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Are Chain Restaurants Getting Squeezed Out?

ATLANTA—ICSC is just around the corner. That means plenty of talk about the past, present—and especially the future of retail.

GlobeSt.com caught up with Emil Guillia, senior director at Franklin Street, to get a sneak peak and some insights into the discussions in part two of this exclusive interview. You can still read part one: Will The Vertical Rental Market Crash Next Year?.

GlobeSt.com: You are moderating a panel on the evolution of retail during the conference, what are some of the most visible changes in the last decade?

Guillia: E-commerce and technology are allowing owners and operators, as well as retailers, to be more savvy about real estate decisions in a way we haven’t seen before. Regional influences from coast-to-coast will shape a retailer’s offerings in a market to set itself apart. This will drive people to see what is offered in Chicago that is different from what is in San Francisco as consumers’ favorite stores.

Reliance on transportation design and diminished parking requirements continue to evolve as mobility and product delivery options continue to change. In Atlanta, we are seeing more people relying on bikes, MARTA, the Beltline, Uber and other forms of transportation. Retailers inventory replenishment programs no longer rely on only the 18-wheeler.

View the original story here: http://www.globest.com/sites/jenniferleclaire/2016/10/28/are-chain-restaurants-getting-squeezed-out/?slreturn=20160928091811

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Franklin Street names senior VP

Miami Today | People

Franklin Street names Greg Matus senior VP

Franklin street has promoted Greg Matus to senior vice president of investment sales. Mr. Matus had been vice president and a regional manager at Marcus & Millichap. He holds a bachelor’s degree from the University of Florida. 

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Atlanta’s Retail Opportunities Center on Walkable Mixed-Use Developments

ATLANTA — Since 2000, more than 1 million people have relocated to Atlanta. Due to the continuous job and population growth in the city, the in-town markets have seen the most expansive growth. Atlanta is handling this by densifying and going vertical.

Atlanta’s West Midtown district is seeing some of its last available large development tracts snatched up to make way for new projects. It is very rare in this market to see a retail-only development, as most new projects have the retail component as a complementary aspect to the multifamily or office section.  

In advance of the annual ICSC Southeast Conference & Deal Making show next week in Atlanta, Southeast Real Estate Business caught up with Bryan Belk, senior director of Franklin Street‘s Atlanta office, to discuss Atlanta’s retail market. The following is the edited Q&A:

Southeast Real Estate Business: Is there a project underway in an Atlanta neighborhood south of I-20 that has been traditionally under-served by retailers and restaurants? 

Belk: In Stockbridge, RCP Cos. out of Huntsville, Ala., recently announced it will be starting a $300 million project anchored by Cabela’s called Jodeco | Atlanta South. The development will span more than 500,000 square feet and include retail and restaurants, an entertainment hub, outdoor fitness and recreation areas, two upscale hotels and 600 residential units. The project will be a game changer for the Southside market.

SREB: How has the Beltline changed Atlanta’s retail market? What does the future hold for Beltline-centric retail and restaurants?

Belk: The Beltline has helped spur development areas that have been neglected in many cases for 50 years. Restaurants and retail shops have popped up along the corridor, which makes the city much more walkable.

Pellerin Real Estate has a new project along the Beltline called The Beacon Atlanta, a $20 million revitalization of six industrial warehouses into a unique retail development. As more segments of the Beltline are completed, developers will propose projects like Beacon.

SREB: How have the tenant mixes for retail developments in Atlanta evolved in the past five years? Have you observed any significant changes? 

Belk: Developers are paying attention to their tenant mix more than ever with the threat of e-commerce competition. Developers have focused on attracting more restaurants to new developments. In many cases, owners are [seeking] more than 40 percent of the tenant mix to be food-centric because of the old adage “everyone has to eat.” That puts a parking strain on many of the in-town developments though, which is why developers are also paying more attention to the walkability of their developments.
 

View the original story here: http://emailactivity1.ecn5.com/engines/publicPreview.aspx?blastID=1571215&emailID=279495176

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Yvonne Baker brings 25+ years of experience to Franklin Street

From starting in commercial real estate lending during a financial crisis to diving head first into office leasing, Yvonne Baker’s determination to dominate the industry has not gone unnoticed.

While serving for two years as senior director for Cushman & Wakefield in Orlando, Baker was named one of Orlando Business Journal ’s 2014 Business Executives of the Year. Prior to Cushman & Wakefield, she was director of agency leasing for JLL and helped grow the firm’s portfolio in Orlando and Jacksonville from slightly under 1 million square feet to more than 4.5 million square feet.

