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

Tallahassee, FL - Jimmy Nystrom, SIOR, and Kat Butler - 323 John Knox Road

LARGE OFFICE INVESTMENT PORTFOLIO SELLS IN TALLAHASSEE

Tallahassee, Florida [October 9, 2020] – NAI TALCOR, a member of the world’s premier managed network of commercial real estate firms, announced today that Jimmy Nystrom, SIOR, and Kat Butler, members of our Tallahassee brokerage team, negotiated the sale of 4 office buildings located in the Woodcrest Office Park. This sell marks a large investment sale in the middle of a pandemic for the Tallahassee office commercial real estate market.

Located just minutes from the State Capitol, the four properties sold in the investment portfolio totaled 94,164 square-feet. The properties include The Atrium, located at 323 John Knox Road and centrally located within Tallahassee’s MSA. The building is currently 98% occupied with over 55,645 rentable square feet. It is home to the State Department of Financial Services, the State Fire Marshall office, Intuition Systems, Inc, and others tenants. The portfolio also included buildings C, D, and E making up the difference of the large investment selling at $8.3 million dollars.

“The four properties will make a great asset for the buyer” said Jimmy Nystrom, SIOR, Senior Commercial Advisor of NAI TALCOR Commercial Real Estate Services. “We are a strong market and looking forward to overcoming the current market conditions with COVID being a large factor.”

The Atrium has been exceptionally well-maintained with over $1.7 million in capital improvements made in recent years. Bathrooms on 2nd and 3rd floors completed in the last 12 months. Several HVAC units have been replaced in the last 5 years as well. All but one interior space has been updated in the last 24 months.

Next to the Atrium, Buildings C, D and E currently hold an occupancy rate of 88%. With 28,550 square-feet of divisible office spaces, these buildings provide highly coveted small foot-print suites just off the arterial road Monroe Street.

With their updated interior spaces, recently renovated restrooms and high occupancy rates, Woodcrest Office Park, and its assets, are and will continue to be a desirable long-term investment for its undisclosed buyer.

The overall Tallahassee office market is currently at a vacancy rate of 6.0% in the beginning of the fourth quarter of 2020, well below the national average of 10.8%. The Tallahassee Central Business District has a mixed-use project in the Cascades Park area which will add an additional 63,980 feet of office space along with a Hotel and Apartments projected to be completed in Q4 2020. In more rural suburban markets, an additional 20,000 square feet will be added by 2021. Over 200,000 square feet of state offices were relocated from the West Tennessee corridor to the Centre of Tallahassee. The office parks in which these tenants left will likely be redeveloped and repositioned with new ownership in the next three to five years, as they are obsolete office space with little interest from prospective tenants.

Almost as impression as the magnitude of this transaction is the fact that it’s taken place during a global pandemic. Covid-19 has unilaterally impacted a number of markets both national and locally. NAI TALCOR continues to maneuver through COVID 19 and what impact that will have to commercial real estate and our office markets, Tallahassee, the capital of Florida, is the third most populous state in the nation. With a population of 385,000 people, the Tallahassee metropolitan area boasts a diverse economy supported by a business-friendly climate. Tallahassee MSA has the fastest growing economy per capita for any Florida city. Tallahassee maintains a stable economy with significant footprints in the Government Services, Healthcare, Financial Services, and Hospitality sectors. Additionally, Tallahassee is home to two major universities, Florida State University and Florida A&M University, making Education a major demand driver for the region.

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, 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 professionals specialize in office, retail, industrial, land, multi-family, special-purpose, medical, and other properties.

ABOUT JIMMY NYSTROM, CCIM
Jimmy Nystrom is the Director of Leasing and a Senior Advisor at NAI TALCOR. He is a 40 year Tallahassee resident with a unique knowledge of the market. Jimmy specializes in office and retail leasing, tenant representation and office building sales. Currently, Jimmy represents landlords on nearly a million and a half square feet of office and retail space. Jimmy oversees the leasing of approximately 1,120,000 square feet of office space in the Tallahassee market. He works with numerous Landlords to maximize their return on their real estate investment. He also oversees the day to day leasing of over 700,000 square feet of retail space.

Jimmy began his Real Estate career in 1985 with Investors Realty in the commercial division. He remained there until 1990 when TALCOR was formed, being one of the original agents of the company. Jimmy has over 30 years of commercial real estate experience with a concentration in office leasing and sales. He has had the opportunity to represent firms such as SunTrust Banks, AARP, Cambridge Systematics, Xerox, IBM and Merrill Lynch.

ABOUT KAT BUTLER
Kat Butler is a Tallahassee transplant from Nashville, Tennessee that made the move south mid-2018 to be closer to family and the beach. She joined the world of commercial real estate in 2012 starting with a focus in portfolio management. Shortly after getting her real estate sales license she joined Marcus & Millichap as a sales associate specializing in office and retail. As a member of the Nashville Office and Retail team, they successfully closed over 60 investment transactions and evaluated over $1 billion in investment real estate. In 2017 prior to moving to Tallahassee, she was given the opportunity to lead the Nashville Multi-Family Investment Sales team where they closed over $9 million in their first ten months and evaluated over $145 million in multi-family assets across the southeast. Since moving to Tallahassee, Kat has closed over $5 million in commercial real estate and teamed up with senior agents John McNeill and Jimmy Nystrom to help continue grow their portfolios at NAI TALCOR.

