The SunTrust Building, a 70,000 square foot office tower in Naples, Florida was recently sold according to Dougall McCorkle of Premier Commercial Inc. who represented the seller in the transaction. The seven story Class A office building is located in Pelican Bay along US 41, adjacent to the affluent Waterside Shops and Artis Naples (formerly…
Periodically we try to share with our readers profiles on SW Florida businesses, success stories, and interesting personalities. This month’s newsletter features one of Naples’ emerging forces in the field of downtown redevelopment, Adam Smith of Naples Redevelopment Inc. Naples’ downtown area, which has long been centered around Fifth Avenue South wasn’t always the…
One of the rewarding side benefits of being in the commercial real estate business is seeing your clients become success stories and their property become improved for the betterment of the community. Just such an example is the dramatic transformation of an out-of-favor building into the West Indies Home Collection on the North Trail. Calling…
2013 and 2014 have been “red-hot” years for the sale of “single tenant” properties. Single tenant asset (aka “NNN” or “triple net”) investments where the income property is leased back by a single tenant. Unfortunately, much too often some of the basic investment fundamentals are overlooked by yield hungry investors. Five of the most…
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Every year the leading national commercial real estate data research firm CoStar culls through its vast data and selects the top commercial real estate deal makers and awards them with their coveted “Power Broker” designation. They again selected Dougall McCorkle, along with a very select few other professionals, as being the Southwest Florida’s best for…
Land is no longer a “four letter word” in the world of real estate lingo. Ever since the last economic tailspin holding land (or maybe worse: lending on land) was a painful endeavor. In the Naples market, where I concentrate much of my time and efforts, there is a very significant lack of…
The biggest turn-around story in the Southwest Florida commercial real estate market has to be the industrial market. Driving through the industrial parks off of Pine Ridge Road or Airport Road in Naples 3 or 4 years ago would have painted a pretty bleak picture. Seemingly half the buildings were vacant and available for lease…
The office market, particularly the higher quality Class A office market, in Southwest Florida finally started to come alive in 2013 with a net absorption of 142,595 square feet in Southwest Florida. Collier County was the outright leader of the tri-county area, taking a commanding 85% of that total. The lesser quality Class B and…
When marketing a property, real estate agents will often use shorthand phrases to indicate the general characteristics of their properties. When discussing retail properties, for instance, the phrase “power center” might pop up; even though there can be a large degree of variation within the power center category, you will at least get a general…