Video: Chad Curry of The Center for REALTOR Technology Labs Discusses Emerging Technologies to Enhance the Enviroment of Commercial Properties

Chad Curry, Managing Director at the Center for Realtor® Technology, joins The Commercial Real Estate Show to discuss his organization.  Some highlights of this video include:

  • What the Center for Realtor® Technology (CRT Labs) does
  • How the Center for Realtor® Technology got started
  • The Internet of Things (IoT) and implications for commercial real estate
  • Air quality tracking devices (nitrous oxide, particular matter, dust)
  • How such technology is evolving
    • More centralized
    • Scalable networks
    • Advantages of encrypted radio frequency for devices
  • Productivity benefits of enhanced work environments
  • Comparing the new WELL building certification vs LEED certification

CRT Labs is a research group that is operated by the National Association of Realtors’® Center for REALTOR® Technology. The primary goals of CRT are to track emerging technologies that are anticipated to affect real estate, to educate its members, to advocate for the proper use of technology, and to innovate when there appears to be a gap between what is needed and what is available.

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April 5, 2017

Buyer Seeks Building for School or Land Upon Which to Build

A buyer is seeking property for a private school in Miami, FL. The property can be up to 200,000 square feet under AC plus some green areas. Although it may be anywhere unincorporated Miami-Dade county, it preferably will be in the southwest Miami Area. The propery might currently be in use or has previously been in use as a church, hospital, or office building. Might also be 4-6 acres of assembled land.

If you have a property that meets this requirement, send an email or call.

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April 4, 2017

Miami Commercial Real Estate News April 4, 2017: Brickell City Centre Among Most Expensive Developments in American History; More…

At a cool $1.05 billion, Brickell City Centre makes Business Insider list of 8 most expensive real estate developments in American history

Located in Miami’s financial district, the Brickell City Centre cost approximately $1.05 billion to build from 2014 to late 2016. The mega-development spans five blocks and consists of shops, a movie theater, restaurants, office towers, and condos.

Building up Brickell: the latest development wave, what’s ahead

Back in the 1870s, Brickell was hardly more than a trading post run by the Brickell family. Today, it’s one of Miami-Dade County’s most intensely developed neighborhoods, boasting some of the tallest buildings in Florida. More than 10,000 apartments and condos were built, under construction, or proposed in the 1.2-square-mile Brickell neighborhood in 2016 alone, according to the latest figures from the Miami Downtown Development Authority. In addition to new residences, plenty of new hotels, offices and retail projects have…

How the Brightline train will transform the Sunshine State — and its real estate

All Aboard Florida’s Brightline train service between Miami and West Palm Beach, scheduled to begin this summer, has the potential to be transformational for South Florida, local real estate experts agree. “This will change the way travel and development and redevelopment occur in South Florida,” said Rick Gonzalez, president of REG Architects in West Palm Beach. “You can now work in downtown Miami and live in Fort Lauderdale or West Palm Beach.” Brightline, which has been under construction for almost three years…

There’s No Affordable Housing in Miami Because Developers Block It, Study Says

Florida lawmakers have, over the past ten years, quietly siphoned $1.3 billion away from a $1.8 billion, statewide fund for affordable housing, the Miami Herald/Tampa Bay Times Tallahassee Bureau reported Friday. Asked whether this is a problem, Miami Republican state Rep. Carlos Trujillo basically flipped his hometown — which is trapped in an unprecedented affordability crisis — the bird. “Housing is definitely a problem, but the issue is we aren’t going to just throw more affordable housing into South Florida,” he…

Chile a steady, growing factor in Miami real estate

Over the past decade, as South American investment in Miami real estate has flowed and ebbed dramatically, Chile’s impact has been comparable to the Miami Dolphins in the NFL: good enough to be mentioned, but not enough to outshine the influence of neighbors like Brazil, Argentina or Venezuela. However, just like the Dolphins team from last season, Chile has taken big steps forward over the past few years, earning much-deserved respect and attention in this unique market. Last October’s inaugural Chile Week USA…

