Wednesday, October 10, 2012

NAI Southcoast expands presence on the Treasure Coast

NAI Southcoast, a commercial and industrial real estate firm based in Stuart, announced today the addition of a Fort Pierce brokerage to its network. The new office is located at 800 Virginia Ave., Suite 38A.

Headquartered in Stuart, NAI Southcoast provides a full spectrum of services available to regional, national and international clients via our global network of independent commercial real estate brokerage companies. These include dispositions, leasing, management and receiver work for Industrial, Office, Retail, Investment and Land properties. The firm also represents Tenants and Owners and currently manages nearly 730,000 SF of commercial property.

NAI Southcoast President Boyd Bradfield said the expansion into Fort Pierce is part of the company’s ongoing commitment to enhance client services.

“The addition of the Fort Pierce office aligns with our strategy to continue to grow our full-service platform, which includes asset and property management for assignments all along the Treasure Coast,” he said.

NAI Southcoast is also seeking one or two experienced commercial brokers to assist in covering St. Lucie and Indian River Counties. Interested candidates should submit resumes to scoast@naisouthcoast.com.

Wednesday, August 8, 2012

NAI Global’s Chief Economist sees unprecedented global government intervention in his latest white paper

In his latest white paper, “Unprecedented Global Government Intervention,” NAI Global Chief Economist, Dr. Peter Linneman, discusses the dangers and pitfalls of the extraordinary wave of global government intervention we are currently witnessing in capital markets.

Stuart-based NAI Southcoast represents NAI Global in Martin, St. Lucie and Indian River counties.

Citing historical examples, Linneman demonstrates that intervention leads to prolonged periods of stagnation and uncertainty; “In all, government activity is now deterring the very investment it was hoping to spur.”

“As we enter the third quarter of 2012, we are seeing the pattern of unprecedented government intervention continue,” states Dr. Linneman. “Governments around the world are using the powerful tools at their disposal; spending, regulations, fiscal policy, and taxes to interfere with the free market in hope of sparking economic recovery. The result is that instead of recovery, we are experiencing further distress as the Euro crisis intensifies and even Brazil and China’s economies slow.”

On the U.S. economy, Dr. Linneman notes, “the irony is that the belief in big government is occurring even as trust in the U.S. government (and most other governments) is near an all-time low.” He adds,

“Huge deficit spending causes private spending to decline as the private sector realizes that it has a greater future tax liability of equal magnitude. We have witnessed this in the U.S., almost dollar-for-dollar in deficit spending.”

The white paper also addresses the historical cause and effects of regulatory intervention, unemployment statistics, and the upcoming Fiscal Cliff set to unfold in January 2013.

Unprecedented Global Government Intervention follows Global Economic Round-Up where Dr. Linneman evaluated the state of the global economy in Europe, Asia and the United States, including the impact of the continuing European debt crisis, the rise of China and India and the current state of the U.S. economic recovery. The paper is available for free download at www.naisouthcoast.com.

Wednesday, May 23, 2012

Stuart Duffin of NAI Southcoast awarded CLS designation


Duffin
Stuart Duffin, a sales associate with NAI Southcoast, was officially recognized by the International Council of Shopping Centers (ICSC) as a Certified Leasing Specialist on May 18.

The designation reflects the high standards and expertise that are required on a day-to-day basis to be a successful shopping center professional.

Founded in 1994, the CLS program was designed to elevate professional standards, enhance individual performance and designate those who demonstrate knowledge essential to the practices of shopping center leasing. The CLS certification is designed to set the individual apart from other professionals and establishes them as a leader in their field. CLS designees must have at least four years of experience in shopping center leasing and pass a comprehensive exam.

The CLS designation is in addition to the Certified Commercial Investment Member (CCIM) designation Duffin has previously been awarded.

Tuesday, May 22, 2012

14,200 SF Office/Warehouse Space Sold in Stuart


NAI Southcoast sold a 14,200-square-foot freestanding building located at 2951 Dominica Terrace in Stuart May 11, 2012. The property, located off U.S. 1 in Stuart’s industrial area, was sold by WGTJ, Inc. to Quorum Marine & Electronics, Inc. for $675,000.

Boyd Bradfield and Stuart Duffin of NAI Southcoast brokered the sale after navigating an extensive short sale process that involved negotiating with two lenders Bank Atlantic and SBA. Daniel Haggerty of Mariner Title was instrumental in his work to complete the sale.

“It was a long process but everyone was very professional in working towards the common goal of getting this closed,” Duffin said.

