How Covid–19 Will Affect Selling a Property and Using the Proceeds for a 1031 Tax Deferral Exchange

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Many of our NAI Miami clients have asked about how this Covid – 19 Virus pandemic will affect them when selling a property and then using the proceeds for a 1031 Tax Deferral Exchange. Though the IRS has not issued a proclamation of a federally declared disaster, we believe the IRS will make the proclamation shortly. The IRS during a federally declared disaster will allow the Seller to extend the time periods so long as the sale was completed before the IRS News Release stated in the information below. The time period extensions have to meet several conditions to be allowed extensions outlined in the information. This is a guide and NAI Miami recommends that you contact your accountants and other financial advisors on how to proceed with your 1031 exchange. Please contact us with any questions.

The Internal Revenue Service (“IRS”) provides insight into this question in its Revenue Procedure 2018-58 (the “Revenue Procedure”). The Revenue Procedure allows extensions to such 1031 deadlines in cases of federally declared disasters, but only if the IRS releases an IRS News Release or other guideline authorizing the Revenue Procedure to go into effect. So far, no such publication has been released, but it is possible that will change if the outbreak continues and markets become more unstable. So, for now the 1031 deadlines are still in effect, but real estate investors may want to pay close attention to IRS news releases to see if that changes.

In the event the IRS releases a publication effecting the Revenue Procedure, taxpayers may anticipate the following extensions to go into effect. If the end of a 45 or 180 deadline period falls on or after a date a federal disaster has been declared, the deadline can be extended until the later of: (i) 120 days and (ii) the last day of the general disaster extension period as indicated by the IRS News Release or other guidance which announced tax relief for victims of that particular federally declared disaster. However, it is important for taxpayers to recognize that the above extensions can be cut short; they may never extend beyond: (x) the taxpayer’s tax return due date, including any extension, for the year in which the transfer took place or (y) one year.

To qualify for the above extensions during federally declared disasters, sellers of real property also must meet one of the following criteria:

  • The sold property must have been sold on or prior to the date of the federally declared disaster
  • The taxpayer seeking the extension must be defined as an “affected taxpayer” as will be defined in the IRS News Release or other guidance announcing the tax relief
  • The taxpayer has difficulty making the 45- or 80-day deadline due to the federally declared disaster for the following, or similar, reasons:
  • The sold or replacement property is in the area covered by the disaster
  • The principal place of one of the parties in the transaction is in the disaster area
  • A party to the transaction is killed, injured or missing due to the disaster
  • A document prepared for the transaction is destroyed, damaged or lost as a result of the disaster
  • A lender decides not to fund the closing due to the disaster; or
  • A title insurance company is unable to provide the required title insurance due to the disaster.

If the federal government declares a disaster and the Revenue Procedure goes into effect, the entire United States will likely be within the federally declared disaster area, and some of the other reasons above may also be applicable. Therefore, many involved in 1031 like kind transactions may find some relief from the normally tighter deadlines imposed on them during such transactions.

Shopping & Other Resources for Seniors & Vulnerable Adults: Groceries & Other Items

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NAI Miami has put together a list of stores with specialty information for our most vulnerable population. Please share this with anyone who might need to know.

If you know of other places that we don’t mention here, please add a comment below and we will add it!

Remember, we’re all in this together.

Walmart

Delivery to your home:

  • Go to grocery.walmart.com. Shop through departments. Mark favorites to make it easier to shop next time.
  • Reserve delivery time.
  • $30 minimum order. Delivery memberships are $12.95 per month/$98 annual. Single use fee is up to $9.95. Prices are the same as in the stores. $10 off first order of $50 or more. Use code WOWFRESH

Drive Up Option: Purchase is delivered to your vehicle in the parking lot.

  • Select your store. Choose pick up time. They will text you when your order is ready. Drive to store. Park in designated spots. Call number on sign. They will load everything into your car. Notes: They email you if they need to make substitutions. If a substitution they made is not acceptable, just tell the person loading your car and they will remove that item and adjust your bill. No charge. No tipping permitted.
  • $30 minimum order. Prices are the same as in the stores.

