January 2016 • HawkinsCRE

Miami Commercial Property News January 28, 2016: Design District Shopping Center Sells for $18 Million; More…

Jan 28, 2016 - Top Stories - 0 Comments - Standard

Design District Shopping Center Sells for $18M A joint venture between TriStar Capital LLC and Principal Real Estate Investors sold the retail shopping center located at 3946 N. Miami Ave. in Miami, FL for $18.7 million, or approximately $1,500 per square foot, to L3 Capital LLC.  The 12,292-square-foot asset is located within the Miami Design… […]

Cap Rate for Miami-Dade Retail Property Remains Just Under 6%

Jan 27, 2016 - Analysis - 0 Comments - Standard

The capitalization rate (cap rate) for retail properties in Miami-Dade County that are 5,000 square feet or larger (4,855 properties), as reported by Costar, remained under 6% in the most recent period, as can be seen in the accompanying chart.  This represents a significant decline from five years prior, when cap rates for such retail […]

Miami Commercial Real Estate News January 26, 2016: $2 Billion Tunnel for Downtown Miami Being Evaluated; Regus Inks Lease on Miami Beach; More…

Jan 26, 2016 - Top Stories - 0 Comments - Standard

Check Out Chad Oppenheim’s Flashy Proposal for a MDC Development in Downtown Miami Four developers are bidding for the right to build a project off a public-private partnership with Miami Dade College in Downtown Miami at 520 Biscayne Boulevard. The 2.6-acre site sits just south of the Freedom Tower, and is currently used as a […]

Upcoming February 4th Webinar: Real Estate Expectations And Market Realities 2016

Jan 22, 2016 - Analysis - 0 Comments - Standard

The National Association of REALTORS (NAR) together with Deloitte and Situs RERC will once soon release an annual commercial real estate market outlook for the year. The report, Expectations And Market Realities 2016, will assemble a wealth of research and data from a large set of data providers, respondents to surveys, economists, analysts, reviewers, business associates and colleagues. Related […]

Miami-Dade Unemployment Rate Furthers its Decline

Jan 22, 2016 - Analysis - 0 Comments - Standard

The unemployment rate in Miami-Dade County As can be appreciated in the accompanying chart (Unemployment Rate in Miami-Dade County, FL November 1, 2005 to November 1, 2015), this rate has not been significantly lower since 2008, and is about half the peak level reached around 2010. This low unemployment level bodes well for commercial real […]

Miami Commercial Real Estate News January 21, 2016: Feds Target All Cash Foreign Buyers of Real Estate; Downtown Whole Foods Trades for $20 Million; More…

Jan 21, 2016 - Top Stories - 0 Comments - Standard

In-Flight Retailer Renews 194,000 SF Aventura Lease Jonathan Kingsley, Stephen Rutchik, and Ryan Goggins of Colliers International South Florida represented the landlord in the deal. Edens Investment Trust Pays $20 Million For Downtown Miami Whole Foods Market The 41,000-square-foot store is in the Met 3 building. Report: Foreigners Spent $6B on Miami Real Estate in […]

Profile: Alta Developers

Jan 19, 2016 - Profiles - 0 Comments - Standard

Alta Developers is a Miami based real estate joint venture development firm.  Its members have been involved in a number of the more notable additions to the Miami area real estate landscape, with current projects including One Paraiso, Le Parc at Brickell, Baltus House, Neovita, The Mile and numerous past projects such as 900 Biscayne, Metropolis at Dadeland, […]

Miami Commercial Real Estate News January 19, 2016: Miami Redevelopment Site Sells for $22 Million; More…

Jan 19, 2016 - Top Stories - 0 Comments - Standard

Ten Year Lease Negotiated for Massage Envy Spa To date, Josh Rodstein and Brandon Weiss have completed more than 50 transactions for Massage Envy throughout the state of Florida. Miller Construction Company Completes Liberty Property Trust’s 140,685 SF Metrorail Train Assembly Facility The railcar contractor for Miami-Dade County is slated to manufacture and assemble 136 […]

Federal Reserve Releases Beige Book – District 6 Comments Relevant to Miami Commercial Real Estate

Jan 17, 2016 - Observations - 0 Comments - Standard

The Federal Reserve has released its Beige Book Summary of Commentary on Current Economic Conditions by Federal Reserve District.  A number of comments for district 6, which Florida and thus Miami is a part of, relative to commercial property or real estate in general were included: Residential real estate brokers and builders noted mixed sales activity […]

Interest Rates 2015: U.S. Treasury Yield Curve Slightly Higher vs. Year Prior

Jan 15, 2016 - Analysis - 0 Comments - Standard

The U.S. Treasury yield curve has shifted up slightly in the past year, as can be seen in the accompanying chart.  Rates, albeit still low, are about 25 to 50 basis points higher at every maturity versus their level about a year ago. The consensus among prognosticators of late has been that rates will edge […]

Miami Commercial Property News January 14, 2016: Miami Beach Firestone May Change; FinCEN Release Takes Aim at Miami Real Estate Secrecy; More…

Jan 14, 2016 - Top Stories - 0 Comments - Standard

Miami Beach Firestone May Morph to Mixed Use “Opportunities to redevelop hard corner sites with extraordinary exposure in Miami Beach are extremely rare.” U.S. Boosts Scrutiny of N.Y., Miami Cash Real Estate Deals President Barack Obama’s administration, citing concern about the origin of funds used for all-cash purchases of luxury real estate, said it is […]

Miami Commercial Real Estate News January 12, 2016: On the Race to Build Miami’s Tallest Building; Miami Rents Decrease in December; More…

Jan 12, 2016 - Top Stories - 0 Comments - Standard

Race To Build Miami’s Tallest Building Heats Up As Tibor Hollo Plans 1,044 Foot Tower Hollo isn’t the only developer in the super-tall skyscraper game, though. Record Participation As MIAMI Realtors Meet With Legislators In Tallahassee The association’s participants will address four major legislative issues in Tallahassee. Wynwood Art Gallery Trades For $723 PSF The […]

Yield Curve Quarterly Snapshot – 2015 Q4

Jan 11, 2016 - Economy - 0 Comments - Standard

At the end of the 4th quarter of 2015, U.S. Treasury yields, on a nominal basis, were slightly higher in all maturities, ranging from around 10 basis points to about 40 basis points.  On a real basis, yields were only a touch higher, as the increase in nominal yields was offset by a slightly more […]

Miami Commercial Property News January 7, 2016: Apartment Community Brokered for $120 Million; Vista Lago Sells for $17.7 Million; More…

Jan 07, 2016 - Top Stories - 0 Comments - Standard

CBRE Brokers $120 Million Sale Of New Lux Apartment Community The residential asset consists of 353 units in two mid-rise buildings and a mix of 134 two- and three-bedroom townhomes. Suffolk Construction Completes Concrete Pour on First MiamiCentral Office Tower Suffolk Construction has officially broken ground on the first of three office towers that will […]