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> News of the day < Like cars in Detroit or chili in Texas, homes in Greenwich play various roles. Not just a dwelling, not just a way to keep score, houses — particularly the Versailles-like backcountry mansions in either their traditional or neo-monstrosity incarnations — are like an art form: critiqued, analyzed, psychoanalyzed, the way people in Manhattan used to [...] |
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Tappe White Real Estate Services welcomes Realtor June Johnson.
Johnson began her real estate career at a local, large and reputable brokerage. While there, she achieved success as a multimillion-dollar producer and earned recognition for her outstanding sales performance.
So why did Johnson change brokerages after already enjoying such professional success?
“I chose Tappe White because of their distinction,” said Johnson. “They share my passion for honesty and integrity.”
“Tappe White is Southlake’s premiere real estate brokerage and a perfect fit for me. I am honored to be a part of this family of industry leaders,” said Johnson.
“We love June’s spirit and energy,” said Allen Tappe, chief executive officer. “She loves this business and the people she serves through it. June is a perfect fit for us.”
Johnson gives her clients as many resources as possible to make their move as smooth as possible.
“I take great joy in personally referring clients to the best of the best. From doctors to daycare or simply suggesting great local restaurants; I enjoy helping my clients acclimate to their new neighborhoods,” said Johnson. “I want to be a source of information to my clients long after the transaction is complete.”
Prior to her career in real estate, Johnson developed advertising and marketing solutions for small business and non-profit organizations. This background provided a great foundation for her successful launch into real estate. However, her enthusiasm and dedication are what fuel Johnson’s commitment to her clients.
Educating clients to help them make smart, informed choices is also important to Johnson.
Target Corp. said late Friday that it won’t pursue ideas proposed by Pershing Square, a hedge-fund firm run by activist investor Bill Ackman, regarding its real estate portfolio. Ackman had proposed that Target spin off the land it owns into a real estate investment trust in a bid to boost the company’s value. But Target has concluded that the potential value created through the deals proposed by Pershing is too speculative and insufficient. “Target does not share Pershing Square’s perspective that execution of this proposed transaction will generate measurable shareholder value over time and believes the risks, particularly in light of the serious challenges facing our retail and credit card segments in 2008 and 2009, are significant,” said Chief Executive Gregg Steinhafel in a written statement.
American real estate agents say there’s a surefire way to help the country’s plummeting real estate market: Let foreigners retire here after they buy.
Miami agent Tony Macaluso is leading the charge to create a special new “Silver Card visa” that would ease restrictions on older immigrants — but the National Association of Realtors, Congress and the State Department aren’t biting just yet.
“This idea would be for someone who is over 50, who is retired, who has proof of income, who is not relying on our health care system or our welfare system,” Macaluso told FOX News.
“When they come here it would be on a non-work visa, so they would be retired [and] their wealth that they are earning in another county would be spent here in the United States. And if there is something we could clearly use is more money coming into the country,” he cotinued.
Foreign nationals who no longer work, but desire to spend their golden years in the United States can currently buy property here — and many do.
But most of them have only tourist visas and must leave the country every six months and wait a few months more before they can re-enter the United States.
“I don’t want to leave,” said French citizen Estelle Nezel, who owns property but lives in the U.S. on a tourist visa. “I just want to stay here.”
Other countries have realized the economic value of foreigners and the retirement capital flowing in to their nations.
Mexico, Panama and Costa Rica all encourage wealthy retirees to live in their respective countries with special visas, and even offer tax incentives. Partly because of this, an estimated 1 million Americans have retired to Mexico, 65,000 to Panama and another 35,000 to Costa Rica.
Nezel says she’s an example as to why it makes sense.
“If I stay here, I rent a car, I go shopping, I spend money. I’m not taking anything from America. On the contrary, I’m just giving,” she said.
While the National Association of Realtors has studied the “Silver Card” idea, it has yet to take a stand on it. The U.S. State Department, which issues more than 80 different types of visas, doesn’t comment on proposals before they’re mandated by Congress.
In the meantime, while Macaluso and other real estate agents struggle to find home buyers in dire economic times, they continue to work to persuade anyone who will listen of the advantages of a “silver card visa” for the United States.
“We need to step up to the plate saying, ‘This is a really great place to be. We have a fine country we would like you to share. We would love you to come and spend your retirement funds here within our borders,’” Macaluso said.
