Fly ‘n Buy Clients

Here at Juwai, we often hear about these "Fly ‘n Buy" clients from customers. While peak travel seasons are well-suited for such buyers, they actually pop up year-round.
Coco Shelburne – of CoCo Shelburne Real Estate in Los Angeles – obviously knows this well and has positioned herself ahead in the game. Earlier this year, she closed on a high-security condo with a Chinese buyer from Beijing through Juwai.com.

“Rose emailed us while she was still in Beijing to seek a home to live in while her son was studying in Pasadena. Just 10 days later, we got an email – ‘I’m here,’ says Shelburne.
After showing Rose and her husband around to a selection of California properties, they fell in love with a perfect high-security condo home, and decided to make an offer the next day after a second viewing.

Not long after, Shelburne also scheduled several more viewings with Juwai Chinese buyers flying out to meet her, including in Athens, where she has a Greek business partner.
“That someone from China contacted us in the US to meet in Greece…that is a tricontinental transaction, and we thank Juwai for that. We’ve only been with Juwai for a few months, and already we’ve had several Chinese buyers contact us with budgets ranging from US$500,000 to US$3 million,” says Shelburne.
Click here to find out the impact of Golden Week on international realtors.

Cashing in on Chinese

Many countries have woken up to the economic power of the Chinese traveller, fervently implementing various Chinese-friendly methods to attract and expedite convenience for Chinese tourists – especially during the Golden Week mass travelling.
In the US, destinations popular with Chinese are pulling out all the stops to cater to Chinese culture and palates – such as California and New York.

Luxury hotels such as Trump SoHo New York and The Ritz-Carlton New York have been ardently courting Chinese tourists with Golden Week packages. At Beverly Hills in California, over half of its finest stores now employ staff well versed in Mandarin and Chinese culture, as well as accept credit cards from China’s UnionPay.1
It’s an intense fight for Chinese money, and we don’t blame them. After all, we’re talking about the world’s biggest spenders2, whose global tourist spending increased by 18% in 2014.3

California welcomed the largest tour group of 7,000 Chinese tourists to the US last year, whereby every single tour member splurged an average of US$10,000 in just seven days.1
Another country desiring Chinese arrivals is Spain, where Chinese trippers now reign supreme as the top holiday spenders.

Like in the US, Chinese cuisine and TV stations are now being offered in many Spanish hotels, while Spanish businesses are beginning to provide Chinese translated descriptions about their products.3
Even Spanish soccer giants Barcelona and Real Madrid are lending their star power by releasing a special Chinese New Year video to entice their massive fan base in China.3

 

Article Written by: Juwai- https://list.juwai.com/news/2015/03/hunting-for-fly-n-buy-chinese-this-golden-week-2015

Prime Realty continues to attract Chinese investors to Jacksonville during Golden Week


Bark - Opening Boutique at the Elks Building

Bark - Opening Boutique at the Elks Building

Jamee Yocum knows what dogs — and their owners — want.
As the founder of Bark, a doggy daycare, salon and boutique in Five Points, Yocum has been catering to Jacksonville's fur babies since 2009.

But now, Yocum is looking to spoil not just the city's furry friends, but its Downtown: A satellite location of Bark is opening on Adams Street by the end of the year.
“I knew that's what I wanted,” Yocum said of her Downtown move. “I've always wanted to be in areas that needed a little growth.”

Yocum said she now wants to join the growing legion of small businesses, artists and restauranteurs opening shop Downtown by launching her store's second location.
“I think it's such an awesome, expanding area,” she said. “I used to live there and it was hard. There was nothing to do Downtown. It was a dark area that has become more vibrant. Downtown needs small businesses to make it brighter.”

With her second store, Yocum said she especially wants to cater her operation to those who will use it most.

The 800-square-foot space next to The Carling will just be a boutique — not offering things like grooming and boarding so as not to compete with the services she offers in nearby Riverside. The space will sell dog supplies, accessories and food and will include delivery to high-rises and office buildings, Yokum said.

“I'm catering to the spoiled dog that wants constant attention,” she said, adding that she plans to carry that over to her Downtown store. “I want to make sure the dogs in the area are very well taken care of. They deserve it.”

Written by: Jensen Worley - Jacksonville Business Journal - http://bit.ly/1F12K8b

Matthew Clark of Prime Realty negotiated the lease for Bark to move to The Elks Building, "Excited for our new edition to the Elks Building. Jamee Yocum thank you for being a believer!". For more information about Bark, Please Click Here.

“I knew that’s what I wanted,” Yocum said of her Downtown move. “I’ve always wanted to be in areas that needed a little growth.”


Jacksonville, FL: A Few of the Reasons We Love Our City.

What is Great About Jax?!
September 2015

We at Prime Realty think Jacksonville is the ideal city with beaches, rivers, ports, small businesses and plenty of growth potential. We love reading about Jacksonville with all it has to offer and investing in its future. We have comprised a few recent articles about our city and all it has to offer.

Matt About Jax –A La Carte in Jacksonville Beach- Jacksonville.com
Last week, I heard about a little restaurant that is a secret hot spot located in Jacksonville Beach. With a new healthier and delicious menu, I couldn’t wait to try A La Carte, a boutique-style restaurant.
As soon as I met Jennifer Lobrano, the owner of A La Carte, I felt like I had known her for years. “I love the business, and I love people,” she said as she described herself. At First, A La Carte was a catering business that Lobrano started 23 years ago. She opened the restaurant for lunch 14 years ago, and last May, she decided the menu needed a facelift and major change. This is where the healthier A La Carte was born. You won’t find any fried food on this menu, and everything sounds amazing.
Award Winning New England Clam Chowder, Lobster Bisque, Baked Haddock Fish Sandwich with a Lemon Basil Butter Sauce and a Flank Steak Sandwich with Boursin Cheese are just a few of the items you can choose from for lunch. All of the sandwiches are served with Cape Cod Potato Chips, and there are gluten-free sandwiches offered as well. The cooking is unique at A La Carte, with Jennifer keeping the recipes a secret. “Everyone is after my clam chowder recipe but, no, they can’t have it,” she said with a smile.Jennifer and A La Carte remind me again how much I love my job.
Just look for the yellow seaside cottage and enjoy one of Jacksonville Beaches best-kept secrets.
http://jacksonville.com/entertainment/food-and-dining/2015-09-02/story/matt-about-jax-la-carte-jacksonville-beach

Got beer? Visit Jacksonville wins accolades for Ale Trail - Alexa Epitropoulos
Tourist development organization Visit Jacksonville is getting praise for promoting Jacksonville's craft beer scene.
The organization won a Henry Award for Niche Marketing at the annual Flagler Awards for its Jax Ale Trail campaign, which promoted Jacksonville's eight craft breweries.
The self-guided tour sought to introduce visitors to Jacksonville's burgeoning craft beer scene through providing them with a "brewery passport" and a map.
The breweries involved include Intuition Ale Works, Bold City Brewery, Aardwolf Brewing Co., Engine 15 Brewing Co., Green Room Brewing, Pinglehead Brewing Co., Veterans United Craft Brewery and Zeta Brewing.
The Ale Trail has been completed by 600 visitors in all, according to a news release.
http://www.bizjournals.com/jacksonville/blog/morning-edition/2015/09/got-beer-visit-jacksonville-wins-accolades-for-ale.html

Jacksonville company recognized for building Top Power Plant – Jensen Werley
APR Energy PLC (LSE: APR), a Jacksonville-based global power company, has been recognized for building one of the top gas power plants by Power magazine.
APR Energy's 102-megawatt Kyaukse project in Myanmar was installed in just 90 days, and is one of the largest thermal plants in the country, according to a company statement. The plant, fueled by local natural gas resources, provides power to 6 million people, in a country where nearly 42 million people don't have access to electricity.
“We are extremely honored to be named a Top Plants Award winner by Power magazine. Myanmar is a fast-growing economy with tremendous potential,” Clive Turton, managing director of APR Energy’s Asia Pacific region, said in a statement. “Our plant in Kyaukse provides the country access to reliable electricity, helping to fill a critical power gap where three-quarters of the population lack access to reliable electricity.”
Turton added that the plant was built by APR Energy employees and contractors, many of whom were local. APR Energy specializes in quickly building power stations in countries that do not have electricity infrastructure.
The contract for the Myanmar plant, signed in February 2014, marks the first agreement between the government of Myanmar and a U.S.-based company for power generation since sanctions were lifted two years ago.
http://www.bizjournals.com/jacksonville/news/2015/09/01/jacksonville-company-recognized-for-building-top.html

FSCJ named a 'best' community college in recent ranking – Alexa Epitropoulos
Local community college Florida State College at Jacksonville is among the best in the country, according to a recent WalletHub ranking. FSCJ came in at No. 84 on the list of best and worst community colleges, tying with Shoreline Community College in Washington.
FSCJ performed the best in the education outcomes and the career outcomes categories, ranking at No. 59 and No. 85 respectively. The Jacksonville community college was joined by several other Florida institutions, including North Florida Community College in Madison, Florida, which was ranked at No. 1 on the list. Chipola College and Broward College were also in the top 20.
The study cited community colleges as increasing in popularity and reputation, due to their affordability and flexibility.
http://www.bizjournals.com/jacksonville/blog/morning-edition/2015/09/fscj-named-a-bestcommunity-college-in-recent.html

What is Great About Jax?! We have comprised a few recent articles about our city and all it has to offer.


