Delray Beach and Boca Raton News and Insight

We've got our fingers firmly on the pulse of everything that is Delray-Boca.

And while we're not out to replace the local news media, we think you'll agree we have a very unique perspective to offer on some of the most important stories that affect current and future local residents.

Subscribe to our updates so you never miss a thing in Delray-Boca. Have a tip? Send it to us here.

8 November, 2013 0 Comments

FAU Marks Global Entrepreneurship Week

November 8, 2013 By David Reeves Leave a Comment

Entrepreneurship is the answer

Florida Atlantic University’s Adams Center for Entrepreneurship within the College of Business will celebrate Global Entrepreneurship Week beginning Monday, Nov. 18 through Sunday, Nov. 24, at FAU’s Boca Raton campus, 777 Glades Road.

Global Entrepreneurship Week is an international celebration of the innovators and job creators that launch startups in which ideas come to life, drive economic growth and expand human welfare. “Startup Weekend Boca Raton” anchors the celebratory week with a weekend event where entrepreneurs, developers, marketers and innovative thinkers team up to create startup ventures.

The following events offer FAU students, faculty and the greater FAU community opportunities to explore their potential as entrepreneurs and innovators:

2014 FAU Business Plan Competition – Meet the Winners and Entrepreneurs-in-Residence

Monday, Nov. 18, at 4 p.m.

This informative workshop provides attendees tips on how to register for the 2014 FAU Business Plan Competition, how to access business plan development and startup resources, and offers the opportunity to meet previous competition winners and the Entrepreneurs-in-Residence, highly experienced and successful executives, entrepreneurs, engineers and attorneys who provide guidance to FAU Business Plan Competition participants. Register today at www.fauwinners.eventbrite.com.

______________________________________________________________________________

Making Social Media Make Money

Tuesday, Nov. 19, at 5:30 p.m.

Social media has become a critical part of marketing for businesses and individuals. There are now more than 42 million Facebook fan pages offering unprecedented marketing opportunities. YouTube is one of the top websites in the world and individuals are using new marketing vehicles to make millions from their personal expertise. Jay Berkowitz, founder and CEO of Ten Golden Rules, will explore real case studies from 10 businesses and individuals who have used social media to deliver bottom-line profitability for themselves and their businesses. Register today at fausocialmedia.eventbrite.com.

______________________________________________________________________________

IBM SME Tookit for Entrepreneurs

Wednesday, Nov. 20, at 9 a.m.

IBM is a global institution embracing innovation. The IBM SME (Small Medium Enterprise) Toolkit is a free program that enables entrepreneurs and small businesses to learn how to implement the sustainable business management practices needed for growth in areas such as finance, accounting, international business, marketing and human resources. IBM Engineers will present this workshop and answer your IBM SME Toolkit questions. Register today at fauibm.eventbrite.com.

______________________________________________________________________________

Executive Forum Speaker Series: Scott H. Adams

Thursday, Nov. 21 at 5:30 p.m.

The Executive Forum Speaker Series is designed to provide the wealth of knowledge and experience of inspirational leaders and executives from a wide variety of businesses and industries. The speakers present a brief overview of their businesses, as well as specific professional experiences, followed by a discussion of key issues facing their industries in the current business and economic climate. This session features Scott H. Adams, founder of the FAU Adams Center for Entrepreneurship, a successful and innovative leader in the business community and an enthusiastic advocate of entrepreneurship and innovation. Adams will discuss strengthening the links between education, research, and the development of future business enterprises. Don’t miss this opportunity to engage with one of FAU’s most successful graduates. View the Executive Forum Speaker schedule and register at business.fau.edu/executiveforum.

______________________________________________________________________________

Entrepreneur Boot Camp: Special ‘Pitch’ Session

Friday, Nov. 22 at 9 a.m.

Entrepreneur Boot Camp is a fast-paced, 30-hour certificate course designed to help aspiring and seasoned entrepreneurs develop an effective business plan utilizing business development fundamentals. FAU students, alumni, faculty/staff and the greater FAU community are welcome to attend this session to learn more about Entrepreneur Boot Camp and hear aspiring entrepreneurs make their pitch. Register today at faubootcamp.eventbrite.com.

