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IN THE NEWS

Beckwith on governor’s health transition team

Hope Healthcare President and CEO Samira K. Beckwith has been named to the Transition Advisory Committee on Health and Wellness by Gov.-elect Ron DeSantis and Lt. Gov.-elect Jeanette Nuñez. Beckwith will serve alongside 50 health care experts from a variety of medical fields on the committee that will be co-chaired by Nunez and Alan Levine, the former secretary of Florida’s Agency for Health Care Administration. “It’s a privilege to work with Governor DeSantis and this group of knowledgeable leaders to help set the course for Florida’s future in health care,” said Beckwith. “The transition team’s focus aligns with Hope’s vision of transforming the experiences of illness, aging and dying for all Floridians.”

Flight Fast Track opens at Punta Gorda Airport

Punta Gorda Airport announced Flight Fast Track has opened and welcomed owners David Schall and Craig Scully “to the PGD family.” Flight Fast Track is one of the only accelerated flight training schools in the state of Florida. The school offered a three-week accelerated private pilot course, along with accelerated courses in instrument training, CFI training and commercial multi-engine and commercial single engine courses. It also offers self-paced training for those learning to fly on their own time. The airport said in a release that FFT’s David Schall “loves showing people the possibilities of flight. Where it can take you, how you get there, how it can FLIGHT See page 8

Aerial photography shows the future site of Alico ITEC Park, which will debut in the ﬁrst quarter of 2019.

Alico ITEC Park debuts in 2019 Alico ITEC Park — Innovation, Technology, Enterprise, Commerce — will make its full debut in the first quarter of 2019, announced developer Paul Hardy, principal of Naples-based ITEC. In addition to widening Alico Road in Fort Myers to four lanes from Ben Hill Griffin Parkway right to the entrance of ITEC Park, the 240-acre parcel will be fully platted in the first quarter, and the master lift station and Phase 2 of the sewer, roads and drainage for ITEC Park Boulevard will be completed, as well. Alico ITEC Park is part of the 3.075-million-squarefoot industrial space in the northeast quadrant of the ITEC See page 18

Alico ITEC Park will house “Innovation, Technology, Enterprise, Commerce,” according to developers.

Accelerator leverages colleges for startups Collier program expands higher ed partnerships

Collier County’s business accelerator program, a public-private partnership between Collier County and non-profit Economic Incubators, is expanding its partnership with the University of Florida, Florida Gulf Coast University, Florida Southwestern State College and Hodges University to assist new and emerging businesses at the Naples Accelerator and the Florida Culinary Accelerator @ Immokalee. “This partnership of four local and state universities greatly expands the network of strategic partners and knowledge experts who are available to businesses within the Accelerator Project,” said Fred Pezeshkan, chairman of Economic Incubators.

“This builds upon our mission of creating jobs, investment and diversity in our community.” Dr. John D. Meyer, president of Hodges University, added: “Our collaboration with the Accelerator Project will strengthen and promote economic cooperation, including the sharing of information on the economic conditions here in the Southwest Florida area.” Dr. J. Michael Rollo, senior vice president for Strategy and Program Innovation for Florida Gulf Coast University, stated he is particularly excited about the opportunity for tailored accelerator and incubation services for faculty, staff and university alumni.

“We also will benefit from consideration of our recent graduates and current students for internships and employment,” Dr. Rollo said. Dr. Robert R. Jones, vice president, Economic Development and External Affairs at Florida Southwestern State College, agreed about the benefits of the partnership for students. “This partnership provides a tremendous opportunity for our students to obtain mentoring and coaching in a variety of areas, including business plan development,” Dr. Jones said. “It also will provide students with space to hold certain events.” Under a three-year agreement, Florida Gulf Coast University, Florida

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Southwest Florida BUSINESS TODAY

JANUARY 2019

COMMERCIAL REAL ESTATE

Seagate developing storage units in Ave Maria, Estero

Seagate Development Group announced it has begun the development phase of Ave Maria Storage Units with an anticipated construction start in spring of 2019. Located on Useppa Drive in Ave Maria, the project is a joint venture with Ave Maria Development. The facility will offer 51,000 square feet of single story, climate-controlled indoor and exterior storage options. Located within two buildings, storage units will be available in a combination of sizes ranging from 5’ x 5’ to 10’ x 30’, with outdoor covered spaces available to accommodate Class A recreational vehicles. The site will also feature a private gated entry and security cameras throughout the property. “We are excited at the opportunity to partner with Ave Maria Development,” said Matt Price, president and partner

This rendering from Seagate Development Group shows the planned Ave Maria Storage units. Construction should start in spring. of Seagate Development Group. “Selfstorage is a growing industry that falls into our wheelhouse and allows the organization to continue to extend its growing commercial footprint.” “Ave Maria Development is committed to adding additional services for our residents as the community

Kim Hastings to chair Bonita Chamber board Kim Hastings, a business and employment attorney in Estero, is the new Chairman of the Board for the Bonita Springs Area Chamber of Commerce. She specializes in small business counsel, human resources management and all facets of employment law. Hastings has a Masters of Science Degree in Organizational Development and Analysis. She is the owner of Kim M. Hastings and has 30 years of litigation experience. “I enjoy assisting businesses of all sizes grow, develop and become

successful,” said Hastings. She is a member of the Zonta Club of Bonita Springs-Estero and a Charter Member of the Rotary Club of Bonita Sunset. She is a Past President of the Board of the Florida Gulf Coast Literacy Council and a past Board Member of the Ovarian Cancer Alliance for Southwest Florida. Hastings is also a past President of the Collier County Women’s Bar Association and a Past Board Member of the Florida Association of Women Lawyers.

continues to grow. We are pleased to be working in partnership with the talented team at Seagate on the self-storage facility,” said Brian Goguen, vice president of Ave Maria Development. Seagate has also begun site development work at University Storage with an anticipated construction start

in late December. The storage units are located on Tiburon Wal in Estero. The facility will consist of 90,000 square feet of climate-controlled indoor and drive-up exterior storage options. The three-story building will offer approximately 600 storage units in a combination of sizes ranging from 5’ x 5’ to 10’ x 30’, with 19 unconditioned exterior drive-up units. The site will also feature security safeguards throughout the property. “With the constant growth happening in our area we are seeing an increased demand for facilities of this nature,” said Price. “Expanding our reach and expertise in the development of projects of this type position the company to better serve the needs of the community and help to grow our commercial footprint throughout Southwest Florida.”

Airglades project advances near Clewiston Construction is expected to begin in 2019 on Airglades International Airports planned cargo facilities just outside of Clewiston. Florida Department of Transportation is financing the preliminary engineering and design of the Perishable Air Cargo Complex up to $1 million, according to the Real Estate Investment Society. The Federal Aviation Administration’s Airport Privatization Proj-

ect team is reviewing the airport’s application and is expected to conclude the process by end of this year. Students in Nova Southeastern University’s Master of Science in Real Estate Development program have designed concepts for ancillary land uses, amenities and related development on adjacent properties in a program sponsored by the Society of Industrial and Office Realtors.

Bimini Basin: Prime Redevelopment Project in Cape Coral

If you are a mixed-use developer, visit Cape Coral for your next strategic investment. The Cape Coral Economic Development Office invites you to learn about Bimini Basin, a largescale development of up to 35 acres on the waterfront. This mixed-use project seeks to redevelop an area of South Cape with office space, arts, entertainment and dining venues, and downtown housing. Cape Coral is a growth hotspot in Southwest Florida. Contact our team today to find out more about redevelopment of this prime location.

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JANUARY 2019

Southwest Florida BUSINESS TODAY

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Southwest Florida BUSINESS TODAY

JANUARY 2019

COMMERCIAL REAL ESTATE

Update: Amazon eﬀect on Lee industrial market It is no secret. The “Amazon” effect is creating quite a stir in the industrial distribution sector throughout the United States. Click, click, and a package from a retailer shows up at your front door, within hours in some areas. This has been devastating to traditional retail, and quite a boost to the distribution market. What is happening in Southwest Florida in terms of industrial space? Does the market have enough space for the growing distribution sector, and is it keeping up with the need for smaller flex spaces with the boom in residential construction? A snapshot of the 2Q industrial/flex metrics with vacancy rates of 0.5 percent (Charlotte), 1.1 percent (Collier), and 2.6 percent (Lee) would lead to a conclusion that there’s not enough space in the industrial market. For the most part, this is true. The region are significantly lacking in traditional flex space under 10,000 square feet in all three markets of Southwest Florida. However, will 2019 be a different story for the Lee County market? At the time of this writing, there is 564,197 square feet of warehouse space under construction (primarily in four projects), and 219,565 square feet of flex space under construction (primarily in two projects): As shown above, there is 479,547 square feet of space under construction which is not pre‐leased. Sounds ominous, however, considering an absorption of 360,597 square feet in 2017, but the market should be able to absorb this space within 1‐1 ½ years.

For more business news, visit www.swfloridabusinesstoday.com The new construction will impact vacancy but is not expected to be drastic. Albeit, the region needs to keep a close eye on overbuilding namely in the warehouse sector. The flex market, even with new construction, is in need of supply. A review of the warehouse/flex deals 2018 YTD indicate that 69 percent of demand is for units under 10,000 square feet, and only 31 percent for units over 10,000 square feet. Interestingly, 76 percent of the new warehouse construction is for units that are 10,000 square feet or greater. Developers are willing to risk vacancy rather than spend money to build out smaller units and try to obtain higher rents. As the market moves into 2019, Lee County will continue to demand smaller flex space as residential construction continues to flourish. New warehouse construction with units greater than 10,000 square feet will be very competitive for property owners between the four projects listed above. Although new space is being added at what feels like a rapid pace, developers are moving forward with a phased approach (building by building) of filling a building with tenants before constructing the next which should keep the overbuilding in check. Originally published by Maxwell, Hendry & Simmons Real Estate Appraisers and Consultants.

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Hotel conference planned in Miami

The Independent Lodging Congress announced registration is officially open for the organization’s first event in Florida, INDIE Confab: Miami. Taking place on Feb. 7 in Miami’s arts hub of Wynwood, INDIE Confab: Miami will connect creative provocateurs and disruptors from the worlds of hotels, food and beverage, design and finance. With topics ranging from climate change to the dissection of a specific hotel deal in the South Florida hospitality scene, INDIE Confab: Miami will inspire and ignite strategic ideation for the next generation of independent hotel owners and operators. Confirmed speakers for this year’s event include to date: Rami Zeidan, co-founder and CEO of Life House Hotels; Neil Shah, president and COO of Hersha Hospitality Trust; Bradley Kilgore, chef and owner of Kilgore Culinary; Elizabeth Wheaton, environment and sustainability director for Miami Beach; Avra Jain, founder of The Vagabond Group; Steven Haigh, co-founder and general manager of KYU Miami, David Kelly, professor of Economics and director of Sustainable Research Cluster/ University of Miami, and Keith Menin, principal of Menin Hospitality. “Our Annual Confabs are all about taking a dive and exploring the hospitality scene in various cities,” said Andrew Benioff, founder and chairman of the Independent Lodging Congress. “We chose Miami because of its interesting community, culture and stew of people. It’s a hot bed of innovation, especially in terms of independent hospitality.” Located at The LAB Miami in Wynwood, the 2019 INDIE Confab: Miami will offer attendees the opportunity to listen, learn and engage with industry powerhouses as they share stories of success, failure and their predictions for the future of the independent hospitality business. INDIE Confab: Miami follows the successful Independent Lodging Congress 2018 3-day event held in October 2018, where speakers included Brad Wilson from Ace Hotels, Amar Lalvani of Standard International; Mark Harmon of Auberge Resorts; Katherine Lo of Eaton Workshop; Benjamin Sinclair of Faena Group; Susan Spinney of Expedia and more than 50 other leading hospitality industry executives and entrepreneurs. The Independent Lodging Congress has become what attendees and speakers have called the “gathering for disruptors in hospitality and travel,” and is the first conference focused on generating change by challenging their attendees and asking the uncomfortable questions that lead to provocative conversation and actionable resolution.