With her success, Franklin Street approached Baker with the opportunity to lead its new Orlando office, which opened in May, as regional managing partner. She is responsible for growing the company’s new location while remaining directly involved with her clients’ lease transactions.

Franklin Street, founded in 2006, is a full-service firm with locations in Tampa, Atlanta, Jacksonville, Orlando, Miami and Fort Lauderdale.

Here, Baker talks more what she’s learned along the way:

What prompted your initial move from commercial real estate lending to specializing in office leasing? I went into the business in 1989 at one of the worst times because the financial crisis was so deep. However, it was a good time to learn the business. Someone who had been in lending, a mentor, brought me in, taught me the business and made sure I was successful.

What attracted you to Franklin Street? Franklin Street provides a platform where they’re very dedicated to bringing in young talent and making sure they really get trained, and that’s part of what I’ll get to do. That’s what I’m really passionate about and very excited to be part of, being able to grow the office with young talent and have a hand in training them, knowing you’re leaving a good legacy with good people behind you.

What else distinguishes Franklin Street from other brokerages you’ve worked at? Major corporations typically focus on the typical brokerage areas: office, industrial, tenant rep and capital markets. What we’ve added into this is the evaluation side, so if you’re ready to sell your asset, we already may be leasing and managing it for you, and our evaluation people can do an appraisal for you and provide that service. And then with the commercial insurance side, we can insure your property for you, as well. We also do multifamily leasing and management, which none of the major corporations provide. From its inception, Franklin Street was always planned to be a diverse multi-services firm. After starting as a mortgage brokerage, the firm quickly opened up its insurance and real estate lines in 2008 and the management services division in 2009. Through the collaboration of our business lines, we were able to position the company to withstand the market downturn in 2008 and successfully grow it in one of the hardest-hit states during the greatest real estate and financial collapse since the Great Depression.

Why is Orlando a prime location for Franklin Street? It’s the center of the state and a critical city to have operations in. A lot of owners are here. This gets a lot of looks from investors from all over the United States. We have clients that are in Tampa who also are in Orlando. For instance, when we won the property management for Starwood Capital, we picked up three assets. Two were here, and one of them was in Tampa. So, you’ll often have these cross-lines of clients. If you’re going to “play” in Florida, you’ve got to be in South Florida, Tampa, Orlando and Jacksonville. That’s where all the investors look.

What are your immediate plans for the Orlando office? We’re looking for permanent office space downtown, growing the portfolio of clients on the institutional and private client arenas, and hiring more people.

Has it been a challenge being a woman in a male-dominated field? Being in a male-dominated industry has its challenges. However, the industry has made great strides for women and the leadership of women. Franklin Street has a great group of talented leaders, both men and women, who are interested in working as a team. Collaboration is not just a buzzword here.

What’s been the best business decision you’ve made? Going back to UCF and getting my master’s degree in 2010 to 2011. That motivated me to do more, look at work and life in a different perspective as education can do. That decision put me on the path to be prepared for this opportunity at Franklin Street.

Your advice to other entrepreneurs? Don’t be afraid of following an affirmative path. Make the time you’ve been given count, right down to the seconds.

Yvonne Baker

Title and firm: Regional managing partner, Orlando office, Franklin Street

Description: Full-service commercial real estate brokerage

Year company founded locally: May 2016

Address: 390 N. Orange Ave., Suite 2300, Orlando

Contact: (407) 458-5400; franklinst.com

Twitter: @FranklinST_llc

View the original story here: http://www.bizjournals.com/orlando/news/2016/10/26/yvonne-baker-brings-25-years-of-experience-to.html

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Retailers Refocusing on What It Takes to Attract Foot Traffic

Excerpted from Daily Business Review story.

“Properties that service the local community here are going to continue to do well,” Wolfe added.

Franklin Street is banking on just that.

The Tampa-based real estate company is marketing a 16-asset portfolio in Broward and Palm Beach counties. The portfolio is comprised of small Class B and C unanchored strip centers, which combined total about 115,000 square feet of retail space.

The portfolio will most likely trade for about $22 million at a 6 percent cap rate, said Robert Granda, director of investment sales with Franklin Street in Fort Lauderdale. Within three days, well over 100 investors were eyeing the portfolio. 

“It just shows that these type of assets are strong, and they fit the economy very well,” he said.