Her expertise in investment acquisition/disposition, transaction management, lease interpretation, property marketing, financial auditing and marketplace analysis helps commercial real estate clients of all backgrounds, including landlords, tenants, developers and investors, secure the best opportunity for their commercial real estate needs.

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

Property Inventory - October, 2020 - NAI TALCOR

 

NAI TALCOR Shares October's Commercial 
Real Estate For Sale and For Lease Listings

Tallahassee, Florida – October 6, 2020 - NAI TALCOR, a member of the world’s premier managed network of commercial real estate firms, is pleased to share our OCTOBER 2020 property inventory report. Staffed with the most experience professionals, NAI TALCOR can assist with purchasing, selling, leasing, managing properties, or offering our expert advice.

CLICK HERE to view the OCTOBER 2020 Inventory Report

 

COMMERCIAL REAL ESTATE

Our process is different. NAI TALCOR professionals live and breathe our market of commercial real estate. We are connected to the community both by business and philanthropic support. Our clients know that we treat their business like it is our own.

 

NAI TALCOR is a leader in the North Florida, South Georgia, and South Alabama markets. NAI TALCOR is a full-service commercial real estate brokerage firm spanning 30+ years’ experience of meeting our clients’ needs and partnering with others to promote mutual growth.

 

PROPERTY MANAGEMENT

NAI TALCOR is locally owned and operated. Managing over 5 million square feet of space, we are your hands and eyes at the ground level of your asset. With 24 hour, 7 days a week maintenance, staff, and service, let us manage your building so you can manage your business.

 

MARKETING SERVICES

NAI TALCOR’s in-house advertising and public relations department is one of the many value-added services offered to our clients. This benefit is unique, not just because of our vast knowledge base and expertise, but also our ability to coordinate projects and meet deadlines.

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

4 Ways Solar Power Has Impacted CRE - October, 2020

 

4 Ways Solar Power Has Impacted CRE

Tallahassee, Florida – October 2, 2020 – As the commercial real estate industry strives for a greener future, solar power is making a big impact on the industry’s physical spaces.
 
Environmental concerns have been focused around the commercial arena for years - and it’s no wonder why. On average, commercial properties waste up to 30% of the resources they consume. When you factor in that commercial buildings use up 40% of the nation’s energy consumption, it’s obvious that sustainability initiatives need to collaborate with the commercial real estate business.
 
That is exactly what has played out. The commercial real estate industry is focusing on sustainable operations and development more than ever before. An interest in going green has proved to increase profits, enhance the desirability of a space, and propel a listing into the modern era.
 
With 544 operating solar power companies and a national ranking of 3^rd place by SEIA (Solar Energy Industries Association), the Sunshine State is projected to increase by 8,632 MW of power over the next 5 years. NAI TALCOR strives to be at the forefront of continuing to expand solar power with land sales for solar farms in North Florida.  
 
Here are a few notable ways that solar power has impacted CRE as a whole:

RENEWABLE RESOURCES AS A REALITY
While going green is a trending topic in the commercial scene, there’s still a large gap between where a property is right now and its ultimate sustainable goal. Eco-friendly property alterations are still viewed as extracurricular, and CRE sustainability adoption is often laid out as a plan that extends into the far, far future.
 
But, as solar power becomes more popular, increasingly affordable, and easy to operate, it's allowing CRE to dip it’s toes into sustainability without making a massive dent in budgets, plans, or management.
 
Solar has made renewable energy into a reality for CRE, allowing the biz to test out a green model and experience the benefits for themselves.
 
VACANCY-DRIVEN INSTALLATION TIMELINES
For many buildings, closing for business has allowed for those backed-up renovation projects to finally happen. One positive that’s come out of the recent market closures has been the ability to move forward with solar power installations.
 
Solar panel installations have been pushing forward while everyone’s at home, and despite a few delays, are getting done quicker than anticipated. Right now, many properties that were pending solar accommodations as ‘TBD’ projects are now well underway with this new and exciting method of generating power.
 
CUTTING BACK COSTS
Sustainability is inherently a money-saving move. Wasting resources means wasting money, and the financial aspect of going green is what attracts many investors to make the switch to environmentally friendly strategies.
 
Despite the initial costs associated with set-up and installation, it’s an investment that cuts down the operational costs of a building for years to come. In this way, it completely transforms the financial expenditure of commercial spaces, which can have a significant impact on boosting ROI.
 
Solar power has changed the way commercial buildings produce, store, use, and waste energy. Thanks to solar energy, there’s a feasible alternative to power commercial portfolios without draining investor pockets.
 
Commercial developments that move forward with solar power are setting themselves up for greater returns into the future - breeding a successful and sustainable portfolio. 

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 - Jim Taube, CCIM - 2558 Capital Medical Blvd.

 

Tallahassee, Florida – September 28, 2020 – NAI TALCOR, a member of the world’s premier managed network of commercial real estate firms, announced today that Jim Taube, CCIM, member of our Tallahassee brokerage team, negotiated the lease of a 2,196 square-foot office to Tallahassee Primary Spine Care. Located at 2558 Capital Medical Blvd, this is the new location for Dr. Brian Burnett who has been in Chiropractic practice since 2012.
 
For more information about your commercial real estate needs, please call Jim Taube at (850) 224-2300 or email jtaube@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