Blog

June 26, 2024

The Railyard District Business Council’s 1st Annual Local-Motion Luncheon

The Railyard District Business Council’s 1st Annual Local-Motion Luncheon

A great event this summer at The Glass Factory for The Railyard District Business Council’s 1st Annual Local-Motion Luncheon. So excited for all of the amazing things in the works for this historic part of downtown Jacksonville. #MakeJAXhappen #RailYardDistrictRising

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April 10, 2024

Fast-growing tech company JSC Systems leases more HQ space

Fast-growing tech company JSC Systems leases more HQ space

A commercial building technology provider with offices in Longwood has leased more than 10,000 square feet of office space for its Jacksonville headquarters as the growing company requires more space.

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September 25, 2023

Broker: $2.7M sale of Arby’s shows growth of River City Marketplace

Broker: .7M sale of Arby’s shows growth of River City Marketplace

The Arby's located at 626 Airport Center Road, which sold for $2.7 million this week. DUVAL COUNTY PROPERTY APPRAISER

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November 18, 2022

Alan Zwass Brings A Consulting Approach To CRE Brokerage

Alan Zwass Brings A Consulting Approach To CRE Brokerage

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November 04, 2022

Prime Realty Sells $6.7 Million Southside Industrial Property

Prime Realty Sells .7 Million Southside Industrial Property

Tyler Saldutti and Conrad Boylan from Prime Realty represent buyer and seller on industrial property sale.

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August 03, 2022

What Do You Do With a Former Bank Branch?

What Do You Do With a Former Bank Branch?

Restaurants and marijuana dispensaries find a home in former bank branch facilities.

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April 29, 2022

A Fresh Perspective:  With Gordon Olson, Rising Star in Jacksonville Commercial Real Estate

A Fresh Perspective:  With Gordon Olson, Rising Star in Jacksonville Commercial Real Estate

April 2022 Gordon Olson jumped into a sales role in late 2021 as Associate Director on the commercial real estate brokerage team at Prime Realty. He has made a splash closing over $5 million in sales during his first seven months with more than $6 million in projects underway. Now with multiple sales and leasing transactions under his belt, Gordon sets his sights on carving out his place in North Florida Commercial Real Estate market and defining his brand as a top producer

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January 19, 2022

Developer buys site on Alta Drive for $3.5 million

Developer buys site on Alta Drive for .5 million

A 7.7-acre site at Alta Drive and Interstate 295 sold for $3.5 million.

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October 20, 2021

Is Jacksonville the Supernova of the South? We think so.

Is Jacksonville the Supernova of the South? We think so.

Finding a category to place such a unique and magnificent city like Jacksonville can be challenging. This one we can stand behind.

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July 09, 2021

City Rescue Mission to lease former Normandy Save A Lot

City Rescue Mission to lease former Normandy Save A Lot

City Rescue Mission plans to open a thrift store in the West Jacksonville shopping center.

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June 03, 2021

Hakimian Buys Medical Office Building, Has Plans for More Acquisitions

Hakimian Buys Medical Office Building, Has Plans for More Acquisitions

Hakimian Holdings is known for its retail property portfolio, owning retail centers — including Gates of Promenade — across the First Coast. Now it can add medical office building landlord to its resume. “We’ll be three to five times as large in the next five years,” Hakimian said. “This place is going to keep booming and booming and booming, and we want to be as much a part of that story as we can be.”

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May 12, 2021

JUST SOLD: Jacksonville’s Oldest Dairy Queen

JUST SOLD: Jacksonville’s Oldest Dairy Queen

We're excited to announce the sale of Jacksonville's oldest Dairy Queen, located at 5812 University Blvd. W. The restaurant will continue to be in operation as it has for more than 50 years. Special thanks to our brokers, Kayla Deguzman, Brent Dennis, and Tyler Saldutti for their respective roles in facilitating the sale.

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April 19, 2021

Strategic Voices: What to invest in in Jacksonville’s white-hot real estate sector

Strategic Voices: What to invest in in Jacksonville’s white-hot real estate sector

The First Coast is growing at an exponential rate, especially when it comes to real estate, and growth isn't without its challenges. To understand more about the situation, including some possible next steps for the region, the Business Journal spoke to Prime Realty founder and CEO Tyler Saldutti, who works in commercial, residential, and industrial and office real estate sectors.

