The lingering economic downturn has created problems for investors in commercial real estate. Generating a bid now begins with a fundamental analysis, says Ed Kearney, managing director of Kearney Commercial Realty/Sperry Van Ness in West Palm Beach, Fla.

The recent recession and collapse of the housing market in Palm Beach County has made it more difficult to determine Florida commercial property values, says Kearney of Kearney Commercial Realty. Prices that soared during boom times have sunk, pushed down by foreclosures, bankruptcies and rising vacancy rates.

“For too long, investors looked at appreciation when determining the worth of a property,” says Kearney who has worked in the Palm Beach real estate market for 25 years and seen several real estate cycles. “That was too tempting when prices were rising and financing was cheap and easy. That game is over.”

The market should be returning to fundamentals such as property location, condition, occupancy rate, tenant credit quality and the like, says Kearney of Sperry Van Ness.

“Investors now have to think of holding properties – not flipping them in three years – in part because demand is weak and financing is not readily available,” says Ed Kearney. “And we are not likely to see much appreciation for at least the next five years and probably longer.”

Here is a checklist for investors in Palm Beach County, says Kearney of Kearney Commercial Realty:

• Does the property’s location serve a market? Too many properties were built anticipating residential and commercial growth. Existing properties and land should be well situated on or near major roadways.
• What improvements or repairs are needed? Owners and landlords have deferred maintenance in recent years to save money. New owners should find out what’s needed -- before being hit with a repair bill -- and figure that expense into their bids.
• What is the current occupancy rate and how does that compare to one year ago and four years ago? The trend will be revealing and offer insight on what to expect over the next 12 to 24 months.
• Also in factoring the occupancy rate, how many leases are coming due in the next 12 months? Next 24 months? Look at both the number of tenants and square footage.
• What is the credit quality of the tenants? That may be trickier to be determine, but a review of late payments should help determine which tenants are the most likely to default on their leases.
• What would be the return on investment if conditions were static for the next three years? Companies are not hiring or adding space, so assume no new demand.

“Investors should not be bearish about the commercial real estate market, but they should be realistic about the opportunities for immediate gains in revenue and property values,” says Kearney of Sperry Van Ness. “Buyers should take a longer view and see that they have an opportunity to buy properties at sizeable discounts to prices three or four years ago. Someone else’s loss can be their gain.”
 
About Edward Kearney and Sperry Van Ness

Edward Kearney is managing director of Kearney Commercial Realty Inc./Sperry Van Ness with an extensive background in various aspects of commercial real estate including investment analysis, landlord and tenant representation, and property tax abatement. SVN is a leading national brokerage firm that markets commercial real estate properties to an investment and brokerage community of more than 100,000. Kearney welcomes investors, brokers, and others with an interest in the Florida commercial real estate market to contact him today by calling 561-616-6262, or visiting http://www.svnpalmbeach.com for more information about the services he provides.

For more information about Edward Kearney and Kearney Commercial Realty Inc./Sperry Van Ness, please visit http://www.svnpalmbeach.com.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

Falling prices for vacant industrial land means that owner-users can buy parcels at discounted prices and put up buildings at low cost, says Ed Kearney, managing director of Kearney Commercial Realty/Sperry Van Ness in West Palm Beach, Fla.

“Land prices took off in 2006 and 2007, as homebuilders outbid commercial developers for parcels,” says Kearney, who has worked in the Palm Beach market an 25 years. “The industrial market was not immune, as investors went on a land grab. When the housing market collapsed, so did land prices. Now, commercial developers have their pick of good spots.”

Prices had reached a point where industrial land was $10 or more per square foot, but that has dropped dramatically to as little as $2 per foot, said Kearney of Kearney Commercial Realty.

“While developers would logically be hesitant to jump into a market where the vacancy rate is high and climbing,” said Kearney, “those who plan to occupy what they build can get in at prices that are very reasonable. And they will be protected from rent rises when the Palm Beach economy recovers.”

Building costs have also fallen, as crews went idle after both home and commercial construction essentially came to a halt in the Palm Beach market, said Kearney of Sperry Van Ness. Some builders will do work for close to cost just to keep their crews busy.

“With tilt-wall construction becoming commonplace on industrial buildings, the cost of getting into a quality space has come down dramatically and become much easier,” Kearney said. “In dollar terms, properties that had $30 or more per square foot of land value built into their properties can now be constructed for $6 to $8 in land value.”

There are a number of good spots throughout Palm Beach County available for industrial construction, said Kearney of Kearney Commercial Realty. “But to find the right-size space in the best location, you need an experienced broker. Some of the best deals won’t show up in an online database search”

About Edward Kearney and Sperry Van Ness

Edward Kearney is managing director of Kearney Commercial Realty Inc./Sperry Van Ness with an extensive background in various aspects of commercial real estate including investment analysis, landlord and tenant representation, and property tax abatement. SVN is a leading national brokerage firm that markets commercial real estate properties to an investment and brokerage community of more than 100,000. Kearney welcomes investors, brokers, and others with an interest in the Florida commercial real estate market to contact him today by calling 561-616-6262, or visiting http://www.svnpalmbeach.com for more information about the services he provides.

For more information about Edward Kearney and Kearney Commercial Realty Inc./Sperry Van Ness, please visit http://www.svnpalmbeach.com.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

On behalf of the membership of Realtors Commercial Alliance-Palm Beaches, chapter president Ed Kearney has extended a large thank you to president-elect Christina Pearce and Dionna Hall of the Realtors Association of Palm Beach for their efforts to defeat a proposed sales tax ballot initiative.

A large number of people spoke against the proposal at the Palm Beach County Commission meeting on June 8. The commissioners did not listen to the public outcry and voted to include the proposal on the November ballot, said Ed Kearney, managing director of Kearney Commercial Realty/Sperry Van Ness in West Palm Beach, Fla. However, the county attorney found issues with the language of the proposal and it was withdrawn.

“As with other issues at so many other levels of government, the Palm Beach county commissioners did not listen to their constituents,” Kearney said in his monthly message to members. “I urge you to remember that when you vote in November.”

“The efforts of so many who spoke against this proposal highlights the public outrage over government’s madcap spending,” said Kearney. “If we want our local, county, state and federal governments to stop the mindless taxation they continue to saddle us with, we must all become active tax protesters, become better informed about the candidates and get out the vote this November.

