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Miami Tower’s newest tenants BDO and Chartwell Law take 32,500 SF

Excerpted from NAIOP South Florida story.

MIAMI – Transwestern’s South Florida Agency Leasing team today announces Miami Tower, a 47-story, landmark office skyscraper at 100 SE Second St. in downtown Miami, increased occupancy by 32,500 square feet. Transwestern Managing Director Glenn H. Gregory and Vice President Christopher Dubberly negotiated the following new, long-term lease agreements:

BDO USA, the United States Member Firm of BDO International, a global accounting network, signed a 23,000-square-foot lease to consolidate its Brickell and Coral Gables offices into one downtown Miami location. Dubberly represented Miami Tower ownership, and Gregory represented the tenant.

The Chartwell Law Offices, a national law firm, signed a 9,500-square-foot lease, marking its relocation from Southeast Financial Center in downtown Miami. Gregory and Dubberly represented Miami Tower ownership, and Franklin Street Director Tom Farmer and Gola Corporate Real Estate’s Eric Wahlers represented the tenant.

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The List: Top Commercial Real Estate Brokers in Tampa Bay- 2017

Excerpted from Tampa Bay Business Journal story.

Ranked by total volume generated out of Tampa Bay in 2017

#8

Company Name: Franklin Street

600 N. West Shore Blvd. #600 
Tampa, FL 33609
813-839-7300
FranklinSt.com

Total volume 2017: $364,584,477     

Sales volume 2017: $258,862,443

Lease volume 2017: $105,722,034

Local licensed brokers: 14

Local offices: 1

Year founded: 2006

Number of local employees: 117

Top Local Executive(s): Andrew Wright, CEO/Managing Partner

For full story, visit https://www.bizjournals.com/tampabay/subscriber-only/2018/03/30/largest-tampa-bay-commercial-real.html
 

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People on the Move: Mariah Klein

NEW HIRE  COMMERCIAL REAL ESTATE 

Mariah Klein
Senior Director at Franklin Street
EDUCATION:  University of North Carolina at Chapel Hill (NC)

As Senior Director specializing in Retail Landlord Representation in Franklin Street’s Atlanta office, Mariah Klein focuses on property and location analysis, marketing and leasing strategy, and negotiation services for retail property owners across the southeast. She is a former International Council of Shopping Centers (ICSC) Georgia state director with over 21 years of professional retail leasing experience.

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Franklin Street Secures Lease for Warren Averett, LLC in Tampa Office Tower

Franklin Street, a full-service commercial real estate company, arranged the lease of 13,657 square feet of Class A office space in downtown Tampa’s Rivergate Tower to Warren Averett, LLC, a public accounting firm with U.S. headquarters in Birmingham, Ala. The lease will allow the firm to move from its current location nearby at 100 Ashley Drive S. in the Wells Fargo Center to their new office this year. Chris Butler, Managing Director for Franklin Street’s Office and Industrial division, represented the tenant in the transaction. 

“Warren Averett had occupied its existing space for a number of years, and the company felt it needed a bold new workplace that reflected its continued commitment to high performance and innovation in servicing the firm’s clients,” said Butler. “Our office leasing team was extremely pleased to help them find an unbeatable location in the heart of downtown. The new space will feature a clean, modern look that will embrace the building’s unique cylinder design.”

Warren Averett signed a long-term lease for the seventh floor at Rivergate Tower, which is located at 400 N. Ashley Drive. The firm, which has multiple offices around the southeast, plans to relocate 58 employees to the new space and modernize its operations in Tampa. 

Built in 1988, the 31-story Rivergate Tower is one of the tallest limestone structures in the world and offers unobstructed 360-degree views of the Tampa skyline. Property amenities include a two-story, 735-space underground parking garage, Malio’s Prime Steakhouse, a high-quality fitness facility, an upscale breakfast/lunch emporium, a full-service branch bank and ATM, conference rooms and complimentary valet parking. 

About Franklin Street: Celebrating more than 10 years in the business, Franklin Street is a family of full-service commercial real estate companies focused on delivering value-add 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, Property Management and Project Management – Franklin Street offers unmatched value and optimal solutions for clients nationwide. Learn more about Franklin Street at FranklinSt.com.

 
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How Florida Hotel Underwriting Is Changing

Excerpted from GlobeSt.com story.

MIAMI—Underwriters are paying attention to the hotel dynamics in Florida, which is seeing both a population and tourist boom. What changes are ahead?

GlobeSt.com caught up with Ben Miller and Casey Siggins, directors of Loan Origination at Franklin Street, to get some answers. You can still read part one of this interview: Is Florida’s Hotel Market in Danger of Overbuilding?

For full story, visit http://www.globest.com/2018/03/27/how-florida-hotel-underwriting-is-changing/

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Mariah Klein Joins Franklin Street as Senior Director of Retail Landlord Leasing

Franklin Street, a full-service commercial real estate firm, announced today that Mariah Klein has joined the company’s Retail Landlord Services division as senior director.  In this role, Klein will focus on property and location analysis, marketing and leasing strategy, and negotiation services for retail property owners in Atlanta and across the southeast. She is a former International Council of Shopping Centers (ICSC) Georgia state director with over 21 years of professional retail leasing experience.

“Mariah brings extensive experience and a proven track record in research, analysis, tenant qualification and client relationships,” said Kurt Keaton, president of real estate services and management services for Franklin Street. “She is a leading shopping center industry expert who will play a significant role in furthering Franklin Street’s strategic growth.”

