Archive for the 'real estate' Category

Co-working in Orlando! Say It Loud could be your new home!

Tim WelchTim Welch, the author of the Colonial Town Community Blog, recently posted an article titled “Who’s Afraid of a Big Orange Building?” about Julio Lima’s Big Orange ‘Say It Loud‘ advertising office on Mills. Tim mentions in the article that Juio has space that could serve as a potential co-working venue as well as a larger flex space that could be utilized for functions and creative gatherings. Here is an expert.

The office space for his crew only takes up a small portion of the front. The back has been turned into a playground for photogs and currently up to 1000sqft of space is available for rent as co-working space for other creative types. He already has a few tenants: a web designer and a fashion designer. The major space hog is a large, white photo backdrop that is permanent and built for large photo shoots. Not to be selfish this too is open for rent. The other obvious idea for the place is nifty, party type functions, art shows and other creative gatherings.

Say It Loud Building Space

As a representative of Florida Creatives and the Orlando Co-working group I stopped by to chat with Julio yesterday to get an idea of what has available and what his terms for the space were. The space that is available now is essentially a 15′x25′ area between the bookshelf in the photo above and the fashion designer set up at the far end of the space.

The space is has plenty of electrical outlets, is wired for internet and has access to building wide WiFi. There is good existing lighting but the space could use some additional sourses of light. With the space comes access to a shared storage loft for larger infrequently used items and as you can see from the pictures there is an industrial open feel to the space. Julio installed a new AC system when he remodeled the back-of-house and replaced the bathroom facilities which had fallen in to disrepair under the previous owner.

Until I get the numbers and details from Julio I can’t really say whether this is a good fit financially as a co-working option but I do already see some pro’s and con’s beyond the dollars and cents.

Say It Loud LogoPros: Julio and his crew are part of a growing creative alliance taking over the ViMi district. Calling the Big Orange Builidng home puts you in the epicenter of this growth. You are also within walking distance of some good eats.

Say It Loud is a multifaceted ad agency and Julio mentioned that he has outsourced some of his Digital Media needs in the past. Being in-house may offer a potential contract job from time to time, but more importantly being in and around Julio’s outfit and the other independents would stimulate your creative energies.

If Julio has his way the Big Orange Builiding will become more about the community than just an orange edifice.

Ultimately, the idea of the new space is a micro-step in the ViMi vision he says for the area. A collective of independent souls making a living. The community spirit of the businesses he wants to inspire on the Mills strip is what he is making happen in his building

Say It Loud Logo Cons: There is perhaps only space for 2-3 web or digital media workers in the 15′x25′ area that Julio has available for rent and it is en route to the area rented by the fashion designer and would therefore be well trafficked. The three designers were pretty quiet when I toured the space, so I wouldn’t be overly concerned about their proximity.

One of the things that keeps the space from hitting the A list is the lack of a conference room or an office that could be used on occasion for serious meetings or calls that need some privacy. The reason any of us consider leaving a coffee shop in the first place is to have a venue where we can show a modicum of professionalism when presenting new projects to clients without having to compete for available table space or shouting over the barrista’s milk frothing.

While Julio and I didn’t discuss this directly I think parking might be a problem. Every space behind the building was full when I stopped by and there aren’t very many spaces to begin with. There is street side parking but you open yourself up to the liability of passing motorists.

Conclusion:

Depending on Julio’s rate this co-working opportunity may show considerable promise for a small independent 2-3 man outfit looking for space in the immediate future. The location, amidst the burgeoning creative community of the ViMi district is a winner, plus it is easy to find - just tell your client to look for the Big Orange Building. The space lacks several of the amenities that I’m looking for as the penultimate co-working facility but it may be perfect for one of the many Florida Creatives looking for a home away from home. I probably won’t post the financial particulars Julio shares with me but when he does I’ll twitter that I’ve received them or post something here and you can contact me for the skinny.

If you guys know of any other potential co-working facilities let me know and I’d be happy to check them out.

Cramer’s rant about the market woes!

In the commercial real estate market we have always paid a lot of attention to the cycles in the economy. Fortunately we learned a lot from the recession in the late 70’s - well…..I was just a kid but my Dad took the recession on the chin and he’d say the lessons he learned form that trial were invaluable. Ever since that day, and including the years that I have worked for him, we have always kept a weather eye on the mortgage rates and health of the housing market. Over a year ago we were sitting in our office discussing how the new creative financing of homes was going to make the next cyclical downturn particularly nasty. While we knew it was coming and were are well prepared and insulated, neither of us would have expected the downturn to be so precipitous.

It has been wild watching the volatility in the markets recently. It is becoming the proverbial train wreck that you just can’t turn away from. The emperor is strutting around in his birthday suit but everyone is still complementing him on his nice new threads. That is everyone except Jim Cramer. Cramer is the host of the market wrap up show called Mad Money. While my blood pressure can only take a few minutes of his pontificating at a time I do think he falls pretty close to the mark, more often than not.

Check out this YouTube clip of his recent rant about the true state of the markets. Finally someone is screaming that the Emperor is buck ass naked.