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CoStar Power Broker Awards 2018

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FORT MYERS, Fla. (May 17, 2018) – CoStar names Cushman & Wakefield | Commercial Property Southwest Florida, LLC 2018 Power Broker in every category. Cushman & Wakefield | Commercial Property Southwest Florida, LLC designated Power Brokers named top leasing firm and top sales firm categories for seven (7) plus years in a row. Gary Tasman, CEO & Principal broker named Top Office Leasing Broker, Top Retail Leasing Broker, Top Industrial Leasing Broker and Top Sales Broker. Shawn Stoneburner, Senior Director named in Top Office Leasing Broker, Top Industrial Leasing Broker and Top Sales Broker. Gretchen Smith, Associate named Top Office Leasing Broker and Top Retail Leasing Broker. Gary Tasman, Principal and CEO of the firm said, “Our great success comes from great teamwork, which requires contribution, collaboration, cooperation, communication and commitment.” For more information or to learn more about Commercial Property Southwest Florida, please contact Gary Tasman at gtasman@cpswfl.com or visit www.cpswfl.com.

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Multifamily Land Acquisition Report

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Multifamily housing continues to be one of the most successful commercial real estate categories since the economic rebound. While one-quarter of renters lost their homes due to foreclosure or are shackled by student debt and a tight job market, others are making a conscious choice to rent. For those considering multifamily investment or development, now may be the time. View the full report from Gary Tasman here:Multifamily Land Acquisition Report

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Cushman & Wakefield Commercial Property Southwest Florida Announces Several Promotions and New Hires

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FORT MYERS, Fla. (Feb. 6, 2018) — Gary Tasman, CEO & Principal Broker of Cushman & Wakefield Commercial Property Southwest Florida, announced that the firm has promoted Heather Adams to Brokerage Operations Manager and Claire Meyer to Director of Research, as well as welcomed two new employees,Mandy Bacchas and Tamara Roach, who joined the firm as Staff Accountant and Real Estate Marketing Assistant respectively. The firm closed the year with record activity and overall growth in business in all departments facilitated the need for increased staff. Adams will be responsible for providing executive support to the CEO and brokerage department; developing and implementing processes, policies and procedures, leading office and administrative support staff, overseeing marketing execution activity and broker communication to clients, as well as facilitating LOIs, leases, contracts, amendments and listing agreements. A vital staff member of Cushman & Wakefield Commercial Property Southwest Florida since 2016, Adams has a 13-year background in facilities and property management. Prior to that, she held a variety of positions within the real estate management industry, including Real Estate Services Administrator, Property Manager and Business Manager, as well as Executive Administrator. Meyer will be responsible for generating marketing proposals, overseeing the broker’s opinion of value (BOV) process, marketing research, and delivering market reports and analytics. An employee of the firm since 2016, Meyer has over 10 years of experience in the real estate research field. Prior to joining Cushman & Wakefield Commercial Property Southwest Florida, she spent eight years at CoStar Group as a Research Analyst, where she oversaw high-profile portfolios in various markets across the country. As Staff Accountant, Bacchas will be responsible for preparing financial reports, onboarding new accounts, overseeing tax filings, managing rent collection, preparing property budgets and reconciling accounts, as well as managing and maintaining property reference files. She has a decade of accounting experience, having worked in a variety of industries. Most recently, she spent one year at Carstar as an Accounting Manager, performing reconciliations for three locations. As Real Estate Marketing Assistant, Roach will be responsible for managing the in-house design of marketing collateral, maintaining social media accounts, executing marketing campaigns, updating property listings and maintaining the customer database, as well as managing relationships with external agency partners. Roach has a 15-year plus background in business development and marketing. Most recently, she spent a period of time with Unique Pavers Design as Office Manager, managing the day-to-day operations. “Our employees’ diverse backgrounds and business insights have played an integral role in our success over the years,” said Tasman. “They are an asset to the organization, and we are excited about the opportunity to develop and grow our team further.” About Cushman & Wakefield Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

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Best Practices In Choosing A Property Management Company