“Hopefully, sending a message to our politicians with our votes in the next election will keep issues like the sales tax increase off future ballots,” said Kearney. “Let’s hope that this is the first of many successes that we at the Realtors Commercial Alliance, the Realtors association and the general public will have over the current crop of tax-and-spend politicians.”

Another example of ridiculous spending, Kearney said, was highlighted at the recent visit to the alliance’s breakfast by West Palm Beach mayor Lois Frankel. She is trying to close a $20 million budget gap with spending cuts and layoffs.

“You may have heard the recently announced layoffs within the city,” Kearney told chapter members. “Unfortunately, the mayor and the city have no control over half of that budget gap. That $10 million is the result of state laws endorsed by the police unions that require certain annual pension contributions. Municipal workers, county workers, state workers, police, fireman, teachers and many others are all eligible for government pensions.”

The real question is the one that lawmakers have never asked: Does it make sense for someone to get a government job at 22 years of age, work for 20 years, and then be paid a pension with medical benefits for the next 35 to 40 years?

The politicians have never done the math, Kearney said. It is an unsustainable formula and a recipe for economic calamity that many towns, cities and states are now waking up to. 

Kearney also encouraged alliance members and affiliates to attend our events. The after-hours events are a good way to meet members.

Several weeks ago, The David Associates hosted a great event at the Harvey Building in downtown West Palm Beach. It was well attended with more than 65 RCA members present, Kearney said. Bahama Mama’s, a restaurant opening soon on Clematis Street, catered the event. It served an abundance of terrific island food in an engaging atmosphere enhanced by soft jazz.

The next alliance event is scheduled for July 29 in Delray Beach, Kearney said. The chapter will e-mail an announcement with specific time and location.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

If banks had to recognize just how much their commercial property loans have fallen in value, there would be a lot more properties in foreclosure, says Ed Kearney, managing director of Kearney Commercial Realty/Sperry Van Ness in West Palm Beach, Fla.

But thanks to generous rule changes, they and their borrowers continue to operate as if little has changed since the market began sliding in 2008.

Maybe we should blame the accountants, says Kearney. In 2009, the Financial Accounting Standards Board suspended a requirement that banks to mark their assets to market value when preparing balance sheet reports. Why? The board said there was no market for troubled assets.

That’s not the situation today, says Kearney, a licensed broker who regularly fields calls from investors that are seeking office, retail and industrial properties. They are looking for owners that can no longer make payments or simply want to unload their buildings and land.

“So-called vulture funds have huge amounts of capital and are waiting to pounce on a property that can be bought at a low price,” says Kearney of Kearney Commercial Realty in West Palm Beach. “In any other real estate cycle, those investors would be very busy. But there are few deals to be found.”

Instead, property owners and their lenders continue to cooperate in the hope that property values will recover and bad loans will become good again, says Kearney of Sperry Van Ness. The accounting board has given banks a great deal of discretion when valuating assets in their financial reports. Even if recent sales of comparable properties show a decline in values, the banks can work their way around those figures.

Can the property owners survive? Vacancy rates are rising and that has slowed cash flow at many commercial properties, says Kearney. Owners in Palm Beach and other markets have responded by cutting operating costs and deferring capital improvements. But is that enough?

“At some point in time, there will be a day of reckoning,” says Kearney, who has seen several cycles in his 25 years in the real estate industry. “Some property owners will realize that they can no longer hang on and either take a loss on a sale or hand the keys to the banks.”

The banks don’t want that day to come, says Kearney of Kearney Commercial Realty. Rather than own commercial buildings, they are reworking loan agreements.

“Everyone is playing extend and pretend,” says Kearney, but when the market reality take over, this era will come to an end.”

About Edward Kearney and Sperry Van Ness

Edward Kearney is managing director of Kearney Commercial Realty Inc./Sperry Van Ness with an extensive background in various aspects of commercial real estate including investment analysis, landlord and tenant representation, and property tax abatement. SVN is a leading national brokerage firm that markets commercial real estate properties to an investment and brokerage community of more than 100,000. Kearney welcomes investors, brokers, and others with an interest in the Florida commercial real estate market to contact him today by calling 561-616-6262, or visiting http://www.svnpalmbeach.com for more information about the services he provides.

For more information about Edward Kearney and Kearney Commercial Realty Inc./Sperry Van Ness, please visit http://www.svnpalmbeach.com.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

Sales and leases of commercial property show no signs of improvement in Palm Beach County and the Treasure Coast, but broker Ed Kearney says the worst may be over for owners.

“No one is in a hurry to sell a building or lease more space, says Kearney, managing partner of Kearney Commercial Realty/Sperry Van Ness. “The economy remains too weak for companies to have the confidence to take a big step.”

Property transactions remain slow for a number of reasons, says Kearney, who has worked in the South Florida and Treasure Coast market for more than 25 years. First, values are low relative to 2006 and 2007 levels. Any owner that bought during those years would be certain to take a loss on a sale now.

“Unless the owner must dispose of the property, he or she will try to hang on and wait for values to improve,” says Kearney of Kearney Commercial Realty. “For that reason alone, it’s unlikely we will see a pick up in transactions before 2011.”

Values have dropped in part because home prices plunged over the past three years, dragging down commercial real estate over fears of an economic collapse in Palm Beach County and all of South Florida. Even without the residential effect, the local recession has lowered occupancy rates, reducing rental revenue and therefore the investment value of office, retail and industrial spaces.

“Unfortunately, there are no signs that occupancy rates at commercial properties will improve this year,” says Kearney of Sperry Van Ness. “Companies are not expanding their payrolls.  And businesses will try to hold the line on expenses for as long as possible.”

Those prospects are not a cause for gloom, though, says Kearney of Kearney Commercial Realty. Predictions that commercial real estate would suffer the same foreclosure problems as the residential sector have not come true. Owners and property managers have trimmed expenses in line with revenue to stay on budget and out of bankruptcy.

“Commercial property owners are hanging on for the next upcycle,” said Kearney of Sperry Van Ness. “They are waiting for buyers seeking bargain deals to go away and for true investors to return.”

