Tallahassee, Florida - Caryl Pierce - 1844 Capital Medical Court

Tallahassee, Florida – October 30, 2020 – NAI TALCOR, a member of the world’s premier managed network of commercial real estate firms, announced today that Caryl Pierce, a member of our Tallahassee brokerage team, is representing the sale of 1.57 acres of commercial land. Located at 1844 Capital Medical Court, this cul de sac property is priced at $299,000.

 

“This is one of the last few commercially zoned properties off Capital Circle and Capital Medical Boulevard,” Caryl Pierce said. “It has a park-like setting, very peaceful and private, and is ready for you to build your office and walk to Capital Regional Medical Center.”

 

For more information contact Caryl Pierce at caryl@talcor.com or by phone at 850-509-3602.

ABOUT NAI TALCOR

With 70 team members including 30 licensed commercial sales advisors, NAI TALCOR is the leader in the North Florida, South Georgia and South Alabama markets. NAI TALCOR is a full service commercial real estate brokerage, property management, development and construction management firm. Providing commercial real estate services since 1990, NAI TALCOR has steadily grown by meeting client needs and partnering with others to promote mutual growth and prosperity in all aspects of commercial property ownership.

NAI TALCOR clients receive global reach with local expertise, a truly distinct advantage in commercial real estate services. Whether real estate requirements are in one market or many, we help our clients understand the market, acquire, dispose of, develop or manage their property with ease.  

NAI TALCOR provides comprehensive brokerage, leasing, property management, receivership services, and facility/construction management to the North Florida, South Georgia and South Alabama commercial real estate marketplace. Our collaborative services platform is an expansive, yet nimble, responsive structure which enables efficient, full services delivery of all elements of Commercial Real Estate Services to the region. NAI TALCOR is involved with the leasing, selling, and property management throughout North Florida, South Georgia and South Alabama. Our skilled professional specialize in office, retail, multi-family, special-purpose, medical, and other properties.

ABOUT NAI GLOBAL

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world. Whether you need to buy, sell, lease, finance, or manage commercial property in your town, across the U.S. or in Asia, Europe, Latin America, and beyond, your nearby NAI Global local office is your local point of entry into a world of creative solutions in commercial real estate.

Exceptional global commercial real estate solutions begin with local market leadership and expertise. NAI Global offices are respected local-market roles models that are passionate about the commercial real estate business. With long histories of success across market cycles, NAI Global offices have a hard-earned, unusually deep level of local market knowledge and insight beyond the commoditized data you find elsewhere. This depth of knowledge is borne from their local relationships nurtured for generations-relationships that give our local-market leading offices the edge with the know-how, who, what, where, and when to achieve exceptional results for clients.

As an organization, NAI Global actively manages this industry-leading platform of local market knowledge and leadership, providing support and services that yield seamless integration and the consistent delivery of exceptional services to clients worldwide.

To learn more, visit www.TALCOR.com or www.naiglobal.com

3 Reasons Student Housing Has Proven Resilient - October, 2020

 

3 REASONS STUDENT HOUSING HAS
PROVED RESILIENT

Tallahassee, Florida – October 30, 2020 –Despite all odds, commercial real estate’s student housing sector is faring quite well in these difficult times.

As a result of the pandemic, many schools and colleges all over the country canceled in-person classes and transitioned into an e-learning model until further notice. Campus amenities are closed, classes took place over Zoom calls, and dormitories closed to mitigate the potential transmission of the coronavirus.

Florida State University (FSU) will not be holding any face-to-face classes after their Thanksgiving break and student housing will opened by “a decreased density and with new policies and procedures.” Florida Agricultural and Mechanical University (FAMU) has implemented a hybrid approach for the fall semester with classroom capacity reduced by 55% - 75% and has decreased University Housing by 69% by “converting all double rooms to a single room in our residence halls for the 2020-2021 academic year.”

For all of these new protocols, there’s no end in sight as the entire country is suspended in a state of uncertainty regarding how to move forward.

It may seem like the investment aspect of this situation is bleak - and it is, but only for the colleges themselves.

INDEPENDENT STUDENT HOUSING THRIVES
Meanwhile, off-campus housing options are picking up the slack and doing well, all things considered. Privately-owned student housing communities are providing students with a safe, secure environment to call home while they weather out the storm and adapt to the ‘new normals’ of college life. 