Ford Graphics leased 14,000 square feet of office and warehouse space at 1431 N.W. 17th Ave., Portland. Todd Collins of Macadam Forbes represented Ford Graphics;
Brad Carnese and Kevin Kriesien of Cushman & Wakefield of Oregon represented the lessor, NATI LLC.
Los Angeles-based Ford Graphics provides graphic services to the architecture, engineering and construction industries. Portland serves as its regional headquarters.
• Law firm Ater Wynne LLP signed an expansion lease for 8,655 square feet at the Lovejoy building, 1331 N.W. Lovejoy, Portland. Craig Reinhart and Chris Elsenbach of CRESA Partners represented Ater Wynne; Mark Friel, Buzz Ellis and Ben McInnis of Pacific Real Estate Partners Inc. represented the building owners, Unico Properties.
• Stanley Convergent Security Solutions renewed its lease for 6,145 square feet at the Pacific Corporate Center, 15495 S. W. Sequoia Parkway, Portland. Trevor Kafoury and Jason Green of CB Richard Ellis represented Stanley; the landlord, Pacific Realty Associates LP, represented itself.
• Beovich Walter & Friend Inc., a court reporting service, leased 5,131 square feet at Congress Center, 1001 S.W. Fifth Ave., Portland. Tom Remley and Julie Bennett of Grubb & Ellis Co. represented Beovich; Eric Castle of Shorenstein Properties represented the center.
•Curt Faus Corp., a residential contractor, leased 4,163 square feet at the Lake Oswego Executive Business Center, 5775 Jean Road. Jeff Snyder of Grubb & Ellis Co. represented Curt Faus; Eric Haskins and Jeff Syder, also of Grubb & Ellis, represented the owner, Illig Investments.
• Affinity Property Management subleased 3,883 square feet of unused space from law firm Miller Nash LLP at U.S. Bancorp Tower, 111 S.W. Fifth Ave., Portland. Tom Becic of Melvin Mark Brokerage Co. represented Miller Nash.
• Longevity Fitness Center Inc. leased 3,745 square feet at the Lake Oswego Executive Business Center. Jeff Snyder of Grubb & Ellis Co. represented Longevity; Eric Haskins and Jeff Snyder of Grubb & Ellis represented the owner, Illig Investments.
• Seguro Group Inc. leased 3,620 square feet at 6342 S.W. Macadam. Stephen Thompson and Mark Watson of Cushman & Wakefield of Oregon represented Seguro; Josh Schweitz of GVA Kidder Mathews represented the lessor, VanderHouwen and Associates Inc.
• Hitachi Consulting Corp. signed an expansion lease for 3,328 square feet at U.S. Bancorp Tower. Jeff Borlaug of NAI Norris, Beggs & Simpson represented Hitachi; Joe Vaughan of Pacific Real Estate Partners Inc. represented the tower, Unico Properties.
• Wellstone Group LLC, a financial planning firm, leased 3,072 square feet at 5800 S.W. Meadows Road, Lake Oswego. John Medak and Jennifer Medak of NAI Norris, Beggs & Simpson represented Wellstone; Jeff Sholian of Pacific Real Estate Partners Inc. represented the lessor, Kruse Way LLC.
• Michael Greenlick & Michael Levine, a civil and criminal law practice, leased 2,731 square feet at Congress Center, Portland. Dan Swift of Cushman & Wakefield of Oregon represented the attorneys; Brandon Frank, Eric Haskins and David Squire of Grubb & Ellis Co. represented Congress Center LP.
• Zoom Care PC, a chain of urgent care clinics, leased 1,500 square feet at Rock Creek Corporate Center, 3600 N.W. John Olsen Road, Hillsboro. Eric Haskins of Grubb & Ellis Co represented Zoom Care; Pat Schreck of Melvin Mark Brokerage Co. represented owner Kryptiq Corp.
• Five Guys Burgers and Fries, based in Lorton, Va., signed a new lease for 2,062 square feet at Willamette Marketplace, 2050 W. Eighth St., West Linn. Don Dowhaniuk of Staubach Retail Services NW represented Five Guys; Melissa Darm and Marc Strabic of CB Richard Ellis represented the owner, VPC-OR West Limited Partnership.
• Charlie Davidson purchased CedarOak Professional Building, a 15,419-square-foot office building at 18676 Willamette Drive, West Linn, from CedarOak Professional Building LLC for $2.84 million. Dann Wonser of Doug Bean & Associates Inc. represented the buyers, a family trust. Buck Reasor of Bluestone and Hockley Real Estate Services represented the three dentists selling the property. The buildings is leased to six tenants specializing in dentistry as well as Willamette Falls Hospital.
