NAI Realvest Brokerage and Property Management Divisions Win Two New Contracts

NAI Realvest Brokerage and Property Management Divisions Win Two New Contracts

ORLANDO, Fla. - NAI Realvest, which currently ranks among the top five commercial property management firms with more than four million square feet of office, retail and industrial space, won two exclusive leasing and property management contracts recently.

Ken Runge, Vice President of Property Management at NAI Realvest, said the firm has been appointed property manager and leasing firm for Citadel International, a Class A office building located at 5950 Hazeltine National Drive near Orlando International Airport.

The firm also received the property management and leasing assignments for Grindle Village, a 22,000 square foot retail center located off Howell Branch Road and S.R. 436 in Winter Park.

NAI Realvest Principal Kevin O’Connor will head up the leasing team for Grindle Village and Senior Associate Mary Frances West, CCIM will lead the leasing team for Citadel International.

“We are very excited as our Property Management Portfolio continues to grow by providing our property owners and tenants with the highest level of customer service,” said Runge. “Teaming with our Brokerage Division, we are able to improve revenues by adding new tenants and retaining existing tenants, while continuing to reduce operating expenses for our properties.”

For more information, contact:
Ken Runge, Vice President of Property Management NAI Realvest, 407-875-9989; krunge@realvest.com;
Patrick Mahoney, President and COO NAI Realvest, 407-875-9989, pmahoney@realvest.com
Paul P. Partyka, Managing Partner NAI Realvest 407-875-9989 ppartyka@realvest.com;
George Livingston, Chairman Emeritus NAI Realvest, 407-875-9989, glivingston@realvest.com
Janice Paiano, Director of Marketing, NAI Realvest 407-875-9989 jpaiano@realvest.com
Larry Vershel, Larry Vershel Communications, Inc. 407-644-4142 lvershelco@aol.com.

About NAI Realvest
NAI Realvest, covering all of Central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide. NAI Global is an international commercial real estate network with over 325 offices spanning the globe. Since 1978, clients have built businesses on the power of NAI Global’s expanding network. 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 http://www.nairealvest.com/.

NAI Realvest Negotiates New Lease Agreement with Software Developer for 1,100 square feet in Winter Park

NAI Realvest Negotiates New Lease Agreement with Software Developer for 1,100 square feet in Winter Park

ORLANDO, Fla. - NAI Realvest recently negotiated a new lease agreement for 1,100 square feet of office space at the Winter Park Commerce Center, 3586 Aloma Ave. in Winter Park.

Don Rudolph, CCIM, associate and office leasing specialist at NAI Realvest negotiated the transaction representing the tenant, Jarex Games, Inc. of Winter Park. Jarex Games is a developer of software for the computer gaming industry.

Virginia B. Schuur Trust of Winter Park is the landlord.

For more information, contact:
Don Rudolph, CCIM, NAI Realvest, 407-875-9989, drudolph@realvest.com
Janice Paiano, Director of Marketing, NAI Realvest, 407-875-9989, jpaiano@realvest.com
Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142

About NAI Realvest:
NAI Realvest in Orlando, covering all of Central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide. NAI Global is an international commercial real estate network with over 325 offices spanning the globe. Since 1978, clients have built businesses on the power of NAI Global’s expanding network. 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 http://www.nairealvest.com/.

U.S. Economic Stimulus Program Contains Promising Elements,But Not Enough, Lender Says

U.S. Economic Stimulus Program Contains Promising Elements,But Not Enough, Lender Says

ALTAMONTE SPRINGS, Fla. - The U.S. Economic Stimulus program has many good elements that will help small businesses but some miss the point, according to Christopher Hurn, chief executive officer of one of the nation’s leading providers of U.S. Small Business Administration (SBA) 504 loans for small business owners.

Hurn, CEO of Mercantile Capital Corporation based in Altamonte Springs and a popular speaker at banking conferences and seminars who posts his own blog at http://www.504blog.com/, said the U.S. Economic Stimulus program deserves kudos for promising to buy up to $15 billion worth of guaranteed SBA loans.

Hurn said the stimulus package also eliminates all SBA fees on both SBA 504 loans and the agency’s SBA 7(a) loan program at a cost of $245 million.

In addition, the administration has announced it will waive capital gains taxes for small business owners who hold or have held their shares for a minimum of five years.
“Those are positive signs for small business owners,” Hurn said.

“The Treasury buys in the secondary market will add liquidity to the banking environment and thaw out the secondary market and commercial lending---small business lending,” Hurn explained.

But, Hurn cautioned, temporarily eliminating fees on SBA loans won’t have much effect on economic stimulation or job growth.