The pandemic doesn’t seem to have slowed down Tallahassee’s off-campus student housing. Urban Enclave and Stadium Enclave are local student communities that Pete Gonzalez of NAI TALCOR Tallahassee team helped assemble by securing more than 50 parcels to create. The housing communities are nestled closely to both FSU Campus as well as Doak Campbell Stadium. The team there has implemented CDC protocol and follows local health guidelines to keep residents safe, yet still finds ways to safely engage and entertain them. Enclave is also still actively leasing for next year to ensure continued income for its owners.

Investors can benefit from checking out the student housing industry. This commercial arena is flexing its muscles as it outdoes expectations during the pandemic.

“It’s been great working with the owners from Enclave,” Pete Gonzalez said. “They have had a lot of success, even in the downturn of Covid-19 and its effects on the Tallahassee student housing market.”

SCHOOL’S CLOSED, BUT STUDENTS REMAIN
At first glance, it’s easy to see why most people would assume that student housing would be failing right now.

School is closed and college-owned dorms are vacant. Those country-wide trends seem to paint a negative picture for university culture, but don’t be too quick to lump CRE’s student housing in there, too.

The student housing sector is an unaffiliated, privately-owned investment arena that tends to university communities. That said, if students aren’t in dorms, many are being funneled into student housing spaces, instead.

University student bodies did not disappear, they’ve just moved off of the college campus grounds. As the competing options disappear, this migration is fueling tenant retention and demand for CRE’s student housing playing field.

PRESSURES AGAINST E-LEARNING
Within university communities, there is a significant amount of dissent regarding online classes. Students and teachers alike are not fully satisfied with the newly introduced university paradigm. In fact, many students are putting their degrees on hold as they wait for class to be in session once again.

Even if e-learning becomes more popular down the line, it’s not likely that in-person classes will cease when it’s finally safe. E-learning isn’t a forever trend, and when college does open grounds again, there will be a huge wave towards the student housing market.

College-centered markets won’t collapse and students will need closeby places to live. Student-centric living will be sought after to provide a safe, secure, and healthy living space for college students moving forward.

INITIAL DATA PROVES STRENGTH
Over the past few months, student housing has been performing better than many other rental industries in the country.

In April, a significant amount of student-housing property owners reported positive ROI outcomes. While only 84% of multifamily tenants paid rent in April, 91% of student housing tenants paid in full. Rent collection has been solid and it’s strengthening the outlook for this facet of investing.

Don’t ignore the potential of student housing investments in the post-pandemic world.

ABOUT NAI TALCOR

With 70 team members including 30 licensed commercial sales advisors, NAI TALCOR is the leader in the North Florida, South Georgia and South Alabama markets. NAI TALCOR is a full service commercial real estate brokerage, property management, development and construction management firm. Providing commercial real estate services since 1990, NAI TALCOR has steadily grown by meeting client needs and partnering with others to promote mutual growth and prosperity in all aspects of commercial property ownership.

NAI TALCOR clients receive global reach with local expertise, a truly distinct advantage in commercial real estate services. Whether real estate requirements are in one market or many, we help our clients understand the market, acquire, dispose of, develop or manage their property with ease.  

NAI TALCOR provides comprehensive brokerage, leasing, property management, receivership services, and facility/construction management to the North Florida, South Georgia and South Alabama commercial real estate marketplace. Our collaborative services platform is an expansive, yet nimble, responsive structure which enables efficient, full services delivery of all elements of Commercial Real Estate Services to the region. NAI TALCOR is involved with the leasing, selling, and property management throughout North Florida, South Georgia and South Alabama. Our skilled professional specialize in office, retail, multi-family, special-purpose, medical, and other properties.

ABOUT NAI GLOBAL

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world. Whether you need to buy, sell, lease, finance, or manage commercial property in your town, across the U.S. or in Asia, Europe, Latin America, and beyond, your nearby NAI Global local office is your local point of entry into a world of creative solutions in commercial real estate.

Exceptional global commercial real estate solutions begin with local market leadership and expertise. NAI Global offices are respected local-market roles models that are passionate about the commercial real estate business. With long histories of success across market cycles, NAI Global offices have a hard-earned, unusually deep level of local market knowledge and insight beyond the commoditized data you find elsewhere. This depth of knowledge is borne from their local relationships nurtured for generations-relationships that give our local-market leading offices the edge with the know-how, who, what, where, and when to achieve exceptional results for clients.

