1. They exclusively represent tenants.
By working with a broker that specializes in tenant representation, the tenant receives market knowledge that was specifically crafted just for their side of the transaction. A good broker will lay out a series of steps the first time you meet them. It will guide you the entire way through.
They will ask about your employees, where they live and the ideal office layout in that first meeting, and then why you are moving. Then use this with your wants and needs, to start prospecting for your building.
Since they have a full knowledge of the marketplace, the broker knows rates, concessions and quality of property management which serves the tenant tremendously in earning them a better deal. They inform you of how the deal is progressing when dealing with business and real estate terms. This later shows itself in the final lease documents as well.
3. Tenant Improvements
Each tenant will get a customized build out for his or her space. The broker will negotiate for their allowance (landlord’s contributions) to build out their suite. Through this process, the broker guides the tenant into the best square footage and most efficient layout, all while maximizing the landlord’s contributions.
Finally, the broker negotiates directly with the contractor and the landlord’s representative to ensure the desired occupancy date is met on schedule.
4. Lease Execution and Construction Management
The broker manages preparation of final documents, checks for accuracy and coordinates all necessary signatures and deposits in order to complete the transaction.
When the tenant’s suite is under construction, the broker checks on the accuracy of the build out and the pace, in order to accommodate the desired occupancy.
5. Following Through With the Lease Details Throughout the Occupancy
A reliable broker is always available and should be utilized to ensure that all the terms of the lease are adhered to and fairly enforced the whole time. He or she will monitor the escalations in the lease rate and audit the operating expenses. Then they will step in if it appears they have rose to quickly.
After your lease is up, you will usually have the opportunity to renew or find a lease through them as well.
About the Author
Chuck White serves as Vice President of Office Brokerage Services at Prime Realty in Jacksonville, FL primerealtyinc.com. He has an extensive depth of experience in the commercial real estate industry starting in 1982 with Coldwell Banker Commercial (now CB Richard Ellis). During his years brokering in Jacksonville, Chuck has personally completed some of the market’s largest tenant representation and investment/ development transactions. This track record has led to multiple awards from - Northeast Florida Chapter’s (NAIOP-NEFL), including twice recipient of the Office Broker of the Year, Office Deal of the Year, Redevelopment Award of the Year and Chapter Merit Award for his work in defeating 2010's "No on 4 Campaign".
Hiring a Tenant Representation Broker makes a world of difference when leasing an office. You need someone to guide you through the detailed process from A-Z and help you assemble a team of experts who will fulfill specific needs. Hiring a professional should be the easiest choice you face throughout the whole process.
When selling commercial real estate there are several marketing strategies to choose from. Below I highlight four different ways to sell a property.
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.
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.
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.
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.
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
Topgolf has closed on a 15-acre parcel of land near the St. Johns Town Center for its Jacksonville facility.
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.”
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.
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.
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.
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.
What is Great About Jax?! We have comprised a few recent articles about our city and all it has to offer.
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!
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.
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 Negotiates the Sale of 1101 N Main St. to Alyssa Key founder of fashion line, Love Brigade.
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
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.
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.
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.
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
-Bad breath or offensive odor
-Card blasting, a.k.a. bombarding people with your business card
-Only approaching contacts when you need something
-Mistreating or disrespecting anybody
-Taking before giving
-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.
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
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.
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
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.
Prime Realty Inc
Congratulations to Matthew Clark, Eric Bumgarner and Team Prime!
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:
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.
St. Johns Town Center to celebrate ten year anniversary.
What a difference 10 years makes.
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, 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.
Austin joins Prime Realty’s Retail services team as a Sales Associate. He grew up in Orange Park, FL and later moved to South Carolina where he attended both high school and college. He would go on to graduate from University of South Carolina with a Business Administration degree.
He spent most of his post college career in management positions in both the culinary and logistics industry. He brings his customer service and account management skills with him as he enters commercial real estate brokerage.
After years of interest in the real estate industry, Austin started his career in residential sales. He quickly became a top listing and sales agent. Austin decided to broaden his knowledge and pursue a career in commercial real estate. He joined the Prime Realty team in February 2015 as a Sales Associate in the retail division.
“We are always excited to see our team grow, and work with top professionals. The addition of Austin increases the service we can offer our retail property owners and users.”- Tyler Saldutti, Prime Realty CEO
Efrain joins Prime Realty’s Office services team as a Sales Associate. He was born and raised in the North Florida area. After many successful years as an entrepreneur, he decided to transition to a career in commercial real estate. Efrain is an experienced sales and business professional whose mantra is "Remarkable Customer Service" with a whatever-effort-it-takes attitude that serves his Buyers and Sellers alike.