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Choosing A Property Management Company By Gary Tasman CEO & Principal Broker, Cushman & Wakefield Commercial Property Southwest Florida, LLC If you own commercial real estate, chances are, you will require the services of an experienced, professional property management firm to represent your interest. More than 10,000 commercial property management companies do business in the U.S., ranging from single-person operations to national companies employing thousands of people. Hiring the right property management company is just as important as hiring the right broker or employee, and it can be just as challenging. Role of a Property Management Company Property management professionals perform a wide variety of tasks such as collecting rent, supervising vendors to maintain the property, ensuring vendor services are competitively bid, paying taxes on the property and providing property inspections, just to name a few. An experienced commercial property management firm does more than just manage your property. Property Managers have a fiduciary duty to the property owner and should always look for ways to increase your property’s value. Good property managers help increase your net profit by maximizing the potential rent income, and minimizing operating expenses. Caveat Emptor! In today’s complex markets, choosing the right property management firm is one of the most important decisions a property owner can make. Not all professional property management firms are the same, therefore factors such as trust, confidentiality and accuracy should be considered when evaluating a firm to determine if they are the right fit to manage your property. Above all, a good firm should have a solid reputation for providing services, as well as for honesty and integrity. You are entrusting the selected entity with your asset and all that it requires, including acting on your behalf. The firm reflects you, and in turn, influences the perception others may have of you.  As the property owner, you want assurance that the firm you hire has your best interest at heart. A firm’s code of ethics not only applies to a property owner, but also to the tenants. Personal data of tenants will be accessible to the commercial property management firm you hire. Before considering a firm, ensure there is a policy in place as to how privacy of data is protected. Pennies matter when it comes to your business, so there is no margin for error. Inexperienced firms may exhibit rounding errors or mistakes when posting payments, which over time will add up and affect your bottom line. Financial integrity and stability play a key role in choosing the right firm. Experienced firms have internal controls established to ensure their accuracy in reporting and help safeguard your assets. Making the Right Decision While there are many strong property management firms, many have been started by principals with little management experience. When conducting due diligence, look for firms that exhibit experience in managing properties throughout different real estate cycles. A seasoned firm will provide financial stability to help guide you through good times and bad. Research internet reviews of the firms under consideration to establish they have a good standing in the community, as well as a good credit rating. A reputable firm will provide references, as well as conduct background checks on its property managers. Knowledge is power and, in this case, your best resource for making a decision on the best firm to represent your interests. Overall, the goal is to seek a firm that is capable of delivering a strategy to maximize the financial health of the property.

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Preparing for Inevitable Tech Changes to Commercial Real Estate Here in Southwest Florida

