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NOVEMBER 2014 SFBWMAG.COM 7.95 Kimberly Gramm Tech Runway is taking off Marc Brotman Board Certified in Civil Trial Law Martindale Hubbell s Highest Rating Acknowledged as a SuperLawyer 32 years of trial experience YOU WOULDN T DO YOUR OWN HEART SURGERY YOU SHOULDN T HANDLE YOUR OWN INJURY CLAIM EITHER Call US at 561.417.5656 137 West Royal Palm Road Boca Raton FL 33432 (561) 417-5656 Marc ATTORNEYS We have paid millions of dollars to referring attorneys. Call me at (561) 417-5656. The hiring of an attorney is an important decision that should not be based solely upon advertising. Before you decide ask us to send you free written information about our qualifications and experience. Relentlessly pursue the client s goal but never rest in the glory. 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NAI Miami offers discerning investors conceirge level service to safeguard assets with a local perspective and attention to detail regardless of where you are. 1 305 938 4000 November 2014 5 See the nation s top listing a 139 Million House SPACES 12 TABLE OF CONTENTS Meet South Florida s web pioneers TECHNOLOGY 24 30 34 16 FAU s Tech Runway is ready to take off as an entrepreneurial hub COVER STORY They believed the internet would change things TECH HUB Tiger Direct simplifies home automation RETAIL How Rocco Mangel went from busboy to a restaurant empire RESTAURANTS 38 42 The growing challenge of retaining and recruiting talent HR Miracle Mile gets a makeover ECONOMIC DEVELOMENT 46 48 56 REAL ESTATE 60 LAW Retail space starts to get tight 58 BUSINESS SCENE The first meeting of the SFBW advisory board 72 PRIVATE EQUITY 74 FAMILY BIZ Comvest Partners Michael Falk tells what s hot Ron Book s inside view of Tallahassee CEO CONNECT The murky legal status surrounding gay marriage Steve Garber on business at the speed of happiness The Fort Lauderdale International Boat Show makes economic waves BOATING 52 54 62 INSIDE THE INCUBATOR Meet the leader of StartUp-Miami 76 CULTURE AND CASH A quick guide to Art Basel 66 BEHIND THE MIC Jim Fried on networking outside investing and education 80 SALES Greta Schulz on how to find the right sales people Meet the Williamson family AUTOMOTIVE 68 NEW SOUTH FLORIDA 13th Floor Investment helps fuel our urban transformation 6 November 2014 Looking for off-market deveLopment opportunities godart fLorida has the experience and network of contacts to deliver hard-to-find opportunities. Call for a free consultation. making deaLs HAPPEN 954.522.8577 Tom LETTER FROM THE PUBLISHER Your insurance agent needs to be more than just a nice guy... handling South Florida executives. RobeRt M. FRiedMan CLU Experienced Objective Relationship Oriented over 30 years experience Bob Friedman has Life insurance for business & Personal needs Executive Benefits Group Insurance Estate Protection Charitable Giving Family Protection Securities and advisory services offered through Royal Alliance Associates Inc. Member FINRA SIPC and a registered investment advisor. Fixed and or Traditional Insurance Services offered through RMF Financial Inc. which is not affiliated with Royal Alliance or registered as a broker-dealer or investment advisor. One of the missions of SFBW is to highlight new and emerging companies in the technology field. While I love real estate tourism and retail our region has long needed to diversify from these industries. That s why I m pleased not only with the cover story on Tech Runway in this issue but our report on the South Publisher Kevin Gale Florida Technology Alliance s Web Turns 20 event. Florida Atlantic University was helped with 1 million in state funding to help launch Tech Runway which should be a great accelerator for new businesses. Let s hope the Legislature recognizes this by following up with further support. The array of businesses in the initial Tech Runway group is broad ranging from better lighting systems and high heels to an international shipping concept and a social media app that pays charities when you move around. If even a fraction of the companies that come through Tech Runway and the region s other accelerators and incubators take off it will go a long way to creating new jobs. The Web Turns 20 panel s past accomplishment go a long way towards dispelling the notion that the region can t exhibit leadership in technology. We had not only the largest web hosting company here but the world s most cutting-edge internet on-ramp and the pioneering effort in the world of fantasy sports. What s even more impressive is how entrepreneurs Manny Medina Mike Levy Scott Adams and Colin Campbell are involved in new exciting ventures. Adams actually has an office in the Tech Runway space. A final note SFBW has its first major awards program this November the Apogee Awards at the Museum of Art in Fort Lauderdale. We will have 24 honorees from all levels of the C-Suite Chairman CEO COO President Chief Financial Officer Chief Information Officer Chief Marketing Officer and top HR executive. If you are reading this column before Nov. 6 you can get tickets online at apogeeawards-tickets. Tech Scene Can Thrive 561.988.8599 954.510.7448 bob 5421 University Drive Suite 101 Coral Springs FL 33067 Corrections The names for Smoke Inn owner Abe Dababneh s name and Havana Cellars cigars were incorrectly spelled in the October issue. The correct website for Sindicato Cigars is sindicatocigars. com. Kevin Gale 8 November 2014 Is Debt wrecking your employees productivity Let Consolidated Credit Guide Your Employees to Financial Wellness On-Site Workshops & Seminars Online Financial Tools Budget & Debt Counseling Free Financial Publications For more information 1-800-294-1792 PUBLISHER AND EDITOR-IN-CHIEF Kevin Gale kgale ASSOCIATE PUBLISHER Sally Nicholas snicholas ASSOCIATE EDITORS Ivette Figueroa ifigueroa ASSOCIATE EDITOR Richard Shellene rshellene Creative CREATIVE DIRECTOR ART DIRECTORS Melanie Smit Alexander Hernandez Frank Papandrea Alisha Riddle Writers CONTRIBUTING WRITERS Leslie Kraft Burke Chris Fleck Jim Fried Steve Garber Linda Janasz Darcie Lunsford Becky Randel Greta Schultz Gail Scott Julie Shattock Photographers Downtown Photo Fort Lauderdale Scott Lunsford Larry Wood Marketing MARKETING COORDINATOR Natalie Merin natalie jhorowitz llee CHRISTINE REDMOND credmond GAIL SCOTT gscott JILL HOROWITZ LISA LEE Market Directors JAMES CONSTANTINE JIM NORTON jconstantine jnorton PETER EVANS pevans TANISHAL HARRIS tharris CHAIRMAN Gary Press gpress GENERAL MANAGER Danielle Tarrant dtarrant Editorial Advisory Board Bob Birdsong OK Generators President Rick Case Rick Case Automotive Group Owner Abe Dababneh Smoke Inn Owner Monroe Gang Atlantic Partners CEO Gerald Greenspoon Greenspoon Marder Co-Managing Director Scot Hunter The Emerald Companies Managing Director Michael Keeby Brown & Brown of Florida Executive Vice President Jeremy Larkin NAI Miami President Alan Levan BBX Capital Chairman and CEO Gerry Litrento Bank United Senior Executive Vice President Steven Mariano SunCoast Holdings Chairman and CEO Angel Medina Gibraltar Private Bank & Trust President Neil Merin Merin Hunter Codman Chairman Ed Pozzuoli Tripp Scott President Chris Roberts Lexus of Kendall President Scott Scherr Ultimate Software President Ron Shuffield EWM President Terry Stiles Stiles Corp. Chairman and CEO Thomas te Riele TD Bank South Florida Market President Jordan Zimmerman Zimmerman Partners Advertising Chairman and CEO SFBW Magazine 3511 W. COMMERCIAL BLVD. SUITE 200 FORT LAUDERDALE FLORIDA 33309 954.377.9470 FAX 954.617.9418 WWW.SFBWMAG.COM 2014 SFBW magazine is published by Lifestyle Media Group all rights reserved. SFBW is a monthly advertising magazine. All contents are protected by copyright and may not be reproduced without written consent from the publisher. The advertiser is solely responsible for ad content and holds publisher harmless from any error. 10 November 2014 You Deserve It DAOUD S FINE JEWELRY IS NOT AN AUTHORIZED ZENITH DEALER Florida s Oldest and Highest Rated Jeweler Daoud s (across from the Galleria Mall) 954.565.2734 2473 EAST SUNRISE BOULEVARD FORT LAUDERDALE FL 33304-3126 954.WATCHES November 2014 11 12 November 2014 SPACES Le Palais Royal Being proclaimed the most expensive U.S. residential listing at 139 million The more than 60 000-squarefoot French-inspired Beaux Arts mansion is along the Atlantic Ocean in Hillsboro Beach. The home s name is similar to Domaine National Du Palais-Royal a so-called village in the city by the Louvre in Paris. It is along a wooded stretch of State Road A1A known as Millionaires Mile although there are undoubtedly some billionaire residents. The grand entry hall has a 2 million marble staircase. November 2014 13 SPACES The driveway top includes a 26-foot fountain. The kitchen bottom has mahogony cabinets with gold leaf accents. The home was designed and inspired by Joseph Leone and in-house architect Denio Madera Design. William P.D. Pierce of Coldwell Banker Residential Real Estate who is called the agency s top individual broker in South Florida is marketing the palace. The home is scheduled for completion in 2015. This grand palace will be a landmark that rivals Europe s greatest palaces. A true masterpiece it is adorned with custom detailing exclusive to its design and incomparable finishes Pierce says. The South Florida Le Palais Royal boasts 11 bedrooms and 17 bathrooms that sit on over four acres and 465 feet of beachfront. It also has frontage on the Intracoastal Waterway with 492 feet of dock that can accommodate up to a 185foot mega yacht. A 13-foot 22-carat gold-leaf gate and 26-foot entrance fountain transports visitors into a world of opulence and luxury. The fountain is one of six exterior water features that adorn the property. There s a 30-car underground garage. The entryway features double day and night custom-designed doors one of bronze-encased glass and the other of solid mahogany inlayed with 22-carat gold leafing. The doors open beneath a 2 million marble staircase with steel-iron railing and gold leaf which took craftsmen more than two years to construct. The grand entrance and lobby 14 November 2014 SPACES open up to the expansive Le Salon with panoramic views of the Atlantic Ocean. The palace has what s billed as the first-ever IMAX Theater contracted for private use featuring a 50-foot by 27-foot screen and seating for 18 with a bar and IMAX lounge. Other features include three master bedroom suites and one presidential master suite each with a Jacuzzi overlooking the ocean or Intracoastal Waterway. The kitchen or La Cuisine du chef will feature a La Cornue Grand Palais custom range and custom cabinetry made of solid mahogany accentuated with 22-carat gold leafing. The family room will feature a 1 300-gallon Living Color aquarium enclosed within custom cabinetry that will accommodate a high definition 3D television. Living Color is a South Florida company that has a TV show called Fish Tank Kings. La Palais Royal features a 4 500-square-foot infinity edge pool with a 12-foot cascading waterfall double loop LED-lit waterslide fire pit and swim-up bar for outdoor entertaining. The pool was designed with state-of-the-art technology including an automated temperature gauge sensor and triple sanitation system which utilizes saline chlorine and ultraviolet light. An outdoor hot tub is positioned above a waterfall and there is also a plunge pool off the master suite on the second floor of the exterior terrace. The courtyard also features an outdoor summer kitchen with a pizza oven outdoor lounge for entertaining and an entrance to indoor spa massage rooms. Worried about someone coming in Fear not. Security guard accommodations have been built on the property as well as an air-conditioned kennel for on-site guard dogs. A portico frames the 4 500-square-foot infinity edge pool top. A raised platform in the master bedroom bottom further enhances the view of the Atlantic Ocean. November 2014 15 By Kevin Gale Photos By DowntownPhoto Fort Lauderdale Companies participating in the FAU Tech Runway Jan Bednar of BedABox Tech Runway CEO Kimberly Gramm Tim Clark of Modulux Lighting Dr. David Wolf of Interact Team Bill Cummings of Modulux Lighting Ilene Greenberg of Design Comfort Shoes Andy Hill of Stand4 and Ian Sauer of Stand4 16 November 2014 November 2014 17 COVER STORY The Tech Runway team Dennis Crudele Kimberly Gramm Victor Nappe Maggie Kelly Korinna LewisWelch and Bob Nelson mentoring program developed by the Massachusetts Institute of Technology is landing in South Florida. Amid South Florida s growing entrepreneurial scene Florida Atlantic University s 27 000-square-foot Tech Runway is unique by providing each of the startups a boot camp team mentoring collaborative workspace 25 000 in funding interns and shared services. FAU is paying MIT to get training on utilizing its Venture Mentoring System and reaching out to the region s business community to be mentors. FAU Tech Runway takes the best from a research university and the best practices from an accelerator puts them together and makes a unique experience for entrepreneurs says Kimberly Gramm director of FAU s Adams Center for Entrepreneurship FAU Tech Runway takes the best from a research university and the best practices from an accelerator puts them together and makes a unique experience for entrepreneurs and CEO of Tech Runway. She was instrumental in developing the Tech Runway concept ranging from a conceptual white paper down to the light bulb logo with a jet inside. Tech Runway s name was inspired from being adjacent to Boca Raton Executive Airport which is along I-95 on the west edge of the campus. Tech Runway which received 1 million in funding from the legislature and 3 million from the university adds to an increasingly vibrant startup and entrepreneurial ecosystem in South Florida. Among the programs are eMerge Americas The Launch Pad at the University of Miami Startup Miami Venture Hive the Broward College Incubator and the FAU Research Park which is just across the road from Tech Runway. The success of these programs is vital to diversify the region s economy which has repeated cycles of booms and busts because of an overreliance on real estate and tourism. Five to start Tech Runway will start with five businesses but is designed to handle 40 when it is fully funded. Gramm says Tech Runway will seek 3 million in legislative funding in the upcoming year to fully build out the program. Anthony Barbar chairman of the board of trustees and Dennis Crudele a VP who served as interim president played key roles in helping convince legislators to initially fund the program Gramm says. While the program is based at the university application is open to entrepreneurs throughout the region. Tech Runway will have a symbiotic relationship with the university such as commercializing research or using marketing students expertise to help support a tech venture. Need for mentoring Gramm says the university found through its annual business plan competition that mentoring was highest priority for fledgling entrepreneurs. FAU s business plan competition has turned into a major event with more than 250 teams a year. Each Tech Runway startup will get a team of about five coaches who will help the entrepreneurs set mutual goals Gramm says. The university will keep the mentors motives pure by prohibiting them from having a financial