As an organization, NAI Global actively manages this industry-leading platform of local market knowledge and leadership, providing support and services that yield seamless integration and the consistent delivery of exceptional services to clients worldwide.

To learn more, visit www.TALCOR.com or www.naiglobal.com

Cairo, Georgia - Brian Proctor - 156 Horse Creek Road

 Cairo, Georgia – October 28, 2020 – NAI TALCOR, a member of the world’s premier managed network of commercial real estate firms, announced today that Brian Proctor, a member of our Tallahassee brokerage team, negotiated the sale of 52.2 acres of land, representing the seller. Located at 156 Horse Creek Road, this property is ideal for recreational usage.

“This beautiful plantation style property is surrounded by large tracts of land offering plenty of deer and turkey ranging,” Brian Proctor said. “There’s also a fish pond loaded with fish and wood ducks. The couple that purchased this land is sure to have loads of outdoor fun for years to come.”

For more information about your commercial real estate needs, please contact Brian Proctor at (850) 599-5963 or email at brian@talcor.com.

ABOUT NAI TALCOR

With 70 team members including 30 licensed commercial sales advisors, NAI TALCOR is the leader in the North Florida, South Georgia and South Alabama markets. NAI TALCOR is a full service commercial real estate brokerage, property management, development and construction management firm. Providing commercial real estate services since 1990, NAI TALCOR has steadily grown by meeting client needs and partnering with others to promote mutual growth and prosperity in all aspects of commercial property ownership.

NAI TALCOR clients receive global reach with local expertise, a truly distinct advantage in commercial real estate services. Whether real estate requirements are in one market or many, we help our clients understand the market, acquire, dispose of, develop or manage their property with ease.  

NAI TALCOR provides comprehensive brokerage, leasing, property management, receivership services, and facility/construction management to the North Florida, South Georgia and South Alabama commercial real estate marketplace. Our collaborative services platform is an expansive, yet nimble, responsive structure which enables efficient, full services delivery of all elements of Commercial Real Estate Services to the region. NAI TALCOR is involved with the leasing, selling, and property management throughout North Florida, South Georgia and South Alabama. Our skilled professional specialize in office, retail, multi-family, special-purpose, medical, and other properties.

ABOUT NAI GLOBAL

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world. Whether you need to buy, sell, lease, finance, or manage commercial property in your town, across the U.S. or in Asia, Europe, Latin America, and beyond, your nearby NAI Global local office is your local point of entry into a world of creative solutions in commercial real estate.

Exceptional global commercial real estate solutions begin with local market leadership and expertise. NAI Global offices are respected local-market roles models that are passionate about the commercial real estate business. With long histories of success across market cycles, NAI Global offices have a hard-earned, unusually deep level of local market knowledge and insight beyond the commoditized data you find elsewhere. This depth of knowledge is borne from their local relationships nurtured for generations-relationships that give our local-market leading offices the edge with the know-how, who, what, where, and when to achieve exceptional results for clients.

As an organization, NAI Global actively manages this industry-leading platform of local market knowledge and leadership, providing support and services that yield seamless integration and the consistent delivery of exceptional services to clients worldwide.

To learn more, visit www.TALCOR.com or www.naiglobal.com

Uber Spends $2.56 Billon for Food Delivery Service - October, 2020

 

Uber Spends 2.65 Billion to Acquire
Top Food Delivery Service, Postmates

Tallahassee, Florida – October 23, 2020 – In 2020, delivery services are thriving – especially food-based options. The demand for outsourced meal delivery solutions surged as the coronavirus pandemic shut down indoor and outdoor dining and stay-at-home orders urged people to opt for to-go options.

 

UberEats, Postmates, GrubHub, DoorDash, and other services stood as staples during the pandemic. Yet with users depending on their favorite services now more than ever before, the market is getting smaller as companies collide.

 

Uber recently announced a $2.65 billion deal to purchase Postmates. This acquisition marks the largest merger for the food delivery industry at a time when the business is booming.

 

Tallahassee, Florida also felt the Covid-19 restraints on food availability. During the Covid-19 peak, NAI TALCOR utilized their social media platforms in an effort to spotlight local restaurants and their to-go accessibility. NAI TALCOR created “When in Doubt, Take Out!” An online compilation of a number of eateries, this list included restaurants’ specials and what delivery options they offered. BiteSquad, DoorDash, and ChowNow were just some of the more popular options at that time and allowed restaurants to reach cautious customers. With the help of food delivery services many local favorites were able to continue serving their local customers.