JANUARY 2019

Southwest Florida BUSINESS TODAY

COMMERCIAL REAL ESTATE What can SBA do for your small business? Happy New Year! I thought I would kick off the New Year by summarizing what the SBA can do for your small business, especially if you are getting pushback or even a loan decline from your lending institution. The SBA in conjunction with a bank can provide financing for anything a small business needs including real estate purchases, business acquisitions, partner buyouts, business expansion, working capital, equipment, inventory and even start-ups. In order to qualify, you must own and operate or be purchasing a small business. The SBA cannot be used for investment property purchases. So why use SBA? The SBA provides a loan guarantee to the bank lending you the funds, which allows the bank to take on more risk than they would in a conventional commercial loan. This translates into three major benefits to the small business owner. The ability to hoard cash, maximize cash flow, and keep control of their business in their hands. This is done thru lower down payments (sometimes as low as 10 percent), longer payment terms (sometimes as long as 25 years), limited or no prepayment penalties, no balloon payments, no loan covenants, no call features and the ability to finance a project that has some major risks associated with it. Some of these risks include a change in ownership, a loan that is cash

flowed using projections rather than historical cash flow, a shortfall in collateral, a single purpose property such as hotel or marina, a lack of direct industry experience and/or a business in a high risk industry. The timing on an SBA loan typically ranges from 30-90 days depending on the type and complexity of the transaction, your ability to provide timely inBY TOM formation and documentation and MAIALE most importantly the level of exGuest Columnist perience of your SBA lender. I’ve been in this industry for 18 years and I love talking shop so feel free to give me a call if you would like to discuss a project in 2019. And don’t forget, conversations are free! Have a wonderful and prosperous New Year! Tom Maiale, First Federal Bank SBA Lending Vice President and Business Development Officer, is a 17-year SBA Lending veteran with SBA Training from The National Association of Government Guaranteed Lending and The U.S. Small Business Administration. Contact him at (239) 288-9966 or tmaiale@cbcnationalbank.com.

Nadeau named president, CEO of Goodwill Rick Evanchyk, president and CEO of Goodwill Industries of Southwest Florida, has announced that he will leave his post after four years as president and CEO and 15 years total with the organization. The Board of Directors of Goodwill Industries of Southwest Florida appointed John Nadeau, currently the organization’s vice president of Operations, to be the new president and CEO. Nadeau has worked at the organization for the last three years and in his short time, he has successfully seen the organization through some of its most challenging retail times. After great consideration, Evanchyk said he is looking forward to spending more time with family and exploring new opportunities. Evanchyk believes the timing of his departure is right as he will be leaving the organization in great hands to move the company forward and make it stronger. “It has been an honor and an absolute highlight of my career to work for this incredible organization. To be able to say that I worked alongside people every day whose focus was making an impactful change in someone’s life has been an amazing experience for me and one that I will never forget,” said Evanchyk. Under Evanchyk’s leadership, the Southwest Florida Goodwill agency has made major strides in organizational growth, persons served, community collaboration, and other accomplishments including the development and expansion of the Pathways programs. One of his major accomplishments is the organization’s HUD Housing initiative for people with disabilities. Under his direction the Goodwill housing program has 16 focused apartments in operation with more than 200 residents. This is up from six apartments when he joined the organization. In addition, Goodwill Industries of Southwest Florida’s housing program recently received an award for Excellence in Management from the Southeastern Affordable Housing Management Association. As for Nadeau, prior to his move to Southwest Florida, he spent eight years at Goodwill of the Olympics and Rainier Region (Tacoma, Wash.), the majority of that time as director of stores. In

Tacoma, he was responsible for the operation of 35 Goodwill retail stores and e-commerce operations with combined yearly sales of more than $65 million. Nadeau also has extensive experience in the grocery retail industry, including 23 years with Fred Meyer, Inc. and as president/owner of an upscale supermarket. Nadeau “John brings a varied background with him to the leadership table,” said Evanchyk. “He has Goodwill experience, for-profit retail experience, and has held positions at many different levels of management. I am thrilled to be able to pass on this opportunity to someone who will keep mission at the core of what we do and maintain the continuity and positive direction of what has been started.” Mike Sullivan, board chair, stated: “Rick has led our Goodwill through very challenging times all the while keeping us mission focused and financially sound. Under his leadership, our agency has grown from about 300 employees to over 800, and from serving just over 5,000 people through our programs and services to well over 28,000 people each year. We are very grateful for all that he has done for this organization. “The appointment of John will be a seamless transition. We look forward to John’s leadership and his direction to take us to the next level.” In response to his appointment, Nadeau said: “It is an honor to have the opportunity to lead an organization with such a tremendous impact on the Southwest Florida community. The legacy that both previous CEOs Tom Feurig and Rick Evanchyk have left behind will be one that I will proudly strive to uphold and take to the next level. We have a great team here at our Goodwill and I look forward to keeping the momentum going.” Evanchyk continued his term as president and CEO through 2018. Nadeau will officially take over in mid-January.

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A-League hires Ulm as Vice President of Business A-League Football announced the hiring of Chris Ulm as Vice President of Business. He begins his new position Jan. 2, and will be based out of the Southwest Florida office. “I’m excited to have Chris join our organization, and I look forward to working with him in establishing, and building relationships in each market,” said A-League President of Business Andrew Haines. Chis Ulm comes to A-League Sports after spending the last 20 years in Indiana, where he helped build the Ball State Sports Properties brand through various multi-media rights holders (Learfield, Play By Play Sports, Nelligan Sports Marketing) as well as Ball State University. “I am thrilled to be joining A-League Football! My entire career has focused on partnerships and I look forward to continuing that tradition with the opportunity to work with many of Central and Southwest Florida’s industry leaders,” added Chris Ulm. Rising through the ranks from student intern to general manager of the property, Ulm helped contribute to a 1,500 percent increase in Ball State University Athletics corporate sales through a great base of corporate partners and utilizing traditional and non-traditional means to acquire multi-year agreements for the department. The formation of the “Team Ball State” program helped establish cornerstone partnerships for the department to elevate brand awareness for all involved. Ulm enjoys developing unique opportunities for potential supporters not to sell sponsorships, but to build partnerships.

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Southwest Florida BUSINESS TODAY

JANUARY 2019

CenturyLink to bring gigabit internet speeds to Cape Coral

“

We are thrilled to see CenturyLink move Cape Coral into the future.

“

CenturyLink is completing a fiber construction project in Cape Coral to enable 55,000 homes and businesses in the area with internet speeds up to 1 gigabit per second. The project is expected to be completed in early 2019. Fiber gigabit speeds up to 1,000 Mbps are possible by connecting fiber-optic cable directly to homes and businesses using Fiber To The Home technology. FTTH technology benefits every type of user, from the serious gamer to the self-employed business owner. Cape Coral key leaders comment on the benefits of CenturyLink’s gigabit broadband service: “As technology moves at a breakneck pace, Cape Coral welcomes CenturyLink’s infrastructure improvements for benefiting small businesses and homes alike. Considering that 60 percent of Cape Coral businesses are home-based, this technology is very timely.” – Terri Hall, Cape Coral Economic Development Interim Manager “CenturyLink’s investment gives Cape Coral a tremendous competitive advantage over other communities as it recruits new businesses. Fiber optic infrastructure puts us ahead of today’s standards and prepares our community for future innovations.” – Brian Hamman, Lee County Commissioner “We are thrilled to see CenturyLink moving Cape Coral into the future. This will have a huge impact on

– Donna Germain, President/CEO Cape Coral Chamber

the infrastructure in our city and create more connectivity options for our residential and business community.” – Donna Germain, President/CEO, Chamber of Commerce of Cape Coral “CenturyLink knows that life is powered by connections, so we are committed to using technology to help meet our customers’ personal and business needs,” said Danny Pate, CenturyLink vice president of operations. “We’re pleased to receive such positive feedback from leaders in the Cape Coral area who understand how a city benefits from fiber-optic broadband speeds.” Cape Coral is the 24th fastest growing city in the nation according to WalletHub. CenturyLink officials said 1-gigabit service will allow customers to quickly download content: • Photos (5 MB) in 0.04 seconds • Music (70 MB) in .56 seconds • TV Shows (175 MB) in 1.4 seconds • Movies (700 MB) in 5.6 seconds

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STARTUP PAGE 1 Southwestern State College and Hodges University will provide business mentorships, essential services and a collaborative environment at the Naples Accelerator. The agreement builds upon an existing pact with the University of Florida and the Culinary Accelerator @ Immokalee. Established in 2014, the accelerator program is funded through the Board of Collier County Commissioners, federal and state grants, and membership and program income. “As we continue to look for creative ways to diversify the support of these business development programs, our partnership will collectively pursue federal, state and other funding opportunities that will support not only the Accelerator Project but the regional economy as a whole,” said Collier

County Manager Leo E. Ochs, Jr., who initiated talks with the schools earlier this year. The Naples Accelerator is a membership-based business accelerator, certified soft-landing international business accelerator and co-working office in Naples. Its staff and partnership programs assist members with essential support to launch their ideas and businesses, including legal, administrative, marketing and funding support. The Florida Culinary Accelerator @ Immokalee opened in January 2018 in Immokalee. It provides a state-of-theart commercial kitchen which is open to its membership base. The Florida Culinary Accelerator also provides the possibility of venture funds and business assistance so that members can truly see their culinary creations become a reality.