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October 23, 2020

Prime Realty Taps Shaun Mayberry For Vice President Role

Prime Realty Taps Shaun Mayberry For Vice President Role

Prime Realty is excited to announce Shaun Mayberry has taken the role of Vice President of Brokerage Services at Prime Realty in Jacksonville, Florida. Shaun’s focus is primarily on servicing owner occupant industrial and medical office customers. Additionally, he will be assisting the Brokerage division on land dispositions across multiple property types.

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October 16, 2020

Industrial Property Comes Full Circle From Construction to 2020 Sale

Industrial Property Comes Full Circle From Construction to 2020 Sale

Shaun Mayberry and his family were part of the construction team in 2004 that built the industrial property at 259 Ellis Road for Engine Distributors. Shaun went on to represent the seller of this property in 2020.

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August 05, 2020

Steven McAdoo Represents Buyer in 41-Unit Multifamily Sale

Steven McAdoo Represents Buyer in 41-Unit Multifamily Sale

Cypress Heights, a 41-unit multifamily property located at 6650 103rd Street in West Jacksonville, sold on August 4th for $2.81 million. Miami-based real estate investment firm, Concession Management LLC, paid $68,536 for each building. Steven McAdoo, associate director of multifamily investment sales represented Concession Management in this off-market sale. Steven has worked with Concession Management before as the company continues to grow its portfolio in Jacksonville.

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May 29, 2020

Born during the Great Recession, Prime Realty is relying on lessons from the past.

Born during the Great Recession, Prime Realty is relying on lessons from the past.

CEO Tyler Saldutti has always taken pride in the fact that his Jacksonville-based brokerage firm Prime Realty was born in and refined by the Great Recession. Now in the economic crisis created by Covid-19, he’s had to prove his company is up to the challenge once again. As a property owner himself, he has had to keep a closer eye on finances and create new relationships with tenants. "As an investor and as a landlord...we're nothing without our tenants. You don't want to be the landlord that seems like they don't care," Saldutti says. Saldutti remains optimistic about expansion because of his confidence in his brokers’ abilities to make the most of bad times. “It’s a different conversation and a different process during turmoil than it is during any sense of stability or a good market,” he said. “We’re one of the best firms out there for when it’s difficult.”

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March 25, 2020

Steven McAdoo Closes 41-unit Multifamily Deal

Steven McAdoo Closes 41-unit Multifamily Deal

West Jacksonville’s Monroe Manor recently sold to a Pembroke Pine-based investment group for $2.45 million. Constructed between 1939-1981, the apartment community consisted of 41 multifamily units with single-family, duplex, and triplex options available. Prime Realty’s Steven McAdoo represented both the buyer and seller in this off-market transaction.

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February 14, 2020

Preleasing Begins for Highland Row

Preleasing Begins for Highland Row

“We share a passion for mixed-use projects and deliver adaptable solutions that are important in the execution of Fuqua’s overall vision. Our creative ideas will significantly differentiate this project from other developments in the region,” Matthew Clark and Megan Atkin said in a joint statement.The overall 1,200-acre development will comprise 200 acres of conservation land, 65 acres of mixed use land and 1,150 acres for single-family homes and townhomes. Prime Realty Senior Vice President Matthew Clark and Entwine Founder and CEO Megan Atkin will market and lease the development.

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February 13, 2020

Curry Thomas Hardware Store - SOLD

Curry Thomas Hardware Store - SOLD

The Curry Thomas Hardware Store at 3907 Baymeadows Road has been sold for $940.000. John Ergisi, owner of Jacksonville-based brokerage company United Retail Services bought the space with his part Dr. Rajesh Mali, hoping to revitalize the area. “We’re going to make it look brand new,” said Ergisi. Their plan is to spend $700,000-$800,000 on redeveloping the space, starting with remodeling the building’s storefront, parking and signage. Shaun Mayberry, Asset and Acquisitions Manager at Prime Realty, brokered the sale and “believes we are setting the stage for other re-purpose projects in the vicinity.” The new owners hope to find new retail tenants in the meantime for the currently vacant 13,700 square foot building and state that they had long thought about purchasing the building due to its “great location and good bones.”

