First Capital Property Group

First Capital News
 


August 2010 - Office Specialist Nicholas Fouraker has negotiated three lease deals for a total of 6,066 SF of office space in Downtown Orlando and Longwood.
August 2010 - Chuck Mitchell, CPM, CCIM has been appointed Receiver for Golfside Marketplace, a 54,000 SF Retail Center in Mt. Dora, FL.
July 2010 - Retail Specialist Craig Katterfield completed two retail lease deals. Salsa Heat Dance Studio signed a 3-year lease for 1,800 SF at Alamo Plaza, 10685 E. Colonial Dr., Orlando. Katterfield represented the Landlord - Highland Properties, LLC. Simone’s Salon, Inc. signed a 5-year lease for 2,100 SF at Rivergate Village, 114 S. Nova Rd. in Ormond Beach. Katterfield represented the Landlord - Rivergate Oakridge, LLC.
June 2010 - Retail Specialist Craig Katterfield completed three retail lease deals at the Sprint Plaza in Daytona Beach, Florida. Red Wing Shoe Company, Inc., Dan’s Fan City, Inc., and Daytona Spa each signed a 5-year lease for 1,400 SF. Sprint Plaza is located at 2525 W. International Speedway Blvd., one mile away from the Daytona International Speedway. Katterfield represented the Landlord - Sprint Plaza, LLC - in all of the transactions.
June 2010 - FCPG has wrapped up its 2010 Tax Certificate Program and was successful in the purchase of delinquent tax certificates totaling $4.38 million for various investors and investor groups. The certificate marketplace was much more competitive this year; bringing rates down, likely as a result of the perceived instability of other areas of the economy.
June 2010 - Chuck Mitchell, CPM, CCIM and President of First Capital Property Group, Inc. has been appointed Receiver for Bella Foresta Community Association, a 54-homesite upscale gated subdivision in Sanford, FL.
June 2010 - Chuck Mitchell, CPM, CCIM and President of First Capital Property Group, Inc. was appointed Receiver for several multi-family residential complexes in Lake County. The lender is a regional bank.
May 2010 - Trent Scott has negotiated the sale of a 4,704 square foot retail property located in Winter Haven, Florida. Trent represented the Seller, SunTrust Bank (Trustee).
May 2010 - Office specialist Nicholas Fouraker has negotiated a five-year lease for 5,214 square feet at Park Place at Heathrow, located on International Parkway in Lake Mary, Florida. Nicholas represented the tenant, Friendly Confines, a sports bar & restaurant with three locations operating in Central Florida since 2000. Jill Rose represented the Landlord, Pelloni Capital Corporation.
May 2010 - Cathy Mallory, RPA has secured two leases at the historic Welaka Building in Sanford, Florida. The UCF Business Incubator Program has expanded, taking an additional 2,000 square feet of office space. Their initial space leased (3,791 square feet) leased up with start-up companies faster than anticipated. MaxWest Environmental Systems, Inc. has signed a one-year lease for 2,830 square feet on the second floor. MaxWest Environmental Systems designs, builds, owns, and operates disposal systems that convert waste into green energy. Mallory represented the Landlord - Hoogland Orlando, Inc. - in both lease deals.
April 2010 - FCPG is finalizing its 2010 Tax Certificate Program for the third consecutive year. The bidding begins in May. The 2010 goal of $3 million in purchased tax certificates matches last year's results. Current investors have realized annual returns of approximately 17%.
March 2010 - First Capital Property Group, Inc is assisting Zimmerman, Kiser & Sutcliffe, P.A. and their bank client with a 40,000 SF industrial building that is in the foreclosure process.
February 2010 - Office specialist Nicholas Fouraker completed three new lease deals comprised of 6,000 square feet of office space. Nicholas represented the Landlord for all leases.
 - Payer Law Group, 17 North Summerlin Ave. in Thornton Park
 - Cruise Adventure Travel, 124 E. Colonial Dr. in Downtown Orlando
 - Central Florida Insurance School, 200 Crown Oak Centre Dr. in Longwood

February 2010 - Chuck Mitchell CPM, CCIM has been appointed Receiver for a 6,800 office unit in The Plaza South Tower. CNLBank is the lender and Winderweedle, Haines, Ward and Woodman, P.A. is the attorney for the lender.
January 2010 - Retail specialist Craig Katterfield completed a 5-year lease deal for 4,900 square feet of retail space at Rivergate Village Shopping Center on South Nova Road in Ormond Beach.  The tenant is Peggy's Discount Health, a local chain selling health foods and organic products. Craig also closed a 40-month lease with Liberty Tax Service for 1,600 square feet at Apopka Square Shopping Center on 875 N. Semoran Blvd. in Apopka. Craig represented the landlord, Festival Properties, Inc.

