Commercial Real Estate’s Global Standard for Professional Achievement – CCIM

Lisa DukeAround Town

Another packed house of CRE professionals at Morton’s Steakhouse for the latest installment of the Fort Lauderdale-Broward CCIM Luncheon Speaker Series.  This month Jessi Blakely, Vice President of Strategic Communications for global real estate developer Tavistock Development provided an informative and lively overview of the amazing plans in store for the redevelopment of the iconic Pier 66 property.  We hope to see you next month!

The Latest Rage in Commercial Real Estate – Opportunity Zones

Lisa DukeAround Town

The Treasury finally announced more precise rules for the eagerly anticipated Opportunity Zone program and billions in capital are lining up to invest in real estate development within these zones.  Part of President Trump’s Tax Plan, the program is intended to serve a catalyst for economic development in blighted areas across the country in areas designated Opportunity Zones. Opportunity Zone tax break rules offer flexibility to developers and favorable treatment to investors deferring, and possibly eliminating capital gains, which can be transferred from other investments tax-free.

$100 Billion  Today’s program promises to deliver over $100 billion. Kemp’s Enterprise Zones and Clinton’s Empowerment Zones were responsible for less than $2 billion in small business incentives across 200 zones.

8,700 The number of zones selected by each State’s Governor. These zones cover nearly 12% of the United States.
$9.4 Billion The projected reduction in Federal revenue between 2018 and 2022 according to the Joint Committee on Taxation.

$35 Million  The number of people that live in the opportunity zones. If Secretary Mnuchin’s conservative estimate is right; it will translate to an average of more than $7,300 in investment for each household in these communities.

80%  The increase in sales of development sites in opportunity zones nationwide during the first three quarters of 2018 over last year according to Real Capital Analytics.  Asking prices are being increased by more than 50% according to a recent article in the Wall Street Journal.
2   The number of key benefits to investors. First, they can roll capital gains from an unrelated investment into a zone and defer those capital-gains taxes until the end of 2026.   Those taxes can be reduced by as much as 15% if investors hold on to their zone investments long enough.  Second, taxes on capital gains from investments in the zones can be avoided if the investments are held for at least 10 years.

427   The number of zones in Florida.   The full list of Florida census tracts nominated by Florida Governor Scott can be found HERE.

Lisa Duke participates in the South Florida Business Journal CFO Roundtable Series – South Florida CFO take on many roles

Lisa DukeAround Town

Our CFO Lisa Duke, recently represented Walter Duke + Partners at the South Florida Business Journal CFO Roundtable to discuss timely issues and trends that impact our business.

“CFOs need to constantly touch base with various departments – including IT, human resources, sales or payroll – to stay effective, the panelists said. After that, they need to go back to the C-Suite to share what they’ve learned. That isn’t always a pleasant mission, said Lisa Duke, CFO of Walter Duke and Partners”

Click here for the full article published by the South Florida Business Journal:

https://www.bizjournals.com/southflorida/news/2018/12/27/cfo-roundtable-12-28-2018.html?fbclid=IwAR1J4AC-P-KvVJCHXMAJ6aAMY_m5-EYWrt3HoGekjxCmxwbrl7awhAjGTZY

Behind the Scenes

Lisa DukeAround Town

Salty Jobs is a new educational video series from the Marine Industries Association of South Florida, hosted by MIASF Director of Development Sean Smith, that showcases marine industry career opportunities in the South Florida area. The goal of this series is to introduce a wide range of jobs associated with the marine industry to local schools, workforce agencies, and the public. The next episode will feature Walter Duke +Partners.  Stay tuned!

Walter Duke + Partners is nationally known as a leading provider of boatyard and marina appraisal services to the marine industry.  We maintain key relationships with industry leaders and are actively involved with the Marine Industries of Florida and the Marine Industries Association of South Florida.  Over the last four decades, we’ve provided hundreds of appraisals of marine-related properties and have become an acknowledged expert in this property asset class.

Below are just a few of the marine property types and corresponding services that Walter Duke + Partners provides.

  • Boatyards, Boat Manufacturing, Dockominium, Equity Club Marinas, Individual Slips, Marine Academies, Mega-Yacht Marina and Yard, Mixed Use, Private Wet Slip Marinas, Public Wet Slip Marinas, Resort Marinas, and Super Yacht Marinas.