Realtors say that home prices have stabilized in recent months in Palm Beach County, suggesting that downcycle may be at an end. If that trend continues, office, retail and industrial properties should come out their slump as well, Kearney says.

About Edward Kearney and Sperry Van Ness

Edward Kearney is managing director of Kearney Commercial Realty Inc./Sperry Van Ness with an extensive background in various aspects of commercial real estate including investment analysis, landlord and tenant representation, and property tax abatement. SVN is a leading national brokerage firm that markets commercial real estate properties to an investment and brokerage community of more than 100,000. Kearney welcomes investors, brokers, and others with an interest in the Florida commercial real estate market to contact him today by calling 561-616-6262, or visiting http://www.svnpalmbeach.com for more information about the services he provides.

For more information about Edward Kearney and Kearney Commercial Realty Inc./Sperry Van Ness, please visit http://www.svnpalmbeach.com.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

With the number of troubled commercial properties on the rise, Ed Kearney of Kearney Commercial Real Estate/Sperry Van Ness is offering a full line of services to help creditors fill their office, industrial and retail space. His services help creditors preserve value, lower expenses and prepare properties for sale.

“When creditors take control of a distressed property, they often are faced with an occupancy rate that is low or falling,” says Ed Kearney, managing director of Kearney Commercial Realty. “Creditors need an experienced broker who can deliver value – quickly.”

Kearney Commercial Realty supports creditors by:

• Generating maximum value through new and renewed leases
• Producing timely and accurate reports
• Operating with a quick response time
• Making use of the firm’s broad real estate experience
• Leveraging Ed Kearney’s business experience
• Utilizing Kearney’s extensive knowledge of tax and legal issues
• Networking with affiliated offices throughout Florida

Ed Kearney is well versed in handling complicated situations that require active attention. He understands that properties can quickly lose value as tenants leave and new ones shy away because of the uncertainty of the property’s future.

“I help tenants see that the situation is in fact an opportunity,” says Ed Kearney of Kearney Commercial Realty. “A property going through a transitional period often comes out much better because its finances are much more solid afterward.”

About Edward Kearney and Sperry Van Ness

Edward Kearney is managing director of Kearney Commercial Realty Inc./Sperry Van Ness with an extensive background in various aspects of commercial real estate including investment analysis, landlord and tenant representation, and property tax abatement. SVN is a leading national brokerage firm that markets commercial real estate properties to an investment and brokerage community of more than 100,000. Kearney welcomes investors, brokers, and others with an interest in the Florida commercial real estate market to contact him today by calling 561-616-6262, or visiting http://www.svnpalmbeach.com for more information about the services he provides.

For more information about Edward Kearney and Kearney Commercial Realty Inc./Sperry Van Ness, please visit http://www.svnpalmbeach.com.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

While commercial real estate in Palm Beach County is far from recovery, the market is seeing activity, says Ed Kearney, broker and managing partner of Kearney Commercial Realty/Sperry Van Ness.

“There is a misconception that no one wants to lease or sell in the Palm Beach market,” says Ed Kearney. “In fact, some landlords and property owners have become aggressive in attracting tenants and buyers.”

Finding and negotiating the best deal depends in large part on hiring an experienced real estate broker, says Kearney, who holds a CCIM designation. “The best deals are not necessarily the ones you find by searching the online listings.”

Tenants and buyers seeking Palm Beach commercial real estate are better off engaging a broker who will research the market, present the best opportunities and take the time to see a deal through. Ed Kearney of Kearney Commercial Realty has 18 years of experience in commercial real estate and has worked with hundreds of property owners, sellers, buyers and tenants.

For a firm just beginning a property search or seeking better results, here is a sampling of properties in Palm Beach County offered by Kearney Commercial Realty/Sperry Van Ness:

RETAIL/LEASE

• 2628 Westgate Ave., West Palm Beach: 3,000 square feet

• 2827 Okeechobee Blvd., West Palm Beach: 2,080 square feet

• 2271 Palm Beach Lakes Blvd, West Palm Beach: 1,369 square feet (retail/office)

• 2021 Palm Beach Lakes Blvd., West Palm Beach 7,400 sf on 0.87 acre (single tenant retail/office building)

• 314 E. Atlantic Ave., Delray Beach: 9,578 square feet sub-lease (retail/office)

OFFICE/LEASE

• 302 E. Atlantic Ave., Delray Beach: 6,986 sf

• 708 Commerce Way, Jupiter: 12,000 sf office-warehouse + 2.3 acres

• 1177 Hypoluxo Road, Lantana: 18,000 sf (also for sale)

• 501 S. Flagler Drive, West Palm Beach: 8,591 sf (sub-lease)

• 2271 Palm Beach Lakes Blvd., West Palm Beach: 1,369 sf (retail/office)

• 314 E. Atlantic Ave., Delray Beach: 9,578 sf sub-lease (retail/office)

INDUSTRIAL/LEASE

• 3300 Electronics Way, West Palm Beach: 3.14 acres

• 501 Avenue P, Riviera Beach: 52,800 sf

• 3308 Electronics Way, West Palm Beach, 20,000 sf (sub-lease)

FOR SALE

• 2649 Electronics Way, West Palm Beach: 3,400 sf plus + 1 acre, industrial

• 6782 Belvedere Road, West Palm Beach: 5 acres

• 8470 Belvedere Road, Royal Palm Beach: 10.6 acres, 9,200 sf office and 8,000 sf warehouse

• 7227 7th Place North, Royal Palm Beach: 9.6 acres, site-plan approved for 95,000 sf industrial

• 4118 Lake Worth Road, Lake Worth: 2+ acres, medical office approved

• 2305 Lakeview Ave., Lehigh Acres: 3.34 sf building + 1.09 acres, retail/office

About Edward Kearney and Sperry Van Ness

Edward Kearney is managing director of Kearney Commercial Realty Inc./Sperry Van Ness with an extensive background in various aspects of commercial real estate including investment analysis, landlord and tenant representation, and property tax abatement. SVN is a leading national brokerage firm that markets commercial real estate properties to an investment and brokerage community of more than 100,000. Kearney welcomes investors, brokers, and others with an interest in the Florida commercial real estate market to contact him today by calling 561-616-6262, or visiting http://www.svnpalmbeach.com for more information about the services he provides.