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Preparing for Inevitable Tech Changes to Commercial Real Estate Here in Southwest Florida By Gary Tasman CEO & Principal Broker, Cushman & Wakefield Commercial Property Southwest Florida, LLC Heraclitus of Ephesus once suggested that the only constant in life is change. For commercial real estate brokers, this change will occur whether they make it happen or not. However, if these same brokers would like a chance to remain top of mind and indispensable, they are best served capitalizing on any untapped assets available to them and adapting to the inevitable advancements of technology that are sweeping the commercial real estate domain and taking hold here in Southwest Florida. For example, Cushman & Wakefield is gaining much traction by posting market analytics, as well as published information regarding transactions and prospective sales, to a blog-like tab on the local chapter’s website and social media pages. Selling Yourself in Today’s Real Estate Market Targeted advertisements are already starting to appear right before consumers’ eyes, as social media platforms use personal information to deliver ads to those who want them the most. The next step will be personalized inperson ads, such as those found on LED video displays. When the time comes, brokers should know how and where to do this. The research begins now. Meanwhile, as listings continue to appear in print or online, great photography is vital to a consumer’s decision. High-resolution digital cameras, as well as drone technology, will increase image capabilities. Brokers may even consider flowing virtual reality into 3D software to alter how the consumer experiences commercial space. Those revolutionized listings can and should be sent before, during and after business hours, as Wi-Fi is continuing to take the real estate industry far beyond the physical office, a topic explored in a later section. Leveraging Technology is a Company-wide Effort Brokers can leverage their business with an invaluable network and meaningful sources of agent training and collaboration. This grants them access to a comprehensive dataset of real estate listings, transactions, agent recruitment opportunities and consumers. Those same consumers often separate brokers based on their brand, as well as the services and relationships those brokers establish. Therefore, Cushman & Wakefield has linked the national and regional projects that make up said brand to multiple platforms. This brand can be molded through technologies such as advanced analytics, cloud computing and 3D printing, as well as partnerships with existing startups. Right now, startups based on the sharing economy (renting or borrowing goods versus owning them) are disrupting the way firms apply commercial real estate. A sharing economy could generate revenues of $335 billion by 2025, eating up revenues and market share from the traditional real estate business. A partnership would allow for a new approach toward lease administration and space duration, as well as drive said company’s technological advancements forward through diversification of their core business focus without threatening the future of brokerages. This includes catering to the needs of an aging population and the increasing unpredictability of today’s consumers. Affectively Promoting Change But the question remains, how can brokers encourage their agents and clients to embrace these technological advancements? First, this network should be introduced to Apps that provide in-depth detail regarding finances, risks, property values and demographics, as well as how each of these items are critical to everyday investments. To better understand just how helpful and convenient these tools can be, brokers may want to provide both inperson and online support to staff members, depending on their needs. Also, playing up the convenience of this new technology offers one’s network a true reason to embrace it, especially as digital technology forces jobs of the future to be more flexible and connected despite the diverse age groups that fill those positions. Recently, Cushman & Wakefield tried their hand at webinars as a way of generating an interactive experience with clients and demonstrating to the in-house team that experimenting with innovative technologies can work in the firm’s favor. Going Beyond the Call of Duty With the technological shift of commercial real estate has come other types of movement that will force brokers to step outside of their job description. For example, keeping in mind the quality of infrastructure systems as they invest in urban development. Brokers should pay attention to strong telecommunications systems, such as high-speed internet, as well as strong roads and bridges and reliable and affordable energy. This includes observing the coordination between various planning teams, as well as becoming an advocate of sustainability, the circular economy, and smart solutions, especially as climate change comes even further into play. Within the last few months, Cushman & Wakefield has taken on two brokers with decades of experience in Southwest Florida real estate investments and real estate activities for regional shopping centers as a way of growing commercial property locally while considering how that property assimilates itself to various locations. Do Not Forget About Obsolete Space With the uncertain future of the real estate profession, brokers need to adopt skills far beyond what they learned in school. This includes creating one’s own job by thinking like a modern-day entrepreneur with the ability to socially interact and improve upon emotional intelligence. As hyper-connectivity and work flexibility increase, and therefore, leave a lasting impact on property prices, brokers must also consider how their traditional office space is currently being used. If brokers and agents are spending more time outside than inside, they may want to combine the spaces in which they live and work. For example, parking takes up 6,500 square miles of land throughout the U.S. Just think of how much more productive that space could be. Real estate firms and brokers themselves should look into virtual space as a way to improve the mobility of businesses and consumers, hence reducing the interdependence of physical and virtual spaces, advancing relationships, and staying ahead of the competition who may fight to integrate space when it is too late to remain a relevant company. This is a subject Cushman & Wakefield calls

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The Reinvention of Retail and how to Survive the Transition

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The reinvention of retail and how to survive the transition By Gary Tasman CEO & Principal Broker, Cushman & Wakefield Commercial Property Southwest Florida, LLC While the retail sector continues to weaken, retail giants Amazon and Walmart continue to strengthen their hold on the industry by buying, what seems like, everything in sight. The extremely competitive rivalry between the two continues to heat up with Amazon’s recent acquisition of Whole Foods. The acquisition takes aim at Walmart’s grocery business, as well as allows Amazon to establish a bigger brick-and-mortar presence. With Amazon capitalizing on Whole Foods’ large distribution and store network, other retailers will have to step up their game to survive and remain competitive. Amazon’s entry into brick-and-mortar stores along with their ability to successfully execute online sales, give them an advantage over the competition.  In recent years, top grocery chains have made major investments in online grocery services, but most are still lagging behind. Impact on Retail Industry Although this last battle involved the grocery business, the impact of the Whole Foods acquisition impacts more than supermarkets — it impacts all of retail. Recent acquisitions by Walmart including Bonobos, Jet.com and Shoebuy prove that retailers cannot solely survive through one direct channel. A multi-channel approach is the direction moving forward, and it involves a combination of both e-commerce and brick-and-mortar. As retailers transition to this omni-channel strategy, they have an enormous task to accomplish — provide customers with a seamless experience in both. Effects on Small Business With big box retailers leading the way and setting the pace, the smaller mom and pop type businesses will find it challenging to set themselves apart from the competition. Offering an online platform is necessary to survive, as well as compete, but the cost of entry is expensive. This shift will drive smaller businesses to consolidate in order to better align their strategies, refocus efforts and stay relevant. As this trend continues, the transition will see winners and losers take shape. As winners prevail, they must continue focusing on key indicators driving success including: Delivering a consistent brand promise online and in store Aligning internet strategies with brick-and-mortar strategies Delivering creativity and ingenuity to remain competitive Impact on Commercial Real Estate Market Within the retail market, we are seeing a shift in the footprint size of brick and mortar stores. Consumers are researching potential purchases online, prior to walking into the store. And with on-demand-type service (order in store, and it ships to your home or order online and pick up in store), physical locations are now becoming more of a showroom. Retail space is shifting to a smaller more local-style look and feel, eliminating the need for expansive amounts of warehouse space, thus dividing larger spaces into smaller segments to accommodate multiple business entities. With retail trends and the market shift, retail developers are not taking on new retail projects without significant pre-leasing commitments, as well as a significant entertainment/social component in that decision. Southwest Florida Outlook The retail sector of the Southwest Florida Market continues to report positive growth, with increased asking rates and decreased vacancy rates. A positive trend in absorption supports a rise in demand for retail space. Growth in the retail market is expected to continue, with an increase in population, as well as baby boomers and millennials looking for more retail options. Let us also not forget the desire to support local businesses. As this trend continues, a social component is necessary to remain competitive. Data shows that people are willing to travel to areas that provide the most enjoyment of the overall retail and entertaining experience. Fort Myers is a sought-out destination for retail and entertainment, while Cape Coral boasts numerous restaurants to satisfy any appetite. Southwest Florida’s strong pace of population growth fuels stronger demand for housing, health care, professional services and consumer spending. The influx of tourism and seasonal residents support the increasing demand for retail trade, housing and food service. This trend is evident in the decrease in vacancy and increase in overall absorption in the market. Regionalization of the Southwest Florida community is expected to grow faster than the national rate, as more businesses experience the need to serve all of Southwest Florida.

