New restaurants, shops, offices, and a hotel could be coming to land just east of the Sanford Orlando Airport, next to where a Publix shopping center is going up.

Local land developer Sadique Jaffer is looking to bring a commercial center called Queens Crossing to nearly 27 acres along E. Lake Mary Boulevard just south of S.R. 46, according to plans filed recently to the St. John’s River Water Management District.

The project site is directly next to where Ontario-based North American Development Group is building Kings Crossing, a Publix-anchored shopping center with a neighboring 244-unit apartment community.  The company took out financing on May 1 for $19.9 million from Manufacturers and Traders Trust Company and started construction the next day, according to a notice of commencement filed to the county.

When NADG purchased the property in late 2022 for $5.5 million, Paul P. Partyka, a managing partner with NAI Realvest who brokered the deal, predicted that the Kings Crossing project would be a “development catalyst for an area that serves as a gateway to Seminole County.”

Enter Queens Crossing.

Plans drafted by Z Development Services call for a four-story, 113-room hotel along with nine commercial buildings totaling 81,490 square feet.

The project designates 47,040 square feet to retail space, 19,400 square feet to office space, and 9,650 square feet to restaurant space. Plans also include a car wash totaling 5,400 square feet.

The hotel would go directly behind the Publix shopping center that’s being built for Kings Crossing. Application materials filed to the water management district don’t indicate what brand the hotel will carry.

An entity affiliated with Jaffer’s company purchased the Queens Crossing project site in 2010 for $2.6 million, according to deed records.

Source:  GrowthSpotter

The 2023 Florida Realtors Convention & Trade Expo is scheduled for August 16-17 at the Rosen Shingle Creek in Orlando.

There’s something for everyone at this annual event. Anyone who’s connected to the business of real estate has something to gain and learn by attending this event. Real estate isn’t just about selling properties; it’s about connecting so that business is better for all. Many of the attendees are sales associates and brokers. In the mix, you’ll also find:

• Property managers
• Commercial and residential investors
• Auction specialists
• Banking executives
• Mortgage lenders
• Property appraisers
• Rental and relocation experts
• International liaisons who work with global customers daily

After the event, Florida Realtors gets down to business with governance meetings August 18-20. 

Click HERE for more details.

This two-day classroom course with Blaine Strickland, CCIM, HBS Resource Holding Company CEO provides agents, brokers, students, and allied professionals with an understanding of the skills, resources, and business practices that pave the way for success in commercial real estate. Through real-world case studies you will learn how to analyze leases and investment value, and develop a plan to kick-start your career.

This course will be held:

September 14 & 15, 2023
8 AM – 5PM
Bethune-Cookman University

215 North Lincoln Street
Daytona Beach, FL 32114

Click HERE To Register

After taking this course, you will be able to:

• Access and use demographic information as a decision-making tool
• Differentiate between the needs of the owners and tenants
• Develop a personal marketing plan
• Develop a property marketing plan
• Utilize basic financial analysis tools
• Solve investment problems using a financial calculator
• Perform basic mortgage calculations using compounding and discounting techniques
• Project income and expenses for a real estate property
• Calculate the yield on a potential investment
• You will also receive the CCIM Financial Calculator, designed to effectively and efficiently provide investment scenarios for you and your clients.

Learn in a traditional classroom environment. Interact and network with other professionals in a collaborative, small-group setting.

Tech Requirements:

This course may require the use of a laptop or desktop computer with full Excel capabilities. Mobile devices, like iPads, tablets, and cellphones, will not run CCIM Institute's macro-enabled spreadsheets.

PC: Microsoft Office 2000 or higher is necessary to run the CCIM Institute macro-enabled spreadsheets.

Mac: Mac versions of Microsoft Office 2004, 2011, 2016, or 365 are required to run the CCIM Institute macro-enabled spreadsheets.

Browser: CCIM Institute courses are optimized for use with the Google Chrome web browser.

New name, new look, more “CRE” as Florida commercial real estate brokerage and property management firm LandQwest Commercial rebrands to LQ Commercial.
 
Synonymous with Florida retail, office, industrial, land brokerage and property management for 18 years, this new brand identity is reflective of the firm’s evolution, growth, and positioning for continued success.
 