In-store shopping for seniors: Tuesdays March 24 -April 28, Walmart stores will open one hour before regular hours for seniors aged 60 and older. Pharmacies and Vision Centers will also be open during this time.

Publix

Delivery to your home:

  • Go to delivery.publix.com to shop. (Facilitated by Instacart.) select your items. Check out & and select delivery time.
  • Prescriptions cannot be delivered.
  • The Instacart “shoppers” will text you if product or quantity substitutions are necessary due to availability.
  • You will be texted an estimated arrival time when the delivery is on the way.
  • Yearly membership $99 or $3.99 per delivery. First delivery fee is waived.
  • Minimum purchase $10. (Note: Instacart prices are slightly higher than in-store prices. Also, availability is the same as in the stores so they don’t have toilet paper either.)

Drive Up Option:

  • Order at delivery.publix.com. Choose pick up time. Drive to Publix at selected time, park in the designated Publix Curbside parking space, and call the store using the number on the sign. Give the Publix associate your name, and they will bring out your order and load it into your car.

In-store shopping for seniors: Publix will be opening for Seniors only for one hour at 7am on Tuesdays and Wednesdays beginning Tuesday March 24, 2020. The pharmacy will also be opening at 7am on those days.

Winn Dixie

Delivery to your home:

  • Delivery through Shipt. Membership required. $99 annually or $14 monthly. Orders over $35 are free with membership. Smaller orders are welcome but will incur a $7 service fee. Prices are the same as in the stores
  • Prescriptions cannot be delivered.

In-store shopping for seniors: They have a “suggested” seniors only shopping hour from 8 to 9AM, but aren’t enforcing it.

Aldi

Delivery to your home:

  • Go to https://www.aldi.us/en/shop-now/grocery-delivery/ (Delivery facilitated by Instacart)
  • Check out & and select delivery time.
  • The Instacart “shoppers” will text you if product or quantity substitutions are necessary due to availability
  • You will be texted an estimated arrival time when the delivery is on the way
  • Yearly membership $99 or $3.99 per delivery. free delivery on first 3 deliveries of $35 or more.
  • Minimum purchase $10. (Note: Instacart prices are slightly higher than in-store prices. Also, availability is the same as in the stores.)

No dedicated hours for seniors at this time

Fresh Market

Delivery to your home:

  • Go to https://delivery.thefreshmarket.com/ (Delivery facilitated by Instacart)

  • Check out & and select delivery time.

  • The Instacart “shoppers” will text you if product or quantity substitutions are necessary due to availability

  • You will be texted an estimated arrival time when the delivery is on the way

  • Groceries and prepared foods are available

  • Yearly membership $99 or $3.99 per delivery. Free delivery on first order of $35 or more.

  • Minimum purchase $10. (Note: Instacart prices are slightly higher than in-store prices. Also, availability is the same as in the stores.)

Drive-Up Option:

In-store shopping for seniors: Monday through Friday, first hour of business.

Target

Delivery to your home: Have purchase shipped to you using Shipt or Target.com. Go to Target.com.Select “Same Day delivery” on the red bar near top of page. Then select Grocery or other subtopic.

Drive-Up Option: Purchase is delivered to your vehicle in the parking lot.

  • NOTE: Drive Up is NOT available for perishable food, flowers, adult beverages and other select items.
  • Shop using the Target App; select Drive Up at checkout; wait for notification that order is ready for pick up; tell them when you’re on your way; park in the designated spot & let them know you’re there so they can load up your car.

In-store shopping for seniors and other vulnerable guests: First hour Wednesdays.

Order ahead to pick up quickly in store: They’ll have it waiting at store for you.

Whole Foods / Amazon

Go to https://www.amazon.com/alm/storefrontalmBrandId=QW1hem9uIEZyZXNo

  • Free 2 hour grocery delivery (Food comes from Whole Foods Market) with Amazon Prime membership $12.99 per month / $119 annual membership. *Prime membership also includes video/music/reading services. First 30 days of annual subscription free. Grocery prices are a little higher than other markets.
  • Not available to all locations in Broward.

