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November 30, 2015

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The Economy in 2007, Emergent Issues, Property Values, Expanding Markets

| 12/1/2006

Jim Heistand
Capital Partners Properties

2007 Company Forecast

Like many companies, we have experienced upward pressure on salaries and the associated insurance compensation policies that go with that. But, in our case, the effect has been negligible and hasn't stopped us from reaching our goals. What will have the most impact in the coming year is the dramatic increase in commercial insurance costs.

Going into 2007, the rising cost of insurance is a factor that is going to restrict our growth in Florida, and I don't know if we're going to see any abatement of those costs. We have a global property and casualty insurance policy because we have 7.5 million square feet of commercial office space not only in Florida, but also in Charlotte and Atlanta.

Diversifying and growing outside the state and into new markets where the property and casualty costs are not as high, will help us to buy more in Florida where the cost of insurance is four times as high as other areas.

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