• Lake Road Medical LLC purchased a 16,800-square-foot medical office building at 6542 S.E. Lake Road, Milwaukie. Doug Campbell of Mele Taylor Westerdahl represented Lake Road Medical; John Medak and Jennifer Medak of NAI Norris, Beggs & Simpson represented the seller, Maginnis Family LLC.
• Adidas Village in Portland is one of five projects honored by the Urban Land Institute with a Global Award for Excellence. The Adidas Village project, by Adidas-Solomon North America and Winkler Development Corp., transformed a former hospital into the new corporate headquarters for Adidas and its 800 employees. It was the lone U.S. project to receive a Global award.
• Beaverton-based Mission Homes has opened the first phase of Jordan Park, a 12-home subdivision in the Cedar Hills area with prices starting at $589,000. The model home is at 10788 N.W. Jordan Lane.
Texas waterfront condominiums on The Island of Lake Travis will sell 12 condominiums at absolute auction, to the highest bidders from a pool of 36 condominiums, on Saturday, November 1st at 1 p.m. J.P. King Auction Company, the nation’s leading real estate auction marketing firm specializing in high-value properties, is managing the sale.
“The condominiums are a perfect primary residence or vacation retreat providing a leisure lifestyle with a private marina that includes more than 100 boat slips,” said Craig King, president & CEO of J.P. King. “It’s a one-of-a-kind opportunity to own on this 14-acre island surrounded by the sparkling blue waters of Lake Travis.”
The Island on Lake Travis features studio, one, two and three bedroom floor plans with Mediterranean architecture. The island escape has nine unique floor plans available, ranging from 423+/- to 1,500+/- square feet. The development features a number of units with vaulted ceilings, modern kitchens, walk-in closets and wood-burning fireplaces. Each unit comes complete with designated parking and a storage unit.
The one-of-kind island community is in the middle of Texas Hill Country and provides an assortment of amenities. The island’s newly constructed club house will feature a day spa, salon, fitness center, restaurant and bar. The island has a picnic & grill area adjacent to the private marina, perfect for family gatherings. Residents can relax and sun by one of the outdoor swimming pools or take advantage of the large indoor lap-style pool. For those who enjoy an active lifestyle, the island boasts a state-of-the-art fitness center, as well as newly equipped tennis and shuffleboard courts.
Individuals interested in additional information about the upcoming auction may contact J.P. King at 800.558.5464 or visit the company’s web site at www.jpking.com.
J.P. King, based in Gadsden, AL, the nation’s leading auction marketing firm specializing in high-value properties such as condominiums, developments, superluxury homes, ranches and land. J.P. King markets upscale properties in 49 states and 6 countries with recent sales in Florida, California, Tennessee, Washington, South Carolina, Texas, Oregon and Alabama.
One of the most common desires of teenagers is acquiring his or her own car. And when they truly deserve it, they do get one. Of course, before you can allow your son or daughter to drive on their own, they must first meet the required age to secure a license. In most cases, being able to secure a license means one thing for teenagers - freedom!
Once you’ve got your teens their cars, the next thing that you must think about is car insurance. One of the first and most important considerations is the price of the insurance premium. Most insurers charge higher premiums for auto insurance for teenagers. This is because these companies see most teen drivers as being more reckless and accident-prone than adults.
Fortunately, there are ways in which you can lessen the charges for your teenager’s car insurance. These factors might help you get a better deal in the future.
1. A spotless driving record. It is essential that you emphasize the importance of observing traffic laws and of having a clean driving record to your teenager. This means that they should avoid speeding tickets and other such traffic violations at all costs. And, while accidents do happen, being more aware can minimize the incidence of one happening. A clean driving record will be awarded with lower premium payments.
2. Look for auto insurance with a greater deductible. The premium payment is usually less for auto insurance that covers a higher deductible.
3. A car endowed with more safety features. It would be more beneficial to get your child a car that has a lot of advanced safety features. Avoid vehicles that fall under the higher hazard ranking class.
4. Follow license restrictions. Teenage drivers need to stick to the restrictions and guidelines that their licenses specify.
5. Get a stand-alone policy. With this kind of policy, your child will be responsible for his own insurance. As a new driver, he will only be allowed daylight driving, a certificate from a driving school, and the like.
