Listen to this articleWe sat down with Tyler Saldutti, the Founder and CEO of Prime Realty to learn more about the company and its plans. Tyler is originally from Chatham, NJ, graduated from Babson College in Wellesley, MA, and works out of the company’s headquarters in Jacksonville, FL.
Q: Could you provide our readers with a brief introduction to Prime Realty?
A: Prime Realty was founded in October 2008 with a singular goal to provide commercial real estate property owners the leasing and property management services they needed to maximize their return on investment. Focusing on achieving high yields and quick results, Prime Realty has been able to sell properties at higher prices then other firms.
Q: You’ve recently sold foreclosed property from 2009 for triple the value; could you tell us something more?
A: Many of the properties that suffered during the last economic slowdown fell into foreclosure and were sold as distressed assets. Plaza 295 was one of these properties. Prime Realty was brought in as the property manager and leasing team to reposition and stabilize the center. “For those property owners who made it through the great recession now is the time to harvest the value created through leasing and filling vacancies”, says Prime Realty’s Eric Bumgarner. Plaza 295 tripled in value during this volatile timeframe and Prime was able to sell the property for a tremendous gain.
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Q: What kinds of services do you provide to your clients?
A: We help commercial property owners maximize their gains with our property management, re-development and marketing services.
Q: Who are your clients and what markets are you targeting?
A: Our clients are high net worth individuals and families. We service four different property types; including, multi family, office, retail and industrial properties.
Q: What are your plans for the future?
A: We are currently licensed in Florida and Georgia and look to expand our service offerings nationwide. Our goal is to be recognized as one of the top independent boutique commercial real estate firms in the country.
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Q: What is the greatest opportunity see in the commercial real estate investment market right now?
A: Now is the time to sell and reinvest into a higher quality property. We call this a flight to quality.
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