TUESDAY March 12, 2019
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Daily Record JACKSONVILLE
DEAL VALUATION
VanTrust named developer of the year
Daily Record MORE ‘ART THAN SCIENCE’ JACKSONVILLE
NAIOP awards honor excellence in the commercial real estate industry.
Daily Record Daily Record JACKSONVILLE
A $1.625 billion success
In 2015, The Home Depot Inc. reached an agreement to buy Jacksonville-based Interline Brands Inc. from two private equity firms for $1.625 billion in cash. Michael Grebe, former CEO of Interline Brands in Jacksonville and now an advisory director at Berkshire Partners, said that in negotiations, you want to avoid an overly long negotiation process that can kill a deal.
BY KAREN BRUNE MATHIS EDITOR
at KLH Capital in Tampa. One thing you want to avoid is an overly long negotiation process that can kill a deal, said Michael Grebe, former CEO of Interline Brands in Jacksonville and now an advisory director at Berkshire Partners. “Deal fatigue is a real factor,” Grebe said. “Be careful how many deals you have to win.” Interline, which distributes maintenance, operations and repair products, grew through a number of smaller acquisitions while Grebe was in charge before
The NAIOP Commercial Real Estate Development Association Northeast Florida Chapter presented its 2018 awards Thursday night to honor excellence in the commercial real estate industry. The event was held at the Prime Osborn Convention Center. The winners include: n Developer/Owner of the Year: VanTrust Real Estate LLC. n Office Broker of the Year: Chuck Diebel, executive director, Colliers International Northeast Florida n Industrial Broker of the Year: Guy Preston, senior director, Colliers International Northeast Florida n Office Lease/Sale of the Year: SunTrust Tower, Colliers International Northeast Florida, Chuck Diebel, executive director n Industrial Lease/Sale of the Year: Wayfair Inc., CBRE, Gary Marcy, first vice president n Construction Project less than $10 million: Fidelity Investments, Brasfield & Gorrie LLC n Construction Project more than $10 million: Town Center One, Brasfield & Gorrie LLC n Land Sale of the Year: Cordova Palms, St. Augustine, Colliers International, Northeast Florida, Guy Preston, senior director n Design of the Year: Availity LLC, Perdue Office Interiors n Developing Leader of the Year: Allison Brown, sales representative, KI
SEE DEAL, PAGE 2
SEE AWARDS, PAGE 3
JACKSONVILLE
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Experts share insights about business deals and the pitfalls that can kill them. BY MARK BASCH CONTRIBUTING WRITER
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aluing a business for a potential sale is a complex process requiring a high level of financial acumen. But financial expertise may not always be the most important asset in a successful negotiation. You also have to consider the people involved in the transaction, according to one expert in business valuation. “I’d much rather have a degree in psychology than finance. It’s more useful,” said Don Wiggins, president of Heritage Capital Group in Jacksonville, during a
panel discussion on valuation issues held Feb. 21 by the Association for Corporate Growth’s North Florida chapter. The luncheon discussion at The Riv- Grebe er Club Downtown examined valuations from a buyer’s and a seller’s viewpoint. “Looking at it from a buyer or seller’s perspective can have tremendously different values,” Wiggins said. “Valuation is always more of an art than a science,” said Josh Kuder, partner
Sale recorded for Bentley dealership property Miami-based Brickell Motors and Miami Automotive Retail bought Bonneval Road property for its Jacksonville Bentley Maserati Alfa Romeo dealership through MNAR-Real Estate Holdings LLC. The deed was executed Feb. 28 and recorded Friday with the Duval County Clerk of Courts. St. Augustinebased seller Atlantis Holdings LLLP sold the 7.5-acre site for for $2.65 million. MNAR also paid Galleria Pointe Owners Association Inc. $709,000 for another 1.5 acres.
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