Category Archives: Office

Ep. 261 Eric & Steven Return from an Involuntary Leave of Absence and Talk the Florida Market

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Eric & Steven Talk the Florida Market

Good to be back! Eric Odum and Steven Silverman took an involuntary break for a few weeks while Eric healed. They return to discuss what happened…and what is going on in the Florida market since they have been away.

Key Discussion Points

[01:11] Introduction by Eric & Steven (discussion about Eric’s accident / why they’ve been away for 2 months)
[04:00] Recap of what’s been going on in the market (banks collapsing, etc)
[07:50] Why Florida is more insulated from economic issues relative to other parts of the country
[10:33] Discussion about the residential market
[13:54] Discussion about the commercial side
[14:52] What’s been going on in the Office Market?
[20:58] Cap rates
[23:49] What does the future hold?
[29:43] Closing comments by Eric & Steven


About our Guest

Florida Investment Real Estate provides turnkey real estate investment solutions for our clients. With a diverse background in Florida’s commercial real estate markets, Florida Invest Real Estate offers investment services for individual and institutional investors seeking retail, multifamily, and medical office properties of $500k to $10m.

Florida Investment Real Estate provides comprehensive investment services beyond basic real estate brokerage, assisting clients with deal sourcing, property management, and disposition

GUEST CONTACT INFO
Website: investfloridashow.com

Ep. 201 Eamon Anderson: Alternative Security Deposit Solution for Commercial Businesses

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Alternative Security Deposit Solution for Commercial Businesses

Today we talk with Eamon Anderson, director of strategy and underwriting at TheGuarantors agency, about an alternative security deposit solution for commercial businesses that helps both the landlord and the tenant. Their solution is basically an insurance version of the commercial security deposit that protects the tenant and landlord for the term of the lease from potential loss of rent payments.

From a landlord’s perspective, it’s as good if not better than the incumbent’s solutions to cover the risk of missed rent or high upfront tenant improvement (TI) cost. They’re getting a surety bond that works just like a letter of credit and it’s backed by investment grade credit, payable on-demand. And from any of the landlord’s lender’s perspective, it works just like a letter of credit.

From a tenant’s perspective it’s a lot cheaper option because it’s unsecured. All tenants have to do is pay an annual insurance premium, typically an average of 5% of the security deposit per year, and they never have to put up the full amount of the deposit in cash. The tenant can then reinvest the money they’re not giving to the landlord.

Key Discussion Points
[01:04] Opening remarks by Eric Odum and Steven Silverman
[04:44] About our guest: Eamon Anderson
[05:42] Tell us about this insurance version of the commercial security deposit solution that you offer
[10:19] How does your solution protect the tenant/landlord for the term of the lease in terms of not missing rent payments?
[16:21] Is this insurance obligation written into the lease like any other tenant obligations?
[17:15] What does the balance sheet / credit analysis need to look like on the tenant side to work with you?
[22:34] Do you find that people understand and like this solution?
[27:25] Closing remarks by Eric and Steven

 

About our Host

 Eamon AndersonEamon Anderson is director of strategy and underwriting for the Securiti team of TheGuarantors agency. He graduated from Hamilton college in Clinton New York.  After college, he worked at Morgan Stanley for 5 years providing customized credit facilities to the bank’s high net worth and private equity clients. His experience with a wide array of lending products and clients types at Morgan Stanley gave him the experience to create underwrite and structure surety bonds for the Guarantors commercial clients. 

 

 

Ep. 190 Coworking Space in the Office Market

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Coworking Space in the Office Market

The coworking space has grown significantly, and it’s going to continue to be the fastest growing sector in the Office Market. Coworking has become a transition space between coffee shops and full-time commitment on office space.

WeWork is a disruptor in the coworking space, but recently is having financial issues which could cause some ripples in this arena, but would probably not be catastrophic and will most likely be absorbed.

The whole economy in America is changing as we become more of a service economy, but office space will always exist.

Join us for this week’s podcast as Eric Odum and Steven Silverman share their thoughts on the Office Market, specifically the coworking space.

Key Discussion Points

[08:25] Medical Office Space Market
[12:42] General Office Space Market
[13:59] Coworking Space in the Office Market and discussion about “WeWork.com”
[31:12] Office Market Investment Opportunities
[34:20] Summary of Coworking Space and the Office Market

About Our Hosts

Eric Odum and Steven SilvermanEric Odum and Steven Silverman are the hosts of the Invest Florida Show podcast — actionable real estate investment talk with a focus on Florida.