stake in the startups. Some of those mentors will be MIT graduates because about 20 MIT alumni talked to Gramm after she spoke about Tech Runway at the eMerge Americas conference in Miami Beach earlier this year. The MIT Enterprise Forum of South Florida is already active in encouraging entrepreneurship in the region. Gramm has a team of three to handle the administration of the program so the mentors don t have to worry about that. 18 November 2014 creatingENTREPRENEURS. launchingBUSINESSES. Terminal Map (E-map) GATE 01 IDEATION The creative process of forming a new concept. An idea is the basic element of thought and innovation. The E-map illustrates a framework of the Florida Atlantic University and surrounding region s entrepreneur ecosystem. The seven gateways are access points to resources available to entrepreneurs at the university and its regional partners and supporters. Each gateway is defined and provides questions and steps an entrepreneur must ask and complete to move successfully through the process to launch their venture. GATE 02 INVENTION RESEARCH Creative work to increase knowledge. A way of gathering data harnessing curiosity or developing a unique or novel device method composition or process. This gateway has the potential to change everything. Terminal Map (E-map) creating ENTREPRENEURS. launching BUSINESSES. GATE 04 BUSINESS PLANNING GATE 03 SEEKING INPUT Ask for help and advice from smart people try to assess resources needed to make your idea a reality. GATE 03 SEEKING INPUT GATE 05 GET TO WORK GATE 04 BUSINESS PLANNING Build a playbook. Understand the language of business to make money and create real wealth. GATE 02 INVENTION RESEARCH GATE 06 RAISING FUNDS GATE 05 GET TO WORK Game day It s time to take your playbook and make it happen This gateway is your go to market strategy. GATE 01 IDEATION GATE 07 GROWTH GATE 06 RAISING FUNDS A real business needs funding to launch and scale. Searching for treasure can have many options. This gateway is your access to cash. GATE 07 GROWTH (Ready for Launch ) START TAKE OFF N Sales Initial Funding Management Knowhow Graduate Tech Runway Emerging companies grow during their vulnerable startup period. Now it s time to incubate in one of the regional incubators or scale to become a growth stage company. GATEWAYS TO L AUNC H November 2014 19 COVER STORY Success will be measured by how much money the companies raise the number of jobs created and the number of interns hired. Tech Runway will publicize and promote the companies such as via blogs and help them make connections to angel round financing. Florida in general struggles against other states in early stage funding. Silicon Valley New England New York and Los Angeles hold the top four venture funding slots in the PWC MoneyTree year-end report which helps explain how their economies can stay vibrant by creating high-paying jobs even though those areas are regarded as having higher taxes than Florida. Florida is lumped in with the rest of the Southeastern U.S. at seventh on the list. The goal of Tech Runway is to create 120 to 200 new high wage jobs a year Gramm says. This would also provide rippling effects of business for attorneys CPAs and other professionals. FAU s new front door One of the obstacles to recruiting new companies to South Florida is business leaders fear that education here isn t as good as other areas Gramm says echoing a viewpoint many business leaders have voiced. Tech Runway will help fight that notion and literally be at FAU s new front door when a new I-95 exit is completed on Spanish River Boulevard. Tech Runway is housed in a former Aluma Glass manufacturing plant which has a large warehouse space that was filled with workers building it out recently. The high ceilings will provide plenty of flexibility whether it s for machinery or the installation of mezzanine flooring. The building also will have 10 spaces for satellite offices of businesses that aren t part of the entering class. For example some of the space is already being used by Scott Adams the namesake of FAU s entrepreneurship center. Adam gained fame for growing Hiway Technologies into the world s largest web hosting company. (Adams also was part of the South Florida Technology Alliance s 20th Anniversary of the Web event which is featured in this issue of SFBW.) Gramm says other entrepreneurs can support Tech Runway by recommending the program to promising startups being a mentor or being members of a Founders Circle that would help fund a planned 10 million Tech Runway Fund. The business community can also help lobby members of the legislature to make sure it keeps going. Gramm says she is ready for the challenges to keep Tech Runway aloft. She says We have to validate our concept just like a startup to keep going. Tech Runway CEO Kimberly Gramm has plans for expanding operations 20 November 2014 Tech Runway Profiles BedaBox BedaBox uses a dashboard application to help people all over the world buy anything they want (from a shirt to a boat) in the U.S. with any currency even BitCoin and receive it at their location. BedaBox also serves expats by giving them access to their mail by confidential document scanning and package forwarding. Design Comfort Shoes Design Comfort Shoes wants to revolutionize the women s shoe market with a patent-pending high-heel shoe redesign. One submarket is women who have bunions more than 50 percent of all women according to the American Academy of Orthopedic Surgeons. The company has completed all R&D prototype development sample creation and testing. A spring launch is planned. Interact Team Interact Team LLC provides training education and consulting services to the long-term care industry using the Interventions to Reduce Acute Care Transfers (INTERACT) quality improvement program as well as other quality improvement programs relevant to the needs of organizations seeking training and consultation. Modulux Lighting Modulux has patent-pending technology to offer more light with less power. The company has engineered filed patents and commercialized LiteBlox a versatile and scalable portfolio of LED lighting fixtures called luminaires. The commercial market is a main target. Stand4 Stand4 is a mobile app that automatically records your movement and for every 2 000 steps makes an advertiser supported donation to the cause you stand for. Everything that comes as a result of your stand is showcased and compiled on your profile page giving you the ability to see the lives you ve touched problems you ve helped solve and overall impact you ve made. Non-profits get a higher level of engagement and funding. November 2014 21 At Greenspoon Marder it s all about YOU. We are committed to providing sophisticated and distinctive client service through our cross-disciplinary Client Team approach. Our goal is to understand the challenges that YOU face and build collaborative relationships and craft creative solutions designed and executed with long-term strategic goals in mind. Since our inception in 1981 Greenspoon Marder is a full-service business law firm with the experience needed to understand your challenges and develop the strategies that YOU need. We serve Fortune 500 middle market public and private companies start-ups emerging businesses and entrepreneurs across Florida and the United States. 888.491.1120 22 Aventura Boca Raton Fort Lauderdale Miami Naples Orlando Port St. Lucie Tampa West Palm Beach November 2014 Clients are worth more than their net worth. For more information on our Private Banking services call us at 1-877-779-2265 BankUnited N.A. Member FDIC November 2014 23 TECHNOLOGY They did things that were groundbreaking. Chris Fleck Past Success & Big Ideas Now The region s web pioneers tell how they became successful and their latest endeavors BY KEVIN GALE If you think South Florida isn t cutting edge when it comes to technology think again. IBM invented the first widely adopted personal computer in Boca Raton 30 years ago and other globally pioneering efforts were recently spotlighted at a South Florida Technology Alliance event entitled The Web Just Turned 20 Learn From the Internet Pioneers. 24 November 2014 TECHNOLOGY South Florida s web pioneers Manny Medina Mike Levy Scott Adams and Colin Campbell. Newcomers to the area and non-technology enthusiasts may not realize the accomplishments of the panel s entrepreneurs Pioneering the world of online fantasy sports Creating the world s largest web hosting company Building the world s most modern network access point (NAP) Launching three public companies that pioneered webhosting and Internet service providing They built new services and built services that didn t exist before. They did things that were groundbreaking said the event moderator SFTA board member Chris Fleck who is also vice president of mobility and alliances for Citrix Mobility as well as a SFBW columnist. Fleck said the panel discussion was happening as the region was getting growing national recognition such as a May story in Fortune that was headlined The next big tech hub is in ... Miami Dan Kane who was an audience member is getting attention for his company Modernizing Medicine which puts medical records into the cloud and in September was listed by Forbes as No. 2 of the 10 companies by Forbes that s revolutionizing entrepreneurship. The No. 1 spot was Tesla. Fleck said the region suffers more from a PR problem than anything else and he s promoting the use of the hashtag worknplayinfla and soflatech on Twitter. Medina s homework lesson Panelist Manny Medina incorporated the real estate company Terremark in 1980 long before it morphed into an information technology services company. He says he first became fascinated with the Internet in the mid-1990s when he was helping his kids with homework. He thought I don t need to track through Encyclopedia Britannica The veteran commercial developer didn t have a technology background but says I started doing what I knew how to do building buildings for the Internet. Medina gave some insight into the birth of the Network Access Point (NAP) of the Americas the block-sized building topped by radar domes in November 2014 25 TECHNOLOGY The Panelists Manny Medina Past Founder of Miami s Terremark which built the NAP of the Americas and became one of the world s top cloud providers. It was acquired by Verizon for 1.4 billion. Present Chairman of Miami s Medina Capital and creator of the annual eMerge Americas tech event. Mike Levy Past Founder of Sportsline in Fort Lauderdale the pioneer of online sports that went public on NASDAQ before it was bought by CBS. Present Leads which advises early state companies on business development marketing sales and capital structure. (See story for details on three companies it is advising.) Scott Adams Past Co-Founder of Hiway Technologies of Boca Raton once the world s largest web hosting company. Present CEO of startup GroupCare Technologies a Boca Raton company that will use tracking and notification technology to help those with autism and Alzheimer s. He is also chairman of MobileHelp which has medical alert systems that can utilize wireless voice and GPS technology to provide more reliable notifications and tracking. Colin Campbell Past Built three publicly held Internet companies in Canada Tucows Interactive Internet Direct Canada and Present Founder chairman and CEO of .CLUB a new Internet domain provider. Chairman and co-founder of a collaborative space for entrepreneurs. I started doing what I knew how to do building buildings for the Internet. Manny Medina downtown Miami. The telecom industry decided it needed an exchange point and he thought the opportunity to build a hub was the modern equivalent of building Miami International Airport. Getting the deal wasn t an easy slam dunk since 20 plus companies showed interest along with economic leaders in Georgia and Texas. Medina s team went beyond the idea of just providing a place for cables to be tied together by offering servers routers and services. The NAP has gone from 35 telecom carriers to 180 and handles about 95 percent of the traffic Europe Latin America and North America. Terremark went public in April 2000 not too long before the stock market bubble burst. Medina looked at panelist Mike Levy who had an earlier stock offering and said He road the crest I road the precipice. However Levy s Sportsline actually became a big selling point Medina says. Customers would say Why should I put my infrastructure in Miami You have hurricanes and refugees. Medina s response was You heard of fantasy football. What happens at 4 05 on Sundays You know where that traffic is coming from It s the NAP of the Americas. That s as mission critical as it gets. Levy joked I should have gotten stock options. After selling Terremark to Verizon Medina came back into the spotlight by announcing eMerge Americas a multiday conference that is designed to make South Florida the technology capital of the Americas. Medina said it was founded out of his frustration of finding employees in South Florida when he had the NAP here. Terremark had more employees in Brazil and Texas. Medina s team studied the technology ecosystem in not only places like Silicon Valley but Austin London and Santiago. eMerge is modeled somewhat on South by Southwest which has enhanced Austin s reputation as a tech capital. The major pillars needed in the region are education incubators and accelerators funding and an employment base. Medina said the region s reputation is slowly changing but he still hears complaints about employers ability to find software developers in the region. One possible solution is reversing decades of brain drain that has seen graduates of local universities leave elsewhere to climb the tech ladder. He s seeing promising signs as he tours the country saying It s amazing the number of people with high positions that want to come back. Levy capitalizes on the Internet craze Panelist Mike Levy got into technology early in his career with an electrical engineering degree from Georgia Tech. He worked for Racal Datacom which once had a sprawling plant in Sunrise. Levy left Racal to found Lexicon which did the first hand-held language terminals and then credit card authorization terminals. He sold Lexicon in 1993 and 26 November 2014 WALK WITH US TOWARD A SAFER TOMORROW. Learn more at WWW.LAURENSKIDS.ORG Those were crazy days back then. Mike Levy then was inspired when he saw AOL go public. That was also the era of Prodigy and CompuServe. He saw the millions of subscribers and thought he could do a vertical. In January 1995 he talked with Jim Barksdale at Netscape who thought there could be room for a second company behind ESPN which was doing a sports service. Netscape played a key role in developing the technology infrastructure behind Sportsline. Levy got a meeting with Kleiner Perkins Caufield & Byers the famed Silicon Valley VC firm but was disappointed when Kleiner member Kevin Compton who was on the board with Citrix wasn t there. The only guy there was a biotech guy but he turned out to be a huge sports fan who now owns the Golden State Warriors Levy said referring to majority owner Joseph Lacob. Kleiner Perkins gave Sportsline an initial 5 million in 1995. Then it participated in an 11 million equity round in May 1996 that also included Reuters NewMedia TCI New York Life and Alliance Technology according to a history of the company at