First Coast Real Estate Economic

First Coast Real Estate economic

Building a more vibrant Jacksonville

Presented by Sponsored by Event Production 2 jacksonville.bizjournals.com ■ the business journal FIRST COAST REAL ESTATE ECONOMIC OUTLOOK GUIDE MARCH 29-APRIL 4, 2013 17th Annual First Coast Real Estate Economic Outlook Committee 2013 Event Chair

Linda Daniels, CCIM Pete Gentry Norman W. Gregory, Commercial Real Glenn East John Fish CCIM Estate Solutions Northeast Florida Midtwon Center Florida Commercial Real Estate Services St. John’s County (904) 304-7222 Association of Realtors Office Park (904) 394-9494 (904) 421-2612 (904) 470-0010 Economic Development Council (904) 699-3848

Sandra C Kahle, Celeta McClamma Sarah Haneke Patrica Owings David Sillick CCIM Northeast Florida The Business Journal Senior Broker Associate, The Business Journal KW Commercial Association of (904) 265-2212 Strategic Sites Clifford (904) 265-2203 (904) 838-6446 Realtors Commercial (904) 394-9494 (904) 242-2828

John T. Winkler, David C. Stubbs, CCIM Jennifer Trent Susy Turney Stephanie Winters CCIM Jacksonville Port Sight & Sound Florida Commercial The Business Winkler Real Estate Authority Productions Real Estate Services Journal Services (904) 357-3082 (904) 645-7880x121 (904) 470-0010 (904) 265-2211 (904) 229-7425

Please refer to the following pages for the Conference Agenda and Floor Plan. On behalf of the committee, we thank you for attending and hope you enjoy the conference. Please make sure to visit with our hosts in the exhibition hall. Their support helps make this conference a success. Thank you!

We’d like to thank our Hosts of the 2013 Outlook Conference. Without your support this Conference would not be possible. • St. Johns County Board of County • Metro Market Trends • Sight & Sound Productions Inc. Commissioners • Florida Mitigation Providers LLC • Wells Fargo • Midtown Centre Office Park • Jacksonville Business Journal • Grubb & Ellis/Phonenix Realty Group MARCH 29-APRIL 4, 2013 FIRST COAST REAL ESTATE ECONOMIC OUTLOOK GUIDE jacksonville.bizjournals.com ■ the business journal 3 Welcome Messages

Welcome to the seventh annual First Coast Commercial Real Estate and Economic Outlook Conference.

The 2013 Outlook Conference is a direct result of collaborative efforts of the North District Florida CCIM Chapter, Commercial Alliance of Realtors (CAR), Jacksonville Business Journal, and Sight and Sound Productions, many volunteers and sponsors. Volunteers from these organizations unite their efforts As the economy begins its slow road to recovery, there will be annually with one goal in mind, to deliver precise economic information to a variety of opportunities for today’s real estate and business the Jacksonville business community. Accurate information is perquisite to the professionals. However, the past several years have, hopefully, foundation of a well-informed and prepared professional’s journey to achieve taught us the importance having the right information success, even more so, in today’s economy. to make pragmatic decisions, knowing where to look for The Outlook Conference theme for 2013 is Pillars of Growth, Building a More opportunities, and how to effectively get things done. In order Vibrant Jacksonville that provides the platform for the program’s delivery of to be successful in next generation, the importance of being target industries and how they influence the Pillars of Growth in the Jacksonville a well-informed and prepared professional has never been Commercial Real Estate market. clearer. The North Florida Outlook conference has long been an opportunity to learn from and network with some of First Mayor Alvin Brown will begin the conference by delivering an update of how his vision plan for Jacksonville has rallied the local real estate economy through Coast’s business leaders. This year’s conference theme- Pillars JAXUSA, and other unique programs within Mayor Brown’s business platform… of Growth provides a unique opportunity to learn more about aimed at growing Jacksonville’s economy and Building a More Vibrant the industries that will be the catalyst to growth in the next few Jacksonville. The program then accelerates the economic focus to deliver an years. international, national, state, and local perspective to Mayor Brown’s vision from George Ratiu, Commercial Economist with the National Association of Realtors (NAR). As the official Economists for NAR, Mr. Ratiu produces NAR’s quarterly The North district of the Florida CCIM Chapter appreciates Commercial Real Estate Outlook economic trend and forecast publication that your participation in the year’s Outlook Conference. We hope extend to the office, industrial, retail and multi-family sectors. His expertise in you gain a better understand several Pillars of Growth, and use economics, commercial real estate, investments, and mortgage foreclosure has your knowledge of them to have a prosperous 2013. If you need international reach in Eastern Europe. commercial real estate services, we encourage Keynote speaker this year will be Dr. William Rupp, Chief Executive Officer, you to get the best in the business, and hire a Mayo Clinic to discuss the State of Health & Life Science and its effect on the CCIM. If you are a real estate professional, we commercial real estate industry. invite you to explore the benefits of the CCIM designation. William R. Nicholson, Heritage Capital Group will deliver capital market update information utilizing his 35 years of diversified experience in the finance and commercial real estate industry. Chase Pattillo, CCIM Vice President – North Florida District Aaron Bowman, Senior Vice President of Business Development for JAXUSA Partnership will lead a panel discussion, targeting four industries and how they influence the “Pillars of Growth” - Advanced Manufacturing; Aviation & Aerospace; Information Technology; and Logistics.