______________________________________________________________________________

Startup Weekend Boca Raton

Friday, Nov. 22-Sunday, Nov. 24

Startup Weekend is an exciting 54-hour weekend event open to students of all disciplines, FAU alumni and members of the FAU community. It begins with an idea, then teams of entrepreneurs, developers, marketers and innovative thinkers assemble to develop startup ventures. If you’re an “idea person,” entrepreneur, startup enthusiast, passionate about social change, or up for a life-changing weekend, Startup Weekend Boca Raton is for you. Register at bocaraton.startupweekend.org.

For more information on Global Entrepreneur Week, contact Maggie Kelly at 561-297-0927 or mkelly42@fau.edu, or visit business.fau.edu/gew.

4 November, 2013 0 Comments

Unique Office Project Enlivens US 1

November 4, 2013 By Jeff Perlman Leave a Comment

21 Drops is the anchor tenant for a cool new office project in Delray

We’ve been watching the redevelopment of an old automotive repair shop into an office development on South Federal Highway in Delray Beach.

It’s spectacular.

21 Drops, a Delray Beach aromatherapy oil company, commissioned Richard Jones Architecture to design its new corporate showroom and offices.

The new facility, being developed by Richard Caster, will be a historic restoration of a 1950’s era auto dealership structure originally designed by Sam Ogren; Delray Beach’s first resident architect.

Ogren is a local legend and much of the charm of his original design has been honored by the redevelopment.

When completed the project will apply for national historic designation and will feature 4 office suites,

new facades, parking, sidewalks and completely new interiors.

During a recent open house visitors to the project were wowed by the design, concept and cool features that will be preserved.

Caster’s vision was to modernize the historic charm of the Ogren design.

21 Drops is a promising company run by his wife. The aromatherapy brand has received tremendous publicity in recent months and is poised for national distribution and growth.

The brand was recently featured on NBC’s The Today Show.

Company visionary Cary Caster has a degree in botany and studied aromatherapy in Europe.

She is certified as an advanced clinical aroma-therapist.

As the project progresses, we will report on other new tenants moving into this very unique space.

30 October, 2013 0 Comments

The Interview: Bruce Allen Chair of the FAU Foundation

October 30, 2013 By David Reeves Leave a Comment

Bruce Allen is a long time community leader

We recently caught up with Bruce Allen, Chairman of the Florida Atlantic University Foundation. It was a fascinating conversation on the three big changes he has seen at FAU, speculation on the university’s first national sports title , the pride that comes with diversity and his deep roots in Delray/Boca. His grandfather ran a grocery store on Atlantic Avenue in the early 1900s. Enjoy.

First, please tell us about your relationship with FAU:

I am just one of those alumni who had a great college experience and stayed involved. After graduation, someone asked me to do an event with the Alumni Association. One thing led to another and now, as the Chair of the FAU Foundation, I have the opportunity to help make Florida Atlantic one of America’s most admired universities. My wife, my son, my brother and I all hold degrees from FAU.

There have been many positive changes at FAU in recent years. Name a few that come to mind:

The biggest change is the size of the student body. When I was a student, we had about 5,000 full-time students. Today, our student body is over 30,000 from all 50 states and 180 foreign countries. I am proud that our students are 49% minority making FAU the most diverse university in Florida. In addition, FAU has over 300 clubs and campus organizations. Our incoming freshman class has an average high school GPA of 3.43.

Another big change has been the addition of our medical school. We only take 64 medical students per year and they are all top notch. I have never met one that was not truly outstanding. Not just wicked smart but wonderful young people.

The growth of NCAA sports has been the third big change. Our 29,000 seat on campus stadium is a wonderful addition to campus life. I would like to share that it was built without one cent of taxpayer’s dollars. FAU is a member of Conference USA and competes in 19 NCAA Division One sports. I can’t wait until we win our first national championship. My guess is that it will be in baseball.

What is the role of the FAU Foundation and what types of causes does it support?

The $200 million FAU Foundation, for the most part, supports scholarships. The cost of a college education is growing very fast. It is becoming unaffordable to an average income family. I almost cried when a student told me that the small scholarship (I think it was $500) that she received from the FAU put enough gas in her car to allow her to drive to campus and finish her senior year. It really made a difference in her life. Even though most of our scholarships are larger, that story really hit home with me. In addition to scholarships, we also provide funds to bring in nationally and internationally known speakers and programs to FAU. Some of these are open to the public. Your readers can check www.fau.edu for full details. Our Lifelong Learning Center is one of the most outstanding in the United States.