Most recently, Klein served as director of leasing at Genesis Real Estate Advisers, where she managed the leasing, renewal and expansion activity for the company’s portfolio of existing properties. In addition, she assisted in generating and leasing new development projects at Genesis. Previously, Klein was senior vice president of leasing for Ben Carter Properties, one of the largest retail developers in the southeastern U.S. Klein was also a leasing representative for CNM Associates, a predecessor firm of Ben Carter Properties, where she was responsible for a retail portfolio of more than 1.5 million square feet of rentable area. 

“I am very excited to join the Franklin Street team,” said Klein. “Franklin Street has earned a reputation as a highly entrepreneurial firm with a top brand name and a strong company culture. I was impressed by the talented and passionate people that I have already met in the company. I am pleased to be part of a firm that offers such endless opportunities for personal and professional growth.”
 
“We look forward to Mariah becoming part of our Atlanta office and partnering with the landlord leasing team to build our business,” said Cary Beale, senior vice president of Franklin Street’s Retail Landlord Services division. “Having played key leadership roles with various major industry firms throughout her career, I am confident that she will deliver exceptional services for our clients as well.”

Klein earned her bachelor’s degree from the University of North Carolina at Chapel Hill. She is a licensed real estate broker in Georgia and Florida and is a licensed salesperson in South Carolina. An active voice for the commercial real estate industry, Klein is an active member of Commercial Real Estate Women (CREW) and the International Council of Shopping Centers (ICSC). She served as ICSC Georgia State Director from May 2012 through May 2015, Co-chair of the 2015 Southeast ICSC Program and Chair of the 2016 Southeast ICSC Program.

About Franklin Street: Celebrating more than 10 years in the business, Franklin Street is a family of full-service commercial real estate companies focused on delivering value-add 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, Property Management and Project Management – Franklin Street offers unmatched value and optimal solutions for clients nationwide. Learn more about Franklin Street at FranklinSt.com. 

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Is Florida’s Hotel Market In Danger Of Overbuilding?

Excerpted from GlobeSt.com story.

MIAMI—Construction lending in the Florida hotel market is still active but it is changing and will continue to change. So say Ben Miller and Casey Siggins, directors of Loan Origination at Franklin Street.

Specifically, the duo used words like selective and sidelines. GlobeSt.com caught up with Miller and Siggins, to get their insights in part one of this exclusive interview.

For full story, visit http://www.globest.com/2018/03/23/is-floridas-hotel-market-in-danger-of-overbuilding/

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Publix Supermarkets Buys 9 Retail Stores In FL, GA

Excerpted from GlobeSt.com story.

MIAMI—Madison International Realty and DDR sold a portfolio of nine Publix anchored shopping centers to the retail giant. The portfolio consists of 732,000 square feet of owned GLA with eight assets located in Florida and one in Georgia. The sale price was not disclosed.

“Publix has and will continue to be the dominant grocer in South Florida,” said Justin Berryman, director of Retail Leasing, and Aniley Perez, associate of Retail Leasing, at Franklin Street of Miami. “Discount grocers such as Aldi, along with specialty and gourmet chains like Whole Foods Market—and its new Whole Foods 365 smaller-store concept—and Sprouts are making a push to expand into the market.”

For full story, visit http://www.globest.com/2018/03/21/publix-supermarkets-buys-9-retail-stores-in-fl-ga/?channel=markets&section=miami

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Slew of store closings to challenge market

Excerpted from Jax Daily Record story.

The closing of the Winn-Dixie and Harveys stores did not send shock waves through the local market, said Carrie Smith, managing director of commercial real estate broker Franklin Street.

She said owners of the soon-vacant larger boxes should have little problem backfilling them.

“If I were involved in the leasing, I would not be discouraged at all,” Smith said. “Probably the low-hanging fruit is going to be another grocer. How they fit into the boxes I don’t know, but you have an opportunity for somebody in the organics space, particularly at the Baymeadows and Blanding sites. The other two sites you could backfill with discount grocers, like Sav-A-Lot.”

Smith said the Dunn Avenue and Edgewood locations could also be candidates for dividing the space for junior anchors such as Five Below and Dollar Tree.

“I wasn’t discouraged at all about this being some issue in the industry,” Smith said. “I think it opens up more opportunities than anything. I was talking to one of the Winn-Dixie (location) owners this morning and he already has a backup plan.”

Smith said retail center owners tend to be proactive, particularly when they have tenants experiencing financial difficulties. Even though the announced closing of six big-box retail locations within a few days is out of the ordinary, she’s confident the local market can absorb the space.

“I think it’s unusual for that much inventory to hit the market in one week, but it really is not a shock to anyone in our industry,” Smith said.

“If you are a potential tenant you are already in conversations with the owners to backfill that space,” she said.

For full story, visit https://www.jaxdailyrecord.com/article/slew-of-store-closings-to-challenge-market

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Awards & Recognition

TBBJ names 2018 Top Corporate Counsel of the year

Excerpted from Tampa Bay Business Journal story.

Tyler Cathey, COO and general counsel for Franklin Street, was named the 2018 Top Corporate Counsel of the year (Private company, 1,000 or more employees category) by the Tampa Bay Business Journal.

For full story visit, https://www.bizjournals.com/tampabay/news/2018/03/15/tbbj-names-2018-top-corporate-counsel-of-the-year.html