“We love helping our community,” Frank Langston, CCIM, NAI TALCOR Principal. “Getting the word out for these local favorites was a small service that we were happy to be a part of.”

If you haven’t been doing so already, here’s why you need to be watching the food delivery sector. 

The Value in Food Delivery

In the past, not every restaurant was compatible with food delivery services. Only a select few in every community were operational with these convenience-based order pick-up options.

However, the tables have turned during the pandemic as food delivery services became a necessity for restaurants to stay alive.

In the post-COVID world of business, this integration no longer stands as a commodity, luxury, or option - it’s a must. Even 5-star restaurants are fulfilling orders through services like UberEats, which before was unheard of.

Stats collected in the past few unprecedented months showcase the importance of third-party delivery apps. A small local restaurant reported that, before the coronavirus, it only saw about 20% of its orders being made through food delivery services. But, during the pandemic, a whopping 75% of orders are coming from these same apps.

For restaurants as a whole, 92% of traffic is now off-premise, while the average online order is 23% larger than in-person checks.

Consumers are concentrating their spending on these services right now, and it doesn’t seem like things are set to slow down anytime soon. In order to stay afloat and keep the orders coming, restaurants are linking up with third-party delivery service providers.

The future of the restaurant industry looks like it lies in the hands of delivery apps. 

Keeping Up with Competitors

Even restaurants with their own delivery services are being forced to transition into the world of third-party delivery apps.

In today’s business atmosphere, restaurants that are not listed on delivery apps risk being overstepped by competitors. As customers stay at home and don’t know who’s open, it seems like an eatery’s delivery-app presence is their primary presence.

All About Trust

In a climate like this one, it’s not surprising that restaurant customers are choosing app-powered delivery services rather than the in-house model. This extreme funneling of business all boils down to trust.

With these tech-powered apps, consumers are able to track their orders from the kitchen to their door. They’ve already used these services in the past - and even if they haven’t, they surely know someone who has. These businesses are socially established and in good favor with consumers, so it’s no wonder why they’re beating any other alternative.

This monopoly on the restaurant scene is gaining momentum with the recent merger between Uber and Postmates. Be sure to keep an eye on this service industry as it’s set up for success in the future.

ABOUT NAI TALCOR

With 70 team members including 30 licensed commercial sales advisors, NAI TALCOR is the leader in the North Florida, South Georgia and South Alabama markets. NAI TALCOR is a full service commercial real estate brokerage, property management, development and construction management firm. Providing commercial real estate services since 1990, NAI TALCOR has steadily grown by meeting client needs and partnering with others to promote mutual growth and prosperity in all aspects of commercial property ownership.

NAI TALCOR clients receive global reach with local expertise, a truly distinct advantage in commercial real estate services. Whether real estate requirements are in one market or many, we help our clients understand the market, acquire, dispose of, develop or manage their property with ease.  

NAI TALCOR provides comprehensive brokerage, leasing, property management, receivership services, and facility/construction management to the North Florida, South Georgia and South Alabama commercial real estate marketplace. Our collaborative services platform is an expansive, yet nimble, responsive structure which enables efficient, full services delivery of all elements of Commercial Real Estate Services to the region. NAI TALCOR is involved with the leasing, selling, and property management throughout North Florida, South Georgia and South Alabama. Our skilled professional specialize in office, retail, multi-family, special-purpose, medical, and other properties.

ABOUT NAI GLOBAL

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world. Whether you need to buy, sell, lease, finance, or manage commercial property in your town, across the U.S. or in Asia, Europe, Latin America, and beyond, your nearby NAI Global local office is your local point of entry into a world of creative solutions in commercial real estate.

Exceptional global commercial real estate solutions begin with local market leadership and expertise. NAI Global offices are respected local-market roles models that are passionate about the commercial real estate business. With long histories of success across market cycles, NAI Global offices have a hard-earned, unusually deep level of local market knowledge and insight beyond the commoditized data you find elsewhere. This depth of knowledge is borne from their local relationships nurtured for generations-relationships that give our local-market leading offices the edge with the know-how, who, what, where, and when to achieve exceptional results for clients.

As an organization, NAI Global actively manages this industry-leading platform of local market knowledge and leadership, providing support and services that yield seamless integration and the consistent delivery of exceptional services to clients worldwide.

