Clearwater-based Master Restoration recently purchased a 30,000-square-foot warehouse and office building at 17129 U.S. Hwy 19 in Clearwater for $2.2 million. American Momentum Bank provided Master Restoration a $2.5 million loan for the property purchase and renovation expenses.
Master Restoration, which provides complete loss management and restoration services to residential and commercial properties in Florida and hurricane-related restoration services throughout the Southeast, currently leases a 7,500-square-foot space in Clearwater.
“This new building is significantly larger,” said Master Restoration President and CEO Jarrett Dixon, who founded the company in 2009. “It will give us room to grow and the ability to help a lot more people.”
Master Restoration currently employs 55 permanent fulltime employees, as well as around 70 temporary employees who are providing services in the Florida panhandle following Hurricane Michael. Dixon aims to hire an additional 25 fulltime staff members over the next year.
“This new location gives us a base point to grow out from so we can have more satellite offices throughout the state, and start the process of opening other locations,” said Dixon.
The larger building will also allow Master Restoration to add a showroom with cabinets and flooring that customers can see prior to renovations on commercial and residential properties. And, Master Restoration will add a state-of-the-art training facility, where staff as well as outside adjusters, agents and property managers can be trained on various restoration services.
“We’re very proud to support Master Restoration, a company that puts serving people at the center of its mission statement,” said Aaron Sherwood, Senior Vice President/Commercial Relationship Manager at American Momentum Bank. “We saw them jump at the chance to meet a dire need in the panhandle after Hurricane Michael, and we know they do so much more.”
Master Restoration runs a nonprofit called Project R.A.I.N., which provides restoration services for all who are in need, even those who can’t afford it. The company also provides support to other nonprofits.
“Our whole mission is to be a servant leader to our community, and if it weren’t for American Momentum, we wouldn’t be able to pour back into the community like we plan to,” said Dixon. “This expansion is going to create jobs. We can help more nonprofits. American Momentum’s support really opens a lot of doors for us.”
Dixon hopes to move Master Restoration into the new building by the end of the year, following the completion of renovations.
About American Momentum Bank
American Momentum Bank, with total assets of $1.1 billion as of Sept. 30, 2018, provides comprehensive products and services for businesses and individuals. The bank has 10 full-service banking centers in Florida, including in Tampa, Clearwater, St. Petersburg, Sarasota, Naples, Orlando and Winter Garden, as well as a deposit production office in Ft. Myers. It also has three full-service Texas banking centers in Bryan/College Station and a loan production office in Dallas. American Momentum’s strong capitalization, superior asset quality and experienced management teams position it as one of the premier banks in each state. www.americanmomentum.bank