Please put me on your mailing list. Please come see me when you are in Orlando. https://amerifirstcap.com/case-studies/ Thank you, David

Has anyone built a flex industrial building using load-bearing CMU walls instead of PEMB? I'm considering this for our next project. Most jurisdictions in my market require around 50% masonry on visible walls anyway, so it seems redundant to pay for the PEMB structure and then add masonry to the outside. PEMB lead times have gotten scary, and costs keep going up with tariffs and inflation. With CMU, you could also paint the interior walls and leave them exposed, eliminating the interior framing. My sense is the overall cost would be pretty similar, but you'd end up with a more solid building. I'm attaching a few photos of a building here in Raleigh that used this approach, although they added brick veneer over the CMU, which I'd like to avoid. Anyone have firsthand experience with this? Curious how the costs and construction timelines compared. Thanks!

Over the past several years, our team has managed a 300,000-square-foot commercial real estate portfolio for a family office in the Greater Philadelphia area. With the family office no longer focused on expanding its portfolio, a fellow team member and I decided to pursue acquisitions independently. Our focus is on acquiring small-box, shallow-bay industrial and flex properties throughout the Greater Philadelphia market. We've successfully completed our first off-market acquisition, utilizing seller financing to structure the transaction. We're now looking to build on that momentum, expand our network, and connect with other investors and operators to share ideas, learn from their experiences, and identify new opportunities. Looking forward to connecting with people in this community.

Florida Amendment 3 proposes a significant change to Florida's property tax structure, expanding the homestead exemption while reducing the annual assessment cap on non-homesteaded properties from 10% to 5%. What does it mean for Homesteaded Homeowners? Using an illustrative statewide average non-school millage rate of 10.5 mills, a qualifying homeowner could realize approximately: - 2027: $1,035 in annual tax savings with a $150,000 exemption - 2028: $2,085 in annual tax savings with a $250,000 exemption - Two-year cumulative savings: $3,120. The additional exemption does not apply to school district property taxes. What does it mean for Local Governments? Statewide estimates project: - 2027–2028: $4.95 billion in reduced local government revenue. - 2028–2029: $8.78 billion in reduced revenue. - Fully implemented: Approximately $11.86 billion in annual revenue reductions. What about Commercial Real Estate and Investment Properties? Non-homesteaded properties do not receive the expanded homestead exemption. Instead, their annual assessed-value growth cap would decrease from 10% to 5%. Potential benefits include slower assessed-value increases and greater predictability for property owners. However, lower assessment growth does not necessarily mean lower property tax bills. The Potential Hidden Cost Local governments still have to fund essential services, including public safety, fire and rescue, roads, infrastructure, and municipal and county operations. To offset lost property tax revenue, jurisdictions could consider: - Higher millage rates: Increasing property tax rates on the remaining taxable property base, subject to applicable statutory and voter-approval requirements. - Additional fees: Increasing building permit fees, impact fees, utility charges, stormwater fees, and other service-related assessments where legally authorized. - Reduced services: Cutting budgets, delaying infrastructure improvements, or reducing public services. - Alternative revenue sources: Exploring other taxes, assessments, and charges to replace lost revenue.

I'm a little late joining the conversation here, especially since I've had the pleasure of knowing and working directly with many of you in the self-storage industry for years! This looks like a great forum and resource, and I'm looking forward to connecting with both familiar faces and new ones. For those I haven't met, I'm with EDC, a mid-sized national general contractor headquartered in Richmond, Virginia. We build throughout the Eastern United States, with a strong focus on self-storage, small bay/flex, warehouse, and logistics facilities. I lead our construction programs in these sectors and enjoy working with owners, developers, and industry partners from the early planning stages through project completion. I'd also like to offer EDC as a resource to this group. Whether you have questions about construction costs, need preliminary budgeting assistance, want to explore value engineering opportunities, or simply want to bounce around ideas on a potential development, we're always happy to help. Those of you who already know me know that I'm easy to reach and always willing to have a conversation. Feel free to call, text, or email anytime. I'm looking forward to contributing to the forum, sharing ideas, and learning from everyone here. Please reach out and introduce yourself. I'd love to hear what you're working on! Martin Blum, CCIM Senior Business Development Manager | Shareholder EDC 1660 Huguenot Road, Midlothian, VA 23113 Mobile: 804.461.5613 Email: [email protected]