Much like the eyes of justice valuations must be blind…  A good valuation can make or break a property owners day…  In real estate we often spin it to win it 😉 appraisers do not have that luxury.  Meet the group that cuts out all the fluff and sunshine and gives the straight dope!!! Great to have Tim Sunyog from Carroll and Carroll in the house today…the group learned a lot and the master mindedness over floweth 🙂

From Naples Daily News

Property values reach record highs in Collier County

http://www.naplesnews.com/story/news/local/2017/06/11/property-values-set-collier-county-record-2016/365563001/

Property values in Collier County climbed to a record high last year, eclipsing those before the recession, according to the preliminary assessment of Property Appraiser Abe Skinner.The total value of land in the county in 2016 was $108.6 billion, a 6.5 percent growth over the year before, topping the county’s previous high of $107 billion set in 2007, according to the early numbers from the appraiser’s office.”This is still preliminary, and you will see these figures change slightly,” Skinner said. “We’re still putting values in through the end of the month and will have to present the tax roll to the state for approval in July.”

A handful of experts took part in a panel discussion about the future of the retail sector during the Urban Land Institute’s statewide commercial real estate conference held May 25 and 26. Panelists, from left to right, include Kevin Jennings, Hutton Cos; Jamey Flegal, Hutton Cos; Debra Dremann, moderator, founder and CEO, LEAP Development Group; Tom Henken, Architecture Plus International; and Ryan Kratz, Colliers International Florida.

There hasn’t been a lot to celebrate this commercial real estate cycle when it comes to retail as an investment class.

RELATED HEADLINES:

Smarter, not harder

See the wizard

Worlds collide

Q&A: Trey Carswell, Avison Young

Industry stalwarts such as Macy’s, Sears, Sports Authority and J.C. Penney, to name but a few, have been shuttering stores nationwide and throughout the Gulf Coast of Florida.

At the same time, e-commerce platforms like Amazon have gained traction with consumers by offering unprecedented convenience and selection online.

But experts at a recent Florida Urban Land Institute conference, held in Tampa, contend the sector remains ripe with opportunity for creative landlords and investors willing to embrace experiential shopping and new formats.

“Retail is not dead, even though many department stores continue to struggle,” says Jamey Flegal, a development partner in the Hutton Cos., a Tennessee-based developer that has built several projects in Florida. “But the opportunities are still out there.”

To succeed, investors and developers will have to differentiate themselves by pushing experience-based shopping, value and a heightened level of services.

“The experience is going to be vital to the future of most retail,” says Tom Henken, a vice president and director of design at Architecture Plus International, a Tampa design firm that specializes in retail and helped revamp the Sundial project in St. Petersburg. “Experience will give retail developments longevity throughout the world.”

To that end, many developers and retailers are turning to new concepts, such as food halls that combine dining and the experience of tasting new foods; injecting education into centers in the form of cooking classes or brewing demonstrations; and experimenting with augmented or virtual reality technology to enhance consumer options.

Landlords — especially owners of Class B malls — are increasingly seeking out non-traditional tenants — including churches, data centers, medical providers, auto dealerships and fitness centers — to revitalize their projects and fill space abandoned by fashion-centric merchants.

“As the retail industry changes, diversification is a good thing,” says Ryan Kratz, president of commercial real estate services firm Colliers International Florida.

“If you have a church, a call center or a medical use in your property, that creates a diversified income stream and your property is a little more secure because of that.”

Henken maintains that many retail projects will need to evolve into “multiuse centers” that combine shopping with activities and operate both day and night to drive traffic. At Sundial, for instance, yoga classes are held in a common area when stores are closed.

Other projects may want to consider installing sports-related activities, small “pocket” parks, lifestyle experiences or “stores within stores” alongside retail offerings to boost consumer interest.

“There’s going to be a real blurring of the lines,” Henken says. “But that will drive loyalty with shoppers. That’s why I think we’re about to be inundated with food halls. They’re part fast-casual dining, part market, they offer a variety and they’re a really fun experience. They hit all the senses, and that’s part of what a great experience is.”

Choices galore

Nowhere will the changes be more evident than in grocery and restaurants, a sector already adapting to changing tastes with new offerings and physical layouts.

“I think you’re going to see grocery store interiors evolve to have more sit down offerings and prepared foods,” Kratz says.

Restaurants, too, will likely have to adopt multiple platforms to accommodate customers who want a full-service, sit down experience and those who desire more casual dining.

