Apr 18, 2017 - 0 Comments - Top Stories -

Miami Commercial Real Estate News April 18, 2017: Rents Decrease; Whole Foods Anchored Center Coming to South of Miami; More…

Whole Foods-anchored retail center coming to U.S. 1 corridor south of Miami

Regency Centers Corporation announced plans to build a 70,000-square-foot retail center just south of Miami anchored by a Whole Foods Market grocery store. Jacksonville-based Regency will build the retail center, called Pinecrest Place, next to an existing 173,000-square-foot Target department store off U.S. 1. Regency expects to complete construction of the $16.4 million Pinecrest Place project in the second quarter of 2018. “Pinecrest Place is an ideal blend of best-in-quality anchors with substantial parking, and visibility…

‘The dominoes are starting to fall’: Retailers are going bankrupt at a staggering rate

Retailers are filing for bankruptcy at an alarming rate that’s quickly approaching recessionary levels. It’s only April, and nine retailers have already filed for bankruptcy since the start of the year — as many as all of last year. “2017 will be the year of retail bankruptcies,” Corali Lopez-Castro, a bankruptcy lawyer, told Business Insider after she attended a recent distressed-investing conference in Palm Beach, Florida. “Retailers are running out of cash, and the dominoes are starting to fall.” Payless ShoeSource, hhgregg, The Limited…

Could Trump’s Trade Policies Ripple Through Miami’s Industrial Real Estate?

President Trump’s intentions to curb America’s trade deficits by beefing up US exports and curbing imports drive could drive policy changes that trickle down to industrial markets around the nation, according to a new Cushman & Wakefield report. “President Trump says he believes in ‘free trade but also fair trade,’ and as policy details emerge, companies will start looking at their supply chain networks to determine the impact on operating costs,” says Jason Tolliver, head of Industrial Research, Americas at CushWake.

Miami rents decreased by 5% in the last year, per report

For one-bedrooms and two-bedrooms Miami, Miami Beach, and Boca Raton are the three most expensive areas to rent in Zumper’s latest Miami metro report, which looked at over 56,000 active listings in March across 18 areas throughout South Florida. There is good news for renters in two of those areas, however. Prices are down in Miami and Miami Beach, by 5.3 percent and 10.5 percent, respectively, year over year for one-bedroom units. While Homestead was the most affordable city to rent in, it…

A new vision for Wynwood will make your eyes pop

Entrepreneur Moishe Mana has unveiled new eye-popping animated renderings of his massive Wynwood redevelopment as he drums up investment and international interest in his plan for a trade center linking Latin America with China and other parts of Asia. The conceptual images, by far the most detailed Mana and his architects have issued, depict a dense cluster of irregularly spaced towers that would house offices, showrooms, hotels and a conference facility on the western portion of his extensive Wynwood holdings.

Airbnb sues the city of Miami for going after hosts, enacting short-term rental rules

After threatening to crack down on Miami Airbnb hosts who spoke up at a city commission meeting, the home-sharing platform is fighting back — with a lawsuit. In a suit filed Friday afternoon in Miami-Dade County circuit court, Airbnb claims the city of Miami is both violating the First Amendment rights of the hosts it is pursuing and flouting a state law that prohibits municipalities from enacting regulations post-2011 to further limit short-term rentals in private homes. On March 23, dozens of Airbnb hosts packed into…

UF/IFAS scientists find Zika RNA in a second mosquito species

A University of Florida Institute of Food and Agricultural Sciences molecular biologist has found Zika RNA in a type of mosquito not often associated with the virus. UF/IFAS entomology associate professor Chelsea Smartt led a research team that found Zika RNA in Aedes albopictus. That’s not the species — known as Aedes aegypti — most often associated with Zika. But scientists have never discounted Aedes albopictus as another possible carrier of the potentially deadly virus. Brazil has the highest number of reported…

Leaked docs show hotel industry’s role in anti-Airbnb laws

Newly leaked documents show how the hotel industry systematically pushed for anti-Airbnb legislation last year and worked to sway public opinion against the short-term room rental website. In early 2016, trade group American Hotel and Lodging Association launched a “multipronged, national campaign approach at the local, state and federal level,” focusing on major cities like New York…