Sportsline enlisted Joe Namath Mike Schmidt and Bob Costas to help introduce the company. Sportsline raised 32 million in a 1997 IPO and 150 million in a secondary offering a year later. Levy said an investment bank pointed to bond deals done by Amazon and C-Net and said it would only November 2014 27 Providing memorable vacations and so much more. BBX Capital formerly known as BankAtlantic Bancorp is involved in the acquisition ownership and management of and joint ventures and investments in real estate and real estate development projects as well as investments and management of middle market operating businesses. In addition BBX Capital and it s holding company BFC Financial Corporation have a 46% and 54% indirect ownership interest in Bluegreen Corporation. Bluegreen manages markets and sells the Bluegreen Vacation Club a flexible points-based deeded vacation ownership plan with more than 180 000 owners over 60 owned or managed resorts and access to more than 4 000 resorts worldwide. At first I didn t have the vision to be big. I just wanted to make a thousand a month... Scott Adams take a couple of days to do the paperwork and raise another 150 million which turned out to be a convertible bond offering. Those were crazy days back then Levy said. In 1997 news accounts indicated that CBS signed a five-year deal with Sportsline in exchange for 22 percent of its equity. In 2004 Viacom the parent of CBS bought the last of Sportsline that it didn t already own. After Sportsline Levy went on to found Open Sports but it didn t fare as well in the increasingly competitive online sports field and shut down in 2011. Levy current leads which advises early state companies on business development marketing sales and capital structure. MaxxPoint s website shows three clients a Santa Clara California company that has figured out how to combine up to 16 video streams such as multiple camera angles for sporting events. Comcast will be testing it. GR8 Group ( a Miami company that provides VIP experiences at major sporting and cultural events such as The Masters and the Sundance Film Festival. a Boca Raton company that helps businesses build their online presence. Hiway to wealth Panelist Scott Adams s father worked for IBM and gave him a PC Jr. because of his interest in software. In 1985 he transferred to FAU and initially said his tech career didn t look too promising. My Fortran programs barely worked he said. He eventually became a partner in an accounting software firm but struggled earning enough to support his growing family. His partners bought him out for 4 000. Then in 1995 Adams and William Nesbitt got into the web hosting business when they decided a restaurant company needed a website. They installed an ISDN line to host it. The website looked like crap Adams said and they realized they should be in the web hosting business instead. Nesbitt was a technical whiz that figured out how to overcome server limitations. They undercut the competition by charging 25 to host a website instead of 50. A year or two later they were the largest web hosting company in the world and then merged with the second largest. At first I didn t have the vision to be big. I just wanted to make a thousand a month Adams said. 401 E. Las Olas Blvd Ste 800 Fort Lauderdale FL 33301 954-940-4000 NYSE BBX COLLECT SMARTER. Ditch the blanket approach. Each of your clients is different. Customize your collection approach to each client and watch recovery rates soar. With our automated system you will save money without losing your hard-earned client relationships. For an in-depth ounts receivable analysis acc sick. please contact Scott Kra scott.krasick COLLECT SMARTER. (305) 582-8258 Find more info at 28 November 2014 7 28 14 6 54 AM Collect Smater 1 4 page Scott Krasick.indd 1 We would let anybody in ... even a Canadian. Colin Campbell Hiway Technologies started the IPO process in 1998 but instead it was sold to Verio for 351 million. Adams subsequently started a business accelerator but he shut it down after the concept didn t take off. Then an entrepreneur came to him with a GPS device that could track objects. The question was what Adams was an investor in another company that had an electrical engineer as a president and they thought it would make sense to develop a personal emergency response system a field made famous by Life Alert s I ve fallen and I can t get up campaign. MobileHelp utilizes the cellular network so it s not just limited to being in a home environment. MobileHelp has 120 employees in the FAU Research Park and ranked 111th in the Inc 500 eighth in Florida. Adams is currently chairman but said his last working day was Jan. 1. He is now CEO of a newer venture Groupcare Technologies which is looking at tracking for those with Alzheimer s and autism plus a rapid response November 2014 29 Time to trade the corner office for your own little corner of the world A Transworld business advisor can get you there. Every day Transworld Business Advisors connects quality top-paying acquirers with business owners ready to sell and move on to the next stage in their careers. As the world leader in business sales franchising and mergers and acquisitions Transworld has access to a huge database of individual domestic and immigrating buyers and strategic corporations looking for the right business opportunity. And Transworld has the expertise to ensure any business sale goes smoothly. So whether you re ready to sell your business or buy an existing business or franchise contact a Transworld Business Advisor for a free consultation today. 800.205.7605 Campbell reasoned at the time. That prompted Medina to quip to the audience We would let anybody in ... even a Canadian. Hostopia was sold to Deluxe Corp. in 2008 for 128 million. Campbell is currently an investor in an array of businesses including the Little Flower Montessori School in Wilton Manors for luxury homes the Sharkfins taxi-advertising network in Toronto and GeeksForLess which has operations in the Ukraine and the Philippines. He recently launched Fort Lauderdale-based .CLUB taking advantage of the broader array of Internet domain name extensions these days he says. His strategy also coincides with a cultural shift that makes groups online an attractive proposition. .CLUB has already sold 10 000 names to customers including sports teams performing artists and businesses with memberships or loyalty programs among the customers. The website recently had a splash display with rapper 50 Cent having a launch party in New York and sayings he s part of dah .CLUB. Campbell says he has traveled to more than 30 countries as part of the launch program. Campbell also has launched a collaborative space where entrepreneurs can share experiences and ideas. Campbell expects one of the next big changes will be fiber optic service in every home as part of broadband services. Netflix is just the beginning of what we ll see in serving up content. His forecast Everything shakes up all over again. system when they run off or get lost he said. In August Adams moved into the Tech Runway space which is the subject of the cover story in this edition of SFBW. boom and bust Panelist Colin Campbell graduated from the University of Toronto in 1992 and worked on the family farm for four months before launching a bulletin board service sort of a dial-up service that people used to connect before the Internet. Campbell said it became the second largest in Canada in a year but he and his brother shut it down after seeing the Mosaic browser that launched public use of the web. The move was prophetic since the Internet was a death knell for bulletin boards. The duo then became the largest Internet service provider in Canada and also had a company that had a large collection of downloadable Winsock software. (Winsock is a tech spec that defines how Windows network software should access network services.) Campbell said they lived the high life in their 20s but nearly became penniless during the bust when the stock market tanked. Campbell said his brother and he looked at Hiway Technologies web hosting system which he called the best in the world. They used that as a model for launching Hostopia which offered wholesale hosting that was resold by telecoms. He brought its operations to Miami after being turned down by MAE East and MAE West two major Internet exchange points. Let s try NAP of the Americas there s lots of space here 30 November 2014 A Global Force in the Information Technology Arena We are a global company with 100 Years of combined experience placing IT professionals ALL while experiencing 28 quarters of consecutive growth. Our services of staff augmentation contract to hire direct hire and retained search will help you attain your business goals. Ask us about our Resource Concierge Program 6001 Broken Sound Pky. Suite 506 Boca Raton FL 33487 561-912-9363 main office info Meet Some of Our clients Blue Cross Blue Shield WebMD Guardian Citigroup TD Ameritrade Morgan Stanley Avon Weight Watchers November 2014 31 TECH HUB 20 years ago Meet the South Florida tech luminaries who helped build the web BY CHRIS FLECK Al Gore couldn t make it but a few of the real pioneers that helped build the web shared wisdom and war stories at last month s South Florida Technology Alliance event at Citrix System s headquarters. A common theme was a belief that the Internet would change things. They all took the initiative to build businesses to leverage the change. These local tech luminaries include Manny Medina who founded leading cloud provider Terremark which was sold to Verizon for 1.4 billion. Manny was fast to point out the support he had from the industry as well as local Chris Fleck businesses. Currently Manny is managing Medina Capital which actively invests in cloud and cyber security companies. He is also the force behind eMerge Americas the South Florida Tech event that drew 6 000 attendees this year and exepects 10 000 next year. Mike Levy was one of those local companies that helped Terremark in its early days. He started Sportsline to target the sports market on the web before established media jumped in. Mike highlighted the value of networking and how gaining an endorsement from Joe Namath opened new doors. Today Mike is an active investor and adviser to web companies like GLIP which provides small business collaboration tools. (The service is being offered for free on Speaker Scott Adams not the cartoonist but the one with his name on the FAU business building used 4 000 to start a business building websites and grew it into the world s largest web hosting business. Hiway Technologies was sold to Verio for 320 million. Scott continues to build businesses in South Florida. One of them Mobile Help was listed on the Inc. 500 fastest-growing companies list. Many who follow tech in the area may know of Manny Mike or Scott but you may not know Colin Campbell. Colin started many Internet companies including the largest ISP in Canada Tucows and web hosting giant Hostopia. Colin highlighted the importance of recognizing paradigm shifts and taking action. The Internet came alive 20 years ago when Mozilla made the web browsing visual. Colin jumped on that shift then and today he is acting on anther paradigm shift in Internet names. ICANN the authority that regulates Internet naming is opening new domains including .CLUB for which Colin bought the rights to and is now selling to organizations worldwide. It seems that South Florida does have some bragging rights in tech history the IBM PC birthplace the first Smartphone called the Simon and tech luminaries that not only helped build the web but are still innovation leaders. I wonder how many other tech stars we have hidden among us. Chris Fleck is on the board of the South Florida Technology Alliance and vice president of mobility systems and alliances for Citrix Systems (NASDAQ CTXS) a Fort Lauderdale company that provides secure remote access to data and applications. 32 November 2014 RETAIL The Tiger Direct home automation display includes lighting home theater and security systems. Home automation done easy TigerDirect comes up with a strategy to help make systems easier to select and assemble By Julie Shattock Home automation can be a confusing subject for shoppers with complex systems often poorly displayed and explained. TigerDirect of Miami is changing that. The company s Aventura store has been completely remodeled into a concept store of the future with a learning center for DIY customers and professional installers. It s a prototype that could be expanded to other stores if it catches on company officials say. The new smart home display is eye catching with large beams like you would find in a home angling down from the ceiling. It has the latest in home automation with color-coded displays that guide customers to the right shelf. The display targets not only consumers but audio-visual installers who can see security home entertainment and home automation with 10 vignettes showing various concepts. Many of these systems are also popular in businesses. Our new concept store brings your home to life and life to your home simple as that says Terry Perrin president of TigerDirect. During a demonstration in the store company officials showed how a home can have different theme settings such as what should come on in the morning and what lights should go off and on at bedtime. There are also settings when you are away for the day or an extended trip. Tablets and smart phones can be used as control devices. There s no more I m half way down the turnpike and I have to make a U turn and turn my lights off one of the demonstrators said during the presentation. The Vera Z-Wave Home and Business Security Control System allows users to receive alerts when motion is sensed or when temperatures spike. 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The back store of the wall has a wall of TV and home theater products again organized to make it easier for shoppers to make a decision. TigerDirect also sells laptops desktops tablets networking and other consumer electronics products. Brands include Honeywell IC RealTime Insteon TCP Swann Samsung Belkin and Night Owl. Displays show scenarios for various systems to automate life at home. Tech Bash to add B2B symposium Marlins Park will have a different crowd of fans on Nov. 7 as TigerDirect has its third annual Tech Bash. The free event showing the latest trends in technology is expected to draw more than 20 000 participants. They will have an opportunity to connect with leading technology manufacturers and see new products and solutions. Kevin O Leary co-host of ABC s hit TV show Shark Tank will keynote the company s TigerDirect Innovation IT Conference and Expo presented by Lenovo an exclusive B2B sector symposium that will run from 8 a.m. to 6 p.m. before the evening consumer show which runs from 7 p.m. to 11 p.m. I am proud to be a part of TigerDirect s first-ever business innovation event and hope that my keynote along with the lineup of exciting sessions inspires attendees to rethink their approach to technology said O Leary. The cloud digital payment ecosystems and other tech trends are turning small and medium businesses on their heads and this event will help them keep pace with technological advances and provide the edge they need to stay ahead of the curve. Richard Leeds CEO of Systemax said the consumer event will be more kid friendly with the minimum age being lowered to 13 and the event being held on a Friday night. This year products will also be sold on site. For the B2B symposium top IT companies and subject matter experts will also lead a series of breakout sessions. These sessions will include the following topics Cloud Computing- How it s transforming IT and what this means for your business Find out how you can leverage the cloud to centralize your data and increase your business s efficiency. Data is everywhere - find out how to secure your data. Learn how to secure data from an increasing amount of IT threats against your business. Bring Your Own Device To Work Discover how best practices for small and large businesses. How employees bringing their own devices to work will transform the workplace and why businesses of varying sizes should implement the practice. Borderless ne tw orking and wireless and Fa s t Free registration for the evening consumer show and daytime B2B conference Evening event attend B2B event innovation register secure. Smartphones tablets and other mobile computing devices continue to grow in popularity among businesses for their powerful on-the-go capabilities. Understand how to integrate and manage these devices to become a more agile business. 