Sandra Kahle, CCIM, JE, PE, and Co-Chair Outlook Conference 2013 will lead a panel discuss of the Five Market Segments: Retail - Jayson Ryals, Colliers International; Office-Bruce Jackson, CBRE; Industrial-Bobby Gatlin, Grubb Ellis; Multi-family-James Pyle, LandSouth Construction; Residential-Antonio Crocco, MMT info. The Commercial Alliance of Realtors (CAR) is proud to be The 17th Annual Outlook Conference, committee, volunteers, sponsors, part of this 17th Annual 2013 First Coast Real Estate Economic speakers, and team of experts appreciate your support and participation in this year’s conference. We know you will leave the event filled with target specific Outlook Conference. CAR represents the commercial real information delivered by a team of professionals with one goal in mind, to estate division of the Northeast Florida Association of Realtors deliver the right information and knowledge, positioning you to be successful in (NEFAR) and is also a member of the National Association of the commercial real estate market. Realtors. Before you leave the event, we ask you to complete a comment card positioned Members enjoy the benefits of continuing education, at each table. Your comments feed the Outlook Conference Committee with tremendous backup support and a powerful lobbying ally valuable insight from the attendees and a guiding vision to plan for the next with both the National Association of Realtors and the Outlook Conference. For our goal, is to ensure the success of our attendees and Florida Association of Realtors. CAR members hosts. meet monthly with an emphasis on learning and opportunities for networking with fellow Thank you, commercial brokers.

Linda L. Daniels, CCIM Pete Gentry 2013 Chairperson Commercial Alliance of Realtors Chair President North District CCIM Florida Chapter 4 jacksonville.bizjournals.com ■ the business journal FIRST COAST REAL ESTATE ECONOMIC OUTLOOK GUIDE MARCH 29-APRIL 4, 2013 17th Annual First Coast Real Estate Economic Outlook 2013 Program April 3, 2013 Agenda: First Breakout Session: “JAXUSA Presentation” - 10:00 am All Events will be at University Center at UNF Aaron Bowman of JAXUSA will target specific industries and how they influence 7:00 am - Registration/Sponsor Exposition Opens the “Pillars of Growth”. 7:30 am - Breakfast

7:45 am - Opening Remarks - Linda Daniels, CCIM, Chair Outlook Presented by: Conference 2013 7:55 am - Mayor Speaks

8:05 am - Economist - George Ratiu, Economist, National Association of Aaron Bowman Realtors Senior Vice President, 8:45 am - Keynote Speaker - Dr. William Rupp, Chief Executive Officer, Mayo JAXUSA Partnership Clinic 9:15 am - Break 9:45 am - Capital Update - William R. Nicholson, Heritage Capital Group

10:00 am - First Breakout Session: JAXUSA PRESENTATION “Pillars of Growth” second Breakout Session: “Real Estate Markets” - 11:15 am Aaron Bowman, Senior Vice President, JAXUSA Partnership Advanced Manufacturing - Christopher Kaniut, SAFT Aviation & Aerospace - TBD Information Technology - Jane Landon, Web.com Logistics - Cindy Schempp, Hoegh Autoliners, Inc 11:00 am - Break 11:15 am - Second Breakout Session - Sandra Kahle, CCIM, Co-Chair Outlook Conference 2013 12:30 pm - End of Conference Retail: Office: Industrial: Jason Ryals Bruce Jackson Bobby Gatling First Vice DR. WILLIAM RUPP has served as Chief Executive Officer Principal, Colliers CCIM, First Vice at Mayo Clinic in Florida since November 2008, coming International President, CBRE President, Grubb & to Jacksonville from Luther Midelfort – Mayo Health Northeast Florida Ellis|Phoenix System. Dr. Rupp served five years as President and CEO of Realty Group Immanuel St. Joseph’s – Mayo Health System in Mankato, Minnesota. Prior to that, he spent 20 years at Luther Midelfort, Mayo Health System’s largest practice, 11 of those years as President and CEO.

He received his undergraduate degree from Dartmouth College and his medical degree from the University of Minnesota Medical School and completed a residency in Internal Medicine and Fellowship in Medical Oncology at the University of Cincinnati Medical Center.