Team Prime hangs out with Daniel Kids

Team Prime hangs out with Daniel Kids

From Left to Right (Jordan Altenholf, Tyler Saldutti, Justin O’Brien, Sarah O’Brien, John Rutherford, Eric Yi) Not shown (Matthew Clark, Eric Bumgarner, Austin Kay)

Making Jax happen is a top priority in the Prime Realty office. There are many goals with in this company, but seeing Jacksonville grow and thrive is a top priority. Our #makeJAXhappen marketing campaign is focused on national market awareness and hometown pride for Jacksonville. We love seeing local businesses meet their goals and enjoy success. But growing Jacksonville cannot only be about the present, we need to invest in our future. “We believe that children and their well-being contribute heavily to the future of Jacksonville”, says Jordan Altenholf, Brokerage Coordinator at Prime Realty.

A lot of work went into selecting a group to work with and raise funds for. There are so many great non-profit organizations in the area, at the end of our research we found that not only do we live in an entrepreneurial city, we live in a very charitable and giving city. Once we started learning more about Daniel Kids, their history within Jacksonville and how many lives are positively touched through their many programs, we had to get involved.

Jordan headed our philanthropic efforts and worked with with the Donor Relations coordinator from Daniel Kids to construct an engagement program that includes volunteering, fund raising, and community awareness. We learned about their many programs available, which include but are not limited to; Residential services, community-based services, foster care, & independent living. 

Residential Services: Daniel’s Statewide In-Patient Psychiatric program (SIPP) provides children exhibiting the most severe symptoms of mental and emotional distress with intensive residential treatment over four- to six-month periods.

Community Based Services:    Journey to Success Program, Outpatient Mental Health, School-Based Behavioral Services, & Strengthening Ties & Empowering Parents

Foster Care: In an ideal world, all children would be able to live with their original families. Unfortunately, due to abuse or neglect some children must be temporarily removed from their homes. Other kids suffer from such severe emotional or behavioral problems that their families are not equipped to care for them in their present state. In both of these cases, Daniel is there to provide children with safe environments where they can heal and grow.

Independent Living: helps approximately 60 homeless youth each year by providing temporary residence in our twelve unit efficiency apartment complex or helping them secure other low-cost housing. Once these critical needs are met, the Daniel team teaches program participants enduring life skills including personal health and hygiene, how to obtain and maintain safe housing, how to comparative shop, how to make transportation arrangements, social skills, basic finance skills, banking and budgeting, job search skills, and employment stabilization.

The most important step was getting involved, this is where team Prime got the opportunity to spend the day with these great kids! Our team spent a Friday afternoon playing hockey, dodgeball, and basketball with the kids under the Daniel pavilion. It was a great team experience. “To say we had fun would be an understatement.” Says John Rutherford, Sales Associate at Prime Realty. We learned so much from the program, but getting to be a kid with these kids for the day was the real value. Prime looks forward to more community involvement in the future.

We look forward to fundraising for this wonderful local program and seeing it further improve our city.

Once we started learning more about Daniel Kids, their history within Jacksonville and how many lives are positively touched through their many programs, we had to get involved.


Neil Hemenway Negotiates the Purchase of a Single Tenant Investment Property

Neil Hemenway Negotiates the Purchase of a Single Tenant Investment Property

JACKSONVILLE, FLA –  2597 Oak St, a 4,810 SF retail property located in the riverside neighborhood of Jacksonville, sold on July 22nd for $440,000. Prime Realty’s Neil Hemenway represented the buyer, a local investor. The stand-alone building is currently leased to a day care operator. For more information on the sale, please contact Prime Realty at 904.245.1307.

2597 Oak St, a 4,810 SF retail property located in the riverside neighborhood of Jacksonville.


Prime Realty Negotiates Off-Market Sale

Prime Realty Negotiates Off-Market Sale

JACKSONVILLE, FLA –  Prime Realty’s Matthew Clark and Eric Bumgarner represented seller, Advanced Properties of North Florida, LTD on the sale of 2155 Corporate Square Blvd, Jacksonville, FL. The business park was sold for $590,000 to a local investor, represented by Prime Realty’s Neil Hemenway. “The Corporate Square sale was completely off-market. Matt and I represented the seller, and Neil represented the buyer. We brought the buyer and seller together, went into contract and closed within three weeks! This was a Power Sale!“- Eric Bumgarner. For more information about the sale of 2155 Corporate Sq. Blvd, please contact Matthew Clark, Neil Hemenway, or Eric Bumgarner.

For Immediate Release: Prime Realty negotiates off-market sale of 2155 Corporate Sq Blvd, Jacksonville, FL


Jacksonville Distribution Center Sold for Record-Setting $90 Million

Jacksonville Distribution Center Sold for Record-Setting  Million

The Jacksonville distribution center through which Coach Inc. ships everything its sells in North America has been bought by a Boston investor in a record-setting deal.

Cushman & Wakefield brokered the sale of the property near Jacksonville International Airport to Intercontinental Real Estate Corp., which paid $90.5 million — making it the largest non-portfolio industrial sale in the area since 2013

The 851,696-square-foot property went for $106 per square foot.

There was “significant interest” in the property, Cushman & Wakefield Executive Director Mike Davis told the Business Journal, with 10 offers getting narrowed down to three finalists.

“Selecting the buyer was a difficult decision,” he said.
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Coach (NYSE: COH) has used Jacksonville as its major North American distribution hub since the ‘90s, with its activity here bolstered by the 2005 arrival of Mitsui O.S.K. Lines Ltd., the parent company of terminal operator TraPac.

The New York City-based handbag and accessories maker has 13 years left on its lease, although Davis wouldn’t discuss details of the term.

The property went on the market about four or five months ago, with it taking about 60 days to settle on a buyer and another 60 to close.

“There’s just an incredible amount of capital worldwide that’s chasing cash flow yield,” Davis said. “This property certainly provides that — it’s a long term net lease with a marquee company.”

The center on 1 Coach Way was built in 1994, according to county records. Located on a 47.02-acre site, the property includes about 50,000 square feet of two story office space and a taxable value of $18.8 million.

The property is located inside the Jacksonville International Tradeport, also home to tenants and building owners such as Mercedes-Benz, Ecolab, and Corys Thunder.

Written by: Timothy Gibbons Editor in Chief- Jacksonville Business Journal

Jacksonville distribution center sold for record-setting $90 million. Written by: Jacksonville Business Journal


HEW - Before & After

HEW - Before & After

New Exercise Company Arrives in Jacksonville to Big Numbers!

Welcoming Hard Exercise Works
Mark and Elizabeth Jankovich moved to Jacksonville to franchise their San Marco area exercise facility Hard Exercise Works. With coach-monitored classes, modified moves for beginners, and 6am-7:30pm classes available, this really is the place for any trainer. This is their before and after journey!

Before

During Construction

After

It is always exciting to see new businesses thriving in Jacksonville, and were excited to see HEW make JAX happen! For more information on the classes contact Elizabeth Jankovich at (904) 570-9990.

Hard Exercise Works located on University Blvd, opened in May 2015 and this is their build out “before & after” story.


Austin Kay Negotiates the Sale of 1101 N Main St.