Can you give us some “insider information” about any new programs, courses, etc., that we might be seeing at FAU in the coming years?

Okay, you twisted my arm. I’ll give you two: First, on March 29, 2014 the FAU Foundation will host “The FAU Gala” in the football stadium’s tower. It will be a modified Black Tie event. We plan to raise $1,500,000 to provide scholarships for our Military Veterans. The GI Bill really doesn’t cover everything returning veterans need. We want to give back to members of our military who have given so much to us. Second, in December, 2014 the “Boca Raton Bowl” will be played in the FAU Stadium. The game will be covered by ESPN. In addition, ESPN has the right to pick the two competing teams from Conference USA, the MAC or the American Athletic Conference. The game will be another strong economic driver from FAU to our community. By the way, it surprises most people to know that Florida Atlantic has an annual economic impact in our community of over $6 Billion.

We understand you’re a huge sports fan. If you could play any position on the football or basketball teams, what would it be?

I think I would be a cheerleader. That sounds a lot better to me than having some 300 pound lineman beat me into the ground. The FAU Cheer and Dance Teams do a great job at the games. Also, they are also wonderful FAU ambassadors at many community events like the Chamber of Commerce. GO OWLS !!

You’ve been a big part of the Boca Raton/Delray Beach community. Tell us a little bit about your position at US Trust, membership at Hammock Street Church, and anything else you’d like to cover.

I was born in Delray Beach. My grandfather settled in Delray in about 1910 and a photo of his grocery store on Atlantic Avenue hangs over the desk in my office which is also on Atlantic Avenue. I enjoy my work at US Trust. The people that I work with are great and my clients are stimulating and appreciate my efforts. While it is true that I am open about my faith, it does not bother me if someone disagrees with me. We all have a right to believe what we want to believe. It has been said, “I am in business to make a living, I am in life to make a difference.” I don’t know who said it, but it just about sums up my philosophy.

23 October, 2013 0 Comments

The Interview: Marc Hickman Photography Puts Your Business In Focus

October 23, 2013 By David Reeves Leave a Comment

Marc Hickman remains passionate about photography

We recently caught up with Marc Hickman of Marc Hickman Photography in Boca. He had this to say about his business as an experienced commercial photographer:

South Florida is a great place to live, play and run a business, especially a photography business. The Boca/Delray area is a great location base for my work. From a photographer’s standpoint, the climate and weather is a benefit because the lighting is outstanding when shooting on location. No long, rainy seasons or bitter cold. What about the heat? Well, the most beautiful light to photograph in, is at the “Magic Hours” usually an hour after sunrise and an hour before sunset.

Temperatures at those times are pretty tolerable even in the dead of summer. During the hot times you can find me in my cool studio. This region of the country is also wonderful for client prospects. It’s the gateway to Latin and Caribbean countries to the South and the Wall Street giants to the North. South Florida is the “business route” highway rest stop to do business. And these businesses are always looking for competitively priced commercial photographers. Could I make more money in larger metropolitan areas as a commercial photographer? Sure! But I feel the chemistry of business and “surf, sun, and sand” is a great combination that suits my lifestyle to a tee.

Tell us a little bit about your business and how you became one of the area’s leading commercial photographers:

Marc Hickman Photography has been in business for 15-plus years. We’re a full-service studio located in the heart of Boca Raton. I also have a team of graphic designers, printers, social media gurus, and PR firms that can help my clients with projects. Not only can I make sure my clients have great photography services, I can also lead them down the right path to a successful final product, whatever it is.

I consistently show attention to details followed by the drive to capture that perfect image for all our clients. We understand that maintaining a high level of excellence is “A Must” to stay relevant in today’s photography arena.

There are many types of commercial photographers. Please tell us what your niche in the marketplace is and how you differentiate yourself from other photographers:

I really love studio photography. Being able to have full control of my lighting is awe-inspiring, whether I’m shooting product, food, or people. I’m in control of the feel and the look of the lighting that is being produced.

Having my own studio lets me be close to my numerous lighting resources. Consequently I can not only create the lighting I love ,but also the lighting my clients expect to showcase their projects. However, I do love to get out of the studio from time to time and do architectural work. From industrial, real-estate, urban landscape to marine architecture, these projects always keep my location shooting techniques consistent .

