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How this retired airman helped grow his real estate firm’s Orlando presence

Excerpted from Orlando Business Journal story.

Before he was charged with growing and developing his company in Orlando, Kurt Keaton was an intercollegiate athlete, made the dean’s list and served as a squadron commander while attaining an engineering degree from the U.S. Air Force Academy.

Keaton, president of real estate and management services for Franklin Street, first was responsible for launching the company’s local office and in the last year, has had to develop the business plan, recruit talent and ultimately create a new line of business in project management services — leading the company to nearly $1 million in revenue in its first full year and a spot among the region’s largest property management firms, based on Orlando Business Journal research.

For full story, visit https://www.bizjournals.com/orlando/news/2018/09/23/how-this-retired-airman-helped-grow-his-real.html

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South Florida Business News in Brief for the week of Sept. 14

Excerpted from South Florida Business Journal story.

Franklin Street managed the $2.7 million sale of Marlin Gardens Apartments, an 18-unit rental community at 1129 N.W. Third St. in Miami, to Cribella of Florida. www.franklinst.com.

For full story, visit https://www.bizjournals.com/southflorida/news/2018/09/11/news-in-brief-09-14-2018.html

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Water Street Tampa poised for a trio of new office offerings

Excerpted from Business Observer story.

Meanwhile, at Sparkman Wharf, a new two-story lobby is being installed in the 615 Channelside Drive project. The office space, with ceiling heights up to 40 feet, is being marketed to “creative and innovation-oriented tenants,” SPP says.

Bevirt says SPP also intends to relocate its offices in the building to 25,000 square feet in early 2020. Its offices will also contain a projectwide marketing center, he says.

The project also includes some 65,000 square feet of retail and restaurant space, along with an open-air space for gathering.

Commercial real estate firm Franklin Street’s Tampa office is handling the office leasing efforts there.

For full story, visit https://www.businessobserverfl.com/article/water-street-tampa-office-jll-strategic-property-partners-jeff-vinik-cascade-investment-llc

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Major San Marco construction project begins

Excerpted from Jacksonville Business Journal story.

Ricky Ostrofsky, a leasing associate with Franklin Street, said San Marco Promenade will have a minimum of 10,000 square feet of retail and could have up to 20,000, depending on what the developers decide. He is aiming to bring in restaurants and other service retail to the project.

In addition to the 284-unit complex, Chance Partners is in the pre-construction phase of development on a similar-sized project next door, which it is calling the San Marco Crossing. No architect has been selected for that project yet.

For full story, visit https://www.bizjournals.com/jacksonville/news/2018/09/12/major-san-marco-construction-project-begins.html

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Hometown Heroes: OBJ honors 2018 Veterans of Influence

Excerpted from Orlando Business Journal story.

Before he was charged with growing and developing his company  in Orlando, Kurt Keaton was an intercollegiate athlete, made the dean’s list and served as a squadron commander while attaining an engineering degree from the U.S. Air Force Academy. 

Keaton, president of real estate and management services for Franklin Street, first was responsible for launching the company’s local office. In the last year, he’s had to develop a business plan, recruit talent and ultimately create a new line of business in project management services – leading the company to nearly $1 million in revenue in its first full year. 

Keaton helped grow Franklin Street from having no presence in Orlando’s competitive commercial real estate industry to more than 15 employees; more than 23 percent growth; and landed numerous regional and national clients serving office, industrial and retail sectors, as well  as apartment property management, leasing, investment sales and project management assignments. 

Keaton’s experience in the Air Force, where he attained the highest security clearance level possible while working in weapons system development, had a big influence on his post-military career beginning  in 2000. He worked for national commercial real estate firm JLL (NYSE: JLL) in Orlando before joining Franklin Street

Outside of the business world, Keaton is an active member of Illuminate Church in Celebration; volunteers by coaching youth basketball for the Upward Youth group; supports Junior Achievement’s entrepreneurship, career readiness and financial literacy programs for  K-12 students; and played a key role in Franklin Street’s Orlando office raising $2,500-plus for Matthew’s Hope homeless ministry this year. 

Why did you join the military? It was a great opportunity to serve my country and get one of the best educations  in the world by attending the U.S. Air Force Academy, then serving as an officer in active duty. 

What was the most significant thing that happened to you while you were serving? Being upgraded to Top Secret-Special Access Required security clearance, and I worked on top secret weapon systems in classified locations. 

Favorite place you were stationed: Eglin Air Force Base – it’s a beautiful area of Florida and a great base for weapons development. 

What challenges do you face in your line of work? We are in strong growth mode and constantly are looking for good people who fit our core values. 