Austin Kay Negotiates the Sale of 1101 N Main St.

When Alyssa Key headed to New York to launch her Love Brigade brand, the going-away part could only be at one place: Club TSI, then located on Main Street.

Over the more than 10 years Key has been gone, the building near 2nd Street turned into The Pearl and then into a vacant structure. Now, Key is back in town, and the building is hers.

Key closed on the property, for which she is paying $260,000, on Tuesday. The deal was brokered by Prime Realty’s Austin Kay.

Former owner Will Kaiser, who paid $195,000 for the building last year, had plans to turn it into a yoga studio and eatery. Kaiser said those plans collapsed due to problems obtaining support from the city’s Northwest Economic Development Trust Fund, which provides capital for project development in Northwest Jacksonville.

Key will be putting more money into the structure, which is fairly well stripped out, she said. Upstairs will be studio space; downstairs will be retail and food, both with an artistic flair.

“I want the building to be used for fun — one more building used for the arts,” she said. “There isn’t really a place you can go and purchase things from local artists and fashion designers.” Upstairs will take about three months to build out, she said, with downstairs taking six more.

This isn’t the first time that Key, who is financing the buildout on her own, has been involved with real estate, including rennovating places in New York. The money for this project, in fact, comes from the sale of other property.

“I’ve always had something I’m running on the property side of things,” she said. “Buildings and the body are very similar.”

Written by: Timothy Gibbons, Jacksonville Business Journal

Austin Kay

Austin Kay Negotiates the Sale of 1101 N Main St. to Alyssa Key founder of fashion line, Love Brigade.


Hillary Clinton to Propose Increasing Capital Gains Taxes.

Hillary Clinton to Propose Increasing Capital Gains Taxes.

WASHINGTON (AP) — Hillary Rodham Clinton plans later this week to propose raising capital gains taxes for some investors, pivoting from a 2008 pledge not to increase the rate beyond 20 percent. The policy is part of a larger effort by her campaign to encourage greater focus on longer-term economic growth rather than more immediate gains for investors_a priority for the liberal Democrats she'll need in 2016. The new rates would be pegged to the duration of the investment, with short-term holdings taxed at a higher percentage.

In remarks on Facebook, Clinton also expanded on a promise to pursue criminal prosecution of bad actors on Wall Street, saying she would strengthen the power of government regulators and raise caps on compensation for financial whistleblowers. She also hinted at plans to modify the government fines corporations pay for wrongdoing so that the fees also target the bonuses of executives involved.
"Even though some institutions have paid fines and even admitted guilt, too often it seems like the people responsible get off with limited consequences (or none at all)," she said. "That's wrong and it has to change."

Clinton's tax proposal marks a shift from her 2008 campaign, when she promised not to raise capital gains rates higher than the 20 percent bracket established during her husband's administration. At the time, the rate was 15 percent — a result of the tax cuts championed by then-President George W. Bush.
"I wouldn't raise it above the 20 percent, if I raised it at all," Clinton said in an April 2008 debate.

Now, Clinton says a surge in companies focusing on shorter-term goals, like stock buybacks, rather than longer-range investments in employees and communities prompted her change in position. "The increase in short-termism has grown in urgency since 2008, and the urgency of our solutions has to match it," she said on Monday, in a question and answer session that Facebook hosted. Over his time in the White House, President Barack Obama has raised the capital gains rate for top earners to 23.8 percent — fulfilling a campaign promise to raise the tax.

Earlier this year, Obama proposed increasing the rate to 28 percent for the highest earners. While Clinton's proposal is still being finalized, her rate would likely be higher than Obama's plan for the shortest-held investments, according to a campaign official who spoke anonymously to discuss plans still being developed. Currently, gains on securities held for more than a year are taxed at the same rate as those held for decades. Many Democrats would like to see the rate go even higher, as part of a larger push by the party to crack down on what they see as Wall Street excess and to tackle income inequality.

Capital gains taxes disproportionally affect the wealthiest Americans. A study from the nonpartisan Tax Policy Center found that capital gains accounted for about half of the earnings of those making over $10 million_and just a fraction of those making less than $500,000.
Last month, Neera Tanden, the head of the liberal Center for American Progress and a prominent Clinton adviser, proposed a "sliding-scale" capital gains tax that would drop the rate charged the longer the security is held.

"Once an investor holds a share past the one-year mark, the tax code provides no incentives to maintain the position any longer," Tanden wrote, in a report co-authored by investment banker Blair Effron, co-founder of Centerview Partners. "A more flexible capital gains tax system could be a tool to incentivize more prudent behavior in equities markets."

Clinton's plan is part of a larger package aimed at tackling what she argues is too heavy an emphasis on quick corporate gains at the expense of workers and broader economic growth. In an economic address last week, Clinton decried what she termed the problem of "quarterly capitalism," saying businesses are paying too little attention to research and development, improving factories and cultivating talent.

"Now it's easy to try to cut costs by holding down or decreasing pay and other investments to inflate quarterly stock prices, but I would argue that's bad for business in the long run," she said. "Workers are assets. Investing in them pays off. Higher wages pay off. And training pays off."
Republicans knocked the plan, with Republican National Committee spokesman Michael Short saying Clinton is "proposing to grow Washington and the IRS by raising taxes."

Hillary Rodham Clinton plans later this week to propose raising capital gains taxes for some investors, pivoting from a 2008 pledge not to increase the rate beyond 20 percent. - Written by: US News LISA LERER


Becoming a Master Networker

Identify yourself
Where do you get your energy? Are you more introverted and refueled by time in solitude? Or are you more extraverted and refueled by being around others? Knowing what drains and energizes you can help you to maximize your personality, a key ingredient in successful networking. Being authentic and understanding your temperament allows you to strategically plan which professional networking events are the best fit for you long term.

Consider the timing
Perhaps you have more energy to offer others early in the day rather than at night after you’ve dealt with people all day. Perhaps you prefer small groups to large crowds. Perhaps you really want an opportunity to be in the front and center of a room. Whatever the case, the more clarity you have about your temperament and the role you prefer, the more likely you are to notice and choose sustainable — and enjoyable — networking outcomes.

Set goals
Your goals will most likely be shaped by you and your company. The needs and wants of both parties must be clarified and realistic with regard to your current and future job roles. You may use professional networking to meet new clients, develop leads and referrals, increase your social and civic influence or for many other valid reasons. Whatever your desired outcome, the more clear you are in your purpose, the better you can measure success. Are you focused on the long term or short term benefits of your relationships? Are you focused on networking internally or externally? Formally or informally?

Take a personality assessment
There are scores of tests available to identify your basic personality drives and motivation. Those tests aren’t boxes to contain you, but frameworks to help you understand and articulate your temperament. Each personality type has strengths and weaknesses, especially in social situations. Knowing what you have to offer can increase your confidence in a professional networking context.

Be confident
It’s important to build on your natural foundation and strengths. This can keep you from being unrealistic or frustrated. Remember, networking is not about comparing yourself to others and wishing you were wired differently. Networking is about building relationships. Focus on what you offer best and grow from that point.

Get feedback
How do you actually view networking? What are your honest perceptions? Consider a friend or colleague who appears to have excellent networking skills - what is his or her perception of business networking? What are the similarities and differences? Recognizing the gaps in your perception will give you the opportunity to face growth directly, while talking to a trusted, socially savvy colleague may provide insight about how to approach your unique situation and networking goals.

Know who you know
Identify your existing sphere of influence. Audit your emails, social media, phone, business card holder, etc. Chances are you know at least a few people already. Go through those contacts and categorize them by priority to reconnect. This should tie back to your goals.

Know who you don't know – yet
Make a short list of people you need to meet. Make a longer list of people you want to meet. You can work with co-workers, friends, your boss — whomever —and stragically identify networking forums of common interest. You might already know someone who knows somebody on your list.

Remember the Golden Rule
Treat others the way you would want to be treated. Be honest. Smile. Follow through with your stated intentions. Vocalize your gratitude for others’ time and efforts. Keep in mind that you’re dealing with a human being, not a human doing. People are not a status. This can relieve any pressure to overcome insecurity or assumptions that someone wouldn’t want to talk to you. You’ve got to be a friend to make a friend.