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October 03, 2019

Prime Realty Hires Steven McAdoo

Prime Realty Hires Steven McAdoo

Steven McAdoo joins Prime Realty’s brokerage team as an Associate Director specializing in multi-family investment sales.

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August 28, 2019

Shaun Mayberry Joins Prime Realty as Asset and Acquisitions Manager

Shaun Mayberry Joins Prime Realty as Asset and Acquisitions Manager

“I am very confident he will be able to make important investment decisions that will help grow our investment selections, Property Management portfolio, and provide excellent brokerage services to our clients. Shaun will be part of Prime Realty’s goal of creating a strong, well rounded full service commercial real estate platform,” says Tyler Saldutti, Founder and CEO of Prime Realty.

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August 20, 2019

Town & Country Shopping Center in Arlington sold

Town & Country Shopping Center in Arlington sold

Infill housing developer JWB Real Estate Companies LLC buys the property for $5.08 million.

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August 16, 2019

SOLD! Iconic San Marco Square Building Sells to Sleiman Enterprises

SOLD! Iconic San Marco Square Building Sells to Sleiman Enterprises

Prime Realty's Matthew Clark Sells San Marco Square Building to Jacksonville-based Sleiman Enterprises.

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August 12, 2019

Planning For 2065: 5 Demographic Trends That Will Change CRE

Planning For 2065: 5 Demographic Trends That Will Change CRE

A hot real estate market is defined by where people choose to live and work, so it is no wonder that the industry concerns itself heavily with demographics. Read more at: https://www.bisnow.com/los-angeles/news/forecast/planning-for-2065-5-demographic-trends-that-will-change-cre-100135?utm_source=CopyShare&utm_medium=Browser

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July 18, 2019

Sunshine State Grows Up, Emerges As Player On World Stage

Sunshine State Grows Up, Emerges As Player On World Stage

“Florida is America’s Australia,” goes the set-up line for a well-worn Florida joke. But the laughs are increasingly at the expense of anyone short-changing Florida and the steadily growing economic might the Sunshine State is delivering to the nation and the world.

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June 19, 2019

LIFE AFTER THE NFL

LIFE AFTER THE NFL

From the NFL’s Gridiron Battlefield to the Dynamic World of Commercial Real Estate Investing—this is My Story.

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April 16, 2019

4 Acres & Restaurant Building For Sale

4 Acres & Restaurant Building For Sale

Now, the owners of the oldest continually operating restaurant in Jacksonville are looking to sell both the business and the 4 acres of land upon which it sits.

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April 10, 2019

Dahlia’s Pour House SOLD!

Dahlia’s Pour House SOLD!

Brewz plans concept at former Dahlia's Pour House location

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March 05, 2019

Another Arlington property is targeted for redevelopment.

Another Arlington property is targeted for redevelopment.

Town & Country Shopping Center outparcels for sale

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March 04, 2019

Jaxport CEO: $300 million contract is ‘history in the making’

Jaxport CEO: 0 million contract is ‘history in the making’

CEO Eric Green and COO Fred Wong at the 2019 State of the Port

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February 21, 2019

Jacksonville’s Ranked 4th Nationally

Jacksonville’s Ranked 4th Nationally

Millennials Thrive in Riverside, Five Points & Brooklyn.

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February 11, 2019

What’s going on with Derby on Park – plus details on 4 new projects in Five Points

What’s going on with Derby on Park – plus details on 4 new projects in Five Points

"Five Points is a microcosm of diversity that reflects this city's future generation," he said. "That experience is what results in some of the highest restaurant and bar sales in all of Jacksonville. The new additions to Five Points in 2019 will only continue to push this progressive thinking bohemian neighborhood forward." - Matthew Clark.

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January 23, 2019

Close A Deal and Earn a Fee, Open A Relationship and Earn a Fortune

Close A Deal and Earn a Fee, Open A Relationship and Earn a Fortune

After ten years in business it is clear to us that Prime Realty is NOT in the real estate business. We are in the relationship business. As we plant, water, and grow new relationships, we reflect on where our most valued relationships have come from. Here are just a few of the ways our client relationships are built at Prime:

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January 09, 2019

Prime Realty Helps Code Ninjas expand into Saint Johns

Prime Realty Helps Code Ninjas expand into Saint Johns

Matthew Clark and Karen Hong from Jacksonville based Prime Realty represented Code Ninjas in finding their new location in Julington Creek Plantation, (Plantation Plaza) at 2758 Race Track Road Ste 401, Saint Johns, FL 32259.