Dr. Rupp is a physician-leader who brings a combination keynote of health care knowledge, operational excellence, and an speaker understanding of how health care issues impact patient DR. WILLIAM RUPP care to his role. He has a great deal of experience in quality Residential: CEO, Mayo Clinic Florida improvement efforts and has worked collaboratively on Multifamily both the enterprise and local levels to improve practices market: Anthony and operations. He has a reputation for forging strong James Pyle Crocco community ties and bringing physician groups together. President Regional Director, Dr. Rupp has served as a faculty member at the Institute Metrostudy, a for Healthcare Improvement. In his many leadership roles, and CEO, Dr. Rupp has helped physician organizations, hospitals, LandSouth Hanley Wood Co. and health systems develop shared organizational vision, Construction strengthen leadership and governance, accelerate the pace of change, and improve patient safety. He was a member of the Institute of Medicine team that wrote the report, Keeping Patients Safe: Transforming the Work Environment of Nurses. MARCH 29-APRIL 4, 2013 FIRST COAST REAL ESTATE ECONOMIC OUTLOOK GUIDE jacksonville.bizjournals.com ■ the business journal 5 Commercial real estate market continues to strengthen

s the economy continues “Existing home sales are up over 9 to slowly improve, so, too, percent year over year and in addi- Adoes commercial real estate. tion, the actual inventory has been George Ratiu, manager of quantita- shrinking to where it’s now around tive and commercial research with a four-month available supply. The the National Association of Real- long-term available is six months, tors, will share data during his pre- so we’re actually undersupplied. sentation at the First Coast Real Es- We have markets where they are tate Economic Outlook Conference experiencing multiple offers with that show how even small economic housing coming online.” bright spots are positively affecting Ratiu said the shadow inven- all commercial real estate sectors. tory of housing is also declining “In terms of com- nationally. “One caveat: It depends mercial’s perfor- on whether the state is recourse mance in 2012, the versus nonrecourse. Florida is one year turned out to where judicial process has slowed be quite positive,” the clearing of these properties. Ratiu said. “Here I But shadow inventory nationally speak mostly sup- is dwindling in part because inves- ply and demand. De- tors stepped in and picked up a lot

mand continues to THIN K STO CK of these distressed properties.” Ratiu rise. Net absorption According to the Bureau of Eco- numbers were quite nomic Analysis’ initial estimate, strong. Vacancy rates declined for consumer spending rose 1.9 percent pretty much all property items. office market is 15.9 percent; indus- posting a 27 percent gain, while in 2012. Multifamily posted the strongest trial, 9.5 percent; retail, 10.6 per- new-home sales rose 20 percent over “Retail is basically following and the vacancy rates [fell] even cent; and multifamily, 3.9 percent. 2011, according to NAR. consumer spending patterns very below 4 percent in quite a few mar- For 2013, NAR projects national “For residential, we started 2012 closely,” Ratiu said. “I will say that kets.” vacancy rates to drop 0.4 percent in with moderate expectations, but it while consumers spent cautiously NAR data for Jacksonville shows the office and industrial markets, turned out through the year the sec- during 2012, spending was actually office vacancy at 20.7 percent; in- 0.3 percent for retail and 0.1 percent tor not only improved, but we ended positive. It’s at roughly a 2 percent dustrial, 7.3 percent; retail, 12.3 in multifamily. the year with low inventory and ris- increase year over year. As a result, percent; and multifamily, 7 percent. The national housing market in ing prices, the likes of which we retail spaces did fairly well.” The vacancy rate nationally for the 2012 improved with housing starts haven’t seen since 2007,” Ratiu said. —Dolly Penland

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s part of the First Coast Real national and world- families aren’t always able to pro- Alzheimer’s unit, and then there is Estate Economic Outlook wide basis, that vide that,” Nicholson said. “That skilled nursing.” AConference, William Nich- is not necessarily has caused the children of elderly Another area of future potential olson, principal with the Heritage likely.” parents or the [seniors themselves] is self–storage. “That’s traditional- Capital Group, will discuss interest As the population to realize they can no longer mainly been the stepchild of commercial rates and the changing commercial ages, particularly tain a home. They are looking at al- real estate,” Nicholson said. “It’s real estate landscape. the baby boomers, ternatives. now viewed as a very active asset Of course, interest rates are at senior housing will “It’s more focused on the part of class. Most apartments don’t have historic lows. “There is no way you become an increas- Nicholson the continuum that is pre-nursing enough storage and the way new can keep them low forever,” Nichol- ingly desirable real home that is being developed now. houses are built with truss systems, son said. “Usually when they rise, it estate venture. There are independent living [facil- you have little attic storage. It’s a would be indicative that the overall “With people living longer, that’s ities], assisted living, there’s mem- good thing for that industry.” economy is doing better. Until the good. What is not good is that the ory care, which is primarily the —Dolly Penland overall economy does better on a people living longer need help and THIN K STO CK

