For the past 15 years, Hembree & Associates Property Management has provided real estate management and leasing services to Sarasota and Manatee County’s corporate and individual investors. Unlike a national chain property management company, Hembree & Associates has the local knowledge, the institutional procedures and the “boutique feel” to let owners know that their property is being given individual attention.
Let me be your single point of contact for everything related to your property.
Hembree & Associates’ local knowledge of the Southwest Florida leasing market has been invaluable to owners attempting to maximize the returns on their assets. Our company has managed and leased over a million square feet of property in Sarasota and Manatee County and has assisted in the sale or disposition of hundreds of millions of dollars in real estate.
I strive to maximize revenues while controlling operating expenses through a combination of (i) efficient service to promote tenant retention, (ii) aggressive marketing in the event of vacancies, (iii) accurate bookkeeping to provide information to monitor and improve progress and (iv) maintenance management that supports both short-term cash flow and long-term preservation of your property.
Our Property Management services include:
- Monthly financial reporting
- Monthly payment of expenses and debt service
- Annual budget projections
- Marketing, leasing, and advertising
- Collections and evictions
- Lease renewals
- Regular property inspections and supervision
- Supervision of on-site employees and contractors
- Tenant improvements and construction
- Outstanding tenant and vendor relationships
- 24/7 emergency response
Take from Moody’s Investor Services:
According to Moody’s Investor Services, commercial real-estate prices fell 8.6 percent in April. When viewed in combination with the 5.5 percent decline in January, it would seem “sellers are beginning to capitulate to the realities of commercial real-estate markets,” says Moody’s Managing Director Nick Levidy. He added more distressed sales appear [...]
As Morgan Stanley is ‘fessing up to it’s commercial real estate woes, it’s lament sounds eerily like many local, Sarasota based commercial real estate investors.
•Morgan Stanley is writing down 80% of the properties in Fund V U.S. and 60% in Fund VI International.
•Two investors — the $60.5 billion New Jersey State Investment Council and the [...]
Florida Supreme Court Ruling Clarifies Fate of Extreme Ballot Measure
(ORLANDO - June 17, 2009) The Florida Supreme Court issued a ruling on Wednesday that clarifies the status of the most controversial ballot initiative in Florida history. The decision–which came as no surprise to most observers–upheld a lower court ruling that prevented petition-signers from revoking their [...]
Property Overview
Highly visible signature building on US-41 in the Hospital Area is ideal for medical, law office, or financial professionals. Lots of windows for great views and abundant natural light. First floor lobby and restrooms are recently remodeled. Building exterior recenlty painted. This is a quality building well suited to users desiring an upscale image [...]
HUD SECTION 221(d)(4) LOANS
General Program Features:
· Purpose, to provide low market rate, rental housing for moderate income families
· New construction or substantial rehabilitation of existing apartment or co-op projects. Rehabilitation must encompass at least 15% of the project’s value after completion of the rehab, $6,500 per unit, or the replacement of a minimum of 2 [...]
1. Sizing up the storm – situational awareness
a. US Dollar - The U.S. dollar dropped to its lowest this year last Friday and was on track for its biggest weekly fall in two months.
b. Jobs Loss – More cutbacks, lower paying jobs, fewer multi-income families.
c. U.S. Housing Starts Down 77.6 Percent – Fewer new houses [...]
Despite the general grimness of the market, there is good news. One of the saving graces in Sarasota has been that we did not overbuilding in the commercial market. The value of building condos was too great in 2004-2006 to consider straying into commercial development. The Urban Land Institute makes some good observations:
In terms of [...]
This is an excellent resource from CIRE on workign with distressed properties in this market. Remembering that the other side is under more pressure than usual is key to undertsanding how you facilitate the negotiations and the due diligence process.
Do It Right: The ABCs of Due Diligence for Distressed Properties
By John F. Dougherty Jr.
Clients new [...]
With the mushrooming cloud of commercial real estate loans that are expected to default over the next two years, mortage acquisition groups are gearing up for what some term “the wild wild west”.
Read on:
Two years after fissures in the residential housing market gave way to a national collapse of home prices and sales, experts warn [...]
I believed, as many others did that the commercial market was somewhat immune to the problems afflicting the residential property sector. Among other things,this segment had witnessed less of the speculative excess that had undermined housing markets, the major players were more sophisticated and had deeper pockets, and the revenue streams that supported new and [...]