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How will Florida minimum wage increase affect you? The Florida Minimum Wage is calculated by the Florida Department of Economic Opportunity every year as required by Florida Law on Sept. 30 based on the Consumer Price Index. Effective January 1, the Florida Minimum wage will go from $8.25 per hour to $8.46 per hour, while tipped employees will also see an increase of at least $5.44 per hour in addition to tips. This is a $0.21 cent increase over last year and $1.21 increase over the current Federal Minimum Wage. These annual changes in the Florida Minimum wage affect first-time and part-time workers. But in Southwest Florida, where the average hourly wage is $19.63 per hour, employees may not feel the impact directly from this increase. Based on the four industry pillars of Southwest Florida (retail, hospitality, healthcare and construction), let’s see how this may impact our entry level Southwest Florida employees on occupations by projected employment. Entry level jobs within retail sales person start

at $8.29 per hour, currently with total projected employment of 28,571 by 2023. These employees will most likely be positively impacted by the increase. Entry level for waiters and waitresses start at $8.83 per hour, currently with a total projected employment of 18,015 by 2023. Entry level for registered nurses start at $21.60 per hour BY JANETH P. with a 2023 projected employCASTREJON ment of 11,362. Guest Columnist Entry level for construction carpenters start at $12.15 with 2023 projected employment of 8,523. According to the Employ Florida Labor Market Information, the most likely to be impacted are the jobs within retail sales and waiters and waitresses— entry-level jobs. Now the questions that remain about the annual

increase are: will this stimulate our economy by putting money in the hands of low-income consumers? Or will this take away jobs from low skilled workers because employers will look for higher skilled workers? As a Workforce Professional, I can share with you that historically low unemployment (currently 3 percent) will eventually push wages higher, rendering the minimal wage discussion moot if businesses want to avoid higher turnover and training costs or increase employee retention. At least this is what I am hoping for. These and other arguments have been going around for quite some time; I’ll leave it up to you or time will tell if this be a positive or negative effect in our local economy. Janeth P. Castrejon is the social media coordinator for CareerSource Southwest Florida. Contact her at jcastrejon@careersourcesouthwestﬂorida.com.or call (239) 225-2500, ext. 5239.

AIF, FloridaMakes announce strategic partnership Associated Industries of Florida and FloridaMakes announced an official strategic partnership agreement that sets the groundwork for mutual cooperation, leveraging each other’s programs and services to create impact and benefit manufacturers, suppliers and innovative enterprises across the state. AIF members and affiliates work collaboratively to advance policies at the federal and state level that help Florida manufacturers succeed. From cutting regulations to promoting job growth, AIF serves as a champion for manufacturing prosperity throughout the state. AIF is Florida’s official representative to the National Association of

For more business news, visit www.swfloridabusinesstoday.com

Manufacturers (NAM). “We look forward to the momentum and impact this collaboration will bring as we work together to strengthen the competitiveness and profitability of manufacturers in the State of Florida,” said AIF President and CEO Tom Feeney. FloridaMakes is an industry-driven, public-private partnership operating through the statewide network of Florida’s regional manufacturing associations with the mission of strengthening and advancing the productivity and technological performance of Florida’s

manufacturing sector. FloridaMakes is the official Florida representative of the Manufacturing Extension Partnership (MEP) operated by the National Institute of Standards and Technology. “This partnership brings together the collective interests of Florida’s anchor manufacturing enterprises, predominately multinational, through AIF with the state’s small- and medium-sized manufacturers, largely privately-held, through the regional manufacturing associations,” said FloridaMakes CEO Kevin Carr. This collaboration brings to bear the

resources and expertise necessary to ensure an optimal business and regulatory environment for Florida’s manufacturers through AIF, and that Florida’s manufacturing firms can accelerate their access to the knowledge and expertise necessary to keep pace with the technology and talent demands in advanced manufacturing through FloridaMakes. The combination of AIF and Florida’s regional manufacturing associations, through FloridaMakes, represents the most formidable “Voice of Manufacturing” for the state’s 20,484 manufacturing establishments and 377,400 Floridians employed in high-wage, high-skills jobs in the sector.

19th Annual COMMERCIAL REAL ESTATE

OUTLOOK

CONFERENCE Economic and technology shifts are impacting the demand for commercial real estate. Real estate industry experts will discuss how the changing economic landscape is impacting Southwest Florida. This dynamic conference benefits brokers, investors, buyers, sellers, banking professionals, insurance agencies, lawyers, and title insurance companies.

KEYNOTE SPEAKERS Dr. Lawrence Yun, Ph.D. Chief Economist National Association of Realtors

Dr. Yun will discuss the current state of the USA, Florida and local economies and make a forecast for the year ahead.

KC Conway, MAI, CRE

CCIM Institute Chief Economist and Director of Research and Corp. Engagement Alabama Center for Real Estate (ACRE) Mr. Conway will discuss the changing retail market.

“Adapt and Thrive or Don’t and Die” FEBRUARY

11, 2019 7:30 AM to 12:00 PM

EVENT DETAILS HYATT REGENCY COCONUT POINT

5001 Coconut Road Bonita Springs, Florida Discounted Room Reservations: www.hyattcoconutpoint.com/naprn?corp_id=G-SWCC

EARLY BIRD RATES: District Members: $60 Non-Members: $75

AFTER JANUARY 11th : District Members: $70 Non-Members: $80 At The Door: $90

BREAKFAST BUFFET INCLUDED Danny Rice

Managing Director & Market Leader Central Forida Colliers International Mr. Rice will discuss the State of the National Brokerage Community, TECHNOLOGY, and what all business owners need to know to thrive in today’s changing envirnonment.

PANEL

Sponsorship Opportunities: 239.281.1290 or Bev1314@aol.com

Economic Development - Growth and Forecasts

www.flccim.com/districts/southwest-district/

Highlights:

• 3 Keynote Speakers • Economic Development Panel on Growth and Forecasts • Networking Opportunities SPONSORS � Royal Palm Coast Realtor Association � Southwest Florida Commercial Alliance � CRE Consultants � Lee County Economic Development � City of North Port � Lake Michigan Credit Union of Florida � First Federal Bank � Southwest Florida Business Today � CoStar Group � Suite Life Magazine � City of Cape Coral � University Park � Coldwell Banker Commercial NRT � CFS Roofing Services LLC � Naples Board of Realtors � Photography by David Michael � Catylist � Maxwell Hendray & Simmons � Midland Self-Directed IRAs & 1031s � Business Observer � ROETZEL � GATES Construction � Comcast � RE/MAX Commercial/Realty Group � Gulfshore Business � LandQwest Commercial � Target Roofing and Sheet Metal � SVN | KOVA � Environmental Risk Management, Inc. (ERMI) � CREW Naples | Fort Myers

Page 8

Southwest Florida BUSINESS TODAY

JANUARY 2019

COMMERCIAL REAL ESTATE

Is successful commercial real estate investing ‘magic?’ Why do some people consistently make money buying commercial real estate? Is it magic? Is it luck? Is it science? Is it that the person already has money? There are as many reasons that people buy commercial real estate as there are people. But, in reality they can be easily be broken down into two groups. One group are users who run businesses and must do that activity in a commercial area. The other group are investors. We all know why the users make a purchase. There is usually a scientific way to at least insure they can survive and prosper as long as they indeed have business. The other group can be split into multiple subsets which are the ones we are talking about today. The subsets for my example are categorized thusly: The Big Deal, The Professional, The Bottom Fisher and The Novice. The Big Deal: He needs no help and takes no advice. According to him, “price is no object.” He is so impatient to purchase that he wants to put his money down as fast as possible because, “All real estate goes up and I am missing the opportunity daily.” This fellow may get lucky but generally buys something that is overpriced or in an area with no real prospects for appreciation. The Professional: He seeks advice and knows his personal limitations about specific knowledge and pricing of an area. The big deal is a know-it-all and the professional is a Sgt. Shultz. “I know Nothing!”

FLIGHT PAGE 1 change and enhance your life, or absolutely define it.” FFT can perform instrument profi-

Price matters as well as area to the professional. The Bottom Fisher: He just wants something that is dirt cheap. If the seller is in trouble, Great! If the building looks like hell, Great! Owner financing, even better! This is usually a hard sale and usually very frustrating as a broker. But, it takes all kinds to make a successful BY RANDY year so we soldier on. KRISE The Novice: He is usually the Guest Columnist most fun. They have saved some money. They are eager to learn and want to make a successful entry into commercial real estate investing. They listen to you sincerely. The two groups that are receptive to advice are primarily the Professional and the Novice. And guess what, they are usually ethical. When you work with a truly trained and qualified real estate broker, you could liken it to going to the doctor. You can do what he says and get well soon or you can ignore the advice and suffer longer. Usually you aren’t going to die but you might have a lot more pain. The time value of money is so important. If you could put $100,000 into a deal and get your down money back into your pocket in seven months while holding the property for four years and turning a gross profit of $325,000.00, would you do it? I have done it several

ciency checks and biennial flight reviews. For those looking for a professional career in flying for airlines, global corporations and freight carriers, FFT even offers Airline Transport Pilot License training.

2018 Winner NGALA Wildlife Preserve is the winner of the 24th annual Blue Chip Community Business Award. Chosen by a panel of judges from 10 applicants, owner Donovan Smith has overcome personal and professional challenges to maintain and restore his beloved wildlife sanctuary following two natural disasters. Located in Naples, NGALA Wildlife Preserve is an animal sanctuary built in the elegant safari style of a bygone era. Having always been passionate about nature and wildlife, Smith started the business years ago with only $200 in his pocket and transformed the preserve into the ultimate destination for executive galas, weddings, and other lavish events. Guests can enjoy the opportunity to encounter exotic wildlife while enjoying authentic entertainment and fine dining. The challenges NGALA Wildlife Preserve faced came in the form of two natural disasters occurring within five months of each another. Last spring, as a 7,000-acre fire tore through the sanctuary and Smith ventured into the preserve to save NGALA’s white rhino, Walter. As a result, he suffered second-degree burns on 20 percent of his body, including internal burns on his lungs. Following several weeks of recovery, Donovan returned to the preserve only to face a second natural disaster, Hurricane Irma, which caused even more damage to the preserve. Smith and his team exhibited sheer determination and perseverance to overcome these extreme hardships and have worked tirelessly to restore the preserve to its original state.

sponsored by: and

endorsed by:

Congratulations to the Lee, Charlotte, and Collier County small business owners and entrepreneurs who have seized opportunities, managed resources and overcome adversity to serve as role models for other business people. We are inspired by their stories of determination, innovation and success.

Finalists § Community Resource Network § Myerside Resort & Cottages § NGALA Wildlife Preserve § Reliable Permitting and Business Solutions § Zirilli’s Chilly Treats

Bonita Springs Area Chamber of Commerce · Cape Coral Chamber of Commerce · Charlotte County Chamber of Commerce · Charlotte County Economic Development Office · Christian Chamber of Southwest Florida · City of Cape Coral Economic Development Office · Estero Chamber of Commerce · Florida Gulf Coast University · Florida South Western State College · Florida Weekly · Greater Fort Myers Chamber of Commerce · Greater Lehigh Acres Chamber of Commerce · Gulfshore Business · Hodges University · Lee County Economic Development Office/Horizon Council · Sanibel & Captiva Islands Chamber of Commerce · Southwest Florida Business Today · Southwest Florida Hispanic Chamber of Commerce · The Chamber of Southwest Florida · The Greater Fort Myers Beach Area Chamber of Commerce · The Greater Naples Chamber of Commerce

times and some deals did not take four years. Now, magnify that amount eight times and the possibility is the same. $760,000.00 in the deal for two and a half year hold, total back in your pocket $900,000.00 with residual land value of $2,700,000 left with no debt. Do you want advice or can you do it on your own? The professional is ready and so is the novice. The big deal knows how to do it himself (almost never materializes) and the bottom feeder won’t commit the funds. There is no magic! Investing takes work. When you go out on your own and call from signs, you do not save money. It just means that the other party made more money than expected or the agent received both sides of the commission. You are left out with no professional advice and no savings. You must buy the land or building under market to have a chance to be in the money relatively quickly. Just remember, a broker who takes the time and spends the money to become a CCIM (Certified Commercial Investment Member) has demonstrated knowledge and experience to help you reach your goal of being a successful real estate investor. Randy Krise, CCIM is the Broker/Owner of Krise Commercial Group and can be reached at (239) 633-8672 or randy@krisecg.com. Randy Krise, CCIM is the Broker/Owner of Krise Commercial Group and can be reached at (239) 633-8672 or randy@krisecg.com.