“Fee elimination, even on a temporary basis, doesn’t impact small business owners that much because these aren’t out-of-pocket fees. These fees are actually financed in the loans, so even though it sounds good rhetorically, I don’t know that it’s going to have much of a stimulative effect,” Hurn said.

Hurn said the stimulus program fails in some other regards as well.

“We haven’t addressed any taxation at all,” he said. “There are no new higher tax credits for 2009, which I think would help grow the job base if properly incentivized. There is no mention of a payroll tax holiday for 2009. That would put more dollars in employees’ and employers’ pockets, and these are the kinds of elements that would have an immediate effect and jump start the economy,” Hurn said.

For more information, please contact
Chris Hurn, CEO, Mercantile Capital Corporation, 407-786-5040
Geof Longstaff, Chairman, Mercantile Capital Corporation, 407-786-5040
Shannon D. Marks, COO, Mercantile Capital Corporation, 407-786-5040
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

ICI Homes Collects More Than 420 Pounds of Snacks, Toiletries, Comfort Items to Send to Soldiers Serving in Iraq, Afghanistan

ICI Homes Collects More Than 420 Pounds of Snacks, Toiletries, Comfort Items to Send to Soldiers Serving in Iraq, Afghanistan

DAYTONA BEACH, Fla. - ICI Homes recently collected more than 420 pounds of snacks, toiletries and comfort items to ship to soldiers serving in Iraq and Afghanistan.

Rosemary Messina, vice president of sales and marketing at ICI Homes in Daytona Beach, said employees and administrators at ICI Homes personally collected the items for distribution to units overseas.

“Each year we collect goodies to send to our troops,” said Messina. “They seem like small luxuries to us here in Florida, but over there such small necessities as gum and candy, shaving supplies, and comfort items mean a lot,” she said.

One of the military contacts on this project -- an Army Mental Health Officer out of Camp Blanding in Starke --- regularly talks to soldiers on active duty when they're downhearted or sad. "She then gives them one of our goodie-packed shoeboxes," Messina said.

"This helps cheer up everybody and makes time go by a little easier. But we love what we do," the Army spokesperson said.

For more information, please contact:
Lisa A. Egle, Marketing Manager ICI Homes-Daytona Beach, 386-236-4273
Rosemary Messina, VP Sales & Marketing ICI Homes, 386-236-4231
Larry Vershel or Beth Payan, LV Communications, 407-644-4142

About ICI Homes:
ICI homes, ranks among the top 100 Builders by Builder magazine and is one of the largest privately owned homebuilder in the US. The 30-year-old firm builds new homes and resort facilities in the Volusia-Flagler region as well as Northeast Florida, Orlando and Tampa.

Mattamy Homes Hosts More Than 40 Charlotte-Area Realtors at Continuing Education Seminar, Tours of Westland Farm, Riverbend

Mattamy Homes Hosts More Than 40 Charlotte-Area Realtors at Continuing Education Seminar, Tours of Westland Farm, Riverbend

CHARLOTTE, N.C. - Mattamy Homes USA, the U.S. division of Canada’s largest home builder, teamed up with Charlotte-based Superior School of Real Estate and owner Bill Gallagher to host more than 40 Charlotte-area Realtors at a Continuing Education seminar with tours of Mattamy’s Westland Farm and Riverbend communities.

Marie Lorimer, marketing manager for Mattamy Homes in the Charlotte region, said the seminar was held at Harvest Town Church in Charlotte.

“We had an exceptional turnout and we were able to showcase some very interesting features and model homes,” said Lorimer.

“We have an excellent relationship with the Realtor community in Charlotte and Bill Gallagher was a tremendous draw,” she said.

Hotel Charlotte catered the luncheon event.

Mattamy Homes ranks as Canada’s largest home builder, with annual revenues in excess of $1 billion. Mattamy Homes USA operates divisions in Charlotte, Jacksonville, Orlando, Minneapolis and Phoenix.

For more information contact:
Marie Lorimer, Marketing Manager, Mattamy Homes-Charlotte, 704-375-9373
Laura Bailey, VP of Sales and Marketing, Mattamy Homes-USA, 407-599-9994
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

About Mattamy Homes:
Mattamy Homes http://www.mattamyhomes.com/ expanded into the U.S. in 2003 and is headquartered in Winter Park, Fla. with divisions in Orlando, Jacksonville Phoenix, Minneapolis and Charlotte,. The homebuilder, the largest and most active in Canada with annual revenues exceeding $1.3 billion was ranked among the highest of all homebuilders in the greater Toronto and Ottawa areas in a nationwide customer satisfaction survey conducted by J.D. Power Associates.