What are some of your typical assignments?:

Typically, projects would be for companies that need images for their packaging designs, print catalogs, website content. I also do quite a bit of architectural and fashion work.

Can you tell us about any unusual assignments that may be of interest to our readers?:

To be honest, I think all my assignments are pretty unusual in some form or fashion. Some more than others I guess. Some of the things clients ask for can be pretty interesting.

But one time I was asked to photograph a home on a small private island. Everything was conducted very hush hush. I wasn’t even told whose property it was, or really even the location other than being down in the Caribbean. I was asked to meet a sea plane, fly out to the island, spend the day photographing the property and fly back that evening. The pilot stayed with me the entire day and I had a very specialized shot list . The place was awesome, totally self sufficient. Like it was its own little country. It was one of those times you say to yourself “That’s a lot of zeros for a place like this”. Other than being a private island with a really nice home/compound, it was nothing unusual. It was just how the transaction took place, very top secret. (I’m probably risking my life just telling you about it)

There’s no doubt that technology has changed the photography profession. Can you elaborate on this?:

Yes, there’s no doubt that technology has changed the photography profession. It is an understatement. This is a conversation I have with many of my colleagues on a daily basis. As technology advances and photography gear becomes more affordable, the market has become even more saturated with so-called commercial photographers. The market was flooded 15 years ago. Now it just seems that photographers are coming out of the woodwork. When I got into photography there was a structured level of photography services — low-end, middle, and high-end photography.

Today, it just seems to be low-end and a struggling high-end, and no value in the pricing of photography, with no integrity of professionalism in the imagery being created. A constant phrase I hear in the market is that “the photography is GOOD ENOUGH for the PRICE of the project”. I believe this is totally unsatisfactory. That’s why I’m on a one-photographer mission to change that perception and mind set, one client at a time. The customer/client deserves the VERY BEST photography at a competitive price range the market can bear.

Is there anything else you’d like to tell us that we haven’t covered?:

I still love photography and love the work I create. I know if I keep providing great photography services to my clients and stand behind my product I produce 110% I’ll be around this industry for a long time to come.

For more information on Marc Hickman Photography contact him at info@marchickmanphotography.com or visit www.marchickmanphotography.com

22 October, 2013 0 Comments

Florida Real Estate Market Showing Continued Strength

October 22, 2013 By Jeff Perlman Leave a Comment

Dr. John Tuccillo, chief economist for Florida Realtors, says market is resilient.

More closed sales—check.

Higher median prices—check.

Increased pending sales—check.

All signs point to a sunny outlook for Florida’s housing market, according to the latest data released by Florida Realtors®.

“Throughout the year, we’ve seen Florida’s housing market strengthen, and that positive momentum continued in September,” says 2013 Florida Realtors President Dean Asher, broker-owner with Don Asher & Associates Inc. in Orlando. “Home values are rising and many homeowners across the state see improving home equity. Those trends are helping to ease tight inventory levels in many areas as people who had been waiting on the sidelines decided to list their homes for sale. September marks 22 months in a row that the statewide median sales prices rose year-over-year for both single-family homes and for townhome-condo properties.”

Statewide closed sales of existing single-family homes totaled 18,490 in September, up 18.8 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. Closed sales typically occur 30 to 90 days after sales contracts are written. The local market in Palm Beach County appears even stronger than the state.

Meanwhile, pending sales – signed contracts not yet completed or closed – for existing single-family homes last month rose 10.5 percent over the previous September. The statewide median sales price for single-family existing homes last month was $170,000, up 17.2 percent from the previous year. The median is the midpoint; half the homes sold for more, half for less.

According to the National Association of Realtors (NAR), the national median sales price for existing single-family homes in August 2013 was $212,200, up 14.4 percent from the previous year. In California, the statewide median sales price for single-family existing homes in August was $441,330; in Massachusetts, it was $345,000; in Maryland, it was $272,895; and in New York, it was $242,000 making Florida an extraordinary value.

Looking at Florida’s year-to-year comparison for sales of townhouse-condos, a total of 8,279 units sold statewide last month, up 11.4 percent from September 2012. Meanwhile, pending sales for townhouse-condos last month increased 4.6 percent compared to the year-ago figure. The statewide median price for townhouse-condo properties was $130,000, up 23.5 percent over the previous year. NAR reported that the national median existing condo price in August 2013 was $211,700.