Costco

Delivery to your home:

  • Membership not required, but 5% surcharge applies to non-members.
  • Go to https://delivery.thefreshmarket.com/ (Delivery facilitated by Instacart)
  • Same day delivery. Select delivery window. Instacart shopper will text or call to discuss a substitute, or refund you for that item. Instacart shopper will deliver your order. You must be present to accept delivery.
  • The order minimum is $35.
  • Yearly membership $99 or $3.99 per delivery. Free delivery on first order of $35. No separate delivery fee for orders of $75 or more.

Online orders shipped and delivered like any other package.

In-store shopping for seniors: Tuesday and Thursday 9:00 – 10:00 Coconut Creek location.

BJ’S Wholesale Club Instacart

Delivery to your home:

  • Go to https://www.bjs.com (Delivery facilitated by Instacart)
  • Instacart Yearly membership $99 or $3.99 per delivery. Free delivery on first order of $35 or more.

Drive Up Option: Shop through Instacart. Purchase is delivered to your vehicle in the parking lot.

Dollar General

Daily, first hour of business.

Big Lots

“First hour each day reserved for senior citizens and those most vulnerable to this virus.”

Amazon

Delivery to your home: Order non-perishable foods and other items at https://www.amazon.com

Restaurant Deliveries

Multiple delivery services will allow you to order from local restaurants that wouldn’t previously have had delivery service. (Fast food restaurants, full-service restaurants, etc.)

Here are 5 similar delivery services. (While each service does multiple restaurants, and most restaurants are served by more than one of these delivery services, not all restaurants are serviced by all services, so check to see which service your favorite restaurants.)

Note: Delivery fees combined with service fees can add up; check before you order.

Ubereats.com

  • Service fee (15% of order) + small order fee ($2) on orders under $10 + delivery fee (varies based on distance/time of day, but is currently $0 on many restaurants) + tip. Fastest delivery time.

Grubhub.com

  • Delivery fee (based on distance from restaurant) + small order fee on orders under $10 + tip.

Postmates.com

  • Delivery fee + service fee (percentage-based), + small order fee + “blitz pricing” during busy periods + tip.

Doordash.com Order fee and delivery fee

  • The standard delivery fee is $5.99. This can go up as high as $8 depending on distance or the agreement DoorDash has with the restaurant. During certain promotions, you can get discounts on delivery orders over $15.

Deliverydudes.com Order fee and delivery fee

  • delivery fee: $5 when paid in cash and $7 paid by credit card.
  • This service does NOT have you pay in advance. The delivery driver accepts your payment and usually has the Square card reader.

To order:

  • Go to the selected Delivery Service site.
  • Enter your zip code or address to see what restaurants are in their database in your area.
  • Select a restaurant. It will indicate the minimum order- each restaurant is different.
  • Delivery fees are additional (and may vary depending on time of day and demand), and tips for the driver are highly recommended.

Struggling to Make Meals as Well as to Obtain Ingredients?

Meals on Wheels of South Florida

  • Delivery to your home.
  • Regular and Kosher options available
  • Call (954) 731-8770

Aging & Disability Resource Center of Broward County

NAI Miami Challenges You to Reposition Yourself and Learn Something New!

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If you had all the time in the world what would you do?

NAI Miami challenges everyone to reposition themselves and learn something new as we quarantine to keep ourselves and loved ones safe and healthy.

Stay busy the smart way and pick up a book, listen to a podcast or do a deep dive into the “How To” world on Youtube.

Use the hashtags:

#LearnSomethingNew

#LearnSomethingNewChallenge

#ChallengeYourself

#StayBusy

#NAIMiami

#NAIMiamiStepsUp

To show us what you’re learning and how you are stepping up.

Challenge your friends and family to learn something new with you!

Things our NAI Miami family are learning:

  • How to create a podcast
  • How to edit using Adobe Premiere Pro
  • How to speak French
  • How to get more involved and help others

What are you going to learn?

#LearnSomethingNewChallenge to let us and your friends and family know that your staying busy the smart way.

If you’re interested in any Real Estate topics like:

  • How to invest in Real Estate?
  • How to get into Real Estate?
  • How to protect your Real Estate?

NAI Miami can hopefully teach you something new.

