Commercial real estate powerhouse snags fast-growing Vertical Integration

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Commercial real estate powerhouse Savills Studley has acquired one of the Tampa Bay area’s fastest-growing firms, woman-owned Vertical Integration Inc.

Ann Duncan, president and founder of Vertical Integration, and her team will join Savills Studley and Duncan will become head of the company’s occupier services, a statement said.

Financial terms of the deal were not disclosed.

A “red-hot” property investment environment, soaring company valuations and globalization have increased mergers… …read more

What companies millennials favor says a lot about the economy

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From bike rentals and couch surfing to transportation and travel, the so-called “sharing economy” will have a greater impact on the economy in the coming years, according to a new report.

“Sharing economy” industries, including travel, car sharing, hospitality, finance, staffing and music and video streaming, have the potential to increase global revenues from $15 billion today to $335 billion by 2025, according to a report from PricewaterhouseCoopers.

The report said people between the age of… …read more

Chinese, Middle Eastern capital chasing real estate deals in Tampa Bay

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International investors are seriously looking at Tampa, adding a new source of financing that could bolster the city’s growth.

“Tampa is just very well received right now,” said Daniel Peek, senior managing director of the hospitality group with HFF LP in Tampa. “Tampa presents a great growth story right now, and it’s nice to see.”

Tampa Bay Lightning Owner Jeff Vinik’s plans to build a billion-dollar, mixed-use district on the southern fringe of downtown Tampa are creating some buzz among investors,… …read more

Howard Frankland is the traffic spot that gives TBBJ readers the biggest headache

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In a survey of more than 300 Tampa Bay Business Journal readers, Interstate 275 — specifically the Howard Frankland bridge — was found to be the most complained about traffic spot.

More people complained about driving on the bridge, specifically the Northbound exit at Kennedy Boulevard leading into the Westshore area, more than any other area in Tampa Bay.

Downtown Tampa, the Fowler area and the intersection of Gandy and Roosevelt Boulevards in St. Petersburg were some other areas along I-275… …read more

Tribune’s pending real estate deal signals confidence in downtown Tampa

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If the Tampa Tribune’s pending real estate deal comes to fruition, it will be a ringing endorsement of the potential for development deals in the urban core.

The Tribune’s riverfront site in downtown Tampa is under contract to a developer who is planning a residential project there that could possibly include commercial uses, multiple real estate sources told the Tampa Bay Business Journal on Friday. The developer pursuing the project is believed to be The Related Group, which is based in South… …read more

Managing: How to tell your staff you’re resigning… Plus, Is a cheetah-print outfit OK for work?

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Each week Alison Green, who also writes the “Ask a Manager” website, answers workplace and management questions from readers. Please comment or ask your own question by emailing her at alison@askamanager.org.

Question 1. How a manager should tell her staff she’s resigning

I know I’m leaving my current place of employment. My boss and I have a good relationship, and she has known for a while. The delay is some background check processes for my new job.

I am finally at the point where I can hand… …read more

Tampa Tribune site in downtown Tampa under contract for redevelopment play, sources say

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The Tampa Tribune’s building in downtown Tampa is said to be under contract to a developer who plans to redevelop the property.

The Tribune’s building at 202 S. Parker St. will be sold to a developer who is planning a residential project there that could possibly include commercial uses, according to multiple sources who asked not to be named because of the sensitivity of the deal.

Under contract is the 4.4-acre riverfront site that is home to a nearly 60,000-square-foot building occupied by… …read more

SunTrust survey: Many higher-income households living paycheck to paycheck

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Nearly one-third of higher-income households said they live paycheck to paycheck at least sometimes, and 44 percent agreed that spending on lifestyle purchases such as dining out and entertainment causes them to save less than they should each month.

Those are the findings of a new SunTrust survey conducted online by Harris Poll among those whose households make $75,000 or more annually.

For millennials with the same household income, that number jumps to 71 percent.

Other findings from the survey… …read more

Scenes from Florida Poly and where I’ll be next week

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SCIENCE GRAFITTI: I dropped by Florida Polytechnic University last week to update our images of the Innovation, Science and Technology building, a design marvel by architect Santiago Calatrava. Pictured are science doodles as seen on outside glass that rings the circumference of the building. (See photo)

April 20

Noon: TBBJ executive roundtable on transportation and logistics. Our invite-only monthly roundtable lunches are designed to develop story ideas and relationships. Next one: Residential… …read more

Tampa businessman bids on Rivergate Tower in downtown Tampa

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Motivated as much by passion as potential profits, a Tampa entrepreneur is bidding on the city’s most iconic skyscraper.

Tom Frederick, who was a partner in Zeno Office Solutions before selling the company to Xerox in 2013, said Thursday that he submitted a $60 million offer for the Rivergate Tower, the 31-story cylindrical office tower on North Ashley Drive.

Offers were due Tuesday, Frederick said. He wasn’t sure when CBRE Group Inc., which took the property to market earlier this year, plans… …read more