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December 17, 2018

SOLD -  Murray Hill Plaza

SOLD -  Murray Hill Plaza

Murray Hill Plaza at 1064-1080 Edgewood Ave. S. sold for $1.2 million.

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December 10, 2018

Renovation of San Marco Building

Renovation of San Marco Building

Town & Country Shopping Center Inc. paid $1.08 million for pair of properties. Through Town & Country Shopping Center Inc., it bought buildings at 1561 San Marco Blvd. and 1017 LaSalle St. for redevelopment and leasing. Matthew Clark, Senior Vice President of Prime Realty Commercial Real Estate, is the leasing agent.

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November 14, 2018

Amazon Chooses New York City, Virginia for New HQ Sites as Nashville Gets Operations Center

Amazon Chooses New York City, Virginia for New HQ Sites as Nashville Gets Operations Center

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November 08, 2018

State of The Market November 2018

State of The Market November 2018

The US Economy - Interest Rates and Property Values - The Midterm Election - Government and Trade - Capital Markets - Rate and Spreads - Lending Regulations

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October 18, 2018

Prime Realty - 10 years in business

Prime Realty - 10 years in business

We are proud to be celebrating 10 years in business this month. Check out this snap shot from 10 years ago.

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October 15, 2018

Jacksonville’s Urban Trend

Jacksonville’s Urban Trend

Gentrification is a common and controversial topic, and always has been a big factor in shaping our community. Millennials, born between 1983 and 2000, are ever more flocking to the cities instead of heading to the suburbs. Searching for those city vibes and trendy lifestyles, Jacksonville’s young adults have begun populating Springfield, Brooklyn, Downtown and Riverside.

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September 19, 2018

Mario Butler Trades Cleats for Contracts at Prime Realty

Mario Butler Trades Cleats for Contracts at Prime Realty

Jacksonville, Florida-based brokerage firm Prime Realty hires former NFL player, hometown football star and philanthropist, Mario Butler. Tackling a career change from football to commercial real estate, Butler joined Prime Realty’s team in August of 2018 as an Associate Director.

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September 12, 2018

What Do Jacksonville Millennials Want to See Happen Downtown?

What Do Jacksonville Millennials Want to See Happen Downtown?

Prime Realty's Matthew Clark was featured in J Magazine this week discussing his hopes for Downtown Jacksonville. Chosen as one of the influencing voices in our city, Clark tells us why he thinks our Downtown will become a magnet for millennials.

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September 10, 2018

What Makes a FUN Leasing Process?

What Makes a FUN Leasing Process?

Don’t let the leasing process become an overwhelming experience. Here are a few tips and tricks for how to make it easy and fun for everyone involved!

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August 24, 2018

Prime Realty Represents Buyer of Baymeadows Festival Shopping Center

Prime Realty Represents Buyer of Baymeadows Festival Shopping Center

Jacksonville, FL based commercial real estate firm Prime Realty adds another shopping center to its portfolio of closed listings. This time, the company represented the buyer, Safari Plaza LLC, in the purchase of Baymeadows Festival Shopping Center for a price of $5,150,000.

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August 16, 2018

McDonald’s Outlines $6 Billion National Plan to Build, Renovate Restaurants

McDonald’s Outlines  Billion National Plan to Build, Renovate Restaurants

McDonald’s Corp. is using its substantial real estate holdings across the United States to fend off competitors eating into its bottom line.

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August 08, 2018

Matthew Clark Promoted to Senior Vice President at Prime Realty

Matthew Clark Promoted to Senior Vice President at Prime Realty

Please join us in congratulating Matthew Clark on his recent promotion to Senior Vice President at Prime Realty in Jacksonville, Florida.

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July 25, 2018

5 Things to Consider When Purchasing Commercial Real Estate

5 Things to Consider When Purchasing Commercial Real Estate

If you are considering purchasing commercial real estate, you will need to know a few tips and tricks.

