Feature Story
International Exposure, Reputation Ensure Success for Colliers Arnold’s Associates and Clients in Southwest Florida
By Elizabeth W. Pearce

It’s been 10 years since Colliers Arnold established its first Southwest Florida office in Fort Myers. Although it opened initially with little fanfare, the full-service, commercial real estate brokerage is now a major presence in the tri-county market and beyond.

“From the outset, our goal was to be the dominant player on Florida’s west coast, from the Panhandle south to Naples, and Fort Myers is a key part of that strategy,” says Patrick Duffy, president of Colliers Arnold.

Founded in Tampa in 1974, Colliers Arnold is a partner of Colliers International, a global real estate services firm. The strength of Colliers Arnold’s worldwide affiliates, combined with the experience of its west coast brokers, has solidified Colliers Arnold’s reputation as one of Florida’s leading commercial brokerages. Its professional services range from sales, leasing and property/asset management to corporate, valuation and consulting services.

In addition to its offices in Tampa and Fort Myers, Colliers Arnold has locations in Orlando, Clearwater and Naples. The company is also well represented on Florida’s east coast through its Colliers International partners in Jacksonville, Miami and Fort Lauderdale.

“In terms of name recognition, we have a competitive edge,” says Duffy of his company’s association with Colliers International. “When someone gets a call from one of our brokers, they know it’s credible.”

Strength in Numbers

Based on reported revenue of $1.7 billion in 2006, Colliers International is recognized as the second-largest commercial real estate organization “on the planet,” says Duffy. Also last year, the company reported total transactions valued at $63.5 billion worldwide, with almost 673 million square feet of commercial space under management. Earlier this year, it was ranked the #1 commercial real estate company for outsourcing by Fortune magazine.

Without question, Colliers International’s global presence provides significant networking advantages to its partners and their commercial agents. At last count, the organization was established in 250 markets spanning 57 countries.

Of the approximately 65 agents who work for Colliers Arnold, three are based in Naples: Charlene Greenblatt, Salli Jones-Doyon and Jason Chang. Eight others work in the Fort Myers office, including Karl Lippek, CCIM, who helped establish the office originally.

In addition to Lippek, Karen Johnson-Crowther and Jim Garinger, CCIM, are principals in the Fort Myers office. The brokerage team’s other key members are Jim Tamblyn, CCIM, Lindsey Schmoyer, William Mankin, Mike Komar and Andrew Falde.

Duffy describes them as “an exceptional group of highly ethical, highly skilled professionals, assisted by an incredible support staff.” More important, he says, they are well qualified to uphold the Colliers mission: “To be the superior supplier of real estate services and solutions with an absolute commitment to ethics and integrity ... where the client’s interest is best served.”

Company-wide, Colliers Arnold boasts 25 agents who have earned the Certified Commercial Investment Manager (CCIM) designation, including current and former CCIM instructors, and current presidents of two regional chapters in Florida (Southwest and Central). In Fort Myers, Jim Tamblyn, CCIM, is this year’s president of the Southwest Florida chapter, succeeding co-worker Jim Garinger, CCIM.

Areas of Expertise

While most Colliers Arnold agents have the experience to handle essentially any commercial transaction, each is considered an expert in one or two commercial areas. Frequently, they collaborate on sales and leases and will even refer clients to other Colliers specialists if it’s in the client’s best interest.

“We have an open-door policy in every office, so we look for brokers who deal fairly, and who embrace a cooperative, collaborative environment,” says Duffy. “I have found that to be true of the people we work with in Fort Myers.”

Bill Mankin
Office & Industrial

Bill Mankin joined Colliers Arnold a year ago, when he recognized “a tremendous opportunity with a high-quality company.” It helped that he already knew most of the staff, having worked previously with agents Karen Johnson-Crowther and Jim Garinger.

As a 35-year Lee County resident, Mankin is familiar with real estate cycles and admits that the current market downturn underscores the importance of experience and honesty. “It’s better to be truthful with clients than to have their listing sit on the market for years. We’re constantly looking at the numbers, trends, sales and listings in our market so that we can offer our clients the best advice,” he says.

Mankin’s full-service team specializes in office and industrial leasing, and includes Julie Mankin (his wife and administrative assistant), and agent Mike Komar. “Many agents don’t want to deal with leasing because it’s so time-consuming, but we love it,” says Mankin. “We provide our clients the same high-quality service on lease listings as we do if they’re buying or selling a large tract of land.”

Because much of Southwest Florida’s industrial market revolves around the construction and retail trades, the demand for smaller flex space has dropped, while the supply has risen. Combined with steady prices, deals are harder to close these days, although Mankin’s team remains busy and productive.

“The affiliation with Colliers International is just a tremendous boon to us because when things get slow in a local market, we still get referrals from other offices. And that really makes a difference.”

Jim Garinger, CCIM
Investment & Multi-Family

Reputation, marketing and administrative support, and global networking opportunities are among the many reasons Jim Garinger, CCIM, affiliated with Colliers Arnold in January 2006. “Since then, I’ve referred several clients to Colliers agents who can help them in other markets,” says Garinger. In return, he’s gained a global client base in addition to those closer to home.

“I’m active with other commercial brokers in town, but because of Colliers Arnold, I can attract buyers from all over the world. And when they want to sell, I can help them do that. That makes my life interesting,” he says.

This year, Garinger has stayed busy working with investors on the purchase of office buildings, industrial facilities and retail centers. “There’s still an awful lot of activity in our market, but investors must look at the revenues generated by the properties themselves rather than the potential for market appreciation. We’ve returned to the fundamentals of investing.”