Miamians spend up to 58% of income on rent in minority neighborhoods: report

In Miami, residents can expect to spend more of their paychecks on rent if they live in a mostly black or Hispanic neighborhood than if they live in a predominantly white neighborhood, according to a new report. The share of income needed to pay rent in black communities in Miami is 58.2 percent, higher than the national average of 43.7 percent. In Miami’s predominantly Hispanic neighborhoods, it’s 55.1 percent, also higher than the national average of 48.1 percent. In Miami’s white neighborhoods, residents…

U.S. rental market hits resistance in first quarter

The U.S. multifamily market reportedly took a beating in the first three months of 2017, with rents falling in a slew of major metropolitan areas nationwide amid a jump in supply.
The Wall Street Journal reported that rents either stagnated or fell in 28 of 79 metros studied in the first quarter by real estate research firm Reis, most notably in the nation’s priciest rental markets: New York City and San Francisco, which saw dips of 0.6 percent and 1.3 percent, respectively. Overall rent growth for the country was also declining…

One Of China’s Largest Logistics Firms Sets Up Shop At Beacon Centre Business Park

One of the largest logistics firms in China, Apex Global Logistics’ new office will help it ship products to and from South America.

Commercial real estate is the surprising winner from the ‘Trumpcare’ debacle

When the effort in Congress to pass a health-care bill – the American Health Care Act, designed to replace the much maligned Affordable Care Act – failed on Friday, the thing that wasn’t supposed to happen happened: The industry that had whined for years about this, that, and the other in the Obamacare law, breathed a huge sigh of relief. On Monday, despite the general unease in the stock market, heath care stocks rallied. Well, they didn’t exactly rally, they edged up. But it made them the best-performing sector among…

Apollo Commercial Real Estate Finance, Inc. Completes $34 Million First Mortgage Loan for South Beach Hotel, More…

ARI closed a $34.0 million first mortgage loan secured by a recently renovated 163-key boutique hotel located on South Beach in Miami, FL. The floating rate loan has a two-year initial term, with three one-year extension options and an appraised loan-to-value (“LTV”) of approximately 56%. ARI closed a $77.0 million first mortgage loan ($72.2 million of which was funded at closing) secured by a recently renovated 763-key hotel located in downtown Atlanta, Georgia. The floating rate loan has a three-year initial term…

There’s A New Trend Among Office Tenants

Developers expect strong leasing momentum in Coconut Grove with the pent up demand for innovative office projects.

H&M opening at 763 Collins in South Beach on April 27

H&M is opening a second store in Miami Beach on April 27, in the former Kenneth Cole space at the corner of Collins Avenue and Eighth Street. The store will span 15,000 square feet at 763 Collins Avenue, marking the 32nd H&M (Hennes & Moritz) in Florida, according to a release. RKF Executive Vice President Drew Schaul represented H&M in the deal. Property records show Tiffany 3/8 Assoc. Ltd., linked to Goldman Properties’ Senior Managing Director Marlo Courtney, bought the…

Miami’s Giralda Place tops off in Coral Gables

Giralda Place, at 2222 Ponce de Leon Boulevard, has topped off at nine stories in Coral Gables, moving a step closer to adding 33 luxury residences to the popular and historic Miami neighborhood upon completion, which is estimated for early 2018. The mixed-use development by Heidi Eckes-Chantré includes 13,390 square feet of ground-floor retail, a 419-space parking garage, and 101,300 square feet of Class A office space. There are 23 condos and 10 townhomes, with the project currently 24 percent under contract.

Deco Capital and RWN pay $7.4 million for Alton Road retail building

A joint venture between Deco Capital Group, led by Bradley Colmer, and New York-based private equity firm RWN Real Estate Partners, just paid $7.425 million for a retail building on Alton Road. The sale marks the latest deal on a redeveloping stretch of the major Miami Beach north-south artery, near the intersection of Lincoln Road. Miami Beach-based Deco Capital and RWN, led by Ari Shalam, bought 1671-1673 Alton Road…

Flurry of Dept. Store Closures Forcing Mall Owners to Adapt, Reinvest or Die

Part 1: Sears Discloses for First Time it May Not Survive, Marks Latest Blow to Dept. Store/Mall Sector. Part: 2: Investors Still Willing to Bet Big on Mall Turnarounds, Even Those Hit by Triple Anchor Closures. In this two-part news report by Senior Editor Mark Heschmeyer, CoStar analyzed the stores being closed by the…