Walnut Street Capital flips commercial property near Miami Design District

Walnut Street Capital just flipped two commercial properties near the Miami Design District for more than double the price the firm paid two years ago, clearing it a cool $1 million.
Fort Lauderdale-based Walnut Street sold the adjacent properties at 185 Northwest 45th Street and 4501 Northwest Second Avenue for $2.05 million, after buying the sites for $800,000 in April 2015. In the interim, the firm paid more than…

Video: United States Restaurant Trends 2017

Robin and Eric Gagnon, Chief Marketing Office and President, respectively, of We Sell Restaurants, join The Commercial Real Estate Show in Studio One to discuss various performance and trends in the United States restaurant sector, which affects retail properties. Highlights include: Escalators in excess of revenue growth can be problematic; Seven in ten restaurants are owned by single unit operators; Minimum wage laws can be a death blow to restaurants owners; Legal environment an issues as…

Video: Managing Director of the Center for Realtor Technology Highlights Building Technology Resources

Chad Curry, Managing Director at the Center for Realtor® Technology, joins The Commercial Real Estate Show to discuss building technology  resources for commercial buildings. Highlights of this video include: The Array of Things, a micro-climate monitoring system out of Chicago; Various online resources for commercial space technology; CRTlabs.org; FastCoDesign.com; FastCoLabs; TheNextWeb; ReadWrite; CityLab. CRT Labs is a research group that is operated by the National Association…

Additional Opportunity for Increased Extension of Building Permits and Development Orders

Interested parties must notify issuing governmental agency by September 7th to receive a new extension. Due to Governor Scott’s recent expansion of the State of Emergency issued for the Zika Virus, holders of permits and development orders have another opportunity to toll the period remaining to exercise rights under the permit or order for nearly 18 months. Section 252.363 of the Florida Statutes permits a tolling of development orders and permits upon the declaration of a state of emergency…

Secretary Ben Carson Kicks Off Public Housing P3

Yesterday, Miami-Dade County hosted Dr. Ben Carson, the Secretary of the United States Department of Housing and Urban Development, at the Liberty Square public-housing development, one of the oldest in the nation.  The meeting formally commenced an exciting public-private partnership for the complete redevelopment of Liberty Square.  The project will be transformative for the community and a model for new public-housing projects throughout the country, and we have been fortunate to have been …

Miami On The ‘Leading Edge’ Of New Movements In Retail Real Estate

Food halls, entertainment options, going-out-of-business sales are some of the latest developments in South Florida retail real estate.

Check It Out: The View From The Top Of Florida’s Tallest Building

Developer Tibor Hollo’s Florida East Coast Realty is celebrating the topping-off of its 830-foot luxury rental tower at 1101 Brickell Ave.. The ceremony is a customary way for builders to commemorate the completion of the top floor of a new structure. At 85 stories, Panorama Tower will be the tallest building in Florida and the tallest residential building south of Manhattan, according to the developer. The tower will house 821 apartments, ranging in size from one to three bedrooms and starting at 1,135 square feet., along with a sick array…

Airbnb and five homeowners sue city of Miami over vacation rental crackdown

Airbnb is teaming up with five Miami homeowners to take on city government and Mayor Tomas Regalado. The tech company, along with Yamile Bell, Toya Bowles, Gary Levin, Ana Rubio and Kenneth Tobin, sued the city on Friday to stop Miami officials from enforcing bans on short-term rentals and for targeting Airbnb hosts who publicly identified themselves.  An Airbnb spokesperson declined comment and The Real Deal was unable to reach Regalado or Miami City Manager Daniel Alfonso, both of whom were not…

As sea levels rise in Miami Beach, raising homes and buildings may be next

For some property owners in Miami Beach, raising their homes and buildings may be the only solution to dealing with rising seas. Miami Beach officials say that as the city raises its streets, they expect more homeowners and building owners to look seriously at raising their structures – many of which will be lower than streets and sidewalks on their property line. “We have to adapt these buildings before the water gets here, because otherwise it will be too expensive to keep them, so we have to adapt them or let go of them and build…

Print Friendly, PDF & Email