“We understand the importance of positioning our client’s asset for success,” said Property Mangement President Mary Gentile, CRX, CSM. “Our goal will continue to provide clients with the best possible experience by enhancing the way we do business. The evolution of commercial property management is an ongoing process of continuous development, investment in technology and training, and a commitment to customer-centric service. We are proud of our track record in these areas, and look forward to continuing to build lasting relationships with our clients, many of whom have been with us for years.”
 
“LQ” has brought to the Orlando, Tampa Bay, and Southwest Florida markets over 100 brands including ALDI, Tim Horton’s, Millenia Physicians Group, and Celebree Schools. Its entertainment expertise is exemplified by leasing Orlando’s “Margaritaville”. Tampa facilitated BJ’s Wholesale multi-market growth as well as office “power broker” sales. Its industrial division managed and leased both new developments, Centerlinks and Southlinks, in Fort Myers.
 
These diverse case studies resulted in the need for a more data-driven, marketing-centric approach. As such, a new LQ was born to be a “marketing company providing commercial brokerage and property management services.”
 
“LQ Commercial’s rebranding marks an exciting chapter in our company's history," said Founding Principal John Mounce. "This evolution is predicated on the needs of the commercial real estate community, and showcases our dedication to innovation while staying true to our most core value … doing what’s best for our clients."
 
In addition to the rebrand’s visual elements, LQ unveils a new website - LQCRE.com

An 11-property portfolio of properties along one of Winter Park's main thoroughfares has sold for $7 million and soon could be the scene of at least some redevelopment in the popular suburb.

Winter Park-based Fairbanks Winter Park LLC, an entity registered to Cory Kroeger of Kroeger & Co. Commercial & Industrial Real Estate, was the buyer in the transaction, which closed July 20.

The seller, D&G Gallagher LLP, was represented by Lee Zerivitz, SIOR, CCIM, managing partner of Winter Park-based City Commercial and 2017 CFCAR President.

The deal involved five properties fronting the south side of West Fairbanks Avenue — at 1936-1996 W. Fairbanks Ave. — and two immediately behind those, at 1965 and 1995 Kentucky Ave. Four more properties are at 1934-1970 Kentucky Ave. on the south side of the road.

The veteran Winter Park broker noted that $38 million worth of commercial transactions have taken place on Fairbanks Avenue between Interstate 4 and U.S. 17-92/Orlando Avenue.

He said that in addition to the recently sold assemblage's location, it was attractive to prospective buyers because of investment made by the city of Winter Park on the corridor.

Source:  OBJ

With property owners and housing providers still feeling the effects of inflation, any additional layers of already heavy regulation by state and local governments can have severe unintended consequences, like driving housing providers out of the communities they serve. That’s why NAR is focused on fighting these misguided policies and sharing the facts on this important issue.

Currently, the Federal Housing Finance Agency (FHFA) is seeking the public’s input on tenant protections for multi-family properties backed by the federal government through the Government Sponsored Enterprises (GSEs), or Fannie Mae and Freddie Mac. This request for information (RFI) comes on the heels of the White House’s Blueprint for a Renter’s Bill of Rights, which directed the FHFA to investigate policy measures that provide relief to renters but could also infringe on private property rights, state and local law, and standard lease agreements.

The FHFA oversees the GSEs as they carry out their chartered responsibilities, including facilitating the financing of affordable housing opportunities. The GSEs are key stakeholders in providing financing to housing providers who develop rental properties in communities across the country. Their participation in the secondary market ensures there are financing options to develop multifamily properties across the country.

In response to the RFI, NAR is highlighting the vital role REALTORS® play in creating opportunities for upward mobility for renters by helping them obtain quality, affordable, and safe housing opportunities. We need you!

At our Call for Action page, you can share comments in the personal story field about how you work with renters to provide and maintain quality affordable housing. This can include topics like helping obtain rental assistance, proactively communicating lease renewals, using alternative credit scoring models, or other best practices. You can also share details about how housing providers play a vital role in your community and the potential impacts of additional regulation. Please submit your comments by July 31.