Check out our podcast “Getting on the Green” with Craig Merlin

Or find us on Youtube at NAI Miami

SBA Loan information for your Small Business

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We understand what all Small Businesses are going through, if you’re in need of financial assistance. Please make sure you check out these resources.

SBA Disaster Assistance

The U.S. Small Business Administration (SBA) is now providing up to $2 million in low-interest Disaster Loans in designated states and territories for business impacted by COVID-19.

The loans are available for economic injury caused by COVID-19. Small businesses can use loan proceeds to help overcome the temporary loss of revenue they are experiencing. Eligible uses include paying fixed debts, payroll, accounts receivable, and other bills that cannot be paid because of COVID-19 impacts.

Loan terms can be up to 30 years and the interest rate is 3.75% for businesses determined to not have credit available elsewhere. Nonprofits are eligible for loans at 2.75%. You can apply online today at this website: https://www.sba.gov/disaster

On March 26th, Florida SBDC at FIU is hosting a 30-minute webinar titled “SBA Disaster Assistance & COVID-19”. This webinar will discuss the SBA Economic Injury Disaster Loan program and provide a walkthrough on the online application process. Register for this short but insightful webinar today at: go.fiu.edu/assistance

Florida Emergency Bridge Loans

On Monday, the State of Florida activated the Florida Small Business Emergency Bridge Loan Program. Eligible business applicants can apply for an interest-free, one-year loan up to $50,000. Loans up to $100,000 can be made in special circumstances.

To be an eligible business applicant, all of the following must be true:

  • The business must have been established and actively operating a business physically located in Florida prior March 9, 2020.
  • The business must be a for-profit, privately held small business that has or had a minimum of two (2), but no more than one hundred (100), employees within the previous year of the date of the declared disaster (March 9, 2020). For purposes of this eligibility requirement, a minimum of two employees means the aggregate number of W-2 employees, “1099 employees” (i.e. independent contractors), and leased employees.
  • The business must have repaid, in full, any previous Florida Small Business Emergency Bridge Loan.
  • The business applicant must demonstrate that the business has suffered significant economic injury and is unable to pay current operating expenses as a result of COVID-19.

More information on the program is available at: https://floridadisasterloan.org/ and you can now apply online here: http://floridajobs.org/rebuildflorida/businessrecovery

Facebook Small Business Grants Program

Facebook announced it will be providing $100 million in cash grants and ad credits for up to 30,000 eligible small businesses in 30 countries. Applications are expected to roll out in a few weeks. In the meantime, more information on this program can be found here: https://www.facebook.com/business/grants

The company also has a Business Resource Hub that includes free information for small businesses on how to deal with impacts from COVID-19, best practices, and a self-assessment tool that you can download. That site is here: https://www.facebook.com/business/boost/resource

How Do You Maintain a Safe Workplace? Coronavirus (COVID -19) in the state of Florida

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Dear Community Member,

There are a slowly growing number of confirmed cases of Coronavirus (COVID -19) in the state of Florida. We continue to monitor and be proactive in connection with the Coronavirus. We are sending this communication to help connect people to resources and make each of us aware of steps we can take.

Below is a list of official websites to contact to be informed of the latest recommendations:

General info from the CDC : https://www.cdc.gov/coronavirus/2019-ncov/index.html

General info from the WHO: https://www.who.int/emergencies/diseases/novel-coronavirus-2019

The CDC Recommends:

  • Avoid close contact with people who are sick.
  • Avoid touching your eyes, nose, and mouth.
  • Stay home when you are sick.
  • Cover your cough or sneeze with a tissue, then throw the tissue in the trash.
  • Clean and disinfect frequently touched objects and surfaces using a regular household cleaning spray or wipe.
  • Follow CDC ’s recommendations for using a face mask.
  • CDC does not recommend that people who are well wear a facemask to protect themselves from respiratory diseases, including COVID -19.
  • Facemasks should be used by people who show symptoms of COVID -19 to help prevent the spread of the disease to others. The use of facemasks is also crucial for health workers and people who are taking care of someone in close settings (at home or in a health care facility).
  • Wash your hands often with soap and water for at least 20 seconds, especially after going to the bathroom; before eating; and after blowing your nose, coughing, or sneezing. o If soap and water are not readily available, use an alcohol-based hand sanitizer with at least 60% alcohol. Always wash hands with soap and water if hands are visibly dirty.