Coldwell Banker Commercial Agent Sells former DeBary Italian Restaurant to Couple with a Taste for the Far East

Coldwell Banker Commercial Agent Sells former DeBary Italian Restaurant to Couple with a Taste for the Far East

DEBARY – A DeBary dining fixture – that for more than 35 years has specialized in everything from seafood to Italian cuisine – has been sold and is undergoing renovations that will transform it into a Chinese restaurant.

Karen Burgess, a Coldwell Banker Commercial AI Group associate, said the 4,376-square-foot building at 54 South U.S. Highway 17-92 in DeBary recently was sold to Jie Chao Huang and Qing Qing Haung of Deltona for $285,000.

The sellers were Allen C. Woodruff and Han M. Woodruff of Lake Mary, according to Burgess, who represented both parties.

Burgess said Won’s Restaurant – which most recently was an Italian restaurant named Bella Vita – is expected to open in the next few months after a remodeling project is completed.

About Coldwell Banker Commercial AI Group:
Owned and operated by commercial real estate veterans John Wanamaker and Chuck Rudis, Coldwell Banker Commercial AIG is a leader in the listing, leasing and selling of properties, as well as a premier developer of community-friendly and LEED-accredited projects for small business owners.

For more information about this release, please contact:
Chuck Rudis, John Wanamaker or Stepan Babanin, Coldwell Banker Commercial AI Group, 386-775-8633, chuck@cbcaigroup.com, john@cbciagroup.com or stepan@cbciagroup.com
Charlene Hager-Van Dyke, Larry Vershel Communications, 386-837-8780, 407-644-4142 or chagervandyke@yahoo.com

NAI Realvest Negotiates lease agreements totaling more than 12,000 square feet at CommerCenters in Orlando, Winter Garden, Sanford

NAI Realvest Negotiates lease agreements totaling more than 12,000 square feet at CommerCenters in Orlando, Winter Garden, Sanford

ORLANDO, Fla. – Michael Heidrich, principal at NAI Realvest, recently negotiated four lease agreements for a total of 12,200 square feet of industrial space at CommerCenters in Orlando, Winter Garden and Sanford.

In Orlando, Heidrich negotiated the sublease of suites 310 and 315 with 4,382 square feet at Goldenrod CommerCenter, 1476 N. Goldenrod Rd. representing Small Bay Partners, the sublessor. The sublessee/tenant is Issac Vasquez of Winter Park. At the same location, Heidrich negotiated a lease for 2,191 square feet representing the landlord, COP-Goldenrod, LLC and the new tenant is Islamic Society of Central Florida, Inc. of Orlando.

Heidrich negotiated a new lease for 1,875 square feet in suite 290 at Carter CommerCenter, 902 Carter Rd. in Winter Garden representing landlord COP-Carter LLC of Maitland. Liberty Diagnostics LLC of Winter Garden is the tenant.

At Monroe CommerCenter South in Sanford, Heidrich negotiated renewal of the sublease of 3,750 square feet at 4153 Flex Court representing The Girard Companies, LLC, sublessor. Sanford-based Total Medical Solutions is the sublessee.

For more information, please contact:
Michael Heidrich, Principal, NAI Realvest 407-875-9989, mheidrich@realvest.com
Janice Paiano, Director of Marketing, NAI Realvest, 407-875-9989, jpaiano@realvest.com
Beth Payan, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com

About NAI Realvest:
NAI Realvest, covering all of Central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide. NAI Global is an international commercial real estate network with over 325 offices spanning the globe. Since 1978, clients have built businesses on the power of NAI Global’s expanding network. 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 http://www.nairealvest.com/.

Beazer Homes offers back-to-basics tips on buying the home of your means

RECORD LOW MORTGAGE RATES ENTICE HOMEBUYERS: Beazer Homes offers back-to-basics tips on buying the home of your means

TAMPA, Fla., - You don’t have to be an expert in economics to know that as interest rates drop, mortgage applications rise. Add the lowest mortgage rates in recorded history, and lenders are working double time to meet the demand.

Freddie Mac Interim CEO John Koskinen predicts that mortgage rates, which are holding in the mid to upper 4 percent range, are “probably as good as it’s going to get” and “interest rates are probably close to bottoming out.” The government sponsored mortgage investment company is recommending that people buy now.

While much of the current loan activity centers around refinancing, the low rates also are attracting homebuyers into the market. Many of those include first-time buyers who are also enticed by the new $8,000 tax credit.

“Record-low mortgage rates, great pricing and the new tax credit have combined to push consumer buying power through the roof,” said Alan Beulah, general sales manager of the Tampa division for Beazer Homes, one of the country’s top 10 home builders. “How long it lasts is anyone’s guess.”

