A landlord had a 45,000 SF industrial building built in two phases but leased to one tenant. That tenant needed to downsize and wanted to vacate 25,000SF.
We quickly found a tenant that needed the space but was in bankruptcy. The landlord was initially apprehensive about this potential tenant. Further investigation determined that this was a Debtor in Possession and its financials showed more than $600 million in working capital. We also determined that any business obligation incurred as a Debtor in Possession were to be paid before any bankruptcy creditors. The landlord leased the property to this tenant who remained in good standing for many years.
I would like to take this opportunity to thank you for successfully handling the lease of my warehouse property to Adelphia Cable. As you know, we had another prospect aggressively attempting to lease this building. At one point, I was leaning to accept their lease. When I notified you of this, you were very professional in your attitude and did not attempt to scuttle my deal. After [the other firm] outlined their use, I determined that it would conflict with my existing tenant. You were very proficient in moving Adelphia back into the picture. Because of your professionalism in this transaction and your handling of another prospect, who was interested in buying this warehouse, you arranged to sell the other prospect a vacant three-acre tract I had across the street, which was not on the market for sale. I would be very comfortable dealing with you on any future real estate transactions.
R.W. Silc, Hollenbeck & Silc Inc.
A 50 year old local business manufacturing windows and doors had been in the same location for 25 years. Its lease gave both the landlord and the tenant the right to cancel the lease with 90 days’ notice. The property sold and the new owner gave the tenant notice just as the tenant’s busiest season approached.
We successfully found 20,000 SF of vacant manufacturing space at a rent commensurate with what he had been paying and negotiated his lease all within the 90 day window.
I want to thank you for the outstanding job your company did for Molex for previous years and the tax savings provided. If ever Molex is in need of your services in Florida in the future, I will contact you.
Gene Vrane, Manager, State & Federal Taxes, Molex
We recently were given the assignment to look for 10,000 SF of Class A office space for a National Bank’s wealth management office in South Palm Beach County.
We searched the entire area and found several acceptbale locations. We subsequently negotiated a seven year NNN lease with $40 PSF in tenant improvement contribution by the landlord.
We are very pleased with the results we have received from your company these past two years and look forward to future business dealings. When possible, we will recommend your firm to other businesses.
L.E. Hendrick, Property Manager, Crystal Tree
I just took a look at the notice of our revised Tangible Personal Property taxes and was astounded by the reduction you obtained. You saved us 22% on our tax bill. Without your help, our Yoo-Hoo division in Miami would have paid $19,000 more in property taxes. We never would have thought to execute an independent appraisal if you hadn't suggested it. It worked like a charm. I wanted to let you know what a good job you did. I'm looking forward to the next two years working together.
Peter Barbaro, Tax Director, Austin Nichols & Company, Inc.
Your tax reduction consultants were successful in obtaining reductions in our property taxes that are astonishing. Past efforts on our behalf failed with the firms we hired telling us that we were fortunate not to be paying more taxes. You have proven them wrong. Thank you for your fine work.
John P. Rico, World Jai-Alai
We just received a partial refund of our Broward County commercial property tax, reflecting a 51.66% reduction in assessed value. Thank you, Ed, for your fine work, which has resulted in this successful outcome. I'm looking forward to working with you further.
James R. Flanagan, MODCOMP
We are very pleased with how much you were able to save us on our personal property tax bills. We wish we had started your services years ago. For the nine warehouses we have in South Florida, you were able to save us a total of $86,000 in one year. Based on what we paid the year before, that is an average saving of 26% per warehouse. Again, thank you for helping us bring down the bill on our Florida tangible personal property taxes!
Cathie Stahl, Supervisor, Property Tax, Costco
