The latest news from the CPR Team
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.
Here is our new Word of the Week! Take a look at Absorption; measured by a property’s square footage, absorption explains the rate of leased up or vacated properties.
It’s Word of the week Wednesday! Let’s look at letter of intent or LOI. This letter helps property owners/landlords and buyers/tenants negotiate important information for a property of interest before completing a final binding contract.
Commercial Partners Realty wishes everyone a Happy Labor Day! Our offices will be closed Sept. 6th. We hope you’re enjoying a long weekend of relaxation. #laborday #laborday2021 #commercialpartnersrealty #commercialrealestate #longweekend #HappyLaborDay
It’s Word of the Week Wednesday! Let’s look at Accessibility. When an agent refers to this, they are talking about the convenience of entering a property. This could mean easy access from the street by a motor vehicle, property accommodations and even ADA compliance (Americans with Disabilities Act.)
Good Morning! It’s Word of the Week Wednesday! Today we will look at Triple Net Lease (NNN). This is a legal agreement where the tenant is responsible for base rent and operating expenses. The “triple” refers to three standard expense items: Common Area Maintenance (CAM), real estate taxes, and property insurance. #TripleNetLease #commercialrealestate #wordoftheweek #CAM…
Hello, Its Word of the Week Wednesday! Today we have Land Assemblage, where 2 or more parcels of land that are adjacent can be combined into one parcel of land. This can give buyers greater development opportunities and sellers obtain higher values on combined land.
Commercial Partners Realty, Inc. announced today that Pasco land specialist, Jim Engelmann, represented PWS, LLC in the sale of approximately 10 acres of land on State Road 54 in Odessa, Florida. The transaction closed in mid-September for $4,000,000. Located along the highly desirable State Road 54 Corridor in Pasco County, the property is positioned midway…
Let’s talk about 1031 – not Halloween, but something that faced its own scare this fall – the tax deferment program used by many commercial real estate investors. The original version of the American Families Plan proposed a $500,000 cap on the popular capital gains deferment vehicle. However, the most recent version of the bill…
Good morning! Welcome back to Word of the Week Wednesday! Today let’s look at 1031 exchange. A 1031 exchange is a provision from the U.S. Internal Revenue Code. It allows a seller to defer paying capital gains taxes when a property is sold, and proceeds are reinvested in another property within a certain timeframe.
It’s Word of the Week Wednesday! We’ve got another cool phrase from the commercial real estate business. Let’s take a look at capitalization rate, also known as cap rate. The cap rate is the rate of return that investors receive on an income producing property. The cap rate is calculated as the ratio between the…
Commercial Partners Realty is proud to announce that our team members received a number of top Awards for 2020. The Florida Gulfcoast Commercial Association of Realtors (FGCAR) recently announced their annual Pinnacle Awards. Pinnacle Awards are presented in multiple categories for both regional and national firms. These awards recognize the area’s top commercial realtors, and…
Commercial Partners Realty, Inc. is pleased to announce that Kerra Almy has joined our team as an Administrative Assistant. She looks forward to providing support to our agents and clients, applying her marketing and administrative experience. Kerra joins us with a unique background in marketing, education and entertainment. She has developed programs for MOSI and…
Commercial Partners Realty (CPR) is pleased to announce that Kevin R. Yeager has joined our team as Vice President, Commercial Services. Kevin joins the CPR team after a decade at Colliers with a background in office, retail leasing, and tenant advisory services. CPR commercial services division focuses on partnering with national, regional, and local clients…
Austin Karrick, an accomplished leader in the Tampa/St. Petersburg CRE industry, has been honored by Connect Media with its Next Gen Award. As an office and industrial real estate specialist for Pinellas County at Commercial Partners Realty Inc., Karrick is a dedicated team member and a partner in CPR’s Industrial and Office group, The QA…
Commercial Partners Realty, Inc. is pleased to announce the sale of a .12 AC parcel of raw land located at 1013 N. Franklin St, Tampa, FL 33602. The sale price was $850,000 which translates to over $7 Million per acre, making this one of the highest value per acre land transactions completed this year in…
The QA Team of Dan Quarles, Austin Karrick and Erica Lovingood continue to have a strong year in 2019. The following are the most recent transactions from Commercial Partners Realty’s Pinellas County Office/Industrial team. Represented the landlord, Mainstream America, Inc., in the lease of 15,000 SF of flex space in the Petersburg Commerce Center, located…
The Land Outlook The last several months have created a tremendous amount of rethinking, retooling and reacting due to COVID-19. Many of the usually strong commercial real estate products have been hit hard by the pandemic and its effect on different industries. Hotels, bars, assisted living facilities, as well as an already compromised retail sector,…
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