36 November 2014 November 2014 37 38 November 2014 PROFILE ROCCO BY BECKY RANDEL PHOTOS BY DOWNTOWNPHOTO FORT LAUDERDALE THE RISE OF Rocco Mangel of Rocco s Tacos has a life that s as close to the American Restaurant Dream as one can imagine. Almost twenty years ago Rocco moved to Florida to wait tables. With only 200 in his pocket he says he was on a dead end road in New York City and never could have imagined he would one day run a mini-empire of successful restaurants. November 2014 39 PROFILE After moving to Florida to try his hand at the family business Rocco quickly got a job as a busboy at Big City Tavern. It was the busiest restaurant I could find he says and he began to work his way up the chain. As one of many serendipitous turns in Rocco s life that restaurant ended up being the first one he bought (with his partners Big Time Restaurant Group). Rocco spent the next ten years working in a variety of restaurants and nightclubs including Gigi s in Boca New York Prime Monkey Club Liquid Lounge and Flow. During this time he established an impeccable network of restaurant connections which have been at the source of much of his success. His first foray into running the show was at a restaurant called Mo Quilla (More Tequila) where he quickly worked his way up from host to General Manager and learned all about Mexican fare. He soon realized he wanted to open a restaurant of his own. Call it good luck or irony but when Rocco met Bill Watson (part owner of Big Time Restaurant Group) and explained his desire to open his own place Watson coincidentally had the same idea. By the next week I was in Mexico with Todd (Herbst) my partner says Rocco and we then went on to open the first Rocco s Tacos and Tequila Bar on Clematis Street in West Palm. The partnership between a well-established restaurant group and a rowdy busboy nightclub connoisseur general manager was an interesting dynamic Rocco says and one that worked. We had a co-mingling of ideas...and we opened a very successful Rocco Mangel is getting ready to open a Rocco s Taco in Brooklyn. I never call anybody a customer I call them a guest. restaurant Rocco says. In a matter of seven years the team went on to open Rocco s Tacos in Boca Raton Fort Lauderdale Palm Beach Gardens Orlando and now Brooklyn. It s been like WOW Rocco says of their success. Rocco s gregarious personality (he is famous for standing on the bar and giving away tequila) as well as his welcoming nature I never call anybody a customer I call them a guest are a big part of what has made Rocco s Taco s so unique. Celebrity fans like Kelly Ripa (who spoke on her show about the restaurant for quite some time) and Rande Gerber and George Clooney (who Rocco says are the most humble probably nicest people I ve met ) don t hurt either. But it s Rocco s passion for authentic Mexican culture (especially tequila) that sets him apart from the competition. He often takes trips to procure items for the restaurants himself I ve bought doors off of houses Mexican street signs...I really bring Mexico here. Rocco s gratitude for his success has created a strong desire to give back. In the past few years Rocco has become fully dedicated to raising money for breast cancer alongside the Susan G. Komen Foundation (Rocco s girlfriend s mother whom he is very close to is now fighting her second battle with the disease). Rocco started small utilizing his existing skills to raise funds from his customers. I bought a pair of patent leather big pink shoes I got on the bar and I got on the microphone and I said hey instead of me giving you tequila for free why don t you give me fifty cents or fifty dollars of five hundred dollars to fight cancer he explains of his first efforts. That initial outreach led to an October promotion entitled Taco Tequila and TATAs Tuesdays whereby all Rocco s Tacos restaurants donate a percentage of proceeds to Breast Cancer every single Tuesday in October. These fundraising efforts have been extremely successful - last year they raised 32 000 and his goal this year is 40 000. Rocco is very aware of what those numbers can mean saying Usually about 100 will cover the cost of a mammogram so if you think about last year and I raised 32k that s 3 200 mammograms All of which take place in his own backyard as he points out 75% of the money I give to Komen stays in the community I raise it in. He continues I m saving lives literally that s what it does and it makes a difference. Aside from his generous giving Rocco has discovered his softer side in another major way - through his toddler daughter 40 November 2014 Charlie he smiles and says I ve done a lot of stuff in my life I ve drunk tequila and I ve woken up in foreign countries. I ve been in some strange situations but what I ve never really done was I d never been a father. As for what s next Rocco is under construction on his megalocation in Brooklyn set to open this winter. He says of coming back to his home state It s a little bit nerve-racking. But his track record lends him confidence In Orlando not a lot of people knew me either but I Rocco-fied the neighborhood he jokes. His partnership with the Barclay s Center and his 10k Facebook followers will likely lead to the same result. Rocco s Tacos is also set to open on Atlantic Avenue in Delray Beach later this year and in another stroke of irony the location used to house a restaurant that Rocco waited tables at. It s like everything came around full circle for me. At the end of the day Rocco stresses that South Florida is his home. He loves to eat at places like New York Prime Kapow Noodle Bar and Sal s Express Pizza. Now that he s a family man he often visits Houston s in Pompano with his girlfriend and daughter as well (he does after all have a real white picket fence ). Even after this unbelievable success story Rocco says he is Just a regular guy...I m a glorified busboy. Rocco Mangel Background Born in 1973 and grew up in the restaurant business in New York. His father was the GM at the Copacabana nightclub and his father had restaurants on Long Island. South Florida Arrived in West Palm Beach in 1997 with 200 and worked as a bus boy at Big City Tavern. Opened his first Rocco s Tacos & Tequila Bar nine years later. Growth beyond the region Rocco s Tacos opened in Orlando in September 2011. A Brooklyn location at Muss LLC s 339 Adams St. is expected to open this winter. Restaurant locations Boca Raton 5250 Town Circle Fort Lauderdale 1313 E. Las Olas Blvd. Palm Beach Gardens 5090 PGA Blvd. West Palm Beach 224 Clematis St. Website Email Rocco November 2014 41 PROFILE Employers seeking high-demand talent get shocked as the recession starts to fade Reality Check BY KEVIN GALE Veteran recruiting and staffing expert Mitch Kramer says there s almost a double whammy for employers these days. Many got used to minimal raises and bonuses during the recession but now salaries have gotten back to where they were before the recession. The unemployment rate for those with in-demand talent in information technology and accounting is effectively zero percent. 42 November 2014 PROFILE November 2014 43 PROFILE I love meeting connecting with clients and staying in touch and being an extension of the organization. The question isn t where they find a job but which of the multiple offers dangling in front of them they decide to pursue says Kramer president and CEO of Octagon Professional Recruiting and Octagon Technology Staffing. Some employers are stunned about the cost of replacing talent. It s very difficult to explain to clients until they have lost a couple of key employees or hires that this isn t 2008 or 2009 anymore Kramer says. Some understand quickly but many learn the hard way. The days of throwing a minimum salary range on the table has changed to getting people at or above the maximum of the salary range. Signing bonuses are coming back in vogue Kramer says. Experienced recruiter One advantage Kramer has is being in the field since the early 1990s when he worked at Career Associates and as a senior corporate recruiter for Ryder System. He came back from Ryder to open a downtown office for Interim which had bought Career Associates in 1995 and also worked for its successor company Spherion as a vice president covering multiple offices. One of his frustrations at big companies with multiple offices was losing contact with clients who could end up being handled by another office. I love meeting connecting with them and staying in touch and being an extension of the organization Kramer says. Understanding the corporate cultures at his clients businesses helps him match candidates. He started Kramer professional staffing in December 2000 and built it into a three-office operation in Miami-Dade Broward and Palm Beach counties. The company was acquired in 2006 by Allegis one of the nation s largest privately held staffing companies. He stayed on with Allegis until 2008. About five years earlier he had started an IT consulting firm FAS Group that was absorbed by a large local professional services firm in late 2009. Octagon s two arms Octagon combines Kramer s passions for both professional recruiting and IT with its two divisions Octagon Professional recruiting works in the fields of accounting finance and HR both permanent placement and contract staffing. Octagon Technology Staffing handles permanent and contract of technology professionals. Kramer has grown his operations to three offices Blue Lagoon near Miami International Airport the southern edge of downtown Fort Lauderdale and another on Glades Road in Boca. SFBW interviewed Kramer at the Fort Lauderdale office which is on Rose Lane off of Andrews Avenue. Surrounding his desk are collectible posters for martial arts. So what make Octagon different We like to be really good listeners he says. Many recruiters and recruiter firms spend too much time telling the client what they think they need. Every company has a different culture so it s important to listen closely to understand that he says. Second Kramer says members of his team have backgrounds in the fields in which they are hiring. We know the questions to ask says Kramer who majored in accounting at Florida State University and was a CPA with Arthur Andersen. Most of us come from the backgrounds we work in. The result is clients have to interview a smaller slate of candidates because Octagon understands what the client wants Kramer says. That saves his clients time and confusion. Kramer says referrals are the bread and butter of Octagon s work but it also utilizes an array of social media including Twitter Facebook and LinkedIn. With so many changes these days you need to stay on the cutting edge. OCTAGON PROFESSIONAL RECRUITING AND TECHNOLOGY STAFFING President Mitch Kramer Email mkramer Website Fort Lauderdale 14 Rose Dr. Phone 954.452.4548 One Boca Place 2255 Glades Rd. Phone 561.922.3550 5201 Blue Lagoon Dr. Phone 305.326.0206 Boca Raton Miami 44 November 2014 Experience Makes Us Experts At Brown & Brown we know that we must be as agile as the cheetah in order to thrive in the competitive insurance environment. Our unique culture has enabled us to quickly chase down new opportunities adapt our products and services to best meet market demands and satisfy our customers. Fort Lauderdale s Private Client Group Fort Lauderdale Division - 1201 West Cypress Creek Road Suite 130 Ft. Lauderdale FL 33309 Ph. (954) 776-2222 Fx. (954) 771-9192 Auto Aircraft Bonds Condominium Collectables Flood Health Benefits Homeowners Liability Marina Personal Property Umbrella Workers Comp ECONOMIC DEVELOPMENT Miracle Mile One of South Florida s original urban villages gets ready for a makeover By Julie Shattock It seems just about every city in South Florida is trying to create a live work play neighborhood but Coral Gables is getting ready to freshen up one of the first in the region Miracle Mile. The city s Business Improvement District (BID) is moving ahead on a long-awaited 18.8 million streetscape improvement plan after getting a sign off from the city commission. Yes Miracle Mile is that original Main Street says BID president Burton Hersh who is also an architect. It was first built in the early 1920s and soon will be a century old. During these 100 years there have been some improvements but the streets have remained fundamentally the same. In an interview with SFBW Hersh talked about the project and what it will mean for the future of Coral Gables. What inspired this project The realization that if we didn t do something we weren t going to remain viable as a business district. In 2007 the BID board concluded that making improvements to the Miracle Mile as well as Giralda was necessary. At that time South Miami was undertaking its improvement Brickell was being built and Miami Beach downtown and Midtown were becoming a factor. The writing was on the wall. What are some of the improvements that are going to take place When you look at like the great shopping streets of the world you conclude that there is a ratio 50 percent of the street is vehicular and 50 percent is pedestrian. We are trying to get closer to that mix. It means that the sidewalks must be able to support multiple uses such as window-shopping circulation and caf dining all in a high quality environment. Do you see examples of property owners doing improvement to tie in to the Streetscape changes Once the project is underway we are expecting this to happen. What better time to rebrand renovate and rebuild than while It was first built in the early 1920s and soon will be a century old. Burton Hersh this project is being done on the streets. Does the project somehow build on Coral Gables history I think it does in the sense of just normal urban evolution. If you look at the roots of Coral Gables historically it has always been on a very high level. The landscape is incredible the quality of buildings is very high. Therefore the materials that will be used will be of very high quality. You are going to see crosswalks that are works of art and granite curbs just very high quality. An evolution of what it was. This project has been your brainchild since 2007 why