Florida Investment Real Estate provides turnkey real estate investment solutions for our clients. With a diverse background in Florida’s commercial real estate markets, Florida Invest Real Estate offers investment services for individual and institutional investors seeking retail, multifamily, and medical office properties of $500k to $10m.

Ep. 177 David Beshears: Market Update on Multifamily & Other Asset Classes

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Market Update on Multifamily & Other Asset Classes

David Beshears has been involved in the commercial real estate industry for over 30 years and shares some great perspectives on the four asset classes of commercial real estate, with a focus on the multifamily market.

David breaks up his discussion into the following four areas:

  • Florida population growth projections with focus on I-4 Corridor
  • Industrial market
  • Retail and office market (with a quick discussion on self storage)
  • Multifamily market

Join us for this episode to learn why David sees a positive outlook for those interested in investing in the multifamily market.

“I think we are going to continue to see a tremendous demand for apartments and multifamily housing.”
– David Beshears

 

TIMELINE of KEY DISCUSSION POINTS

[07:05] Florida population growth projections with focus on I-4 Corridor
[18:57] Industrial market
[22:51] Retail and office market (with a quick discussion on self storage)
[36:29] Multifamily market

 

About Our Guest

David Beshears has been involved in the commercial real estate industry for over 30 years. He started Beshears & Associates, a commercial real estate valuation practice, in 1994.

Over the past 25 years, his firm has appraised over 10,000 commercial properties throughout Florida and the United States.

He’s a member of the Appraisal Institute, and a member of the Royal Institute of Chartered Surveyors. He’s also a licensed real estate broker, and a Florida State-Certified General Appraiser in Florida, Georgia, and Alabama.

Investor Resources

You can get in touch with David Beshears via his website at http://www.beshears.net.

Ep. 162 Jimmy Clark: Lawfare – 3 Potential Insurance Pitfalls You Need to Address in Your Lease

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As a landlord or property manager, you’ve got a lot of responsibility. From leasing to maintenance, there are a lot of potential risk factors you need to mitigate. One way that you might find yourself in hot water as a landlord is in regards to how insurance issues are addressed in your lease.

When it comes to leasing, it is typical that both you and your tenants will each be held to specific responsibilities and duties. However, there is an additional oneness on your as a landlord to make sure these responsibilities are addressed correctly in your lease. Otherwise, you may be left holding the bag should an issue arise.

This episode, we take a look at some common insurance pitfalls that often go unaddressed until they become an issue.

3 Potential Insurance Pitfalls

Renters Policy – Many multifamily + single family leases require tenants to have renter’s insurance. While this can be a good idea, it can often be poorly executed in the lease. Negligence in enforcing renters insurance often falls on the property manager and/or landlord for not ensuring the tenant does not have valid insurance.

Rent Abatement – If your tenant is granted rent abatement following a casualty at the property, when can you expect to get reimbursed for loss of revenue from this lost rent?

Tenant Improvements - If you are installing tenant improvements, insure it yourself. Leaving insurance on tenant improvements solely to the tenant can open you up to unnecessary risks: preclusive clauses, co-insurance provisions, exclusions, etc.

About Our Guest:

ada compliance, lease insuranceJimmy Clark is the Senior Vice President and Real Estate Practice Group Leader at Harden, one of the southeast’s largest risk management and insurance firms.

This episode, Jimmy offers up three essential tips all landlords need to know about leases. He shares the common insurance pitfalls that you need to make sure are addressed with your tenant(s) when drawing up your leases.

If you want more information on common insurance pitfalls when it comes to your real estate investment, you can contact Jimmy directly at jclark@hardeninsight.com or 813-367-5609

Don’t miss this episode on protecting your lease from common insurance pitfalls!

Ep. 158 Leslie Plettner & Jack Boyajian: What Landlords Need to Know About Florida’s Medical Marijuana Industry

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Legalized cannabis is here to stay.

Despite the federal government’s unchanged stance, there has been a recent wave of states pushing for some form of legalized cannabis whether it be medicinal or recreational. With Amendment 2, Florida joined the ranks of other states that have adopted some form of a legitimate cannabis industry.