For more information about Edward Kearney and Kearney Commercial Realty Inc./Sperry Van Ness, please visit http://www.svnpalmbeach.com.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

Investors in commercial real estate may find it’s easier to negotiate with the people restructuring loans than the borrowers having trouble paying them.

The opportunity in West Palm Beach and other South Florida markets comes from difficulties in the commercial-mortgage-backed securities (CMBS) market, says Ed Kearney, managing director of Kearney Commercial Realty/Sperry Van Ness. The bonds became popular with investors and bankers seeking to ride the run-up in property values.

“The securities market went south with the economy,” says Ed Kearney of Kearney Commercial Realty. “But not all the loans in each bond have gone bad, only some of them. And that’s where the opportunity lies.”

The troubles – and a potential remedy -- for the CMBS market are spelled out in a recent Wall Street Journal article. It explains that about $14 billion in troubled loans have been restructured, according to Deutsche Bank. The fixes include lowering interest rates and lengthening loan terms.

“Neither of those approaches guarantee success,” says Kearney. “If a property is losing tenants and cannot cover its cash flow, it’s not going to make it.”

The solution may lie with what are called special servicers. According the Journal, these companies represent the owners of securities that have defaulted or could default soon. These players, who often have experience with banking and real estate, try to sort out what can be done to fix the securities. More important, they can help lenders figure out how to shed troubled properties.

One approach: cull the sick properties from the herd, says Kearney of Sperry Van Ness. “That way, the borrowers that have defaulted or are in danger of default do not bring down the whole security.”

It’s a complicated – and temporary – solution, one that can bring buyers an opportunity, Kearney says. After the troubled assets are removed from the loans that made up the security, those properties need to be sold.

“A smart investor working with an experienced broker can identify the true value and opportunity in one of those properties,” Kearney said. “The right approach can benefit everyone.”

About Edward Kearney and Sperry Van Ness

Edward Kearney is managing director of Kearney Commercial Realty Inc./Sperry Van Ness with an extensive background in various aspects of commercial real estate including investment analysis, landlord and tenant representation, and property tax abatement. SVN is a leading national brokerage firm that markets commercial real estate properties to an investment and brokerage community of more than 100,000. Kearney welcomes investors, brokers, and others with an interest in the Florida commercial real estate market to contact him today by calling 561-616-6262, or visiting http://www.svnpalmbeach.com for more information about the services he provides.

For more information about Edward Kearney and Kearney Commercial Realty Inc./Sperry Van Ness, please visit http://www.svnpalmbeach.com.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

A real estate analytical firm says that if the commercial real estate collapses, Palm Beach County would be the site of one of the worst disasters. But two factors could prevent that, says Ed Kearney, managing director of Kearney Commercial Realty/Sperry Van Ness.

A study of 2009 by Real Capital Analytics ranked Palm Beach County as the seventh nationally for distressed commercial real estate. The county had $2.3 billion in troubled commercial properties.

That was then. Now, health care reform is going to boost demand for medical services, says Kearney of Kearney Commercial Realty. Health care is already big business because one in five Palm Beach County residents is 65 years or older. Doctors stay busy treating maladies associated with aging in their office properties, many of them clustered around hospitals.

Physicians will get much busier, if government figures are correct. The U.S. Census Bureau said that nearly 28 percent of the Palm Beach County population under 65 did not have health insurance in 2007.

“With layoffs boosting the county unemployment rate to 12.4 percent in February 2010, it’s likely that a higher number of people lack health insurance,” says Kearney. “Regardless of what you think of the federal plan, as more people get medical coverage, doctors will have more patients. And that will boost demand for medical office space.”

The other sign of hope for commercial real estate is a plateau of downward economic trends in Palm Beach County, says Kearney of Sperry Van Ness. February’s unemployment rate, while high, was less than 12.5 percent in January 2010. And though new home starts may not recover for years, sales of existing homes have leveled off.

“The economy isn’t healthy, it’s just not as sick as it was a year or 18 months ago,” says Kearney, who has 25 years of experience in commercial real estate. “From here on, the key indicators to watch will be corporate and individuals bankruptcies. If those numbers trend down, then the Palm Beach County economy is on the mend.”

Kearney is not alone in his view. Hugh Kelly, a New York University real estate professor, told an audience in West Palm Beach on March 25, 2010, that reports of a commercial real estate apocalypse are overrated.

"I think forecasts of a crash are navigating out of a rear-view mirror of a recession that is over," Kelly was quoted as saying by the Palm Beach Post. "Demand for use of commercial space remains weak and absorption is negative, but we're growing in terms of consumption."

About Edward Kearney and Sperry Van Ness

Edward Kearney is managing director of Kearney Commercial Realty Inc./Sperry Van Ness with an extensive background in various aspects of commercial real estate including investment analysis, landlord and tenant representation, and property tax abatement. SVN is a leading national brokerage firm that markets commercial real estate properties to an investment and brokerage community of more than 100,000. Kearney welcomes investors, brokers, and others with an interest in the Florida commercial real estate market to contact him today by calling 561-616-6262, or visiting http://www.svnpalmbeach.com for more information about the services he provides.

For more information about Edward Kearney and Kearney Commercial Realty Inc./Sperry Van Ness, please visit http://www.svnpalmbeach.com.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

Members of the Palm Beach chapter of Realtors Commercial Alliance should be receiving an e-mail with a video in the campaign to defeat Amendment 4 this November on Florida ballots. This is the first in a number of videos planned for the next few months to bring to everyone’s attention the devastating effect the passage of Amendment 4 would have on business in Palm Beach and around the state.

This initial video focuses how a local initiative only a few years ago in St. Petersburg Beach has negatively affected not only business but that entire community. Its special focus will be on how the passage of this initiative impacted local taxes.

The Boards of Directors of both the Realtors Association of Palm Beach and your Realtors Commercial Alliance strongly urge the defeat of Amendment 4. Its passage would have a severe effect on all businesses in all industries.

While most of us do not have time to speak in front of groups of voters, we can take a few minutes to view each of these videos. Then each of us can take a few more minutes to forward each video to all of our friends, family, clients, prospects and business associates. That is the least each of us should do to help in the effort to defeat this amendment and to preserve our communities and our livelihood.

