Commercial Partners Realty agent Jim Engelmann was recently honored with the CREW Tampa Bay 2021 Sales Transaction Excellence Award. Engelmann earned the award for his work on the sale of the 164-acre Cypress Ranch development, in which he represented the sellers of the property, which sold for $13,750,000.00. Jim is a land specialist in Pasco…
Commercial Partners Realty agent Ceci Tricoli was recently honored with the CREW Tampa Bay 2021 Rising Star Excellence Award. Ceci was recognized for her work with a number of CREW committees and volunteer work with the organization at the annual CREW Economic Summit and as an ambassador for their monthly luncheons. “I am honored to…
Austin Karrick, CPR’s Industrial specialist, represented the seller, Industrial Leasing Corp., in the sale of a 15,300 sf Industrial building for the full asking price of $1,200,000. The property is located at 3131 Morris St N, which is situated in the high demand area of St. Petersburg, and is only minutes away from the I-275…
Commercial Partners Realty wishes everyone a happy Thanksgiving and Native American Heritage Month. Our offices will be closed November 25th-26th. Happy Holidays!
Good Morning! It’s Word of the Week Wednesday. Let’s look at hard corner. A hard corner refers to a property located at a major intersection with traffic lights, where the commercial property can be considered more popular for retail.
It’s Word of the Week Wednesday! Let’s take a look at clear height. Clear height is the height of a building starting from the ground floor to the bottom of the lowest hanging item on the ceiling. Hanging items include sprinklers, lights, structural beams, etc.
Good morning! It’s Word of the Week Wednesday. Let’s take a look at net operating income or NOI for short. NOI is the net income from a property that is gross revenues minus operating expenses, but before deducting capital expenditures, debt service, and taxes.
It’s Word of the Week Wednesday again! Let’s introduce the phrase market rent. Market rent is the rent a typical tenant would pay for a comparable unit or suite in the same or comparable market. On a good note to remember, A landlord may compare the contract rental rates near their property to understand if…
Good morning and welcome back to Word of the Week Wednesday! Let’s look at Offering Memorandum; a presentation that provides the most prospective buyers with detailed information about a property on the market. This presentation would include building description, demographics, summary of property’s history and more.
Good morning! It’s Word of the Week Wednesday. Lets take a look at Cold Shell. A cold shell refers to Any building that has no interior finishes, plumbing, lighting etc. The property is essentially bare, which provides greater opportunities for improvements and customization.
It’s Word of the Week Wednesday again! Let’s introduce the phrase common area maintenance, or CAM. CAM refers to additional expenses paid by tenants meant to cover costs of daily operations of the property. The percentage of this fee is calculated by dividing tenant’s square footage by total square footage of the building.
Welcome back to Word of the Week Wednesday! Last week we discussed Common area maintenance expenses, to follow up, let’s look at Occupancy cost. This charge is the total expense any property user pays for occupying a property or space. This includes tenants that are leasing and property owners. Please note, occupancy cost does not…
Good morning! It’s Word of the Week Wednesday! Today let’s look at Real Estate Investment Trust, or “ REIT ” for short. REIT is a type of investment portfolio company that allows individual investors to own fractional shares of income producing and commercial real estate. For investors, using REIT’s may help generate a steady income…
Broker Scott Clendening of Commercial Partners Realty represented the seller, BridgePoint Church in the sale of an 11,312 SF office building located at 6735 Crosswinds Dr., St. Petersburg FL for $2,250,000. Prior to the sale, Clendening represented Bridgepoint in Leasing the entire building to Diagnostic Medical Clinic Group, represented by Paul Rutledge and Jen Ward…
Broker Scott Clendening of Commercial Partners Realty represented the seller, BridgePoint Church in the sale of an 11,312 SF office building located at 6735 Crosswinds Dr., St. Petersburg FL for $2,250,000. The Tyrone area office building featured in a recent St. Pete Catalyst article was sold to private investors. Located adjacent to the Tyrone…
Jim Engelmann of Commercial Partners Realty represented the buyer, NAAM Property Management, in the purchase of the Bayshore Annex Building, located at 1001 S. MacDill in Tampa FL. The 2,735 SF building sold for $3,550,000. The multitenant office building in South Tampa is located just a few blocks away from Palma Ceia Country Club. The…
CPR Team members recently completed over $17.9 million dollars in commercial real estate transactions in the Tampa Bay Market. CPR Team member Hayden Peiker represented the buyer, West Shell Point Road 3340, LLC in the purchase of Shell Point Marina, located at 3340 Shell Point Rd., Ruskin FL. The 3.6 Acre marina with 43 wet…
Welcome to the first Commercial Real Estate Word of the Week. With these new weekly posts, we want to explain terms, concepts and definitions to provide transparency of the real estate transaction process to our clients, partners and colleagues. We hope you enjoy and find our future posts valuable.
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