Video: Lisa Pendegrast of CRE Finance Council Discusses Recent Market Outlook Survey

Lisa Pendergast, Executive Director with the Commercial Real Estate Finance Council, joins The Commercial Real Estate Show to Michael to discuss this year’s survey. Highlights of the discussion include: Fed has been good about benchmarking where rates are headed; 80% of respondents expect 25 to 100 bp increase in interest rates; Seeing better signs of economic growth ;Business investment is picking up; The post Video: Lisa Pendegrast of CRE Finance Council Discusses Recent Market Outlook Survey…

Video: Center for Realtor® Technology Labs Managing Director Chad Curry Discusses Newer Office Lighting Technologies for Productivity, Other New Developments

Chad Curry, Managing Director at the Center for Realtor® Technology, joins The Commercial Real Estate Show to discuss how new types of lighting can improve productivity, as well as other technologies that are changing the environment of office buildings, and for that matter, all buildings. This is a must watch video for commercial real estate investors as it has tips for saving money and enhancing a buildings environment relatively inexpensively, likely leading to more rent and net income.

Vacant Hialeah Industrial Warehouse Gets Purchased And Leased On Same Day

Sharpe Properties is please to announce the purchase of a 3,600 square foot street-level industrial warehouse property by SP33 Warehouse, LLC (SP33 Warehouse).  With the help of Sharpe Properties, the new owner of the vacant warehouse was also able to have it fully leased out to a tenant on the same day as the purchase. The warehouse is located at 1040 East 33rd Street, Hialeah, Florida 33013 (birdseye 45° aerial), and Sharpe Properties will provide the property management and leasing.Hialeah Warehouse…

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April 4, 2017

Cash Buyer Seeking Prime Retail Properties, 5% Minimum Cap Rate, Up to $55 Million

A cash buyer seeks prime retail properties, Lincoln Road, etc., up to $55 million. The buyer’s targeted cap rate is 5%.

If you have a property that meets this requirement, send an email or call.

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April 3, 2017

Buyer Seeks 100,000+ Square Feet (2.5+ Acres) of Land Near Miami or Fort Lauderdale Airports

A buyer is looking for industrial land close to Miami International Airport or the Forth Lauderdale airport. The property needs to be ore than 100,000 square feet, i.e. 2.5 acres or more.

If you have a property that meets this requirement, send an email or call.

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April 3, 2017

Buyer Seeks 3 to 4 Acres for Car Dealership

A buyer seeks 3 to 4 acres in the greater Miami area of land suitable for a car dealership.  Ideally the property will have 2 buildings on site. Price is not a factor.

If you have a property that meets this requirement, send an email or call.

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April 3, 2017

Seeking 5,000 to 8,000 SF of Retail Space to Lease in or Around Opa-Locka

A non-profit organization under agreement with us is looking for 5,000 to 8,000 square feet of retail space in or around Opa-Locka, Florida. Space must have parking for customers, shared or dedicated, preferably 10 or more spaces. This tenant is relocating from space it has been in for more than 15 years. This tenant has a limited budget, looking to find space for $5,000 per month or less.

If you have a property that meets this requirement, send an email or call.

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April 1, 2017

Video: Lisa Pendegrast of CRE Finance Council Discusses Recent Market Outlook Survey

Lisa Pendergast, Executive Director with the Commercial Real Estate Finance Council, joins The Commercial Real Estate Show to Michael to discuss this year’s survey. Highlights of the discussion include:

  • Fed has been good about benchmarking where rates are headed.
  • 80% of respondents expect 25 to 100 bp increase in interest rates
  • Seeing better signs of economic growth
  • Business investment is picking up
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March 31, 2017

Buyer Seeks Off-Market Miami-Dade Warehouse +/- 10,000 Square Feet with M-3 Zoning

A buyer is seeking an off-market warehouse property (industrial) with M-3 zoning anywhere in Miami-Dade County. The property should be approximately 10,000 square feet.

If you have a property that meets this requirement, send an email or call.