Florida Polytechnic Foundation expands board The Florida Polytechnic University Foundation announced the addition of two new members to its Board of Directors, broadening its reach to the south and southwest Florida regions. Joining the Board are Ivette A. O’Doski, a Miami-Dade native and owner of a government consulting company, and Joshua McCoy, an expert in commercial, industrial and government banking. O’Doski is an attorney who ventured into the public, public-private and nonprofit business sectors after years working for a Miami-Dade law firm. O’Doski was a senior government advisor for the Tallahassee Government Relations Group of Buchanan Ingersoll and Rooney and was the vice president of corporate, government and community relations for The Miami-Dade Beacon Council, before founding Ivette O’Doski Consulting in 2015. “Florida Polytechnic is the ground zero incubator for Florida’s future STEM talent,” said O’Doski. “With so many students attending Florida Polytechnic from MiamiDade County, one of my goals as a board member will be to keep that talent in Florida and bring it back to Miami-Dade County. I also believe there are strong opportunities to develop innovative collaborations with the University and my community as well as all of Florida, which will enrich Florida Polytechnic as a resource to our state.” McCoy leads SunTrust Bank’s

For more business news, visit www.swfloridabusinesstoday.com government commercial banking team, covering the Florida market. Previously, he managed a portfolio of local government, education, healthcare and other non-profit institutional clients in the Southwest Florida region. “I’m excited to be a part of Florida’s newest state university,” said McCoy. “I’m honored and looking forward to playing a critical role in the next chapter of Florida Poly’s maturation.” “As Florida Poly awareness continues to grow, Ivette and Joshua will bring vital experience in industry, government and community leadership in regions that are still somewhat new to the University,” said Kevin Aspegren, Florida Poly vice president of advancement and CEO of the Florida Poly Foundation. “We’re excited to welcome them, knowing they’ll be crucial in helping the Foundation continue to achieve its mission to support Florida Poly.” The Florida Polytechnic University Foundation Board of Directors is comprised of community leaders and industry experts who see the potential to fuel dreams, boost the economy and put Florida Poly on the map as a high-tech leader. The Foundation Board works closely with university leadership to align fundraising efforts with Florida Poly’s path for the future.

SWFBT GETS RESULTS!

“This was my ﬁrst year adver�sing in SWFBT and it has been a great experience. Receiving a call from someone who, when I asked how she had found out about me, said she was reading SWFBT in her Doctor’s oﬃce and saw my ad. I rarely expect such quick return on adver�sing investments but that one ad led to more than one client in Naples for me! So, looking back, I am glad I invested in my ad in SWFBT, and I know that the professional standard that Karen Moore keeps will lead to even more success in my future!”

Bernade�e Collier AAA Fort Myers

JANUARY 2019

Watch out for threats to business security

By Mona Hilton Guest Columnist

Part 2 of 2 So what can you do? Having a clearly established security policy regarding personal smartphones and mobile devices is essential. First decide how personal devices can and will be used and inform employees on your policies. At a minimum, all devices should require a password for access. You’ll also want to make sure each device has anti-spam and anti-virus software installed and uses an approved operating system. You may also want to consider software to remotely wipe a device in case it is lost or stolen and enable server-side security measures to restrict access to sensitive documents and information. Malicious Acts of Revenge To be fair, most employees are not malicious. However an angry employee who has been terminated or hasn’t gotten a raise or promotion they think they deserve may pose a serious security risk for your business. Occasionally they’ve been known to steal and post client data, financials or other competitive information online. In some cases, they have sold the information. A disgruntled employee can also delete critical files to either cause harm or cover their tracks. And when it’s your clients’ data that gets stolen or compromised, you have a major PR nightmare to handle, aside from the costs and problem of recovering the data. While you can’t predict what disgruntled employees are likely to do, you can make it more difficult for them to hurt your business and your reputation. Start by only allowing access to the resources that employees need to do their individual jobs. Establish user accounts with multiple safeguards so employees aren’t in a position to access information they shouldn’t have. Definitely change all sensitive network passwords on a regular basis and immediately following the exit of a key employee with admin access. Next, set up content filtering software to detect not only when employees visit inappropriate sites, but also if they delete or alter large amounts of data—key signs something could be amiss. Finally, it’s worth the cost of a good employment attorney to help you craft various policies on using and accessing confidential information. While most employees aren’t out to hurt their employers, sometimes their actions can inadvertently put your business’ security at risk. It’s important to take wise steps to minimize mistakes and safeguard your data and your network. Need help implementing the right safeguards on your network? We’re happy to help. Contact Genesis Global Technologies today to discuss real solutions to safeguard your network! Mona Hilton is the founder and CEO of Genesis Global Technologies. Contact her at monah@genesisgt.com or (239) 337-2667.

Southwest Florida BUSINESS TODAY

Page 9

COMMERCIAL REAL ESTATE

Market stabilizing in Bonita, Estero

Historical numbers from October 2016, 2017 and 2018 show a trend of market stabilization, according to the Bonita Springs-Estero Realtors Media Committee. “If we take a look at pending and closed sales for the month of October going back three years, those numbers show very little fluctuation, even with hurricane Irma in 2017,” stated Jerry Murphy, Broker, Downing-Frye Realty, Bonita Springs. “This trend indicates a current fair market that sets the stage for an active upcoming winter buying season.” Area brokers have also indicated that open house activity has increased as well. Brokers are urging homeowners with listed properties to consider holding open house events on weekdays. Dave Jeronimus, Managing Broker, John R. Wood Properties, Bonita Springs stated,” Holding open houses during the week is proving to be just as effective as holding them on the weekends, especially this time of year when our winter visitors are committed to finding that ideal property. “If the listed property is in a community that can allow for weekday open house events, homeowners should give it serious consideration.” For those homeowners waiting for January to list, area brokers are advising to list now because there is a shortage of inventory, especially in the $300,000 to $500,000 single family home and condominium price segment. These inventory shortages are presenting a challenge to buyers who want to make a purchasing decision sooner than later. Listings priced to fair market value now will produce open house activity and offers. Also, residential real estate prices are expected to remain steady going into quarter one of 2019, hence the stable market trending noted in the last three years. Waiting for price increases in 2019 before listing a property for sale is an unrealistic sales strategy based on current market behavior. Lastly, closing prior to 2019 will allow buyers to take advantage of the homestead exemption as well. According to Realtor.com’s report for the Bonita Springs and Estero market, there were 8.2 million listing page views for October 2018, over a half million more views than last month. For homeowners who wish to sell, the number of listing page views bodes very well for the market, as local and

For more business news, visit www.swfloridabusinesstoday.com

non-local buyers are actively looking—yet another reason to list now as opposed to later. Homeowners wishing to sell are urged to take advantage of the current online activity generating around the Bonita Springs and Estero markets. For those buyers looking to finance now, more programs are now available to assist in locking in rates prior to 2019 rate increases. Chris Maccarone, managing broker, Premier Sotheby’s International Realty, Bonita Springs stated, “Historically, mortgage rates are not as high as past decades of course, but rate increases in 2019 are likely.” She adds, “If you know you want to buy sooner than later, taking advantage of financing that will lock in today’s rate is a smart move.” For area investors, now is the time to take advantage of new investments to avoid a capital gains tax. “Now is definitely the time to reinvest,” stated BER Vice President, Ursula Weinkauff, Broker, Focus Real Estate, Bonita Springs-Estero. “Those re-investment deals need to close in November or December, so if that is your plan, act now because it isn’t too late to close before Dec. 31.” Additionally, Southwest Florida is a great choice for investors because of the absence of state tax and the rental property demand. Investing now to avoid inventory challenges also is highly recommended. If you’re a buyer interested in new construction homes and are planning to visit those communities, realizing that the on-site agent works for the builder is very important. “Having your own real estate agent for a new construction home transaction can save you money,” stated Adam Ruud, Managing Broker Domain Realty, Bonita Springs. “The onsite real estate agent’s primary function is to act in the best interest of the builder, so bringing your own agent can give you negotiation power, saving you both money and the stress of realizing missed opportunities after the closing.” The passing of Amendment 2 in Florida also is a big win for investors and homeowners alike. As of Jan. 1, annual increases in the taxable value of all non-homestead property will permanently be capped at 10 percent. Non-homestead properties include rental properties, vacation homes, vacant land and commercial property.

B R O KE R S ~ A N A L Y S T S ~ A D V I S O R S ~ C O N S U L TA N T S

4632 Vincennes Blvd., Ste. 102 ~ Cape Coral, FL 33904 ~ 239 -677-2380 ~ www.cra.us

We Care About SWFL Secure Your Future With Commercial Realtors Your Own Business With dedicated space for informa�on: • On our website with a Commercial Real Estate sec�on & directory • In our quarterly Commercial RE Market pullout in both the print & digital versions of SWFBT • With zoned and full-run inserts • With guest column opportuni�es • With digital marke�ng op�ons For more informa�on, call Karen at (239) 770-7527

www.swﬂoridabusinesstoday.com

Businesses Available Roo�ing Company $595,000 Internet Marketing $325,000 Graphic Design $125,000 Retail Seafood $49,000 Hair Salon $7,500 Restaurants from $50,000

Contact Larry Steinborn,

Lic. Real Estate Broker Sand Dollar Real Estate / Business Depot (239) 433-1343 or bizdepot@aol.com 6309 Corporate Ct. #205 Fort Myers, FL 33919

Selling your Business is our Business!

Page 10

Southwest Florida BUSINESS TODAY

JANUARY 2019

COMMERCIAL RE MARKET A look at commercial real estate trends and topics in Southwest Florida

Choose the right commercial professional for you RON STRUTHERS, CCIM

FRED KERMANI, CCIM, AIA

Punta Gorda, Port Charlotte, North Port, Venice, N. Fort Myers & Pinellas Park Specializes in all facets of commercial brokerage and leasing in Charlotte County area. 2019 CCIM Florida Chapter Southwest District President.

COLDWELL BANKER COMMERCIAL NRT

• • • • •

941-769-3316 rstruthers@ccim.net www.commercialrealtyfl.com

INVESTMENT RETAIL OFFICE INDUSTRIAL LEASING

BOB WHITE, CCIM Lee, Collier & Charlotte Counties Active Southwest Florida Commercial broker for over 25 years. Specializing in industrial, office and investment properties. Past president SWFL CCIM and REIS.

