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Commercial Real Estate
The property management business has held up better than sales and leasing for many commercial real estate brokerage firms over the past year. Kimberly Lamb, senior executive vice president with Colliers Arnold, says lenders taking back distressed properties will be a source of new business for the firm’s property management division.
The property management business has held up better than sales and leasing for many commercial real estate brokerage firms over the past year. Kimberly Lamb, senior executive vice president with Colliers Arnold, says lenders taking back distressed properties will be a source of new business for the firm’s property management division.

Management Stars

Property management companies are lining up to help banks and other lenders manage distressed commercial real estate. It’s one of the few bright spots in an industry decimated by the recession.

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JimJett.com Lee Arnold, chairman of Arnold Cos., left, and Anthony Martin, vice president with Wachovia, share a light moment during an otherwise grim outlook for commercial real estate owners at a CCIM conference in Bonita Springs.

Owners in distress

Commercial real estate defaults are increasing and brokers and bankers are preparing for a growing number of foreclosures on office buildings, shopping centers and warehouses. Bankers have been slow to take back property.

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Reset for Recovery

Gulf Coast office buildings now offering cheap rents and plentiful space will eventually attract new businesses.

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IntegraClick bought this new office building from Michigan-based Burton-Katzman for about half the price it would have fetched during the boom. <a href=

Right Buy, Right Time

The fifth fastest growing company in the nation bought new office property on the Gulf Coast for a steal.

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Rod Millington Ron Allen, left, and John McKay, longtime business partners in commercial real estate projects in Sarasota and Bradenton, have formed a new business. The firm, Riverside Real Estate Co., is designed to work with banks on commercial real estate workouts, receiverships and bankruptcy trustee issues.

Workout World

A pair of commercial real estate veterans has formed a business born of the recession, to help banks and landlords navigate the miserable market. It could be a big business.

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Developer Kenneth Saundry Jr. started a court-appointed receiver business while he waits out the real estate downturn.

Open receiver

Developer Kenneth Saundry Jr. spent 31 years in the real estate business in Florida building homes, RV parks, shopping centers and offices. Now, he’s reinvented himself as a court receiver to manage distressed properties.

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Peter Duncan, president and chief executive officer of George Comfort & Sons Inc., stands in the entrance of a lobby at Worldwide Plaza in New York.

Steals for the Patient

George Comfort & Sons bought Manhattan’s Worldwide Plaza for a fraction of its previous price. But it is 40% empty and the city’s market is glutted.

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Celebrity Apprentice appearance is Clockwork
Tampa fund gets $4 million from state
Grim foreclosure headlines attract buyers
Manpower survey: Hiring prospects improve
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Celebrity Apprentice appearance is Clockwork

Sarasota executive Jim Abrams will be one nervous TV watcher May 2.

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Tampa fund gets $4 million from state

Florida’s economic development officials would love to attract a bunch of high profile, high wage, “high-tech jobs” to the state. But oftentimes, their effort to do so ends up more laughable than laudable.

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Grim foreclosure headlines attract buyers

The Cape Coral-Fort Myers area continues to be the foreclosure capital of Florida and the runner-up nationally, according to foreclosure tracker RealtyTrac.

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Manpower survey: Hiring prospects improve

Employers on the Gulf Coast are more optimistic about hiring employees in the second quarter than they were a year ago, a recent survey by Manpower shows.

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Industry hangs tough despite economic woes

A meeting made up of executives in an industry that depends partially on a low unemployment rate might be reason to bring out the gallows humor and woe-is-us chatter.

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