Efrain is responsible for assisting office space property owners and users with sales and leasing. “Efrain will be on our Office Property Brokerage team with Chuck White. Chuck and Efrain make a great team. Our customers are looking forward to seeing what they can do together.” -Tyler Saldutti, Prime Realty CEO
Prime Realty, one of Jacksonville’s leading commercial real estate brokerage firms, announced today that they have added to their successful brokerage team with the addition of Austin Kay and Efrain De Leon.
CATHEDRAL ARTS PROJECT MOVES TO THE ELKS BUILDING
Prime Realty is pleased to announce Cathedral Arts Project has moved to the third floor of The Elks Building downtown at 201 N Laura St Jacksonville FL.With 7,800 SF and the spectacular views from their third floor balcony overlooking Laura St, the space is an ideal fit for Cathedral Arts Project. The fully restored and updated property built in 1925 is a prized piece of Jacksonville Florida history. “Cathedral Arts Project’s move downtown is conducive of the energy and environment that has been curated by participants in Downtown Jacksonville’s grassroots cultural movement.” -Matthew Clark, Vice President of retail services said. Moving from Southpoint and JTB to the art and cultural friendly area of downtown will only further contribute to the growth of Cathedral Arts Project.
Kimberly Hyatt, president and CEO of the Cathedral Arts Project, anticipates the move will take place in early December 2014. " For more than two years, our organization has been looking for a Downtown office that would make us more accessible to our civic and cultural partners. As soon as we toured the space in the Elks Building, with its views of Laura Street from the gorgeous balcony and its proximity to Hemming Park, I knew we had found our permanent home. This move puts us right in the heart of the city's cultural center, which will allow us all closer to our shared vision for every child in our community to have access to an arts -rich education."
The Elks Building built in 1925 and designed by Roy Benjamin reflects the Mediterranean Revival style popular in the 1920s. Originally designed as a mix use building, the Elks Club used the top two floors for meetings and special events while the first floor has always been used for retail. With its third floor being leased immediately upon availability, and limited space left we are asking businesses looking for more information about The Elks Building at 201 N Laura St. to contact Matthew Clark at 904.239.5269 of Prime Realty.
About Cathedral Arts Project
The Cathedral Arts Project mission is to enrich the quality of life in Northeast Florida through unleashing the creative spirit of young people. By providing access to instruction in the visual and performing arts, we empower underserved, school-aged children to succeed in all areas of their lives.
The Cathedral Arts Project serves more than 2,000 students two afternoons each week during the school year and summer, providing quality, standards-based instruction in dance, music, theatre and the visual arts at no charge to our students.
About Prime Realty
Prime Realty is a full service commercial real estate firm servicing developers, owners, tenants and investors throughout the Florida and Georgia markets. Prime Realty creates value for its clients through their superior process for selecting, developing, managing and marketing real estate. Their goal is to achieve the greatest return on the real estate assets they service. What separates Prime Realty from the average real estate firm is proven systems for success and commitment to operational excellence. Headquartered in Jacksonville, FL, Prime Realty is under the direction of Tyler Saldutti. For more information on Prime Realty, visit www.primerealtyinc.com.
CATHEDRAL ARTS PROJECT MOVES TO THE ELKS BUILDING
Prime Realty is pleased to announce Cathedral Arts Project has moved to the third floor of The Elks Building downtown at 201 N Laura St Jacksonville FL.
Matthew Clark, Vice President of Retail Brokerage at Prime Realty has closed 46,284 SF in retail transactions across Florida and Georgia. Prime Realty is proud to announce that Ship 2 Shore, The Happy Grilled Cheese, Ale Wife, New Leaf and Dollar Tree have opened business locations with Matthew. It has been a great year so far and we look forward to finishing the year just as strong.
Matthew Clark, Vice President of Retail Brokerage at Prime Realty has closed 46,284 SF in retail transactions across Florida and Georgia. Prime Realty is proud to announce that Ship 2 Shore, The Happy Grilled Cheese, Ale Wife, New Leaf and Dollar Tree have opened business locations with Matthew. It has been a great year so far and we look forward to finishing the year just as strong.
"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
Matthew Clark recently assisted the Dollar Tree with their expantion in the Cornerstone Shopping Center in Macclenny. The new space is next to Tractor Supply which is currently under construction and scheduled to open January 2014. Dollar Tree's new space is currently 10,732 SF. Congrats to Matthew Clark, Dollar Tree and Prime Realty.
Retail Specialist Matthew Clark recently closes a deal with Dollar Tree- Cornerstone Shopping Center in Macclenny Fl.
Matthew Clark recently assisted Levenson Eye Associates renegotiate their lease at their Riverside Location. Levenson Eye Associates currently has 3 locations throughout Jacksonville. Their newest location is 751 Oak Street, Jacksonville FL with 6,872 SF. Congrats to Matthew Clark, Levenson Eye Associates and Prime Realty.
Retail Specialist Matthew Clark recently closed a deal with Levenson Eye Associates.
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.