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July 18, 2018

Publix Pays $12.6 Million for 61,000-SF Shoppes at Mission Trace in St. Augustine

Publix Pays .6 Million for 61,000-SF Shoppes at Mission Trace in St. Augustine

Lakeland, FL-based supermarket chain Publix added another store location to its real estate portfolio. This time, the company purchased the Shoppes at Mission Trace in St. Augustine, FL.

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July 17, 2018

The District Project Lands Massive Incentive Package

The District Project Lands Massive Incentive Package

With a booming economy and flush city government coffers, Jacksonville’s City Council approved an $82 million incentive package to jumpstart infrastructure at the long-awaited District development.

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June 27, 2018

National Apartment Rent Growth Remains Strong

National Apartment Rent Growth Remains Strong

Landlords continue to benefit from booming apartment demand, as U.S. apartment rent growth averaged 2.9 percent between May of 2017 and 2018. While landlords haven’t been able to push rents like it’s 2015 anymore, the country is eight years into this economic cycle and rents continue to outperform their average in the face of increased supply.

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June 20, 2018

Barnett Bank Building Hard Hat Tour June 2018

Barnett Bank Building Hard Hat Tour June 2018

The Jacksonville chapter of CREW hosted a hardhat tour of the Laura Street trio on June 19, 2018. Our tour guide, Steve Atkins, provided insight on the project as a whole and took us through the Barnett Bank building which is currently under construction.

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June 18, 2018

Best Cities For Jobs in 2018

Best Cities For Jobs in 2018

Great news for local job seekers, Northeast Florida makes it on Forbes list for the best cities for jobs in 2018! Give us a call today, there has never been a better time to invest.

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June 15, 2018

Prime Realty’s Industrial Team is Closing Deals! 

Prime Realty’s Industrial Team is Closing Deals! 

Beacon Fisheries is making it happen in Jacksonville! We are very proud to call them a client.

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June 13, 2018

40 Under 40 Alumni Mixer

40 Under 40 Alumni Mixer

40 Under 40 Alumni Mixer at The Candy Apple Cafe Brings Together Jacksonville’s Thought Leaders From a Multitude of Industries

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June 07, 2018

JACKSONVILLE IN 1930

JACKSONVILLE IN 1930

Ever wonder what neighborhood commercial strips were originally set up to be walkable? Look no further than this map by George W. Simons, Jr. It presents an interesting look at zoning in Jacksonville during the Great Depression.

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May 31, 2018

Jacksonville Grows Up

Jacksonville Grows Up

Jacksonville, FL may not be front of mind when investors think about defensive, tight markets that keep a tight lid on new developments. However, that might be changing.

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May 14, 2018

The 7 Types of Retail Properties

The 7 Types of Retail Properties

There are many different types of properties to keep track of in the world of commercial real estate. It may feel like there is too much to learn in too little time, but that is not the case! This article discuses the different types of retail real estate. Whether you are interested in investing or starting up your own business, this article should be a helpful read.

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May 10, 2018

Prime Realty is Closing Deals!

Prime Realty is Closing Deals!

Contact us to learn more details about this sale, or to discuss your property and how to maximize your return on investment. 

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May 09, 2018

Top 5 Most Asked Commercial Real Estate Questions

Top 5 Most Asked Commercial Real Estate Questions

Not an expert in commercial real estate? Well we are! Here are some popular questions and answers that might help you.

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May 07, 2018

STARBUCKS TARGETING STORES IN MINORITY NEIGHBORHOODS

STARBUCKS TARGETING STORES IN MINORITY NEIGHBORHOODS

Starbucks aims to support ongoing revitalization in the community by opening more stores in minority neighborhoods. The goal is for Starbucks to provide jobs, opportunity and world-class training to young people living in these neighborhoods. Youth between the ages of 16 and 24 who are unemployed or not in school will be targeted for training.

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April 20, 2018

Jax Industrial Vacancy Reaches New Low; Office Market Sees Steady Growth

Jax Industrial Vacancy Reaches New Low; Office Market Sees Steady Growth

Jacksonville’s industrial market is seeing some significant changes this year. With the vacancy rate reaching a new low, the rental rates have increased tremendously.