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March 31, 2017

Miami Commercial Property News March 30, 2017: Wynwood Square Site Hits Market; More…

Proposed Wynwood Square site hits the market, could fetch upwards of $30 million

The developer of the proposed Wynwood Square mixed-use project has put the site on the market rather than proceed with building it, The Real Deal has learned. Jeronimo Hirschfeld, founder and CEO of Miami-based One Real Estate Investment, planned the 12-story Wynwood Square at 2201 North Miami Avenue to have 241 apartments, 60,290 square feet of office space, 27,212 square feet of retail, and 481 parking spaces. “My take in the beginning was to develop it, but I have created a lot of value…,” Hirschfeld…

Vacation rental bill advances over Miami-Dade, beach cities’ objections

Despite opposition from Miami and Miami-Dade and a group of beach communities, a Florida House subcommittee on Tuesday passed a bill that prevents cities and counties from passing any new ordinances that restrict vacation rentals of private homes. The 9 to 6 vote by the Careers & Competition Subcommittee sends the controversial bill to the 30-member Commerce Committee, which is top heavy with lawmakers from South Florida where opposition to short-term vacation rentals has been most intense. The bill…

Spat over law firm delays City of Miami multi-million-dollar deal

A multi-million-dollar deal to gain new offices for the City of Miami and open choice riverfront downtown to private development has been delayed. It involves the lease or sale of the city’s riverfront offices – requiring voter approval – and any hope of having the deal ready for November’s ballot may be lost, said City Manager Daniel Alfonso. Last week the city commission refused to hire law firm Shutts & Bowen as special real estate counsel to work in consultation with the city attorney on the sale/lease of the Miami Riverside…

The Keys To Implementing An Effective Surveillance System

Whether you have a surveillance system in place or are looking to develop a new one, the world of cameras and security equipment can be daunting to those who aren’t experts in the industry. When working properly, a surveillance system can improve your response to crimes or other issues that arise. “If an organization has an on-site security force and a security monitoring center, a camera system can be used to leverage their capabilities,” says Michael Silva, Principal at Silva Consultant…

Miami Beach’s latest food hall, The Lincoln Eatery, unveils renderings

Featuring a rooftop deck Food halls continue to sprout across Miami, with the latest being The Lincoln Eatery, a Terranova project opening at 723 Lincoln Lane (aerial) in South Beach, just off Lincoln Road. Expected to debut Fall 2018, the building is already anchored by Marshalls on the upper floors. The open culinary concept will focus on fast and affordable dining options within spaces ranging in size from 119 to 500 square feet at ground level and a rooftop terrace with nearly 5,000 square feet of…

Florida questionably ranks 17th among ‘best states to retire’

Huh? Florida is not the best state to retire, or even among the Top 15, according to a study by Bankrate. The methodology used was cost of living, weather, health care quality, crime, tax, culture, seniors (prevalence of other seniors), and well-being. Somehow, Florida ranked 17th overall, questionably placing 18th in weather, the latter due to high air conditioning bills and a “relatively small number of clear days.” Florida fared especially poor in Crime (39th). New Hampshire topped the…

Trump presidency to have a positive impact on SoFla real estate investment: panel

As Donald Trump inches closer to his 100th day in office, the pivotal moment most U.S. presidents are judged as to whether their agendas are moving forward, the commander-in-chief remains mired in a never-ending storm of controversy. Yet, having the New York billionaire developer at the country’s helm will only bode well for South Florida’s real estate market in the next four years, real estate panelists said on Wednesday…

Thor Equities leases Lincoln Road spots to Steve Madden, Haagen-Dazs

Thor Equities has signed leases with Steve Madden and Haagen-Dazs for two adjacent spaces on Lincoln Road, bringing its holdings on the pedestrian promenade to fully leased, The Real Deal has learned. Steve Madden is taking 2,300 square feet at 663 Lincoln Road and Haagen-Dazs will be next door, with 1,000 square feet at 665 Lincoln Road, according to a New York-based Thor Equities spokesperson. Asking rents for both spaces were $300, the spokesperson…

Bayview Financial Renews 88,000-SF Lease in Coral Gables

Bayview Financial, a full-service mortgage finance company, renewed its lease for 88,047 square feet in the office building at 4425 Ponce De Leon Boulevard in Coral Gables, FL. The six-story The VIllage of Merrick Park building totals 135,000 square feet. Rouse Coral Gables LLC developed the property in 2002, at which time Bayview initially leased approximately 52,000 square feet of office space there. Matthew Cheezem of JLL represented the tenant……