For full story, visit https://www.bizjournals.com/orlando/news/2018/09/05/hometown-heroes-obj-honors-2018-veterans-of.html

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Franklin Street Awarded Office Leasing Assignment for Tampa Oaks II

Franklin Street has been appointed exclusive leasing agent for Tampa Oaks II, a 104,082-square-foot, Class A office building located at 12906 Tampa Oaks Boulevard in the Temple Terrace submarket of Tampa, Florida. Estero, Florida-based TerraCap Management, which acquired the three-story building in 2016, awarded the leasing assignment to Chad Rupp and Matt Alexander of Franklin Street.

The property, which is currently 72% occupied, features a strong roster of tenants including; Liberty Mutual Insurance, HomeRiver Group and Enercon Services. Constructed in 2008, Tampa Oaks II is a Verizon Smart Park location with advanced technology, including voice, data, video communications services, and wireless network access. The complex provides a balanced corporate environment featuring jogging trails, scenic views and on-site management. The property offers easy accessibility to downtown Tampa, Tampa International Airport, and all major thoroughfares, including I-75, I-95 and SR 301.

“Tampa Oaks II still has space availability and the property boasts very competitive Class A office rates in a highly sought-after market,” said Alexander, leasing associate. “We are excited to get started on this opportunity and look forward to working with the TerraCap team on filling these vacancies.”

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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Florida 500: Andrew Wright, Managing Partner & CEO, Franklin Street

Excerpted from Florida Trend’s Florida 500, a special section that highlights the 500 most influential executives in different economic sectors throughout the state. 

Andrew Wright

MANAGING PARTNER & CEO, FRANKLIN STREET, TAMPA

Wright’s real estate and financial services firm, launched in 2006, “had a great 2007. There was no way I could have prepared for how vast the financial collapse would be in 2008. My wife and I had just welcomed our first daughter; you ask yourself whether it’s easier to just go work for somebody rather than try to build that dream. Thankfully, my wife helped me focus on the upside and the opportunity.”

EDUCATION Miami University (Ohio) (BA)

PHILANTHROPY My wife and I recently chaired the Tampa Zoo at Lowry Park’s gala, which raised the most funds in its 30-year history.

MOST DON’T KNOW I’m half Colombian. My grandparents emigrated from Colombia in the 1950s. I grew up with them, and my grandfather would only speak to me in Spanish.

FAVORITE TRIP Traveling across the country in a Winnebago with my grandparents when I was 13. We spent three months in a camper going to all the national monuments, presidential birthplaces and seeing the country.

For full story, visit https://floridatrend500.com/real-estate/andrew-wright/

 

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Luxe restaurants want a slice of Orlando’s retail market

Excerpted from Orlando Business Journal story.

Posh eateries reportedly are lining up to enter the retail complex in what’s expected to become one of Central Florida’s most prominent developments: the $1 billion mixed-use O-Town West project near Walt Disney World (NYSE: DIS).

And that isn’t surprising to industry experts.

Rather, it’s a sign that these luxury concepts — some new to the Sunshine State — now are seeing Orlando as a viable market to find success, said Terrence Hart, senior director with commercial real estate firm Franklin Street in Orlando, who isn’t involved with the project.

For full story, visit https://www.bizjournals.com/orlando/news/2018/09/05/luxe-restaurants-want-a-slice-of-orlando-s-retail.html

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Water Street Tampa unveils plans for 1 million square feet of office space

Excerpted from Tampa Bay Business Journal story.

The Sparkman Wharf space is being marketed in the mid $40s per square foot; rents in the two new towers will be in the low to mid $50s per square foot, said David Bevirt, executive vice president of leasing and strategy for SPP. Both of those rents are all-inclusive but do not include parking. 

Top-tier office space in downtown Tampa, in trophy buildings with the most premier views, commands rents in the mid to high $30s per square foot.

Bevirt, who moved to Tampa from Washington, D.C., in March to spearhead the office portion of Water Street, says he doesn’t think a deal will be announced before 1001 Water Street breaks ground, but that an announcement could come by mid-2019.

Between the Sparkman Wharf and 1001 Water Street, Bevirt said there are active negotiations on a total of 500,000 square feet of the forthcoming office space. Of that, about one-third is from local companies; one-third is from companies with a statewide presence; and a third is from national companies.

“We feel very good about where we are in our projections for lease up,” Bevirt said. 

SPP has retained Jim Moler, a senior vice president with JLL in Tampa, to oversee the leasing of 1001 Water Street. Chad Rupp, managing director of office and industrial services at Franklin Street, is leasing the Sparkman Wharf space.

For full story, visit https://www.bizjournals.com/tampabay/news/2018/09/06/water-street-tampa-unveils-plans-for-1-million.html

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Franklin Street’s Hernando Perez On Miami’s Hot Multifamily Market

Excerpted from GlobeSt.com story.

GlobeSt.com caught up with Hernando Perez, director of Multifamily Investment Sales at Franklin Street to discuss trends in Miami’s occupancy rates, what is driving them and why Little Havana is an incredible market.

For full story, visit https://www.globest.com/2018/09/04/franklin-streets-hernando-perez-on-miamis-hot-multifamily-market/