Tag Archives: ian black

Ian Black Real Estate named exclusive property manager for Centauri Insurance headquarters in Lakewood Ranch

centauri1

Rendering via Fawley/Bryant

The 30,000-square-foot property is expected to be completed this summer

SARASOTA, Fla. (May 15, 2017) – Ian Black Real Estate has been named the exclusive property manager for the Centauri Insurance headquarters, currently under construction on the southwest corner of Lakewood Ranch Blvd. and Communications Parkway in the Lakewood Ranch Corporate Park. The 30,000-square-foot property will serve as the corporate headquarters for Centauri Insurance and will have an additional 11,000 square feet available for lease.

 

The three-story modern facility, which sits on a 5-acre parcel of land with sweeping lake views and outdoor plazas on each floor, is expected to be completed this summer and will welcome tenants in late July. Cheri O’Neil with Savills Studley will handle the leasing of the property.

 

“We are very excited to be joining forces with Ian Black Real Estate,” said J. Mark Jones, chief financial officer of Centauri Insurance. “We believe their longstanding presence in Sarasota County and Lakewood Ranch in particular, as well as their impressive resume of similar caliber properties best aligned with our vision for our new property and the level of service we envision for Centauri and its prospective tenants.”

 

Ian Black Real Estate currently manages over 800,000 square feet of commercial real estate space in the greater Sarasota area. The firm recently added the former Sarasota Herald-Tribune building in downtown Sarasota to its growing property management portfolio.

CLICK HERE <—- for complete article

CLICK HERE <—-for Management services

Stay Serious When Seeking Greater Good

4339_97946522602_524287602_2547794_2106266_n

The Way I See It

BY IAN BLACK * SRQ DAILY * SATURDAY PERSPECTIVES EDITION * SATURDAY DEC 17, 2016

While enjoying a sabbatical last May in the “Ould Sod,” my ire was elevated when I learned that the County Commission folded to the “fierce backlash” not of the business community, as referred to in Zach Murdoch’s recent column in the Sarasota Herald-Tribune, but to the demands of one or two roofing contractors backed by the Gulf Coast Builders Exchange to shut the door to efforts to bring the corporate headquarters of the North American Roofing Company to our community. My ire was further elevated upon reading Mary Dougherty-Slapp’s recent column in SRQ Daily, which stated: “Let’s make Sarasota a place that businesses want to come to grow and hire workers with good paying and quality jobs.” So, are we now to believe that the GCBE, after advocating the very opposite in opposing Project Mulligan, now want us to believe that the board have had an epiphany? Hopefully so. The GCBE has always been a proponent of economic growth and vitality even though on this occasion they appeared to be in cahoots with those who would not be in favor of efforts to attract meaningful jobs to our community.

Diversification of our economy is a serious topic and I am heartened that the County Commission, encouraged by our newly elected Commissioners, have prioritized this subject for the BCC over the next year. As a community, we are asking for trouble if we do not take advantage of the incentives that are available for economic diversity. We need to balance the three-legged stool. It is not sufficient that we rest on our superior “quality of life” reputation to attract qualified targeted industries and corporate headquarters. These targeted industries are well documented by the State and are revised every three years. These industries have been identified as those that can help diversify local economies to make them more robust and resilient during an economic downturn or an economic recession. 

I am all for working together to create a strong future as suggested by Mary’s column. The tools necessary to do this are readily available for use in the right circumstances. However, we as a community need to seriously get behind these efforts and not simply put the interests of a few before the greater good when an opportunity such as Project Mulligan comes before us in the future.

There is a time honored maxim in my industry: “Dear God please give me one more real estate boom and I promise I won’t fritter it away.”

Ian Black is founder of Ian Black Real Estate.

For complete article and others, CLICK HERE <—–

 

Sarasota Sky Bar & Club opening in downtown Charles Ringling Building

Sarasota OKs Vengroff’s affordable housing project


Pic above by architect Nelson Roy

Via Herald Tribune 

By Emily Le Coz

The City Commission on Monday cleared the way for Sarasota’s first large-scale affordable housing project, unanimously agreeing to change its long-range growth plan to accommodate the complex.
The comprehensive plan amendment reclassifies the property at 2211 Fruitville Road as part of the downtown core, allowing developer Harvey Vengroff to build a higher-density apartment complex than would otherwise be permitted. Vengroff plans to construct as many as 393 apartments in five, six-story buildings, with rents ranging from $650 to $950 per month.
It was the commission’s second such hearing on the matter. The first, on May 2, ended with Vengroff storming out of the meeting over his objections to a proposed city requirement that he submit to annual, municipal property inspections not required of other housing.
The city has since agreed to drop that requirement, as long as Vengroff provides it copies of the annual inspections an insurance company will perform as part of its coverage of the property.
Vengroff said after the meeting he was pleased with the city’s compromise and the commission’s unanimous decision, and looks forward to advancing the project to the next step.
If all goes well, he said, construction could start within the next year and a half.
Most commissioners praised Vengroff’s project, saying it will fulfill a desperate need for housing among residents who struggle to afford Sarasota’s typically high rents.