How Do You Maintain a Safe Workplace?

U.S.-based employers may have concerns about compliance with workplace safety laws, including the Occupational Safety and Health Act (OSHA). Under OSHA, workers have the right to working conditions that do not pose a risk of serious harm; to receive information and training about workplace hazards, among others. Employers should monitor the development of the coronavirus and analyze whether their employees could be at actual risk of exposure.

Employers may refer to OSHA’s Guidance for Preparing Workplaces for an Influenza Pandemic. While not written to address coronavirus specifically, this guidance does provide steps employers can take to address public health crises.

Employers should take some basic steps to help prevent the spread of disease and keep employees healthy

  • Educate employees on the signs and symptoms of the coronavirus and the precautions that can be taken to minimize the risk of contracting the virus. At present, the CDC believes symptoms appear within two to fourteen days after exposure, with some infected individuals showing little to no signs.
  • Provide hand sanitizer and hand washing stations, flu masks and facial tissues; encourage employees to wash hands with soap and water for at least 20 seconds; and cleaning and disinfecting frequently touched objects and surfaces.
  • Minimize unnecessary meetings and visitors.
  • Assess the risks of exposure by identifying workers who may have recently traveled to, come in direct contact with, or are scheduled to go to areas where there are confirmed Corona virus cases.
  • Implement and/or evaluate workplace emergency response protocols.
  • Implement travel guidelines and procedures for approvals for travel.
  • Allow sick employees to work from home or take leave as appropriate.

Together, as a community, we can work proactively to slow down or eliminate the potential risk to our community.

—————————

Estimado miembro de la comunidad:

Hay un número creciente de casos confirmados de Coronavirus (COVID -19) en el estado de Florida. Continuamos monitoreando y siendo proactivos en relación con el Coronavirus. Estamos enviando esta comunicación para ayudar a conectar a las personas con los recursos y hacernos conscientes de los pasos que podemos tomar.

A continuación se muestra una lista de sitios web oficiales para contactar para estar informado de las últimas recomendaciones:

Información general de los CDC: https://www.cdc.gov/coronavirus/2019-ncov/index.html

Información general de la OMS: https://www.who.int/emergencies/diseases/novel-coronavirus-2019

El CDC recomienda:

Evitar el contacto cercano con personas que están enfermas.

  • Evitar tocarse los ojos, la nariz y la boca.
  • Quédese en casa cuando esté enfermo.
  • Cúbrase la tos o estornude con un pañuelo desechable, luego tírelo a la basura.
  • Limpie y desinfecte los objetos y superficies que se tocan con frecuencia con un spray o toallita de limpieza doméstica.
  • Siga las recomendaciones de los CDC para usar una máscara facial.
  • Los CDC no recomiendan que las personas que están bien usan una máscara facial para protegerse de las enfermedades respiratorias, incluido COVID -19.
  • Las personas que muestran síntomas de COVID -19 deben usar máscaras faciales para ayudar a prevenir la propagación de la enfermedad a otras personas. El uso de mascarillas también es crucial para los trabajadores de la salud y las personas que cuidan a alguien en entornos cercanos (en el hogar en un centro de atención médica).
  • Lávese las manos con frecuencia con agua y jabón durante al menos 20 segundos, especialmente después de ir al baño; antes de comer; y después de sonarse la nariz, toser o estornudar. o Si no hay agua y jabón disponibles, use un desinfectante para manos a base de alcohol con al menos 60% de alcohol. Siempre lávese las manos con agua y jabón si las manos están visiblemente sucias.

Cómo mantener un lugar de trabajo seguro?

Los empleadores con sede en los EE. UU. Pueden tener inquietudes sobre el cumplimiento de las leyes de seguridad en el lugar de trabajo, incluida la Ley de Seguridad y Salud Ocupacional (OSHA). Bajo OSHA, los trabajadores tienen derecho a condiciones de trabajo que no presenten un riesgo de daño grave; recibir información y capacitación sobre riesgos laborales, entre otros. Los empleadores deben monitorear el desarrollo del coronavirus y analizar si sus empleados podrían estar en riesgo real de exposición.