is it just now being approved It took that long to be approved. In 2007 the project became the BID s top priority. We formed a committee held workshops 46 November 2014 ECONOMIC DEVELOPMENT Left Giralda Avenue before Below Rendering of Giralda Avenue after reconstruction Streetscape Project Highlights and did design alternatives. We vetted it out with all the other boards and went to a couple city managers. It took seven years to do. But it s done. We are seeing a lot of foreign interest in Miami is this part of what you want to attract in Miracle Mile Coral Gables is a big business venue. We have more consulates than any other city in Miami-Dade County. We attract a lot of foreign interest. We are minutes away from the airport and I do believe that this intervention that we are going to undertake will add to our attraction. How are you going to minimize the impact to business owners during construction The construction will be done in pieces. Some of the impact will be minimized by nighttime work incorporated into the project. Are numerous construction companies involved in the project Who are they In a few weeks a request for qualifications will go out to interested parties. I would expect that nationally recognized firms would be interested in this project. What are the beginning and end dates of the project In two years it should be completed. How do you see Coral Gables in the next 5 years In the next five years Coral Gables will be an amazing place. Not only will you have seen the streetscape project being completed but you would have seen hotel projects come online. There is even a proposal on the table of developing the Old Spanish Village. [A concept introduced earlier this year called for 295 000 square feet of retail 206 000 square feet of office space an 184-room hotel and 234 residences.] With all the changes coming up there will be a tremendous growth in Coral Gables economically. The city of Coral Gables is issuing a general obligation bond for the 18.8 million project in an area with 350 merchants. About 150 property owners in a 19-block area will pay back half the cost over a 20-year period. Elements of the plan include Permanent valet stations with car pickup at multiple locations Wider sidewalks Public art displays Open plaza areas along Miracle Mile Barrriers on Giralda Avenue that can be raised to make it pedestrian only Improved lighting Tree grates Benches Kiosks Better signage Improved drainage November 2014 47 CEO CONNECT Ronald L. Book is the go-to lobbyist in Tallahasse ranked first in the state in fee income. He gives an inside view on his triumphs and failures plus the big issues including the governor s race medical marijuana and expansion of gambling. BY KEVIN GALE The ber Lobbyist Ronald L. Book is a civic and charitable leader who is You were ranked in June by Sunshine State News ranked as the state s top lobbyist by Sunshine State News Service as the top dog on the Florida lobbying Service with his three-member firm earning 5.6 million in scene with your firm bringing in 5.6 million. How do you manage to stay on top fees for 2013. There is an old saying that behind every man there is a good Book has a bachelor s degree from Florida International woman. I m fortunate to have two women who are government University and a law degree from Tulane University. His activity in state affairs goes back about four decades affairs experts. Kelly Mallette director of government affairs and Ronald L. Book P.A. has celebrated its 25th anniversary. has been with my firm 20 years. Rana Brown government He is a former Director and Special Counsel for Governor affairs consultant has been with my firm seven years. I m fortunate to have two Bob Graham s Cabinet and people whose work ethic is Legislative Affairs Office. like mine. We speak in the Over the past decade and firm about capacity how a half he has raised over many matters you can 25 million for various handle well at one time. It s candidates and causes. not simply about juggling Ron was Director but how you control the of the Administrative matter and move it. and Governmental Law People ask when I m Department for Miamigoing to quit what I m based Sparber Shevin doing. I m never going Shapo Heilbronner & to quit what I m doing. Book one of Florida s most I probably work harder influential law firms from today than I did 20 years 1977 to 1987. ago 10 years ago. I try to Among his top clients get in the office at 6 15 in are AutoNation the Miami the morning and work until Project to Cure Paralysis eight or nine in the evening. Ashbritt the West Flagler Kennel Club Miami Dade Lobbyist Ron Book is also an advocate for the homeless. Over the course of County Jackson Memorial building your career Hospital and the University do you have a matter that you wish you didn t do of Miami. I wish I didn t act like Pac-Man in the early years and He has represented the Miami Dolphins Florida Marlins and Florida Panthers and has helped sports teams gain funding take everything. In the early part of your career you are trying to build a name and reputation. We represented the for projects. Ron has represented many non-profits including The Dan gun manufacturers for a really long time in opposition to gun Marino Foundation and The Autism Society of Florida. He has control and even waiting periods and cooling off periods. If I been a strong advocate for the homeless serving as chairman had one to take back that s one I would take back. of the Miami-Dade County Homeless Trust and administering over 250 million in funding. In 2004 Ron was awarded the We have a vote on Nov. 4 on Medical Marijuana with Alvah Chapman Humanitarian of the Year Award for his 16 polls showing it should pass easily. What are your thoughts years of service to the homeless in Miami-Dade County. The public knew a year ago it was going on the ballot and Here are edited highlights from an interview that was conducted live before an audience at JM Family Lexus by what their position was. They have made up their minds. The Gary Press the CEO of Lifestyle Media Group and SFBW poll a month ago has medical marijuana at 90 percent support. The public gets this issue. magazine. JM Family and TD Bank sponsor CEO Connect. 48 November 2014 SFBW CEO and Chairman Gary Press Ron Book and SFBW Publsiher and Editor-in-Chief Kevin Gale Thomas te Riele bottom South Florida market president of TD Bank which sponsors CEO Connect You will see under voting in races all cross the ballot because people are going out to vote for medical marijuana. Our prediction is that in only four to five years you will see recreational marijuana on the ballot and passing by overwhelming majorities. A blog writer says you are the last of a breed of lobbyists who are bigger on their own than any other firm and there won t be anyone else like you. What s your reaction to that You know I chuckled at the thought of somehow being a dinosaur. My world is a man s world. It is a man s world because that s what the capital is. It s not a man s world in my firm and everyone gets treated the same way. There is just no substitute for hard work. When we go to Tallahassee we go prepared. Lots of people who do what I do don t go to the microphone. I don t want my clients to make presentations. You trust us to know what you want us to do. We re supposed to think for our clients. If that s a dying breed God bless the rest of them who think they can do it another way. How would you describe the state of the economic recovery in Florida Since the second quarter of 2007 until up about eight months ago I have been going to so and so group and saying I don t have anything good to tell them. I m here to tell you Florida is back. Florida had a billion dollars more to spend in the 2014 15 budget than it did in the 2013 14 budget. If estimates are right we ll have another 1 billion-plus surplus above the rainy day fund than we had a year before. I represent one of the wealthiest people in America Richard LeFrak. He was buying the Gansevoort Miami South Beach paying 225 million and was going to put in 200 million. [The February 2012 deal involved the LeFrak Organization Starwood Capital Group and Invesco. The hotel is now called the Perry South Beach.] I thought his head should be examined the recovery hadn t begun. He projected that the pro forma at the Gansevoort was 750 to 800 a square foot. Those units are now selling for 1 700 or 1 850 a square foot. Florida is back. Tell us your thoughts on how gaming will continue to unfold in the state and the role you ve had in this such as representing West Flagler Kennel Club. I have been saying for three years that nothing is going to happen and I don t see anything happening. A lot will depend on what happens in the governor s race. Both candidates are largely in bed with the Indian tribe. It is hard to get a bill that expands gaming in any appreciable way through the Republican House. The only way you will pass gaming out of the House is if the Democrats join with it. November 2014 49 CEO CONNECT Laura RaybinMiller and Ron Book People ask when I m going to quit what I m doing. I m never going to quit what I m doing. I probably work harder today than I did 20 years ago 10 years ago. state is doing its part on real trauma accidents. Having been in the top three of lobbyists for 25 years I took it very personally when I took the Miami Dolphins to the Legislature the only professional team that doesn t get sales tax rebate. When they took the bill up in the third reading we lost by one vote. I was crushed. Two years go by and we came back with a bill for the new owner. We got crushed again. We passed the bill out of the Senate. We went down to the House and we thought we had a commitment to bring it up in the House. The speaker on the last day wouldn t bring it up. I was crushed. I have replayed those losses not a hundred times but a thousand times wondering how I could have done it differently. This year we passed a bill that will fund up to 90 million when the owner [Stephen M. Ross] is writing a check for 400 million the only franchise owner that has done that in the history of major league owners. Tell us about your charitable endeavors with your daughter Lauren Book whose Lauren s Kids fights the issue of childhood sexual assault. She travels around the country and around the world for her foundation. We have made Florida and a lot of the states around the country safer. Once a year she laces up her sneakers during National Sexual Assault Awareness Month. She is starting in Key West and traversing the state. The Justice Department has said 95 percent of sexual abuse is preventable. Until the last gasp of my days I will support what she does to make this state community and nation safe. The pedophile predators are worse than sewage in the scum pond. For more information on Lauren s Kids and Lauren s 1 500mile annual walk visit I just don t see the scenario in which Crist or Scott bring forth something that skewers the Indians no play on words intended. I just think that at the end of the day there is probably a slightly better chance for something other than a gaming compact with some modest enhancements for pari-mutuels if Scott is governor. How do you see the race for governor unfolding I m fairly objective. I used to be a Charlie guy and I m a Rick guy today. The day Crist announced he had a 13 14 16 percent advantage over Scott. He has gone backwards since he has announced. The election result will be determined by the three South Florida counties. It will largely be determined by whether the brains behind Barack Obama will be able to replicate the turnout for his election. What s the professional success for which you are most proud What s the professional failure that still bothers you and why The high point was probably the port tunnel in Miami-Dade. Charlie Crist pulled the plug and started to distribute the half billion set aside. Kelly and I got a call after it was dead. The issue was in a meat grinder. Three or four weeks passed and it was still dead. We demanded to find a way to dig the tunnel from under the bay bottom. We got it out of its coffin. The rest is history and the tunnel is open. If there is a second great moment it is the Miami Project to Cure Paralysis. When I went to the legislature in 1997 I had General Norman Schwarzkopf in tow. He was touring the Miami Project because of all the brain and spinal injuries from individuals in the military and the project was doing such great things. We wanted 10 million. We got 9 million and I went back the next year and got the next million. 3 of every 158 of red light camera tickets goes to the Miami project. It was Kelly s idea to tie brain and spinal injury to red light cameras. 10 goes to our other clients the level one and level two trauma centers to make sure when someone we know gets scraped off the windshield the CE CONNECT WHERE SOUTH FLORIDA S ELITE MEET SFBW s CEO Connect is an invitation-only event that combines high-level networking with cocktails and appetizers plus a live interview with a top business executive. 50 November 2014 November 2014 51 BOATING The 140-foot Benetti Veloce will be introduced at the show. Fort Lauderdale International Boat Show highlights marine industry s economic impact BY KEVIN GALE Making Waves The Fort Lauderdale International Boat Show will be full of glitz glamor and mega yachts plus more modest craft for those of us who just want to go fish. However the show also symbolizes Fort Lauderdale s role as the Venice of the Americas and the national epicenter for the marine industry. The show alone is estimated to have a 500 million impact David Coddington vice president of the Greater Fort Lauderdale Alliance said during a Marine Industries Association of South Florida panel discussion. Association statistics indicate the economic impact of the marine industry approaches 9 billion a year in South Florida. The area faces competing economic A Cruisers Yachts 390 interests through. Development has taken away space for some shipyards and there are worries that bridge openings on the New River will increase with the new All Aboard Florida high-speed service from Miami to Orlando. There s a need for dredging of the Intracoastal water to accommodate yachts with deep drafts. Marine industry leaders worry that the public thinks it s all about the well-to-do enjoying the good life when the bigger issue is generating jobs. There are an estimated 150 000 jobs supported in Broward County alone starting with manufacturers repair yards and then all the satellite businesses ranging from food and beverage suppliers to electronics companies 52 November 2014 BOATING The 146-foot Hakfoort left is named My Trust Fund and is being listed for sale by Fraser Yachts. Fraser also has the listing for a 196foot Benetti below. Worth Avenue Yachts is listing the 157-foot Christensen Yacht below left named Top Five for 21.99 million. and businesses that train crews. Even the Publix near Port Everglades does a booming business connected to the marine industry. Among the positives Coddington talked about a new crane at Derecktor Shipyards in Dania Beach that can handle 200-foot yachts which has taken the market up another notch in capability. Yachts are like floating corporations and can go anywhere in the world he said. The area is home to the largest concentration of marine-related businesses in the world and customers want to come