Video: Lease Mistakes Tenants Should Work to Avoid

Jonathan Neville, a partner in the law firm Arnall, Golden, Gregory, joins Michael to discuss lease mistakes that tenants would be best served to work to avoid. Discussed are the dangers of unreasonable landlord remedies, the risks that can be buried within landlord assignment clauses, the importance of having landlord default clauses, the importance of having a tenant use clause that allows for the evolution of a business, having a workable and effective exclusive right to sell within a center,  and the importance of having a subordination and non-disturbance agreement (SNDA).  This video has some great information within it and is a must for anyone considering the leasing of retail space.

Jonathan “Jon” Neville, leads his firm’s Retail Practice, and continues to establish a national reputation as a leader within n the retail real estate industry. He has completed transactions in almost all 50 states and has spoken at numbers of conferences around the United States as well as on nationally syndicated media productions.  Hi practice focuses on commercial real estate development as well as franchising. He is active in assisting clients in commercial real estate purchases on a nationwide basis. He represents many principals as well as investment groups which acquire, develop and sell retail shopping centers and other retail and restaurant development projects of various sizes. He has negotiated, and additionally continues to be responsible for leases on behalf of numbers of nationally-recognized restaurant, retailers, and developers.

Looking to lease retail or other space in Miami?  Read about how we can help you here.

March 1, 2017

Miami-Dade Adopted 2020 and 2030 Land Use Plan Available in Poster Form

Purchase the Miami-Dade Adopted 2020 and 2030 Land Use Plan in Poster Form

Purchase the Miami-Dade Adopted 2020 and 2030 Land Use Plan Poster

Now available to purchase online  is the Miami-Dade Adopted 2020 and 2030 Land Use Plan in Poster Form. This is the poster as published by Miami-Dade county. Information regasrding the land use plan, as well as a free download of the PDF, is available at Miami-Dade.gov.

Anyone engaged in real estate within the county will appreciate the convenience of a large poster as compared to opening a large PDF on a computer.

 

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March 1, 2017

Video: Options to Renew ~ Mistakes to Avoid in Commercial Leases

Laura Hall, partner at Sheley, Hall & Williams, joins Michael Bull of The Commercial Real Estate Show to discuss mistakes to avoid in lease involving options to renew.  Some highlights of this video include:

 

  • Most commercial leases have one
  • Very few are exercised
  • Landlord should require as much lead time as possible to execute
  • Tenant wants the shortest amount of lead time to allow flexibility
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March 1, 2017

Video: Dr. Victor Calanog, Chief Economist & SVP at Reis, On 2016 Q4 Multifamily Market Trends

Reis Chief Economis and Senior Vice President Victor Canalog, PhD, provides an analysis of market fundamentals in the apartment/multifamily sector for the fourth quarter and year of 2016.  Some highlights from this video include:

  • During 2016, vacancies declined by only 0.1%
  • 200,000 New units came online
  • Asking and effective rent both grew by 5.8%
  • Concessions have made their way back into markets in the face of new competition
  • The trends for the next 5 years are expected to be weaker than past 5 years for multifamily properties
March 1, 2017

Miami Today Video Profile: Tibor Hollo

Legendary Miami developer Tibor Hollo is profiled in this video from Miami Today.

Tibor Hollo packed his bags in 1956 along with his reputation as one of New York’s more successful general contractors as he relocated to sunny Miami.  There he founded Florida East Coast Realty. In the 60 years that have since passed, Florida East Coast Realty has built in excess of 60,000,000 feet of single-family residences, government buildings, marinas, , landmark residential and commercial high-rises, high-end retail centers, warehouse complexes, and telecommunications centers. Among their activities was the development of Miami’s Omni/Venetia area, which sparked the transformation of the district into what is now known as, the Miami Arts and Entertainment District.