Boats Group Sailing Into Miami Office Space at 1221 Brickell

Boats Group, a global leader in boat sales, has signed a 16,529-square-foot office lease at 1221 Brickell Ave. in the heart of downtown Miami, FL. The 27-story 408,423-square-foot, 4-Star office building was built in 1986 on 2.1 acres in the financial district of Miami/Dade County’s Brickell submarket. Dale Karrh with Newmark Grubb Knight Frank represented the tenant. Eric Groffman and Josh Gibbons with JLL represented the landlord, Equity…

Having More than Halved Since 2009, Miami-Dade Unemployment Rate Extends Decline

Miami-Dade County, Florida, Unemployment Rate 1990 to 2017. The unemployment rate in the Florida county of Miami-Dade County continued its steady decline that began in late 2009. Since its peak in August of that year, the unemployment rate has more than halved from 12.4% to 5.1% at the end of 2016 (January 1, 2017). The extent of this improvement can be appreciated in the accompanying chart (Unemployment Rate in Miami-Dade County, Florida for the period January 1, 1990 to January 1, 2017…

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March 30, 2017

Video: Center for Realtor® Technology Labs Managing Director Chad Curry Discusses Newer Office Lighting Technologies for Productivity, Other New Developments

Chad Curry, Managing Director at the Center for Realtor® Technology, joins The Commercial Real Estate Show to discuss how new types of lighting can improve productivity, as well as other technologies that are changing the environment of office buildings, and for that matter, all buildings. This is a must watch video for commercial real estate investors as it has tips for saving money and enhancing a buildings environment relatively inexpensively, likely leading to more rent and net income.

  • Circadian rhythm optimized lighting can save energy and improve productivity
  • Generated by NASA to help with sleeping by normalizing circadian rhythms
  • Hospitals put blueish lights in work areas and yellowish lights in
  • Night shift on iPhone and other phones is to remove blueish light that keeps one awake
  • Benefits of automatic on and off switches as offered by Tvilight, Density.io, and others
  • Benefits of traffic tracking and analysis by companies like Scanalytics
  • Developments in people and vehicle counting technology

CRT Labs is a research group that is operated by the National Association of Realtors’® Center for REALTOR® Technology. The primary goals of CRT are to track emerging technologies that are anticipated to affect real estate, to educate its members, to advocate for the proper use of technology, and to innovate when there appears to be a gap between what is needed and what is available.

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March 29, 2017

Having More than Halved Since 2009, Miami-Dade Unemployment Rate Extends Decline

Miami-Dade County, Florida, Unemployment Rate 1990 to 2017

Miami-Dade County, Florida, Unemployment Rate 1990 to 2017

The unemployment rate in the Florida county of Miami-Dade County continued its steady decline that began in late 2009. Since its peak in August of that year, the unemployment rate has more than halved from 12.4% to 5.1% at the end of 2016 (January 1, 2017). The extent of this improvement can be appreciated in the accompanying chart (Unemployment Rate in Miami-Dade County, Florida for the period January 1, 1990 to January 1, 2017, i.e. for the period from 1990 through 2016.

A low unemployment level bodes well for commercial real estate as it  generally indicates increased economic activity. For multifamily investors, lower unemployment can be good for occupancy rates and rent levels. Likewise, less unemployment generally means more people working, thus more demand for work space in the form of office and industrial space. Further, more people working typically means more disposable income and more personal expenditures, increasing revenue for retail and hospitality space.

Comparing Miami-Dade County;s Unemployment Rate to Other South Florida Counties

Unemployment Rate Miami-Dade versus Surrounding South Florida Counties as of January 1, 2017 (End of Year 2016)

Unemployment Rate Miami-Dade versus Surrounding South Florida Counties as of January 1, 2017 (End of Year 2016)

The unemployment within Miami-Dade County sits somewhat in the middle of the pack among South Florida counties, not the highest, not the lowest. Hendry County registered the highest unemployment rate at 8.1%, while Monroe County registered a notably low 3.5% unemployment rate.  These were outliers among the group, however, which otherwise registered unemployment rates around 5%.