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A Regional Approach to Economic Development in Southwest Florida

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A regional approach to economic development in Southwest Florida By Gary Tasman While orthopedic surgical tool, devices and implants designer and manufacturer Arthrex got its start in Munich in 1981, its founder and president, Reinhold Schmieding, knew that to succeed in the long run, he would have to set up shop in America. His goal? To find a “resort environment” location, complete with beautiful beaches, culture, good weather, natural beauty, and shopping and dining. After searching Southwest Florida, he landed on Collier County, one of the most sought-after relocation destinations. Another global giant, information technology research and advisory firm Gartner, also scoured Southwest Florida and other states before landing on a location in Gateway in Fort Myers. While it started its operations here in 1998, it now has more than 1,000 employees, making it the company’s largest office location worldwide, exceeding even its headquarters in Stamford, Connecticut. Others who took that same cue include: • Connecticut-based The Camuto Group, formally based in Connecticut, bringing part of its footwear fashion business to Bonita Springs. • Pennsylvania-based Wawa Inc. brought several of their convenience stores and gasoline station destinations to Southwest Florida. • New Jersey transplant HERC Rentals also moved its headquarters to Bonita Springs. • And, of course, Fortune 500 company Hertz Corporation — the first major corporation to relocate to Lee County — moved into its new headquarters in Estero about three years ago. Regionalism Works in Southwest Florida Titans of industry like these and others are taking a classic regionalism approach to relocation, first taking a broad sweeping look of our area and what that means to their business, personnel and families as a region. Then, focusing in on a specific city or town in which to call home. It’s a concept that is working remarkably well for our communities, and bringing some pretty impressive players, jobs, economic impact, community philanthropy and more to Southwest Florida. Cushman & Wakefield Commercial Property Southwest Florida is seeing the impact big brands like these and others from afar are making locally as they look to secure their piece of paradise in the region. Among them: • Ameriprise Financial planners and advisors. • Konica Minolta, offering software, printers and other business solutions. • Iron Mountain, a global business offering services to store and protect business documents. Economic Development This regionalism view is a very important part of the economic development of any area, including Southwest Florida. That regional approach means Southwest Florida must continue to work on being a favorable destination, offering a diverse community appeal to continue our journey of economic development and pro-business atmosphere. There is no question that we compare very nicely, if not better, than many other regions based on a number of factors and characteristics that the regionalism approach to relocation entails. ’Best of’ Cities Southwest Florida has continually ranked high on a number of lists that measure anything from quality of life to healthy cultures to job growth. For example, Forbes recently ranked Naples No. 1 and Cape Coral No. 3 for future job growth anywhere in the United States. Forbes’ 2017 list of America’s fastest-growing cities also has the Cape Coral-Fort Myers metropolitan area the top spot. Furthermore, Moody’s Analytics expects the population of the Cape Coral-Fort Myers area to expand even faster than last year, and also projects that it will have the highest rates of employment growth and output growth this year, thanks to expanding hospitality and housing markets. Also, the Naples-Immokalee-Marco Island metro area was tops in contentment for the second consecutive year, according to the Gallup Healthways Well-Being Rankings that were made public in March 2017.  The survey says residents there feel safer than residents in any other community in the nation. Best-Performing Cities Index Another testament to the Cape Coral – Fort Myers Metropolitan Statistical Area is its No. 15 ranking in the Milken Institute’s Best-Performing Cities index of larger cities across America that came out in December 2016. The index uses metrics such as job creation, wage gains and technology developments to evaluate the relative growth of these geographical regions. MSAs on the list have cohesive strategies that allow them to distinguish themselves from others, and in fact may be a model for other regions to emulate for success. Lee County Lee County alone has 50-plus miles of great beaches, plus other natural beauty that of course plays a part in a business’s desire to locate its headquarters (or some other entity) in Southwest Florida. But there are so many other considerations. Among them, just to name a few to illustrate the point: • Available workforce — Lower unemployment rate. • Economics — Favorable perks such as no state tax. • Quality of life — Reasonable commuting times for the workforce; climate, including 260-plus days of sunshine; and a favorable cost of living versus other regions. • Shopping and dining. • The arts. • Professional sports — Lee County is home to Major League Baseball’s Boston Red Sox and Minnesota Twins. Charlotte County hosts the Tampa Rays. All three teams also host minor league teams. And Germain Arena is home to the Florida Everblades, offering premier Double-A hockey. • Technology connectivity. • Transportation — Southwest Florida International Airport serving 8 million-plus travelers annually offers nonstop service to major gateways throughout the U.S. as well as Canada and Germany. • Education — While the state’s 9th-largest district ranks 35th academically out of 67 districts in Florida, the Lee County School District Superintendent, Gregory Adkins, has reaffirmed the district’s goal of moving into the top five in the Sunshine State by 2020. • Major ports — Access is under 2.5 hours to the major ports north and east of us. From Individual Communities Come Regional Strength We have many individual cities, towns, villages and counties that operate independently and want the best for their location. But we must remember that their individual economies are collectively related to one another. There is common interest and characteristics such as those identified above that we all