Simply put, the lower the mortgage interest rate, the more home a buyer can afford to purchase. For example, a monthly payment on a $250,000 mortgage would be roughly $1,200, assuming a 5 percent down payment and a 30-year loan at 4.5 percent.

However, if the interest rate goes up to 6.25 (which it was in November 2008) that same $1,200 mortgage payment would apply to a home valued at just $205,000—a $45,000 reduction in buying power.

In deciding how much home you can afford, experts recommend that first-time homebuyers, and even seasoned homeowners, follow some practical “old school” advice.
Most mortgage counselors or financial advisors suggest using the 28/36 rule. This basically means that your monthly housing expenses like the mortgage, insurance and property taxes should be no more than 28 percent of your gross monthly income. And, all your debt combined should account for no more than 36 percent of your gross income.

Depending on your circumstances, there may be some flexibility in easing the 28/36 rule, like including a co-signer on the mortgage or making a large down payment.
And, according to Beulah, not all loans require a hefty down payment. For example, FHA loans, which are insured by the federal government, only require a 3.5 percent down payment, which is much less than the 20 percent required with some conventional loans.

For example, on a $225,000 home, an FHA down payment would total $7,875, whereas a conventional mortgage would require $45,000 on the same price home.

“Contrary to what you may have heard, qualified buyers should not have any trouble getting a mortgage,” said Beulah. “Beazer has partnered with Bank of America/Countrywide to ensure our buyers receive fast, personalized service and won’t be pushed to the back of the line behind those seeking to refinance.”

Beazer has four new home communities throughout the Tampa area, with prices ranging from low $100s to mid $200s. For more information or to find a new home community in your area of interest, visit Beazer.com.

Contact:
Alan Beulah, General Sales Manager, 813-663-9002, Abeulah@beazer.com

Now Marketplace Appoints Kate A. Frost as Account Executive

Now Marketplace Appoints Kate A. Frost as Account Executive

WINTER SPRINGS, Fla. - Now Marketplace, Inc., an innovative marketing agency that develops web-based marketing strategies for retail and professional clients, has appointed Kate A. Frost as Account Executive.

Christy Roman, president and chief executive officer of Now Marketplace, said Frost earned her B.A. Degree in Advertising and Public Relations from the University of Central Florida and has more than eight years of experience as a marketing executive.

“Kate Frost is one of the best and brightest young marketing executives in Central Florida,” said Roman. “She was named Employee of the Year by Time Warner in her first position after graduation and she has held progressively more responsible executive positions ever since. We expect her to play a major role in our continued growth,” Roman said.

Most recently, Frost served as Director of Strategic Marketing and Business Development at Toyota Scion of Orlando, the Central Florida region’s largest dealership.

Now Marketplace, Inc. is a one-stop solution that helps businesses realize the potential of the Internet as the most effective advertising vehicle in existence. The firm specializes in online marketing for retail clients, with a focus on auto dealers.

Now Marketplace, Inc. is a client company of the University of Central Florida’s Business Incubation Program in Winter Springs, a partnership that includes the University, Seminole County, the City of Winter Springs and the Florida High Tech Corridor Council.

For more information contact:
Christy Roman, President, Now Marketplace, 407-667-4788
Esther Vargas-Davis, Site Manager, UCF Business Incubator–Seminole County, 407-278-4881; evargasd@mail.ucf.edu;
Dr. Tom O’Neal, Executive Director, UCF Business Incubation Program, 407-882-1120;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

About the UCF Incubation Program
Since its founding in 1999, the UCF Business Incubation Program has helped more than 100 emerging companies (including nearly 70 current clients) create over $500 million in annual revenue and more than 900 new jobs with an average salary of $59,000. With five facilities across the Greater Orlando community, the Incubation Program is a collaboration in economic development between the University of Central Florida, Orange County, the City of Orlando, Seminole County, the City of Winter Springs, and the Florida High Tech Corridor Council. For more information, please visit http://www.incubator.ucf.edu/.

Therigy, LLC Launches Internship Program for Pharmacy Students

Therigy, LLC Launches Internship Program for Pharmacy Students

ORLANDO, Fla. - Therigy, LLC, the Orlando-based company that focuses on the specialty pharmaceutical industry, has launched an internship program to provide pharmacy students a first-hand look at the research and development side of the pharmaceuticals industry.

Joseph D. Morse, president of Therigy, said the internship program has already welcomed its first participant, a student at the University of Florida’s College of Pharmacy in Gainesville.

“Our program focuses on the drug information side of the industry and provides students with a unique opportunity to learn about the high growth specialty pharmaceutical segment,” Morse said.

