In early 2013, Applicant Insight – a background screening and substance abuse testing company – was preparing to move out of Pasco County in 2014, due to a lack of available office space in that market to suit its needs.
When the property at 5652 Meadowlane Street became available in New Port Richey last summer, Heidi Tuttle-Beisner of CAP Realty and officials from the Pasco Economic Development Council, Inc., City of New Port Richey, New Port Richey Police Department and Pasco County School Board collaborated in an effort to keep Applicant Insight and its jobs in the area.
“This is a textbook example of how economic development is supposed to work: city, county, utility and business team members working together to retain a company and help it grow,” said John Hagen, President/CEO of the Pasco EDC.
In the lease transaction, Tuttle-Beisner represented the landlord, Doyle Farm Family Limited Partnership. Todd Brandon and Grant Goodwiller of DTZ represented the tenant.
“When Community Hospital moved out of New Port Richey, it changed everything,” said Tuttle-Beisner. “That real estate market had largely been built around the medical community. The property on Meadowlane Street had been a surgery center, so Applicant Insight had to visualize the space with substantial changes. The large amount of space, the willingness of the landlord to build out the building and its close proximity to their current location made it the perfect choice for their new office.”
Construction has already begun.
To show its commitment and encourage Applicant Insight to stay in the city, New Port Richey officials also agreed to make improvements around the building. This includes repairing defective areas in the road, working with Duke Energy to install necessary street lighting and trim trees, and other initiatives. The Police Department also committed to initiating programs to ensure the safety of employees and the property.
The average annual salary of Applicant Insight's 109 employees is 125 percent of Pasco County’s median wage.
“Securing a new space in New Port Richey was an integral component to our plans for growth and expansion in 2014," said Bon Idziak, CEO of Applicant Insight, Inc. "We are thrilled by the level of support from the City of New Port Richey and Pasco County in their efforts to keep us local.”
About Commercial Asset Partners Realty: One of the top mid-sized commercial real estate companies in the Tampa Bay area, CAP Realty handles leasing and sales of retail, office and industrial properties, along with helping clients with real estate investment sales and land transactions. Based in Trinity, Fla., Broker-Owner Heidi Tuttle-Beisner and her team have built a company that has the experience and resources to handle a wide range of assignments, while offering a high level of personal service for each client. For more information, see the company’s website at www.cap-realty.com