Los empleadores pueden consultar la Guía de OSHA para preparar los lugares de trabajo para una pandemia de influenza. Si bien no está escrito para abordar el coronavirus específicamente, esta guía proporciona los pasos que los empleadores pueden tomar para abordar las crisis de salud pública.

Los empleadores deben tomar algunas medidas básicas para ayudar a prevenir la propagación de enfermedades y mantener saludables a los empleados:

  • Educar a los empleados sobre los signos y síntomas del coronavirus y las precauciones que se pueden tomar para minimizar el riesgo de contraer el virus. En la actualidad, los CDC creen que los síntomas aparecen dentro de dos a catorce días después de la exposición, y algunas personas infectadas muestran pocos o ningún signo.
  • Proporcionar desinfectante de manos y estaciones de lavado de manos, máscaras contra la gripe pañuelos faciales; alentar a los empleados a lavarse las manos con agua y jabón durante al menos 20 segundos; y limpiar y desinfectar objetos y superficies que se tocan con frecuencia.
  • Minimice las reuniones y visitas innecesarias.
  • Evaluar los riesgos de exposición mediante la identificación de los trabajadores que pueden haber viajado recientemente, entrar en contacto directo o programar visitas a áreas donde hay casos confirmados de virus Corona.
  • Implementar y / o evaluar protocolos de respuesta de emergencia en el lugar de trabajo.
  • Implementar pautas de viaje y procedimientos para la aprobación de viajes.
  • Permita que los empleados enfermos trabajen desde casa o se despidan según corresponda.

Juntos, como comunidad, podemos trabajar de manera proactiva para frenar o eliminar el riesgo potencial para nuestra comunidad.

NAI Miami Announces Prado Shopping Center is 100% Leased

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For Immediate Release

Contact: Edward Schmidt, CCIM

305-938-4000

es******@na******.com

NAI Miami Announces Prado Shopping Center is 100% Leased

MIAMI, FLORIDA – NAI Miami, a member of the world’s premier managed network of commercial real estate firms, announced today that they have successfully leased up The Prado Shopping Center located across from The Falls Mall at the Northwest Corner of US 1 (Dixie Highway) and Southwest 136thStreet in Miami, Florida.

“We are happy to have achieved this accomplishment for our client” stated Edward Schmidt, CCIM and Co-owner of NAI Miami. “Not only is Prado Shopping Center 100% leased, the quality of tenants in the center benefit both the owner and the surrounding community.”

When NAI Miami began leasing the space in 2009, the shopping center had several empty spaces and a lack of strong tenants in between the encap units. “TJ-Maxx, Pier 1 Imports, and Red Lobster have always been strong” said Brandon Weiss who worked with Schmidt in the lease up. “The center needed quality tenants to fill in the middle units.”

Now those tenants include The Keyes Company, Sprint, Sally Beauty Supply, Chana Thai Restaurant, Peter of London, The Nail Lounge, Frame Art, and Falls Dental Care.

The Prado Shopping Center was built in 2002 and is a 55,150 square foot retail strip center with 240 parking spaces.

About NAI Miami

NAI Miami is a commercial real estate organization with the passion, dedication and expertise to realize maximum potential and generate creative solutions for our clients worldwide. Our collaborative services platform provides an expansive, yet nimble responsive structure enabling us to efficiently deliver superior result. To learn more, visit www.naimiami.com.

About NAI Global

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of over 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.

NAI Global was acquired in 2012 by C-III Capital Partners, a commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, title services and multifamily property management. To learn more, visit www.naiglobal.com.

NAI Miami Negotiates Purchase of Industrial Building and Adjacent Land Parcel in Miami, Florida

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For Immediate Release

Contact:
David Oxios
786-476-8169
do****@na******.com

NAI Miami Negotiates Purchase of Industrial Building and Adjacent

Land Parcel in Miami, Florida

MIAMI, FLORIDA – NAI Miami, a member of the world’s premier managed network of commercial real estate firms, announced today David Oxios recently negotiated the purchase a 3,119 Square foot industrial building and an adjacent land parcel, totaling a combined 13,269 square feet lot located at 3195 & 3155 NW 20th Street, Miami, Florida for his client Hatecke Marina, LLC. The sellers were Estate James D. Nall Co., Inc. and James D. Nall Yacht Services, LLC.