Know what you shouldn't do when networking
Avoid the common faux pas:
-Asking too much
-Failing to return favors
-Lacking gratitude
-Bad breath or offensive odor
-Card blasting, a.k.a. bombarding people with your business card
-Losing touch
-Only approaching contacts when you need something
-Mistreating or disrespecting anybody
-Not listening
-Taking before giving
-Faking it
-Pretending you’ve already met
-Confusing networking with direct selling

Article Written By: Jacksonville Business Journal - http://www.bizjournals.com/jacksonville/gallery/221202

Article Written By: Jacksonville Business Journal
Mastering the art of networking.


Chuck White & Efrain De Leon Negotiate Sale of Office Building

Chuck White & Efrain De Leon Negotiate Sale of Office Building

5711 Richard St, Jacksonville, FL a 12,809 SF office building off of Belfort Rd. sold on Friday June 26th for $660,000. Prime Realty represented the seller. Chuck White and Efrain De Leon took on the listing in March of this year. Suncoast Property Management LLC, a Florida residential investment company, is the new Owner/Operator of the office property. While the property is currently vacant, Suncoast will move into the building and this location will be their new headquarters. For those interested in the property, currently there is 3,000 SF of space available for lease.

“It was a pleasure doing business with Suncoast, I am sure he will be happy in his new home.” said Chuck White. For inquiries on the sale or the available space 3,000 SF please contact Chuck White at 904.515.2556.

Chuck White and Efrain De Leon negotiate the sale of 5711 Richard St.


Tyler Saldutti Makes Power Sale

Tyler Saldutti Makes Power Sale

95742 Amelia Concourse, Fernandina Beach, FL sold to a California investor on Friday for $1,060,000. The bank owned retail center was listed with Tyler Saldutti, Prime Realty CEO, in March of 2015 and sold in under 3 months to a California investor represented by Matthew Clark, VP of Prime Realty Retail Services. “We were able to produce multiple offers on the property and close on the sale within 90 days of listing.“ said Tyler Saldutti.

“This sale is a great example of investors coming to the NE Florida market from out of state willing to purchase at a more aggressive cap rate.” said Matthew Clark. The 10,080 retail center is approximately 90% occupied with one 1,260 SF end-cap available for lease. For more information about the sale or the available space please contact Prime Realty at 904.239.5269.

Tyler Saldutti Negotiates Power Sale in Fernandina Beach, FL


Prime Realty Continues to Grow and Expand.

Going from a team of 7 individuals to a team of 14 in under a year is exciting for everyone here at Prime Realty! We would like to offer a warm welcome to Justin O'Brien to Prime Retail and Eric Yi to Prime Industrial.

Eric Yi will join Vice President Eric Bumgarner, and AVP Joseph M. Turri on our Industrial brokerage efforts. He grew up in the Mandarin area of Jacksonville, and attended college at Florida State University, where he earned a bachelor’s degree in Sport Management.
Shortly after graduating, Eric returned to Jacksonville as a teacher at Darnell Cookman School of the Medical Arts and Assistant Head football coach at Stanton College Prep. After serving 3 years in the education field, he decided to pursue a career in commercial real estate and began an internship at Prime in March 2015.
Eric brings a passion for determining and understanding goals, developing and communicating an effective game plan, then taking the necessary steps to achieve those goals. He plans on using his ability to converse in Mandarin Chinese to help serve international clients.

Justin O'Brien will join Vice President Matthew Clark and Sales Associate Austin Kay on our Retail brokerage efforts. He was born and raised in Upstate New York and attended the University of Florida. Justin has spent two years overseas studying and working in Germany and Italy. He speaks conversational German.
Justin moved to Jacksonville and worked in direct sales before going into the financial services industry. His responsibilities included advising high net worth clients on trades and recommending securities. Justin is known for his passion to resolve problems and add value for clients.
Justin’s excitement about the growth in Jacksonville prompted him to change careers. He joined the Prime Realty team in June 2015 as a Sales Associate in the retail brokerage department.

We could not be more excited for what is to come and what our newest team members will bring to our commercial real estate effort. We are all here to make Jacksonville happen.

Prime Retail and Prime Industrial just got a little bit bigger as we welcome Justin O’Brien and Eric Yi.


Kane Capital Purchases 5th Florida Industrial Park

Kane Capital Purchases 5th Florida Industrial Park

Kane Capital Purchases 5th Florida Industrial Park

An investment group headed by Lee Kunz of Colorado closed about two weeks ago on Griffin Industrial Park, a five-building complex at 2200 NE 36th Ave. from E.A. Commercial Properties for $897,500, said Eric Bumgarner, vice president of industrial brokerage for Prime Realty in Jacksonville.

"This is their fifth property in Florida and they closed on that one pretty quickly, like 30 days," Bumgarner said. "We've putting a ton of money into it," Bumgarner added. "There's just a ton of deferred maintenance, painting, installing new lights and hooking everything up correctly."
Jordan Altenhof, brokerage coordinator with Prime Realty, identified the investment group as Kane Capital, LLC, and said Kane Kunz also is an investor.

Bumgarner said Griffin Industrial Park, which was built in 2003, has 36,200 square feet of building space and is about half-full with eight tenants. Angelica Day, owns Integrity Nutrition and Fitness, a tenant in Griffin Industrial Park. She described the changes since the property changed hands as "amazing."
"It was starting to look run-down and now it's starting to look lively," Day said. "They repainted the building," she said. "They put lights on the outside and in the back, which was much needed. They redid the pavement."

The Colorado investors recently began buying properties in Florida, Bumgarner said, as well as Illinois, Indiana and Michigan, because rising prices in their home state forced them to look elsewhere. "You can't get deals out there," he said. Kunz did not respond to a request for comment for this story.

Bumgarner said the new owners work quickly to refurbish their acquisitions in hopes of getting them back on the market. "Typically, we bring our other properties to 100 percent occupancy within four or five months," he said. Bumgarner said Ocala "is a little bit different" from other markets he and the Colorado group have entered so far. "It's a little bit softer market than other ones we've seen," he said. "That's why we have to be more aggressive to get it filled up."

Being more aggressive includes offering incentives. Bumgarner said he is offering 5 percent of gross lease value to any broker bringing a tenant to the complex. The typical offer is between 3 and 4 percent, he said. Bumgarner said he and the Colorado investors have high hopes for Marion County's market, adding he plans to look for additional deals here once Griffin Industrial Park gets "stabilized." "If there's a couple properties close to each other, that creates good deal synergy," he said.

Written by: By Richard Anguiano
Business editor

Click Here to Read Article.

Colorado investors recently bought an industrial park in northeast Ocala and have big plans for it, according to the Realtor working with the group.


Executive Magazine Ranks Florida #2 Best State For Business

Executive Magazine Ranks Florida #2 Best State For Business

More than 500 CEOs surveyed by Chief Executive Magazine agree that businesses flourish in the state's entrepreneurial climate.

High-profile deals like the one that’s bringing General Electric to Jacksonville are helping build Florida’s reputation as a go-to place for business development.

The Sunshine State came was given second-place ranking as the “Best State for Business”, second only to Texas, by Chief Executive Magazine, which surveyed more than 500 CEOs from across the U.S. based on a range of measures, from strength of workforce to taxation and regulatory climate to quality of life. Florida ranked first place for living environment in the same survey.

According to the rankings, Florida is on an upward trend with industrial development — like GE’s opening of a manufacturing plant within Jacksonville’s Cecil Center, which will bring 500 new jobs — helping to diversify Florida’s economy. Florida has multiple industries that are expanding, including technology, which is also becoming an increasingly important driver of the state’s growth, according to Chief Executive Magazine.

Florida has demonstrated its competitiveness in the economic development landscape in recent years, according to data collected by Enterprise Florida, the state’s economic development organization. From 2010 through 2014, Florida has seen a 23 percent increase in projects won, a 91 percent increase in new jobs associated with projects and a 133 percent increase in capital investment being brought to Florida’s communities.

Aside from the GE deal in Jacksonville, other projects that contributed to Florida’s ranking include the expansion of Northrop Grumman in St. Johns and Brevard counties; Verizon’s announcement of 350 additional jobs at its Lake Mary location; ground breaking on the new global headquarters for the Hertz corporation in Estero; and Navy Federal Credit Union — which also has a large presence on the First Coast — creating 5000 new positions in Pensacola.