And while e-commerce has gained market share in recent years and showing few signs of waning — Colliers International projects it will capture 14% of all sales in the U.S. by 2022, up from 10% this year — landlords who view their properties as distribution points on an expanded supply chain will succeed, despite a tougher sales environment and a perceived over-supply in some areas, like restaurants.

Many discounters, such as Ross, Marshall’s and T.J.Maxx, are already adapting, by shrinking the sizes of stores — especially stock rooms — to allow inventory to circulate faster from warehouse to consumer, Flegal says.

Still, vacancies have not ballooned along the Gulf Coast, despite the onslaught of online shopping and increased offerings. In the Tampa area, for example, retail vacancy rates are around 6%, Kratz says, while in some wealthier areas, like Naples, vacancy rates have dropped to as low as 2%, even as rental rates have spiked.

“We’re seeing all-time highs for rents in areas like Naples, of $50 or even $60 per square foot,” Kratz says. “Premium retail spaces and areas are commanding premium rents. By almost any measure this is a very healthy market.”

But that doesn’t mean the cyclical forces that influence all commercial real estate aren’t pressuring retail centers, which many analysts believe hit peak value for this cycle in the second half of 2015.

“Buyers, consumers, still want to shop,” Kratz says. “But now is not the time to overpay for a retail property. Buyers are feeling some trepidatio

http://www.businessobserverfl.com/section/detail/all-about-the-experience

From Naples Daily News

Naples panel OKs Third Street Plaza 118-room hotel

http://www.naplesnews.com/story/news/government/2017/05/24/naples-panel-gives-initial-ok-118-room-hotel-third-street/339042001/

A plan to convert Naples’ long vacant Third Street Plaza into a 118-room hotel passed its first major hurdle Wednesday with unanimous approval from the city’s design review board.Board members praised the concept for a two-story hotel along Gordon Drive and Broad Avenue South, connected to another two floors of hotel rooms over retail space on Third Street South.The project would tear down the more than 25-year-old plaza on Third Street, often described as an eyesore with its vacant shops and cracking sidewalks.“I think it’s going to be a great addition,” board member Mitchell Norgart said. “The plaza on Third Street has been an eyesore for way too long. I find this to be the highest and best use for the property. But it’s also absolutely stunning.”

From Naples Daily News

State-of-the-art theater planned at Naples Square

http://www.naplesnews.com/story/entertainment/arts/2017/05/23/gulfshore-playhouse-plans-build-state-of-the-art-theater-and-education-complex/339408001/

Gulfshore Playhouse plans to build a state-of-the-art theater and education complex in Naples.The not-for-profit professional theater group announced Tuesday it has signed a purchase agreement for three acres of land at the corner of Goodlette-Frank Road and First Avenue South for the multimillion-dollar project.The land is within the borders of Naples Square, a mixed-use project that’s under development by The Ronto Group in partnership with Wheelock Street Capital. The land purchase is expected to close in mid-August. With the new theater Gulfshore Playhouse will be able to produce a broader season, with more musicals, new works and content created for Broadway.

The Rule of three suggest that when things come in threes they are inherently more more satisfying, or more effective than a number of other things… Point in case:  Mind, Body, Spirit, The Nina, The Pinta, and The Santa Maria, Three Piece Suits, The Three Primary Colors and Now Trio Of Naples (Hotel, condo, and retail) 😉 Great to have Tony Fortino and David Bartley at the Ferrari Capital Club today for stellar discussion and Mastermind Session…The most exciting, interesting, and dynamic project Naples has ever seen is coming soon…
Www.trioofnaples

Jim Henderson of William C Huff Companies stopped by the Ferrari Capital Club to discuss his experience in using solar power at his business over the last year…overwhelming evidence to jump on board now…not only will it pay for itself in approximately 7 years but you will increase your investment by at least one and 1/2 times!!  Oh, and did I mention you will be saving the planet !! 🙂 🙂  thumbs up!!

Looking for to hire two licensed realtors to assist me in growing my commercial real estate business…The goal is to sell 1 billion $$ in commercial real estate and development in the next 5 years…inbox me if you are ready for the most exciting, lucrative, and interesting position of your life…And, hurry up!! We’ve got work to do 

😉

MEDIA ALERT/ PHOTO OP

CONTACT: Clark J Pear, Ferrari Capital Club

898 5th Ave South #202, Naples, FL 34102

239-571-0627

Retired Sergeant Major Brian Jones of Altair Solutions 

to Visit the Ferrari Capital Club for Safety Intel

Guest Speaker Retired Sergeant Major Brian Jones 

September 6, 2016 from 10 AM-11AM

(August 31, 2016) Unfortunately, in today’s world we can hardly turn on the news without seeing another shooting, riot, or a barrage of horrific crimes.