This was not an arms-length transaction, as the sale was part of an Assignment for the Benefit of Creditors case. Buyer successfully out bid competing parties for the right to put property under contract and subsequently closed.

About Hatecke Marina, LLC (HML)

Hatecke Marina, LLC is planning to utilize this property to serve as a Marine Service Center carrying out MRO duties for the Hatecke Group and the broader Cruise Industry. HML plans to provide complete overhauls of lifeboats, tender boats, and rescue boats including point to point delivery from the Port of Miami to the newly created Marine Service Center located along the Miami River. HML also intends to provide refurbishments, engine services, and maintenance for recreational boaters.

About NAI Miami

NAI Miami is a commercial real estate organization with the passion, dedication and expertise to realize maximum potential and generate creative solutions for our clients worldwide. Our collaborative services platform provides an expansive, yet nimble responsive structure enabling us to efficiently deliver superior result. To learn more, visit www.naimiami.com.

About NAI Global

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing over 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.

NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. To learn more, visit www.naiglobal.com or www.naiglobalnewslink.com.

NAI Miami Donates over $1000 to Direct Relief to Help Puerto Rico Earthquake Recovery Efforts

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For Immediate Release

Contact:
Jackie Larkin, Director of Marketing
305.938.4000
ja**********@na******.com

MIAMI, FLORIDA – NAI Miami, a member of the world’s premier managed network of commercial real estate firms, announced today a donation of $1,380.60 has been made to Direct Relief for assistance in the recovery efforts cause by the many earthquakes Puerto Rico has been facing since December 28th.

“We are proud to support Direct Relief to help deliver necessary medicine and other essential equipment to the people of Puerto Rico”, said Jeremy Larkin, CEO of NAI Miami. “Given our close proximity and connection with many people who are currently living in Puerto Rico, we have a personal interest in helping our neighbours as it touches the lives of so many people in our community.”

The U.S. Geological Survey reported that over 500 earthquakes of magnitude 2 and above have hit Puerto Rico since December 28, 2019, including a 6.5 and 5.8-magnitude quakes this month.

Widespread power outages, a lack of running water, and ongoing tremors with the ability to potentially take down more structures are the most pressing issues facing the U.S. territory, in addition to about 2,000 evacuees who have left their homes in the southern part of the island, according to the Ivonne Rodriguez-Wiewall, head of Direct Relief’s Puerto Rico office.

“People are still very scared,” she said, while traveling with physicians and mental health care providers between four shelters around Guayama, Guánica, and Ponce.

“In Ponce, you can see the earth literally cracked.”

Dozens of homes collapsed in Guánica, according to that city’s mayor, and images of heavily damaged structures have emerged from locales throughout the southern part of the island.

“They’re moving into open spaces now, the earth is still shaking,” Rodriguez-Wiewall said.

“People didn’t know if it’s okay to drive, so they’re staying together… Authorities are evacuating everyone from buildings, including nursing homes and hospitals, more than two stories high.”

Rodriguez-Wiewall said close to 2,000 people have moved into open spaces and will be sleeping in FEMA and military-provided tents with cots.

Along with hundreds of other structures, the earthquakes have caused damage at three major hospitals in the south, which are being powered by generators. After visiting various shelters, Rodriguez-Wiewall said fear of structural damage and uncertainty about aftershocks have deterred some people from seeking out medical attention at hospitals and health care clinics in the area, making the mobile units and jeeps that were donated after Hurricane Maria key to medical response efforts.

Another resiliency measure — solar-powered water pumps — has also proved to be beneficial. The pumps, which were installed in communities located in the center and southeastern parts of the island with the help of Por Los Nuestros, have held up and allowed locals to maintain access to potable water, which was one of the most pressing issues after Hurricane Maria, and is currently a major concern in the aftermath of the earthquakes, especially in the south.

In response to the earthquakes, Direct Relief is sending essential medicines and supplies to Puerto Rico to supply 10 medical health provider teams at the request of Puerto Rico’s Department of Health.