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February 28, 2017

Miami Commercial Real Estate News February 28, 2017: Miami Traffic 5th Worst in USA; Office, Retail, & Industrial Updates; More…

FinCEN Renews Cash-Only Real Estate Reporting Orders

The Financial Crimes Enforcement Network (FinCEN) renewed the existing Geographic Targeting Orders (GTO) that were scheduled to expire today. The tracking orders temporarily require U.S. title insurance companies to identify the “natural persons” behind shell companies used to buy high-end residential…

Video: Industrial Property Developer Larry Callahan Offers USA Industrial Market Insights

Larry Callahan, CEO of Pattillo Industrial Real Estate, a southeastern USA developer of industrial properties, joins The Commercial Real Estate Show host Michael  Bull to discuss the growth of the industrial market and a number of trends impacting it.  He notes that e-commerce is having by far the…

Miami super tower One Bayfront Plaza to break ground in 2019, says Tibor Hollo

A 1,049-foot high-rise in downtown Miami New designs of the planned One Bayfront Plaza in downtown Miami surfaced in December filed by Florida East Coast Realty, calling for 902 apartments, 200 hotel rooms, 532,000 square feet of office space, 103,959 square feet of retail, and over 1,000 parking…

Video: Barbara Denham of Reis Provides a Retail Property Update and Forecast for 2017

Michael and Barbara Denham, Senior Economist at Reis, comes on Michael Bull’s The Commercial Real Estate Show to talk about the retail property market, including performance, values, and trends. Barbara Denham is a Senior Economist in the research and economics department at Reis, an industry leader…

Study: Miami Has World’s Tenth Worst Traffic, and It’s Costing Us $3.6 Billion

Jakarta. New Delhi. Beijing. Lagos. Bangkok. Those worldwide hubs conjure images of people crammed in traffic, honking their way through congested streets and crowded town centers. But according to one recent study, none of those global cities has a traffic problem quite like Miami’s. According to data released Friday by the traffic-analytics company Inrix, Miami is the proud home of the world’s tenth worst traffic congestion. According to Inrix, Miamians spent an average of 65 hours trapped in traffic at peak congestion…

Video: Reis Senior Economist Barbara Denham Provides U.S. Industrial Property Market Update

In this brief video, Barbara Denham, Senior Economist at Reis,  discusses the industrial property market nationally, including performance and trends in rent and vacancy.  During this video a chart is displayed showing, over the past several years, steady rent growth and a (likewise) steady decline…

Video: Forecasting the Office Market with CoStar’s Director of Office Property Research: Cap Rate Forecasts; NOI Growth Projections; More…

Walter Page, Director of Office Property Research with CoStar makes forecasts for the office property market forecast for 2017 and beyond, including interest rates, cap rates, and demand in this video from The Commercial Real Estate Show. He notes that cap rates have been flat for office properties…

Video: CoStar’s Director of Office Property Research Provides an Update: Office Construction vs. Norms; Rent Growth Year Over Year; Vacancy by City; More…

Walter Page, Director of Office Property Research for CoStar, provides and update on the Office Market in this video from The Commercial Real Estate Show. This update on the office property market includes performance, construction, and supply. Walter presents and discusses a chart of new office properties…

Miami’s 9 Hottest Developments Under Construction

The Miami skyline has undoubtedly transformed in recent years but judging from the current swarm of cranes littered throughout the skies and a slew of recently announced projects, its evolution is still very much fluid.

Miami-Dade Mayor Hopes To Get Billions In Transit Funding After Revoking Sanctuary City Status

Local surveys consistently rank traffic as the top concern of local residents, and Mayor Gimenez will come out “very popular” if he manages to solve it.

Skyscrapers to Change Miami’s Skyline

At present time, the Four Seasons Hotel is the tallest building in all of Florida at 789 feet high, and until recently no other buildings were allowed to be taller than it because of regulations with the Federal Aviation Administration (FAA). According to the FAA, skyscrapers could not be taller than…

Miami’s Hard Rock Stadium named a finalist for ‘Stadium of the Year’

Home of the Miami Dolphins and Miami Hurricanes Miami’s newly renovated Hard Rock Stadium is one of 10 finalists for 2016 Stadium of the Year, an award given to the best new stadium in the world. Formerly New Miami Stadium and Sun Life Stadium, Hard Rock purchased the naming rights in August just…

