West Palm Beach’s Financial District’s Biggest Need: Good Office Space

Phillips Point 1

We have great office space opportunities at Phillips Point in West Palm Beach! Proud to be mentioned as Class A offce space by  Kelly Smallridge, president and CEO of the Business Development Board of Palm Beach County.” – Brain Gale.

“What they consider Class A is Phillips Point…,” Smallridge said. “They want ocean and Intracoastal (Waterway) views. They want buildings with amenities such as restaurants.”

West Palm Beach’s Financial District’s Biggest Need: Good Office SpaceWest Palm Beach Mayor Jeri Muoio (pictured above) stepped from the podium last Tuesday morning at Palm Beach County Convention Center and dropped a drape to expose a fancy street sign bearing the proposed logo of the “Flagler Financial District.” The city plans to mark off a piece of downtown already hosting brokerages, banks and investment houses, in hopes of luring more to set up satellites or even move their headquarters wholesale. “We already have a portion of our city where banking and finance is heavily concentrated. Now we need to let the world know about it,” the mayor told about 900 attendees at her third annual “State of the City” breakfast gathering. The district would run from Sixth Street in the north to Okeechobee Boulevard and from Rosemary Avenue east to Flagler Drive and the waterfront. “We’re really trying to sell our city,” Muoio told reporters after her talk. “We really want to see new businesses in our downtown.” But she said in her speech, “We all know putting up signage alone will not make it happen.” That usually means tax breaks and other incentives. Not necessarily, said Kelly Smallridge, president and CEO of the Business Development Board of Palm Beach County, which has helped lead the “Flagler Financial District” initiative. “The mayor’s move this morning really solidifies our effort to recruit (white collar) firms to this area,” Smallridge said Tuesday. “They’re already coming. Probably two dozen that came throughout the county in two years.” But she said that while financial breaks often are the carrot needed to lure down the really large firms, for not-so-huge operations, “they’re not asking for it, and we’re not offering it.” She said most of those coming down – and she sells all of Palm Beach County, not just West Palm Beach – are looking for good weather, of course. Cheaper commercial and residential real estate. A lower cost of living. And the big one: no state income tax. “If you make a million dollars in Manhattan and a million dollars in West Palm Beach, there’s $127,000 you’re paying in a (New York) state income tax,” Smallridge said. The biggest hurdle, she said, is that while residential real estate is exploding downtown, there’s a dearth of quality office space. And what’s there, she said, is running out. “What they consider Class A is Phillips Point; Esperante,” Smallridge said. “They want ocean and Intracoastal (Waterway) views. They want buildings with amenities such as restaurants.” Smallridge said she’s encouraging the city to expedite permitting. Chris Roog, the city’s economic development director, said the city’s been pounding the drums for a while about the lack of good office space. “That’s a great problem to have,” he said. “Now we need to fill the demand.” He said the city already is speeding up permitting. He also said that, as in your freshman Economics class, supply usually reacts organically to demand. But he said the city’s also been reminding the real estate community of the need. Source: Palm Beach Post

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T&M Picks Up 2 New Management Assignments in Tampa Bay

Our Tampa Bay team has picked up two new management assignments. Our new Property Manager, Kaitlin White, will be managing Citrus Park Crossings and Bay Vista Office Park.

Citrus Park Crossings, a 76,000 square foot office building in Northwest Tampa off of Gunn Highway.

Citrus Park Crop






Bay Vista Office Park, a 135,000 square foot office and flex park in Clearwater.

3-story 59,514 SF office building

Bay Vista Office






Two office/flex properties – Bay Vista Gardens I & II

Bay Vista Flex








T&M’s Kent Walling Chairs the 2013 BOMA Southern Region Conference Committee

2013 BOMA SOUTHERN REGION Conference: The Art of Commercial Real Estate, Programming Inspired by the Cultural Hub of St. Petersburg, Florida

St. Petersburg is the perfect location for the Building Owners and Managers Association (BOMA) Southern Region to reflect on the theme of the 2013 annual conference, the Art of Commercial Real Estate. With the release of the educational lineup scheduled for the conference, held April 10-13 at The Renaissance Vinoy, conference organizers again present the commercial real estate industry’s premiere professional event for delegates in the South.

walling 1b s“We have fashioned the conference to be a balance of educational, networking, and recognition opportunities to drive excitement around the careers, buildings, and efforts of our delegates,” said Kent Walling of Taylor and Mathis, conference co-chair and BOMA Southern Region President.

With a focus on The Art of Commercial Real Estate, led by highly regarded industry practitioners and subject-matter experts, the sessions will help delegates acquire key insights and practical know-how to bring tangible success to their buildings while also enhancing their own personal strengths. This collaborative meeting of the industry’s best minds includes over 25 sessions.

