Blog
Recent headlines about the redevelopment of Westshore Plaza in Tampa reflects a broader trend happening across the country. Once vibrant hubs of shopping and social activity, malls like Westshore are struggling to adapt to the evolving retail landscape. For property owners, investors, and industry professionals, adapting to changing retail trends and consumer preferences is key to ...
If you’re in the market for a new commercial leasing company for your property, there are certain qualities that you should look for in order to ensure you’re getting the best service possible. We’ve outlined some of the key attributes to consider when choosing a commercial leasing company.
Reputation: It’s essential to do your research and find out what other customers have to say about ...
In a recent blog, we covered how to benchmark the performance of your commercial real estate asset against its peers. But what about benchmarking your management and operations staff? How do they perform relative to their peers in the industry?
To assess this, owners and asset managers would need a detailed operations checklist and then a scoring or ranking system. Creating this from ...
Marty Busekrus, SIOR, CCIM, Managing Directory at Ciminelli Real Estate Services - South Florida
If you're not benchmarking your returns, how do you know how well your asset is performing against its peers? Benchmarking simply means comparing the returns of your investment to another broader index or investment. For example, did your brokers stock picks beat the S&P 500 last year? The Dow Jones Industrial Averages?
In commercial real estate that's a bit trickier. Public REIT’s ...
Marty Busekrus, SIOR, CCIM, Managing Directory at Ciminelli Real Estate Services - South Florida
Owning commercial real estate is one thing; managing it is another thing altogether. Owners often don’t have the time or the resources to effectively manage their own commercial real estate asset(s). Improper management can lead to loss of revenue and property deterioration, resulting in costly repairs. Selecting a skilled property manager to oversee your building can reduce your day-to-day ...
The traditional office isn’t going anywhere.
In the earlier stages of the pandemic, there was a real concern that everyone’s love affair with the work from home concept was going to devastate the commercial real estate market. Well, that love affair has been supplanted by Zoom fatigue and flagging productivity rates, and the reality is more that while the post-pandemic workplace is going to ...
Adaptive reuse is a relatively new trend in real estate that has begun to boom in recent years. It is the process of renovating a building and giving it a new purpose. We have seen quite a few adaptive reuse projects popping up in Tampa, FL over the past decade.
There are many factors that have driven this concept, including a decline in space to build, the location of previously occupied ...
Sydney Kania, Assistant Property Manager at Ciminelli Real Estate Services of Florida
Choosing the right property manager or leasing agent can have a dramatic impact on the performance of an investment. Property managers perform a wide array of critical functions including providing services to tenants, reporting to the owner, maintaining the asset, and collecting and disbursing funds.
A competent property manager will enhance the value of an asset by maximizing revenue ...
Thomas McGeachy, Managing Principal
There have been countless reports of the effect that e-commerce has on the industrial demand of our country. We looked at 3 factors that contribute to that and found the link between e-commerce and industrial demand may be vastly overstated.
The increase in online sales is real and noticeable as evidenced by the sharp increase in non-retail store sales. This trend will likely continue as we ...
Marty Busekrus, SIOR, CCIM, Managing Directory at Ciminelli Real Estate Services - South Florida
The Tampa Bay area landscape is changing. With supply in commercial real estate space dwindling, we are finally seeing the shift to development in the area. Below, we outline some of the major projects that are shaping the real estate industry in our area:
Water Street Tampa
Strategic Property Partners (SPP), a joint venture controlled by Jeff Vinik and Cascade Investment, LLC, is ...
No matter the business industry, any professional will attest to the importance of customer service and satisfaction. At Ciminelli, we pride ourselves in providing the highest level of service to all of our tenants. We have compiled the top 5 reasons good tenant relations are critical to our current and future success.
“Word-of-Mouth” promotion
David J. Greer, entrepreneurial coach and ...
Florida Property Management
Hiring or transferring to a new 3rd party Property Management company can be a turbulent time, with both expected and unexpected obstacles. Our Ciminelli Team works diligently to make the transition process go as smoothly as possible for all of our new clients. We had the opportunity to sit down with our Accounting Manager, Shannon Barbur, and one of our Property ...
Gina Karnes (Property Manager) & Shannon Barbur (Accounting Manager)
On November 7, 2018, The Building Owners and Managers Association (BOMA) Greater Tampa Bay recognized winners of the 2018 Outstanding Building of the Year (TOBY) awards. The Outstanding Building of the Year (TOBY) Awards are the most prestigious and comprehensive programs of their kind in the commercial real estate industry recognizing quality in buildings and rewarding excellence in ...
Ciminelli Real Estate Services believes that community is not just a place; it is a relationship that ties companies, causes and people together. Below are some of the activities and programs we've participated in.
Teaching Tools
Ciminelli Real Estate Services, Tampa, FL, is a proud sponsor of the Hillsborough Education Foundation Teaching Tools Store. The program provides teachers from ...
Heather List, Business Development Manager, Tampa, FL
Whether your company is moving offices or opening its first brick and mortar location, leasing office space can be a stressful task. According to a 2007 study done by Gettysburg Professor Andrew Naber, "one-third of your life is spent at work". So, it's safe to say your office has a major impact on your life. We collaborated with our real estate and property management professionals to ...
Thomas Hernandez, Associate Director, SIOR, CCIM
A building can only be as good as its property manager. From daily functions to vendor contracting, an established budget and eye for detail can make or break a building's profitability. Ciminelli's continually expanding managed portfolio of nearly 16 million square feet speaks volumes about our team's performance. As building owners ourselves, we know effective commercial property ...
Chris Reckart, Vice President Property Services, CPM, RPA, FMA
South Florida Commercial Real Estate
January brought about the grand opening of our office in Ft. Lauderdale servicing the Palm Beach, Broward and Miami Dade Counties. While this is a new venture for Ciminelli, the personnel that have formed the base of operations have been working in the South Florida commercial real estate world for quite some time. This office is headed by Mara Porras ...
Marty Busekrus, Managing Director, CCIM
Whether you are leasing commercial real estate space and need it suited to your needs, or you own property and want to make renovations, you need someone looking out for your best interest to manage the project, and everything it entails. You need a construction project manager. Construction project management is a detailed craft and can become overwhelming if you don't have the right person ...
Brian Westall, Construction Management Coordinator
OFFICE MARKET
In regard to noninvestment / end-user sales and leasing, we saw the continued demand for smaller commercial real estate spaces and an increase in demand for larger spaces above 20,000 SF. However, an interesting dynamic appeared and we found that despite an increase in demand for both industrial and retail space, we did not find the same demand for offices. Compared to the ...
Mary Foley, Associate Director