All of us are experiencing the most difficult business conditions in many years. The question is how to generate some business in this climate. If your phone is not ringing, then perhaps it’s time to make some outgoing calls.

A good way to start the process is to call your clients and prospects and ask them, “Are you familiar with Amendment 4?” Regardless whether they say yes or no, offer to send them the video. Call them back a few days later to get their reaction. Then call them with the next video. In the next six months, you will have spoken to a number of your Palm Beach prospects and clients several times.

Start a conversation when you speak with them. What property owner in Palm Beach County would not like to know the latest about what’s going on in the marketplace? Tell them what sales have taken place, what is happening with financing, what are current rental rates for the type property he or she owns, what is the current vacancy rate.

Ask about his or her plans are for their Palm Beach business. And ask whether the business need a larger or smaller space when the current lease expires and so on.

Will they be ready to do business with you? I can’t say. But I do know two things. First, they will respect you for being concerned about such an important issue as Amendment 4. Second, if you are not making your clients' and prospects' phones ring today, yours will not ring tomorrow.

About Edward Kearney and Sperry Van Ness

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

The unique needs of every commercial real estate investor warrant advice or effective solutions that are tailored to ensure the maximum possible return on their investments.

In structuring transactions in ways that take the needs of each investor’s circumstances into consideration, a qualified professional is necessary. West Palm Beach commercial real estate broker Ed Kearney of Kearney Commercial Realty Inc./Sperry Van Ness says that investors should consider several needs through structured transactions.

Building a solid foundation

For investors in office, retail or storage office buildings, the foundation begins with a thorough assessment of their goals, says Ed Kearney of Kearney Commercial Realty. This should be followed by consultation with a commercial real estate professional that leads to informed decision making.

• Assessing goals. Taking time to understand where you stand, where you want to go, and how you want to get there may seem like a simple concept, says Ed Kearney. However, a surprising number of investors miss opportunities by not looking at the big picture. “It is vital that one takes an assessment of their end goals for success.”

• Seeeking professional consultation. The assistance of a qualified professional real estate broker is essential to the investment decision process, says Kearney of Sperry Van Ness. “Investors need someone who understands their interests and can translate those into opportunities.”

• Making informed decisions. Consulting with a real estate broker who specializes in a commercial real estate services is essential to finding the best deals. A knowledgeable broker understands market trends, rents and players, says Kearney. A broker with a solid reputation and negotiation experience can produce excellent results.”

About Ed Kearney

Ed Kearney is a managing director of Kearney Commercial Realty Inc./ Sperry Van Ness. The West Palm Beach real estate broker specializes in a range of services pertaining to buying, selling, and leasing commercial real estate. Kearney invites those with questions about real estate purchasing options, or other inquiries pertaining to commercial real estate transactions in Florida to visit http://www.svnpalmbeach.com, or call 561-616-6262 to speak to someone directly. 

For more information about Edward Kearney, or investing in commercial real estate in West Palm Beach, please visit http://www.svnpalmbeach.com, or call 561-616-6262.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

Rising vacancy rates have prompted many tenants to switch properties when their lease comes up for renewal. Aggressive landlords have enticed companies out of their current space with free rent, improvements and the opportunity to trade up at the same or lower cost per square foot, says managing partner of Kearney Commercial Realty Inc./Sperry Van Ness.

Those same market pressures can help the tenant that would rather stay put, says Kearney, who represents tenants seeking space in the Palm Beach, South Florida and Treasure Coast markets.

“With attractive deals being dangled before renters, landlords have to work harder to keep their best tenants,” says Kearney, who represents businesses looking for office, retail and industrial space in the West Palm Beach market. “Property owners are being forced to match or beat what their competitors will offer.”

The key to getting a better deal is negotiation, says Kearney of Kearney Commercial Realty. “A tenant won’t know what to ask – or what can be negotiated – without the help of an experienced broker.”

Kearney recommends engaging a broker for these five reasons:

• A broker can shop around for good deals on behalf of the tenant and use them as leverage with the current landlord. “You must show you are seriously considering leaving to gain any concessions,” says Kearney of Sperry Van Ness.

• A broker can research current rents. “If you are in a Class A building and your broker finds out that new leases are being signed in the same building at lower rents, that broker can ask for the same deal,” says Kearney, who has worked in the Palm Beach market for 25 years.

• A broker can negotiate for improvements for such as new paint and carpeting. “If you have been in the same space for more than five years, your floors and walls probably need to be updated. In this market, a broker can get a brand-new look for your space,” says Kearney, a licensed broker.

• A broker may even secure several months of free rent. “A tenant can ask, but only a broker can use his negotiating experience to extract that type of monetary concession,” says Kearney.

• A broker is free to the tenant. “The best part is that the landlord pays the costs of your broker to negotiate against himself,” says Kearney, who works strictly on commission.

About Edward Kearney and Sperry Van Ness

Edward Kearney is managing director of Kearney Commercial Realty Inc./Sperry Van Ness with an extensive background in various aspects of commercial real estate including investment analysis, landlord and tenant representation, and property tax abatement. SVN is a leading national brokerage firm that markets commercial real estate properties to an investment and brokerage community of more than 100,000. Kearney welcomes investors, brokers, and others with an interest in the Florida commercial real estate market to contact him today by calling 561-616-6262, or visiting http://www.svnpalmbeach.com for more information about the services he provides.

For more information about Edward Kearney and Kearney Commercial Realty Inc./Sperry Van Ness, please visit http://www.svnpalmbeach.com.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

Retirees with a substantial nest egg and knowledge of the commercial real estate market have long invested in Florida markets such as West Palm Beach. In the past, most of those properties generated revenue from rents and had appreciation potential.

“That all changed with the recession, said Ed Kearney of Kearney Commercial Realty Inc./Sperry Van Ness. “The economic downturn drove tenants out of shopping centers and warehouses, and forced down values of developed and undeveloped properties.”

The investment potential still exists, largely because property prices are much lower, Ed Kearney said. But finding a property that won’t depreciate further is much more difficult. And getting financing has become very tough, Kearney said.

“Given these conditions, an experienced broker can provide services that can help minimize mistakes,” said Kearney, who holds the prestigious CCIM designation in addition to his real estate broker’s license. “Investors should be extra-cautious where they put their money now given the unsteadiness of the economy.”

