Categories
Awards Awards & Recognition Featured News

Franklin Street’s Ricky Ostrofsky Receives Connect CRE’s “Next Generation” Award

Franklin Street is pleased to congratulate Ricky Ostrofsky, Senior Associate with Franklin Street’s Jacksonville-based retail team, on receiving Connect Commercial Real Estate’s 2021 “Next Generation Award.” Ricky was just one of 10 deserving individuals in Florida and the Gulf Coast to win this award, which honors rising stars in commercial real estate.

Franklin Street is proud to be a firm that fosters and develops the careers of hard-working young professionals who bring innovation and fresh perspective to our business. Here’s are just some of the reasons why Connect recognized Ricky as one of our industry’s top young leaders:

Ricky Ostrofsky is a member of the Retail Leasing Team at Franklin Street, a full-service commercial real estate firm that represents owners and landlords of retail properties throughout the Northeast Florida market. As a senior associate, Ostrofsky is seen as a tremendous asset to the team, which is responsible for leasing more than four million square feet of retail space in a region that spans Tallahassee, Jacksonville, and St. Augustine and includes such clients as RPT Realty, Noble Properties, Kimco Realty and Triforce Development.

In addition, he assists in the expansion of local, regional, and national retailers, including Xponential Fitness, Captain D’s, Surterra Wellness Centers, T-Mobile, Great Clips, and Meritage Hospitality Group.  

Prior to joining Franklin Street in November 2018, Ostrofsky worked at The Shopping Center Group. There, he helped manage a portfolio of retail shopping centers throughout North Florida, South Georgia and college campuses throughout the U.S. 

— Connect Commercial Real Estate

Read more about Ricky here.

Categories
Awards Awards & Recognition Featured News

Franklin Street’s Matt Alexander Receives Connect CRE’s “Next Generation” Award

Franklin Street is pleased to congratulate Matt Alexander, Director with our Office & Industrial team, on receiving Connect Commercial Real Estate’s 2021 “Next Generation Award.” Matt was just one of 10 deserving individuals in Florida and the Gulf Coast to win this award, which honors rising stars in commercial real estate.

At Franklin Street, we are proud to have a diverse team that includes talented young professionals like Matt, who bring valuable perspective and innovative thinking to our business. Here’s why Connect recognized Matt as one of our industry’s top young leaders:

As director with Franklin Street’s Tampa-based office and Industrial leasing team, Matt Alexander had an outstanding year in 2020. Despite many unforeseen challenges due to the COVID-19 pandemic, Alexander and his team completed 132 total transactions (118 leases, 14 sales) valued at more than $188 million. 

This is a major accomplishment considering the majority of the team’s business is in office leasing, a sector that faced many hurdles over the past year. Alexander played a major role in the team’s success, stepping up to go the extra mile for every deal.

At just 28, Alexander has already made a name for himself in the Tampa Bay commercial real estate market, as a lead agent representing one of Tampa’s most notable and transformative office properties, Westshore City Center. 

In less than two years, Alexander and his team have brought Westshore City Center to 85% occupancy, up from 35% when Franklin Street first took over the leasing. In fall 2020, the team arranged a 90,000-square-foot lease at the property for the headquarters of Heritage Insurance. The full-building lease was the largest office lease in Tampa in recent years and made waves throughout the market. 

— Connect Commercial Real Estate

Read more about Matt here.

Categories
Featured News In the News

David Lee Joins Franklin Street as Senior Director in Orlando

Lee, a veteran of Central Florida’s commercial real estate market, will strengthen the firm’s office leasing team

ORLANDO, FL (May 24, 2021) – Franklin Street is pleased to welcome David Lee, an industry veteran with over 37 years of experience in commercial real estate. As Senior Director of Office Leasing Services, Lee will focus on office landlord representation throughout the Central Florida market, while also supporting the firm’s tenant representation business.  

“Our Orlando team has been growing quickly on all fronts, from industrial to retail and now our office leasing business with the addition of David,” said Kurt Keaton, President of Real Estate and Management Services for Franklin Street. “David’s depth of experience and long-term relationships in the Central Florida market will add significant value as we continue to grow our office leasing portfolio and help bring new tenants to the area.”