For complete article, CLICK HERE <—

Apartment REITs Continue Their Selling Spree


Story via NREIOnline

Apartment REITs Continue Their Selling Spree

Bendix Anderson

May 24, 2016
Apartment REITs continue to cash in on their highly-priced properties as they prune their portfolios.
“Since 2011, we have completed the sale of $2.4 billion of assets and expect total dispositions to approach nearly $3 billion by the end of 2016,” says Richard J. Campo, chairman and CEO of Camden Property Trust, a multifamily REIT that owns and operates approximately 158 communities throughout the country.
Top REITs like Camden continue to sell large portfolios of properties and trophy assets in primary markets. The largest three multifamily REITs are buying assets selectively, if they buy at all, mostly in strong secondary markets in prime metropolitan areas, and are selling significantly more than they buy.
Equity Residential: net seller
Take Equity Residential, which was the largest apartment REIT in U.S. with 109,540 apartments, according to the Top 50 Owners list released in April by the National Multifamily Housing Council (NMHC).
The REIT is likely to have significantly fewer apartments on next year’s list.
Equity Residential sold 23,262 apartments to affiliates of Starwood Capital Group for $5.365 billion in the first quarter. The price is much higher than Equity paid for the properties—the sale generated an economic gain of approximately $2.0 billion and an unlevered internal rate of return of 11.3 percent. 
Equity Residential also cashed in by selling two properties in East Palo Alto, Calif., and New York City, for hundreds of millions of dollars more than it spent to buy them in 2010 and 2011. The REIT used the proceeds to retire $2 billion in debt and improve the company’s “already strong” credit metrics. Equity Residential also bought a handful of properties in places like Seattle, Los Angeles and Brooklyn, N.Y. recently, totaling $204.1 million.
Click here for complete article

Commercial Real Estate Profile: Ian Black

Commercial Real Estate Profile: Ian Black

 

145463114185-630x405

Ian Black founded Ian Black Real Estate as a boutique commercial real estate brokerage and management firm in Sarasota, following stints with Icorr Properties and Fred Starling Inc. Today the company is one of the largest commercial brokerages in Southwest Florida. Photo by Lori Sax

 

February 05, 2016

IAN BLACK
Founder and CEO,
Ian Black Real Estate
Sarasota

Ian Black Real Estate has been busy of late, and not just with the transactions the Sarasota-based commercial real estate brokerage and management firm has been closing in the region’s heated market.

In the past two months, firm founder and CEO Ian Black has named new partners, moved his office, sold his former business address and purchased an investment property in the city’s burgeoning Rosemary District.

His firm has also taken on additional lines of business, been moving into new territory and been involved in some of the largest deals of its 13-year history.

The moves come, too, amid a 30% hike in revenue in 2015.

Taken together, Black says the moves demonstrate the business is “growing up.”

“So much has happened of late that we need to make sure we don’t get ahead of ourselves, and I don’t think we have,” Black says. “We have a good team of people who work well together.”

Most noticeably, the firm moved its headquarters earlier this year to the 84,000-square-foot Kane Plaza office building in downtown Sarasota. There, Ian Black occupies 4,000 square feet and has rights to another 1,600 square feet.

As part of the shift from its long-standing quarters in the city’s Rosemary District, Ian Black also is spearheading roughly $10 million in renovations to the building’s lobby, common areas, bathrooms and signage with owner TerraCap Management, of Bonita Springs. The firm is handling both leasing and management of the property.

“We presented the landlord with a series of recommendations aimed at taking it from a (class) C building to a B-plus or an A building,” Black says.

To date, the recommendations are paying off with new tenants. When TerraCap acquired Kane Plaza, for instance, it was 76% occupied. Thanks to a series of outstanding leases Ian Black has negotiated, the building could be 92% committed by March.

“They’ve done a great job so far,” says Steve Good, a TerraCap partner. “They’re a good fit for us, and we’ve worked really well together as a team.”

While Ian Black has remained focused on Sarasota, the firm has begun chasing deals in Charlotte and Lee counties, as well. It has also expanded into tenant representation, corporate services and by taking on joint listings with giant brokerages like Cushman & Wakefield.

Internally, Ian Black has added partners Michele Fuller and Nick DeVito to its roster, bringing to six the number of principals in the firm. Black, 69, says the appointments recognize the strength and depth of the firm’s talent.