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Target industries on target NAIOP 2012 Developer of the Year

ix target industries and how sonville region who have key skills LEADERSHIP At Liberty Property Trust we combine they influence growth will be available to work in industries such a thorough understanding of our clients’ Sthe topic of a panel discussion as logistics and aviation. EXPERIENCE led by Aaron Bowman, senior vice “The workforce is very attractive needs with more than 40 years of president of business development to [all targeted industries]. And I EXPERTISE for JaxUSA Partnership. would say the last piece is we are development, leasing and management “We focus on the seven-county ar- very pro-business [locally and on experience. How can we support your business? ea from Nassau to Baker, St. Johns, the state level] with our tax base and DEDICATION Clay, Duval, and down to Putnam quality of life and cost of living.” and Flagler. It is a five-year plan,” Bowman’s panel will address a Bowman said. “We looked at [the broad spectrum of these industries, region’s] attributes and identi- with panelists discussing the attri- fied good industries to target for butes that Jacksonville has to offer. growth.” Confirmed panelists include: The industries are advanced • Jane Landon, chief technology manufacturing, aviation, financial officer of Web.com. “Web.com has services, health and life sciences, been one of the Jacksonville com- information technology and logis- panies that has been really success- tics. Bowman breaks these out in ful and is a huge supporter of small three parts: infrastructure, people business,” Bowman said. and the business climate. • Chris Kaniut, general manager “We have several thriving indus- with SAFT. “They do advanced trial parks in the area,” he said. “We manufacturing,” Bowman said. have a lot to offer with our deep- “They are a lithium battery manu- water port and our rail system and facturer and they have about a our interstates. We are certainly, we 230,000-square-foot facility at Cecil think, an ideal location.” Commerce Center.” “Another thing we really focus • Cindy Schempp, head of human on is the skilled labor force in the resources for Hoegh Autoliners, region,” he said. “That is close to “the biggest shipper of cars at Jax- Enhancing people’s lives through extraordinary work environments. 800,000 and also we have a very thriv- port,” Bowman said. “They just de- ing military community with about cided to move their corporate head- United States, United Kingdom • NYSE:LRY 3,000 — mainly sailors — leaving quarters to Jacksonville.” www.libertyproperty.com the service every year in the Jack- —Dolly Penland

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the The Jacksonville Business Journal 2012 COMMERCIAL REAL ESTATE SALES List Ranked by value of 2012 sales Research by Eleanor Snite Size Buyer’s agent or Seller’s agent or Rank Sale & location Value Closed Property use Buyer transaction brokers Seller transaction brokers Imeson West $42.5 817,680 sq. ft. Samsonite LLC Global Income Not available Imeson West I LLC Not available 1 10480 Yeager Road, million October distribution Trust Inc. Blog Jacksonville, 32218 center Villas of St. Johns $38.6 257 units Apartments Bell Partners Inc. & WND Northwestern Mutual Brian Moulder, Dhaval 2054 Riverside Ave., million August Crow Holdings Life Insurance Real Patel, Dan Allen 2 Jacksonville, 32204 Estate Investments LLC CBRE Group Inc. 904-634-1200 Links of Windsor Park $33.6 WND Apartments Links Borrower LLC Jones Lang LaSalle Realty Associates Fund Brian Moulder, Dhaval 13700 Sutton Drive N., million August 904-356-0050 VII LP Patel, Dan Allen 3 Jacksonville, 32224 CBRE Group Inc. 904-634-1200 Check out blog posts from St. Johns Plantation $33 400 units Apartments DRA Advisors LLC Not available UDR Inc. Not available 4 7595 Baymeadows Circle W., million July Jacksonville Business Journal Jacksonville, 32256 reporters for news and Bermuda Cove $29.4 350 units Apartments Landmark Residential WND Equity Residential Steve Lear (now Landmark at Crescent Ridge) million November Walchle Lear Multifamily insights on banking, retail, 5 2001 Hodges Blvd., Advisers transportation and much Jacksonville, 32224 904-241-7600 The Antlers Apartments $29 400 units Apartments DRA Advisors LLC Not available UDR Inc. Not available more. 6 8843 Southside Blvd., million July Jacksonville, 32256 www.bizjournals.com/ Courtney Meadows $28.4 Not available Apartments Prim Residences at Not available Courtney Meadows Not available 7 7820 Baymeadows Road E., million October Courtney Meadows Apartment LLLP jacksonville/news/blogs/ Jacksonville, 32256 LLC Avistele at Deerwood $28.2 391 units Apartments Cortland Partners WND RPS Deerwood LLC Brian Moulder, Dhaval 9803 Creekfront Road million 42 acres Patel, Dan Allen 8 Jacksonville, 32256 August CBRE Group Inc. 904-634-1200 Jacksonville Freedom Commerce Center $27.83 Seven buildings Business park Crocker Partners None LNR Partners Karl Johnston, Buddy 8375 Dix Ellis Trail, million 752,154 sq. ft. Register, Bob Retherford 9 Jacksonville, 32256 November Cushman & Wakefield Inc. 904-380-8334 Allegro at Fleming Island $27.38 Not available Senior living SHP IV Fleming Island Not available Allegro at Fleming Not available 10 3651 U.S. Highway 17, million October community LLC Island LLC Fleming Island, 32003 The Kensley $27 300 units Apartments DRA Advisors LLC Not available UDR Inc. Not available 11 6371 Collins Road, million July SALES RISE Jacksonville, 32244 ■ Mirado at River City $26.3 276 units Apartments Cortland Partners LLC WND Spanbos Corp. Brian Moulder, Dhaval The total value of all the commercial real 13100 Broxton Bay Drive, million May Patel, Dan Allen estate sales on the list rose 27 percent 12 Jacksonville, 32218 CBRE Group Inc. over the past year. 904-634-1200 Stovall at River City $26.3 276 units Apartments Cortland Partners LLC WND Spanbos Corp. Brian Moulder, Dhaval 700 13000 Broxton Bay Drive, million May Patel, Dan Allen 12 Jacksonville, 32218 CBRE Group Inc. 904-634-1200 The Allegro at Harbour Island $25.45 Not available Senior living SHP IV Harbour Island Not available The Allegro at Harbour Not available 14 1101 Plantation Island Drive S., million September community LLC Island LLC St Augustine, 32080 450 Green Tree Place $24 352 units Apartments DRA Advisors LLC Not available UDR Inc. Not available