Garinger says he has always advised his clients to invest in properties with a good revenue stream and upside potential. “It’s important not only to evaluate a property as it is today, but to consider what can it be and how it can be used or improved to yield higher returns down the road.”

As the market continues to shift in Southwest Florida, Garinger says he’s seeing an increase in large national and international companies entering the market. “Colliers Arnold’s affiliation with Colliers International gives me instant credibility,” he says.

However, it’s also the relationships with fellow agents that help him and his clients chart the best investment course. “We all work together to help our customers sell their properties at the highest price and make prudent investment decisions when buying.”

Karen Johnson-Crowther
Retail

When she started her commercial real estate career in Southwest Florida 20 years ago, Karen Johnson-Crowther knew just about everyone in the business and they knew her. That remains the same, although just about everything else about the market has changed.

“When I started out in commercial, our town wasn’t big enough (for agents) to specialize,” recalls Johnson-Crowther. “These days, you have to if you’re going to stay on top of the market.”

Unlike most other types of commercial space, retail sales and leasing activity is booming right now. To accommodate the growing number of new franchises, restaurants and retail concepts coming to Southwest Florida, Johnson-Crowther has assembled a group of specialists focused on retail sales and leasing.

Members of her retail “go-to team” include commercial agents Charlene Greenblatt, Lindsey Schmoyer and Salli Jones-Doyon. “We’re leasing for projects that don’t even exist yet and won’t be completed until 2008 and 2009,” says Johnson-Crowther.

Besides helping local businesses expand into new locations, the team also works to identify suitable sites for retail clients with multiple locations. Fuddruckers and Regis Salon are among the 15 retail tenants with whom Johnson-Crowther works exclusively on site selection. Occasionally, they’ll also lease other types of space, such as offices in a mixed-use, retail/office project.

Currently, the group represents approximately two million sf of space, most of it retail, at a dozen major properties throughout Lee and Collier counties. In addition to Lehigh Town Center and Sugden Park in Naples, Johnson-Crowther is leasing retail space at a “very exciting new project,” Art District at Rapallo, soon to be underway at the corner of Williams Road and U.S. 41 in Estero.

Anchored by a 506-seat performing arts hall, the Art District is planned to include 80,000sf of ground-floor retail shops topped by two stories of residential units. The team is also working with the D’Jamoos Group on Sao Grato, a mixed-use development on Airport Road in Naples. When completed in December 2008, the Brazilian-inspired project will contain 59,000sf of retail space, as well as a residential component.

Johnson-Crowther says she chose to be a principal with Colliers Arnold “at the right time. I’m enjoying every minute of it.”

Jim Tamblyn
CCIM/Office & Land

When a friend of a friend wanted to sell his property in Hawaii, Jim Tamblyn, CCIM, arranged to list it through a Colliers International agent in Honolulu. “One of the benefits of being with Colliers Arnold is that we can assist clients even beyond our own marketing abilities,” says Tamblyn.

Although Tamblyn focuses mainly on office leasing and land sales, “this is a small enough market that everybody does everything.” At the same time, he says, the market is large enough to attract national tenants who want a regional presence.

“As our market matures, it’s important to me to have the national and international connection with affiliated brokers within the Colliers Arnold family,” says Tamblyn, who joined the company almost two years ago. “The access to technology and market research, as well as investors and clients from other domestic and foreign markets, has been very exciting.”

Despite higher lease rates prompted by the rising cost of construction, Tamblyn says the demand for office space remains strong in Southwest Florida. “There’s still tremendous interest in office space in our area, but because there are so many options available to prospective tenants and buyers, they’re taking their time making a decision.”

According to Tamblyn, space is being absorbed and occupied at a healthy pace, with net positive absorption of 138,000sf in the second quarter vs. a negative absorption of 67,000sf in the preceding two quarters. He notes that the 18.4% vacancy rate in Class A office space reflects an oversupply of investor-built projects in a market where demand is greatest for Class B offices.

As the market grows, Tamblyn says the influx of national firms, government agencies and other large office users will boost absorption and drive the demand for additional office space. Recently, an agent from Colliers Arnold’s Tampa office introduced Tamblyn to a real estate representative from a government agency seeking flex space in Lee County. Consequently, both parties are now in negotiations to secure 28,000sf of suitable space.

“We succeed when we help our clients succeed, whether they’re around the corner or half-way around the world.” 

 Colliers Arnold Property Management

To better serve its clients, Colliers Arnold offers comprehensive property management services designed to maintain and enhance property values. It is one of the largest third-party property management firms in the state, with a portfolio of 14.5 million sf of commercial space. This includes approximately 500,000sf in Southwest Florida, most of it office and retail space.

Senior Property Manager Richard King and Property Manager Sharon Smith oversee the numerous financial, physical and human aspects of maintaining and managing a wide array of commercial properties. According to King, proper management not only helps attract and retain tenants, it can also enhance a property’s value.

“Maintenance and management go hand in hand with the brokerage end of the business,” says King. “At Colliers Arnold, I work in the same offices as the brokers, so we’re constantly communicating about our managed properties. That makes it easy for both sides to stay informed about any issues that might need attention.”

Together with an army of selected vendors, Colliers Arnold’s professional property managers provide services that address daily operations, building systems, janitorial, security, after-hours maintenance, building inspection, parking lot maintenance, landscaping, and tenant and vendor relations. The company also provides lease management, contract management, construction management, capital and operating budgets, and lease audits, among other services.

Also, Colliers Arnold Property Management also offers a free building assessment to any existing or prospective management client who requests it. The evaluation, conducted by licensed contractors, is meant to provide a snapshot of a building, exposing significant structural problems, abnormal wear or any other issues that could affect its efficiency and value.

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