A multi-disciplined real estate specialist, Lee brings extensive experience working in the office sector, having represented clients in leasing, sales, asset management and development. He began his career as an office broker with Cushman & Wakefield before going on to expand his areas of expertise at Mid-South Realty and the Allen Morris Company. In 1997, Lee founded his own company, Atlantic Realty Services, Inc., where he concentrated on the development of office and industrial properties and general brokerage services. 

Most recently, Lee served as Senior Vice President of Realty Capital Advisors, where he focused on office and retail leasing and sales, as well as site selection and analysis. He earned a Bachelor of Arts degree from Mercer University. 

“Franklin Street, with its track record of growth and success, feels like the right place to be as the office market recovers and is met with new opportunities,” said Lee. “This is a highly motivated team with limitless potential, and I look forward to what we can accomplish together.”

For press inquiries, contact Public.Relations@FranklinSt.com.

Categories
Featured News Trends

What Clients can Expect from Franklin Street’s Insurance Claims and Risk Management Services

By Eric Smith, Director of Risk Management & Claims

Through our established procedures on the oversight and management of claims, Franklin Street strives to achieve optimum results that will positively impact our clients’ portfolios. Supported by our dynamic team of professionals, our clients can feel confident their claims will be handled properly in a timely manner. 

When it comes to handling claims and risk management, here’s what clients can expect from our team:

1. Accurate, timely reporting and communication about your insurance claim. 

Our Franklin Street claims team is dedicated to monitoring and overseeing all claims reported. We provide ongoing communication throughout the life of a claim and prepare formal written reports on a quarterly basis for both property and general liability claims. We screen all incident reports to determine appropriate action with our clients’ internal team structures.

2. Specialized services for each and every insurance claim.  

Franklin Street ensures the most favorable outcomes by analyzing coverage disputes and preparing rebuttals to carriers. We collaborate with carriers to develop financial reserves on given claims. Leveraging these relationships ensures we can provide specialized resources and partners in the adjustment of the claims process. Franklin Street will also nominate a dedicated Executive General Adjuster to handle all first party property losses.

3. Tailored solutions for your unique risk profile. 

Our Risk Management Services have been established to ensure our clients are actively improving onsite protocols that reduce the number of incidents and reported claims. Each client has a unique risk profile with a set of challenges we hope to help mitigate. Franklin Street will develop a comprehensive risk management plan to mitigate or eliminate risks by providing resources and guidance. Our internal Risk Management Team provides a continual thorough ongoing analysis of both property and liability exposures by creating Loss Analysis Reports. These analytic reports will identify causes of loss drivers and allow us to develop mitigation techniques. 

4. Tools and resources to help your management staff reduce liability. 

To provide property management staff education, Franklin Street has developed a robust Risk Management Library that consists of tools and resources such as Fire Safety flyers, Hurricane Preparedness checklists, Inspection Checklists for on-site Property Managers and more. 

5. 24/7 service you can count on. 

Our team does not set limits to the amount of time we dedicate to our clients. We invest as much time that is necessary to satisfy needs and accomplish goals that have been established. Our team motto is, “when our clients are thinking about insurance, we’re not doing our job”.

For more information about Franklin Street Insurance Services, visit the Insurance page on our website. For access to our risk management library contact us at insurance@franklinst.com.

Categories
Ask The Expert Featured News

Ask The Expert: How do you keep a commercial construction project on schedule and on budget?

The commercial construction supply chain is becoming more and more global every day. Keeping your project on track and in line with your pro forma despite global pandemics, natural disasters and international transportation bottlenecks can seem like an insurmountable task. It can be done with the right planning and flexibility. Getting organized early will help you make the best decisions during due diligence and pre-construction to keep your project moving forward.

Before material gets ordered, permits get pulled or workers are on site there can be months of due diligence and pre-construction.  Major decisions are made that will eventually translate to cost and time before the project is complete. Should you use wood or metal? Pre-cast or site cast? Open web steel joist or steel I-beam? If you are flexible and organized, you can quickly react to changing supply lead times and avoid costly delays when you are ready to start purchasing material.

We recently had a ground up project in pre-construction that was being designed with open web steel joist to support the roof structure. We started to hear rumors on other projects that the lead time on this material was climbing to almost a year from date of purchase to date of delivery due to various factors. Knowing that the cost of lost income due to a delayed opening date would far exceed the cost to change to steel I-beam we quickly pivoted and adjusted the design. This saved the client months of costly delays before we even started construction and helped us avoid change orders once construction had started. There are many alternate materials and methods available and each should be selected with a view to the cost as well as lead time to keep a project moving.