Million 15 9480 Princeton Square Blvd. S., million July Jacksonville, 32256 Westland Park $24 405 units Apartments DRA Advisors LLC Not available UDR Inc. Not available 15 6710 Collins Road, million July $238 Jacksonville, 32244 $510 $510 $650 $521 $501 200 Royal Oaks $23.75 284 units Apartments Landmark Residential WND Equity Residential Steve Lear 2008 2009 2010 2011 2012 (now Landmark at Hampshire Place) million November Walchle Lear Multifamily 17 10023 Belle Rive Blvd., Advisers SOURCE: Company representatives, public Jacksonville, 32256 904-241-7600 records, websites Florida Club at Deerwood $23 180 units Apartments Archon Group Not available Dayco Holding Corp. Matt Wilcox 18 4890 Florida Club Circle million December Apartment Jacksonville, 32246 Realty Advisors Ashford Court $21.59 Not available Assisted living RSC Ashford Court LLC Not available HCRIX Royal LLC Not available 19 1700 The Greens Way, million August Jacksonville Beach 32250 Waterford at Deerwood $19.35 248 units Apartments Landmark Residential WND Equity Residential Steve Lear (now Landmark at Sage Commons) million November Walchle Lear Multifamily future lists 20 8401 Southside Blvd., Advisers n Jacksonville, 32256 904-241-7600 Brighton Bay $19 Not available Senior living The Carlyle Group Not available Redus Florida Housing Not available April 5 40 Under 40 21 10061 Sweetwater Parkway, million August community LLC April 12 Toughest Golf Courses Jacksonville, 32256 Bay Club Apartments $18.85 Not available Apartments MREI III Bay Club LLC Not available Bay Club Apartment Not available April 12 Florida Managed Care (now Royal Oaks) million December LLC providers 22 9009 Western Lake Drive, April 12 health & Fitness Clubs Jacksonville, 32256 Cypress Pointe Apartments $18.5 Not available Apartments VR Cypress Pointe LP Not available Cypress Pointe Not available April 12 rehabilitation Services 23 25 Knight Boxx Road, million November Apartments LLC Orange Park, 32065 Waterford at Orange Park $17.98 280 units Apartments Insula Properties None Equity Residential Steve Lear 1710 Wells Road, million August Walchle Lear Multifamily 24 Orange Park, 32073 Advisers 904-241-7600 For information about obtaining Benton Village $17.04 Not available Senior living ARHC BHPALFL01 LLC Not available Palm Coast SLP LLC Not available 25 100 Magnolia Trace Way, million November community commemorative plaques, reprints or Palm Coast, 32164 Web permissions, contact The Business Abbreviation: WND = Would not disclose It is not the intent of this list to endorse participants or imply that a listing indicates quality. Every attempt is made to ensure Journal’s designated partner company, Source: Company representatives, public records, websites the accuracy and thoroughness of this list. Corrections or additions may be sent to [email protected]. Scoop ReprintSource, at (800) 767-3263 or Information current as of March 2013 BOOK OF LISTS ON DISK (800) 486-3289 or www.bizjournals.com/commerce/ scoopreprintsource.com. Other companies offering similar services are not affiliated in any way with The Business Journal. MARCH 29-APRIL 4, 2013 FIRST COAST REAL ESTATE ECONOMIC OUTLOOK GUIDE jacksonville.bizjournals.com ■ the business journal 9