BOB WHITE, INC. 239-850-2217

bob@bobwhiteinc.com

• • • •

INDUSTRIAL OFFICE LEASE OR SALE INVESTMENT

CCIM

If you are a CCIM-SWFL Chapter member, as a benefit, you are eligible to participate in this section. Contact 2019 CCIM SWFL President Ron Struthers for details at rstruthers@ccim.net Ron says: “This ad got me listings. It works!”

ADAM PALMER, CCIM Fort Myers, Naples, Sarasota, Tampa & Orlando Principal & Managing Director LandQwest Commercial, President - Florida CCIM Chapter, 12-time CoStar Power Broker Award Winner

LANDQWEST COMMERCIAL

239-898-8686 adam@adampalmer.com www.adampalmer.com

• • • • •

OFFICE INVESTMENT LAND RETAIL INDUSTRIAL

MICHAEL J. FRYE, CCIM

Lee, Collier & Charlotte Counties Recipient of the RE/MAX Lifetime Achievement and Hall of Fame Award. Serving the SWFL market for over 30 years. We have 7 CCIMs to serve all our clients' needs.

RE/MAX REALTY GROUP 239-281-0441 mfrye@ccim.net www.michaeljfrye.com

• • • •

OFFICE RETAIL INDUSTRIAL LAND

Collier, Lee & Charlotte Counties Partner, licensed real estate broker and architect in Florida & California with 36 years of real estate and design experience. Specializes in land marketing and investment properties.

Why use a CCIM?

There are countless benefits to working with a CCIM. Commercial real estate investment requires the counsel of a qualified professional. A Certified Commercial Investment Member provides clients with the assurance that every decision will be made in the best interest of their investment objectives. When assembling a commercial real estate investment team, start with a CCIM.

• LAND • INVESTMENT

CRE CONSULTANTS

239-659-4960 fred.kermani@creconsultants.com www.creconsultants.com/fredkermani

RON WELEBNY, CCIM

Lee, Collier, Charlotte, Hendry & DeSoto Counties

Qualifying Broker / Managing Director Licensed Real Estate Instructor Director Royal Palm Coast Realtor Association Director, CCIM-SWFL District Past President Commercial Investment Professionals of Southwest Florida Past President SWFL Commercial Alliance Vice-Chair Laguna Estates CDD

CREDIBILITY

CCIM is the most prestigious designation commercial real estate professionals can achieve within the industry. Graduate-level education, coupled with industry-leading technology tools, practical proven experience, and in-depth knowledge of their local markets, gives CCIMs the ability and the credibility to conduct business confidently and successfully. By partnering with a CCIM, you effectively utilize the top-level, most reliable performers in the industry: with an average of 19 years of experience, 70% of CCIM members hold executive-level positions and 90% of members refer clients to other business services. When you use a CCIM, you choose the most credible professional in the business.

COMMERCIAL REALTY ASSOCIATES of SWFL 239-677-2381 Ron@CRA.us www.CRA.us

MEASUREMENT

Overall, CCIM’s global network enables members to close thousands of transactions annually, representing more than $200 billion in value. But closing transactions is only part of what CCIMs can do. In addition to holding dealmaking occupations in every property sector, CCIMs are also found in’ leasing, asset management, development, lending, financing, property management, site selection and corporate real estate positions. So, whatever assistance your real estate project requires, a CCIM can help you achieve a better result. In fact, only 6 percent of all commercial real estate practitioners hold the elite CCIM designation, which reflects not only the caliber of the program, but why it is one of the most respected designations in the industry. When you use a CCIM, you choose a professional who produces measurable results.

The CCIM designation is conferred by the Chicagobased CCIM Institute, a commercial real estate affiliate of the National Association of REALTORS. Learn more about the value of working with a CCIM.

BROKERS ANALYSTS ADVISORS CONSULTANTS

Lee, Collier & Charlotte Counties

Larson has over 39 years of diversified experience in the SWFL market. She is a Certified International Property Specialist. 2018 Florida CCIM Chapter Southwest District President.

LAHAINA REALTY 239-281-1290 bev1314@aol.com

INTEGRITY

• • • •

BEV LARSON, CCIM

COMMUNITY

Today there are CCIMs in every state, across Canada and Mexico, and in more than 30 countries around the world. Domestically, the network encompasses more than 1,000 markets, from large metropolitan areas to small cities and towns. A truly global network, CCIMs are a powerful force in markets large and small. When you use a CCIM, you choose a trusted community of real estate professionals that are consistently sought for their dependability, intelligence, success and confidence.

• GAS STATIONS • RESTAURANTS

• • • • • •

COMMERCIAL INVESTMENT RETAIL OFFICE LAND-ACREAGE DEVELOPMENT

STEVE GANT, CCIM, MAI Charlotte, Desoto, Lee & Sarasota Counties

Steve is a Charlotte County native and commercial real estate expert with 21 years of experience. Local Knowledge. Expert Qualifications.

RIVERSIDE REALTY SERVICES, LLC

941-628-2625 steve@riverside-services.com www.riversiderealtyservices.com

• • • • •

OFFICE RETAIL INDUSTRIAL LAND LEASING

MARYANN MIZE, CCIM Lee, Collier & Charlotte Counties Senior Vice President and Senior Credit Officer. More than 30 years of commercial lending experience. CCIM Senior Instructor and 2019 Florida CCIM Chapter Southwest District Treasurer.

CHARLOTTE STATE BANK & TRUST

941-624-1916 mmize@csbtfl.com www.charlottestatebankandtrust.com

• FINANCING OF COMMERCIAL REAL ESTATE

JANUARY 2019

Southwest Florida BUSINESS TODAY

Page 11

COMMERCIAL RE MARKET A look at commercial real estate trends and topics in Southwest Florida

Choose the right commercial professional for you DAVE WALLACE, CCIM, SIOR

THERESA BLAUCH-MITCHELL, CCIM

Collier County

Lee, Collier, Charlotte & Sarasota Counties SWFL CCIM Past President, Florida CCIM Membership Chair, CCIM International Committee. Hablo Español. • • • •

SPERRY COMMERCIAL GLOBAL AFFILIATES

INVESTMENT RETAIL OFFICE INDUSTRIAL

239-265-2628 theresa@ccim.net www.sperrycga.com

ERIC DEYOUNG, CCIM Charlotte & Sarasota Counties Vice President of Commercial Lending with more than 12 years experience. Graduate of University of Florida, MBA at FGCU. Active volunteer and community leader. • FINANCING • COMMERCIAL

CHARLOTTE STATE BANK & TRUST

941-223-3179 edeyoung@csbtﬂ.com www.charlottestatebankandtrust.com

ARTEM NASHMAN, CCIM Fort Myers, Naples, Sarasota, Tampa & Orlando Artem has been globally recognized by Commercial Investment Real Estate Magazine as one of the top 10 CCIMs under 30. 2019 Florida CCIM Chapter Southwest District Secretary.

LANDQWEST COMMERCIAL

• • • • •

OFFICE INVESTMENT LAND RETAIL INDUSTRIAL

239-200-6153 anashman@LQwest.com www.lqwest.com/agents/artem-nashman

RANDY KRISE, CCIM Lee, Collier & Charlotte Counties Broker/owner of Krise Commercial Group and 2016 Florida CCIM Regional Vice President and Institute Board Member.

KRISE COMMERCIAL GROUP

• • • • •

239-633-8672 randy@krisecg.com www.krisecg.com

COMMERCIAL VACANT LAND INVESTMENT RETAIL INDUSTRIAL

HEATHER RIDEOUT, CCIM Charlotte & Lee Counties Heather comes to the commercial real estate world with over 20 years experience in small business consulting, as a successful small business owner and as a real estate investor.

KW COMMERCIAL PEACE RIVER PARTNERS

• • • 941-979-1174 • Rideout@kwcommercial.com www.RideoutCommercialGroup.com •

HEALTHCARE HOSPITALITY INVESTMENT RETAIL OFFICE

An office, industrial and investment property specialist with more than 30 years of commercial real estate experience in successfully assisting clients with acquisitions, dispositions and leasing.

Why use a CCIM?

Naples Office 239-649-7755 dave.wallace@creconsultants.com

Lee, Collier & Charlotte Counties A partner with CRE Consultants and 15-year commercial real estate veteran, he specializes in the medical and professional office market.

CRE CONSULTANTS

239-994-3703 enn.luthringer@creconsultants.com www.creconsultants.com

“CCIM members can rely on CCIM as a single source for diverse solu�ons. The first one on that list is EDUCATION. Designees can take advantage of the ongoing opportuni�es so crucial to success for your clients in the commercial real estate field today, with the ‘Life A�er the Pin’ learning program. CCIM also offers its members many NETWORKING opportuni�es that may be of educa�onal benefit as well, offering more than just a mere social experience. These networking events also may provide the founda�on for building long-las�ng RELATIONSHIPS with fellow CCIMs who become invaluable RESOURCES for life.” - Adam Palmer, 2018 Florida CCIM Chapter President

INTEGRITY

DEBRA JOHNSON SHUEY, RPA, CP, CCIM

CCIM designees are bound to the strictest ethical guidelines and standards of practice in the industry today. In addition, each CCIM has successfully completed a graduate level program comprised of 160 hours of education. If you ask around the industry, you’ll learn that companies and other real estate professionals are more likely to seek out experts who possess the CCIM designation, as they know CCIM stands for trust, knowledge and reliability. When you use a CCIM, you choose experts with integrity. Overall, CCIM’s global network enables members to close thousands of transactions annually, representing more than $200 billion in value. But closing transactions is only part of what CCIMs can do. In addition to holding dealmaking occupations in every property sector, CCIMs are also found in’ leasing, asset management, development, lending, financing, property management, site selection and corporate real estate positions. So, whatever assistance your real estate project requires, a CCIM can help you achieve a better result. In fact, only 6 percent of all commercial real estate practitioners hold the elite CCIM designation, which reflects not only the caliber of the program, but why it is one of the most respected designations in the industry. When you use a CCIM, you choose a professional who produces measurable results.

The CCIM designation is conferred by the Chicagobased CCIM Institute, a commercial real estate affiliate of the National Association of REALTORS. Learn more about the value of working with a CCIM.

• COMMERCIAL • OFFICE • INVESTMENT

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ENN LUTHRINGER, CCIM

CREDIBILITY

• • • •

CRE CONSULTANTS

Collier, Lee, Charlotte & Hendry Started in Commercial Real Estate in 1980. She is a Certified Paralegal. A Lee County resident since 1968, she has astute knowledge of the Southwest Florida market.