Geoffrey Furey, Project Manager

Categories
Awards Awards & Recognition Featured News In the News Industry Publication

South Florida Business Journal Recognizes Franklin Street’s Greg Matus as 2021 ‘Power Broker’

Franklin Street is pleased to congratulate Greg Matus, Managing Director of Investment Sales, on being named to South Florida Business Journal’s 2021 “Power Brokers” list. This prestigious list recognizes the top 25 commercial real estate brokers in South Florida, including Miami-Dade, Broward and Palm Beach Counties.

Greg was awarded this honor for his outstanding production in 2020, ranking as a top producer within Franklin Street and the South Florida market.

“He has handled thousands of retail, multifamily, hospitality, office, industrial and land transactions valued at more than $3 billion,” SFBJ reports.

Learn more about Greg Below:

Birthplace: Johannesburg

Education: B.S.B.A., University of Florida

First property I bought/sold: A 36-unit apartment building in North Miami in 2002 for about $2 million

A deal the pandemic helped push through: The sale of a 180-unit apartment property in Lauderhill

Favorite local getaway spot: Turnberry in Aventura

Favorite vacation spot: Asheville, North Carolina

Favorite podcast: “THINK Business with Jon Dwoskin”

Title of my life story: “Four Sons and the Princess” (as a father of four boys and one daughter)

My hidden talent: Juggling

See the full list of South Florida Business Journal’s 2021 CRE “Power Brokers” here.

Categories
Awards Awards & Recognition Featured News Industry Publication

South Florida Business Journal Recognizes Franklin Street’s Dan Dratch as 2021 ‘Power Broker’

Franklin Street is pleased to congratulate Dan Dratch, Director of Multifamily Investment Sales, on being named to South Florida Business Journal’s 2021 “Power Brokers” list. This prestigious list recognizes the top 25 commercial real estate brokers in South Florida, including Miami-Dade, Broward and Palm Beach Counties.

Dan was awarded this honor for his outstanding production in 2020, ranking as a top producer within Franklin Street and the South Florida market.

“Since 2017, Dratch has exclusively listed and sold approximately $120 million worth of Class B and C multifamily assets in the South Florida market,” SFBJ reports. “Since the pandemic, transactions have included 180 units in Lauderhill and 28 units in Margate.”

Learn more about Dan Below:

Birthplace: Westchester, New York

Education: B.B.A., St. Thomas Aquinas College

First property I bought/sold: A 14-unit apartment building in Fort Lauderdale

Favorite vacation spot: Cancún, Mexico

Favorite podcast: “The Joe Rogan Experience”

I could spend an afternoon at: Brooks Brothers or Best Buy

Favorite show growing up: “The Simpsons”

Title of my life story: “Nice Guys Finish First”

See the full list of South Florida Business Journal’s 2021 CRE “Power Brokers” here.

Categories
Featured News Research Trends

Weathering the Storm Part 1: Is Your Commercial Property Prepared for Hurricane Season?

Hurricane Season officially begins on June 1, and this year, the National Oceanic and Atmospheric Administration (NOAA) is already predicting an above average year in terms of storm activity.

NOAA previously set the average number of named storms at 12. The agency has now updated that number to 14, based on new data. The average number of full-blown hurricanes is now 7, compared to the previous average of 6.

Also notably, although the official season doesn’t start until June, pre-season storms have become more common in recent years – last year, there were 2 – so it’s never too early to begin preparing.

As a commercial real estate owner or manager, preparedness is the key to mitigate damage to your property and ensure safety to your employees and tenants. In recognition of this week, May 9-15, being National Hurricane Preparedness Week, Franklin Street encourages our clients to take the following steps:

10 Steps to Prepare Your Commercial Real Estate Property

1. Consider installing impact-resistant film on your windows.

2. Trim surrounding trees to reduce potential of falling and windblown damages from branches.

3. Assess inventory on hand for all items that may be needed immediately post-storm (plywood, sandbags, flashlights, etc.)

4. Photograph and video the property, including the roof, to document its condition pre-storm. A roof inspection report can also be helpful to show hurricane damages post-loss if roofs are in good condition prior to loss.