Quorum Marine & Electronics, Inc. also known as Ocean Breeze, is a 20-year-old, Stuart-based business that manufactures marine-grade industrial and commercial A/C systems. Co-owner Carolyn Baruch said the company plans to buy new equipment and expand its staff in the near future.

Friday, April 13, 2012

Freestanding building sold in Palm City

The 3,998-square-foot freestanding building located at 995 SW Martin Downs Boulevard in Palm City sold earlier this month. The property, located just west of the Palm City Bridge, was sold by Shaher Barghouthy. Douglas Legler of NAI Southcoast brokered the sale after an extensive seven-month marketing campaign.

“The new owners plan to substantially renovate this property in accordance with the goals of the CRA and the community,” Legler said. “This will, in turn, improve the appearance of this highly-trafficked gateway into Palm City.”

Tuesday, April 3, 2012

Virginia Avenue Plaza in Fort Pierce sold to local buyer

Virginia Avenue Plaza, located at 800 Virginia Avenue in Fort Pierce, has sold. The 53,000- square-foot neighborhood shopping center, previously owned by H & H, LLC, was sold to Virginia Plaza, LLC.

The property was listed for just three months before being placed under contract and closed within 45 days. Nikolaus M. Schroth of NAI Southcoast represented the seller and Bryan Grunbaum, also of NAI Southcoast, represented the buyer in the transaction.

The new owners have been locally involved in commercial properties for more than 30 years. NAI Southcoast, who has managed, leased and brokered commercial properties on the Treasure Coast for more than 30 years, will handle the management and leasing for the shopping center.

Spaces are available for lease. Please contact Bryan Grunbaum at 772-286-6292 for additional information.

Thursday, March 29, 2012

VM Ironworks and Structural Steel Corp purchases warehouse space in Palm City


VM Ironworks and Structural Steel Corp. in Palm City recently purchased the 4,784-square-foot warehouse space located at 2170 SW Poma Drive in Palm City, Fla. First Citizens Bank/Ironstone Bank/Neuse, Inc. sold the property for $175,000.  Boyd Bradfield, President of NAI Southcoast, brokered the sale.

The company manufactures structural steel and miscellaneous ironwork, such as beams, columns, bar joists, decks, gates, railings and staircases.

Vice President Darren Marzella said he plans to use the space as a fabrication plant.

Centerline Utilities, Inc. purchases warehouse space in Palm City

Centerline Utilities, Inc., a site contractor based in Jupiter, recently purchased the 4,784-square-foot warehouse space located at 2180 SW Poma Drive in Palm City, Fla. First Citizens Bank/Ironstone Bank/Neuse, Inc. sold the property for $315,000. Boyd Bradfield, President of NAI Southcoast, brokered the sale.

Centerline Vice President Freddy Chesney said he plans to relocate corporate headquarters from Jupiter to the Palm City space to stay ahead of the market.

“Our business is site development, and we see it pushing north in the next five to 10 years,” he said.

Tuesday, March 20, 2012

Kissimmee-based coffee company to open second location in Downtown Stuart


Quokka Coffee will soon occupy Unit 103 at Civitas Place in Downtown Stuart, across from the Martin County Courthouse. 101 East Ocean Blvd, LLC purchased the property from Capstone ResDev, LLC for $145,000, Boyd Bradfield and Nikolaus Schroth of NAI Southcoast brokered the transaction.

Civitas Place
Quokka Coffee is a coffee shop and café boasting fair trade coffee and locally-produced goods with an Australian flair. The concept also incorporates selling a selection of Australian beer and wine in the evening. Presently Quokka Coffee has one other location in downtown Kissimmee.

Tim Majors, President of Quokka Coffee, is an Australian and a former attorney. Majors launched a successful retail educational business across Australia and then sold it to a private equity firm in 2007.

Majors moved with his wife and three children to Florida soon after and opened the first Quokka Coffee in Kissimmee. The Stuart location is scheduled to open June 1, 2012, and several more are slated to open this year and the next.

“Stuart is the perfect fit for our brand,” Majors said. “It’s a great town, and our concept, we hope, will only add value to the community. We look forward to being an active and valued member of the business community.”

For more information about Quokka Coffee, go to www.quokkacoffee.com.

NAI Southcoast is the oldest Commercial and Industrial Realtor in the Stuart and Treasure Coast marketplace. As such, it is uniquely qualified to maximize the marketing of quality commercial, industrial and investment properties.

For more information about NAI Southcoast, please visit www.naisouthcoast.com.

NAI Global is the world's leading managed network of 5,000 professionals, 325 offices in 55 countries. Since 1978, our clients have built their businesses on the power of our expanding network. NAI Global’s extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services.  To learn more, visit www.naiglobal.com.