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RETAIL HOSPITALITY OFFICE INDUSTRIAL LAND LEASING

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• • • • •

RETAIL OFFICE INDUSTRIAL LAND INVESTMENT SALES & LEASING

Page 12

Southwest Florida BUSINESS TODAY

JANUARY 2019

COMMERCIAL REAL ESTATE

Five CRE data fails and how to prevent them Success in commercial real estate is built on great relationships. Some of the best brokers in the field are out there making phone calls, booking lunch dates, meeting new contacts, connecting with old clients and networking with just about everyone. But behind every warm handshake, cold call and hot lead is something that often gets overlooked: great data. It may not be glamorous, but data is what makes things happen. CRE is full of data sets like property specs, financial stats, ownership history and the number of cold calls you make each day. If you’re doing data right, you see a world of connections, trends and insights that are invisible to everyone else. If you’re doing it wrong, all you see is a bunch of numbers. Your data can be extremely powerful if you use it right. But if you’re making any of these five common data mistakes, you may actually be doing more harm than good. Here’s what you should know: 1. When your data is old, you have to backtrack constantly. Imagine you’re on a call with a potential client, trying to pull up key information on a property. You open an Excel spreadsheet, but suddenly you’re second-guessing yourself. Is this the most recent file? Didn’t you just update something like it last week? You can’t quite remember, but you offer to call the prospect back once you find the newest version. Just like that, your momentum fizzles: a conversation that could have progressed eas-

It.

ily has now stalled, and while you’re tracking down your data, your prospect is tracking down a new broker. Store your data in a CRM and you’ll always have the most up-to-date info at your fingertips, which keeps conversations and deals moving forward.

2. When your data’s wrong, you lose credibility. Every successful CRE broker Guest Columnist will tell you how important it is to build trust with clients. And nothing damages trust more than giving false information—even accidentally (FYI: Excel spreadsheets are often full of errors). If clients think, even for a second, that you’re trying to mislead, trust dissolves and they’re likely to take their business elsewhere. Be known for your sterling credibility: a solid CRM system helps you keep updated, relevant, and correct data that builds your reputation as a trustworthy and knowledgeable expert in your market. BY IRENA ASHCRAFT

3. When your data’s not easily accessible, you miss opportunities daily. Please don’t tell us you’re saving your data files on your computer’s desktop. And please don’t tell us you’re jotting anything important down on a sticky-note. In order to supply your prospects and clients with the information they want when they want it (which is probably right away), opt for a

It’s Your Future. Own It.

For more business news, visit www.swfloridabusinesstoday.com cloud storage system that you can access from anywhere, anytime. 4. When your data is “dumb,” you miss key insights. Data that’s just sitting in a file or written down on a piece of paper is “dumb” data—it doesn’t provide any insight beyond its face value. Any trends or insights that could make your prospecting or sales processes more efficient could be hiding right under your nose. Intelligent CRMs can identify those trends and insights in just a few clicks, and bring them to the forefront so you can act on them right away. 5. When your data doesn’t integrate, you have to do the grunt work. You’ll get the most value out of your data if you can maximize it to increase your efficiency with things like automated emails and comprehensive analytics. If your data storage tool doesn’t “talk” to any other programs, you’ll be the one stuck manually copying and pasting everything again and again. That not only wastes your time, it creates room for error. Consider using a CRM that not only stores all of your data in one place, but integrates with the software and services you use most. Irena Ashcraft is a writer with Apto Commercial Real Estate Blog. Learn more at apto.com.

COMMERCIAL REAL ESTATE

EHC breaks ground on apartment complex

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EHC, a construction company that provides pre-construction, earthwork and infrastructure services, announced breaking ground on The Crest at Bonita Springs with new client The Residential Group. The Crest at Bonita Springs is an apartment community that will consist of 264 units in six three-story buildings on 21 acres. TRG, an Atlanta-based multifamily investment, development, construction and management company, awarded EHC the multimilliondollar development project. EHC is providing lake excavation, erosion control, clearing, parking lots, subgrade base, asphalt, striping, traffic signs, concrete curbs and sidewalks, underground storm drainage, sanitary sewer, water and fire, and final grade for the community.

According to TRG, the Bonita Springs property is equidistant to Naples and Fort Myers employment centers and will have main thoroughfare to Gulf Beaches, along with easy access to the Interstate-75 interchange. Starbucks, Five Guys, Home Depot, Culvers, Waﬄe House and Speedway are among the existing and planned retail outlets within walking distance. Community amenities include a leasing center, exercise facility, business center, pool, natural preserve and two lakes. EHC also completed development of Mirror Lakes, a shopping center in Lehigh with Jensen Underground Utilities and the Sales Center for Siena Lakes, an independent living and continuing care retirement community in Naples, with Kaufman Lynn Construction for Erickson Living.

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JANUARY 2019

Southwest Florida BUSINESS TODAY

COMMERCIAL REAL ESTATE

Page 13

COMMERCIAL REAL ESTATE

Top 10 reasons for due diligence Collaborative workspace

Even if you are a sophisticated and seasoned commercial property owner, each transaction and each property is different and commercial experience alone does not replace the need to thoroughly perform due diligence on each property being purchased. The following questions should be answered by your due diligence:

Are there any title concerns? A thorough review of the title commitment and all of the documents referenced therein is critical. Title concerns may include: mortgages, liens, judgments, assessments, probate issues, pending lawsuits or foreclosure suit. Are there any survey concerns? Order survey as soon as possible after the contract is signed. Review the survey in conjunction with the title commitment to determine if there are easements, encroachments or other matters that need to be addressed. Is there insurable access to the property? Existence of a road is not the same as insurable access. Lack of insurable access may create future problems if you attempt to develop, finance or sell the property. Do current zoning and land use classifications allow you to use the property as you intend and what are the permitted uses for adjacent properties? Request a zoning verification letter from the applicable municipality. Are there any environmental concerns? Perform a Phase I environmental assessment inspection. Obtain a Phase II environmental assessment inspection depending upon Phase I report. Do not assume because the property has never been used as a gas station, dry cleaner or similar business with higher likelihood of contamination that there are no environmental concerns. Are there code enforcement liens, expired permits, unsatisfied development obligations or unpaid municipal liens? Some code enforcement liens may

We Deliver...

attach to all property owned by the seller, called “cross attaching”

Are there any major issues with the building, roof, electrical, plumbing, fire sprinklers, elevator, BY TYRA HVAC, etc? READ Obtain inspecGuest Columnist tions to evaluate any repairs that may be required. Are there tenants? Review each lease agreement to determine landlord and tenant obligations, if the tenant has a right to purchase or relocate, if tenant has exclusivity, if tenant paid a deposit or advance rents. Obtain tenant estoppel letter. Obtain rent roll. Are you purchasing a business along with the real property? If so, the business will have its own laundry list of due diligence matters you must investigate, which are beyond the scope of this article. Real property related concerns to be considered may include the type of business licenses required. How will you take title to the property? Determine before closing to avoid incurring additional costs post-closing, such as additional documentary stamp tax and related costs. Contract should allow buyer to assign the contract. Bottom Line This list is not exhaustive but illustrates the depth of due diligence that should be performed before purchasing commercial real property to can fully evaluate the property and the risks and costs involved with the purchase of the property. Tyra N. Read is a partner and real estate attorney with Becker. She handles a variety of commercial and residential real estate transactions including sales, acquisitions, leasing, financing and closings. She can be reached at (239) 628-4937 or tread@beckerlawyers.com.

News. Southwest Florida Business Today is the region’s best source of local business news serving the tri-county area of Collier, Lee and Charlotte. This monthly newspaper is a niche publication direct-delivered to business decision makers. We also have a complete online edition at swﬂoridabusinesstoday.com, as well as a digital version of the newspaper available. Every issue we strive to better meet our readers’, advertisers’ and potential advertisers’ needs. If you want to reach business owners, we deliver your business, through your advertising message, directly to them.

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to open in Bonita Springs The Two39 Group announced the planned opening of Two39 Work, a world-class coworking space in Bonita Springs. Two39 Work will provide workplace solutions for freelancers, start-ups, entrepreneurs and growth stage businesses. Designed to meet the needs of professionals and organizations of all sizes, Two39 Work will offer a variety of offerings from single monthly desk memberships to large private suites. Two39 Work will offer its members a comfortable work environment with fast internet access, connectivity and power at an allinclusive price. With over 15,000 square feet, Two39 Work members will also have access to a large conference center, meeting rooms, private phone booths, collaborative work areas, mentor library, game room and café lounge. Two39 Work is founded on the notion that coworking is more than just wifi and free coffee, officials said. The Two39 Work value proposition asserts that professional, personal and social benefits are added bonuses from working within their environment. In addition to providing a stimulating, inspiring and enjoyable work environment, membership will lead to new business collaborations, increased productivity and an

expanded business network. Conveniently located in Bonita Springs at the Walden Center on US 41 with easy access to the Coconut Point shopping area and centrally located in the rapidly growing Estero/Bonita Springs areas. Two39 Work will focus on providing members a workspace consistent with today’s best corporate cultures. “Leadership, communication, dynamic human capital, outstanding benefits and a productive, comfortable environment are the ‘secret sauce’ for building successful company culture,” Brian Samelson, one of Two39 Work’s founders, explained. “Further distinguishing Two39 Work will be its commitment to the community. Starting with our name and reflected in everything we do, we believe in Southwest Florida.” “In launching Two39 Work, we have consulted area businessmen, educators, and leaders to ensure that we launch Two39 with an offering that best serves the needs of the strong entrepreneurial community of Southwest Florida.” Two39 Work is accepting membership applications now and plans a soft opening of Jan. 1 and an Official Grand Opening slated for Feb. 1.

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Page 14

Southwest Florida BUSINESS TODAY

JANUARY 2019

GUEST COMMENTARY

How can vlogging benefit my business?

Across the world, businesses large and small have one goal in common: increasing their consumer base. While there are myriad ways to do that, a business owner’s priority should always be to stand out from the crowd. Business owners often question the right way to explain their services to their audience without overloading them with information. The answer is simple— vlogging. A vlog is a blog in video form. In today’s world, companies have only seconds to engage with online users. People are always on the go and rarely have time to sit down and read through an extensive article. Video allows business owners to provide quality and informative content while building a more personal relationship with the consumer. Online videos will make up more than 85 percent of all consumer internet traffic in the U.S. by 2020, according to Cisco. That means it’s vital for business owners to get with the times—now!

It’s innovative Vlogging allows business owners to increase their brand awareness and give their business a personality. By putting a face and voice to their business, they will be able to create an emotional connection with the vlog viewer. The more human the company appears, the more trustworthy it becomes. Business owners can take this opportunity to show off their expertise. Share knowledge by giving insider tips. Share testimonials. Tell the story of the brand. That’s the beauty of vlogging—it can be anything you want it to be.

If you build it, they will come Another great thing about vlogging is it’s easy to share. Business owners will have a golden opportunity to upload the vlog to their website, post it on a business Facebook page, Instagram and YouTube channel, and have colleagues share it too! Anyone with internet access could be a viewer; it’s a valuable chance to gain a new audience. If enough people share the video, it might just go viral. SEO loves video If viewers are enjoying the video, there is a great chance Google loves it too. When business owners post a vlog, they’re putting up new content on the internet and social media that will allow people to “like” or “share.” This will give their content a higher ranking in search engine results. Search engines like Google are placing more emphasis on video, according to Brainshark. Nearly 50 percent of internet users look for videos related to a product or service before visiting a store, according to Google‘s own research, and 62 percent of Google universal searches include video. For more information on how to start a vlog, contact CONRIC PR & Marketing at (239) 690-9840 or visit their website at CONRICPR.com. CONRIC PR & Marketing provides creative public relations, marketing, graphic design, advertising, writing and publishing services to individuals and businesses in the Southwest Florida community. Contact the team at (239) 690-9840.