“I want my friends, family, and colleagues to be as safe as they can be,” says Clark Pear, founder of the local business/social Ferrari Capital Club.   “This is why I asked Retired Sergeant Major Brian Jones and his wife, Captain Michelle Jones, to speak to the Ferrari Capital Club about how to stay safe in today’s unsafe world!”

Brian and Michelle Jones will be part of a two part series for the Ferrari Capital Club.

Pear adds that we can make all the money in the world, we can have all the connections in the world, and we can be the smartest people on the planet.  But, if we don’t have our safety and health,  we have nothing.

Please RSVP to ferraricapitalclub@gmail.com (seating is limited)

Special Guest Speaker: Retired Sergeant Major Brian Jones on September 6 at 10 AM

Attendees to include local business owners, employees, hospital and hotel employees, realtors, (by invitation only)

Event is being organized by the Ferrari Capital Club: https://www.facebook.com/fourcornersnaples/ and www.ferraricapitalclub.com

Ferrari Capital Club meets at 898 5th Avenue South, Suite 202 in Naples (Four Corners of Naples). The private club was created for political, professional, social, and business leaders in the pursuit of business and leisure activities.

MEDIA welcome to attend.

About the speaker noted below.

Visitors are down but spending is up!!  Not bad considering Marcos Marriott Resort is still being renovated and weather and the economy started the season/year off a bit rocky!

By Laura Layden of the Naples Daily News

Collier County’s visitor numbers fell for the sixth straight month in May.

The monthly declines started in December and haven’t let up.

Last month the county saw 135,300 visitors, down 2.7 percent from the same month last year, according to a report by Tampa-based Research Data Services Inc.

The monthly report, presented at a Tourist Development Council meeting Monday, counts “heads in beds,” or overnight visitors in hotels and at other short-stay rentals including condominiums.

See rest of article in Naples Daily News:  Spending Up

# Ferrari Capital Club # Clark Pear # 898 5th Ave South # Naples # 5th Ave South # Commercial Real Estate # Commercial Development # Ferrari Capital Club and Hotel # Real Estate # Entrepreneurs # Making Money # Start Ups # Four Corners of Naples # Sushi Thai # Olde Naples # Ferrari Capital Club and Hotel # Real Estate Investments # Gulfshore Life # East Naples # Golden Triangle # Gateway Triangle #  Four Corners # Naples Real Estate # Naples Square # Central Ave # Central Avenue # Third Street Plaza # Naples Real Estate Development # Finfrock Industries # Bill Finfrock # Naples Hotels # Hyatt House on 5th # Naples Hyatt # Naples Hyatt House on 5th # Naples High Rise # Naples Condos # Gordon River # Naples Hotel

Canadian builder Mattamy Homes has acquired a 37.5 acre site in East Naples for $8.7 million.

The site at 4580 Bayshore Drive will be turned into “product that Mattamy Homes has targeted for the site,” said Ron Zeigler, of SVN Florida Commercial Real Estate Advisors, who represented Mattamy.

The sale included a $2.27 million impact-fee credit and possible density bonus.

See link to complete article in Naples Daily News:  MultiFamily Bayshore

# Ferrari Capital Club # Clark Pear # 898 5th Ave South # Naples # 5th Ave South # Commercial Real Estate # Commercial Development # Ferrari Capital Club and Hotel # Real Estate # Entrepreneurs # Making Money # Start Ups # Four Corners of Naples # Sushi Thai # Olde Naples # Ferrari Capital Club and Hotel # Real Estate Investments # Gulfshore Life # East Naples # Golden Triangle # Gateway Triangle #  Four Corners # Naples Real Estate # Naples Square # Central Ave # Central Avenue # Third Street Plaza # Naples Real Estate Development # Finfrock Industries # Bill Finfrock # Naples Hotels # Hyatt House on 5th # Naples Hyatt # Naples Hyatt House on 5th # Naples High Rise # Naples Condos # Gordon River # Naples Hotel # Multifamily # Mattamy Homes # Mattamy # Bayshore # East Naples # New development