Newmark Grubb Phoenix Realty Group welcomes Richard Antczak

New Director Arrives To Make His Mark in North Florida

By David Patrickson

Rich Antczak has relocated from Chicago to sunny Florida to use his expertise in the Northeast Florida market as a director for Newmark Grubb Phoenix Realty Group in Jacksonville.

Antczak will primarily focus his efforts in Nassau County where he will work with public or private property owners, tenants, and investors in the acquisition, disposition and leasing of commercial assets. He will also look to boost the firm’s presence in the marketplace through new business and the cultivation of client relationships.

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In the Sweet Spot

sweet spotThe labor market expanded at a moderate pace in October, posting its ninth consecutive monthly gain above 200,000 new jobs according to this morning’s report from the U.S. Bureau of Labor Statistics. The unemployment rate dropped another notch, but the tightening is not translating into higher wages. Here are the details:

  • Employers added 214,000 net new payroll jobs last month, similar to the 220,000 jobs that Bloomberg’s survey of economists had forecasted. August and September totals were revised higher by a combined 31,000 jobs. The average monthly increase year-to-date through October is 229,000, up from 194,000 in 2013.
  • Leisure and hospitality led all sectors with a gain of 52,000 jobs, concentrated mostly in restaurants.
  • The education and health services sector was second, adding 41,000 jobs. Of this total, 24,500 were in health care despite ongoing efforts by providers to trim costs.
  • Professional and business services came in third, with 37,000 jobs created last month. The other two big office-using sectors were mostly flat, as finance added 3,000 and information subtracted 4,000, the only major sector to lose jobs in October.
  • The goods-producing sectors did well, with manufacturing and construction adding 15,000 and 12,000 jobs, respectively. Besides manufacturing, the other two big sectors driving demand for industrial space also performed well, as transportation and warehouse employment increased by 13,300 and wholesale trade added 8,500.
  • Retailers increased payrolls by 27,100, a vote of confidence in the holiday shopping season.
  • The public sector added a modest 5,000 jobs, with gains in local government employment offsetting losses at the U.S. Postal Service.
  • Wage growth remained tepid. The average hourly earnings for all employees rose by 0.1% last month and by 2.0% from a year ago. Weak wage growth has restrained both the pace of economic expansion and the rate of inflation, prompting the Federal Reserve to keep interest rates low.
  • The unemployment rate fell by one-tenth of a point to 5.8%, its lowest level since July 2008. The U6 rate, which includes discouraged, marginally attached and underemployed workers, was 11.5%, down from 13.7% a year ago.

Today’s report delivers three key takeaways:

  • The labor market continues to grow at a solid, non-inflationary pace. Growth has been remarkably consistent, showing little sign of weakening or accelerating in recent months.
  • Wage growth remains slow—a negative for wage earners and consumer spending, but a positive for the inflation outlook.
  • The combination of solid employment growth and low inflation/interest rates has created a sweet spot for commercial real estate. The economy is strong enough to generate sustained leasing activity for all property types, but still has enough slack to permit the Fed to maintain low interest rates—a key factor supporting the surge of investor demand for CRE assets.

Robert Bach Director of Research – Americas

For all your commercial real estate needs, please contact:

Newmark Grubb/Phoenix Realty Group
10739 Deerwood Park Blvd, Suite 310
Jacksonville, Florida 32256
904-399-5222
www.phoenixrealty.net

Jacksonville makes U.S. top ten cities list for logistics infrastructure

By Jensen Werley – Jacksonville Business Journal

Jacksonville is one of the top cities for logistics infrastructure, according to a ranking done by Global Trade Magazine.

The city, which shares the list with cities like Miami, Los Angeles and Memphis — as well as lesser-known logistics cities like Peoria, Illinois and Orangeburg, South Carolina — based on factors like Jacksonville’s port, the two interstate highways, the rail infrastructure, the international airport and its ability to bring freight to a large amount of people in a short amount of time.

Patrick Dooley, editor at Global Trade Magazine, said Florida in general is a key state for logistics.

“Florida is a fantastic logistics state because of its positioning and shape,” Dooley said. “When people think of Florida logistics, they think of Miami first. We wanted to give Jacksonville some credit.”

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Top 5 Reasons to Bring Your Prospect to Spring Lake Business Center

Top-5

Click the image above to view the Spring Lake brochure.

 

1. YOU RECEIVE $100 PER SHOWING

2. 5% COMMISSION FOR QUALIFIED DEALS

3. $14.50 PER SQ. FT. LEASE RATE

4. TENANT RECEIVES 1 FREE MONTH PER LEASE YEAR

5. TURN KEY BUILDOUT

 

FOR MORE INFORMATION CONTACT:
Jim Sebesta  jsebesta@phoenixrealty.net
Scott Henley shenley@phoenixrealty.net

904.399.5222

*Incentives subject to terms and conditions. Please contact us for details.


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