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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.


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, 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.


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.


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


Joseph M. Turri Completes Lease with Therapeutic BD Services at Colonial Plaza

Joseph M. Turri Completes Lease with Therapeutic BD Services at Colonial Plaza

Exclusive: New Medical Clinic, Therapeutic BD Services, is Leasing its First Office on Phillips Highway in Colonial Plaza.

Joseph M. Turri, Associate Vice President, has completed the leasing agreement for
Colonial Plaza to Therapeutic BD Services located at 6251 Phillips Highway Jacksonville FL 32216. 
This is the first location for Therapeutic BD Services and the only office in the area offering therapeutic blood draws. Therapeutic BD Services LLC is an independently owned, licensed phlebotomy center that specializes in providing therapeutic blood draws for patients with a valid physician’s prescription.
“Colonial Plaza will serve Therapeutic BD Services well," Joseph M Turri, Associate Vice President said. "Medical office users are finding Colonial Plaza a good central location for their patients to frequent. Our last two leases at the plaza have been medical clinics.”

Joseph joined Prime Realty in 2014 as Associate Vice President specializing in Medical Office Sales and Leasing. Joseph’s background in real estate brokerage and development uniquely positions him for all aspects of real estate development, management and analysis. He has been practicing commercial real estate brokerage in Florida since 2007. Prior, he spent several years creating Brokers NYC, the first private MLS in New York City. Together with Elizabeth Wang, a Harvard Business school graduate, they created a platform serving the largest NYC real estate brokers including Corcoran, Douglas Elliman and Halstead. In addition, his years as a practicing New York City real estate broker provide the foundation for evaluating the myriad of real estate issues that arise in real estate transactions. Joseph also spent several years in a variety of real estate and management capacities at New Bedford Management, managing nearly 70 buildings in the NYC metro area where he managed mixed use multi-strategy commercial/residential real estate properties.


Joseph spent the last 7 years working for investors in The Villages Florida, developing, selling and leasing medical space to all the medical disciplines. From indentifying locations, negotiating leases and managing the intricacies of a medical build outs, Joseph has managed the process to completion of over 120,000sf of medical space, from dentists to surgery centers. He has a keen understanding of the medical professionals’ goals concerning their business, as well as their commercial real estate investment strategies. Joseph is still active in The Villages, FL market, and is now expanding his presence in both northern and southern Florida.

Exclusive: New Medical Clinic, Therapeutic BD Services, is Leasing its First Office on Phillips Highway in Colonial Plaza.