As a parent, the most appropriate thing for you to do is to inculcate the value of responsibility in them. Make them accountable for whatever happens to their car. They can even work part-time so that they can pay for one-half of their premium.
Two regional banks with a significant presence in the Tampa Bay market reported drops in third quarter earnings.
BB&T Corp. and Whitney Holding Corp. cited challenges in real estate in Florida as among the reasons for the profit declines in separate earnings releases.
However, Republic Bancorp Inc., with a smaller presence in the Bay area, said its third quarter profit was up and it is looking for expansion opportunities in Tampa.
Republic (NASDAQ: RBCAA), the holding company for Republic Bank & Trust Co. and Republic Bank, posted net income for $4.5 million, or 22 cents a share, for the three months ended Sept. 30, a 6 percent increase over net income of $4.2 million, or 21 cents a share, in the same period a year earlier. Improved earnings were driven by an increase in interest income, as Republic cut its cost of funds, and a decrease in its provision for loan losses, a release from the Louisville, Ky.-based company said.
Republic, with five offices and about $52.7 million in deposits in the Bay area, said it has hired Ted Parker as chief executive of acquisitions and corporate strategy. Parker will lead the acquisition and expansion effort in Tampa and in Cincinnati, Ohio.
BB&T (NYSE: BBT) said net income for the third quarter of 2008 was $358 million, or 65 cents a share, compared with $444 million, or 80 cents a share, earned during the third quarter of 2007. Third quarter 2008 results included a $364 million provision for credit losses, an increase of $259 million compared to the same quarter last year. The increase in the provision was largely driven by continued challenges in residential real estate markets with the largest concentration of credit issues occurring in Georgia, Florida and metro Washington, the release said.
BB&T, based in Winston-Salem, N.C., has 50 offices and $1.8 billion in deposits in the Bay area.
Whitney (NASDAQ: WTNY) said it earned $7 million, or 11 cents a share, for the quarter ended Sept. 30, compared with net income of $48.8 million, or 71 cents a share, in the year-ago period. Earnings were impacted by the fragile economy and real estate valuation issues, particularly in Florida, John Hope III, chairman and chief executive, said in the release.
Continuing weaknesses in the residential real estate markets, primarily in Florida and coastal Alabama, accounted for about $25 million of the quarter’s $40 million provision for loan losses and about $11 million of the $24.5 million in charge-offs for the third quarter of 2008.
Whitney, based in New Orleans, has 18 offices and $354.9 million in deposits in the Bay area.
Corrigo International, which provides Web and wireless field tools to the construction industry, leased 8,178 square feet at Tualatin Commons, 8215 S.W. Tualatin Sherwood Road, Tualatin. Chris Elsenbach of CRESA Partners represented Corrigo; Charlie Floberg of NAI Norris, Beggs & Simpson represented the lessor, Re/Max Equity Group.
• Walker/Diloreto/Younie Inc. leased 5,826 square feet at Raleigh West Executive Building, 6443 S.W. Beaverton-Hillsdale Highway, Portland. Shawn Adams of CB Richard Ellis represented Walker; lessor Raleigh West Office LLC represented itself.
• Aras Systems Inc. leased 4,588 square feet at Cascade Plaza West, 12655 S.W. Center St., Beaverton. Don Drake of Melvin Mark Brokerage Co. represented Aras; Jan Bottcher of CB Richard Ellis represented the lessor, Washington Mutual Bank.
• Heery International, based in Atlanta, leased 4,143 square feet at Sunset Business Park, 9600 S.W. Barnes Road, Portland. Gordon King, Mike Holzgang and Brad Christiansen of Colliers International represented Heery; Tom Fellman of CB Richard Ellis represented the lessor, Suntek Park Company.
• Living Harvest Conscious Nutrition leased 3,629 square feet at the Paulson Building, 811 S.W. Naito Parkway, Portland. Mark Friel of Pacific Real Estate Partners Inc. brokered the transaction. ATC Partners is the lessor.
• Derek Brown & Associates leased 3,486 square feet at 1331 N.W. Lovejoy, Portland. Murin Lesewski of Apex Realty represented the tenant; Mark Friel, Buzz Ellis and Ben McInnis of Pacific Real Estate Partners Inc. represented the lessor, Block One LLC.