Related Posts

1/22/16: Miami-Dade Unemployment Rate Furthers its Decline

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March 29, 2017

Miami Commercial Real Estate News March 28, 2017: Triple Five Halts American Dream New Jersey; More…

Miami commissioner goes after large-scale developments

A second Miami city commissioner is going after a provision in the zoning code that allows for large-scale developments with relaxed conditions called Special Area Plans, or SAPs. Commission Chairman Keon Hardemon proposes a moratorium on SAPs near Biscayne Bay to give planning staff more time to review current regulations and adopt revisions. His proposal is on today’s (3/23) commission agenda for a first reading. The ordinance would establish a 240-day moratorium on the acceptance of new applications…

Triple Five, Developer of American Dream Miami mega mall, halts its New Jersey mall project

The developer of the American Dream mall in north Miami-Dade County is still struggling to finish a mall with the same name in New Jersey. Triple Five, the developer, suspended construction of the American Dream mall in the Meadowlands area of northeastern New Jersey on December 23 for what it called a “planned holiday slowdown.” Triple Five told NorthJersey.com that work on the mall would resume this year. But construction has not resumed. The stalled construction work may derail plans to open the mall by 2018.

Vote soon on Genting plan for 300-room Miami hotel

Miami-Dade commissioners should soon vote on a joint development at the county’s Omni Bus terminal and access to the Adrienne Arsht Center Metromover station in which Malaysian casino giant Genting plans a 300-room hotel over the bus terminal. Miami-Dade’s Transportation and Public Works Committee on Thursday unanimously approved the concept from Genting subsidiary Resorts World Miami LLC and forwarded it to the full commission. It was a late addition to the agenda. Mayor Carlos Gimenez wrote…

Here’s a parking space with your ribs: Flanigan’s expands North Miami footprint with $7 million assemblage

Flanigan’s Enterprises is making sure that its customers always have parking. The publicly traded Fort Lauderdale-based restaurant group paid $2.5 million for a 20,000-square-foot lot adjacent to its North Miami location on Biscayne Boulevard, broker Jonathan Molano told The Real Deal. Jimmy Flanigan, president and CEO of the company, said Flanigan’s Seafood Bar and Grill has been at that spot, at 13205 Biscayne Boulevard, for about 40 years. “We endeavor to own all of our properties and the corridor…”

Miami’s spectacular condo-flipping market is in turmoil

In February, existing home sales of all types fell 10% year-over-year, to 1,835 homes. These sales “do not include Miami’s multi-billion dollar new construction condo market,” the Miami Association of Realtors clarified in its report on March 23. And this new construction market that is not included has become distressed. Sales of single-family homes fell 10% in February, to 881 houses. The report blamed the shortage of properties “in popular price points.” Prices have been rising sharply, and at the price points where people…

Frustration builds on Flagler Street renovation

Frustrated with on-again, off-again progress on Flagler Street’s renovation from the Dade County Courthouse to Biscayne Boulevard, Miami’s Downtown Development Authority might consider hiring its own project manager. The idea was one of many discussed at the authority’s Friday meeting. Though Miami’s Capital Improvement Program (CIP) is running the project, the downtown authority, stakeholders on the street, and Miami-Dade County – not the city – are footing most of the cost. Yet authority members say they…

Miami Commissioner Wants to Replace Godforsaken Brickell Bridge With a Tunnel

Maurice Ferre served as the mayor of Miami from 1973 to 1985. During that time, his administration noticed that the Brickell Bridge, which spans the Miami River downtown, had been mucking up traffic on Biscayne Boulevard. The structure is a drawbridge, and every time a boat passed into the bay, traffic on both sides of U.S. 1 ground to a halt. So Ferre’s administration proposed digging a tunnel under the river. But Ferre’s fellow city officials shot down the idea down. And in the decades since, traffic around the bridge has gone…

Topshop Topman, Zara and more heading to Aventura Mall’s new wing

Topshop Topman and Zara will open flagship stores in Aventura Mall’s new three-level wing in November, as the shopping center aims to boost its experiential offerings with more food, art and a VIP lounge, The Real Deal has learned. Topshop Topman’s two-level store at the mall owned by Turnberry Associates and Simon Property Group will mark the British brand’s first standalone store in Florida. The retailer’s offerings will include Topshop for women and Topman for men. Zara, which previously operated a store at Aventura Mall…

