Longtime Pasco EDC VP Joins Commercial Real Estate Firm

Tampa Bay News Wire Click Here

 by 

John Walsh, who retired last December as Vice President from the Pasco Economic Development Council, has joined Commercial Asset Partners Realty. Walsh assumes the title of Commercial Sales Associate at the New Port Richey-based commercial real estate brokerage firm.

“John has a long history of putting together development deals and incentives for companies to enter the market in this area,” said Heidi Tuttle-Beisner, CCIM, Broker-Owner of CAP Realty. “His expertise, experience and ability to find the right sites for industrial and office users make him a great addition to the CAP Realty team.”

In his new role, Walsh will focus on brokering commercial real estate transactions for industrial and office properties and development sites in Pasco, Pinellas, Hernando and Hillsborough Counties.

“I’ve known Heidi a long time and worked with her on a number of projects while I was at the Pasco EDC,” said Walsh. “She has a lot of energy, knows how to get things done and has put together a great team. Those were big points that attracted me to CAP.”

In his previous role as the longtime Vice President at the Pasco Economic Development Council, Walsh oversaw operations and marketing strategies related to business recruitment and existing industry expansion, as well as the establishment of a county-wide entrepreneurship program. During the 17 years Walsh was at the Pasco EDC, he was personally involved in helping 140 companies create over 4,000 new jobs and invest more than $360 million in the county, and for nine years held a position on the Pasco County Development Review Committee.

“At CAP, I’ll work to help companies navigate the regulatory process so they don’t end up investing in properties that won’t truly work for them,” said Walsh. “I think I bring a perspective to the real estate process that will help clients find properties that will best accomplish their business needs.”

Walsh is a Certified Economic Developer through the International Economic Development Council, holds a Bachelor of Science in Psychology from the University of South Florida and is a graduate of Leadership Tampa Bay. He received his Sales Associate License from the Florida Department of Business Regulation in March.

About Commercial Asset Partners Realty: One of the top mid-sized commercial real estate companies in the Tampa Bay area, CAP Realty handles leasing and sales of retail, office and industrial properties, along with helping clients with real estate investment sales and land transactions. Based in Trinity, Fla., Broker-Owner Heidi Tuttle-Beisner and her team have built a company that has the experience and resources to handle a wide range of assignments, while offering a high level of personal service for each client. For more information, see the company’s website at www.cap-realty.com.

Distinctive Palm Harbor retail/office center sells for $5.79 million

Tampa Bay News Wire Click Here

 by 

Flo-Five Holdings LLC recently purchased The Key West Center, a retail and office property in Northern Pinellas County distinguished by its metal roofs, colorful siding and office balconies with white railings. The 63,256-square-foot property on 4.49 acres at 2706-2710 Alternate US Highway 19 in Palm Harbor sold for $5.79 million.

Charles Puccini, Sales Associate at Commercial Asset Partners Realty, represented the sellers, KWPH, Inc. and SST Properties, Inc. Michael Mehdipour, Broker at Elite Properties & Investments, represented the buyer, a private investor.

“The buyer was interested in spreading future rent risk with diversity of tenants,” said Puccini. “The Key West Center is diverse in its tenant makeup and longevity, so it was a good fit for this investor.”

The Key West Center is nearly half retail and half office suites and executive office space. The largest office suite is 6,000 square feet, and the average executive office is 125 square feet.

“This transaction speaks to the trend that businesses have been moving away from large Class A office spaces,” said Puccini. “There is growing demand for smaller, more efficient office spaces. The property’s executive center provides all the required features to run and operate a successful small business.”

The sellers owned and operated The Key West Center for more than 20 years. Selling the property involved Puccini working with two ownership entities with a total of 10 shareholders and 85 tenants in the center.

“There was substantial work involved in tracking the rental income every month to evidence the capitalization rate for the buyer,” said Puccini. “It was a complicated transaction. But we are qualified and able to handle transactions of this size and complexity.”

The Key West Center was 80 percent occupied at the time of sale.

About Commercial Asset Partners Realty: One of the top mid-sized commercial real estate companies in the Tampa Bay area, CAP Realty handles leasing and sales of retail, office and industrial properties, along with helping clients with real estate investment sales and land transactions. Based in Trinity, Fla., Broker-Owner Heidi Tuttle-Beisner and her team have built a company that has the experience and resources to handle a wide range of assignments, while offering a high level of personal service for each client. For more information, see the company’s website at www.cap-realty.com