here said James Brewer director of sales and marketing at Derecktor. That s why the company invested 6 million two years ago to double capacity. One issue in the region is a shortage of dock space for mega yachts said Dean du Toit founder of National Marine Provisions. It has 145 employees that help with logistics engineering interiors medical supplies and an array of provisions that can be supplied globally. He joked that a 70-foot yacht used to be a super yacht but now it could be a tender for the biggest yachts. Du Toit was recently involved in 31 new ship builds in Europe and every one of them are over 200 feet and some are even 600 feet. When a 200-foot yacht undergoes a 100 000 to 10 million refit it involves an array of contractors he noted. More capacity is needed to handle the big yachts Brewer said. We are all turning boats away on a consistent basis. The demand is there since service work in Florida is about 30 percent cheaper than Italy and about 40 percent cheaper than northern Europe. Getting that repeat business is important Brewer said. You are as good as your last movie. You have to focus on making your last visit to Fort Lauderdale pleasurable. November 2014 53 AUTOMOTIVE Ed and Carol Williamson and son Trae who is president and a UM professor History in the making Williamson family dealership expands at a site once used by Henry Flagler BY GAIL SCOTT Q&A 54 Cadillac on North Kendall Drive across from Dadeland Mall. At this point Ed joined the company. In 2002 our son Trae gave up his law practice in LA and moved back to Miami to become our partner. Tell us about the historic property that Williamson Cadillac-BuickGMC is located on When Henry Flagler built the Overseas Railroad he used this property as a staging area. It later became the site of Dadeland Farm and Garden Supply. Next the property was bought by the Davidson brothers who built their How did your family get started in the automotive business In 1945 when George Williamson Sr. returned from WWII he bought into his father-in-law s International Harvester Cadillac Dealership in a small town in Northeastern Indiana. In 1954 George Sr. bought a CadillacOldsmobile Dealership in Lake Wales FL. Then in 1967 he built Williamson November 2014 Davidson Lumber store. They tore this down in 1981. We bought this site from Stanley Davidson in 1997 and built the current dealership in 2001. Earlier this year we bought the A1 Fargo Warehouse immediately north of us to expand service and parking. Your son Trae joined the family business in 2002. What is his role Trae is our partner and President of Williamson Automotive. He gives us as much time as he can but he is also a professor in the School of Business at UM something he is very passionate about. 954.567.8020 Between Sunrise Blvd. & Las Olas Blvd. on A1A 601 N. Ft. Lauderdale Beach Blvd. Fort Lauderdale FL 33304 Oceanfront at The Atlantic Hotel & Spa 601 N. Ft. Lauderdale Beach Blvd. Fort Lauderdale FL 33304 954.567.8070 November 2014 55 COMMERCIAL REAL ESTATE Tight space in Miami-Dade starts to be an issue elsewhere in the region BY DARCIE LUNSFORD Retail rebound You don t have to look much further than the local street corner to realize retail is back in South Florida. New retail developments have begun to spring up like lilacs after a long cold winter. Across the region there is more than 2.2 million square feet of new retail space under construction. And based on the region s shockingly tight vacancy numbers it is needed. What is going on in the retail market is that nothing has been built in the last five years and the population keeps growing said CBRE Senior VP Paco Diaz who is based in Miami. I have never in my 30 years of being in this business seen it be this low. The market is tight. The need for new retail space is particularly acute in MiamiDade County where vacancy was less than 4 percent at mid-year according to CBRE market data. And as history repeats itself the strengthening that started in Miami is now flowing rapidly north into Broward and Palm Beach counties. Both saw second-quarter vacancy rates dip below 8 percent data showed. We have rebounded from the recession said CBRE VP Roxanne Register who is based in the brokerage s Boca Raton office. We are under retailed for the number of people moving in. Expansions new names in market This retail space crunch comes as a new generation of retail expansion is marching in. Urban Outfitters Walmart and its grocery concept and Fresh Market are among some of the retailers now expanding their footprints. Then there is the much-ballyhooed Trader Joe s whose arrival is spurring larger infill redevelopment projects like the130 000 square-foot Delray Place at the corner of Linton Boulevard and Federal Highway in Delray Beach. There s also a tidal wave of new concept retail and dining All Aboard Florida s Miami station will include 200 000 square feet of retail on its site near the Miami-Dade Courthouse. 56 November 2014 COMMERCIAL REAL ESTATE Trader Joe s is among a new wave of retailers in the region. Our target is a more sophisticated entrepreneur or a business person from Latin America or Europe that needs a really nice office space. concepts washing onto South Florida s shores from international companies looking to cash in on the region s population growth and strong tourism base according to Sharon Dresser president of High Street Retail USA. Among them Dresser said is Giraffas Brazilian Kitchen & Grill Italian eatery 4D Gelateria Spanish eatery 100 Montaditos and Spanish footwear designer Pretty Ballerinas the favored ballet flat of celebs like Kate Moss and Angelina Jolie. Whatever has been built has been taken up by new concepts Dresser said. Supply and demand she said is completely out of balance. This is driving up rents across the region with hot spots like Lincoln Road in Miami Beach Midtown Miami and Atlantic Avenue in Delray Beach seeing sharp rental spikes. In Miami Beach for example the average asking rent is now more than 190 a square foot. Quest to find sites But building new retail to capture booming demand isn t as easy as it use to be. Large tracts of vacant land in close proximity to where most of us live and work have gone the way of the dinosaur in South Florida. Urban infill development in downtown areas and repositioning of older suburban centers into higher-quality ones is where much of the retail construction is happening said Orin Rosenfeld of Boca Raton-based Rosenfeld Realty Advisors. It is a flight to quality he said. When you step down a level there is still space available and competitive pricing. The largest concentration of new retail either coming out of the ground or soon to be is infill redevelopment happening in downtown Miami within three large-scale projects Swire Properties billion-dollar Brickell City Center is now under construction and will deliver 565 000 square feet of new retail to the Brickell Avenue financial district. Miami Worldcenter one of the nation s largest master-planned projects is poised to deliver nearly 900 000 square feet of new downtown retail including a Bloomingdale s and Macy s. All Aboard Florida s new passenger rail station and inner-city redevelopment project MiamiCentral will bring 200 000 square feet of new retail to a nine-acre site just east of the Miami-Dade County Government Center. We see a pretty long runway out in front of us and we are in a good place in the cycle Duane Stiller president of Boca Ratonbased shopping center owner Woolbright Development recently said at a CBRE conference in Miami. If you look at the overall horizon there is one thing this state does which is to grow. Freelance writer Darcie Lunsford is a former real estate editor of the South Florida Business Journal. She is senior vice president for leasing at Butters Group and is avoiding a conflict of interest in her column by not covering her own deals. November 2014 57 BUSINESS SCENE Publisher and Editor-in-Chief Kevin Gale center briefs attendees on plans for the magazine SFBW Advisory Board Meets South Florida Business & Wealth held its first advisory board meeting with a cocktail hour reception at Morton s The Steakhouse in downtown Fort Lauderdale. The board will meet periodically to provide feedback about the magazine and talk about the latest trends in business. Among the hot topics at the first meeting were how Florida compares with other regions and how the region needs to recruit more brainpower. That was sparked by a recent trip made by NAI Merin Hunter Codman Chairman Neil Merin to the Research Triangle area. Stiles Chairman Terry Stiles talked about the collective impact of the region s seaports as arguably the biggest economic engine. A proposed rail line along U.S. 27 towards Lake Okeechobee is likely needed to handle future capacity given the widening of the Panama Canal. Another interesting viewpoint was how South Beach and Miami bring sizzle that needs to be appreciated by the whole region. One comparison was that Palm Beach is to Miami what Greenwich Connecticut is to New York City. The meeting was a mixture of old friends catching up and talking about deals plus new acquaintances strategizing about doing business together. Merin and Jeremy Larkin of NAI Miami and Neil Merin represented opposite ends of South Florida in the real estate field while developer Terry Stiles has business that runs all the way to the Carolinas. Law firms were represented by Tripp Scott President Ed Pozzuoli and firm Strategic Planning Director Heidi Armstrong Porritt plus Greenspoon Marder CMO Rosy Lopez and Shareholder Mark K. Somerstein who filled in for traveling Managing Partner Gerald Greenspoon. The financial sector was represented by TD Bank South Florida Market President Thomas te Riele and BBX Capital Chairman and CEO Alan Levan. Atlantic Partners CEO Monroe Gang represented the technology and recruiting sectors. One final note The SFBW Advisory Board sends its condolences to Jordan Zimmerman whose father passed away a few days before the meeting. 58 November 2014 BUSINESS SCENE Ed Pozzuoli president of the Tripp Scott law firm and Neil Merin chairman of Merin Hunter Codman Gary Press chairman and CEO of SFBW and Lifestyle Media Group and Terry Stiles chairman and CEO of Stiles Heidi Armstrong Porritt strategic planning director at Tripp Scott with Kevin Gale publisher and editor-in-chief of SFBW Jeremy Larkin president of NAI Miami and Alan Levan chairman and CEO of BBX Capital Ed Pozzuoli president of Tripp Scott Rosy Lopez chief marketing officer of Greenspoon Marder Monroe Gang CEO of Atlantic Partners Mark K. Somerstein a shareholder at Greenspoon Marder and Tomas te Riele Florida market president for TD Bank. November 2014 59 LAW Courts have started to rule against Florida s constitutional ban on gay marriage which could lead to changes in tax and estate planning for same sex spouses in the future. To look at the current situation and what s potentially ahead SFBW interviewed Tanya L. Bower a director with Tripp Scott who focuses her practice on estate planning asset protection and wealth preservation. Gay marriage rulings create legal flux mechanism is not enforcing DOMA so the result for the IRS is that a district court in Massachusetts will allow for same-sex spousal rights while in a state where same-sex marriage is banned such as Florida the IRS is not going to have to accept a spousal tax exemption. Let s say we have a same sex couple in Florida who was married in another state and one spouse dies. If you don t have a will who gets the inheritance What about trusts Because we don t recognize same sex marriage the state of Florida looks at blood relatives legally married spouses children parents and siblings or their children. Absent a will you are not going to have a right unless you have title on property as well. Trusts are a different. I have situation with a client who lives here and his partner lives in another state. He wants to name his partner as his personal representative in Florida where there is a preference for family. So the family could always go to court and petition for him not to be a personal representative. This is not the same with a trust. The client can name whomever he wants which is not likely to be overturned by a court without some showing of malfeasance or inaptitude. Are there some benefits for same sex couples not to get married whether it deals with taxation or the ability to go after spousal assets in a divorce When you are married and file jointly your exemptions are generally twice that of a single person. You tend to get tax breaks on the ability to combine your incomes particularly if you have a high- Q&A We ve had rulings against Florida s same-sex marriage ban but where are we overall With the U.S. Supreme Court s strike down of Section 3 of the Defense of Marriage Act (DOMA) same-sex marriages will be recognized for federal purposes such as federal taxation and other rights. Each state including the State of Florida will need to address its laws for state law purposes. If gay marriage is fully recognized and legalized in Florida how does that impact benefits Under the Employee Retirement and Security Act (ERISA) which is a federal statue my spouse has to agree if I name someone other as a beneficiary. Traditionally with a same sex couple we did not worry about that. It is still unclear however if the federal government may require individuals to do so under DOMA. Likewise we may see spousal Social Security survivor benefits available in the near future. What are the IRS rules in all of this The IRS has not applied same sex marriage as spousal status. Currently the Department of Justice will not enforce Section 3 of DOMA so we have some significant decisions primarily out of courts in the Northeast allowing for spousal status for same-sex couples. The IRS is in a bind Its enforcement Tanya Bower earning spouse and a low-earning spouse. If we don t recognize same sex marriage in Florida you don t have a right to my assets. If I m in a same sex marriage with a partner and I have a 401k and have accumulated a half million dollars it s all mine. I can make anyone a beneficiary. What s the legal implication for same sex couples if they had children and gay marriage becomes legalized When you have a same sex couple and one is the biological and one is not you end up needing an agreement that the non-biological parent still has rights to see the child. The biological parent could deny rights forever. If we recognize same sex marriage in Florida then you have the same rights as an opposite sex marriage. If the child was born before same sex marriage was recognized you may still need to have had an adoption. Tanya Bower can be reached at 954.525.7000 or TLB 60 November 2014 November 2014 61 INSIDE THE INCUBATOR The U.S. is shifting permanently away from mass employment to the individual economy. The Incubator StartUp-Miami By Leslie Kraft Burke Some are getting help from StartUp-Miami s AIM program (Accelerate Incubate and Mentor). The invitation-only initiative supports companies through business formulation and launch with more than 250 000 in cash and direct benefits such as support for fund raising mentoring services assessing and evaluating business plans advising on growth strategies and competitive positioning pipeline issues and business development. Other You may have heard of start-ups but what about start overs It s a name being given to Baby Boomers who are embarking on entrepreneurial quests sometimes frustrated with a job market that doesn t seem accepting of their skills and experience. 