Ed Kearney of Kearney Commercial Realty Inc./Sperry Van Ness suggests that retirees consider a number of factors before investing:

• • What is the best market? The recession has greatly affected Palm Beach County, driving up the unemployment rate in February 2010 to 12 percent and the number of personal bankruptcies to 429. There are few, if any signs of improvement.

• • Know your business plan.  This goes beyond the type of property in West Palm Beach that you are considering. Conduct a feasibility study for your business and a market study for the property you are considering. A broker can help you with the latter by analyzing different markets. And that business plan will be important when seeking bank financing.
• • Know your limits. You may have financial and other restrictions as to how much you can invest that need to be addressed upfront. You may also have a time limit on how long you can or want to hold a property in West Palm Beach. And you may have a personal preference as to how many years you want to spend managing an investment property. A broker can help you map out your one-, three- and five-year plans.
• • Seek professional assistance. The commercial real estate market in West Palm Beach is in a state of flux. A qualified broker can help investors finding prime locations and identifying competitors. Seeking out the services of a professional before taking on such an important project is vital to success.

For more information about buying, selling, or leasing commercial real estate in West Palm Beach, please visit http://www.svnpalmbeach.com, or contact the offices of Edward Kearney of Kearney Commercial Realty/ Sperry Van Ness at 561-616-6262.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

The collapse of the commercial real estate market has been forecast so many times in the media that anything but an implosion would be a disappointment to some investors, says Edward Kearney, managing partner of Kearney Commercial Realty Inc./Sperry Van Ness. But that thinking ignores the cyclical nature of real estate.

“No one knows whether the market in West Palm Beach will get worse or creep up this year,” says Kearney, who has experienced several real estate boom-and-bust periods. “Investors that wait and wait could make the same mistakes that buyers did when the market was booming.”

The West Palm Beach market topped out in 2007. The industrial vacancy rate was then 4.7 percent, for example, leading many buyers and sellers to believe that a weakening of the economy would not cause much harm to the West Palm Beach market.

Today, the picture is much different; warehouse space goes begging and construction projects are at a standstill.

“The same thing happened to office and retail properties,” said Ed Kearney of Kearney Commercial Realty. “Space was at a premium and sellers were dictating prices. Today, even local governments are trying to unload their office space.”

Buyers, sellers and their advisers had expected prices to keep going up, Kearney said. They ignored history, just like speculators in the residential market convinced themselves that home prices could never fall.

“Anyone who lived through the late 1980s and the downturn in 1990 knew in 2006 that the run-up would one day end,” said Kearney. “While no one expected such a sharp downturn, veterans of the industry like me knew that price increases had become unsustainable.”

An understanding of how the Palm Beach real estate market works will help buyers in 2010, said Kearney of Sperry Van Ness. Investors that expect commercial real estate prices to keep dropping will be disappointed when the downward trend ends and they miss out on the best buying opportunities.

“Make no mistake, high unemployment and a beaten-down residential market are depressing commercial property,” Kearney said. “We will not see a sharp rebound in rents or prices. But the odds that values will continue to fall are growing smaller and smaller.”

About Edward Kearney and Sperry Van Ness

Edward Kearney is managing director of Kearney Commercial Realty Inc./Sperry Van Ness with an extensive background in various aspects of commercial real estate including investment analysis, landlord and tenant representation, and property tax abatement. SVN is a leading national brokerage firm that markets commercial real estate properties to an investment and brokerage community of more than 100,000. Kearney welcomes investors, brokers, and others with an interest in the Florida commercial real estate market to contact him today by calling 561-616-6262, or visiting http://www.svnpalmbeach.com for more information about the services he provides.

For more information about Edward Kearney and Kearney Commercial Realty Inc./Sperry Van Ness, please visit http://www.svnpalmbeach.com.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

For more than 40 years, when home starts have fallen off, employment has gone downhill soon after. And when those two components of the economy decline, so does commercial real estate.

When will they all be back? Watch the figures on home starts, says Ed Kearney, managing director of Kearney Commercial Realty Inc./Sperry Van Ness.

Housing and jobs are closely tied in Palm Beach County and all of South Florida, where about one in five jobs is related to construction. When home sales started plunging in 2007, the unemployment rate in Palm Beach County shot up. The jobless rate soared to 11.5 percent in December 2009 from 3.5 percent in March 2007.

The housing market went downhill about a year before the job market. Sales of existing single-family homes in the Palm Beach metro market dropping 19 percent between 2006 and 2007. They stayed flat in 2008, according to the Florida Association of Realtors.

“When the housing market collapsed, the job market tumbled with it,” says Ed Kearney of Kearney Commercial Realty Inc. “Carpenters, plumbers and others were put of work. Restaurants, stores and nightclubs that served those workers were severly pinched. Some closed their doors.”

The rapid drop rocked some shopping centers. In Palm Beach County, the West Palm Beach mall closed in early 2010. The owner of an upscale lifestyle center, Downtown at the Gardens, faced foreclosure in 2009 from a lender that had bought the mortgage from the previous lender for about 35 cents on the dollar, according to a published report.

At the same time, office vacancy rates across Palm Beach County rose as mortgage companies and other providers of professional services to construction and other industries scaled back or shuttered.

When will the downcycle end? Watch the trend in housing starts, says Ed Kearney of Sperry Van Ness. A consistent rise will be the first sign of a recovery that will extend into commercial real estate in Palm Beach County.

The good news is that sales of existing homes bounced back 25 percent in 2009 from 2008 levels as prices kept falling and buyers closed in time to collect a federal stimulus incentive. Nationwide, construction of single-family homes rose 1.5 percent in January 2010 from December 2009 levels, the Commerce Department said.

Homebuilding requires confidence on the part of developers, contractors, lenders and buyers that a residence or a community is financially feasible. Once contractors go back to work, they will hire workers.

Those employees will soon have money to spend. As that currency flows through the local economy, businesses will start up or begin to re-hire, revving up prospects for retailers. That, in turn, will generate revenue for businesses that provide goods and services to those companies.

“But don't expect the commercial real estate market to bounce back immediately,” Kearney says. “It could take a year to 18 months for an improved economy to spur retail sales and generate demand for office and industrial space.”