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April 17, 2018

Retail Real Estate Trends

Retail Real Estate Trends

I am taking one of my CCIM courses this week and one of the professors, Gary, shared some of the trends he sees in the retail industries. Gary is an expert in retail properties so I thought I would share...

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April 09, 2018

Amazon opens its doors at new northwest fulfillment center

Amazon opens its doors at new northwest fulfillment center

Initial plans for the facility, located at 12900 Pecan Park Road, called for the creation of 1,500 jobs. It now employs more than 2,000 full-time workers. And during the past year, Amazon has slowly rolled out same-day delivery options for select zip codes in the area.

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April 04, 2018

Future Web.com Headquarters Ready For Construction

Future Web.com Headquarters Ready For Construction

Web.com headquarters coming to Gate Parkway in Spring 2019. This building, which is being referred to as “Town Center Two”, will include a dining area, fitness center, and health clinic in addition to office space for roughly 1,000 employees.

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March 29, 2018

Prime Realty Sells Shopping Center in Green Cove Springs, Florida

Prime Realty Sells Shopping Center in Green Cove Springs, Florida

Matthew Clark and Austin Kay of Prime Realty closed on Magnolia Layne, an 87,454 square foot neighborhood shopping center located in Green Cove Springs, FL.

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March 28, 2018

Food for thought… Machine, Platform, Crowd: Harnessing our Digital Future

Food for thought… Machine, Platform, Crowd: Harnessing our Digital Future

Food for thought... Machine, Platform, Crowd: Harnessing our Digital Future

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March 23, 2018

These Real Estate Pros Have Hoops History

These Real Estate Pros Have Hoops History

For all those college basketball enthusiasts out there, read about how Many professionals in the commercial real estate industry played college ball.

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March 22, 2018

Office Space of the Future

Office Space of the Future

Joel Schellhammer, Vice President of Corporate Strategy for Steelcase, addresses trends effecting office property owners and users.

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March 22, 2018

Is Fancy Replacing Funky in 5-Points?

Is Fancy Replacing Funky in 5-Points?

For those moving into Park Street, the attraction comes from Five Points being one of the most diverse, walkable neighborhoods in Jacksonville, said Matthew Clark, vice president of retail property brokerage at Prime Realty. “We’ve found that a lot of restaurants and retailers want to invest in the space, and it’s been great,” he said. “They’re really helping to re-gentrify the neighborhood.”

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March 21, 2018

IT’S BO’ TIME IN ST. JOHNS COUNTY

IT’S BO’ TIME IN ST. JOHNS COUNTY

Karen Hong and Eric Yi of Prime Realty are proud to welcome Northeast Florida’s newest Bojangles’ restaurant location in St. Augustine. Karen and Eric worked hand-in-hand with the Northeast Florida franchisee, Bo Scallions, LLC throughout the entire site selection and transaction process for the 1.06 AC property.

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March 06, 2018

Aldi plans to open 900 stores

Aldi plans to open 900 stores

The German discount grocer Aldi, intends to open 900 stores in the U.S. over the next five years. The department store Kohls plans on leasing the available space at several stores to not only Aldi, but other grocery stores such as Whole Foods. According to reports, the grocer-retailer partnership could help both Aldi and Kohl’s. The retailer could benefit from the increase in customers shopping for groceries while Aldi will cut the costs by renting space from Kohl’s.

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February 20, 2018

Self Storage Companies Seeking Growth Opportunities

Self Storage Companies Seeking Growth Opportunities

Companies are jumping at the opportunity to re-purpose retail sites and turn them into self-storage facilities. Shopping centers and malls that are located in highly trafficked areas are proving to be perfect for these re-purposing projects. Self storage continues to grow in our industry and is expected boom in 2018!

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February 05, 2018

Prime Realty Sells Foreclosed Property From 2009 for Triple the Value

Prime Realty Sells Foreclosed Property From 2009 for Triple the Value

Prime Realty’s Eric Bumgarner and Joseph M. Turri make commercial real estate investment a success for Virginia based Rahimi brothers. Plaza 295 is a multi-tenant flex industrial park located in the Westside industrial sub-market of Jacksonville, FL. In just three years, Bumgarner and his team created tremendous equity in Plaza 295 by acquiring new tenants and leasing vacant spaces within the property. Many of the commercial properties in the United States that fell into foreclosure five to ten years ago were sold to new owners and have now stabilized. “It is time to harvest the equity created after the last decline in the commercial real estate market,” said Eric Bumgarner, Vice President of Prime Realty.

