Bob Owens, President and CEO of the newly rebranded Owens Realty Services (formerly known as O,R&L Facility Services) is interviewed by Orlando Sentinel's Mary Shanklin - "Corporate Relocation was Good Business Move, Good Personal Move" in the June 24, 2013 issue. Fresh off the celebration of the ribbon-cutting ceremony of his new corporate headquarters building in Orlando, Owens speaks to Mary Shanklin of the Orlando Sentinel about opportunities in the marketplace.
CFB: With Orlando’s limited growth since 2007, how is it a ‘growth’ market?
Owens: “We started this company managing and liquidating assets of the banks and the FDIC during the 1990 real estate debacle. In 2009, with distress properties going back to the banks, I saw the opportunity to bring our commercial-brokerage operations to Florida, and we started buying bank-owned assets and, at the same time, we were building our brokerage business simultaneously. Even though it looks like a down market in the commercial sector, we feel that there are more opportunities in the downturn because you can buy properties at a fraction of the replacement cost. In Hannibal Square, we bought buildings that the original developer had $23 [million] to $25 million into and we bought them in distress for $10 million. Once that is fully rented, the upside is pretty dramatic.”