Tuesday, February 21, 2012

NAI Southcoast Professionals Attend 2012 NAI Global Convention

NAI Southcoast President Boyd Bradfield, Jr., Marketing Director Samantha Lee and Social Media Manager Amy Morris attended the 2012 NAI Global Convention in Las Vegas in early February.
The three-day event included keynote speakers Jeffrey M. Finn, President and CEO of NAI Global, and Andrew L. Farkas, CEO of C-III Capital Partners, LLC. C-III recently added NAI Global to its portfolio of real estate service providers.

The speakers talked about NAI Global‟s unique position to become the premier company in the real estate industry by combining C-III‟s formidable asset base and resources, proven track record and vast expertise with NAI Global‟s broad reach, depth of market knowledge, customer-centric service and business savvy.

Bradfield attended breakout sessions that focused on the long-term goals and the near-term opportunities for NAI Southcoast, as well as the direction of the global economy. Though the South Florida commercial real estate market saw signs of stabilization in 2011, it appears that it may take another five to seven years to fully recover as a result of loans coming due and the lack of replacement capital available.

“The convention provided a snapshot of how different offices, including ours, strengthened during this tumultuous economic period,” Bradfield said. “It also provided the opportunity to build relationships designed to secure new business and deliver superior service to our clients.”

Lee and Morris participated in in-depth marketing sessions that covered PR, layout and design, mobile and video marketing, blogs, QR codes, social media campaigns and more.

“This „Marketing Boot Camp‟ introduced us to new strategies and technologies that will help us be more creative and efficient,” Lee said. “We‟re already putting this knowledge to work on behalf of our clients.”

NAI Southcoast (www.naisouthcoast.com) represents NAI Global in Martin, St. Lucie and Indian River counties. It’s the oldest Commercial and Industrial Realtor in the Stuart and Treasure Coast marketplace. As such, it is uniquely qualified to maximize the marketing of quality commercial, industrial and investment properties.

Services include:
  • Brokerage
  • Corporate Services
  • Acquisitions/Dispositions
  • Investment Services
  • Leasing Agency/Landlord Representation
  • Tenant Representation
  • Property & Facilities Management
  • Market Analytics/Site Selection
  • Appraisal/Valuation

NAI Global (www.naiglobal.com) is the largest network of independent commercial real estate firms worldwide, comprised of over 5,000 professionals in 55 countries with more than 350 offices. NAI advisors work in tandem with our global management team to ensure our clients strategically optimize their real estate assets. NAI offices complete over $45 billion in combined transactions annually and manage 300+ million square feet of commercial space.

C-III is a leading commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, title services and multifamily property management., who founded and was Chairman and CEO of Insignia Financial Group, Inc. (NYSE:IFS). Its principal place of business is located in Irving, TX, and it has additional offices in New York, New York; Greenville, South Carolina; McLean, Virginia; Chicago, Illinois; Dallas, Texas and Nashville, Tennessee.

Monday, February 20, 2012

NAI Southcoast Participates in Executive Conference on Real Estate Workouts


Boyd Bradfield, Jr., President of NAI Southcoast, attended the 2012 Information Management Network's Second Annual Florida Bank and Financial Institutions Special Asset Executive Conference on Real Estate Workouts. The event was held January 30-31 at the Westin Golf Resort and Spa in Hallandale, Fla.

IMN is a New York City-based company that produces 50 financial and 15 real estate conferences a year. These conferences provide a forum for industry leaders to discuss critical real estate issues.

Bradfield joined a host of other top-level executives to discuss topics relevant to the current commercial real estate market, such as single asset versus portfolio sales, FDIC sales, selling assets in a bankruptcy setting, selling to foreign buyers, collecting/enforcing judgments, valuation/loss recognition/write downs and more.

“In regards to the current economy, this gathering of financial and real estate professionals was very useful," Bradfield said. "We exchanged ideas and information that will clearly benefit NAI Southcoast clients in the coming year."

About NAI Southcoast
NAI Southcoast (www.naisouthcoast.com) represents NAI Global in Martin, St. Lucie and Indian River counties. It’s the oldest Commercial and Industrial Realtor in the Stuart and Treasure Coast marketplace. As such, it is uniquely qualified to maximize the marketing of quality commercial, industrial and investment properties.

Tuesday, January 31, 2012

Acquisition of NAI Global by C-III Capital Partners is complete

Boyd Bradfield, Jr.
President, NAI Southcoast
NAI Global, the largest network of independent commercial real estate firms worldwide, announced today that its previously reported acquisition by C-III Capital Partners LLC (C-III) has been completed. The transaction will help create a leading fully integrated commercial property services company that will operate in markets around the world. Locally-based NAI Southcoast represents NAI Global in Martin, St. Lucie and Indian River counties.

