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Andelman.com Articles Archive
"PROFILE:
IRA MITLIN"
PRESIDENT,
Mitlin Properties
By Bob Andelman
(Originally published in Pinellas County Review,
Fall 1994)
Ira Mitlin has one of the sunniest dispositions of any businessman
in Pinellas County. He speaks in anecdotes, offering a story
or a quip about anyone who's anyone in St. Petersburg. He knows
them, he likes them, and they like him. More important, perhaps,
he's also one of those guys who can close a deal on personality
and a firm handshake.
All of which is important when you're not just selling property,
you're promoting a vision.
The 72-year-old president of Mitlin Properties - based in
downtown St. Petersburg, where else is there? - is an unapologetic
booster of growth in the city's central business district.
"I've been involved with everything from Pier Park to
baseball," he said. "I was an advocate of the ThunderDome."
Four years ago, he was bit by the museum bug, making him a co-founder
and leading advocate of what has become the Florida International
Museum. The museum first exhibition, "Treasures of the Czars,"
a rare collection of antiquities on loan from the Kremlin Museum,
opens on Jan. 11, 1995, and continues for six months.
"He is one of our most active board members," said
Joe Cronin, president and CEO of the museum. "He typifies
the individual who comes from another area and adopts St. Petersburg.
Always has ideas, always willing to work any way he can. He certainly
has put the sweat equity into it."
"The other people involved all wrote big checks,"
Mitlin said. "I didn't have the money to do that. But I
did have the contacts with Federated Department Stores."
As a commercial real estate man for nearly 40 years in New
York and Florida, Mitlin assumed responsibility for finding the
proposed museum a home. Downtown, naturally. "We figured
if we could have economic benefits to the downtown, we'd have
the best of both worlds," he said.
Mitlin pursued Federated, owner of the Maas Brothers store
which was once the hub of downtown retail but was shuttered in
1991. He convinced the company to make a gift of the building
to a non-profit corporation, Florida Cultural Exhibitions Inc.,
later renamed Florida International Museum.
"Ira's involvement was pretty significant," Cronin
confirmed. "He had an awful lot to do with the contracts
and negotiations with Federated. He was the only board member
who had that level of activity."
The acquisition process was slowed by asbestos removal, then
a flooding problem which blew out the building's electrical.
Those problems have long since been resolved, however, and the
museum shop will open in mid-November, ahead of the exhibition
itself.
"My feeling on this is it's going to bring a lot of people
downtown," Mitlin said. "We expect, conservatively,
half a million visitors."
This is one of two significant contributions Mitlin made to
downtown St. Petersburg's improving economic fortunes this fall.
The second was convincing Republic Bank - recently searching
for a south county site to relocate its corporate headquarters
from Clearwater - that downtown was the place to be. As usual,
he succeeded. The bank's logo was placed on The Plaza Tower during
the last week of October; more than 100 employees will fill Republic's
35,000 square feet of leased space by Veteran's Day.
"Talk about a gift!" Mitlin enthused. "This
deal will finally put The Plaza in the black!"
"We probably looked at a dozen different spots with Ira,"
said John W. Sapanski, chairman and CEO of Republic Bank. "He
doesn't hesitate to sell the benefits of downtown St. Petersburg."
When Sapanski first met Mitlin several years ago, the two
learned they were once virtually neighbors back in New York City
- with a long list of mutual friends. At the time, Sapanski headed
Dime Savings Bank and Mitlin was vice president of operations
for Broadway Management.
"Ira's an easy guy to talk to," Sapanski said. "I've
always found him to be very knowledgeable about the market, particularly
St. Petersburg. He's always plugged into what's going on. And
there aren't many charitable affairs that I go to that I don't
see Ira and Bev there."
Beverly Mitlin, Ira's wife and partner of 45 years, occupies
a unique niche at Mitlin Properties. "We have a residential
real estate division - Beverly," Mitlin said. "Every
once in a while we'll sell some commercial property to somebody
and they'll want to move down here. We used to refer it out.
I said, 'Why?' So Beverly went to school, got a real estate license.
We have no listings, however. She is a buyer's broker."
What about the future? At 72, Mitlin looks and acts 20 years
younger than his age. His only visible concession to age is a
leather recliner next to his desk, although it seems doubtful
he ever sits still long enough to recline during business hours.
He lives for the office, even calling in from a three-week Chinese
vacation in September just for fun. "I missed it. I love
the challenges of the day," he said. "Our associates
will call me in and say, 'We can't get past this point,' and
I'll say, 'Great! Let me at it!' I'm a people-person. I have
the ability to put people at ease and take some of the tension
out of the negotiating process."
But he has a staff which depends on him and his name - associate
commissions will average in the six figures this year - and he
wants their careers secured. That's why he's tentatively and
reluctantly accepting inquiries for a strong financial partner.
"The business is doing well," Mitlin said. "I'm
concerned about my staff. I feel an obligation to them. I wouldn't
want somebody to come in and change everything and let them go.
Ideally, if I could find a company that would buy a majority
interest and keep me on, that would be ideal."
Mitlin Properties
Recent Transactions
SALES
Ace Auto Parts building, 4750 118th Avenue N, Pinellas Park,
to Maxxim Medical, Inc. (107,500 SF; $2,825,000)
4370/4400 112th Terrace N, Pinellas Park, to TSE Industries Inc.
(44,000 SF; $1,300,000)
Fotomat Building, 9th Street, St. Petersburg, to Vector Properties,
Inc. (105,000 SF; $450,000)
11387-11429 53rd Street, Pinellas Park, to Stevens & Stevens
Business Records (15,500 SF; $375,000)
Molex Etc. building, Park Blvd. at 66th Street, Pinellas Park,
to North American Office Furniture Sales (30,000 SF; $300,000)
LEASES
Represented Republic Bank in lease transaction at The Plaza
Tower, downtown St. Petersburg (35,000 SF; 10 years)
Represented Bradco Supply Co. in lease transaction at 6520 34th
Street, Pinellas Park (24,000 SF; 5 years)
Leased entire floor of SouthTrust Bank Building, downtown St.
Petersburg, to Paine Webber, Inc. (13,000 SF; 10 years)
Leased retail space at Maximo Plaza, 34th Street S, St. Petersburg,
to Big Lots (30,000 SF; 5 years)
Leased retail space at Lakeview Shopping Center, 34th Street
S, St. Petersburg, to Miami Fashion District (20,000 SF; 8 years)
Leased warehouse space at 3905 W Cypress, Tampa, to E & B
Marine (11,000 SF; 10 years)
Leased Empire State Bank Building, Pasadena Avenue, St. Petersburg,
to National Medical Enterprises, Inc. (5,000 SF; 5 years)
end
end
©2001,
All rights reserved. No portion may be reproduced without the
express written permission of the author.
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