the 2012 COMMERCIAL REAL ESTATE LEASES Ranked by value of 2012 leases Research by Eleanor Snite List Size Length Tenant’s agent or Landlord’s agent or Rank Lease & location Value Date closed Property use Tenant transaction brokers Landlord transaction brokers MSC Group Inc. $24.03 25,647 sq. ft. Office MSC Group Inc. WND South Shore Eric Ramirez 841 Prudential Drive, Jacksonville, 32207 million WND Group Partners CBRE Group Inc. www.facebook.com/ 1 December 904-633-2604 jbjnews Army Corps of Engineers $18.45 217,073 sq. ft. Office Army Corps of WND Prudential Traci Jenks 2 701 San Marco Boulevard, Jacksonville, 32207 million WND Engineers CBRE Group Inc. December 904-633-2613 L.A. Fitness $12.5 45,000 sq. ft. Retail L.A. Fitness Sally Lee & Brian Platock Sleiman Hunter Sleiman 3 11901 Atlantic Blvd., Suite 800, million WND The Shopping Center Group Enterprises Sleiman Enterprises Jacksonville, 32225 May 904-731-8806 Ally Financial $6.98 123,298 sq. ft. Office Ally Financial Kaycee Gardner WND WND 8500 Westside Industrial Drive, million WND Jones Lang LaSalle 4 Jacksonville, 32219 October Brokerage Inc. 904-356-0050 Kohl’s $6 55,000 sq. ft. Retail Kohl’s James Mitchell Sleiman Hunter Sleiman Connect with the Jacksonville 5 463893 State Road 200, million WND CBRE Group Inc. Enterprises Sleiman Enterprises Yulee, 32097 January 904-731-8806 Business Journal on Facebook University of Phoenix $5.02 54,054 sq. ft. School University of Kaycee Gardner Butler Pointe Chuck Diebel 4500 Salisbury Road, million WND Phoenix Jones Lang LaSalle Operating Colliers International to get the latest news on 6 Jacksonville, 32216 May Brokerage Inc. Associates LP Northeast Florida Northeast Florida’s business 904-356-0050 904-358-1206 Genesee & Wyoming Inc. $4.7 WND Office Genesee & WND Steinemann Michael Cills community, post comments 7 13901 Sutton Park Drive S., million WND Wyoming Inc. Windsor Parke I Steinemann & Co. Jacksonville, 32224 November LLC 904-821-9600 on stories and interact with Deutsche Bank $3.96 34,000 sq. ft. Office Deutsche Bank WND CD 119 Meridian Traci Jenks other JBJ readers. 5022 Gate Parkway, million WND (Taurus) CBRE Group Inc. 8 Building 300, Jacksonville, 32256 September 904-633-2613 Deutsche Bank $3.92 31,000 sq. ft. Office Deutsche Bank Kaycee Gardner CD 119 Meridian Traci Jenks 5022 Gate Parkway, million WND Jones Lang LaSalle (Taurus) CBRE Group Inc. 9 Building 500, Jacksonville, 32256 September Brokerage Inc. 904-633-2613 904-356-0050 Beall’s Department Stores, Inc. $3.7 58,023 sq. ft. Retail Beall’s Department Robert Selton Island Walk Robert Selton 1525 Sadler Road million WND Stores LLC Colliers International Associates LLC Colliers International 10 Amelia Island, 32034 September Northeast Florida Northeast Florida 904-358-1206 904-358-1206 Computer Sciences Corp. $3.64 153,329 sq. ft. Industrial Computer Sciences Kaycee Gardner WND WND 8500 Westside Industrial Drive, million WND Corp. Jones Lang LaSalle 11 Jacksonville, 32219 July Brokerage Inc. 904-356-0050 UnitedHealth Group $3.56 53,000 sq. ft. Office UnitedHealth Group Kaycee Gardner Flagler WND 7159 Corklan Drive, million WND Jones Lang LaSalle Development 12 Jacksonville, 32258 December Brokerage Inc. Co. LLC 904-356-0050 LEASES FALL AGAIN Merrill Lynch $3.53 30,491 sq. ft. Office Merrill Lynch WND Parmenter Kaycee Gardner ■ Bank of America Tower million WND Jones Lang LaSalle The total value of all the commercial real 13 50 N. Laura St., Jacksonville, 32202 June Brokerage Inc. 904-356-0050 estate leases on the list dropped 22 percent Ocenture LLC $3.15 25,617 sq. ft. Office Ocenture LLC Keith Goldfaden BlueRock Real Brad R. Chrischilles over the past year. 6440 Southpoint Parkway, million WND Patrick Thornton Estate CNL Commercial 14 Suite 300, Jacksonville, 32216 December NAI Hallmark Partners Real Estate 220 904-363-9002 904-345-2099