Rodriguez-Wiewall said her team’s next steps are to continue planning a hub of medical services in Guánica, which is one of the biggest centers for displaced people, while responding to requests from local mayors.

About NAI Miami

NAI Miami is a commercial real estate organization with the passion, dedication and expertise to realize maximum potential and generate creative solutions for our clients worldwide. Our collaborative services platform provides an expansive, yet nimble responsive structure enabling us to efficiently deliver superior result. To learn more, visit www.naimiami.com.

About NAI Global

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of over 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.

NAI Global was acquired in 2012 by C-III Capital Partners, a commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, title services and multifamily property management. To learn more, visit www.naiglobal.com.

Jeremy S. Larkin Appointed to Past Chairman’s Council of NAI Global Members’ Leadership Board

/in , /by

For Immediate Release

Contact: Jackie Larkin
305.938.4000 Ext. 148
ja**********@na******.com

MIAMI, FLORIDA: Jeremy Larkin, Co-Chairman, NAI Miami, has been appointed to the Past Chairman’s Council of the NAI Global Members’ Leadership Board. NAI Global is a leading global commercial real estate brokerage firm.

“We are very pleased to continue to have Jeremy’s experience, guidance and support available to the Leadership Board,” said Jay Olshonsky, President of NAI Global. “The continued success of NAI Miami is a testament to his leadership skill. Our offices are very fortunate and benefit greatly from his experience.”

The NAI Leadership Board provides proactive leadership to increase the profitability, professionalism, technical capability, integrity and standards of practice that reinforce and foster mutual trust and respect throughout the enterprise. It fosters and promotes activities, education and communication that elevate the level of engagement and productivity of Members, Agents and the Organization at-large.

Larkin previously served as Chairman of the Leadership Board and on the NAI Global Leadership Board’s Coordination Council, comprised of executive officers, immediate past chairman, and NAI Global’s executive leaders. This group assures the alignment of strategies, goals and objectives so the organization can perform with the greatest degree of efficiency under a shared vision.

“I enjoyed my time as Chairman of NAI Global’s Leadership Board. It gives me great pleasure to continue to work with my colleagues from around the globe to enhance the depth and breadth of the brand and expand NAI Global’s platform to enable all members to grow their market share and profitability”, Larkin stated.

Larkin is one of the founding principals at NAI Miami which was formed in 1996. He primarily focuses on investment sales, distressed assets and private client services. Jeremy has been the recipient of several prestigious awards including numerous CoStar Power Broker Awards and South Florida Business Journal’s (SFBJ) Heavy Hitter’s Awards, SFBJ’s 2017 Power Leaders in Commercial Real Estate, and the 2013 SFBJ’s Ultimate CEO Award for Miami-Dade County, Florida.

About NAI Miami

NAI Miami is a commercial real estate organization with the passion, dedication and expertise to realize maximum potential and generate creative solutions for our clients worldwide. Our collaborative services platform provides an expansive, yet nimble responsive structure enabling us to efficiently deliver superior result. To learn more, visit www.naimiami.com.

About NAI Global

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing over 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.

NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.

To learn more, visit www.naiglobal.com

NAI Miami Negotiates Purchase of 7-11 in Lehigh Acres, Florida for $3.88 Million

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For Immediate Release

Contact:
Edward Schmidt, CCIM
305-938-4000
es******@na******.com

 

MIAMI, FLORIDA – NAI Miami, a member of the world’s premier managed network of commercial real estate firms, announced today Edward Schmidt, CCIM and Armando Bertematti recently negotiated the purchase of a 3,010 square foot retail 7-11 situated on 1.18 acres located at 55 Joel Boulevard in Lehigh Acres, Florida, for their client, 6950, Inc. The seller is Sered Joel, LLC.

About NAI Miami

NAI Miami is a commercial real estate organization with the passion, dedication and expertise to realize maximum potential and generate creative solutions for our clients worldwide. Our collaborative services platform provides an expansive, yet nimble responsive structure enabling us to efficiently deliver superior result. To learn more, visit www.naimiami.com.

About NAI Global

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing over 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.

NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.

To learn more, visit www.naiglobal.com