To learn more, visit www.TALCOR.com or www.naiglobal.com

West Palm Beach, FL - Fletcher Dilmore - 2881 N. Military Trail

 

West Palm Beach, Florida – October 21, 2020 – NAI TALCOR, a member of the world’s premier managed network of commercial real estate firms, announced today that Fletcher Dilmore, a member of our Tallahassee brokerage team, and Rick Locchead, a member of Caldwell Banker NRT in Pensacola, FL, negotiated the lease of a free-standing retail property, representing the tenant, VidaCann. Located at 2881 N. Military Trail, West Palm Beach, FL, this 3,277 square-foot property is a former Bank of America branch that is being converted into a Medical Marijuana Dispensary.

“This is the 24th site we’ve secured for VidaCann and the first ‘drive-thru’ dispensary in the state for us,” Dilmore said. “This is also one of – if the not the first – dispensary located in a Publix shopping center. VidaCann has planned for future expansion throughout the state. We encourage anyone interested in having VidaCann as a tenant to reach out to me directly.”


For more information about your commercial real estate needs, please call Fletcher Dilmore at (850) 326-1463 or email fletcher@talcor.com.

ABOUT NAI TALCOR

With 70 team members including 30 licensed commercial sales advisors, NAI TALCOR is the leader in the North Florida, South Georgia and South Alabama markets. NAI TALCOR is a full service commercial real estate brokerage, property management, development and construction management firm. Providing commercial real estate services since 1990, NAI TALCOR has steadily grown by meeting client needs and partnering with others to promote mutual growth and prosperity in all aspects of commercial property ownership.

NAI TALCOR clients receive global reach with local expertise, a truly distinct advantage in commercial real estate services. Whether real estate requirements are in one market or many, we help our clients understand the market, acquire, dispose of, develop or manage their property with ease.  

NAI TALCOR provides comprehensive brokerage, leasing, property management, receivership services, and facility/construction management to the North Florida, South Georgia and South Alabama commercial real estate marketplace. Our collaborative services platform is an expansive, yet nimble, responsive structure which enables efficient, full services delivery of all elements of Commercial Real Estate Services to the region. NAI TALCOR is involved with the leasing, selling, and property management throughout North Florida, South Georgia and South Alabama. Our skilled professional specialize in office, retail, multi-family, special-purpose, medical, and other properties.

ABOUT NAI GLOBAL

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world. Whether you need to buy, sell, lease, finance, or manage commercial property in your town, across the U.S. or in Asia, Europe, Latin America, and beyond, your nearby NAI Global local office is your local point of entry into a world of creative solutions in commercial real estate.

Exceptional global commercial real estate solutions begin with local market leadership and expertise. NAI Global offices are respected local-market roles models that are passionate about the commercial real estate business. With long histories of success across market cycles, NAI Global offices have a hard-earned, unusually deep level of local market knowledge and insight beyond the commoditized data you find elsewhere. This depth of knowledge is borne from their local relationships nurtured for generations-relationships that give our local-market leading offices the edge with the know-how, who, what, where, and when to achieve exceptional results for clients.

As an organization, NAI Global actively manages this industry-leading platform of local market knowledge and leadership, providing support and services that yield seamless integration and the consistent delivery of exceptional services to clients worldwide.

To learn more, visit www.TALCOR.com or www.naiglobal.com

Is Housing the Next Play for Vacant Malls? - October, 2020

Is Housing the Next Play for Vacant Malls?

Tallahassee, Florida – October 16, 2020 –Long live the American mall. These dreamy retail hubs were once bustling scenes of activity, fun, and commerce. If you needed to shop, you went to the nearest mall. There was no question, no contest, and no real competitors. The mall was the golden child of the US retail footprint.

Today’s mall scene has turned bleak as brick and mortar retail has fallen to the wayside in light of e-commerce. An already high vacancy rate of malls has now reached its highest point in 2 decades this year. Due to the Covid-19 pandemic’s massive disruption to physical retail, malls have seen even more closures.

In the past, there has been a lot of talk about the future of vacant mall spaces. From schools to mixed-use centers, the options were at the forefront of CRE retail analyst’s forecasts.