HDR Inc. $3.08 22,019 sq. ft. Office HDR Inc. Kaycee Gardner WND Michael Loftin, 200 W. Forsyth St., million WND Jones Lang LaSalle Parkway Realty Services 15 Jacksonville, 32202 June Brokerage Inc. 904-665-1703 904-356-0050 170 TJ Maxx $3 24,000 sq. ft. Retail TJ Maxx Drew Margol Sleiman Hunter Sleiman 16 463899 State Road 200, million WND Margol Commercial Realty Enterprises Sleiman Enterprises Million Yulee, 32097 May 904-619-7571 904-731-8806 Baptist Health System $2.8 14,284 sq. ft. Office Baptist Health WND South Shore Eric Ramirez $134 $217 $167 $130 841 Prudential Drive, million WND System Inc. Group Partners CBRE Group Inc. $182 17 Jacksonville, 32207 June 904-633-2604 Johnson & Johnson $2.57 109,000 sq. ft. Office Johnson & Johnson Jim Sebesta Deerwood Office Michael Loftin, 120 Capital Plaza million WND Grubb & Ellis/ Buildings LLC Parkway Realty Services 2008 2009 2010 2011 2012 18 10301 Deerwood Park Blvd., July Phoenix Realty Group 904-665-1703 Jacksonville, 32256 904-399-5222 SOURCE: Company representatives, public Church of Eleven 22 $2.5 64,000 sq. ft. Church Church of Eleven 22 WND Sleiman Hunter Sleiman records, websites 14286 Beach Blvd., million WND Enterprises Sleiman Enterprises 19 Jacksonville, 32250 September 904-731-8806 Cardinal Health $2.29 90,628 sq. ft. Industrial Cardinal Health WND KTR North Florida Terry Quarterman 20 Perimeter West I million WND CBRE Group Inc. 6595 Pritchard Road, Jacksonville, 32219 July 904-630-6342 Samsung Electronics $2.24 200,000 sq. ft. Industrial LIT Westlake LLC WND LIT Westlake LLC Terry Quarterman 21 Westlake Industrial Park million WND CBRE Group Inc. future lists 12400 Presidents Court, Jacksonville, 32220 August 904-630-6342 n Tony & Guy Hairdressing Academy $1.97 12,500 sq. ft. Cosmetology Tony & Guy Stephen Nebrat Beemer & Tom Gonseth 8206 Philips Highway, million 10 years school Hairdressing Watson Commercial Realty Associates Ash Properties April 5 40 Under 40 22 No. 33, Jacksonville, 32256 April Academy 904-421-7412 904-571-1790 Wicker Smith $1.8 11,559 sq. ft. Office Wicker Smith WND Parmenter Kaycee Gardner April 12 Toughest Golf Courses Bank of America Tower million WND Jones Lang LaSalle April 12 Florida Managed Care 23 50 N. Laura St., Jacksonville, 32202 February Brokerage Inc. 904-356-0050 providers Rebounderz $1.73 23,900 sq. ft. Family Rebounderz Killashee Investments Ash Properties, Ash Properties April 12 health & Fitness Clubs 14985 Old St. Augustine Road, million 10 years Entertainment Brooke Sams, Mark T. Farrell Beemer & Ron Dick, Randall Whitfield 24 Jacksonville, 32256 April Center 904-280-4444 Associates 904-992-9000 April 12 rehabilitation Services XX LLC 7 Eleven Inc. $1.6 66,647 sq. ft. Retail 7-Eleven Inc. Jason Ryals, Gary Montour Atlantic North WND Kernan and Atlantic boulevards million WND Colliers International Land Trust 25 Jacksonville, 32225 September Northeast Florida 904-358-1206 The Tile Shop $1.6 26,186 sq. ft. Retail The Tile Shop LLC Brian Platock WBCMT Jason Ryals, Gary Montour 9365 Philips Highway, million WND Florida Retail Group 2006-C29 Philips Colliers International For information about obtaining 25 Jacksonville, 32256 September Highway LLC Northeast Florida commemorative plaques, reprints or 904-358-1206 Abbreviation: WND = Would not disclose It is not the intent of this list to endorse participants or imply that a listing indicates quality. Every attempt is made to Web permissions, contact The Business Source: Company representatives, public records, websites ensure the accuracy and thoroughness of this list. Corrections or additions may be sent to [email protected]. Journal’s designated partner company, Information current as of March 2013 BOOK OF LISTS ON DISK (800) 486-3289 or www.bizjournals.com/commerce/ Scoop ReprintSource, at (800) 767-3263 or scoopreprintsource.com. Other companies offering similar services are not affiliated in any way with The Business Journal. 10 jacksonville.bizjournals.com ■ the business journal FIRST COAST REAL ESTATE ECONOMIC OUTLOOK GUIDE MARCH 29-APRIL 4, 2013 Panel will drill down on areas of market improvement