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January 17, 2018

Prime Realty Leases Office Space at 100 North Laura Street

Prime Realty Leases Office Space at 100 North Laura Street

Prime Realty's Matthew Clark starts the new year off by leasing the entire 9th floor of 100 N. Laura to Live Oak Construction. Live Oak Construction is a Jacksonville based full service general contracting firm with over 50 years of contracting experience.

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January 11, 2018

New Jacksonville Dog Park with Beer and Coffee

New Jacksonville Dog Park with Beer and Coffee

Jacksonville city gets its very first dog park with a coffee and beer bar. This unique concept will be opening in the Spring and will allow dog owners to relax and have a beverage while their pups play.

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January 08, 2018

Playoff Win For JAGS is a Win For The First Coast

Playoff Win For JAGS is a Win For The First Coast

An NFL Playoff win is a win for The First Coast. National TV exposure, new visitors to the area, and a packed stadium all fare well for the Jacksonville business community. Jaguars playoff success raises national profile of the city of Jacksonville.

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January 05, 2018

The New Office Look

The New Office Look

There is a new business model for office space that will recognize the popularity of co-working spaces. When operated by a seasoned provider, co-working spaces are known to be about 50% more profitable than traditional office leases. Traditional landlords are preparing to focus less on asset value and more on tenant needs by eventually making new office space decisions.

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January 02, 2018

Commercial Real Estate Trends to Expect in 2018

Commercial Real Estate Trends to Expect in 2018

What to expect in 2018 for Commercial Real Estate: 2018 is quickly approaching and the prediction for 2018’s commercial real estate market, can best be described as “slow- and steady growth.” According to the top brokerages, industry and experts, there are 22 trends in 2018. 

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December 28, 2017

Physical Retail Will Live Forever

Physical Retail Will Live Forever

It is no secret that online retail is increasing daily. However, there are many things that online retail can not offer and brick – and – mortar stores always will be able to offer. According to Unibail-Rodamco Christophe, “Retailers need a physical presence.” 

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December 26, 2017

Star Wars Brings More Traffic to Shopping Centers

Star Wars Brings More Traffic to Shopping Centers

The release of Star Wars: The Last Jedi brings on an incredible amount of foot traffic to shopping centers. More than a quarter of adults in the United States went to see a movie last week, 83 percent of those adults went to a cinema that is located in a shopping center or mall. This increase in foot traffic brought retailers of all types great business! About half these adults shopped before or after the movie, and many dined at the center and/or engaged in other activities. 

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December 21, 2017

Prime Realty Starts Managing Regency Court

Prime Realty Starts Managing Regency Court

Prime Realty selected as the property manager for Regency Court.

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October 20, 2017

Impact of art on commercial real estate

Impact of art on commercial real estate

Imagine office buildings, public places and our community without any art. Our society would be a very dull and boring place. Art enhances the way we live, work and play. It can enhance communal areas, office projects and retail development. Developers are using art to brand a property and create a vibe that matches the culture.

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February 28, 2017

How to Choose the Best Commercial Real Estate Firm

How to Choose the Best Commercial Real Estate Firm

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

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January 30, 2017

Wall Street is Hiring in Florida

Wall Street is Hiring in Florida

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December 23, 2016

How to market your commercial real estate for lease

How to market your commercial real estate for lease

Top Five Tips To Leasing Your Commercial Property

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November 02, 2016

Why Are Investors Buying Commercial Real Estate in Northeast Florida?

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October 20, 2016

5 Reasons Why A Tenant Needs Professional Representation

5 Reasons Why A Tenant Needs Professional Representation

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.

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September 30, 2016

Prime Realty’s Eric Bumgarner and Joseph M. Turri Close on 53,000 SF Warehouse

Prime Realty’s Eric Bumgarner and Joseph M. Turri Close on 53,000 SF Warehouse

A company that recycles used electronics will be creating 30 jobs over the next two years in Northwest Jacksonville after buying a 53,000-square-foot warehouse in Northwest Jacksonville at 3722 Bright Ave.
The company, E-Tech Management USA Inc, collects precious metals from used electronics and then ships them around the world, said Prime Realty broker Eric Bumgarner, who brokered the transaction between E-Tech Management and seller Antonio Estevez.