C-III is a leading commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, title services and multifamily property management. C-III is led by CEO Andrew L. Farkas, who founded and was Chairman and CEO of Insignia Financial Group, Inc. (NYSE:IFS). Its principal place of business is located in Irving, TX, and it has additional offices in New York, New York; Greenville, South Carolina; McLean, Virginia; Chicago, Illinois; Dallas, Texas and Nashville, Tennessee.

NAI Global will continue to operate as a separate company under its current management. C-III will accelerate NAI Global’s growth by exploring business development opportunities in strategic locations, including New York, London, Singapore and other primary global business centers. It will also invest in the growth of the corporate solutions and capital markets offering, expanding asset/property management, project/facilities management and valuation services worldwide.

“The completion of this transaction represents a significant step forward in our strategy to build a fully diversified commercial real estate services company,” said Mr. Farkas. “With the NAI Global acquisition, we are gaining the world’s leading commercial real estate network and a tremendous foundation for future growth. As we begin a new year, we look forward to partnering with the NAI team to provide enhanced services to the commercial and institutional real estate markets they serve as well as continuing to take advantage of other opportunities to grow and expand our platform.”

“We are thrilled to be joining forces with C-III and excited about the opportunity to deliver an even broader range of services to our members and add greater value to our collective corporate and investment clients. We look forward to tapping into their extensive resources and expertise to assist all of our clients in strategically optimizing their commercial real estate assets,” said Jeffrey M. Finn, President and CEO of NAI Global.

“This partnership with C-III establishes a tremendous foundation for future growth,” Boyd Bradfield, President of NAI Southcoast, said. “We’re excited about the opportunity to deliver greater value and an even broader range of services to our clients.”

Founded in 1977 by Gerald Finn, NAI Global has grown from covering 15 countries in 1999 to offering a full, collaborative platform of services to clients in over 350 offices in 55 countries, with over 300 million square feet of commercial space under management.

C-III commenced operations with the purchase of Centerline Capital Group’s institutional real estate debt fund management and commercial mortgage loan servicing businesses in March 2010. Since that time, C-III has successfully launched mortgage origination, investment sales and title insurance businesses, and expanded its principal investment, loan origination, fund management and primary and special loan servicing businesses, including acquiring the special servicing and CDO management businesses of JER Partners in August 2011.

Financial terms of the NAI Global acquisition were not disclosed.

NAI Global (www.naiglobal.com) is the largest network of independent commercial real estate firms worldwide, comprised of over 5,000 professionals in 55 countries with more than 350 offices. NAI advisors work in tandem with our global management team to ensure our clients strategically optimize their real estate assets. NAI offices complete over $45 billion in combined transactions annually and manage 300+ million square feet of commercial space.

NAI Southcoast (www.naisouthcoast.com) represents NAI Global in Martin, St. Lucie and Indian River counties. It’s the oldest Commercial and Industrial Realtor in the Stuart and Treasure Coast marketplace. As such, it is uniquely qualified to maximize the marketing of quality commercial, industrial and investment properties.

Its services include:
•    Brokerage
•    Corporate Services
•    Acquisitions/Dispositions
•    Investment Services
•    Leasing Agency/Landlord Representation
•    Tenant Representation
•    Property & Facilities Management
•    Market Analytics/Site Selection
•    Appraisal/Valuation

Friday, January 20, 2012

511-Unit Port St. Lucie Storage Facility Changes Hands

Boyd Bradfield, President

Storage West, a 65,411-square-foot, 511-unit residential storage facility located at 525 SW South Macedo Blvd., changed hands for $3.1 million earlier this week. Storage West LLC hired Boyd Bradfield, President of NAI Southcoast, to market the property. Bradfield implemented an extensive marketing campaign that resulted in 10 offers—four of which were in the acceptable range.  

Of these four, the Seller chose to deal with an investor from Jacksonville who owns several storage facilities throughout Florida. The Buyer, Storage West Group, LLC, plans to keep most of the existing staff, change the hours of operation and introduce processes that will make the facility even more competitive.

NAI Southcoast is the oldest Commercial and Industrial Realtor in the Stuart and Treasure Coast marketplace. As such, it is uniquely qualified to maximize the marketing of quality commercial, industrial and investment properties.

For more information about NAI Southcoast, please visit www.naisouthcoast.com.

NAI Global is the world's leading managed network of 5,000 professionals, 325 offices in 55 countries. Since 1978, our clients have built their businesses on the power of our expanding network. NAI Global’s extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services.  To learn more, visit www.naiglobal.com.