 

Written By: Colleen Michele Jones
Jacksonville Business Journal

http://www.bizjournals.com/jacksonville/news/2015/05/29/how-jacksonville-helped-made-florida-second-best.html

Florida is on an upward trend with industrial development — like GE’s opening of a manufacturing plant within Jacksonville’s Cecil Center, which will bring 500 new jobs — helping to diversify Florida’s economy


Local Artist Makes One of a Kind Art for Prime Realty Office

Local Artist Makes One of a Kind Art for Prime Realty Office

Prime City - Local Artist Todd Rykaczewski

Each piece tells a story about our Prime branded colors and what each division of commercial real estate is bringing to Jacksonville. The art is a unique concept, with black and white photography and paint overlay.

We are all about making Jax happen, and a part of that is working with local talent and local companies. Please follow our lead to get out there and #makeJAXhappen! Find the cities local talent and help represent everything that is great about our city!

For more information about Artist Todd Rykaczewski go to www.wordrevolt.com or contact him at 904.888.5502  or  todd@wordrevolt.com.

Prime Realty has commissioned local artist Todd Rykaczewski to make 4 one of a kind paintings for our office.


Prime Celebrates a Great Start to 2015

Prime Celebrates a Great Start to 2015 at The Players

Prime Realty’s team is having a busy and successful first half of the year with 176,030 SF in total sales, and 107,656 SF in total lease agreements. Overall the company has seen over $14 Million in deal values since January. We are exceptionally proud of our team and its growth in the last year.


The retail team and Matthew Clark have established new relationships with Cato Fashion, Metro PCS, The Cathedral Arts Project, Papa Johns, The Loop Pizzeria & Grill, and Jimmy Johns. Bringing new business to Downtown, Nocatee, and Macclenny among other places in the area.
Our office team is building their available listings and filling the complexes we currently have to 100%. While our industrial team is seeing both sale and lease success so far this year with over $4 Million in total transactions.

Team Prime is looking forward to making Jax happen, and we find ourselves excited to see what more is to come from our team. Please remember to use #MakeJaxHappen when you see someone making it happen on the first coast.
Click Here to learn more about Team Prime.

January-May 2015 Transactions
• 176,030 SF in Sales
• 107,656 SF in Lease Transactions
• $14+ Million in Transactions

The Prime Realty Team Celebrates a Great Start to 2015 at The Players


Volkswagen Makes Jaxport its Southeast Distribution Center.

Volkswagen Makes Jaxport its Southeast Distribution Center

There are 1,000 new Volkswagen vehicles sitting at the Port of Jacksonville — but they're just a fraction of what's coming to the First Coast this week.

By next Wednesday, 5,000 new VWs will have made their way to Jacksonville, as part of the Volkswagen Group of America's decision to make Jacksonville its Southeast distribution center.

The 5,000 are the first of 100,000 that will be processed at Jaxport through vehicle processer Amports.

Over the course of the next week, five shipments of about 1,000 vehicles each will arrive, including not only the Beetles, Jettas and Golfs dropped off Wednesday, but also higher-end Audis and Bentleys.

“This is part of what we've been talking about,” said Vincent Cameron, president of International Longshoremen's Association Local No. 1408, whose members were driving the vehicles off the autoliner and to Amports to be processed. “More work. Once we get dredging, there will be even more to come.”

Cameron added that work like this goes to his men, who make a livable wage and then spend it in Jacksonville.

“More work like this,” he said, “means more money for the city.”

To be able to handle vehicles like these, which were manufactured in Mexico, means the longshoremen have to go through specialized training to drive them without incident. The foremen on the ship, Cameron said, have to be extra-engaged to manage the driving of the vehicles.

“We have quite a reputation for quality of vehicle handling,” said Nancy Rubin, senior director of communications for Jaxport.

She added that the Jaxport is the No. 1 exporter for vehicles in the country and one of the top importers. Last year, the port exported more than 450,000 vehicles. Rubin said that soon the port expects to be the top port for vehicles coming both in and out of the U.S.

Written By: Jensen Worley of The Jacksonville Business Journal  -  http://www.bizjournals.com/jacksonville/news/2015/04/29/first-load-of-volkswagens-arrive-at-jaxport-many.html

There are 1,000 new Volkswagen vehicles sitting at the Port of Jacksonville, by next Wednesday, 5,000 new VWs will have made their way to Jacksonville.


Hemming Park one of six to be awarded $100,000 grant

Hemming Park one of six to be awarded 0,000 grant

Downtown's Hemming Park is recipient of Southwest Airlines Heart of the Community Program Grant

Hemming Park was one of six organizations selected to receive a $100,000 grant from Southwest Airlines' Heart of the Community program, which gives public spaces the ability to "reimagine and activate" their area.

In addition to Jacksonville, Southwest awarded grants to public spaces in Fort Myers, Florida; Milwaukee, Wisconsin; Albuquerque, New Mexico; Portland, Maine and St. Louis, Missouri. It hopes to allow these urban spaces to thrive.

"We are thrilled to have been selected as a 2015 grant recipient with the Heart of the Community program and we look forward to working with Southwest Airlines, PPS and our local community," Friends of Hemming Park's executive director, Vince Cavin, said in a news release.

"With this generous support, we will continue to reimagine and reinvent Hemming Park as an exciting and inviting public space for everyone living in or visiting Jacksonville."
Friends of Hemming Park has been leading a long-term effort to transform the space for the better, including transitioning the name from Hemming Plaza to Hemming Park.

Original Article Written By: Alexa Epitropoulos
Digital Producer-
Jacksonville Business Journal

http://www.bizjournals.com/jacksonville/news/2015/04/23/hemming-park-one-of-six-to-be-awarded-100-000.html

Friends of Hemming Park has a little more funding to work with thanks to a grant given by a major airline.
Hemming Park was one of six organizations selected to receive a $100,000 grant from Southwest Airlines’ Heart of the Community program, which gives public spaces the ability to “reimagine and activate” their area.


Professional Soccer is a Hit in Jacksonville

Professional Soccer is a Hit in Jacksonville

Alexa Epitropoulos
Digital Producer- Jacksonville Business Journal
Full Article Here

The Jacksonville Armada's first regular season game went along with the team's reputation for breaking attendance records – 16,164 fans piled into EverBank Field to celebrate Saturday's match.

The Armada, which won a decisive 3-0 victory against FC Edmonton at the game, scored its first goal almost immediately, pleasing fans who came out for both the evening game and the Can-Doo Festival that kicked off at noon.

It is the first year for the Armada, which debuted as part of the North American Soccer League earlier in the year, but its first game attendance trounces the previous league record of 14,593 in Ottawa last summer.

The Armada had previously set a preseason attendance record of 13,934 in its 3-1 win over the Philadelphia Union at EverBank Field, which was held on Feb. 7. Armada leadership had set out to expand attendance through its Set the Record Jax campaign, which encouraged businesses to buy in bulk for clients and employees.

The Jacksonville Armada FC is welcomed with huge support from fans.


Prime Realty and Brokers Recognized by CoStar 2014 Power Broker List

Congratulations to Matthew Clark, Eric Bumgarner and Team Prime!

Prime Realty's Vice President of Retail Brokerage Matthew Clark and the Vice President of Industrial Brokerage Eric Bumgarner were recognized for being top leasing brokers in Jacksonville for 2014. It was a successful and productive year for both brokers as well as Prime Realty and we could not be more excited for what our team will be doing in 2015. Congratulations Matt, Eric and Team Prime.

Top Leasing Firms

Prime Realty Inc

Top Office Leasing Brokers
Top Retail Leasing Brokers

Matt Clark


Top Industrial Leasing Brokers

Eric Bumgarner

Congratulations to Matthew Clark, Eric Bumgarner and Team Prime!


Town Center to celebrate ten year anniversary

St. Johns Town Center to celebrate ten year anniversary
Mar 20, 2015, 8:07am EDT

Written by Alexa Epitropoulos, Digital Producer- Jacksonville Business Journal

 

It's difficult to believe that what started as a vacant plot of land on the Southside, near the University of North Florida, has become an epicenter of activity in Duval County.

But now, as the Town Center rings in ten years and features stores from Louis Vuitton to Urban Outfitters to the first Nordstrom in Northeast Florida, it's easy to see the impact.

The Simon Property Group signature location boasts 168 stores, 25 restaurants and no vacancies.