Former executive chairman of Bay Harbor Islands developer Verzasca developer, ex-prez of JetSmarter, arrested in Fort Lauderdale

A screenshot of the JetSmarter-Aurora partnership from the development’s website. Inset: Gennady Barsky. Former Verzasca Group developer Gennady Barsky was arrested in Fort Lauderdale and is facing extradition to California, where he’s wanted on grand theft charges.  Barsky, the former executive chairman…

Opportunity to Extend Development Orders and Permits for Almost 16 Months

Developers must notify issuing governmental agency by July 10th to receive a new extension. Holders of permits and development orders have the opportunity to toll the period remaining to exercise rights under the permit or order for nearly 16 months. Section 252.363 of the Florida Statutes permits…

The Road Ahead: How Uber, Lyft, and Driverless Cars Could Change Commercial Real Estate

A look at the potential impact of disruptive technology and service. There’s a revolution on the road ahead and it’s picking up speed. Just a few years ago, order-by-phone car services like Uber and Lyft were a novelty. Today, they’re more like a necessity – so much so, that along with technology…

18 Brickell: the new architecture promise with a vibrant design that will embellish Downtown Miami!

It is a fact that Miami Residential Real Estate keeps evolving, especially in Brickell, considered the “South Manhattan”. Downtown has grown as a potency to attract the most creative minds to invest in Miami, adding a modern touch to this tropical location. To replace the historical “Burger King”, currently surrounded by luxurious and magnificent building developments, Brickell is prepared to receive a spectacular tower called “18 Brickell” at 10 SW 8th Street that will host shops, offices, residential units and provide…

Condo Speculation Collapses in Miami-Dade’s Condo Glut

Preconstruction condo flippers left twisting in the wind. The lure: Buy a preconstruction condo from a developer in the early stages of development. The initial deposit is small, and in a booming market, the payoff big. Additional payments need to be made as the building progresses, but lenders are eager to lend as condo prices soar. Everyone is in nirvana. This bet has been hot in the condo construction boom around the country. But in Miami, the bet is now collapsing. And preconstruction condo flippers, the lucky ones that…

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February 28, 2017

Video: Industrial Property Developer Larry Callahan Offers USA Industrial Market Insights

Larry Callahan, CEO of Pattillo Industrial Real Estate, a southeastern USA developer of industrial properties, joins The Commercial Real Estate Show host Michael  Bull to discuss the growth of the industrial market and a number of trends impacting it.  He notes that e-commerce is having by far the most impact on the sector, with the most active segment of the market in buildings with more than a million square feet, generally with a single tenant.  He further notes that an emerging trend of major e-commerce providers of smaller closer-to-the-customer regional distribution centers, with sizes more in the 200,000 to 300,000 square feet range versus their sole strategy of 50 to 60 million square feet in years past.  He  goes on to further speculate that an under the radar trend of smaller businesses growing into a size that needs this 200,000 to 300,000 square foot range is providing additional fueling to needs in this size range. He goes on to discuss the re-purposing of dead strip malls as industrial properties, surely something we will see more of as retailing continues its shift to online. Mr. Callahan notes that whereas in the recent past 65-70% of new construction has been build to suit, nearly 80% of activity is not speculative.  Finally, he believes that parking area requirements, both for trucks and employees, are increasing.  Interestingly, he believes the lack of adequate parking in existing facilities has driven much of the build to suit activity.

More About Patillio Industrial Real Estate

Pattillo Industrial Real Estate, founded in 1950, is a third generation developer and the largest privately held industrial development company in the Southeastern United States. They specialize in the development, acquisition, and management of industrial properties, building and land.  The own and manage Class A industrial buildings located in master planned industrial parks in the states of Georgia, Florida, South Carolina, Tennessee, and Kentucky. Pattillo Industrial Real Estate is actively developing and acquiring strategically located land and buildings throughout the Southeast United States. Although they appear not to own properties in the Miami area, Mr. Callahan’s comments apply to all markets, Miami included.

