All avenues to redevelop on a value-added basis, rebrand, reconfigure and reposition the asset are explored to maximum occupancy, build value and wealth.

The acquisition criteria for Charles A. Von Stein, Inc. is to find underutilized properties where the full potential of the important attributes of the commercial property to the commercial tenant base can be fully realized through thoughtful value engineered renovation, consumer-oriented management practices, and aggressive marketing to lease up the property post renovation.

The primary criteria used to select and find properties and are important in providing a foundation for success are as follows:

• Price per square foot of $65.00 per square foot or below (Adjusted for special location factors like waterfront properties, adjacent to major attractive elements in the community or submarket)
• No major functional obsolescence (Functional obsolescence is a reduction in the usefulness or desirability of an object because of an outdated design feature.  Functional obsolescence can be further broken down into curable and incurable obsolescence. Curable obsolescence is a deficiency of an asset that can be remedied through addition or modernization. Incurable functional obsolescence is a defect that either cannot be cured or is not financiallypractical to cure.)
• Located on or directly adjacent to a major road
• Undermanaged and/or under leased property offering potential for appreciation

Secondary but not as important criteria

• Multi-tenant buildings/complexes offering the ability to have multiple sources of income from multiple tenant to pay bills
• Ideally some income in place to create a built-in return before renovation

These variables are adjusted periodically to account for changes in economic conditions and consumer preferences. Strong compelling in any of these areas can override deficiencies in other areas but in general these criteria are a standard that is not deviated from. The actual criteria are much more detailed, but this is the core tenets of such.

The acquisition criteria for Charles A. Von Stein, Inc. is to find underutilized properties where the full potential of the important attributes of the commercial property to the commercial tenant base can be fully realized through thoughtful value engineered renovation, consumer-oriented management practices, and aggressive marketing to lease up the property post renovation. There is an additional dividend from this approach as well, facilitating a healthier planet.

How many times do you drive through a section of a piece of Florida and see blight, underutilized, undermanaged, and neglected properties with a feeling of can’t we as human beings do better? Yes we can as people and as business people not only help the environment by utilizing existing properties more efficiently but this can be profitable as investors as well. Being a good citizen can be good business. If a property is fundamentally sound as to its characteristics as to visibility, parking, location and basic design, all that may be needed to make this property stand out is a face lift that when creatively designed will create more value than the underlying cost. Contributing to the greater good and making lots of money doing it is a win win transaction at all levels. The firm focuses on these types of property acquisitions as a means to generate profit, appreciation and wealth for its clients. However, a dividend of such is improving the communities and planet on which we live.

Many client relationships are intergenerational where the company has served three generations of clients and the relationship has continued forward through each generation. Word of mouth has been the greatest form of advertising for the company where one client recounts the positive investment, tenant/landlord, purchasing experience, etc. to another and the foundation is established for a new positive business relationship.

The company commenced operations in the early 1960’s in Broward County and grew and thrived. In early 2000 the company relocated to the Treasure Coast and Space Coast of Florida to pursue the many opportunities in this growing part of Florida. The client base followed the company to this region of the State and many new clients have joined in new ventures that have been undertaken in these submarkets.

Charles A. Von Stein, Inc. represents a strong concentration of properties in the Space Coast and Treasure Coast markets and as such has a market awareness, knowledge and presence that create opportunity. The volume of activity associated with the firm also creates opportunities to match a requirement with a property. As such, when one property does not match a tenant’s needs the company represents or can find another property that is compatible with this requirement.

Charles A. Von Stein, Inc. specializes in turning around underperforming commercial properties, finding and pursuing the uncaptured and unpursued potential each property has within it. The company has a long resume of properties that have been taken from the bottom to the top of their respective market and maximizing the value and cash flow of all types of commercial properties.

The firm has over 60 commercial properties under management with a growing base of clients. The success of investment is the driving force behind the growth of the client base. The company has grown through referrals from existing tenants, clients and investors to new tenants, clients and investors. The strong track record of the company to produce value, cash flow and wealth for its investors and clients has brought many repeat and new clients to the company.

Through the three generations associated with this family owned and managed company the interests of the client have been put first. The fundamentals of ethics as embodied by the Realtor Code of Ethics are embraced by the company including the basic concepts of transparency, truthful disclosure and clear and accurate representation of pertinent facts to the client. The company attempts to embody the primary tenets of the “Golden Rule” with its clients, tenants, contractors and vendors.

The company has assembled a group of experienced and educated people to extract the best out of the properties it manages, leases and transforms. There are six decades of commercial real estate experience and expertise associated with the company that have and can be used to achieve the highest and best use of all properties the company manages. Analytical skills, financial skills, management skills, marketing skills, business skills, creativity, market knowledge, risk management, fundamental property maintenance protocols, proactive renovation and repairs, collections expertise, accounting experience, knowledge of the laws of business and the tenant landlord relationship, and accounting are brought together to create a positive business environment and financial result for the clients.