About Edward Kearney and Sperry Van Ness

Edward Kearney is managing director of Kearney Commercial Realty Inc./Sperry Van Ness with an extensive background in various aspects of commercial real estate including investment analysis, landlord and tenant representation, and property tax abatement. SVN is a leading national brokerage firm that markets commercial real estate properties to an investment and brokerage community of more than 100,000. Kearney welcomes investors, brokers, and others with an interest in the Florida commercial real estate market to contact him today by calling 561-616-6262, or visiting http://www.svnpalmbeach.com for more information about the services he provides.

For more information about Edward Kearney and Kearney Commercial Realty Inc./Sperry Van Ness, please visit http://www.svnpalmbeach.com.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

Even as South Florida works its way through the worst commercial real estate downturn in 30 years, the market still remains attractive to businesses looking to relocate or grow within the region, says Ed Kearney, managing director of Kearney Commercial Realty/Sperry Van Ness.

Unlike towns in the Northeast and Midwest that are shrinking in population, each city in Palm Beach County has something unique about it that makes it attractive to existing and potential residents.

“West Palm Beach, with its waterfront, cultural and entertainment offerings make it a draw for both individuals and businesses,” says Kearney of Kearney Commercial Realty. “In choosing the city as a place to invest in commercial real estate, potential buyers should know that the political climate in the Palm Beach area still favors growth and business leaders expect an economic recovery.”

In the past few years, the commercial real estate market has undergone a downturn that has threatened the future of some cities. Those changes have ranged from a loss of an industrial base to declines in the sales of residential properties that have weakened the retail market.

Losses in the Palm Beach market have been restricted largely to projects that came too late in the real estate cycle, such as condominium construction and conversion, says Kearney of Sperry Van Ness. With an investor-driven surge in residential construction, there was also an accompanying overbuilding of retail and industrial space. The resulting glut of homes, shopping centers and warehouses presents a challenge, but also creates opportunities for real estate investors.

Ed Kearney of Kearney Commercial Realty Inc. says the following key points should be considered when assessing the best a city has to offer in terms of real estate investment opportunities:

•    What are the expectations for future population growth? South Florida is expected to grow more slowly than in previous decades, Kearney says, but a population decline is not forecast.
•    Are there major building or community development projects planned for the area? Palm Beach County had looked built-out, but with land speculation gone bust, there are new opportunities to buy and build.
•    Is the transportation infrastructure solid? I-95 continues to be widened, and major east-west thoroughfares are being improved throughout Palm Beach County.
•    What is local government’s commitment to attracting businesses? The downturn has reduced the ability of Palm Beach County to offer incentives, but leaders remain committed to luring companies that offer quality, good-paying jobs.

About Ed Kearney

Edward Kearney is a managing director for Kearney Commercial Realty Inc./Sperry Van Ness. He has extensive experience as a licensed broker in the state of Florida. Kearney specializes in the purchase, sale, and lease of office, retail and industrial properties in Palm Beach County, and other services for buyers, sellers, landlords, and tenants. Kearney invites those with Florida commercial realty needs to contact him by visiting http://www.svnpalmbeach.com, or call 561-616-6262.

For more information about investing in commercial real estate properties in West Palm Beach, please visit http://www.svnpalmbeach.com, or call 561-616-6262.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

The weak economy has forced some small business owners to close their doors. Shopping centers are experiencing higher vacancy rates, creating money-saving opportunities for entrepreneurs thinking about opening a store, says Ed Kearney, managing director of Kearney Commercial Realty/Sperry Van Ness in West Palm Beach, Fla.

Strengths, Weaknesses, Opportunities, Threats (SWOT)

The time-tested SWOT analysis helps small businesses and retail entrepreneurs assess how setbacks in the commercial real estate market can create stepping stones to success. One lesson: In every weakness there lies a strength, and with every threat there lies an opportunity.

This logic can be applied to the current commercial real estate market in South Florida. Vacant storefronts have left many shopping centers struggling to cover operating costs and make mortgage payments; for those seeking to lease retail space, there are more opportunities to find quality locations at more affordable rates.

“Some property managers and owners will cut a deal so that their shopping center stays busy,” said Ed Kearney. “However, a business owner won’t find that willing landlord on his own.”

A commercial real estate broker is in the best position to negotiate reduced rent, says Kearney of Kearney Commercial Realty. A broker can also secure tenant improvements, better signage and other benefits.

“The best time to get in is when the market is at its worst,” said Ed Kearney of Sperry Van Ness. “No one knows when the Palm Beach County economy will get better. Retailers that act now face little competition for space. If business owners jump on the bandwagon after conditions improve, they will find that retail landlords will have more offers and be less willing to offer inducements.”

About Ed Kearney

Edward Kearney is the managing director of Kearney Commercial Realty Inc./ Sperry Van Ness. SVN is a leading brokerage firm that markets commercial real estate properties to an investment and brokerage community of more than 100,000.

Kearney welcomes investors, brokers, and others with an interest in the Florida commercial real estate market to contact him today by calling 561-616-6262, or visiting http://www.svnpalmbeach.com for more information about the services he provides.

For more information about buying, selling, or leasing commercial real estate in West Palm Beach, please visit http://www.svnpalmbeach.com or call (561) 616-6262.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

Property sales in the fourth quarter of 2009 gave no evidence that commercial real estate owners should expect a positive return on investment, says Ed Kearney, managing partner of Kearney Commercial Real Estate, Inc./Sperry Van Ness. Given how much commercial properties have fallen in value in the past two years, it was no surprise that there were few big sales – or profits – during those months.

An exclusive analysis of public records by the commercial real estate brokerage shows that there were were only seven sales of developed commercial property of $5 million or more during the fourth quarter of 2009. The smallest was for $6.86 million.

“The real problem is that only one of them produced a profit,” said Ed Kearney. “And most of them were money-losers for their owners.”

The most notable deal was Bank of America's sales of a failed condominium conversion. The bank's predecessor has loaned $25 million against the property in August 2005 and foreclosed when the investment went bust along with the housing market. The bank transferred title on the unsold units to a new owner for $6.86 million, about one-fourth of the loan amount.