5. Provide employees with a chain of command and list of responsibilities to undertake following the storm.

6. Post and distribute a list of all emergency numbers, including office and maintenance staff.

7. Gather a list of vendor contacts and telephone numbers that you would plan on contacting for services following a hurricane. We suggest determining which contractor you plan to hire for emergency mitigation and repair services well in advance.

8. Ensure you have updated addresses and emergency contact information for all employees. It’s also a good idea to gather information on where employees plan to evacuate if necessary. 

9. Prepare and distribute a hurricane preparedness guide to tenants.

10. Especially for multifamily properties, notify tenants of evacuation zones and the location of nearest official shelter. The Red Cross can tell you the nearest shelter to your community and explain the specific details on the accommodations and what items one should bring with them to a shelter. Have the route to the nearest shelter printed for distribution to your staff and residents.

From Insurance Services to Property Management, Franklin Street teams are available around the clock to help our clients through Hurricane Season. For access to more risk management materials, contact us at insurance@franklinst.com.

Categories
Featured Deal Featured News In the News

Tampa Bay Business Journal: Q&A with Tampa restaurateur Jeff Gigante, who’s bringing Union New American to Westshore

Franklin Street is pleased to announce the newest amenity coming to Westshore City Center, an elevated dining concept called Union New American. Learn more about the restaurant in the below Q&A with Jeff Gigante, who is partnering with Franklin Street’s Andrew Wright to bring it to life.

Tampa restaurateur Jeff Gigante has an ambitious vision for his next concept: Union New American, a 10,000-square-foot, two-story, full-service restaurant that will open in Westshore this fall.

Union New American is the first concept to debut under Gigante’s new company, Next Level Brands. It is an evolution of Gigante Hospitality, and his business partners are Joseph Guggino and Tampa real estate executive, Andrew Wright.

The restaurant is under construction at Westshore City Center, an office park owned by Wright’s Ally Capital. It’s slated to open this fall.

Gigante, who co-founded Tampa’s Ciccio Restaurant Group, spoke with the Tampa Bay Business Journal about Union New American — and why he still believes in full-service dining. This interview has been edited for brevity and clarity.

Is this concept one you’ve always had in the back of your mind? What was the inspiration? When I was at CRG, we’d had success by looking at the culinary landscape and filling in the gaps of what’s missing. And that iconic American restaurant — outside of J. Alexander’s and On Swann — I just haven’t seen that ever really executed properly, with a proper events space and rooftop lounge, so I always wanted to do that concept.

In Westshore, restaurants are supported by office workers, many of whom are still working at home. Does that concern you? I’m not worried because I know, first of all, Heritage is building their main office on the site, and that’s going to open up around the same time. [Heritage Insurance signed a big office lease last fall to move its headquarters from Clearwater to Westshore City Center.]  But when everyone is back in the office, there are like 70,000 office workers within a 3-mile radius, and I know we’ll be able to draw from that. 

Read more from Tampa Bay Business Journal.

Categories
Awards Awards & Recognition Featured News

NAIOP Names Westshore City Center ‘Best Office Project’ in Tampa Bay

Franklin Street is pleased to announce that Westshore City Center has been recognized as Tampa Bay’s “Best Office Project” by NAIOP, one of the most trusted professional organizations within the commercial real estate industry.

The NAIOP Tampa Bay chapter honored the market’s top commercial real estate projects and deals at its 27th Annual Best of the Best Awards gala on April 22 at Raymond James Stadium. Winners were selected for their outstanding contributions to the commercial real industry during a challenging 2020.

Franklin Street handles leasing, property management and project management for Westshore City Center on behalf of its owner, Ally Capital Group. Here’s what makes Westshore City Center Tampa Bay’s top office project:

“Since acquiring the 300,000-square-foot, 10-acre property, formerly known as Austin Center, in 2019, Ally Capital Group and Franklin Street have brought Westshore City Center from 35% occupancy to 85%, while implementing a $10 million renovation program, currently in progress. This project includes demolition to make way for new construction to house a First Watch cafe, significant interior improvements, exterior and structural improvements to include energy efficient windows, refreshed parking areas and new landscaping.

When the pandemic shut others down, Franklin Street and Ally Capital Group kept moving forward. Notably, Westshore City Center recently secured the relocation of the corporate headquarters of Heritage Insurance, which will occupy 88,000 square feet in a full 8-floor building.” — Excerpt from the award submission

Learn more about Westshore City Center here and view a full list of 2020 Best of the Best winners on NAIOP Tampa Bay’s website.