News

Developing Leaders hosts social and membership drive

NAIOP of Northeast Florida’s Developing Leaders, the young professional group of the region’s commercial real estate authority and trade association, recently hosted a kick-off social and membership drive at Mitchell’s Fish Market at the St. Johns Town Center. The first sponsored event of the year for the group included drinks, an array of appetizers and the opportunity to hear about plans for the upcoming year. Attendees at the event also had the opportunity to meet the 2012 Developing Leaders council board and network with other young professionals. “NAIOP’s Developing Leaders is an outstanding group of young professionals who will soon be leading the commercial real estate industry, and we truly have a talented, dedicated group here in Northeast Florida,” said Gordon Steadman, 2012 president of NAIOP of Northeast Florida. “The goal of this event was to bring the group together to network as well as kick off our 2012 membership drive, which turned out to be a tremendous success.”
 

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NAIOP Member Social - CoWork Jax

On Thursday, March 22nd we had our 2nd social of the year, which was a huge success.  CoWork Jax sponsored this event at their offices downtown at 5 West Forsyth Steet on the second floor.  The food and spirits were delicious and the networking couldn't have been better.  Members had a great time catching up and enjoying the great office spaces of CoWork Jax. 

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NAIOP OF NORTHEAST FLORIDA 2012 ANNUAL AWARDS & CELEBRATION

NAIOP of Northeast Florida, the region’s commercial real estate authority and trade association, recently announced its annual award winners at the organization’s “Annual Awards & Celebration 2012.” Hosted at the Times-Union Center for Performing Arts, the event drew approximately 200 guests who enjoyed a cocktail reception, award presentation and dinner reception.
“The annual awards celebration is a time to honor the best of the best in commercial real estate around Northeast Florida,” said Gordon Steadman, 2012 NAIOP of Northeast Florida Chapter president. “This year, we had an exceptional group of talented professionals who deserved recognition among their peers for their work in the industry.”

The NAIOP annual award winners for 2011 included

--Office Broker of the Year – Oliver Barakat, CBRE
--Industrial Broker of the Year – Bryan Bartlett, Grubb & Ellis/Phoenix Realty Group
--Emerging Professional of the Year – Joe Ayers, CBRE 
--Chapter Merit Award - Erika Bjork, Colliers International
--Chapter Merit Award - Julie Bohn, Cantrell & Morgan, Inc.
--Chapter Merit Award - Tom Mundy, The Shopping Center Group
--Distinguished Service Award – Wyman Duggan, Rogers Towers Attorneys at Law
--Office Lease of the Year – EverBank, CBRE - Oliver Barakat & Grubb & Ellis - Jim Sebesta & Dana Canto
--Industrial Lease of the Year – IEM, Grubb & Ellis/Phoenix Realty – Aaron Zarle
--Industrial Project of the Year – SAFT America, JEDC
--Redevelopment Project of the Year – Laura Street Enhancement, JEDC
--The Klechak Award – Jim Bailey, Bailey Publishing & Communications
--Lifetime Achievement Award – William G. Evans

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NAIOP Northeast Florida in Tallahassee, FL

On February 21st a contingent from NAIOP went to Tallahassee representing our chapter. We were well received by all State Legislators and Senators within Northeast Florida. All are very receptive to our Policy advisory committee and are looking forward to hearing our findings to streamline regulatory procedures to jumpstart new development within our community. Shown in the photo is Chapter President Gordy Steadman, State board member Jeff Evans and State Senator Audrey Gibson.

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2012 NAIOP Legislative & Leadership Retreat - Washington DC

From Monday, February 6th until Thursday, February 9th, NAIOP Northeast Florida sent a group of members to Washington D.C. for the annual NAIOP of Florida Board of Directors meeting and to meet with our nation’s legislators to discuss issues important to the commercial real estate industry. The following members were on the trip:

--Gordon Steadman, President
--Traci Jenks, President Elect
--Christian Harden, Developing Leaders Chair
--Julie Bohn, Membership Chair
--Carmel Buchanan, Chapter Executive

NAIOP was able to attend meetings with the following Legislators and/or their aides:

--Senator Bill Nelson
--Senator Marco Rubio
--Representative Ander Crenshaw
--Representative Cliff Stearns
--Representative Corinne Brown
--Representive John Mica

All the legislators seemed keen on supporting legislative issues that create a healthy business climate for commercial real estate development in Florida, one of the leading contributors to the domestic economy.

Some of the issues discussed were carried interest, tax extenders and transportation funding.