The biggest deal of the fourth quarter in Palm Beach County was a deed in lieu of foreclosure which involved commercial space in Arvida Park of Commerce. It changed hands for $41.75 million, down slightly from its sale for $43.34 million three years earlier.

“Commercial properties are being battered by falling vacancy rates and downward pressure on rents,” said Ed Kearney of Kearney Commercial Real Estate. “It's all but impossible for sellers to argue that their property is worth more in this environment.”

Despite a weak market, one developer in Boca Raton did well. It constructed warehouse space in Boca Raton on land it bought for $2 million in March 2006 and sold the developed property for $18.8 million to investors. Others were not as fortunate; two owners sold their commercial properties for the same prices they paid almost a decade earlier.

“While these deals may discourage some potential sellers from entering the market, they should encourage investors to jump in,” Ed Kearney said. “The secret is having a broker who has studied the market. He can identify which property owners are ready to sell and the prices they are willing to accept.”

About Edward Kearney and Sperry Van Ness

Edward Kearney is managing director of Kearney Commercial Realty Inc./Sperry Van Ness with an extensive background in various aspects of commercial real estate including investment analysis, landlord and tenant representation, and property tax abatement. SVN is a leading national brokerage firm that markets commercial real estate properties to an investment and brokerage community of more than 100,000. Kearney welcomes investors, brokers, and others with an interest in the Florida commercial real estate market to contact him today by calling 561-616-6262, or visiting http://www.svnpalmbeach.com for more information about the services he provides.

For more information about Edward Kearney and Kearney Commercial Realty Inc./Sperry Van Ness, please visit http://www.svnpalmbeach.com.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

West Palm Beach commercial real estate broker Ed Kearney discusses possible implications of a recent suspension by the FHA on commercial real estate market.

The Federal Housing Administration suspended its 90-day flip rule, effective Feb. 1, 2010. Although the FHA deals with residential mortgages, the change could impact transactions involving commercial real estate, says West Palm Beach-based commercial real estate broker Ed Kearney of Kearney Commercial Group/ Sperry Van Ness.

Suspending the 90-Day, no-flip rule

The FHA’s anti-flip regulation was enacted to protect homebuyers from predatory practices. The 90-day period restricted the availability of FHA loans by making re-sales that occurred within that time period ineligible for FHA-insured mortgages.

Since the restriction was imposed, foreclosures have increased and inventories have risen of homes that could be sold but would not meet FHA-financing criteria. The recent suspension of the rule is expected to stimulate sales of the affected properties.

What could this change mean for commercial real estate in Palm Beach County? Commercial property such as offices and shopping centers are influenced by neighboring residential areas. Homes with curb appeal draw prospective homeowners who want to work and shop nearby, says Ed Kearney, managing partner of Kearney Commercial Group. Office and retail developers and investors look at home occupancy figures and other demographics when deciding where to build or invest.

A suspension of the 90-day rule could boost the number of homes being sold in a Palm Beach County community. The resulting closings could boost nearby businesses as new homeowners improve their properties and spend money in areas near their new neighborhoods, says Ed Kearney.

A rise in occupancy levels could also support nearby office properties as homeowners choose to work near where they live. That increase would support office rents and prices.

As with any rule change, the effect may not be seen immediately, but combined with a hoped-for upswing in the Palm Beach County economy, 2010 may be a better year for investors, sellers and landlords.

About Edward Kearney and Sperry Van Ness

Edward Kearney is managing director of Kearney Commercial Realty Inc./Sperry Van Ness with an extensive background in various aspects of commercial real estate including investment analysis, landlord and tenant representation, and property tax abatement. SVN is a leading national brokerage firm that markets commercial real estate properties to an investment and brokerage community of more than 100,000. Kearney welcomes investors, brokers, and others with an interest in the Florida commercial real estate market to contact him today by calling 561-616-6262, or visiting http://www.svnpalmbeach.com for more information about the services he provides.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness

When Coastal Wholesale Florists needed to lease industrial space in West Palm Beach in a hurry, Ed Kearney responded with service and speed.

“They needed to act fast and wanted to be open for business in less than two months,” said Kearney, managing partner of Kearney Commercial Real Estate, Inc./Sperry Van Ness. “I listened to their requirements and had a lease signed in less a month after our first meeting.”

Liz and Kevin Donaldson, co-owners of Coastal Wholesale Florist in Melbourne, found Kearney through an Internet search for West Palm Beach brokers. They saw an opportunity to break into the West Palm Beach market and wanted to seize on that with a well-placed location that allowed quick and easy move-in.

The Donaldsons and Ed Kearney met for lunch on Oct. 31 and Kearney took them on a tour of warehouse properties he had researched. Before the day was over, the company had signed a tenant representation contract with Kearney Commercial Real Estate.

One of the industrial properties held the most promise and Kearney pursued whether it could fit both the time and space needs for the Donaldsons.

“We subsequently met with cooler installers, electricians and the landlord regarding the property they wanted,” Kearney said. “The Donaldsons were given confidence that their use would be approved without significant expenses for improvements such as a new sprinkler system.”

The terms were negotiated the week of Thanksgiving, and the company signed a lease for 7,680 square feet the day after the holiday.

“We appreciate Ed Kearney’s quick response and knowledge of local market conditions,” said company owners Liz and Kevin Donaldson. “His selection of appropriate properties to tour and sage advice during lease negotiations were most helpful. As a result, we found the right property and had a favorable lease signed in less than 30 days.”

“You can be sure that we will rely upon Ed Kearney’s commercial real estate expertise for our future space requirements in Palm Beach County,” they said.

About Edward Kearney and Sperry Van Ness

Edward Kearney is managing director of Kearney Commercial Realty Inc./Sperry Van Ness with an extensive background in various aspects of commercial real estate including investment analysis, landlord and tenant representation, and property tax abatement. SVN is a leading national brokerage firm that markets commercial real estate properties to an investment and brokerage community of more than 100,000. Kearney welcomes investors, brokers, and others with an interest in the Florida commercial real estate market to contact him today by calling 561-616-6262, or visiting http://www.svnpalmbeach.com for more information about the services he provides.

Edward A. Kearney, CCIM
Managing Director
Kearney Commercial Realty Inc./ Sperry Van Ness