Business lessons from Tom James’ museum plans

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By Margie Manning

After leading a 10-year effort to build a new home for the Dali Museum, Tom James has turned his focus to another cultural asset for downtown St. Petersburg. James, executive chairman of Raymond James Financial Inc., is planning a museum that would house part of his and his wife, Mary’s, extensive collection of western and wildlife art.

In talking to James, I realized there was much to be learned about his business philosophy.

Learn from others. James has visited lots of museums featuring western…

Source:: BizJournal Real Estate

Putting the ‘work’ in live work play: Tampa office deals boost revitalization efforts

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By Ashley Gurbal Kritzer

By now, it seems trite to sum up one’s approach to the commercial real estate market as “cautious optimism.” But cliche or not, it’s still true, especially for Tampa Bay’s office market, said KC Tenukas, senior vice president with Cassidy Turley in Tampa.

“I’m leaning on the optimism side,” he said. “I think Tampa’s got a tremendous amount of upside.”

Tenukas represented Total Quality Logistics in its lease of 36,000 square feet of office space in Knights Point, a commercial waterfront complex…

Source:: BizJournal Real Estate

Report: Sales of small businesses rise as sellers earn higher prices

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By Bob House

Sales of small businesses in the United States remained at historically high levels in the third quarter, according to a BizBuySell.com report.

A total of 1,987 closed transactions were reported in the third quarter this year, representing both a 17.9 percent increase from last year and the highest number of small business sales recorded in a third quarter since BizBuySell began tracking data in 2007.

This quarter’s numbers slipped just 2.1 percent from the second quarter of 2014, which remains…

Source:: BizJournal Real Estate

From the financial crisis to the Sandusky scandal, this one trait gave success to Karen Peetz of BNY Mellon

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By Hilary Burns

It’s hard to fluster Karen Peetz. A 32-year banking vet, Peetz helped BNY Mellon recover from 9/11, led the bank through the 2008 financial crisis and also chaired Penn State’s Board of Trustees through the Jerry Sandusky scandal.

She is now the president of BNY Mellon, overseeing the company’s global client management, regional management and treasury services business — plus all 50,000 employees.

Before BNY Mellon, Peetz worked for JPMorgan Chase for 16 years in sales and business-management…

Source:: BizJournal Real Estate

St. Pete arts group has grand plans for giant warehouse complex

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By Eric Snider

In just a couple of years, the Warehouse Arts District has become the creative nexus of St. Petersburg.

The area — which runs from 1st Avenue North to 10th Avenue South, and 16th to 31st streets — is home to a variety of studios, galleries and arts organizations, but also includes a lot of industrial businesses.

Now the nonprofit Warehouse Arts District Association (WADA) is making a bold move to solidify the district as an arts haven for years to come.

The group has under contract a 2.7-acre…

Source:: BizJournal Real Estate

Exclusive: $6 million speculative mansion breaks ground on Davis Islands (Video)

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By Ashley Gurbal Kritzer

A low-slung brick home on Davis Islands with a panoramic waterfront view will be demolished to make way for a speculative mansion priced at up to $6 million.

The same development team that has pulled off three other speculative mansions on Davis Islands — two of which have sold for more than $3 million— is pursuing this development, at 556 Riviera Drive, on a lot that’s 157 feet deep and 100 feet wide. The group, led by Vincent Cassidy, paid $2.4 million for the home and has taken out a $3.17…

Source:: BizJournal Real Estate

Where have all the first-time buyers gone?

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By Kent Hoover

Here’s a troubling trend for the housing market: First-time buyers now account for only one-third of all home purchases, the lowest share since 1987.

That’s according to an annual survey conducted by the National Association of Realtors, which questioned a random sample of people who purchased homes between July 2013 and June 2014.

It’s not just not as easy as it used to be for young adults to purchase a home, said NAR Chief Economist Lawrence Yun.

“Rising rents and repaying student loan debt…

Source:: BizJournal Real Estate