 

Florida CRE Visits Nashville

Lisa DukeAround Town

Walter attended the Appraisal Institute Annual Conference in Nashville earlier this week and had the opportunity to visit and network with his fellow national appraisers.   More than 550 real estate professionals from around the world attended the opening session of the valuation profession’s most important annual event, hosted by the Appraisal Institute, the nation’s largest professional association of real estate appraisers.

 

Walter B. Duke, III, MAI, CCIM, Nick Pilz, MAI, SRA, AI-GRS, Incoming AI Region X Chairman and  Val K. Chiasson, MAI, SRA, past President of the AI South Florida Chapter. 

 

 

Florida Planners Tour Fort Lauderdale’s First Highway

Lisa DukeAround Town

Our firm president serves on the board of the Marine Industries Association of South Florida and enjoyed a nice Friday evening hosting the Broward County Chapter of the Florida Planners Association to a tour of Fort Lauderdale’s first highway, the New River.  The group discussed the importance of the marine industry to our local economy.  MIASF member and local community partner, WaterTaxi provided the waterway transportation for the tour. 

#MIASF#FLIBS18

Playing with Sharks

Lisa DukeAround Town, Community

Recently our President Walter Duke and his fellow Nova Southeastern University Levan Ambassadors Board joined Halmos College researchers on a shark-tagging trip off Fort Lauderdale.  This daylong trip allowed the ambassadors to help graduate students and researchers catch sharks, measure, sample, tag, and then release them.  The highlight of the day was a 10.5-foot Tiger shark.

The Board went on a “Saving Ocean Life” shark tagging expedition with Derek Burkholder, Ph.D., NSU research scientist, who works with the NSU Guy Harvey Research Institute, NSU’s Save our Seas Shark Research Center, and Broward County Sea Turtle Conservation Program.

Walter B. Duke, III, MAI, CCIM

Walter Duke + Partners is proud to support and promote marine scientific research.

Duke Re-Appointed to Marine Trade Organization Board

Lisa DukeAround Town, Marinas and Boatyards

Duke Re-Appointed to Marine Trade Organization Board

Fort Lauderdale Mayor Dean Trantalis, MIASF CEO Phil Purcel, Starmark International CEO Peggy Nordeen and Walter Duke + Partners CEO Walter B. Duke, III, MAI, CCIM

Fort Lauderdale, FL – The Marine Industries of South Florida (MIASF) announced the re-appointment of Walter B. Duke, III, to the Board of Directors.  “I am honored to be re-elected to a second term by our members.  I look forward to working with the new board to advocate for our vital marine industry and help continue to expand its footprint in the community for the betterment of all”, said Walter B. Duke, III.

MIASF provide access to the largest marine industry network in the Southeast and to boating industry associations in the U.S. and worldwide. With over 400 members within the region, across the state and beyond, MIASF is one of the most active marine advocacy groups in the industry, with a professional staff to serve members needs in the areas of policy, advocacy, communications, and marketing through ownership of the Fort Lauderdale International Boat Show.

Walter Duke + Partners is nationally known as a leading provider of boatyard and marina appraisal services to the marine industry.  We maintain key relationships with industry leaders and are actively involved with the Marine Industries of Florida and the Marine Industries Association of South Florida.  Over the last four decades, we’ve provided hundreds of appraisals of marine-related properties and have become an acknowledged expert in this property asset class.  Widely acknowledged by industry experts, Walter Duke + Partners relies on real-time knowledge of trends in the boat building, recreational boating, and yachting markets.  Fort Lauderdale is the Yachting Capital Center of the World. With constant contact with the players in the global marine industry, Walter Duke + Partners the source for innovative, forward-thinking solutions.  Don’t take a chance, our decades of experience will help you avoid making a critical mistake.

ABOUT MIASF:
The Marine Industries Association of South Florida (MIASF) is the largest marine trade organization in the Southeast United States dedicated to promoting, protecting, and growing the 110,000 middle class jobs in Broward County and 136,000 jobs regionally in marine businesses promoting boating lifestyles from family cruising and fishing to yachts and the goods and services that sustain them, driving the economic output to $8.8 billion in Broward County and $11.5 billion regionally.