However since Florida voters passed medical marijuana into effect, there has been some uncertainty as the move faced moral and legal push-back from some business owners and municipalities. Real estate investors and landlords have been faced with some of the more difficult questions regarding the legitimacy of the medical marijuana industry.

Like any burgeoning industry, the market will face some growing pains. But turning away from medical marijuana in its earliest stages may be short-sighted. Medical marijuana and retail cannabis tenants already have demonstrable value; the investment potential is there. Education and understanding can go a long way in bringing you to the forefront of this emerging marketplace.

Leasing to Medical Marijuana Tenants

  • Zoning
  • “Sin Clauses”
  • Tenant Licensing

About Our Guests

legal cannbis Leslie Plettner is the Managing Director of BaseCanna. A lifetime entrepreneur, Leslie’s real estate journey started with designing and transforming under-performing schools before transitioning into a more robust role in real estate development. In 2015, Leslie set her entrepreneurial sights on California’s emerging cannabis market.

 

medical marijuanaJack Boyajian is the CEO of BaseCanna. Having handled over $3 billion in the development, management and conversion convert residential and commercial real estate, Jack focused his interests on the value of the legal cannabis industry after witnessing the demonstrated positive effects of medical marijuana.

BaseCanna offers comprehensive, turnkey real estate solutions as well as operational guidance for tenants involved in medical marijuana or retail cannabis. BaseCanna can help match landlords with licensed, qualified tenants.

If you have more questions about leasing to a cannabis tenant or just questions about Florida’s medical marijuana industry, visit their website.

 

 

Ep. 141 Brian Bailey: A Federal Reserve Commercial Real Estate Expert’s Outlook on Florida

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As part of the Federal Reserve’s wide scope of responsibility and oversight, the eight regional branches are tasked with monitoring residential and commercial real estate markets; tracking trends and data in order to more accurately adjust to market fluctuations affecting the economy. These studies provide hard data for the Fed to make economic adjustments, but they can also be a great gauge for real estate investors. Any successful investor will tell you that the ability to forecast changes in the real estate cycle is vital. As much as knowing your market and asset class, an awareness of other economic factors is important for mitigating investment risk.

The Federal Reserve Bank of Atlanta serves as the central bank’s regional authority for the southeast. It tracks real estate markets for the region, including Florida and offers comparisons on a national scale. Our guest this week is a commercial real estate expert with the Fed’s Atlanta branch.

Florida commercial real estate outlookBrian Bailey is a Senior Technical Expert in the Supervision and Regulation Division of the Federal Reserve Bank of Atlanta. Specializing in commercial real estate, Brian tracks and analyzes emerging trends in the southeastern region and provides thought leadership on commercial real estate and guidance for the central bank.

Brian brings a diverse background in commercial real estate finance and acquisitions to the Fed. He has over 15 years of experience in commercial real estate finance, having managed financing for millions of square feet in real estate holdings for several large-scale equity and development firms. Brian received an MBA with concentrations in Real Estate and Finance from the University of Florida and has earned a CCIM designation.

You won’t want to miss this commercial real estate outlook on Florida!

 

 

 

Ep. 137 Ken Rosen: These Buying Strategies Can Help You Choose the Right Investment Property

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There’s no doubt we’re seeing a tightening market. In Florida, especially in the Tampa Bay market, we’re seeing demand outpacing construction; leading to higher prices in asset classes across the board. For investors, this means choosing the right investment property for your portfolio may take a little more work. That’s not to say a great investment isn’t waiting out there for you, it may just require a little creativity.

real estate buying strategiesKen Rosen knows a thing or two about creativity. As one of the leading innovators of South Florida real estate investing, Ken was a pioneer of condo conversions, reinvigorating the area’s multifamily market. Mr. Rosen has continued to be a driving force in South Florida real estate, working with a variety of asset classes before focusing mainly on office investing.

With over 30 years of investing experience and insight and over $500 million in transactions, Ken has earned a respected reputation among investors. He remains an active investor, mentor and educator as well as a best-selling author.

This episode, Ken provides his insight into where the market is at, where it’s heading, and how the right buying strategies can help you make the right investment.

“One good real estate investment is worth a lifetime of labor”

Buying Strategies for Smart Investments

  • Properties with long-term owners of high return opportunities
    • Under-market rates
    • Room to increase rents
  • Account for inflation when writing multi-year leases
    • Office, Flex, Industrial
  • Look for “B” buildings in “A” locations

Investment Properties to Watch

  • Self-storage
  • Multifamily

Resources

Check out Ken’s best-selling book, “Investing in Income Properties: The BIG SIX Formula for Achieving Wealth in Real Estate” for even more insight into Ken’s buying strategies.