Now in its third phase, the Town Center shows few signs of stopping. More developments are coming to the area, and new stores at the Town Center are still getting attention.

In order to commemorate 10 years, here are some of the highlights of the Town Center's last few years:

Massive mixed-use project in the works for land near the Town Center

How the St. Johns Town Center finally brought Nordstrom to Jacksonville

St. Johns Town Center announces new shops

Ben Carter selling his half of St. Johns Town Center

New Town Center area apartments to include dog park, yoga lawn

Big box, big deal: What Nordstrom opening means for Northeast Florida

The Town Center will officially celebrate its 10 year on Saturday 3-21-15 between 3 p.m. and 9 p.m. along River City Drive.

http://bit.ly/1H9kES6

St. Johns Town Center to celebrate ten year anniversary.

What a difference 10 years makes.


Square Feet: Eric Bumgarner of Prime Realty Delivers for Kane Capital

Square Feet: Eric Bumgarner of Prime Realty Delivers for Kane Capital

Eric Bumgarner of Prime Realty has represented Kane Capital LLC in the recent purchase of several Florida properties.  The transactions included buildings located at 2611 Old Middleburg Rd., Jacksonville and 1528 Virgils Way, Green Cove Springs, as well as properties located in Melbourne and Tampa.

Eric’s client in these purchases is Kane Kunz, the Founding Manager and Owner of Kane Capital LLC. Since being founded in October 2013, Kane Capital LLC--along with other entities owned and managed by Kane Kunz--has built a portfolio of industrial parks across Florida and Michigan totaling 16 buildings. Although based in Denver, all of their acquisitions have been out of state.

Kane Kunz is effusive in his praise of Mr. Bumgarner,  “Eric … has created an incredible amount of value due to his hard work, intelligence, and general work ethic!” 

Eric and Prime Realty continue to scour the market for opportunities as exclusive agent for Kane Capital LLC

2280 Avocado Ave Melbourne, FL 32935

1528 Virgils Way Green Cove Springs, FL 32043

Published by NAIOP of NE Florida: Square Feet Jacksonville's CRE News Source

Jacksonville’s Commercial Real Estate News Source on Kane Capital and Eric Bumgarner


Prime Realty’s #makeJAXhappen Property Tour 2015

Prime Realty’s #makeJAXhappen Property Tour 2015

Prime Realty Launches Marketing Campaign Promoting Northeast Florida.
“I am so excited to announce our new campaign to make Jacksonville the city that is being talked about around the world as being the place people want to live, work and play. Check in from time to time to see what is new at makeJAXhappen.com and remember to use ‪#‎makeJAXhappen on your Jacksonville related posts. I invite you to Make JAX Happen!” - Tyler Saldutti, Founder/CEO‬

Our team of world class entrepreneurs are active in our community making business happen and creating new opportunities in our community. We assist the process of starting, growing, or repositioning a business or organization and take responsibility for its success. Team Prime Realty got together for our first #makeJAXhappen property tour. All twelve of us traveled around Jacksonville to a few of our listed properties on an East Coast Transportation luxury charter bus. Giving all agents and support staff a chance to see what everyone is currently working on.

March 17, 2015 was the start of Prime Realty’s annual #makeJAXhappen property tour. Our itinerary included a nice mix of office, industrial, multifamily and retail properties. First stop was a recent Multifamily sale for Neil Hemenway and John Rutherford at 931 Cedar St.

Next stop on our tour we got to see 1037 Park St in riverside with Matthew Clark. He got to explain to the team all of the plans for 5 points in the near future.

While we were in 5 points we made a quick stop at Matt’s recently opened tenant Alewife!

From 5 points we headed to the Westside to see an industrial listing as well as a little more retail. 7060 103rd St is managed by Prime Realty and Tiffany Lane and leased by Eric Bumgarner and Joseph M. Turri. We got to meet some of our tenants Favre Motorcycles and GU Allstars.

From the Westside we made the trip downtown to see a few Forsythe St mix-use projects. 331 Forsythe St and 120 Forsythe St. Here Matthew Clark spent some time explaining all that is coming to the downtown area.

Overall the #makeJAXhappen property tour of 2015 was successful on multiple levels. Mostly the team learned about eachothers projects and I think we are all excited about what is to come here in Jacksonville, FL.

#makeJAXhappen Prime Realty Launches Marketing Campaign Promoting Northeast Florida.


Prime Realty’s Austin Kay Negotiates the Sale of a Retail Suite

Prime Realty’s Austin Kay Negotiates the Sale of a Retail Suite

Prime Realty, one of Jacksonville’s leading commercial real estate brokerage firms, announced today that Austin Kay assisted in the sale of a commercial retail space at 3546 St Johns Bluff Rd. #118 Jacksonville, FL.

The 2,000 SF space contains has an open floor plan and ample parking with signage on St Johns Bluff Rd. Built in 2006, the retail space is fully airconditioned with a 5 ton AC unit. The sale closed on 3/4/2015 and sold for $179,900 to a local sports retailer, Go Pro Tennis Shop.

Retail Sales Associate Austin Kay started at Prime Realty exactly two weeks prior to closing date. This is his first sale with Prime Realty and we look forward to seeing Austin continue to learn and grow in the Retail Industry.

For more information about this transaction or Prime Realty, please contact our office at 904.352.1400.

Prime Realty, one of Jacksonville’s leading commercial real estate brokerage firms, announced today that it assisted in the sale of a commercial retail space at 3546 St Johns Bluff Rd. #118 Jacksonville, FL.


Neil Hemenway Negotiates the Sale of a Jacksonville Office Condo.

Neil Hemenway Negotiates the Sale of a Jacksonville Office Condo.

Prime Realty, one of Jacksonville’s leading commercial real estate brokerage firms, announced today that it assisted in the sale of a commercial office condo located at 7807 Baymeadows Rd. Suite 202 Jacksonville, FL.

The 1,682 SF office condo was built in 2006 and remodeled in 2013. The sale closed on 2/13/2015 for $181 per square foot and was the first sale in Hampton Professional Park since October 2013.

For more information about this transaction on Prime Realty, please contact our office at 904.352.1400.

Prime Realty, one of Jacksonville’s leading commercial real estate brokerage firms, announced today that it assisted in the sale of a commercial office condo located at 7807 Baymeadows Rd. Suite 202 Jacksonville, FL.


Industrial Vice President Eric Bumgarner Lists Body Central Facility

Industrial Vice President Eric Bumgarner Lists Body Central Facility

The former headquarters and distribution center for Body Central Corp. went up for sale today with a list price of nearly $5 million.

The listing comes a month after the company was forced to close all its stores after going bankrupt.

The building, at 6225 Powers Ave., is 116,901 square feet, including about 28,000 square feet of office space, according to county records.

Prime Realty's Eric Bumgarner, vice president of industrial brokerage, is the exclusive broker for the owner of the building, Powers Avenue LCC, which is managed by Beth Angelo, former chief marketing officer of the company.

Angelo is the daughter of Jerrold Rosenbaum, the founder of the company who served as the president and CEO until the Rosenbaum family sold a controlling interest in the company in 2006 to a group of investors led by WestView Capital Partners, which later took the company public.

At that same time, the company sold the building to the private equity firm for $1.15 million and then leased it back in a 10-year deal, Bumgarner said.

Body Central is in the process of liquidating assets and preparing remaining inventory and office equipment for auction.

The auction at the company's headquarters will begin at 10 a.m. March 10 with a preview the day before. Items will also be auctioned online at Moecker Auctions Inc.'s website.

The items being auctioned include IT equipment, computer systems, laptops, iPhones, warehouse equipment, forklifts, office furniture and office equipment. Clothing, accessories and the point-of-sale and security systems will be sold separately before the auction.

Vice President of Industrial Services - Eric Bumgarner

This story was originally written by Andrew Thurlow - http://www.bizjournals.com/jacksonville/news/2015/02/24/body-central-headquarters-goes-on-market-for-5.html?s=image_gallery

The former headquarters and distribution center for Body Central Corp. went up for sale today with a list price of nearly $5 million.


Veteran Broker Chuck White Joins Prime Realty

Veteran Broker Chuck White Joins Prime Realty

When real estate veteran Chuck White decided to get back into the business, he didn't have much trouble finding a job — or, rather, selecting from the handful of offers that showed up at his feet.