Carried Interest

--Carried Interest, also known as a "promoted interest" or a "promote" in the real estate industry, is a financial interest in the long-term capital gain of a development given to a general partner by the investors in the partnership.
--Currently taxed as capital gains, proposals to change the tax treatment of carried to ordinary income would result in a dramatic tax increase (from 15 percent to as high as 35 percent) for many real estate development partnerships.
--More importantly, if enacted, such a change would significantly hinder future commercial real estate development activity.
--NAIOP strongly opposes changing the tax treatment of carried interest from capital gains to ordinary income.

Tax Extenders

Numerous business tax provisions that enjoy bipartisan support expired at the end of 2011 when Congress failed to agree on legislation extending the provisions. One of the primary concerns is allowing for 15 year leasehold improvement depreciation.

--Leasehold Improvement Depreciation is the ability to deduct the cost of the customized improvements a building owner makes to a rental space to configure it for a tenant's needs.
--The current 15-year depreciation schedule automatically reverts to a 39-year depreciation schedule.
--Failure to extend 15-year qualified leasehold improvement depreciation will result in higher capital costs for many building owners, creating disincentives to upgrade and modernize the space for their tenants.
--Because the provision is not a permanent part of the tax code but is only addressed annually as part of broad "tax extenders" legislation, Congress is repeatedly forced to address the issue, denying businesses the level of certainty needed for better long-term planning.
--NAIOP supports extending and making permanent 15-year leasehold improvement depreciation, which is in closer alignment with the economic reality of the leasehold improvements' typical lifespan.

Transportation

--NAIOP believes that increasing federal transportation and infrastructure funding is paramount to a thriving real estate industry and national economy.
--The success of commercial real estate projects depends largely on infrastructure investments and viable connectivity strategies that incorporate different modes of transportation, including highways, roads, rail and mass transit.
--Congress needs to enact a new multi-year transportation bill that fully funds our nation's transportation and infrastructure needs. In addition to the passing of a new transportation bill, new innovative funding solutions should be developed to help spur private investment.
--NAIOP supports increased transportation and infrastructure funding, new public-private partnerships, the creation of a national infrastructure bank and new tax incentives that encourage private investments for infrastructure improvements.
 

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NAIOP Member’s Social

On January 26th, over 80 NAIOP members joined together at the sophisticated surrounds of the SUITE in the St. Johns Town Center. Everyone had a great time networking while kicking off the first evening social for 2012.

Dave White - Public Relations Committee Chair
 

Jennifer Carroll: ‘We’re not going to rest on our laurels’ [Daily Record]

by David Chapman, Staff Writer

Gov. Rick Scott will continue to streamline government and reduce bureaucracy and taxes during the legislative session and his second year in office, said Lt. Gov. Jennifer Carroll.

“Now Florida is ranked as the third business friendly state in the nation,” Carroll said. “We’re not going to rest until we are No. 1.”

Carroll was the keynote speaker at NAIOP of Northeast Florida’s meeting Friday, where almost 150 members and guests heard the former local legislator discuss economic growth, commercial spaceports, the Embraer deal and more.

“This legislative session we’re not going to rest on our laurels,” she said. “We’re going to move forward to even further reduce taxation on businesses and homeowners.”

Carroll is chairwoman of Space Florida and discussed the potential of commercial spaceports in terms of both business and education opportunities. GPS, cell- phones, scratch-proof eyewear lenses, medical equipment and national security were all examples Carroll presented as everyday benefits of the space program and its technology.

Read More...

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NAIOP recaps achievements for 2011 [Daily Record]

NAIOP of Northeast Florida, a regional commercial real estate and trade association, recapped the year at the group’s recent holiday party at Epping Forest Yacht Club.

Karl Hanson, the 2011 president, reviewed its work:

• Launching a Downtown Revitalization Platform, which included strategies and tactics to improve the urban core’s landscape, infrastructure and economy.

Learn More...

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NAIOP to Host Lt. Gov. Jennifer Carroll at Jan. 13 Luncheon [what’s up jacksonville]

If you’re already planning ahead to 2012, mark your calendars for Jan. 13 when NAIOP of Northeast Florida, the region’s commercial real estate trade association, will host a luncheon featuring guest speaker Lt. Gov. Jennifer Carroll. The lunch will be from 11:30 a.m. to 1 p.m. on Friday, Jan. 13, at the Hyatt Regency – Jacksonville Riverfront. Lt. Gov. Carroll will discuss the state’s progress and focus on education, jobs and economic growth, as well as provide an update on Northeast Florida’s business and education sectors. Read More...

Huddle up: Networking abounds at EverBank Field [Jacksonville Business Journal]

The hottest scene to be seen at this week was hands down EverBank Field for the big Monday Night Football game.

Fans were out in full force tailgating before the game. Despite the Jacksonville Jaguars ’ loss to the San Diego Chargers , last week’s news of the team’s sale to Shahid Khan and the replacement of Coach Jack Del Rio by Mel Tucker as interim head coach added a sense of hope and excitement to the evening. Read More...