Company says bill could block extension of train service to Orlando

Executives of All Aboard Florida, the company developing a passenger train service in South Florida, say a bill in the Florida Legislature could derail plans to extend the service to Orlando. Michael Reininger, chief executive officer of All Aboard Florida, criticized a legislative proposal called the Florida High Speed Passenger Rail Safety bill, sponsored by Senator Debbie Mayfield (R-Melbourne). Reininger said in a conference call with the Miami Herald and El Nuevo Herald that the bill is a “thinly veiled” attempt to block…

Too much time in permitting is too little money for Miami

We used to learn by the grapevine that getting a building permit was slower in one city than another. For example, we always heard that Coral Gables could take seemingly forever to get a small project permitted. But thanks to the Internet, we can now read officially what virtually every community tells us about how long a building permit for a single-family home or a small renovation is going to take and plan accordingly. One of the longest waits nationally is San Diego, where such a permit…

Ten Business Practices To Manage Risk And Avoid Litigation

We see litigation in our daily lives, whether it is depicted in movies and television shows or blasted all over the news, but most business owners don’t stop to think about what it really means for them when they get into a legal situation. Typically, litigation is settled by agreement between the two parties but it may also be resolved by a jury or judge in court. Litigation is often necessary in some cases where attorneys fight hard to get the best results for their clients. However, litigation…

Five Companies Open New Locations In Doral

In addition, another Doral tenant increased its square footage by 9,800 square feet.

Coconut Grove Sees A New 30-Year First In Commercial Development

The Grove is coming alive with new condos, restaurants and shops, and the development of new Class A office space is the final ingredient that will complete the neighborhood’s comeback.

Everything You Need To Know About Florida Deficiency Judgments – Part II

A foreclosure judgment, followed by sale of the mortgaged property, doesn’t necessarily end a foreclosure case.  If the sale proceeds don’t fully pay the debt, the next step is a money judgment against the borrower for the difference (a “deficiency judgment”). “The amount for which a mortgaged property sells at foreclosure sale, whether to the mortgagee or to a stranger, is (less such costs and expenditures as provided in the final judgment of foreclosure) applied to the debt as fixed…

New York to Miami was 2016’s most popular long-distance move

Estimated to cost $5K The move from New York City to Miami was the most popular long-distance move of 2016, according to a study by SpareFoot in collaboration with Moving.com which looked at the most searched moves of 2016. The estimated cost for that move from the Big Apple to the Magic City based on a two-to-three-bedroom home without packing was $5,000. Among the 20 most popular long-distance routes was also Miami to Los Angeles (No. 17), Miami to Atlanta (No. 11), Miami to New York (No. 9)…

Poll: Should the Miami Open move to Hard Rock Stadium?

Miami Dolphins owner Stephen Ross makes a proposal With the Miami Open’s longtime future on Key Biscayne in question, Miami Dolphins owner Stephen Ross has proposed an alternative location: on the grounds of Hard Rock Stadium in Miami Gardens. Ross has proposed building a new tennis complex next to his stadium, according to the Miami Herald, while installing a Stadium Court inside the 65,326-seat stadium for bigger matches. The privately-funded alternative to Key Biscayne, where the tournament…

Miami Ultra Music Festival’s 2017 design and lighting in 15 photos

With a multi-million dollar budget You don’t have to be a hardcore fan of electronic dance music to appreciate Miami’s Ultra Music Festival, which wrapped up its 19th edition last night at downtown Miami’s Bayfront Park. If that heart-rattling music isn’t for you—it’s certainly not for me—one can still become enchanted by the secondary entertainment. This would include the attire, which ranges from Borat thongs to black tape bikinis, as well as the elaborate stage design…

Miami Development: Resorts World’s 36-story downtown tower to include hotel, residential

Part of a proposal to redevelop the Omni transit terminal  Included in Resorts World’s plans to redevelop the Omni transit terminal in downtown Miami is a mixed-use building with retail, restaurants, and entertainment, according to The Next Miami, in addition to a 36-story tower above the station that would encompass hotel rooms and residences.
Arquitectonica is the architect of the estimated $200 million project, which would include 300 rooms in the 162,000-square-foot limited service hotel…