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Photo by Nancy Beecher Florida Green Building Coalition President Jeremy Nelson (left), Executive Director C.J. Davila and Developer Syd Kitson of Kitson & Partners, developers of Babcock Ranch.

‘Florida Green’ Certification presented to Babcock Ranch

Southwest Florida’s Babcock Ranchhas been certified a Platinum “Florida Green” community by the Florida Green Building Coalition, the leading certifier of green projects in the state. Developer Syd Kitson of Kitson & Partners, which promised Babcock Ranch would have sustainability designed into the entire fabric of the community, was recognized during FGBC’s Annual Meeting held in Orlando. Kitson has been planning Babcock Ranch for more than a decade. With over 18,200 certifications since being founded in 2000, FGBC is the largest certifier of land developments, green homes, high-rises and local governments in Florida. To date 97 land developments are either registered or certified “Florida Green.” Unlike other certification programs, FGBC standards are the only standards developed with Florida-specific criteria that addresses the state’s hot-humid climate, environment, topography and natural disasters. Scoring 151 points, Babcock Ranch achieved Platinum, the highest level of certification. Babcock Ranch’s key design and development strategies support this initiative including solar energy, water efficiency, native plants and materials,

For more business news, visit www.swfloridabusinesstoday.com sustainable local materials, tree preservation and relocation. Adjacent to the 73,000-acre Babcock Ranch Preserve, 50 percent of the town’s footprint is set aside for green spaces. The town also has the one of the state’s largest photovoltaic solar energy generation fields, with 343,000 panels laid out along 350 acres, equaling 200 football fields. Babcock Ranch features six builders, including Pulte, Lennar, Florida Lifestyle Homes, Homes by Towne, Fox Premier Builders and Stock Development. Lyons House/Arthur Rutenberg Homes and Solara Homes by Banroc will soon start to build to FGBC standards in the 17,788 acre-community just north of Fort Myers. Babcock Ranch’s FGBC Green Team included architect Scott Merrill, Merrill Pastor & Colgan Architects, Vero Beach; FGBC Designated Professional Jennifer Languell, Trifecta Construction Solutions, Fort Myers; land planner William Waddill, Kimley-Horn and Associates, Port Charlotte, and FGBC Evaluator Chris Wrenn. FGBC’s process, including low builder fees and guidance throughout the green building process, is often more affordable than other certifications. The free market aspect of FGBC certifiers keep costs low.

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JANUARY 2019

Southwest Florida BUSINESS TODAY

Page 15

2019 NSBW award submissions due early January

The South Florida District Office of the U.S. Small Business Administration is seeking nominations for the 2019 National Small Business Week Awards Program. For the South Florida District, NSBW award nominations are being accepted in the following eight categories: Small Business Person of the Year, Small Business Exporter of the Year, Veteran Business Owner of the Year, Minority Business Owner of the Year, Woman Business Owner of the Year, Youth Entrepreneur Small Business Owner of the Year, Small Business Community Partner of the Year, and Small Business Advocate of the Year. Email submissions of SBA National Small Business Week Award forms will not be accepted as they contain personally identifiable information (PII). All nomination packages must be hand delivered or mailed to the local SBA Office no later than 3 p.m., Wednesday, Jan. 9. Mailing address: U.S. Small Business Administration, South Florida District Office, Attn: Heather Hines, 51 SW 1st Ave, Suite 201, Miami, 33130. Business owners and advocates can self-nominate. Descriptions of the award categories and instructions on how to nominate a person can be found online at the South Florida District Office Website. The website also includes other national-level small business award categories and nomination guidelines. The winners of the State of Florida Small Business Person of the Year and the Florida Small Business Exporter of

2019 SOUTH FLORIDA NSBW CATEGORIES Small Business Person of the Year Nominees from each of the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands and Guam will compete for the title of the National Small Business Person of the Year, SBA’s signature award. Nominees must demonstrate success in business as well as contributions to their local communities. Small Business Exporter of the Year SBA’s Small Business Exporter of the Year recognizes individuals for their success and dedication to exporting products or services. Veteran Business Owner of the Year: This award honors an individual who owns and operates (or bears principal responsibility for operating) a for-profit small business and who has been discharged or released from active duty in the Armed Forces under honorable conditions. Nominees must have been in business a minimum of three years. Minority Business Owner of the Year This award honors a minority who owns and operates (or bears principal responsibility for operating) a for-profit small business. Nominees must have been in business a minimum of three years. Woman Business Owner of the Year This award honors a female who owns and operates (or bears principal responsibility for operating) a for-profit small the Year awards will advance to the national competition and be recognized during the National Small Business Week Awards Ceremony in Washington, D.C., May 5 - 11. Visit the National Small Business Week Awards website www.sba.gov/ nsbw to download forms, criteria and

business. Nominees must serve as a majority owner (51 percent or more) and operates or bears principal responsibility for operating a small business with a minimum three year track record. Youth Entrepreneur Business Owner of the Year To be considered a young entrepreneur, the nominee must be a majority owner (51 percent or more) and operator or bear principal responsibility for operating a small business with a minimum three year track record, and who will not have reached the age of 30 by April 1. Small Business Community Partner of the Year This award honors any organization that assists entrepreneurs through advocacy and other efforts that raise the profile, effectiveness, health, vitality, growth or expansion of small businesses in the SBA’s South Florida District Office territory. These efforts can target specific segments of the small business population such as women, veterans, minorities, exporters, and those small firms located in rural communities. Small Business Advocate of the Year This award honors an individual that assists entrepreneurs through advocacy and other efforts that raise the profile, effectiveness, health, vitality, growth, or expansion of small businesses in the SBA’s South Florida District Office territory. These efforts can target specific segments of the small business population such as women, veterans, minorities, exporters and those small firms located in rural communities.

guidelines for submitting a nomination. Additional categories for national consideration are also available at this website. Since 1963, National Small Business Week has recognized the outstanding achievements of America’s small businesses for their contribu-

tions to their local communities and to our nation’s economy. For over 50 years, SBA will continue its tradition in honoring the nation’s 28 million small businesses. More information can be found at the SBA’s National Small Business Week website at www.sba.gov/nsbw.

Voters passed taxes through Southwest Florida ballot measures

Florida TaxWatch’s Voter Guide Wrap-Up released a retrospective on local tax action in Florida on Election, including voter referenda in Southwest Florida. Charlotte County School Property Tax – Voters approved a onemill property tax increases referendum to raise $18 million a year for schools. Property owners will pay an extra $100 for each $100,000 of taxable value. The tax will last for four years.

Collier County Infrastructure Sales Tax – Collier voters agree to increase their sales tax from 6 percent to 7 percent to fund 18 projects. The tax will last for seven years or after it brings in $490 million, whichever happens first. Lee County School Sales Tax - Effective January 1, a new half-cent sales tax will take effect and it will last for 10 years. The school district estimates the tax will

raise about $59 million a year for the construction, maintenance, and renovation of schools, school safety initiatives and technology projects. Cape Coral Residents voted to pay for a $60 million 15-year bond issue to add more parks and recreation amenities. Property owners will pay $40 per $100,000 of taxable value per years for the creation of three community parks, seven neighborhood parks, one environmental park, and upgrades to Cultural Park.

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Southwest Florida BUSINESS TODAY

JANUARY 2019

Five biggest data breaches all offer lessons

It seems like a day doesn’t go by without news long since gotten rid of their breaking of another data breach plaguing another Myspace accounts, many studies company. A recent breaking news story reported that show at least half of online users data was stolen from up to 500 million guests who use the same password for all of made reservations at Marriott’s Starwood properties. their accounts. That meant there Cybersecurity experts claim that during a smaller was a big risk of those Myspace 2015 breach, Marriott should have noticed unauusers’ other accounts being comthorized access to the Starwood network that had promised. been there since 2014. Lesson learned: Change your It’s hard not to be shocked by the number of peocompany passwords frequently ple affected in breaches like this one. Thankfully, and don’t use a single password BY R. MARSHALL those numbers and news stories offer more than just STEVENS for all of your accounts. shock value. They also offer valuable lessons to be Under Armour: In February Guest Columnist learned—lessons to take into consideration as you 2018, 150 million usernames, work to protect your company’s and your customers’ email addresses and/or hashed passwords were data. In the case of the Marriot data breach, the les- stolen from the users of MyFitnessPal—Under Arson to be learned is that data breaches should not go mour’s food and nutrition app and website. Most of undetected for four years. the passwords stolen had a hashing function called Here are five other lessons to be learned from the “bcrypt” that converts the passwords to an unintelfive biggest data breaches: ligible assortment of characters. A news release was Yahoo: 3 billion user accounts were breached in put out by the company regarding the issue just four 2013, making this the largest data breach at the time days after learning of the breach. and still to this day. That ginormous number (which Lesson learned: Encrypt company and customer just so happens to also be the number of all existing passwords whenever possible. Yahoo user accounts at that time) was not disclosed eBay: 145 million eBay users’ data were breached until three years later, in October 2017. User names in 2014. Information that was compromised includand email addresses were stolen, but passwords ed names, date of birth, addresses and passwords. were not. While eBay owned up to the breach and notified usLesson learned: Don’t wait three years or even ers in a satisfactory amount of time, some users had three months to notify your stakeholders of a data difficulty renewing their passwords after the breach, breach. which caused frustration. Myspace: Names and passwords from more than Lesson learned: Make sure the systems you have 360 million Myspace accounts prior to June 2013 in place (like password renewal) to negate data were compromised. This didn’t become public in- breach fall-out is glitch-free before you find yourself formation until May 2016. While many people had having to use it.

Equifax: The personal information of 143 million consumers, and the credit card information of 209,000 consumers was exposed in 2017. Equifax notified the public two months after they found out about the breach. They set up a website so people could check if their data had been compromised and they also offered free credit monitoring. Lesson learned: Find ways to make the situation right, like providing the resources that Equifax did. Keep these lessons in mind if your company anticipates the risk of a data breach at some point in the future. Let’s face it. Most if not all companies should anticipate the risk of a data breach. And remember, it’s not just the data sitting on your desktop that you should be concerned about. Many companies have data stored offsite, and that data is just as vulnerable to attack. Choose an offsite storage company whose employees have undergone extensive background checks, signed a confidentiality agreement and completed comprehensive privacy training. If you have records that contain Protected Health Information, they should be stored in an electronically monitored, secured facility with limited access as privacy regulations require. Don’t just be shocked by data breach stories; learn from them and do everything possible to keep your data safe and secure. In the event that company or customer data is breached, look to the biggest data breaches of all time for lessons on what to do and what not to do as you’re handling the fall-out. R. Marshall Stevens is co-owner of Stevens & Stevens Business Records Management, which serves Southeastern United States with locations in St. Petersburg – Clearwater and Tampa.