62 November 2014 November 2014 63 INSIDE THE INCUBATOR demographics being targeted are graduates of STEM programs (science technology engineering and mathematics). Women and veterans also receive preference. SFBW interviewed co-founder and CEO James Rohrbach who is also the general partner at LaunchMeLabs and a certified Kauffman Fastrac Facilitator & Program Director. We know what a start-up business is but what is a start-over business People over the age of 55 are the largest group starting over in work by starting their own businesses but this is a trend we will see more of for adults of all ages. Why the trend The U.S. is shifting permanently away from mass employment to the individual economy. It s a new creative economy that values knowledge intellectual property and individual skills. Entrepreneurship leverages these strengths but traditional companies are not designed to do that they become efficiency machines that don t invest in the future or people. Instead they exploit cash flow. Eventually successful new companies become mature businesses. Why won t they repeat the same cycle Education. In the past schools have not taught us how to be our own bosses and how to bring value to the work we do in a competitive workplace. Once business owners are educated a different way perhaps by organizations like StartUp-Miami and in schools they will understand the value of investing in the future and in people who have the skills that will bring their business into the future. Lots of companies say they do that now but it doesn t seem to be the reality in the midst of staff layoffs and stagnant wages. What will change to help them behave differently They are already outsourcing a lot of work because their organizational structures often don t allow those with entrepreneurial ideas to execute them within these companies. This is where the advantage comes in currently and beyond for startups and start-overs. They are created keeping in mind the gaps that need to be filled and positioned for the future. Phone 877.330.3691 or 305.START.UP (305.782.7887) Website 64 November 2014 BEHIND THE MIC Talking Turkey about Networking Outside Investors & Education BY JIM FRIED This month our show had some awesome guests. Ivan Misner the Founder and Chairman of BNI the world s largest networking organization was fascinating. He s often called the father of modern Ivan Misner networking. We discussed mindfulness and networking being present while you are meeting someone in a networking situation. I sometimes have jitters when I am anticipating an important event. The jitters melt away when I shake the first hand. Ivan mentioned that this is common and that many people have a problem focusing during networking. Their eyes jump around the room looking for the next person to meet. I find myself doing that and simply apologize to the person I am speaking with. Ivan also mention that it s a good idea to make sure the back of your card is easy for people to write on. He likes to take notes on the back of the business card as soon as he meets somebody. I do the same thing. Ivan had some other great networking tips as well. You may want to check out his interview on my website. Another great guest this month was James Cassel. He is the chairman and co-founder of Cassel Salpeter & Co. a Miami-based midmarket investment banking firm. We discussed how to fund of the growth of your midsize company. There are many businesses based in Miami that are family run that need outside growth capital. James discussed what outside investors are looking Dr. Joe Glover for and what the business owners could expect when they took their company to market. Solid historic cash flow and the ability to execute a business plan going forward are two of the keys. Our discussion also touched on the current state James Cassel of the financial markets as it relates to bank financing for closely held mid-size companies. Cassel said lending is still tight but community banks are leading the way in trying to loosen things up. I round out this month s review with Dr. Joe Glover who is the provost at the University of Florida. That makes him secondin-command at the state s flagship university. We talked about the University of Florida s preeminence campaign. It is focused on raising dollars to take the University of Florida to the top of the public university field. Joe started out as a mathematics professor and worked his way up to Provost. As the world becomes more competitive it becomes increasingly important for Florida to have a university that s ranked at the top. The Florida Legislature recognizes this and is funding an intensive Preeminence program for UF as it races to the top. Joe and his team are enhancing programs ranging from the impact of big data to creative writing. Joe was fascinating but what s going on at UF is even more interesting. It was truly a month of great interviews. You can hear each of these interviews and many others on my website at www. 66 November 2014 WHAT DRIVES YOU Your passion fuels your success. And we re as dedicated to you as you are to your business. MassMutual will listen to your needs seek solutions to your financial challenges and help you plan for what s ahead. IS WHAT DRIVES US. DBS Financial Group David Schulman CLU ChFC General Agent Erik Sussman CFP CLU ChFC Agency Managing Partner DBS Financial Group 1000 Corporate Drive Suite 700 Fort Lauderdale FL 33334 954-938-8800 dbs-financial-group BUSINESS SUCCESSION PLANNING KEY EMPLOYEE RETENTION AND EXECUTIVE BENEFITS PRODUCTS RETIREMENT 401(K) PLAN SERVICES MassMutual Financial Group refers to Massachusetts Mutual Life Insurance Co. (MassMutual) its affiliated companies and sales representatives. CRN201609-186028 NEW SOUTH FLORIDA NOT SO SCARY 13th Floor Investments takes advantage of the recession and teams up on major projects BY KEVIN GALE 1010 Brickell was 90 percent sold in 90 days. 68 NEW SOUTH FLORIDA The rooftop at 1010 Brickell one of the projects 13th Floor Investments has done with Key International. 13th Floor is led by Managing Principal Arnaud Karsenti left while Michael Nunziata is one of the other principals. Sometimes bad stories end up with happy endings. A major political scandal arose when Tamarac s Sabal Palm golf course was being converted to residential development land. Father-and-son developers Bruce and Shawn Chait received probation after pleading guilty to unlawful compensation in trying to sway Broward County Commissioner Josephus Eggleton who ended up in prison. Tamarac Mayor Beth FlansbaumTalabisco was also suspended from office after a conviction which was later reversed. Now homes are actually being built on the site after the Chaits sold to 13th Floor Investments a Miami real estate investment and management company that is allying with big names including Key International of Spain The Related Group and The Adler Group. Managing Principal Arnaud Karsenti is expanding his reputation as a value investor with about 1 billion in real estate deals. It has fully deployed a 50 million fund and was recently about halfway through a second 150 million fund. College Entrepreneur Karsenti s original business success was with a company called Collegeboxes a shipping and storage company that targeted college students. It started out as an engineering class project when Karsenti was at Duke University and grew to over 400 locations. He sold it in 2004 and it s now owned by U-Haul. Karsenti who also has a Harvard MBA started off doing single real estate deals in 2003 in Miami and then it evolved into 13th Floor. 13th Floor s management team includes COO Ray Melendi who was director of REO for Rialto Capital Management a Lennar spinoff. Principal Jacob Roffman worked at H.I.G. Capital. In 2008 13th Floor looked at distressed assets buying cheap from banks and developers where assets were below replacement costs. Principal Michael Nunziata says he met Karsenti in New York in 2009 and the company gained the 50 million fund in September 2010. It was largely to his [Karsenti s] credit that we were able to get investors at that time Nunziata says. The strategy shifted in 2012 as the market rebounded into what Karsenti called more of a growth value strategy. Sabal Palm has turned into a 253 single-family home development with prices starting at a modest 241 990 for a 3 2.5 home. Its location at Commercial November 2014 69 NEW SOUTH FLORIDA Chad Oppenheim is the architect of 400 Sunny Isles which is another 13th Floor and Key International project. Boulevard at Florida s Turnpike makes it an attractive location for commuters. The developer is 13th Floor affiliate Central Communities which has delivered communities with over 4 000 homes and home sites. Key International Alliance 13th Floor has also teamed up with Spain s Key International on several projects. Key is known for doing Mint and Ivy along the Miami River among other projects. Chad Oppenheim is the architect on Key s 400 Sunny Isles development which will have two 20-story glass towers with a total of 230 units. The project on 163rd Street just west of Collins Avenue is expected to be completed in the summer of 2015. Sieger Suarez is the architect on the 50-story Key project at 1010 Brickell. The building will have 387 residences and made news in March when 90 percent of its units sold out in 90 days. 13th Floor also has a couple of retail sites in the Design District and recently bought the office building in Coconut Grove that houses the accounting firm Kaufman Rossin Nunziata says. Karsenti sees the Design District and Midtown as the poster child for re-urbanization in Miami. He likes the population shift and interest by foreign buyers. He also sees opportunity in what he calls tweener areas such as between Bal Harbor and Sunny Isles and Morningside to Aventura. He ticked off their attributes Those areas are coastal and easy to get to. They have great access. They have excellent causeway visibility and access to the beaches. It s easy to get to the airport. They already have density. In August a press release announced that 13th Floor Key and the Related Group had teamed up to buy 2.4 waterfront acres in Hollywood for a mixed-used condo-hotel project. It will be across from Related s Apogee Beach and Hyde Park developments. Transit-Related Opportunities After waterfront area development the next best story is the transit-oriented story such as projects near All Aboard Florida and MetroRail in Miami Karsenti says. Although MetroRail was created 20 years ago he sees it just now becoming a more pronounced means of transportation. We believe the artery from south Miami to north Miami for the Metro line is a very interesting story he says. In April it was announced that 13th Floor had teamed up with The Adler Group for an apartment building next to the Kendall Metrorail station. Karsenti says At the end of the day people are valuing their time and valuing their lifestyle and spending an hour hour and a half in their car commuting is not part of that. Key International and 13th Floor teamed up on Mint top. 13th Floor affiliate Central Communities is developing Parc Central bottom. 70 November 2014 November 2014 71 VENTURE VIEWPOINT Comvest Partners Targets Opportunities In Health Care Founder and Managing Partner Michael Falk tells how South Florida has turned out to be a great location for his company and about some of its key investments including airline company Allegiant Travel and BEL USA a Miami area promotional products company. BY LESLIE KRAFT BURKE Q&A What types of companies do you invest in and why We invest in lower middle market companies where we see opportunities for operational improvements and growth. We invest in sectors where we have expertise which includes healthcare services manufacturing technology retail and consumer and transportation and logistics. Where are they based Our companies are all based in North America primarily in the U.S. How do you find them Our firm has been actively investing in the lower middle market for over 25 years. In addition to the relationships of our investment professionals and an extensive network of attorneys restructuring professionals bankers advisors and financial professionals that regularly refer us deals we have an inhouse new business development group that calls directly on lower middle market companies and intermediaries across the U.S. What in your opinion is the best investment the company ever made Allegiant Travel (NASDAQ ALGT). This was a company that created a unique low-cost destination specific airline model bringing travelers to one of the top destinations in the U.S. Las Vegas from tertiary cities all over the country. Our capital investment and expertise allowed them to execute on the strategy and expand the concept to other top U.S. travel destinations such as Orlando. We returned over six times invested capital to our investors in less than two years. What is the average size of your investment (in dollars) Our average investment is 25 million - 50 million. What industries do you invest in and why We invest in industries in which we have experience and particular operating expertise or resources we can bring to bear. Historically our core focus has been on healthcare services manufacturing technology retail and consumer and transportation and logistics. If you were to add an industry what would it be While we maintain a focus on a core set of industries we will broaden our focus and look at other industries provided we believe we have the proper internal expertise and operating resources for us to execute our strategy. What industries are hot in South Florida Companies of managed care that align with the Affordable Care Act s focus on cost containment and quality of care currently present opportunities for Comvest. What criteria do you use to understand if a company is a good investment On each investment we undertake a very detailed due diligence process. The process includes among other things assessment of the market and competitive dynamics of a company its position in the industry strength and specific experience of the management Michael Falk team outlook and sustainability of the profit margins recurring nature of revenue barriers to entry historical and financial performance and current financial performance opportunity to improve financial performance and growth valuation of the investment and anticipated exit opportunities. What is your most recent investment and why did you make it BEL USA. BEL USA is an online promotional products company based in South Florida that has created a competitive advantage by integrating its supply chain. BEL USA offers the lowest cost and best quality product to customers seeking customized mugs t-shirts pens etc. and has built a highly successful business. Since BEL USA runs its own website ( printing warehouse and distribution the company is able to provide a reliable cost effective product to its customers and has sustained rapid growth. We believe that growth can continue. Why are you based (or have an 72 November 2014 Comvest Partners helped fund the growth of Allegiant Air which focused initially on serving Las Vegas. office) in South Florida While our business can be located almost anywhere on the U.S. South Florida offered