Inventory was at a 5.3-months’ supply in September for both single-family homes and for townhouse-condo properties, according to Florida Realtors.

“Not too long ago, the focus was on the strength and longevity of Florida’s housing market recovery, but we’ve moved into a slightly different stage of growth,” says Florida Realtors Chief Economist Dr. John Tuccillo. “Now, the focus turns to growth in different segments of the real estate market. For example, it is very difficult to find homes for sale priced under $200,000. Investors have taken whatever has come on the market in this range. However, despite this, inventory has definitely stabilized and appears to be on the verge of rising. More sellers are coming into the market — new listings are up — and investor demand appears to be cooling off a bit, as shown by the fact that cash sales as a percentage of all sales are falling.”

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 4.49 percent in September 2013, up from the 3.47 percent average recorded during the same month a year earlier. But despite the rising rates, buyers remain bullish on Florida real estate.

In Palm Beach County, home prices were up 11 percent in September from a year ago, with the median price for existing homes settling in at $250,000.

While looking strong measured against September 2012, prices have leveled off and stayed steady since March, which many realtors say is a good thing and will prevent the market from overheating.

Sales of single-family homes were up a whopping 21 percent over last year, according to the Realtors’ monthly report.

Palm Beach County also saw an impressive increase in the median price for existing condominiums last month. The median price hit $118,500, up 41 percent from a year earlier. But transactions were off 5 percent from a year ago.

Local realtors say that inventory in Palm Beach County is still lacking. That is having an impact on the length of time homes are staying on the market. Homes went under contract in a median 44 days last month, the lowest level in five years.

Interested in the Boca-Delray lifestyle? Contact us for in-depth community information. We can answer your questions about schools, taxes, crime rates, cultural opportunities and more. We also work with a trusted network of real estate professionals who can help you find your ideal home. Contact dave@yourdelrayboca.com with your questions and needs. No cost, no obligation, just real information from people who have lived, worked and raised our families in Boca Raton and Delray Beach.

21 October, 2013 0 Comments

Boca #2 Best Dressed Small City

October 21, 2013 By David Reeves Leave a Comment

Lynn U’s annual fashion show may be one reason why Boca is a best dressed city.

Well, in the coming year, as the Avis ads state, Boca Raton will just have to work a little harder.

In a recent survey by the Movato Blog, Boca was ranked No. 2 as the “best dressed small city in the country,” just behind Santa Monica.

With so much going in the world, this is not earth-shattering news, but here at www.yourdelrayboca.com, we just thought this would be of interest, something to bring up while you’re tailgating at an FAU game over a few cold ones. P.S. Delray was nowhere on the list…sigh.

So, what’s the criteria? There are plenty, but you’ll be happy to know that Boca ranked numero uno in tailoring and dry cleaning. According to the blog, Boca has one tailor for every 2,928 residents and one dry cleaner for every 1,273 residents. Guess it takes a lot to look good at the pricey, trendy spots in Boca.

The Movoto Blog https://www.movoto.com/blog/ is published by the Movoto Real Estate firm. The firm surveys cities with populations between 99,999 and 75,000. They used Yelp to determine how many of each type of store or service they have and counted the highest-priced results for clothes, shoes, and jewelry.

Here’s the full rankings of the Top 10

Santa Monica, CA
Boca Raton
Newport Beach, CA
Westminister, CA
San Mateo, CA
Santa Barbara, CA
Albany, NY
Evantson, IL
Mission Viego, CA
Miami Beach, CA

14 October, 2013 0 Comments

It’s Best To Protect Assets Before You Have A Problem

October 14, 2013 By David Reeves Leave a Comment

Barry Siegel urges you to plan ahead

By Barry D. Siegel, Esq., The Siegel Law Group, P.A., Boca Raton

Imagine a husband and wife out for a drive on a rainy day, a child runs into the road, and the worst possible thing happens. In addition to the emotional shock and heartbreak, they soon learn that they have been named as defendants in a wrongful death lawsuit.

They call their auto insurance agent to ask how much coverage they have in this case, and are told that coverage is the minimum the state requires, which is $300,000. The insurance agent advises them that the company will assign a defense attorney to defend them.