It was an easy decision to go with Prime Realty, the full-service commercial real estate firm run by CEO Tyler Saldutti, who worked for White when he was the owner and president of NAI Commercial Jacksonville.

"When I went on the Web and saw all these young guys ... they opened a door to a whole new world of technology," White said.

White, 60, has a long track record in commercial real estate, working at a variety of companies in the Jacksonville area. He began his career in the early 1980s with CBRE as an associate broker and left as a vice president. In 2002, he formed his own company called Commercial Jacksonville, which operated in coalition with Cushman and Wakefield.

He was named Office Broker of the Year for 2003 and 2004 by NAIOP's Northeast Florida chapter. White was president of NAIOP in 2008.

"Like anything else, you become dinosaurs to your profession," he said. "I listen to these guys and soak it in."

White joined Prime Realty after a four-year stretch as a conservative radio show host while working as CEO of Commercial Jacksonville, excluding a brief stint with Hallmark Partners in late 2011.

Nowadays, everything is computerized and programs are run on an open format — as opposed to using proprietary software programs, which he said made the job more competitive but not in a good way.

"Commercial real estate hadn't run like that with the older generation. It [open format] stops you from interfering with other brokers' deals, and provides updated information on a platform that allows the whole staff access."

"It creates an openness and synergy in an office that we didn't use to have," he said.

As the oldest broker in the office by about 30 years, White said more companies in the industry should be more open-minded to age integration.

"It's a forward-thinking trend on a small scale that should get larger," he said. "Other brokers have teamed up with younger ones to offer a better overview of the market ... there's a nice blend that comes together."

Saldutti, 33, echoed the same sentiment: "With Chuck's experience and know-how backed by our cutting-edge marketing platform, we're able to offer the most effective leasing and sales services to office properties in the marketplace."

Written by: Andrew Thurlow with the Jacksonville Business Journal. http://www.bizjournals.com/jacksonville/print-edition/2015/02/06/jackson-likes-working-outside-the-box-in-new.html

When real estate veteran Chuck White decided to get back into the business, he didn’t have much trouble finding a job — or, rather, selecting from the handful of offers that showed up at his feet.


Prime Realty Associates Attend Day of Service during Holiday Season

Prime Realty Associates Attend Day of Service during Holiday Season

The holidays are a time for family and friends, but it is also a time for giving and helping others. The City Rescue Mission is a great local cause that helps those in need with a place to eat, sleep and clean up. As a matter of fact their mission statement includes, “soup, soap and salvation”. Matthew Clark, our Vice President of retail services contacted the rescue mission in hopes of giving back during the holiday season. As with most things at Prime, it turned into a group effort.

We believe team building is extremely important to the success of each individual team member. With smiles on our faces and a desire to bring a little fun and happiness to those who needed help this holiday season, we spent our afternoon working together to serve food and help clean up. It was a great opportunity to work together to give back to the community, and we hope to make this a tradition.

For more information about City Rescue Mission please go to http://www.crmjax.org/. The organization is located at 234 W. State St., Jacksonville, FL 32202.

Prime Realty’s team volunteered their time at City Rescue Mission in December 2014


Tampa FL Multi-Family Conference

Tampa FL Multi-Family Conference

Prime Realty’s Multi-Family housing team lead by Neil Hemenway, Vice President of Multi-Family Brokerage Services, brought Jacksonville real estate and Prime Realty to Tampa, Florida this December. They joined over 300 owners, investors, and developers located across central and northern Florida at the Marcus & Millichap/IPA Multifamily Forum: Central Florida on December 3rd. With over 30 speakers from top investment and development firms across the city, state and country including the Carroll Organization, Kolter Group, Waypoint Residential, Landmark Apartments, and Convergent Capital.

“These events continue to help us further our understanding and reach into the Central and South Florida markets. It was also a great opportunity to catch up with some familiar faces all the while meeting some new ones.“ -John Rutherford, Prime Realty Sales Associate.

These conferences are looked at as a marketing and educational opportunity for our team. We enjoy making the new connections and learning new trends in the industry. Topics focused on strong operations execution as it specifically relates to value-add acquisition strategy, and the growing trends of millennials and baby-boomers in the downtown central Florida markets.

“We assist property owners throughout Florida and Georgia and rarely get to meet. These conferences are a great opportunity to schedule some face time with the property owners and investors we are working with.” Neil Hemenway.

Our multi-family team Neil Hemenway and John Rutherford attend a Tampa Florida commercial real estate conference.


Neil Hemenway and John Rutherford Facilitate Off Market Apartment Sale

Neil Hemenway and John Rutherford Facilitate Off Market Apartment Sale

JACKSONVILLE, FLA – Prime Realty is pleased to have negotiated the off-market sale of 931 Cedar St a seven unit apartment building in the San Marco neighborhood of Jacksonville. The 4,862 SF building was built in 1941 and contains (5) one bedroom units and (2) studios with an average rent of $875.00.

The apartment building is 100% occupied and sold for $550,000 in a off market deal. The seller has owned the property since 1971 and was interested to see a market value sale in less than six weeks. “We were especially pleased to represent the long-term owner in the quick sale of this distinguished San Marco property” - Prime Realty’s John Rutherford.

For more information about Prime Realty or the sale, please contact Neil Hemenway or John Rutherford.

Prime Realty’s Neil Hemenway and John Rutherford Represent Local Apartment Owner for Sale to Private Canadian Investor.


Prime Realty Represents Jacksonville Florida at Trade Summits

Prime Realty Represents Jacksonville Florida at Trade Summits

Prime Realty expands its presence in October 2014 attending both the FCMA Summit at Amelia Island and the Florida Multi Family Summit in Miami. Our team had the opportunity to learn from multiple keynote speakers, meet new professionals, and bring awareness to Jacksonville investment opportunities.

Florida Multifamily Summit – Miami FL

The Multi-Family Brokerage Services team Neil Hemenway and John Rutherford as well as Prime Realty’s CEO Tyler Saldutti spent a weekend in Miami for this great event. Over 600 investors, owners, developers, and other principals came together for a full day of education along with a networking breakfast, lunch, and post-conference cocktail reception. This conference brought together Florida’s most influential multifamily leaders to discuss the latest industry trends in development, the debt and equity landscape and the condo conversion market. The conference was a beneficial learning experience for the team with topics like, “2014 Private Capital: Get Your Money Out of the Mattress” and “Strategy Adjustment: Condo Conversions?”.

FCMA Summit at Amelia Island


Our Industrial team Eric Bumgarner and Joseph M. Turri attended the FCMA Summit this October. With educational topics like “Sharing Best Management Practices – From Injury Prevention to Conservation”, “ISO in an Hour – Who needs it?”, and “Strategies for Engaging Tomorrows Workforce” there was a lot to learn about. The conference was held at the Ritz Carlton in Amelia Island, and with new connections made and plenty of new information to retain this was a successful networking event.

With all of the great networking opportunities and the ability to make Jacksonville’s investment opportunities known Prime Realty is pleased to have made it to both conferences this October!

Prime Realty expands its presence in October 2014 attending both the FCMA Summit at Amelia Island and the Florida Multi Family Summit in Miami. Our team had the opportunity to learn from multiple keynote speakers, meet new professionals, and bring awareness to Jacksonville investment opportunities.


Neil Hemenway Negotiates the Purchase of Regency Park

Neil Hemenway Negotiates the Purchase of Regency Park

JACKSONVILLE, FLA – Prime Realty is pleased to have negotiated the purchase of the bank owned Regency Park, a mobile home park located in the Southside submarket of Jacksonville FL. Neil Hemenway, Vice President of Multi-Family  Brokerage Services, represented a local investor through the transaction.


The new owners plan to rehab and reposition the nine acre park and it will be open to new renters in the coming weeks. The park has 92 pad sites and contained 58 homes at the time of sale. “Based on its location and price, we feel the buyer got a great deal. The park has a lot of potential and will make a great addition to the owner’s investment portfolio”, says Neil Hemenway. If you would like more information on the sale or Regency Park, please contact Prime Realty at 904-252-1525.

Prime Realty is pleased to have negotiated the purchase of the bank owned Regency Park, a mobile home park located in the Southside submarket of Jacksonville FL. Neil Hemenway, Vice President of Multi-Family Brokerage Services, represented a local investor through the transaction.