andra Kahle, CCIM, PE, with areas are very hot right now. They speculative product, but [in recent JD Keller Williams First haven’t skipped a beat. Town Office quarters that has] started to be SCoast Realty, will lead the Center, River City Marketplace, Bruce Jackson, absorbed. We’re seeing trends First Coast Real Estate Economic Beach and Hodges and certain CCIM, First Vice starting to go in the right direc- Outlook Conference panel discus- other areas are hot.” President, CBRE tion. Land-lords are not giving sion on the economic status of the away so much when getting deals five market segments. “No new projects done. Activity levels are picking “The main focus is for every- are being built, up, but it’s moderate.” one to gain insights as to what unless it’s a specific occurred in 2012 as far as things Residential build-to-suit for like occupancy and rates and price Anthony Crocco, purchase or major Multifamily and volume, market inventory and Regional Director, lease,” Jackson James Pyle, so on,” Kahle said. “Then we’ll Metrostudy, a Hanley Wood Co. s a id . “A not her President and CEO, get a feel from these experts as to takeaway: There LandSouth Construction where things are headed. In gen- “The home resale has been a flight eral, I would say it’s improving, market, single- Jackson to quality. The “In Jacksonville, we have more but I would say slowly.” family, detached vast majority was than 10 develop- and townhomes, in Class A property. Tenants are ments under con- the number of sales trying to lock in long-term leases st r uction right year over year was with favorable tenant conditions.” now, which is not up 17 percent,” just a recovery, Retail Crocco said. “There but rapid growth,” Jason Ryals, was also a third Pyle said. “There Crocco Principal, Colliers International less inventory. In Industrial is also a recent Northeast Florida the new housing Bobby Gatling, first-time study by starts, single-family, detached the National Multi- First Vice Pyle “Retail has and townhomes, activity year over President, Grubb Housing Council been consistently year was up almost 39 percent. & Ellis|Phoenix [and the National getting better,” The under-construction inventory Realty Group Apartment Association], that indi- Ryals said. “More is up a bit and that’s a good sign cates [the economic impact of the national tenants, because the finished units are get- “J a c k s o n v i l l e multifamily sector is] $1.1 trillion retailers, restau- ting sold.” never was really and supports almost 26 million rants are out look- overbuilt,” Gatling jobs nationwide.” ing at sites again. said. “As a result Ryals The good trade Gatling there was some —Dolly Penland

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13TH ANNUAL Congratulations to the 2013 40 UNDER 40 HONOREES 40 n Butler Ball, MedMal Direct Insurance Co. UNDER n Luis Barrenechea, Wire Mesh Corp. n Ricardo Bedoya, Holland & Knight LLP n Michelle Boling, University of North Florida n Bryan Campbell, Duval County Medical Society n Edward Carlton, McCann Law Group LLP, DBA Consumer Attorney Services 40 n Rushab Choksi, East Coast Institute for Research n Ben Davis, Intuition Ale Works n Bill Dixon, Morgan Stanley Wealth Management n Paul Eckert, Omni Amelia Island Plantation n Mike Field, JPMorgan Chase & Co. n Daniel Gilham, The Forbes & Thompson Wealth BORN TO SUCCEED Management Group n Dane Grey, Elite Parking Services of America Inc. n Abel Harding, First Citizens Bank The Business Journal has selected 40 of Northeast Florida’s n Michael Holm, AMEC Environment & Infrastructure brightest, most-promising professionals to be recognized n W. Shane Hunt, Caduceus Consulting in the 13th Annual 40 Under 40 awards event on April 4, n Michael Iannella, Deutsche Bank 2013. We invite you to attend this awards luncheon to honor n Kelley Imbach, Resource Management Services Inc. these young professionals who have achieved a high level of n Kenneth James, CSX responsibility in both their careers and our community. n D. Bruce Jones, LCPS Management Inc. n EVENT DETAILS Dr. Kevin Kaplan, Jacksonville Orthopaedic Institute Thursday, April 4 | 11:30 to 1:30 p.m. n William Kilgannon, ShayCore Enterprises Inc. Hyatt Regency Jacksonville n Sarath Kuravi, iCube CSI 225 E Coastline Dr. | Jacksonville, FL 32202 n Jennifer Mason, Auditmacs Cost: $50 per person ($55 after RSVP Deadline) n Susan Masucci, Ruckus.advertising & public relations Corporate Table: $450 per table of 10 n Renee Maxey, Holland & Knight LLP Table Patron: $600 includes: table of 10 with preferential n Lt. Matthew McCullough, United States Navy seating, table signage with company logo and recognition at n Stephen Morgan, ICS Inc. the event. last n Jennie Muniz, Dixon Hughes Goodman LLP Parking is not included in your registration chance last n Christian Oldenburg, Regency Centers to chance n Dhaval Patel, CBRE Inc. RSVP Deadline: Sunday, March 31register to n Manisha Patel, APR Energy » Registration available online: http://bizj.us/p6j3x register n C. Clayton Perry, West Point Business Group

n Michael Russo, Robert Half Technology Table patron benefits cannot be guaranteed after March 29. Reservations and n Jason Ryals, Colliers International Northeast Florida prepayments required. Refunds will not be issued. n Kate Thilges, Health Designs Follow us @jbjevents #jbj40under40 n Philip Visali, We Insure Florida n Darryl Willie, Teach For America Jacksonville » For event questions contact Kara Rosario, Event Manager, n Thomas Wilson, Smith Hulsey & Busey at [email protected] or 904.265.2236 n Alan Worley, Money Pages of Florida Inc.

Presenting sponsor: Supporting sponsor: Participating sponsor: » For advertising and sponsorship information, contact John Showalter, Advertising Director, at 904-265-2208 or [email protected].

Sponsorship opportunities still available! 108

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