Some days later they meet with the defense attorney who has requested a complete list of financial assets and liabilities. As they prepare their financial statement they realize what a strong financial position they are in. They have a mortgage-free residence valued at $300,000, a $400,000 IRA, $875,000 in stocks and bonds, and $275,000 in cash accounts. Frankly, most couples in their 50s would feel quite secure with a net worth of $1,850,000 and several years to earn prior to their planned retirement.

Two days later they receive a complaint from the attorney for the child’s parents claiming damages of $5,000,000. They forward the complaint to their attorney and he advises them that, if they proceed to trial, they are quite likely to lose.

He suggests that they might want to engage in some planning to protect what they can, but because the lawsuit has occurred, there is little that can be done to protect assets. They are forced to hire a bankruptcy attorney to determine how much of their property can be protected from the $5,000,000 lawsuit by filing for bankruptcy. The bankruptcy attorney requests a $25,000 retainer.

It dawns on them that they had considered a meeting with their estate planning attorney to discuss asset protection, but decided that they were protected with their insurance coverage and didn’t really have time for a meeting.

Unfortunately, scenarios like this occur every day in America; and once you have a legal problem it’s too late to do asset protection planning. It’s like trying to buy insurance for your boat while it’s sinking in the midst of a storm. Planning has to be completed when the skies are clear, and before anyone has any possible claim on your assets.

The Siegel Law Group is based in Boca Raton and has practice specialties in Estate Planning, Elder Law, Tax Planning, and Asset Protection. For more information, contact Mr. Siegel at 561 955-8515 or bsiegel@siegelestateplanning.com.

7 October, 2013 1 Comment

International Sales Important for Florida Real Estate

October 7, 2013 By Jeff Perlman 1 Comment

International sales growth strong in Florida

Florida real estate is a hot commodity for foreign buyers.

International real estate deals made up 8 percent of all existing homes sales in Florida over a one-year period ending in July 2013, according to Florida Realtors®’ recently released “2013 Profile of International Home Buyers in Florida.”

By dollar volume, international real estate transactions made up 9 percent of sales over the same period.

The report is based on an annual study done by the National Association of Realtors® (NAR) in cooperation with Florida Realtors. A total of 977 Realtors responded to this year’s survey conducted July 9-Aug. 16, 2013.

For the study, foreign buyers were defined as non-resident foreigners – individuals who purchase property in the U.S. but live here only part of the year. These buyers typically use the property as a rental unit, vacation unit or both.

The international real estate market is important to Florida. Nationwide, 61 percent of all reported foreign sales take place in five states: Florida, California, Arizona, Texas and New York, according to NAR’s larger study on international homebuyer activity in the U.S. Of those five states, Florida has the largest share: 23 percent of national sales to foreign buyers closed in the Sunshine State.

For the 12 months ended July 2013, existing home sales in Florida – single-family homes, townhomes and condos – accounted for 327,350 transactions worth $74 billion dollars. Of that total, there were 22,572 transactions worth $6.4 billion dollars to foreigners.

Here are some highlights of the report:

Canadians lead the way (30 percent of total Florida international sales) as the largest source of buyers, followed by Venezuela (8 percent), Brazil (7 percent), and the U.K. (6 percent). Boca Raton has seen a surge in Brazilian buyers according to local realtors.
Two in three (63 percent) of Realtors in Florida have international clients, compared to the national average of 27 percent.
80 percent of surveyed Realtors said that international clients found Florida property less expensive than similar property in their home country. Overall, foreign buyers say the U.S. residential housing market provides a good value.
84 percent of international transactions are cash sales
International buyers had a preference for detached single-family homes (47 percent of Florida foreign sales), followed by townhouses (11 percent) and condominiums (34 percent).

Another emerging trend is the number of Asians who are investing in Florida real estate. While still lagging Canada, Brazil and Venezuela, a growing number of Chinese and Japanese buyers are discovering Florida. So far, the trend seems to be seen more in Fort Lauderdale and Miami than in Boca Raton or Delray Beach but experts say it’s only a matter of time before foreign buyers discover the quality and value of Palm Beach County.

2 October, 2013 0 Comments

The Interview: Charles Shane of Bryason Realty

October 2, 2013 By David Reeves Leave a Comment

Charles Shane and his “associates”

Bryason Realty Corporation is one of the area’s leading commercial real estate companies. We sat down with Bryason Principal Charles Shane to talk about real estate trends.