Pharmacy students in Florida are required to complete 11 months of Advanced Pharmacy Practice Experience (APPE) for graduation. Students participate in one-month rotations at a variety of institutions.

Therigy develops information products and provides consulting services to support specialty pharmaceuticals – biotech and high cost medications that require unique distribution, patient support and reimbursement services. The firm works with pharmaceutical manufacturers, pharmacies and payors to assure appropriate use and optimal outcomes.

Therigy is a member client of the University of Central Florida Business Incubation Program.

For more information, please contact:
Joseph D. Morse, President, Therigy, LLC, 407-992-8752; Joseph.Morse@Therigy.com;
Gordon Hogan, Site Manager, UCF Business Incubation Program, 407-882-1577; Bizdev@mail.ucf.edu;
Larry Vershel or Beth Payan, Larry Vershel Communications Inc., 407-644.4142; lvershelco@aol.com.

About Therigy Corporation:
For those who invest in, manufacture, dispense, pay for, and administer specialty pharmaceuticals, Therigy is the healthcare industry’s trusted source for rapidly changing business, clinical, and operational intelligence as well as vital advisory and consulting services that assure appropriate use and optimal outcomes. Therigy’s well-known experts track and report on industry advances delivered through subscriptions as well as providing hands-on engagement to assist organizations in operational evaluation and optimization, planning and development of best-practices and clinical protocols, or a variety of other specialized research and analysis. Therigy clients include Allergan, Cigna, McKesson, PrecisionRx, Prime Therapeutics, and many others.

About the UCF Incubation Program:
Since its founding in 1999, the UCF Incubation Program has helped more than 100 emerging companies (including nearly 70 current clients) create over $500 million in annual revenue and more than 900 new jobs with an average salary of $59,000. With five facilities across the Greater Orlando community, the Incubation Program is a collaboration in economic development between the University of Central Florida, Orange County, the City of Orlando, Seminole County, the City of Winter Springs, and the Florida High Tech Corridor Council. For more information, please visit http://www.incubator.ucf.edu/.

Condominium Owners, Investors Should be Wary of Recent Changes to Florida Condominium Law, Says Leading Florida Broker

Condominium Owners, Investors Should be Wary of Recent Changes to Florida Condominium Law, Says Leading Florida Broker

TAMPA, Fla. - Condominium owners and potential investors should pay particular attention to recent changes in Florida’s condominium law, as new options open doors to higher values in an otherwise bottoming market.

Kelly Oliver, investment advisor and multifamily property specialist at Grubb & EllisCommercial Florida, said two of the new changes can offer particularly beneficial opportunities for developers.

“Many condominium communities could fall under what is generally called ‘fractured condo’ status,” Oliver said.

A ‘fractured condo’ occurs when a rental apartment community is converted to condominium status, but too many units remain unsold.

“That’s happened all over Florida,” Oliver said. Recent changes in the condominium law allow 80 percent of unit owners in a community to restructure condominiums as fee-simple rental apartments, which could offer higher value and tax advantages too, Oliver explained.

But fractured condo status has several pitfalls, Oliver warned.

“Unit owners should be aware of all the requirements,” Oliver said. Control over the condominium association and qualification of owners as ‘developers’ under Florida law are crucial to reconverting condominiums into rental apartments, she explained.

“In some cases, it is advantageous to consider conversions to a rental community, but the process is complex and must be followed carefully so as not to jeopardize the interests of the unit owners,” Oliver said.

About Grubb & Ellis:
Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies. With more than 130 owned and affiliate offices worldwide, Grubb & Ellis offers property owners, corporate occupants and investors comprehensive integrated real estate solutions, including transaction, management, consulting and investment advisory services supported by proprietary market research and extensive local market expertise.

Grubb & Ellis and its subsidiaries are leading sponsors of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including tax-deferred 1031 tenant-in-common (TIC) exchanges; public non-traded real estate investment trusts (REITs) and real estate investment funds. As of September 30, 2008, more than $3.8 billion in investor equity has been raised for these investment programs. The company and its subsidiaries currently manage a growing portfolio of more than 225 million square feet of real estate. In 2007, Grubb & Ellis was selected from among 15,000 vendors as Microsoft Corporation's Vendor of the Year. For more information regarding Grubb & Ellis Company, please visit http://www.grubb-ellis.com/.

For more information, contact:
Kelly Oliver, Grubb & EllisCommercial Florida, 813-639-1111 Ext 262
Jeffrey Sweeney, Grubb & EllisCommercial Florida, 407-481-5387
Larry Vershel, Larry Vershel Communications, 407-644-4142