Medical marijuana may push South Florida’s industrial sector to new highs

From the March issue: In early February, two monthly gatherings of real estate professionals hosted by the Realtors Commercial Alliance Miami saw attendance spike three-fold. “We usually get 25 to 30 people showing up to these events,” said Michael Silver, first vice president for CBRE Miami. “But we had about 90 people at the February events because both had to do with medical marijuana.” Silver told The Real Deal that a majority of attendees were interested in how they could cash in…

Judge orders Craig Robins’ Dacra to pay Ugo Colombo’s $1.5M legal tab tied to jet dispute

In the latest step in a seven-year legal battle, a judge ruled that Craig Robins’ Dacra Development must pay $1.5 million for Ugo Colombo’s attorneys’ fees tied to their dispute over a private jet. The judgment brings the total Dacra owes Colombo and his CMC Group to $3 million. Miami-Dade Circuit Court Judge Michael Hanzman’s ruling from Thursday was an agreed amount, and is on top of another $1.5…

Video: Deloitte’s Bob O’Brien Discusses the State of Different Commercial Property Types

Bob O’Brien, Global Real Estate Sector Leader at Deloitte, join The Commercial Real Estate Show to chat about the state of different commercial property sectors. Some highlights include: Rise in one day or same day shipping has caused a rise in industrial space; Global trade disruption is the risk to industrial; In hospitality, excess supply is a risk as added inventory is outpacing demand; Trump initiatives could be positive for commercial real estate; Commercial lending has been suppressed by…

3 Major Changes on the Horizon for Commercial Real Estate

Globalization, new technologies, and mobile applications are accelerating industry innovations. In the last two decades, the residential real estate industry has undergone a radical transformation. Innovations like mobile technology and big data have changed and refined the sales, marketing, financial, and communications methods used to buy and sell homes. Despite these transformations, the commercial real estate sector has remained comparatively unchanged – with many brokers and companies…

US Real Estate Debt Funds Are Flourishing, But Are They Becoming Complacent?

U.S. private fund managers are doubling down on debt, but some observers are worried they might be underestimating the risks. Last year, the total sum raised by real estate debt funds rose to $20.4 billion, from $12.2 billion in 2015, according to research firm Preqin. The appeal of issuing debt is that it protects investors…

Non-compete agreements act as contracts

When two multi-million dollar companies engage in similar business dealings, it can be important for those companies to protect their individual interests. That is why many Florida companies have non-compete agreements in place to protect confidential information and make sure that their business continues to thrive and grow in the community. Many times, employers require employees to sign non-competition agreements to ensure that they do not reveal confidential information to a competitor upon…

Miami Among Top Cities For Millennials

According to a new report from Realtor.com, high job growth in Miami is making it a magnet for millennials, translating into a strong population of home buyers.

Another 70,000 People Are Working In The Miami Area This Year, Setting A Record

The recently released U.S. Bureau of Labor Statistics data showed the county has once again broken employment records in January, after a record-setting December.

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March 28, 2017

Buyer Seeking Existing Strip Center +/- $8 Million

A buyer seeks an existing retail strip center with a market value around $8 million an located within Miami-Dade county.

If you have a property that meets this requirement, send an email or call.

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March 28, 2017

Video: Deloitte’s Bob O’Brien Discusses the State of Different Commercial Property Types

Bob O’Brien, Global Real Estate Sector Leader at Deloitte, join The Commercial Real Estate Show to chat about the state of different commercial property sectors. Some highlights include:

  • Rise in one day or same day shipping has caused a rise in industrial space
  • Global trade disruption is the risk to industrial
  • In hospitality, excess supply is a risk as added inventory is outpacing demand
  • Trump initiatives could be positive for commercial real estate
  • Commercial lending has been suppressed by regulatory pressure

 

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March 24, 2017

Buyer Seeks 8,000 Square Feet Warehouse Near MIA

A well qualified and serious buyer is looking for an 8,000 square feet or so warehouse industrial in an area bordered on the west by 67 Avenue, on the east by 107 Avenue, on the south by NW 12 Street, and on the north by NW 36th Street. The buyer’s budget allows up to $1.5 million.

If you have a property that meets this requirement, send an email or call.

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March 24, 2017