Bumgarner said the property was in complete disarray in 2014 when Estevez bought it for $150,000.
“The roof was shot, electric was ripped out, office was shot, plumbing had to be replaced and it was spray painted all over the place,” he said. “It was in about the worse condition possible.”
However, the property was still functional and Estevez used it for the past two years to run a business that refurbished printers to sell to overseas clients.
Bumgarner said that in January 2015 when he first took the assignment, Jacksonville’s industrial market was a little soft and “nothing like it is now.”
“I’d say the industrial market really started heating within the last 12 months, and once that happened we started getting a lot more interest in the property,” he said.
Benny Yeung, the owner of E-Tech Management USA, reached out to Bumgarner about another property, but the Prime Realty broker realized that Yeung’s business would work well in the Northwest warehouse. Eventually, buyer and seller agreed to a purchase price of $730,000.

Bumgarner said that Yeung, who wasn’t immediately available for comment, still got a good deal on the property as the sales price of $14 per square foot is still below what similar buildings offering the same functionality.
This building offers dock high access, outside storage, a rail spur and a 20-foot clear height. Bumgarner said buildings with similar functionality routinely are sold in the $25 per square foot range.
Also, Jacksonville wasn’t the only place that Yeung looked before deciding on 3722 Bright Ave. to buy. Yeung also looked in Savannah, but couldn’t find any property at a comparable price. Bumgarner said that some similar sized warehouses in that port city are being marketed at much higher prices.
Also, Jacksonville provided other strategic advantages, he said.
• Available workforce
• Jax Port
• Cost of living
• Quality of life
• Cost of real estate
• Strategically located to reach a large portion of the US population by truck in a short amount of time

After about a month of him examining the Savannah market he made his mind up on Jacksonville, Bumgarner said.

Derek Gilliam
Reporter - Jacksonville Business Journal

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August 29, 2016

4 Ways To Sell Your Commercial Real Estate

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May 17, 2016

Third Annual TPC Reception.  “Team Prime and their invited guests enjoyed a beautiful day at TPC.”

“Team Prime and their invited guests enjoyed a beautiful day at The Players Championship in Ponte Vedra Beach. Fun was had by all.”

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May 02, 2016

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

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!

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April 22, 2016

2016 New Year’s Resolutions

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

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April 13, 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

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

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April 05, 2016

Lack of large blocks of office space a problem in Jacksonville

Lack of large blocks of office space a problem in Jacksonville

New construction has not followed the decrease in vacancy leading to a supply problem that could hurt the city attracting companies that would need a large block of space.

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March 18, 2016

Prime Helps Worldwide IT move headquarters Downtown

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January 15, 2016

The Elks Building in Downtown sells for $4.5 million to California buyer

The Elks Building in Downtown sells for .5 million to California buyer

The Elks Building in Downtown Jacksonville sold for $4.5 million on Friday to a California buyer, according to the broker representing the seller.

Matthew Clark, vice president with Prime Realty Services, said Randy Dieu bought the property that is about 92 percent leased. There’s about 2,200 square feet of space available for lease in the building, he said. The price per square foot was $158.43.The about 28,400 square-foot building located at 201 N. Laura St. wasn’t always an easy spot to lease, Clark said.

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January 11, 2016

Beach Boulevard business center in Jacksonville sold for $4.7 million

A Beach Boulevard business center sold for $4.7 million Monday, according to the broker who put the deal together.

Tyler Saldutti, CEO and founder of Prime Realty, said the Millennium Business Center, 11744 Beach Blvd, is 100 percent leased. The Beach Center llc. sold the property to Millennium Business Center llc.

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October 28, 2015

Six Ways to Reduce Risk and Insurance Claims at a Shopping Center

Six Ways to Reduce Risk and Insurance Claims at a Shopping Center

Listed are six suggestions on how a property owner can be proactive regarding insurance claims.

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October 16, 2015

Analysts See Multifamily Market Remaining Strong for Several More Years

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

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