In addition to sharing the REALTOR® perspective with agencies like FHFA, NAR is working with our industry partners to fight misguided rent control policies. In June, NAR joined the National Apartment Association, the National Association of Homebuilders, and the Mortgage Bankers Association in filing an amicus brief in two cases asking the Supreme Court to hear a challenge to New York’s rent stabilization law (RSL).

The brief provided numerous examples of how New York’s rent control law – and others around the country – make it difficult for property owners to possess and enjoy their own properties, even for personal uses, and how these burdens fall hardest on individual “mom and pop” property owners with the fewest resources. It detailed how these laws exacerbate housing supply and affordability problems and decrease consumer mobility and entry into the housing market.

NAR has also joined with four other national trade associations to establish the Housing Solutions Coalition. This initiative will provide tools and resources to develop campaigns and offer proven, effective alternative solutions on rent control policies and proposals where they arise.

Many local and state associations from coast to coast have used REALTOR® Party resources to help fight rent control measures. You can read more about their efforts in the REALTOR® Party success stories.

History has shown rent control is an antiquated policy that exacerbates shortages, disproportionally benefits higher-income households, and ultimately drives up rents. REALTORS® will continue to push for solutions that lower housing costs and allow more people to find a place to call home.

Source: NAR

Amazon is underway on the construction of a $120 million satellite processing facility at Space Florida’s Launch and Landing Facility within Kennedy Space Center in Cape Canaveral.

Upon completion, the development will total 100,000 square feet with a 100-foot high bay clean room. The facility will be used to receive and prepare Blue Origin and United Launch Alliance (ULA) satellites as part of Amazon’s Project Kuiper, a 3,200-satellite project that will provide broadband connection to underserved communities globally.

Amazon will use the facility to receive shipments, conduct final preparation ahead of launches, connect satellites to custom dispensers from space tech firm Beyond Gravity and integrate the loaded dispensers with launch vehicles.

Amazon’s investment is expected to create 50 news jobs on Florida’s Space Coast. A timeline for delivery was not disclosed.

Source:  RE Business

Jupiter, Florida-based EML Realty Partners announced the acquisition of two properties in partnership with Greenspring Realty Partners, a real estate investment, development, brokerage, and management company based in Baltimore, MD.

The first property, located at 209-211 S. Alexander St. in Plant City, FL, was purchased for $4.6 million. The property consists of two buildings totaling 60,491 square feet, and is fully leased to national credit-tenant, 84 Lumber.

The second acquired property, an industrial facility located at 5582 Commercial Blvd. in Winter Haven, FL, was purchased for $2,850,000. It consists of one building on two parcels totaling  31,389 square feet, and is fully leased to a local freight logistics firm, serving central Florida building suppliers and Amazon.

Eric Levitt, founder of EML Realty Partners, Dan Flamholtz and David Berg, Principals of Greenspring Realty Partners, worked together as partners in Maryland before Eric moved full-time to Florida in 2016.

“Dan Flamholtz and David Berg of Greenspring Realty Partners were my trusted partners for many years in Maryland before I moved my company full time to Florida and it is exciting to get to work with them again. These two purchases fit our model of below replacement cost purchase price, below market rents, functional warehouses, and long-term value-add through organic rent growth in areas of high distribution demand.” said Levitt, founder of EML Realty Partners. “These acquisitions are the first deals we’ve done together in Florida and I am looking forward to continuing this partnership due to the vast experience we share and our combined capital for value-add industrial deals all over the state of Florida.”

EML Realty Partners specializes in the acquisition of opportunistic commercial real estate investments, specializing in value-add industrial all over the state of Florida. Prior to moving to Florida, EML Realty Partners was a very active and well-respected real estate firm in the Mid-Atlantic region.

On May 30th, the Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) from the public about implementing tenant protections on multifamily rental properties backed by the Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac.

These policies may have the unintended consequences of infringing on property rights, circumventing state and local laws, upending standard lease agreements (including those already in place), and undermining pathways to homeownership.

NAR is asking you to provide a pre-written message to the FHFA about how REALTORS® play a vital role in the community and how these new rules and regulations will impact your service as a housing provider. REALTORS® are already serving tenants with many of these protections. You can include a personal message covering topics like rental assistance, proactively communicating lease renewals, using alternative credit scoring models, or other best practices.

 CLICK HERE TO TAKE ACTION 

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