Jacksonville tops the list of 2014 best cities to start a business

Jacksonville tops the list of 2014 best cities to start a business

Jacksonville ranked No. 1 on Wallet Hub’s best cities to start a business list, which examined 14 metrics including five-year survival rate and the affordability of office space to the educational background of the local labor force.

“Where Florida begins” just so happens to be where small business begins these days, according to the news release from Wallet Hub. It said Jacksonville boasts the country’s second-highest five-year small business survival rate in the country as well as attractive corporate tax rates, a bountiful labor force and fairly accessible small business funding.

Jacksonville’s high ranking as an entrepreneurial destination mirrors expectations for strong growth throughout the city’s economy in 2014, buoyed by hiring in the construction and professional services industries.

Once again mentioned was  Jacksonville’s burgeoning start-up community. The scene has been growing for some time with the help of  incubators like The Factory and  events like One Spark.

Catherine Byerly
Digital Producer- Jacksonville Business Journal

 

Full story

http://www.bizjournals.com/jacksonville/blog/morning-edition/2014/03/jacksonville-tops-the-list-of-2014-best-cities-to.html

Jacksonville is #1 city to start a business…


Matthew Clark leases 5 Points location to Happy Grill Cheese

"The Happy Grilled Cheese food truck's decision to go brick and mortar in Riverside solidifies the areas increase in popularity." Matthew Clark- Prime Realty

http://m.bizjournals.com/jacksonville/news/2014/06/09/exclusive-an-in-depth-look-at-what-the-happy.html?ana=e_jac_bn_exclusive&u=12442358144d51c12d793eece11666&t=1402332992&r=full


Saldutti sells 22,000 sf office condo to Craven Land Corporation

Saldutti sells 22,000 sf office condo to Craven Land Corporation

JACKSONVILLE, FL (June 4, 2014) – Prime Realty announced the sale of 22,000 square feet of commercial office space to Craven Land Corporation for the purchase price of $1,100,00.00. The two story building is located at 4237 Salisbury Road North in Jacksonville.
Prime Realty’s CEO, Tyler Saldutti, represented the landlord, Salisbury FSG, LLC, in the transaction.

“We were able to help the property owner sell his multi-tenant office building to an investor looking for a property with tenants in place and some existing cash flow. The gap between buyers and sellers expectations is shrinking and we expect to see investors close on similar office buildings this year.” said Tyler Saldutti, CEO of Prime Realty.


Two New Hires at Prime Realty

Joseph M. Turri
Date added:April 21, 2014
Submission Type:New Hire
Current employer:Prime Realty
Current title/position:Associate vice president of medical office sales and leasing
Industry:Commercial Real Estate
Position level:Broker
Duties/responsibilities:He has a background in development and more than 10 years' commercial real estate experience.

http://www.bizjournals.com/jacksonville/potmsearch/detail/submission/2636151/Joseph_M_Turri

Tiffany Lane
Date added:April 21, 2014
Submission Type:New Hire
Current employer:Prime Realty
Current title/position:Director of operations
Industry:Commercial Real Estate
Position level:Manager
Duties/responsibilities:She has sales and management experience. She will oversee the day-to-day operations for the full-service commercial real estate company.

http://www.bizjournals.com/jacksonville/potmsearch/detail/submission/2636021/Tiffany_Lane

Prime Realty is growing. The strength of our firm comes from our people and we are so glad to have too strong new members of the team; Tiffany Lane and Joseph Turri.


Eric Bumgarner Assists Veteran Moving and Storage with Industrial Lease

JACKSONVILLE, FL (February 10, 2014) – Prime Realty today announced Veteran Moving and Storage LLC, a veteran owned moving and storage company, has signed a new lease at 5591 Commonwealth Avenue.  The 13,500-square-foot facility will service the company’s northeast Florida operations.  Veteran Moving and Storage is a subsidiary of Wheaton Van Lines. Their Commonwealth Ave location will be their first operations in Northeast Florida. The company is veterans owned and operated and “we will be offering moving and storage services to the military population in Northeast Florida”, says owner David McDonald who served in the United States Marine Corp. 

Prime Realty’s brokerage services for industrial leasing and sales is headed by Eric Bumgarner. Eric. A veteran of Operation Enduring Freedom, Eric served in the United States Air Force in Pakistan.


“We are pleased to help a new business open in Jacksonville.” said Eric Bumgarner, Associate at Prime Realty. “I enjoy helping veteran business owners with their commercial real estate needs. Veterans have given so much and it is a great part of my job when I get to be a small part of their success back here at home.”

 

Read more in the JBJ Article

 

For more information about Prime Realty’s industrial property brokerage services contact Eric Bumgarner at 904.647.2355.

PRIME REALTY ASSISTS VETERAN MOVING AND STORAGE LLC COMPLETE LEASE FOR 13,500 SQ FT WAREHOUSE ON JACKSONVILLE’S WESTSIDE


The Tipping Point: Downtown Jacksonville Retail Development

The Tipping Point: Downtown Jacksonville Retail Development
By Matthew Clark

“The tipping point is that magic moment when an idea, trend, or social behavior crosses a threshold, tips, and spreads like wildfire.”
  ― Malcolm Gladwell <http://www.goodreads.com/author/show/1439.Malcolm_Gladwell> , The Tipping Point: How Little Things Can Make a Big Difference

Ever since I came to Jacksonville 10 years ago I was intrigued by downtown. An urban cityscape intermingled by the St. Johns River. This beautiful backdrop seemed like a recipe for retail success. I was interested to find that even though we have an NFL team, a large corporate presence, and some of the wealthiest zip codes surrounding our downtown we did not have a national retail presence in downtown.

Before shopping malls and retail centers took over Jacksonville, downtown’s streets were once lined with national department stores. (May-Cohens, JCPenny, Levy/Wolf, Furchgott’s, Rosenblum’s, and Sears) Suburban shopping malls and suburban sprawl have been to blame for the death of the downtown retail era. So what will it take to transform our downtown into a thriving retail Mecca that rivals that of St. Johns Town Center and other man made experience retail?

Vacant retail space in Downtown Jacksonville is currently being occupied by mom and pop retail operators. Mom and pop is a term we use in retail commercial development that describes a business owner that has a local storefront presence only. These local retailers are currently creating the retail experience as you walk the streets of downtown. A move that for many of the retailers has paid of, with many of them seeing better sales then other locations in Jacksonville. These numbers will help pave the way for national retail development. Last year saw convenience geared nationals like 7-Eleven and Pita Pit join our core. But it will take more then a 7-Eleven and a Pita Pit to get the suburban housewife downtown. I look at concepts like, Crate and Barrel, Trader Joe’s, Urban Outfitters, and American Apparel, that would thrive in an urban environment. These retailers would create that tipping point. A reason for people to come downtown from all over Jacksonville. A reason for national restaurants and boutiques to line our streets and create the synergy we need to make downtown the place to live, work, and play.

I had the opportunity to dream overlooking our beautiful urban core. We truly have a blank canvas and I look forward to bringing our dreams to a reality. Bringing national retailers to our core that will create an experience that everyone in Jacksonville will want to be a part of.

Thank you to Metrojacksonville.com for the archive photos. Please like the Jax Pack Downtown Merchants on Facebook to stay in the know on downtown retail.

Matthew Clark, Retail Specialist at Prime Realty
Matt is the power behind the Prime Realty retail sales engine – from tenant representation to representing large retail centers. Prior to joining the team, he was Program Manager of Marketing Experiments – the first internet based research lab that conducted experiments in optimizing marketing and sales processes with companies like Royal Bank of Canada, Reuters, New York Times, and Schlumberger. Before Marketing Experiments Matt was a Marketing Assistant for the Vestcor Companies where he helped develop and implement marketing strategies for many of the company’s properties. He earned his B.A. in Electronic Media from the University of North Florida. To learn more, www.primerealtyinc.com

Matthew Clark gives his perspective on retailing in downtown Jacksonville, FL 2013.


Matthew Clark hits the papers!

Congratulations to Matthew Clark for being featured in the Jacksonville Business Journal!

Matthew has taken pride in his work with helping to build the communities of Jacksonville, escpecially downtown.

Check out his online review

Matthew Clark featured in the Jacksonville Business Journal!