Earlier this year, NAI TALCOR showcased such an example with John McNeill’s transformation of the Centre of Tallahassee (formally the Tallahassee Mall). The Center of Tallahassee currently houses 2 state departments, the Department of Health and the Department of State. The third state department joining them, Department of Children and Family, is scheduled to move in their first phase next month with the balance in Q1 2021. In addition to the 415,000 SF these 3 departments occupy, well known retailers like Barnes and Noble, Cold Stone Creamery, Ross Dress for Less and Guitar Center make up the remaining square-footage of this 900,000+ SF property.

Nowadays, affordable housing is in high demand, and the new move for malls may be decided.

The massive square-footage currently occupied by dying mall spaces could be reconfigured to give a fresh spin on commercial real estate. NAI TALCOR has been on the forefront of urban development. With two of the three Tallahassee malls no longer traditional spaces (Center of Tallahassee and Northwood Mall), NAI TALCOR looks to Governor’s Square Mall as the retail climate continues to evolve changes.  

A NEW FUTURE FOR MALL SPACES
Housing is being examined as the next possible phase for mall CRE. The U.S government recently went public with their prospective plans to convert retail spaces into residential communities. Transitioning empty storefronts into micro-apartments would flood supply into metropolitan markets, helping to ease the housing shortages plaguing cities all around the country.

In essence, mall spaces would be transformed into multifamily communities. In many cases, these would become mixed-use developments that blend retail, office, and living spaces all in one set up. 

After a few alterations to the physical space, failing malls could easily be retrofitted into attractive housing options.

IS HOUSING THE RIGHT MOVE?
There are so many options for the future of empty malls - is housing really the best bet? 

Despite all of the potentials, housing is an imminent need, and malls are inherently built with many of the in-demand resources that housing developers are looking for.

By their very nature, malls do make strong prospects for multifamily projects. Malls are located in centralized areas that are geared around attracting traffic and remaining accessible. In order to accommodate changing tenants, the units are easy to renovate. Malls are also built around public transit options, making transportation a key benefit of these locations. 

It’s impossible to deny the fact that malls hold immense promise in creating community hubs for living and working.

PAVING THE WAY
In light of the market’s hesitant response to converting malls into communities, a few brave players have already made headway into this trend. By taking the first steps, they’re providing a model for the industry to gauge the reality of these transformational projects. 

Keep an eye on the progress of this trend to stay ahead of the curve - it may be one of the biggest areas of opportunity for CRE into 2021 and beyond. 

 

ABOUT NAI TALCOR

With 70 team members including 30 licensed commercial sales advisors, NAI TALCOR is the leader in the North Florida, South Georgia and South Alabama markets. NAI TALCOR is a full service commercial real estate brokerage, property management, development and construction management firm. Providing commercial real estate services since 1990, NAI TALCOR has steadily grown by meeting client needs and partnering with others to promote mutual growth and prosperity in all aspects of commercial property ownership.

NAI TALCOR clients receive global reach with local expertise, a truly distinct advantage in commercial real estate services. Whether real estate requirements are in one market or many, we help our clients understand the market, acquire, dispose of, develop or manage their property with ease.  

NAI TALCOR provides comprehensive brokerage, leasing, property management, receivership services, and facility/construction management to the North Florida, South Georgia and South Alabama commercial real estate marketplace. Our collaborative services platform is an expansive, yet nimble, responsive structure which enables efficient, full services delivery of all elements of Commercial Real Estate Services to the region. NAI TALCOR is involved with the leasing, selling, and property management throughout North Florida, South Georgia and South Alabama. Our skilled professional specialize in office, retail, multi-family, special-purpose, medical, and other properties.

ABOUT NAI GLOBAL

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world. Whether you need to buy, sell, lease, finance, or manage commercial property in your town, across the U.S. or in Asia, Europe, Latin America, and beyond, your nearby NAI Global local office is your local point of entry into a world of creative solutions in commercial real estate.

Exceptional global commercial real estate solutions begin with local market leadership and expertise. NAI Global offices are respected local-market roles models that are passionate about the commercial real estate business. With long histories of success across market cycles, NAI Global offices have a hard-earned, unusually deep level of local market knowledge and insight beyond the commoditized data you find elsewhere. This depth of knowledge is borne from their local relationships nurtured for generations-relationships that give our local-market leading offices the edge with the know-how, who, what, where, and when to achieve exceptional results for clients.

As an organization, NAI Global actively manages this industry-leading platform of local market knowledge and leadership, providing support and services that yield seamless integration and the consistent delivery of exceptional services to clients worldwide.