Topics include a welcome from Mayor Bill Foster; a distinguished panel of commercial real estate heavy hitters such as Chuck Davis of MetLife, Mary Jo Eaton of CBRE, and Ed Fritsch of Highwoods, which will be moderated by Carlton Fields Shareholder Donald Kirk; luncheon keynotes from Joe Markling of CBRE and BOMA International, and Henry Chamberlain of BOMA International; and a live preparedness event facilitated by Holley Wade of the Hillsborough County Emergency Operations Center. One afternoon session alone will host 13 customized power sessions for 2013, including topics on insurance, legal pitfalls, sustainability, advocacy, public relations, preparedness, technology, codes, customer service, BOMI education, executive director organization, driving membership, and doing business with receiverships.

Conference delegates will network at the Dali Museum and Duncan McClellan’s glass blowing hot shop, both in downtown St. Petersburg, as well as host a golf tournament at Isla Del Sol Yacht and Country Club. The capstone of the conference will be The Outstanding Building of the Year (TOBY) Awards, a gala held at the Vinoy honoring the best performing buildings and personnel in the industry.  “Educational offerings improve every year, and this year’s lineup hits all topics delegates need to stay relevant in the changing industry,” said ­­­­­­­­­­­­­Carol Dunn of Highwoods and conference co-chair.

Southern Region

BOMA Southern Region has provided commercial real estate with a forum to discuss, educate and advocate issues in the southern United States for almost 90 years. With 17 local associations and one state organization represented within the 9 states and 3,000 members, BOMA Southern Region has become a rich tapestry of the history of commercial real estate in the South. BOMA Southern Region welcomes our newest member organization BOMA Northern Alabama, located in Huntsville, Alabama. As one of the most active regions in BOMA International, BOMA Southern Region has utilized its position to provide leadership opportunities to our local members and training to our TOBY winners to improve and capitalize on the abundance of intellectual property that resides in our Southern Region members. Many members have risen to leadership positions in BOMA International, as BOMA International Officers, Chairs of Committees, Task Force Chairs, SIG Chairs and Committee members to support our industry. On the Web at www.bomasrc.org.

MetWest International a Great Fit for Cooper’s Hawk Winery & Restaurant

We’re glad MetWest International was such a great fit for Cooper’s Hawk! As reported in the Tampa Bay Business Journal:  Cooper’s Hawk Winery & Restaurant Founder Tim McEnery said he toured several Florida metropolitan areas, including Orlando, Naples and Sarasota, before he selected the MetWest International development. The site was at the top of the list for its visibility, high traffic and proximity to office buildings, retail, hotels and restaurants.

Area activity prompts restaurant, retail openings – Tampa Bay Business JournalSubscriber-Only Article Preview | For full site access: Subscribe Now TAMPA – Cooper’s Hawk Winery & Restaurant has made its Tampa debut. The 11,300-square-foot Boy Scout Boulevard location is the first in Florida for the restaurant chain. Cooper’s Hawk opened its first location in Orland Park, Ill., in 2005, following about four years of development. A second location followed in 2007, and the chain has since grown to 12 locations, including Tampa, which opened March 11. Founder Tim McEnery said he toured Florida several metropolitan areas, including Orlando, Naples and Sarasota, before he selected the MetWest International development. The site was at the top of the list for its visibility, … Margaret Cashill’s beats include technology, hospitality, retail and restaurants.

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9250 Doral Recapitalized, Undergoing Full Renovation

It presents an unprecedented opportunity for all size tenants to occupy space in one of the most exciting and rapidly growing areas of the Miami-Dade office market, said Brian Gale of Taylor & Mathis, the exclusive leasing agent.

A multimillion dollar renovation is in the works at 9250 Doral as owner Delma Properties prepares to bring the former single tenant office building to the multi-tenant leasing market. With the largest single block of available office space in the Doral area, the 187,000 square-foot office building is being repositioned as a multi-tenant office building.

Doral office undertakes $7M renovationA former 187,000-square-foot, single-tenant office building in Doral is being converted for multiple tenants

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Brian Gale Talks With Business Radio Talk Show Host Jim Fried

Brian Gale – Principal Taylor & Mathis discusses the South Florida Office Market with radio talk show host Jim Fried. –Brian is T&M’s senior leasing representative and broker in Florida. Over the last three years, Brian has overseen the signing of deals totaling over 925,000 square feet with a value of over $160 million. He has done three of the eight largest office leases ever in Miami’s Brickell/Downtown submarket totaling almost 300,000 square feet. In 2002 and 2007, Brian was named “Broker of the Year” by BOMA Greater Miami. From 2004-2009, Brian was listed as the Number 1 “Power Broker” for South Florida by CoStar based upon the number of signed leases and total square footage leased.