But the firm’s increasing business has really differentiated it. Late last month, firm partner Jag Grewal brokered the $20 million sale of a 30-acre tract in Charlotte County at the entrance of Gasparilla Island. The deal marked the largest in firm history, and came on the heels of its work in the $18 million purchase of the Main Plaza office and retail complex in downtown Sarasota late last year.

“When we made the decision not to have an internal leasing team, Ian was the first person and company I chatted with to do that,” says Fred Starling, a Sarasota County developer and investor whose 600,000-square-foot portfolio is leased by Ian Black.

“I’ve always been impressed with Ian and his team, and his ability to reach out, assess a deal and make recommendations,” Starling adds.

Black, too, has personally been making moves. Last month, he sold his firm’s office at 1069-1075 Central Ave., in Sarasota, for $510,000, and then acquired a building on the same street for $1.03 million through a 1031 tax-free exchange.

Black first invested in the city’s burgeoning Rosemary District in 1995.

And despite all the moves, Black says his ambition is that the firm will continue growing, and move further into tenant representation and receiverships, as well as asset management.

“I’d like us to continue to widen our base of skill sets,” he says. “We never want to be a big company and we know we don’t have the resources to compete in that arena, but I like to think that our marketing material and capabilities are on par with the big firms.

“We’ve had a lot to contend with all at one time, it’s true, but at the same time, we had a great year last year, so we’re thankful for that.”

Click here for the full article and others!

Multi-Family properties currently available on the Gulf Coast of Florida (7/22/15)

Multi-Family properties currently available on the Gulf Coast of Florida (7/22/15).

Sarasota-Manatee Tourism: From Europe, with love

cropped-wpid-photo-may-6-2013-1215-pm.jpg

British transplant Mark Toomey owns Robin Hood Rentals on Siesta Key.

 PHOTO by/ NICK ADAMS

By Dale White
Year after year, the Sarasota-Manatee region has been shattering its own records for attracting European tourists and 2015 appears to be no exception.

From 2010 through 2014, the numbers of Europeans patronizing area lodgings, restaurants and attractions from Anna Maria Island to Venice climbed by more than 50 percent – from more than 125,350 to more than 188,500. Reports from the first quarter of this year already show that foreign visitor count up 7.3 percent compared with the same three-month period of 2014. And the bulk of European visitors expected for this year are still two or more months away from making landfall.

Those year-over-year increases do not come by chance. Visit Sarasota County and the Bradenton Area Convention and Visitors Bureau credit a strategy that promotes this area as a destination for travelers from the United Kingdom and central European countries such as Germany, Austria and Switzerland. That strategy calls for targeted advertising and making connections with travel agencies most Europeans rely on. The strategy continues to work, even when the exchange rate is not in the dollar’s favor.

CLICK HERE <—– For complete article

Publix may be considering smaller stores

Publix may be considering smaller stores

By John Ceballos
Halifax Media Group

LAKELANDRumors of Publix Super Markets Inc. launching a smaller-scale version of its successful grocery stores have resurfaced.

Representatives from the Lakeland-based chain met with city of Gainesville planning staff members — including the planning manager, Ralph Hilliard — about constructing a smaller-concept prototype near the University of Florida campus, according to a report in The Gainesville Sun.

Publix spokesman Brian West declined to comment specifically on the development or imminent debut of a smaller store.

“We continually evaluate our store prototypes and market area opportunities,” West said. “There are many factors considered in site selection and choosing the appropriate prototype for the site.”

The Tampa Bay Business Journal reported in October that Publix was developing a design for a 20,000-square-foot store in Charlotte, North Carolina.

West said the average Publix store is about 45,000 square feet, and the chain’s current smallest location is 27,000 square feet.

The proposed site — 201 NW 13th St., Gainesville — is presently occupied by the city’s first McDonald’s, which opened in 1968. According to The Gainesville Sun report, McDonald’s officials are in the process of relocating the restaurant.

If Publix does debut a smaller-store prototype in the near future, the company would be joining a growing trend in the supermarket industry.

CLICK HERE for complete article <——

Manatee millennials to commission: It’s too expensive to live here

Manatee millennials to commission: It’s too expensive to live here

Affordable housing top issue for young Manatee residents, workers

Wearing “I am the Manatee Millennial Movement” buttons, the majority of Manatee County’s millennial team shared where they live with the county commission at its Tuesday meeting.

Renting apartments and homes, owning homes, living outside Manatee County and living with their parents were where the county employees who comprise the county’s 36-person millennial team call home.

During the presentation, they shared that there is a lack of workforce housing in Manatee County.

“We are not looking for a handout at all,” said Simone Peterson, a member of the millennial team and a county government neighborhood services specialist. “If I make $30,000, I want to live in a safe, affordable place.”

After talking with different players in the community, including builders and developers, workforce housing, placemaking and infrastructure were the top three concerns identified by the group, according to Peterson.