10 Steps Lenders Should Take When Inheriting a Distressed Commercial Real Estate Asset

June 17, 2021

By Chad DeFoor, Senior Director – Investment Sales  When commercial real estate properties go into foreclosure, it is not uncommon for a significant amount of deferred maintenance — not to mention critical Life Safety and Security issues — to accrue. Owners are often simply focused on making their debt service payments, while the asset deteriorates.  Many times, lenders inherit properties upon foreclosure with severe maintenance and life/safety needs that should be addressed promptly to mitigate ownership…

Shopping Center Business: Franklin Street Arranges $5.1 Million Sale of Central Plaza Shopping Center in St. Petersburg, Florida

St. Petersburg, Fla. — Franklin Street has arranged the $5.1 million sale of Central Plaza, a 19,016-square-foot, fully occupied shopping center located at 3270 Central Ave. in St. Petersburg. The property falls within a Qualified Opportunity Zone. Anthony Suarez and Ryan Derriman of Franklin Street represented the seller, a California-based private investor, in the transaction. Read…

St. Pete Catalyst: Central Plaza sells for $5.1M in St. Pete’s opportunity zone

June 16, 2021

The Central Plaza Shopping Center along Central Avenue has a new owner. The 19,016-square-foot plaza, at 3270 Central Ave., sold in a roughly $5.1 million deal between the seller California-based Brbrshy Investments and the buyer Charles Githler, who is the President and CEO of Sarasota-based Githler Development Inc. Franklin Street arranged the sale of the…

CoStar News: ‘Did You Hear?’ Franklin Street Selects Segrest To Lead Atlanta Industrial Division

June 15, 2021

Franklin Street, which has developed a reputation for executing retail and multifamily deals in Atlanta, has hired an industrial real estate veteran to grow the firm’s business across the Southeast. Tampa, Florida-based Franklin Street has appointed Victor Segrest as senior director in its industrial division. Segrest, who has executed leasing and sales assignments involving 22 million square feet…

Ask the Expert: How Will Florida’s Secondary Markets Continue to Outperform Traditional Expectations and Metrics Moving Forward?

Florida’s population has been growing for years now and COVID-19 has only heightened our population growth. Not everyone who moves to Florida wants to relocate to one of our larger cities, which is a positive for all of the second- and third-tier markets around the state. We are seeing some secondary markets getting more and…