The e-commerce industry is still in its infancy in his opinion. Retailers are still learning how to converge their online shopping segment with brick-and-mortar operations. 

“As it pertains to these types of assets e-commerce doesn’t really affect them,” he said. “These are mom-and-pop, small business owners that provide a service to the community.”

The centers are almost all fully occupied by tenants such as dry cleaning businesses, medical offices, cellphone and shoe repair stores, and other service-oriented retailers. 

 

View the original story here: http://www.dailybusinessreview.com/home/id=1202770660576/Retailers-Refocusing-on-What-It-Takes-to-Attract-Foot-Traffic?mcode=1202617073880&curindex=1&slreturn=20160926112054

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Jacksonville brokers forecast what to expect in CRE

Some professionals in Jacksonville’s commercial real estate market see the gears just starting to turn as all segments of the market appear poised to continue improvement into next year.

That’s despite positive net absorption in both the industrial and office markets, but the new space in those sectors is due to significant new construction — something that hasn’t happened in Jacksonville in several years.

Construction crews are also creating new space for retail, but that space seems to be quickly leased as several new developments around the St. Johns Town Center spring up.

Carrie Smith, managing director of Franklin Street’s Jacksonville office, said retail has had a strong year this year and she expects that to continue.

Part of retail’s growth nationally has been spurred by grocers aggressively expanding and the emergence of new entertainment venues.

Jacksonville’s retail space has an average occupancy rate of above 91 percent with asking rates higher than $13.25 a square foot across all asset classes.

While retail has been perhaps Jacksonville’s strongest sector outside of multifamily, industrial real estate has also had a good year.

View the rest of the story here: http://www.bizjournals.com/jacksonville/news/2016/10/25/jacksonville-brokers-forecast-what-to-expect-in.html?ana=e_mc_prem&s=newsletter&ed=2016-10-25&u=6mYEZ%2F1M%2F0PB%2BPQCZtwzaA06b7b21b&t=1477410487&j=76238591

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Will The Vertical Rental Market Crash Next Summer?

ATLANTA—Owners, developers, retailers, brokers, lenders, municipalities, property asset managers and product and service providers are gather under one roof to exhibit, make deals and form successful business partnerships at the ICSC Southeast Conference Nov. 1-3. The conference is set for Atlanta.

GlobeSt.com caught up with Emil Guillia, senior director at Franklin Street, to get a sneak preview of his expectations of retailers this year. He also shares how retail has changed in the face of e-commerce and how it will continue to evolve in the coming years in this exclusive interview.

GlobeSt.com: What are you anticipating for ICSC Southeast?

Guillia: I am anticipating that we will continue to see retailers downsizing and looking for smaller store footprints, and there will be an over expansion of restaurants in some markets, particularly where QSRs have been very aggressive. Some of the mixed-use projects that are proposed either won’t get built or will be postponed as I believe the vertical rental market will crash next summer.

GlobeSt.com: How has retail changed due to e-commerce and how will it continue to impact the industry during the next five to 10 years?

Guillia: Retailers will rely on customer analytics acquired via social media and e-commerce channels to make real estate decisions more than ever. The role of the distribution centers will factor into the retailers proforma more than in the past due to the reliance on not all inventory being kept in store.

Brokers will be required to secure information from cell phone apps to supplement the decision logic needed to make the right real estate decisions. Developers will be pressed to explain why their property is relevant beyond its location alone.

They will be counted on to integrate programming and technology as a means to keeping people on site longer. Social media, program and marketing managers will be a bigger part of both the retailers and developers in house personnel.

View the original story here: http://www.globest.com/sites/jenniferleclaire/2016/10/20/will-the-vertical-rental-market-crash-next-summer/?slreturn=20160920100303

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Dave Curry Joins Franklin Street as Senior Regional Manager

Franklin Street today announces the addition of Dave Curry as senior regional manager of retail, based in the firm’s Atlanta office. As senior regional partner, Curry will oversee the company’s more than 1 million-square-foot retail portfolio, as well as seek growth opportunities in the office and industrial sectors alongside John Leonard, regional managing partner.

“Dave’s deep knowledge and expertise, as well as his solid relationships, will allow us to grow our portfolio and help guide Franklin Street to new management opportunities,” Leonard said. “The timing couldn’t have been better as there is tremendous amount of capital looking for acquisitions like institutional and foreign investors, and Atlanta is an enormous commercial real estate hub. We believe Dave will be able to expand our business throughout all of the primary sectors.”

