Firehouse Subs seeks space for new HQ

1441207232Robin-Sorensenby Karen Brune Mathis

Jacksonville-based Firehouse Restaurant Group Inc., parent of the nationwide Firehouse Subs fast-casual chain of more than 900 restaurants, is looking for a new headquarters.

The space should be large enough to accommodate company operations as it plans to add at least 1,000 more restaurants in the U.S. and internationally as part of a 10-year plan.

Firehouse Restaurant Group doesn’t intend to leave Northeast Florida.

Scott Henley of Newmark Grubb Phoenix Realty Group is Firehouse’s real estate representative.

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Top 10 Issues Impacting Real Estate in 2015

The Counselors of Real Estate compiled a list of the top 10 issues affecting commercial real estate for 2015 to 2016. The Counselors consider independent research, qualitative feedback from members via polling and a member survey. While the list has been separated into 10 distinct issues, many are interrelated and affect multiple property sectors.

1. Demographic Shifts
Baby Boomers and millennials rose to the top of this year’s list because of the sheer number of people and the evolving needs of both groups. The lifestyle choices of both groups will impact housing in all its forms: retired Baby Boomers are choosing to downsize or move to senior communities/assisted living facilities. Millennials for the most part are postponing buying a home and gravitating toward urban, walkable communities. The ripple effect of these demographics will prompt adaptation from real estate and service sectors such as retail, medical facilities, office and entertainment venues.

2. Excess Capital Supply
Heightened foreign investment is driven by economies that have high savings rates, a shortage of mature financial markets and few safe assets. Investment in major markets continues, but competition has forced some investors to look to gateway markets and edge cities. While multifamily is still the darling of foreign investment, residential investment is on the rise as another form of a secure asset class.

3. Rising Interest Rates
Interest rates have been at near-historic lows, but savvy investors and homebuyers know they aren’t going to stay that way much longer. Rising interest rates could spur commercial development and slow home sales, unless millennials jump in and buy before interest rates rise too far, giving the residential market a second wind.

4. Global Instability and Currency Devaluation
Although the U.S. dollar remains strong, currency devaluation in many other countries is impacting the global economy. Foreign investment is fueling the U.S. real estate market, but event risk should be considered – “hot spots” of conflict and cyber security are continually in the news, and the global economy is psychologically linked.

5. Urbanization
The desire to reside in urban areas is not limited to millennials, and this is impacting the housing choice for all age groups. Shopping malls, which have typically adopted either a luxury or discount business model, must adapt to a vertical shopping configuration. Suburbs are feeling the pressure of younger families that aren’t buying the kinds of homes leftover from the past generation of suburbanites. On top of that, even corporations are relocating to cities to attract younger professionals.

For complete article on Transwestern.net, please click here.

 

 

Newmark Grubb Phoenix Realty Group Inks 208,000 SF Lease at Former Food Lion Distribution Center in Green Cove Springs, FL

Jacksonville, Fla. (August 27, 2015) — Newmark Grubb Phoenix Realty Group’s (NGPRG) President/Principal John Richardson, SIOR and Senior Vice President/Principal Bryan Bartlett, SIOR represented the owner, Green Cove LLC, in a 208,000 square foot lease located at 4627 JP Hall Boulevard, Green Cove Springs, Fla. with Calavo Growers. Kevin Kelly of CBRE represented the tenant. The deal will bring 262 new jobs to the area.

The +793,583 square foot multi-tenant warehouse and cold-storage distribution facility is located on 141 acres and has 1.4 miles of on-site interior and exterior CSX-served rail.

Headquartered in Santa Paula, California, Calavo Growers is a global avocado-industry leader and provider of value-add fresh foods, according to its website. Founded in 1924, the company also procures and markets other fresh produce items ranging from tomatoes to tropical produce, and the company’s Calavo Foods business segment manufactures and distributes guacamole, guacamole hummus, salsa and tortilla chips under the Calavo brand name. The company plans to use the facility to manufacture and distribute goods.

“The availability of the existing big-box freezer/cooler space coupled with Clay County’s business-friendly environment and the local skilled labor force fit Calavo’s needs perfectly and were instrumental in getting the deal done,” said John Richardson, President/Principal of NGPRG.

About Newmark Grubb Phoenix Realty Group

Newmark Grubb Phoenix Realty Group is a full-service commercial real estate company serving Northeast Florida and Southeast Georgia. The firm has completed more than 80 million square feet of transactions since its inception in 1993. Today, Newmark Grubb Phoenix Realty Group provides industrial, office, retail and investment brokerage services representing tenants, buyers, landlords and sellers, as well as third-party and institutional investors of every size. Through Newmark Grubb Knight Frank, one of the world’s leading commercial real estate advisory firms, our clients have access to opportunities in every major market throughout the country, as well as across the globe. For further information, visit www.phoenixrealty.net or call 904.399.5222.

About Newmark Grubb Knight Frank

Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.

With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.

NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.

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Secrets Revealed: Corporate Real Estate Strategies for CFOs and Senior Real Estate Managers

By Scott Henley

If you’re the CFO or senior real estate manager for a company with significant corporate real estate (CRE) holdings, you’ll want to see the results of a recent joint study by CFO Research and IBM titled Working Smart: Value Management for Corporate Real Estate. The report shows that more than half of America’s CFOs expect that a change in their business operations will increase their CRE expenses in the next three years. This means that right now is the time now to align your finance and corporate real estate strategies in an effective, growth-oriented but savings-minded way.

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