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Cushman & Wakefield Commercial Property Southwest Florida, LLC hires two brokers with 35 years of combined real estate experience

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FORT MYERS, Fla. (July 27, 2017) – Cushman & Wakefield Commercial Property Southwest Florida, LLC has hired two brokers, Lane Boy and Michael Mahan, as directors of real estate and retail respectively. Their responsibilities include real estate consulting, transactions, reporting and analysis within the local market, as well as how it relates to the global real estate scale Lane Boy recently returned to Southwest Florida after several decades in Australia, where he was the CEO of two real estate-related businesses for 20 years, a direct investor in Southwest Florida real estate, and the founder of a publishing company that became Australia’s highest-selling real estate magazine. One of his real estate brokerage firms sold over $22 million in property last year. A graduate of University of Queensland in Australia and Duke University, Boy is renowned for his expert knowledge of local markets and powerful negotiating skills. He currently specializes in Lee, Collier, Charlotte, Hendry, Glades and DeSoto counties. Michael Mahan relocated to Southwest Florida from Atlanta, Georgia, where he worked as a senior transaction specialist for Georgia State Properties Commission, overseeing commercial real estate activities for the state, as well as negotiating and renegotiating over 1,500 statewide real estate contracts and 300-plus individual contracts per year. Prior to that, Mahan managed all real estate activities for regional shopping centers for DLC Management’s Southeast region out of Atlanta, where he completed 50 transactions in a single year. His 15 years of real estate experience also goes back to Charlotte, North Carolina, where he founded and managed Red Oak Commercial, a brokerage firm that represented Anytime Fitness. A graduate of Ball State University, Mahan served in the 3/505th 82nd Airborne Infantry of the U.S. Army. He moved to Naples in May 2017. “These fine men represent the quality work that the local chapter of Cushman & Wakefield desires potential clients to recognize,” said Gary Tasman, CEO & Principal Broker. “Not only is their experience diverse, but it is directly in line with the topics the firm is faced with every day.” About Cushman & Wakefield Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. To learn more, visit http://www.cushmanwakefield.com/ or follow @CushWake on Twitter.

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