To learn more, visit www.TALCOR.com or www.naiglobal.com

Why We're Watching the Self Storage Space - October, 2020

  

TALLASSEE’S DEMAND FOR SELF-STORAGE
INCREASES ITS LOCAL HOLD

 

Tallahassee, Florida – October 9, 2020 – The self-storage sector has immense promise for commercial real estate. In 2019, the Florida vacancy rate for self-storage was only 9.9% and was projected to only climb to 10.0% in 2020. Florida currently has approximately 2,602 self-storage units totaling approximately 124 million square-feet. Tallahassee, Leon County, consumes 37 of those properties totaling approximately 2.5 million square feet.

 

With such low average vacancies, the need for additional units will only continue to rise. These self-storage spaces are resilient, in high demand, and fit seamlessly into the needs of contemporary society. As people become more transient and hold off on purchasing a home, storage space becomes a necessity - and the proof is in the numbers. In addition, self-storage provides square-foot strapped dwellers the chance to hold onto their belongings without having an over-crowded home.

 

NAI TALCOR predicts that storage space will increase in the metro market with a boom in millennials starting to become first time buyers. With their older relatives eager to pass down family heirlooms, these items will likely end up in a storage unit as these are typically not the type of items this generation will decorate their dwellings with.

 

“I think Tallahassee is going to see a large increase in these types of self-contained, temperature-controlled storage units,” Ed Murray Jr., Principal said. “There are already popping up in other larger markets and will be here in 2021.”

 

Evidently, self-storage units are attending to today’s pain points while pushing forward in the commercial scene. The expansion and success of domestic self-storage spaces have been attracting the attention of commercial real estate professionals and investors all over the globe.

 

Our eyes are on self-storage, and yours should be, too. Here’s what to look out for in the self-storage space right now:

 

HELPING HOMES NAVIGATE COVID

As the coronavirus pandemic ushered in unanticipated changes to life as we know it, self-storage played a surprising role in supporting households and families during these turbulent times.

 

The economy shook, unemployment rates crept higher and higher, and people were fleeing from high-risk areas to stay with family members in less-affected regions. Not everyone lives in a mansion, and many households around the country needed to suddenly adjust to new rates of occupancy.

 

In order to make room for these last-minute move-ins, self-storage units were a savior for households struggling to make accommodations work. Unnecessary furniture, clutter, and non-essential items taking up too much space could be temporarily moved into self-storage units for the time being.

 

IMPACTS FROM WFH TREND

Market closures moved everything into the household. School, work, and everything in between are now operating from home-base… but how does that all fit in?

 

Flexibility and creativity were needed to turn those extra rooms in the house into personal offices or one-person classrooms. These disruptions won’t last forever, and self-storage provided the option of making a smooth transition between market closure and reopening. That extra furniture could be moved out of the house and moved back in - all without missing a beat.

 

TECH INTEGRATIONS AND REMOTE ORGANIZATION

Although self-storage has been in a comfortable place, this industry hasn’t been idle. These spaces have been adopting a robust tech-powered infrastructure to facilitate a streamlined, modern, and digitally-driven operational flow.

 

This web of tech enabled the self-storage industry to quickly pivot according to the pandemic’s social-distancing protocols with remote integration. Self-storage provides a safe and contactless option for tenants looking to rent a space during the COVID-era and beyond.

 

READY TO RIDE OUT THE STORM

The coronavirus proved that self-storage offers an indispensable value for communities.

In both good times and bad, self-storage spaces provide key value for local commercial real estate markets. These investments are resilient. Economic downturns make self-storage even more vital as people are forced to relocate. On the other hand, bustling economies take advantage of the extra space.

In every situation, self-storage supports people in times of change - whether it’s a planned move or a sudden disaster, self-storage spaces are a must. CRE professionals, keep an eye on self-storage. It’s an industry ripe for expansion and success. 

ABOUT NAI TALCOR

With 70 team members including 30 licensed commercial sales advisors, NAI TALCOR is the leader in the North Florida, South Georgia and South Alabama markets. NAI TALCOR is a full service commercial real estate brokerage, property management, development and construction management firm. Providing commercial real estate services since 1990, NAI TALCOR has steadily grown by meeting client needs and partnering with others to promote mutual growth and prosperity in all aspects of commercial property ownership.

NAI TALCOR clients receive global reach with local expertise, a truly distinct advantage in commercial real estate services. Whether real estate requirements are in one market or many, we help our clients understand the market, acquire, dispose of, develop or manage their property with ease.  

