CAP Realty Blog

Pasco County is moving aggressively to attract new businesses, and has a number of resources available for companies moving there.

Abundant shovel-ready sites, a large workforce, a more efficient permitting process and incentives are some of the features awaiting businesses moving to Pasco County. Partner businesses and information on state and local business incentives can be found on the Pasco Economic Development Council website.

Meanwhile, the nonprofit Pasco Enterprise Network helps businesses with start-up issues from bookkeeping to planning to ownership, franchising, licensing and taxes. Businesses ready to take the next step toward growth also can find advice about cash flow, financing, marketing and research.  

And, of course, when you are ready to lease or purchase commercial space, CAP brokers are experts at finding the property that will fit your needs.

Fisherman’s Paradise, a floating resort, recently opened for business in the waters off of Clearwater, which could be of help to the local tourism economy.

In a recent Suncoast News article, Mark Douglas says the repurposed work barge will anchor in international waters 15 miles west of Clearwater in the area known to local anglers as The Middle Grounds.

It is unclear at this time whether the floating resort will remain in the Gulf waters after 2012. A visit to the Fisherman’s Paradise website indicates other Caribbean locations are in its future, but none have been confirmed.

To stay at this trendy resort, each guest must pay a membership fee of $100. Resort guests can dock their own boats in the barge's marina or arrive by shuttle or helicopter from St. Petersburg-Clearwater International Airport.

Dust is flying at the gateway entrance to the City of New Port Richey as workers complete the exterior of Main Street Landing – a shell that was supposed to be a mixed-use residential/office building.  With this project sitting empty for over five years and the empty building left by HCA’s Community Hospital, can creative minds help make the city of New Port Richey viable again?

Carol Kinnard, CAP associate and New Port Richey resident, drives by Main Street Landing every day. After the developer ran out of funds, Kinnard had hoped that city council would attempt to help the developer through alternative sources of funding (bonds, etc.) but the council voted the idea down.

Residents and business owners are very worried about the slow movement in efforts to make New Port Richey viable again. As one sign of progress, though, the council is talking about ramping up marketing efforts to attract more businesses and people to the city.

Another sign of progress - Greater New Port Richey Main Street - an organization dedicated to revitalizing the Historic business district—recently hired Beth Fregger as executive director.  Her goal is to make downtown New Port Richey a destination location.  Fregger uses other Florida cities like Dunedin and Melbourne as examples of cities that have been successful at their revitalization efforts.

New Port Richey has a lot going for it, Kinnard said, including excellent access to surrounding cities, and a good riverfront location. Still, a true comeback may require some sort of financial incentives or help from government officials.

The possibility of an outlet mall taking over the expansive space at Cypress Creek Town Center, located at the Pasco/Hillsborough County line (Interstate 75 and State Road 56), has created a buzz of hope for economic growth.

Word is Simon Property Group, the nation’s largest operator of outlet malls, is eyeing the Suncoast I-75 corridor for its next project. With two outlet malls already in Orlando and one at Ellenton, should the Simon Group move forward with the Cypress Creek location, it would corner the discount shoppers’ market in the center of the state.

Industries hopeful for the new outlet mall location include contractors/construction workers, real estate professionals, retail and small business owners and workers, and of course, consumers looking for a good deal.

For more information, read the article in The Suncoast News.

Finding the right medical space comes with unique challenges, from specific access to plumbing necessities.

Health care professionals looking for medical space should consider working with a professional who understands the various requirements specific to each health care specialty.

Commercial real estate professionals who hold the Associated Medical Office Expert (AMO) certification are well qualified to help in this area.

Working with a real estate pro who is AMO certified can alleviate some of the stress associated with finding new space and can help clients avoid costly mistakes. Certified AMO real estate professionals are specially trained in:

•    HIPAA, OSHA and the Privacy Act of 1974 compliance
•    State and federal regulations
•    Physical space requirements, i.e., larger hallways, exam room sinks, sprinkler systems

To learn more about the AMO certification, visit www.amoexp.com.

In another sign of the continuing vibrancy of discount retailers, Family Dollar Stores has six new locations slated for the Pasco County retail market. The first of these locations opened in December on State Road 52 at Colony Road in Hudson.

Discount chains like Dollar General, Dollar Tree and Family Dollar are making a considerable impact on commercial real estate in Pasco and the entire Tampa Bay area with their continued growth, despite the weak economy.

Developing a well thought-out budget is a simple concept but not as easily executed - preparing a budget can be quite a challenge. Fortunately, you don't have to face this challenge alone. A property manager can help alleviate budget stresses by offering expertise and assistance to review:

The commercial real estate outlook for 2012 is in from the National Association of Realtors® (NAR), and the bottom line is this: The tough economy means it will continue to be a good market for buyers and tenants, while continuing to be difficult for owners looking to sell their properties or fill their buildings.

Meanwhile, we continue to see increased activity in the Tampa Bay market, but to sell, properties need to be priced right, and marketing efforts must focus on a targeted approach that attracts buyers with the capital to get things done.

Here’s a look at some highlights from the NAR overview:

Even as some lenders are making it tougher for small businesses to get loans, there’s an excellent option that remains strong – loans from the U.S. Small Business Administration (SBA).

For small businesses thinking about getting a loan to purchase a facility, the SBA is actively helping established businesses with positive cash flow get long-term loans.

Commercial office condos are a good idea for businesses that want to own their own space without all of the headaches that go along with ownership. With an office condominium, small business owners can purchase a space, build equity, and then sell the space if and when they choose.