Annual Update from Saglo
Since it has been an active year and I send these emails just once or twice annually, I’ll limit our new news at Saglo to 5 items.
- I have been promoted to President of Saglo Development after serving as its Vice President since 2012. I plan to increase the Saglo owned portfolio of properties to 3 million square feet from 1 million square feet over the next 5 years through carefully purchasing shopping centers at prices that allow us to generate returns which properly account for the risk level of each asset.
- How effective your Leasing strategy is, determines the degree of value creation or loss at your properties. Based on this fundamental principle, we continually adapt and evolve our leasing methods in order to produce better and faster results. My goal is to achieve 100% occupancy with quality tenants at all of our Saglo owned and 3rd party client owned shopping centers.
- Saglo has entered the North Florida market with its acquisition of Beauclerc Village, a 68,846 SF shopping center located in the Mandarin sub-market of Jacksonville.
- Kimco has selected Saglo Realty to add-value via leasing to Cypress Creek Station, a 229,034 SF shopping center located in Ft Lauderdale, Florida anchored by Regal Cinemas, LA Fitness, Office Depot, Concentra, and Champps Kitchen + Bar.
- Over the last 4 months Saglo has obtained $64 MM of debt for 7 of our properties using 5 different lenders via a separate loan for each asset. We are well capitalized and ready to buy shopping centers!
I will be driving from Jacksonville to Tampa next week in order to check on our properties, if you are selling any shopping centers along that route, please let me know.
I believe that a successful deal is when both sides come out winners. In leasing that means when tenants generate strong sales volumes, the Landlord’s rental income stream is very secure. Saglo matches expanding retailers and restaurants to our available spaces by assessing the needs of each potential tenant and seeing if any of our properties have the attributes that fulfill these needs. Hopefully there is a good match, but in the event there isn’t we are happy to refer them to another property that is a better fit. Please let me know if you are looking for retail or restaurant space in South Florida, Greater Tampa or Jacksonville. We have 400 SF to 98,000 SF available.
I end with a quote: “Enjoy the little things in life because one day you’ll look back and realize they were the big things.”