Curry joins the Tampa-based company, which offers a full suite of commercial real estate services including real estate, capital, insurance, management and valuation, after spending more than 25 years in leasing, marketing and property management. He has worked with several institutional clients including the New York State Teachers’ Retirement System (NYSTRS), Abu Dhabi Investment Authority (ADIA), California Public Retirement System (CALPERS), Lend Lease Corporation and Morgan Stanley Real Estate. He’s managed large office properties like the Equitable Building and Overlook in Atlanta, as well as leased the Atlanta Financial Center and Monarch Centre, two of Atlanta’s prominent trophy office properties.

“During my career, I’ve been fortunate to work for some large international publicly-traded real estate firms, but when I made the decision to make a change, my ideal search was for a privately-held regional company with an entrepreneurial culture and a team environment,” Curry said. “I also wanted to use multiple aspects of my real estate background to continue to grow with new and different experiences, and Franklin Street offers that opportunity.”

Prior to joining Franklin Street, Curry was a managing director at Newmark Grubb Knight Frank where he was a top 10 producer for several years. At the company, he marketed and leased Monarch Centre, Atlanta’s premier 1 million-square-foot, Class A office complex for nearly 15 years. Curry completed the assignment in 2015 and concluded with a 93,000-square-foot lease with JP Morgan, whose name is prominently displayed atop Monarch Centre and is seen today throughout much of Buckhead. Most recently, he was a managing director at Beck Partners in Tallahassee, Florida.

Curry is an avid runner and has completed more than 40 marathons, including the Boston Marathon and four Ironman Triathlons. He also enjoys international travel, and has attended every summer Olympics since 1996.

About Franklin Street: Franklin Street is a family of full-service real estate companies focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise, and experience of each of its divisions—Real Estate, Capital, Insurance, Management, and Valuation—Franklin Street offers unmatched value and optimal solutions for clients nationwide. For more information on Franklin Street, please visit FranklinSt.com.

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People on the Move | Dave Curry

Dave Curry

Date Added: October 18, 2016

Submission Type: New Hire

Current Employer: Franklin Street

Current Title/Position: Senior Regional Manager of Retail

Industry: Commercial Real Estate

Position Level: Senior Manager

Duties/Responsibilities: As senior regional partner, Curry will oversee the company’s more than 1 million-square-foot retail portfolio, as well as seek growth opportunities in the office and industrial sectors alongside John Leonard, regional managing partner.

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Dave Curry: We’re In The Seventh Inning

ATLANTA—Dave Curry has joined Franklin Street as senior regional manager of retail in the firm’s Atlanta office. Curry will oversee the company’s more than 1 million-square-foot retail portfolio, as well as seek growth opportunities in the office and industrial sectors alongside regional managing partner John Leonard.

“Atlanta remains on the radar screen for institutional buyers of retail properties, particularly with Atlanta’s continued strong market fundamentals including population and wage growth,” Curry tells GlobeSt.com. “Accordingly, we are seeing continued asset sale velocity as some owners determine their properties have reached an appropriate sale value, while plenty of other institutional owners have ample capital available to participate in Atlanta’s vibrant commercial real estate market. In terms of the real estate cycle itself, I think we’re in the seventh inning of a baseball game, a game which may go into extra innings.”

Curry comes to Franklin Street with more than 25 years in commercial real estate leasing, marketing and property management. He has worked with several institutional clients including the New York State Teachers’ Retirement System (NYSTRS), Abu Dhabi Investment Authority (ADIA), California Public Retirement System (CALPERS), Lend Lease Corporation and Morgan Stanley Real Estate.

“The timing couldn’t have been better as there is tremendous amount of capital looking for acquisitions like institutional and foreign investors, and Atlanta is an enormous commercial real estate hub,” Leonard says. “We believe Dave will be able to expand our business throughout all of the primary sectors.”

Prior to joining Franklin Street, Curry was a managing director at Newmark Grubb Knight Frank. He was a top 10 producer for several years. At the company, he marketed and leased Monarch Centre, Atlanta’s premier 1 million-square-foot, class A office complex for nearly 15 years. Curry completed the assignment in 2015 and concluded with a 93,000-square-foot lease with JP Morgan, whose name is prominently displayed atop Monarch Centre and is seen today throughout much of Buckhead. Most recently, he was a managing director at Beck Partners in Tallahassee, FL.

View the original story here: http://www.globest.com/sites/jenniferleclaire/2016/10/19/dave-curry-were-in-the-seventh-inning/?slreturn=20160919092601

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