a unique opportunity to partner with highly successful and experienced local operating executives who after achieving a degree of success have relocated here either full-time or part-time. These executives and the knowledge we ve been able to gain from them have been invaluable to our organization and much more difficult to attain in places like New York City where we were based before relocating to Florida in 2003. We have also found it to be a competitive advantage when winning over management teams for our portfolio company investments as there is often a comfort level for smaller companies in dealing with a private firm located in South Florida rather than larger firms in big cities. Powering your bottom line right solution. right service. At Any time. 1-800-385-3187 Comvest Partners Name Michael Falk Title Founder and Managing Partner Company Comvest Partners Address 525 Okeechobee Blvd. Suite 1050 West Palm Beach FL 33401 Phone Number 561.727.2000 Web Site Company Description Comvest Partners is a private equity firm investing debt and equity capital in lower middle market companies nationally. Its investment vehicles include the Comvest Investment Partners equity funds and Comvest Capital debt funds. Since 2000 Comvest has invested almost 2 billion of capital in over 130 public and private companies. Number of Employees 44 Private Equity Assets 1.3 billion under management Mission Statement Comvest Partners provides flexible financing solutions to lower middle-market companies through its two funds. WIKIMEDIA COMMONS FRED November 2014 73 THE FAMILY OFFICE Business at the Speed of Happiness When I was 5 years old my mother always told me that happiness was the key to life. When I went to school they asked me what I want to be when I grew up. I wrote down Happy. They told me I didn t understand the assignment... ... and I told them they didn t understand life. John Lennon BY STEVE GARBER Steve Garber In most of our businesses and organizations our model service or technology is really not our differentiator. Success is determined by the quality of our people and how they relate and communicate to each other and the world around us our stakeholders and our customers. Attracting and keeping great people is our ultimate pathway to sustainable success. And it s a very challenging market out there for great talent particularly in South Florida. Management often appears (or tries to appears) as complicated sophisticated and even obtuse. Leadership is even more esoteric and harder to qualify and quantify. I think they are both really about understanding human motivation and making people happy. As Maslow taught us once our basic needs are met (wellness and safety) it s the higher needs of love esteem and growth that keep us motivated and happy. Assuming your people are healthy and in a healthy environment and they re receiving a fair compensation for their contribution to your organization s success creating an environment of likeable and happy is the single best strategy to keep your best people engaged and loyal. The Association of Accounting Technicians in The UK did research that was absolute in its result. Good colleagues beat high pay Eight in 10 workers would turn down a higher salary if it meant working with people they didn t like. Happy people make happy customers which make happy owners and shareholders. When you look deeply into Apple Google and other hugely successful stand-out companies you ll find they nearly all have something in common that helps separate them and keep them soaring successfully through the great recession and growing powerfully in the more recent times of expansion Their people are passionately engaged advocates for their business. They go above and beyond what they re paid to do because they have an emotional engagement with the business with the product and with their client or customer. They are happy where and with whom they work. This is what separates the mundane from the good and more importantly the good from the great. On the flip side the cost of having a disengaged culture is huge probably a lot larger than you realize. Factor in absenteeism low morale poorer customer service than you can imagine lost sales lost long-term customers and you can see the costs of unhappy people. The most important business and leadership objective to sustain business growth is to attract retain and grow great people. To do so you need to help them to be happy by helping them fulfill the following needs 1. To be respected. Everyone needs respect though we each want it in different ways. 2. To be cared about. When life s joys and sorrows come along we want to know people care. 3. To learn and grow. We want to feel like we are not stagnating that there is something interesting to do to learn and to expand our personal and professional horizons. 4. To be valued. Beyond being respected is the knowledge that we and our contribution are important to the people with and for whom we work. 5. To do meaningful work. We need to know that what our organization does matters. 6. To be on a winning team. Nothing ignites passion in all of us like the esprit de corps generated by the success of a high performance team. Are you happy at work Do you help others be happy It is the simple way to so many rewards in business and in life Steve Garber is director of Third Level Ltd. Contact him at 561.752.5505 or email him at sgarber 74 November 2014 Private Studio unique training downtown Location Why train With Bill Your Results are Guaranteed Over 30 Years of Training America s Best Custom Programs for Every Organization We Specialize in Boomers Seniors & Permanent Weight Loss 0lbs before 40 N O W 2 2 0 l b s personal training fit for you bill kyser Mind speed Reaction Training We show You How to Move Easier better Equipment Faster Results Improve in Any sport 954.533.5352 trainersince82 November 2014 75 CULTURE AND CASH BREAKING BASEL BY LINDA JANASZ Art Basel Miami is not only a major global cultural event but an economic engine Art Basel Miami brings an estimated 2 billion of economic activity to the region. What three passionate gallerists launched as a small art fair in Basel Switzerland in 1970 has spread to Hong Kong and Miami Beach. Art Basel Miami from Dec. 4-7 will draw more than 250 of the world s leading international galleries and over 75 000 art lovers. The epicenter is the Miami Beach Convention Center which will have more than 500 000 square feet of exhibition and presentation space. Films will be presented in both the convention center and the New World Symphony s SoundScape park at 500 SE 17th St. One of my goals is that we should have art in everyday life. Jessica Goldman Sbrebnick Art Basel Week can be a dizzying experience with 285 exhibitors from 34 countries the Wynwood Walls and various satellite fairs. To help you narrow your art-browsing agenda we ve compiled a list of the Top 10 Galleries at Art Basel plus a Top 5 Off the Beaten Path list which features satellite fairs and other art-related events. Many of the events are in Miami s Wynwood Art District which comes alive during Art Basel. SFBW s Art Basel report includes a profile of Jessica Goldman Srebnick CEO of Goldman Properties a company that was founded by her legendary father Tony in 1968. Peter Mahan s mural at Wynwood Walls November 2014 77 CULTURE AND CASH Art Basel is held inside the Miami Beach Convention Centers above. Wynwood Walls left has a changing array of public art in the Wynwood Art District north of downtown Miami. Top 10 Galleries at Art Basel 1. Xavier Hufkens Brussels 2. Gagosian Gallery New York London Geneva Hong Kong- Jeff Koons 3. Thomas Ammann Fine Art Zurich 4. Marian Goodman New York Paris London 5. Gemini G.E.L. LCC Los Angeles 6. Galerie Thaddaeus Ropac Paris Salzburg 7. Lisson Gallery London 8. Pace New York London 9. White Cub London Hong Kong S o Paulo 10. Bernard Jacobson London New York For the full list of the 2014 Art Basel Miami Beach exhibitors please visit en Miami-Beach ForVisitors 2014-Exhibitors. Top 5 Off the Beaten Path 1. Wynwood Walls is a collection of graffiti and street art near downtown Miami. 2. Red Dot Art Fair is a satellite fair located in the Wynwood Art District features a diverse selection of emerging mid-career and established artists. www.reddotfair. com 3. The Art of Fashion Show at The Adrienne Arsht Center is an experience that portrays the timelessness of fashion as art. www. 4. Design Miami is a global forum for collecting exhibiting discussing and creating design. www. 5. The Harper s Bazaar and ShopBazaar pop-up shop brings exclusive fashion picks and personal style consultations to Art Basel. http WG19OD 78 November 2014 Jessica Goldman Srebnick right is carrying on her father s legacy in helping promote art and transformation in the Wynnwood District. One of the relaxation areas below at last year s Art Basel. Goldman Properties helps Wynwood continue its transformation in the art real estate worlds Miami s Wynwood District is a satellite hub for Art Basel and a sensory feast and experience unto itself. This area is free and accessible for all. ... A must on your list to explore the neighborhood during the fair says Jessica Goldman Srebnick CEO of Goldman Properties a company that was founded by her legendary father Tony in 1968. As CEO of the company today Goldman Srebnick oversees the evolution and direction of Goldman Properties revitalization efforts and leads the development of companywide real estate hospitality art and design projects with a key focus on the vitality aesthetic and artistic component of all products. Her responsibilities also include the management of the company s talented team of more than 250 employees and a portfolio of assets in New York Philadelphia Miami Beach and the evolving Wynwood district. The rich mix includes hotels restaurants office buildings commercial retail and residential spaces and Wynwood Walls the highly acclaimed outdoor museum of street art. Now considered a global leader on re-imagining reconstructing and transforming declining districts into artful thriving global destinations Goldman Properties has put the Wynwood district on the global map. When we came to Wynwood in 2006 dad saw this could be the center for the creative and knew we needed a pedestrian neighborhood. This was a thriving place with street art and it needed to be curated. We curated the art and took it to the next level she says. Wynwood Walls is one of the most acclaimed street art museums in the nation curating new works by hot international artists. It is such a thrill such a joy being able to chose new murals during the week before Art Basel Goldman Srebnick says. There are a lot of artists painting walls. It is like watching these urban artists dance with a spray can being able to see them in their creative element. Wynwood has helped put Miami on the map in the global art business she says. Wynwood is like a laboratory of art the world s greatest living breathing laboratory of museum quality and up-and-coming superstars it has a bit of everything. November 2014 79 SALES STRATEGIES Follow the right steps to improve the odds of success By Greta Schulz I m often surprised about how inconsistent businesses are when it comes to hiring sales people. They may not have an organized procedure and many entrepreneurs rely on gut instinct. In the first part of a two-column series I ll share the different steps involved in an effective hiring process Identifying what an ideal candidate looks like for your organization. Searching for the candidate. Pre-qualifying the candidate. Assessing the candidate for your organization. In-person interviewing. Identifying the candidate Most organizations don t take the necessary time or energy to do this step well. If I asked you to travel from Oklahoma City to Tennessee what is the first thing that you would do You would map out a plan to get there. It is highly unlikely that you would just jump in the car take a highway that others mentioned is a good highway and if it doesn t work out after a while switch to a different one. That sounds crazy doesn t it Well that s what most of us do when it comes to qualifying candidates. If someone says that they re good or if their resume says that they have experience ... so what You need to first identify the qualities that will make this candidate successful for your company not just any organization. Have they sold high-priced products like yours before What level of decision maker do they need to be in front of to be successful at your company How long is your company s selling cycle and have they previously sold in that format There are several qualities that can be mapped out right away to identify a potential candidate or a no-deal. Searching for the candidate There are several different ways to search for the ideal candidate. A good place to start is by asking yourself this question If I found someone better then my best person tomorrow would I find a place for them in my organization If the answer is a resounding YES then why are you only looking when you need someone They make you money not cost you right Then get searching Searching for a candidate is something that should go on for owners and managers every single day. If one of your salespeople mentioned that they have enough sales right now but that they would try to fill an empty spot if they lost a client how long would it take you to fire them One nanosecond Well that s what you and your sales managers are doing when you re not prospecting for the best candidates out there every day. Whenever you meet with a colleague friend or client you should be asking them Who calls on you that impresses you so much that when they come into your office or call on the phone you always make time for them I want to meet that person. Next month I ll provide details on the final three steps Prequalifying the candidate assessing candidates and in person interviewing. Greta Schulz is president Schulz Business and Contact her at greta or 561.745.8892. 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You are giving back making things happen and standing out from the pack. South Florida Business & Wealth has created the Up & Comer Awards signature event to honor South Florida superstars and their accomplishments. If you are (or know someone who is) 39 years or younger apply or nominate them today at up. preSenting SponSor to learn more about the up & Comer awards or to submit a nomination please visit up November 2014 85 Committed To South Florida. Connected To The World. Realizing Potential Delivering Results Our commercial real estate professionals provide transaction management financing and advisory services for financial institutions and private investors. Through a disciplined process we secure stabilize and restructure operations unlocking value through recapitalization or disposition. Utilizing NAI Global s vast network of local expertise research and valuation services NAI Merin Hunter Codman offers investors global asset strategies tailored to local markets. Landlord Representation Tenant Representation Corporate Services Strategic Advisory Investment Sales Financing Property Management Construction Management Development Services Receivership & Distressed Asset Services Ofce Retail Industrial Multifamily Land West Palm Beach 561 471 8000 Boca Raton 561 394 5200 SFBW_MHCFullPgBackCover.indd 1 9 26 2014 5 18 17 PM