ORLANDO - The nationwide economic downturn will result in an increase in commercial real estate foreclosures this year, one of the region’s top commercial property executives told a Tampa real estate summit recently.
Jeff Sweeney, SIOR, president of Grubb & EllisCommercial Florida, with offices in Tampa, Orlando and Melbourne, moderated a panel discussion at the Tampa Distressed Real Estate Summit.
The Tampa Distressed Real Estate Summit was sponsored by the Real Estate Communications Group.
“Commercial property owners are facing some of the same sorts of financial challenges that home owners have been facing and the result is a substantial increase in the volume of distressed properties throughout Florida,” Sweeney told the group.
“Property owners who are losing tenants or granting concessions in order to keep their buildings filled are having difficulty making payments on their commercial property loans, and that adds tremendous pressure to banks,” Sweeney said.
Sweeney’s panel focused on adding value to distressed assets.
Ray Hayhurst, an associate at Grubb & EllisCommercial Florida, and Don Lombardi, who heads Commercial Florida Advisors, an affiliate of Grubb & EllisCommercial Florida in Tampa, also moderated panel discussions on evaluating commercial properties and partially completed construction projects.
Sweeney predicts that Grubb & EllisCommercial Florida will see a 30 percent increase in 2010 distressed commercial property sales over 2009 levels, as a result of the economic downturn.
* * *
About Grubb & EllisCommercial Florida: Grubb & EllisCommercial Florida is an affiliated commercial real estate services firm specializing in the leasing and sale of office, industrial, retail, land and investment properties. Currently Grubb & EllisCommercial Florida has 40 brokers divided among its Orlando, Melbourne and Tampa offices to serve the entire mid-Florida marketplace.
About Grubb & Ellis: Named to The Global Outsourcing 100™ in 2009 by the International Association of Outsourcing Professionals™, Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies in the world. Our 6,000 professionals in more than 130 company-owned and affiliate offices draw from a unique platform of real estate services, practice groups and investment products to deliver comprehensive, integrated solutions to real estate owners, tenants and investors. The firm’s transaction, management, consulting and investment services are supported by highly regarded proprietary market research and extensive local expertise. Through Grubb & Ellis Realty Investors, the company is a leading sponsor of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including public non-traded real estate investment trusts (REITs), tenant-in-common (TIC) investments suitable for tax-deferred 1031 exchanges and other real estate investment funds. For more information, visit www.grubb-ellis.com.
CONTACT: Jeff Sweeney, SIOR 407-481-5387, 315 E. Robinson St. Suite 555, Orlando, FL 32801, www.commercialfl.com
Showing posts with label summit. Show all posts
Showing posts with label summit. Show all posts
Wednesday, February 10, 2010
Friday, November 13, 2009
CEO Nexus, Edward Lowe Foundation to Present Economic Gardening Initiative during Orlando Chamber’s B.I.G. Summit Nov. 19
ORLANDO, Fla. --- CEO Nexus and the Edward Lowe Foundation will present a strategy to coordinate economic gardening in the Orlando region during the Orlando Chamber of Commerce B.I.G. Summit at the Hilton Orlando on Wednesday, Nov. 19.
Featured speakers at the conference include Cameron Ford, founding director of the University of Central Florida’s Center for Entrepreneurship and Innovation, Dr. Tom O’Neal, executive director of the UCF Business Incubation Program, Tony Hsieh, CEO of Zappos.com, Michael Poole, CEO of PCE Companies and Steve Quello, president of CEO Nexus in Orlando.
CEO Nexus brings together leaders of established, second-stage businesses to meet and learn from CEOs who have successfully grown their companies into a more advanced stage of business development, Quello explained.
“Economic Gardening, is a strategy we support that has proved successful in accelerating the growth of second-stage companies and fostering greater job creation,” Dr. O’Neal said.
CEO Nexus provides an opportunity for mentoring the CEOs of second-stage businesses by CEOs of successful third and fourth-stage companies who realize the need to invest time in a confidential setting to advise and share growth strategies.
“We will all focus on ways companies can accelerate their growth and development in these challenging economic times,” O’Neal explained.
The B.I.G. Summit is open to participants at a cost of $89 per person. To register for the event, please call 407-835-2486 or visit http://www.orlando.org/index.php?src=gendocs&ref=BIG&category=BIG.
For more information, contact:
Steve Quello, President/Principal, CEO Nexus 407-590-6101, squello@ceonexus.com
Dr. Tom O’Neal, Executive Director, UCF Business Incubation Program, 407 882-1120, oneal@mail.ucf.edu
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142, lvershelco@aol.com
About CEO Nexus:
CEO Nexus is a public-private initiative that provides second-stage business leaders—owners, CEOs and presidents—with practical tools and techniques designed specifically for growing second-stage companies. Sponsors include The Edward Lowe Foundation, the Florida High Tech Corridor Council, the University of Central Florida Office of Research & Commercialization, Rollins College Center for Advanced Entrepreneurship, Metro Orlando Economic Development Commission, Enterprise Florida and the Jacksonville Chamber of Commerce.
Featured speakers at the conference include Cameron Ford, founding director of the University of Central Florida’s Center for Entrepreneurship and Innovation, Dr. Tom O’Neal, executive director of the UCF Business Incubation Program, Tony Hsieh, CEO of Zappos.com, Michael Poole, CEO of PCE Companies and Steve Quello, president of CEO Nexus in Orlando.
CEO Nexus brings together leaders of established, second-stage businesses to meet and learn from CEOs who have successfully grown their companies into a more advanced stage of business development, Quello explained.
“Economic Gardening, is a strategy we support that has proved successful in accelerating the growth of second-stage companies and fostering greater job creation,” Dr. O’Neal said.
CEO Nexus provides an opportunity for mentoring the CEOs of second-stage businesses by CEOs of successful third and fourth-stage companies who realize the need to invest time in a confidential setting to advise and share growth strategies.
“We will all focus on ways companies can accelerate their growth and development in these challenging economic times,” O’Neal explained.
The B.I.G. Summit is open to participants at a cost of $89 per person. To register for the event, please call 407-835-2486 or visit http://www.orlando.org/index.php?src=gendocs&ref=BIG&category=BIG.
For more information, contact:
Steve Quello, President/Principal, CEO Nexus 407-590-6101, squello@ceonexus.com
Dr. Tom O’Neal, Executive Director, UCF Business Incubation Program, 407 882-1120, oneal@mail.ucf.edu
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142, lvershelco@aol.com
About CEO Nexus:
CEO Nexus is a public-private initiative that provides second-stage business leaders—owners, CEOs and presidents—with practical tools and techniques designed specifically for growing second-stage companies. Sponsors include The Edward Lowe Foundation, the Florida High Tech Corridor Council, the University of Central Florida Office of Research & Commercialization, Rollins College Center for Advanced Entrepreneurship, Metro Orlando Economic Development Commission, Enterprise Florida and the Jacksonville Chamber of Commerce.
Subscribe to:
Posts (Atom)