For questions or investment opportunities, call Ken directly at (305) 469-6708 or email krosen@kendar.com

 

 

 

Ep. 136 Brian Willis & Gerry Tierney: Learn How Transit & Technology Changes Will Affect Your Property!

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automated transitTechnology is rapidly changing the way we look at the future. Innovations like automated transit are quickly nearing practical realities. In Tampa Bay, we’re seeing advancements in automated transit already, with the area being positioned as a proving ground for automated systems. Automation and other technologies will bring major changes to existing infrastructure.

No industry will be affected by these impending technologies more than real estate. From multifamily to retail, emerging technologies like automated transit will require an entire rethinking of real estate design and development. Urban planners, architects and developers need to consider these effects and start planning accordingly.

This episode, we discuss these changes on a local and national level. We look at what game-changing technologies are emerging and what urban planners and developers are doing to address these changes now.

Meet Our Guests

Tampa Bay sustainable transitBrian Willis is real estate attorney with Shumaker Loop & Kendrick. He is a leading advocate for integrated and sustainable transit in Tampa. Brian brings on-the-ground knowledge of the cutting-edge technologies here in Florida and how Tampa Bay is taking steps to integrate them into current real estate design and development.

 

real estate designGerry Tierney is an Associate Principal at Perkins + Will. Based out of San Fransisco, Gerry is a leading force for automated transit and mobility and adapting real estate design to suit these changing needs. He serves as the Co-Director of Smart Mobility Lab and has Collaborated with both UCLA – Berkeley and MIT in sustainability research.

Technologies Impacting Real Estate

  • Automated transit / autonomous vehicles
    • Autonomy integrating in public transit by 2020s
    • Subscription-based autonomous car ownership coming down the line

Future-proofing Current Real Estate Design

Urban planners, architects and developers needs to consider how current layout and designs will play into emerging technologies.

  • Adaptive Use
    • Big-box retail stores
    • Shopping malls
    • Existing parking structures
      • Vertical Parking vs. Horizontal
      • In-fill
      • Mechanized parking
  • Urban Design & Planning
    • Current developments built to accommodate automated transit
    • Changes to grid structure and street layouts
    • Rethinking asset classes
      • Industrial
      • Office
      • Multifamily
      • Retail

Resources

  • Contact Gerry at gerry.tierney@perkinswill.com or (415) 546-2933
  • Contact Brian at (813) 221-7165 or on Twitter @BrianWillisTPA

 

 

Ep. 134 Jason Ellison and Josh Diggs: Solving Tenant Issues – Commercial Evictions to Residential Fair Housing

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The relationship between a landlord and a tenant is unique, to say the least. Whether you invest in residential or commercial real estate, you must maintain a balanced relationship with your tenants.

If you do own tenant-occupied properties, you know that maintaining a balanced relationship is easier said than done at times. When dealing with tenants, there are defined rules and regulations for what you can and cannot do as a landlord; However when it comes to peoples’ homes or businesses, disagreements over a lease can quickly become a tricky situation.  Solving tenant issues can be one of the most important things a landlord can do to retain tenants and stay out of legal hot water.

This live discussion and recording is about solving these common tenant issues. We discussed the landlord/tenant relationship, as well as covering common pitfalls relating to things like evictions and fair housing. One our guests deals in commercial real estate litigation. The other is an owner of multi-family properties.

They are as follows:

commercial lease disputesJason Ellison is an attorney and founding partner of Ellison | Lazenby Law Firm. Jason is a real estate attorney and specializes in contract preparation and dispute resolution. He is highly experienced in landlord/tenant disputes, including evictions.

 

 

dealing with tenantsJosh Diggs is a veteran investor and co-founder/owner of Palm Companies. He is well versed in tenant/landlord relationships and will provide on-the-ground insight into property management issues.Through their property management arm, Palm Communities, Josh has on-the-ground experience managing multifamily properties and dealing with tenants.

 

Check out “Ep. 134: Dealing with Tenants – From Evictions to Fair Housing”!

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You can meet the Invest Florida hosts, get exclusive expert insight and even network with other real estate investors. To find out event information or to join our Meetup, click here.