• Lunarr Inc., a software firm, leased 2,660 square feet at 5 Lincoln, 10200 S.W. Greenburg Road, Portland. Peter Andrews of Melvin Mark Brokerage Co. represented Lunarr; Jeff Borlaug and Bill Smith of NAI Norris, Beggs & Simpson represented the lessor, Lincoln Center LLC.
• Business Properties Trust leased 1,948 square feet at 1331 NW. Lovejoy, Portland. Murin Lesewski of Apex Realty represented the tenant; Mark Friel, Buzz Ellis and Ben McInnis of Pacific Real Estate Partners Inc. represented the owner, Block One LLC.
• RePower USA Corp. signed an expansion lease for 1,557 square feet at One Main Place, 101 S.W. Main St., Portland. Mark Friel of Pacific Real Estate Partners Inc. represented owner RREEF Management Co.
• Pro-Med Staffing Services, a medical staffing business, leased 1,495 square feet at Lincoln Tower, 10260 S.W. Greenburg Road, Portland. Jake Lancaster of Grubb & Ellis Co. represented Pro-Med; Bill Smith and Jeff Borlaug of NAI Norris, Beggs & Simpson represented lessor Lincoln Center LLC.
• Rgis LLC, based in Auburn Hills, Mich., leased 1,492 square feet at Hilltop Business Center, 7360 S.W. Hunziker Road, Portland. John Miller of CRESAPartners, represented Rgis; Shawn Adams of CB Richard Ellis represented lessor Hilltop Business Center LLC/Hunziker LLC.
• Hiromi Ogawa Architects Inc. leased 1,200 square feet at the Olympic Mills Commerce Center, 107 S.E. Washington St. Kathleen Healy and Mike Thelin of Urban Works Real Estate brokered the transaction. Olympic Mills Commerce Center, aka Beam Development, is the owner.
• Attorney Tiffany Davidson leased 947 square feet at Pacific Corporate Center, 6650 S.W. Redwood Lane, Portland. John Medak and Jennifer Medak represented Davidson. Pacific Realty Associates LP is the lessor.
Retail leasing
• Celtra Inc., operating as HairM, leased 3,500 square feet at One Main Place, 191 SW. Main St., Portland. Kathleen Healy of Urban Works Real Estate represented the salon; Ashley Heichelbech and Dan Bozich of Urban Works Real Estate represented the property.
• Sammy’s Flowers leased 855 square feet at 1128 N.W. Lovejoy. Kathleen Healy and Craig Sweitzer of Urban Works Real Estate brokered the transaction. Block 4 LLC is the lessor.
Transaction
• Greg Kincaid and Mike Thomas purchased the Beverly Court apartments, a 20-unit complex in Southeast Portland, for $1.08 million, or $54,250 per unit. Grayson Pounder of Hendricks & Partners represented the seller, Sanford Zeitz.
Industrial leasing
• The Yard Baseball Academy leased 5,611 square feet at Western Avenue Business Center, 5465 S.W. Western Ave., Beaverton. William Wright, Wright Commercial LLC, represented The Yard; Preston Greene and Charlie Digregorio of CB Richard Ellis represented the lessor, 30th Group LLC.
• Western Pacific Products Inc, which distributes truck parts, leased 5,200 square feet at 2334 N.W. St. Helens Road, Portland. Michael Merino and Scott MacLean of NAI Norris, Beggs & Simpson brokered the transaction. Lindquist Development is the lessor.
• D’vine Wine Inc., a shipping, receiving, storage and sales business, leased 4,720 square feet at Yeon Business Center, 3315 N.W. 26th Ave., Portland. Michael Merino and Scott MacLean represented the lessor, IPC Yeon Business Center LLC.
• Portland Payroll Inc. leased 3,928 square feet of flex/industrial space at Parkside Business Center, 8010 S.W. Cirrius Drive, Beaverton. Ken Boyko of NAI Norris, Beggs & Simpson brokered the transaction.
• Hopkins Advertising leased 2,500 square feet at Greentree West Business Park, 10950 S.W. Fifth, Beaverton. Ken Boyko of NAI Norris, Beggs & Simpson brokered the transaction.
Of note
• Backed by a construction loan from Seattle-based HomeStreet Bank, the former General Automotive Building, 411 N.W. Park, on Portland’s North Park Blocks, is being renovated in to a 40,000 square foot mixed use building with space for offices and retail. It will open in the third quarter of 2009 and is designed to meet the gold level criteria for the U.S. Green Building Council’s Leadership in Energy and Environmental Design program. Pacific Real Estate Partners represents the property.