Fed interest rates, fluctuating stock market worth watching in 2019

This time every year, cable news shows give a microphone to so-called “experts” who prognosticate on the year ahead for Wall Street. They’ll offer bold predictions and speak with authority, but may or may not rely on facts to back up their assertations. To quote the late economist John Kenneth Galbraith: “There are two kinds of forecasters: Those who don’t know and those who don’t know they don’t know.” While I must admit to an aversion of explicit economic or stock market forecasts, one of the lessons learned during the 2007-09 financial crisis was that investors should pay careful attention to the broader macro economy. For 2019, I do see areas of concern that investors should at least acknowledge. When thinking through broader economic themes, remember that prices of stocks are ultimately determined by two factors: interest rates and expected operating profits. This past year, we’ve seen several periods of enhanced stock price volatility. These fluctuations have been pronounced against the muted volatility that’s been a feature for much of the current bull market. Investors have been especially, and understandably, spooked by the prospect of higher interest rates, but that’s not the only area of concern. The Federal Reserve is expected to continue to “nor-

malize” short-term interest rates by increasing the target for the federal funds rate, which is the rate banks charge each other on overnight loans. This rate tends to increase other interest rates throughout the economy. Higher interest rates can impact both variables in the stock price equation, and also lead to lower sales and profits, especially for interest-rate sensitive industries BY MATTHEW such as new home construction and DEPAOLA automotive sales. When interest Guest Columnist rates rise, investors tend to place lower earnings multiples on stocks while lower risk alternatives like bonds become more attractive. Warren Buffett often says the key to investment riches is to be greedy when others are fearful and fearful when others are greedy. The Standard and Poor’s 500, a popular stock index, is selling at a price-to-earnings multiple of over 20, implying a less than 5-percent earnings yield. Similarly, yields on commercial real estate properties are remarkably low, and with asset prices at their current levels, investors should hardly be salivating.

For more business news, visit www.swfloridabusinesstoday.com Here in Southwest Florida, we seem to believe demographic tailwinds insulate against negative consequences of higher interest rates and declining asset prices. However, the retirement demographic that fuels tourism and housing demand is the same demographic whose purchasing power is most sensitive to asset prices. In the event of flat or falling asset prices, I would expect purchasing power throughout our local economy to taper. Investors should not expect much help from the Federal Reserve either. With an economy at full employment and interest rates at low levels, the Federal Reserve has little room to maneuver. The Fed’s current position contrasts with the period between 2001 and 2004, when sharp rate reductions fueled the home construction and refinancing boom. I’m not suggesting asset prices will fall, but investors should recognize it’s a possibility. Matthew DePaola is co-founder and chief investment officer for Tortuga Capital, a value-oriented investment management firm based in Fort Myers. To learn more, visit TortugaCapital.com or contact him at (239) 204-9059.

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CHEF raises scholarship funds, announces directors

CHEF, the Culinary & Hospitality Education Foundation of Southwest Florida, announced new directors, new officers, and the date of its annual gala event in 2019. CHEF was established in 2004 as a not-for-profit organization with the mission to raise scholarship funds to benefit Collier and Lee County high school students, allowing them to pursue careers in the culinary arts and hospitality industries. “With tourism being Southwest Florida’s largest industry, we need more skilled workers, so our mission furthers a solution through scholarships toward continued education, internship and mentorship programs,” said Crave Culinaire catering and event company founder and CHEF Board Member, Chef Brian Roland. At the annual CHEF Board meeting, three new Board members were elected. They are Beth Oliver, director of Marketing for Offshore Sailing School in Fort Myers, and former vice president, corporate marketing for beverage liquor marketer Hiram Walker/Allied Domecq in Detroit; Chef Ruth Man-

Photo by Ivan Seligman Diane McCaw, Dan McCaw, Taryn Caﬁero, Sherry Mills and David Mills attend CHEF annual gala. chester, returning CHEF Board member cers. Taryn Cafiero succeeds Jeannette and former owner of the Bramble Inn in Boucher as President. Cafiero is a ReBrewster on Cape Cod, Mass., and now altor with Premier Sotheby’s Internaa private caterer living in Naples; and tional Realty and member of Chaîne Jerry George, retired pharmaceutical des Rôtisseurs Naples. Boucher is the founder of CHEF executive and Department of Defense contractor who relocated to Naples and and served as president from 2004mentors high school students through 2008, then returned to serve as President again. Boucher also served as the the Immokalee Foundation. CHEFs Board elected four offi- president of Chaîne des Rôtisseurs,

COMMERCIAL REAL ESTATE

South Cape streetscape project nears finish line We are excited about the nearly completed streetscape project on SE 47th Terrace in the South Cape. This legacy project designed to transform the South Cape includes utility and stormwater improvements, fiber cable and 18-foot sidewalks that will allow for outdoor dining. Additional improvements include decorative elements such as brick pavers, planters, decorative lights and street furniture. The City Council and Cape Coral Community Redevelopment Agency believe these public improvements will stimulate private investment. “As we near the end of this construction project, we are already beginning to see local business owners along the corridor making improvements to their buildings. Others are making plans to expand and national developers are showing an interest. It is a proven strategy which has been very successful in other communities,” said CRA Chair Stacy LoMonaco. In addition to the redevelopment, we are excited about creating a destination that helps define our community. Places that contribute to strong

quality of life add to a community’s economic vitality. Research shows that creating a public space where people can engage in activities and social interaction is a significant factor in attracting new commercial and residential growth. As we close out the end of this year and the completion of this project, we look forward to experiencing the BY TERRI transformation of this street HALL into a booming, energetic desGuest Columnist tination for residents, business owners and visitors. We hope to see you at our New Year’s Eve celebration in the South Cape to ring in 2019 and welcome the exciting progress in our community. Terri Hall Interim Economic Development Manager for Cape Coral. Contact her at (239) 574-0444.

Naples, for three years, and served on the Chaîne National Board until 2005. Ellen Granger was elected Vice President, Bill Dunlap was re-elected Treasurer and Jeannette Boucher will serve as Secretary. The CHEF Board hosted a special fundraising gourmet wine dinner at acclaimed Sails Restaurant in Naples on October 29. Also at the October 29 Board meeting, Board member Chrissie Forbes, ASID Designer and President of Accessories Etc. of Naples, and committee chair for the annual CHEF fundraising Gala, confirmed the date of April 3, 2019, to honor CHEF Board member and Executive Chef of Kensington Golf & Country Club of Naples, Chef Ralph Feraco. As president of the American Culinary Federation chapter for Naples & Marco Island, Chef Feraco was honored nationally in 2017 with the Dr. L.J. Minor Chef Professionalism Award, presented to the chef who exemplifies the highest standard of professionalism. The April 3 Gala will be held at Kensington Golf & Country Club in Naples at 6:30 p.m. with a special VIP wine tasting from 5–6 p.m.

COMMERCIAL REAL ESTATE

Marlins Plaza fully leased

Cushman & Wakefield Commercial Property Southwest Florida announced Marlins Plaza is fully leased and occupied. The 14,665-square foot, mixed-use commercial building, located on Six Mile Commercial Court, was completed in March. With suites ranging from 1,563 square feet to approximately 1,690 square feet, the plaza accommodate industries like food, medical and professional. Tenants include Marlins Brewhouse, Chronic Tacos, Dunkin’ Donuts, Lena’s Nail Spa, The American Grilled Cheese Kitchen, Slurping Dragon and Knox Cannabis Dispensaries. Cushman & Wakefield Commercial Property Southwest Florida has been instrumental throughout the projects’ life cycle, from scouting the location and negotiating the land purchase to managing and leasing the property. Shawn Stoneburner and Gary Tasman handled the project with support from Richard King and his property management team. The plaza is within three miles of CenturyLink Sports Complex, Six Mile Cypress Slough Preserve, Lakes Regional Park, residential communities, and dining and shopping venues. 111,000 people live within a five-mile radius of the 2.6-acre plaza.

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COMMERCIAL REAL ESTATE

Luxury the main feature at revamped Marquee Cinemas Marquee Cinemas, located in the Coralwood Shopping Center in Cape Coral, has completed renovation of the Coralwood 10 location. Marquee’s new features will offer Cape Coral and surrounding areas a one-of-a-kind movie experience. Each auditorium now features oversized, luxury electric-powered recliners featuring roomy armrests with cup holders and an elevated footrest. With the new seating comes the inclusion of reserved ticketing, allowing patrons to

purchase their seat prior to the movie either online, at the box office or at Marquee’s ticketing kiosk. Guests can purchase tickets, grab dinner at one of Coralwood’s diverse eateries and return to find their seat waiting for them. Additionally, lobby and theater interiors have been updated featuring a warm, contemporary, city-chic color palate. “The new upgrades offer patrons a premium experience not currently offered in the market. We want the new-

ly-renovated Marquee Cinemas to be a welcome retreat for guests to relax and feel right at home as they enjoy a movie,” said Robin Shumate, director of marketing for Marquee Cinemas. “Our goal is to provide our customers with the best in entertainment. We are proud to have served the Cape Coral area for the last 15 years.” Jill Gull, vice president of Stiles Realty, was an integral factor of securing Marquee Cinemas in the center. “We are pleased to have a long-lasting

relationship with Marquee Cinemas and are excited for their renovation,” she said. “We wish them continued success at Coralwood Center.” Coralwood Shopping Center is a 343,000-square foot regional shopping center located at the corner of Del Prado Blvd. and Veteran’s Parkway in Cape Coral, situated on the Gulf Coast between Sarasota and Marco Island. It is anchored by JCPenney, LA Fitness, HomeGoods, Bealls Outlet and Ulta Beauty.

Alico Road/Ben Hill Griffin Parkway Corridor (of which 1.2 million square feet is Alico ITEC Park) and currently offers 0.5- to 40-plus-acre lots (starting in the mid-$100s) to businesses searching for an upscale location: • Home to Florida Gulf Coast University’s 25,000-square-foot Emergent Technologies Institute, a technology incubator for growing entrepreneurs and engineers • Across from Esplanade Lake Club and WildBlue (combined Solar panels have been installed to provide sustainable infrastructure at the 333,936 square feet of commercial/ soon-to-debut Alico ITEC Park. retail space; combined 3,046 resi- way, I-75 and Three Oaks Parkway feet can be retail on Alico Road frontdences) • Approximately 550,000 workers age (lots 1-9) • Within 10 minutes of Southwest living within 30 minutes of site • Restrictive covenants providFlorida International Airport, Florida • The mixed-use property is also ing architectural control and property Gulf Coast University and Miromar positioned to be Southwest Florida’s owner investment protection Lakes Beach & Golf Club premier business park, with: • Security cameras throughout • Three major roads that provide • 1.2 million square feet of indus- common areas ease of access for north/south con- trial space, of which 240,000 square • Eco-conscious features, such nectivity — Ben Hill Griffin Park- feet is commercial and 50,000 square as a solar bank for sustainability and

savings, including recently installed solar panels powering the on-site construction trailer • Network speeds in excess of one gig “ITEC LLC began construction on Alico ITEC Park in the third quarter of 2017. I purchased it with a vision for bringing a new type of facility to thousands of people who are and will continue to make great use of this up-and-coming corridor, as well as businesses who serve both Lee and Collier counties,” Hardy said. “As it is, Collier County has little industrial space, which is very expensive. Our location, positioning and pricing will be attractive to both Lee and Collier business owners. Now, entrepreneurs can be where their clients are, while working in a location that breaks the typical industrial/business park stereotype. With all the progress being made on Alico ITEC Park, we look forward to a very successful New Year.”

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