NAI TALCOR provides comprehensive brokerage, leasing, property management, receivership services, and facility/construction management to the North Florida, South Georgia and South Alabama commercial real estate marketplace. Our collaborative services platform is an expansive, yet nimble, responsive structure which enables efficient, full services delivery of all elements of Commercial Real Estate Services to the region. NAI TALCOR is involved with the leasing, selling, and property management throughout North Florida, South Georgia and South Alabama. Our skilled professional specialize in office, retail, multi-family, special-purpose, medical, and other properties.

ABOUT NAI GLOBAL

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world. Whether you need to buy, sell, lease, finance, or manage commercial property in your town, across the U.S. or in Asia, Europe, Latin America, and beyond, your nearby NAI Global local office is your local point of entry into a world of creative solutions in commercial real estate.

Exceptional global commercial real estate solutions begin with local market leadership and expertise. NAI Global offices are respected local-market roles models that are passionate about the commercial real estate business. With long histories of success across market cycles, NAI Global offices have a hard-earned, unusually deep level of local market knowledge and insight beyond the commoditized data you find elsewhere. This depth of knowledge is borne from their local relationships nurtured for generations-relationships that give our local-market leading offices the edge with the know-how, who, what, where, and when to achieve exceptional results for clients.

As an organization, NAI Global actively manages this industry-leading platform of local market knowledge and leadership, providing support and services that yield seamless integration and the consistent delivery of exceptional services to clients worldwide.

To learn more, visit www.TALCOR.com or www.naiglobal.com

Tallahassee, FL - Slaton Murray - 1541 Pine Street

 

Tallahassee, Florida – October 12, 2020 – NAI TALCOR, a member of the world’s premier managed network of commercial real estate firms, announced today that Slaton Murray, a member of our Tallahassee brokerage team, has placed a 2,083 square-foot single-family townhome under contract. Property is located at 1541 Pine Street in the highly coveted Midtown neighborhood adjacent to the Whole Foods Shopping Complex. 5 townhomes remaining for purchase priced at $425,000 each; call today to schedule a tour!

For more information regarding your real estate needs, please call Slaton Murray at (850) 224-2300 or email slaton@talcor.com

 

ABOUT NAI TALCOR

With 70 team members including 30 licensed commercial sales advisors, NAI TALCOR is the leader in the North Florida, South Georgia and South Alabama markets. NAI TALCOR is a full service commercial real estate brokerage, property management, development and construction management firm. Providing commercial real estate services since 1990, NAI TALCOR has steadily grown by meeting client needs and partnering with others to promote mutual growth and prosperity in all aspects of commercial property ownership.

NAI TALCOR clients receive global reach with local expertise, a truly distinct advantage in commercial real estate services. Whether real estate requirements are in one market or many, we help our clients understand the market, acquire, dispose of, develop or manage their property with ease.  

NAI TALCOR provides comprehensive brokerage, leasing, property management, receivership services, and facility/construction management to the North Florida, South Georgia and South Alabama commercial real estate marketplace. Our collaborative services platform is an expansive, yet nimble, responsive structure which enables efficient, full services delivery of all elements of Commercial Real Estate Services to the region. NAI TALCOR is involved with the leasing, selling, and property management throughout North Florida, South Georgia and South Alabama. Our skilled professional specialize in office, retail, multi-family, special-purpose, medical, and other properties.

ABOUT NAI GLOBAL

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world. Whether you need to buy, sell, lease, finance, or manage commercial property in your town, across the U.S. or in Asia, Europe, Latin America, and beyond, your nearby NAI Global local office is your local point of entry into a world of creative solutions in commercial real estate.

Exceptional global commercial real estate solutions begin with local market leadership and expertise. NAI Global offices are respected local-market roles models that are passionate about the commercial real estate business. With long histories of success across market cycles, NAI Global offices have a hard-earned, unusually deep level of local market knowledge and insight beyond the commoditized data you find elsewhere. This depth of knowledge is borne from their local relationships nurtured for generations-relationships that give our local-market leading offices the edge with the know-how, who, what, where, and when to achieve exceptional results for clients.

As an organization, NAI Global actively manages this industry-leading platform of local market knowledge and leadership, providing support and services that yield seamless integration and the consistent delivery of exceptional services to clients worldwide.

To learn more, visit www.TALCOR.com or www.naiglobal.com