Please tell us a little bit about the company, its niche, and secret to success:

Bryason Realty Corporation is a boutique firm, based in downtown Boca Raton. We have successfully negotiated several of the largest sales in Boca Raton over recent years, each in excess of $35 million. We specialize in office/retail development, leasing, sales and property management. We manage several well-known “trophy” properties in town. Our geographical focus is South Palm Beach/North Broward Counties. Our success can be attributed to long-term relationships with a select group of clients, who have multiple real estate assets.

What are some of the trends you’re seeing in the local market and how it relates to the emergence of South County as a prime business location?:

The local market began showing increased activity early in the year, following five years of limited sales/leasing. We expect 2014 to be a banner year, with activity levels approaching 2007 levels. South County has long been established as a prime business location, with extensive amenities, low taxes, and business-friendly city administrations.

What are the “hot” areas and what types of businesses are moving here?:

Boca Raton remains #1! The Business Development Board of Palm Beach County reports that 90% of the inquiries received target Boca Raton. Recent new additions to the workforce in Boca Raton include high tech companies, medical research firms, and many financial and legal firms.

Why are businesses moving to the South County area?:

South County offers all the amenities – A-rated schools, beautiful beaches, parks and recreation, low taxes, and a broad spectrum of housing – from gated communities on the west side to beachfront luxury on the east.

For more information on Bryason, please visit www.bryason.com and view their market updates at theshanereport.com.

30 September, 2013 0 Comments

Changes Coming to Delray’s South Federal Highway

September 30, 2013 By Jeff Perlman Leave a Comment

Delray Place symbolizes a South Fed resurgence

After years of calling for a new vision and plan for the South Federal Highway corridor, residents of the southeastern gateway to Delray are starting to see lots of activity.

All four corners at Linton Boulevard and U.S. 1 have significant developments planned.

Consider:

Delray Plaza, long the anchor of the area is rumored to be adding an LA Fitness. Some residents are concerned about losing the Regal 18, for 20 years the go-to place to see a movie in Delray.
On the southwest corner, a new SunTrust Bank and Chick-Fil-A have been approved. The SunTrust will be constructed in what is now the parking lot of the existing SunTrust bank. Chick-Fil-A will occupy the site where the bank currently sits.
Nearby Linton Towers has been purchased by a partnership controlled by CDS International Holdings, owner of Atlantic Plaza downtown.
A much anticipatedTrader Joe’s is the lead tenant for Delray Place on the southeast corner.
On the northeast corner, construction is underway on a new Fresh Market. A new Mexican restaurant is also planned. Also on the northeast corner, a new Chase Bank (on an outparcel of the Old Harbour Plaza) is planned. The bank will be 3,550 feet with a two-lane drive thru.

Meanwhile, other key parcels along South Federal Highway are undergoing renovation projects.

Ed Morse Cadillac—construction is underway on a new 2,180 square foot body shop. A used card building will be removed to allow for a reconfiguration of a parking lot.

Delray Honda—the owner of the dealership is acquiring commercial property on the west side of South Federal Highway just north of the current location to build a new state of the art facility.

A new Wal-Mart is being built in a shopping plaza on the south end of the corridor in an existing shopping center.

And Out of Denmark, a well-known Delray restaurant, that has been on hiatus for a number of years is coming back to the corridor.

Still, a couple of sore spots remain. The leadership of the nearby Tropic Isle Civic Association recently met with city planners and economic development officials to urge that the city clean up some properties including an old dealership and a former hookah lounge which burned down.

The association is asking that the properties either be cleaned up or demolished.

The lounge was subsequently demolished.

The group also wants increased landscaping in the medians, compliance with landscape codes from commercial properties and better signage.

The neighborhood has also informed the city of what they would like to see in the area.

Desired uses include:

Restaurants, high end national chains
Indoor amusement and recreation facilities
High end car dealerships
Hotels
Office buildings, if the ground floor is retail, food service or a commercial use.
Movie theater
Walk in medical clinic
Mixed-use multi-family projects with retail/commercial on the first floor
Businesses that support car dealerships

Uses that would not be favored include:

Any 24-hour businesses
Pawnshops, astrologists, fortune tellers
Adult entertainment, including gambling or hookah businesses
Flea markets
Big box retail over 50,000 square feet