Central Florida News

Read some of the latest news from the Commercial Real Estate Industry

 

Eight Takeaways on the Current State of Distress Opportunities

September 2010 -- CoStar Group recently analyzed the state of distressed real estate across the U.S... who is holding distressed real estate, how much presently exists by product type, what distressed deals have closed so far, and where the best opportunities are expected for buying distress in the near future...

As a Hedge Against Inflation, Commercial Real Estate Investment Remains a Smart Play

August 2010 -- Investors widely consider commercial real estate an asset class that can help offset the impact of inflation over the long term. In fact, that benefit is regularly cited as one of the advantages of adding real estate to a mixed-asset portfolio of investments...

Economist's Predictions about Florida Real Estate Market

July 2010 -- There's no question this is a summer of economic discontent. But where are we exactly in terms of the economy? A trio of economists... formed somewhat of a consensus that growth has slowed much more than expected, but the feared double dip - or worse - is still unlikely...

2 Out of Every 3 Deals Will Be Distressed

June 2010 -- Florida is one of the leading markets for distressed real estate. As such, the majority of investors are looking for "distressed" deals because of the perception of extremely discounted prices...

Tax bill auction nets big gains for counties

June 2010 -- This year, Orange County saw great success with its sale, offering 25,691 certificates for a total face value of $92.2 million at the auction and selling 25,299 bills for $92.1 million. "We got 99.9 percent of the money," said county tax collector Earl Wood. "That sure does indicate market improvement."...

Office vacancy rate hits 21%, driving down lease prices

May 2010 -- As more vacated office space comes on the market, asking lease rates have fallen from a high of nearly $21 per square foot in fourth-quarter 2008 to just under $19 per square foot in first-quarter 2010...

Orlando's three-year job losses at 100,800

April 2010 -- It will be at least 2012 before the area should see any significant job creation, and likely will take three to five years to reach the 5 percent unemployment levels experienced in 2009...

Survey of Emerging Market Conditions - Q1 2010 Findings

April 2010 -- One quarter into a new year and we may be starting to see a few rays of sunshine with the real estate market. Results of the first quarter survey indicate that the real estate market in Florida has hit bottom and is in the process of stabilizing across most property types. Before we get too optimistic, however, we should note that in weather terms we would probably call it mostly cloudy with a few breaks in the clouds...

Small banks say they can't win in small-business lending

April 2010 -- Across the USA, banks say there's a big reason they aren't lending more: Regulators won't let them. Even as the White House exhorts banks to open the lending spigots,... banks say government field examiners are toughening their reviews in ways that discourage sound loans...

Commercial Distress

April 2010 -- For commercial property owners, understanding receivership and some simple tips for salvaging value can deliver relief and diminish the chances of foreclosure. Given the current economic climate, it's increasingly difficult to ignore the situation of many investors, owners and financial institutions dealing with distressed or underperforming properties. And commercial real estate experts are quick to note that the climate isn't expected to change overnight...

Central Florida Economic Index signals caution still ahead

March 2010 -- All five of the measures used to compile the Central Florida Economic Index are projected to fall in March, as the region struggles to latch on to the fledgling national recovery. The overall index -- a broad measure of economic activity across six counties - is expected to decline by about 4.13 percent...

Absorption, rates fall again in Orlando office market

February 2010 -- When compared to the previous quarter, the overall office lease rate for Metro Orlando decreased by $0.12 to $20.62 psf in 4Q 2009. Lease rates have not been this low since hitting $20.52 in the second quarter of 2006. This is the sixth consecutive quarter of declining lease rates since it reaching its peak at $22.33 in the second quarter of 2008...

Distressed CRE Assets Jump 15% at Nation's Banks

February 2010 -- The amount of distressed commercial real estate assets on the books of the nation's banks and thrifts approached $60 billion as of year-end 2009. That is up from $52 billion just three months earlier, a 15% increase...

Gloomy outlook seen for stalled Florida real estate market

January 2010 -- Uncertainty continues to plague Florida's bleak real estate outlook in the latest University of Florida quarterly survey, with fears that stagnant financial markets, rising unemployment and another round of foreclosures could make things worse in 2010...

Getting Ready for Shoe #2

January 2010 -- Signs are growing that commercial real estate's precarious hold on stability may be slipping. Since the start of the year, federal regulatory authorities have shut down nine banks - a whopping five alone last Friday in New Mexico, Oregon, Washington, Florida and Missouri...

Powered by Nimble