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February 24, 2017

Miami Commercial Property News February 23, 2017: Edgewater Developers Facing Foreclosure; Tibor Hollo Profiled; More…

Edgewater developers face foreclosure over unpaid $34M loan

In one of the first major foreclosure initiations during the cooling real estate market, a lender is suing the developers of an Edgewater hotel project for not paying a $34 million loan. On Jan. 18, BDB Realty LLC filed the foreclosure lawsuit against Rebuild Miami-Edgewater LLC in Miami-Dade Circuit Court. Exactly one year ago, Rebuild purchased a 7.35-acre site on the corner of Northeast Second Avenue and Northeast 17th Street for $64 million from BDB, which is a partnership between Atlanta-based BDB Realty…

Tibor Hollo Miami Today Profile: Building our tallest tower, with a bigger one to follow

In 1956, Tibor Hollo packed his bags and reputation as one of New York’s most successful general contractors and relocated to sunny Miami, where he founded Florida East Coast Realty. In the 60 years since, the company has built in excess of 60 million square feet of single-family homes, landmark residential and commercial high-rises, government buildings, marinas, high-end retail centers, warehouse complexes, and telecommunications centers. The company forged new ground by developing Miami’s Omni/Venetia…

Now on Kindle: Florida Chapter 475 Part 1 Regarding Real Estate Brokers, Sales Associates, and Schools

James Hawkins, via a related entity, has made Florida Chapter 475, Part 1, Real Estate Brokers, Sales Associates, and Schools, from Florida Statutes Title XXXII, Regulation of Professions and Occupations, available for download on Kindle. This is a great resource for those studying to take the Florida Real Estate Sales Associate or Florida Real Estate Broker exams, and is a must have reference for those already licensed as Florida real estate sales associates, Florida real estate brokers, and Realtors. Once on Kindle, users can…

Video: Forecasting the Office Market with CoStar’s Director of Office Property Research: Cap Rate Forecasts; NOI Growth Projections; More…

Walter Page, Director of Office Property Research with CoStar makes forecasts for the office property market forecast for 2017 and beyond, including interest rates, cap rates, and demand in this video from The Commercial Real Estate Show.
He notes that cap rates have been flat for office propertie…

Tri-Rail to roll commuter rail into downtown Miami by year’s end

With a bid controversy settled, the South Florida Regional Transportation Authority is on track to have Tri-Rail commuter trains steaming into downtown’s Miami Central station by year’s end. “We issued a contract this week for the maintenance of the corridor,” Bonnie Arnold, authority spokesperson, said last week. “We stand by the process.” The authority solicited bids to bundle services from four contracts that are expiring. The bid documents stated the proposals had to be non-conditional, meaning that they couldn’t take…

Video: Reis Senior Economist Barbara Denham Provides U.S. Industrial Property Market Update

In this brief video, Barbara Denham, Senior Economist at Reis,  discusses the industrial property market nationally, including performance and trends in rent and vacancy.  During this video a chart is displayed showing, over the past several years, steady rent growth and a (likewise) steady decl…

Miami-Dade County analyzes four expansions for Metromover

Miami-Dade County transit officials are analyzing extensions for the Metromover and upgrades for all its systems toward accommodating increasing ridership. Director of Transportation and Public Works Alice Bravo said right now her department is evaluating various expansions, including one to the north for the Midtown area; the south to close the Brickell loop; the west for the Marlins Stadium area; and Miami Beach over the MacArthur Causeway to Fifth Street and Alton Road that would serve as a beach corridor.

Uber And The Freight Business: Collaborative Partner Or Disruptive Competitor?

With over 30 million users a month in 425 cities in 72 countries, some would say that Uber is fast changing the face of global road transport. The start-up, which was founded by Travis Kalanick in 2010, has severely disrupted the taxi industry in many cities around the world. And now it seems…

Florida Commerce With Cuba Totals $65 Million Even As Governor Tries To Limit Trade Expansion

Even though Gov. Rick Scott doesn’t think any Florida port should be doing business with the “Cuban dictatorship”, many items have flowed through the state’s ports and airports headed to or returning from Cuba.

Home sales still falling in Miami-Dade, Broward and rising in Palm Beach: Realtors reports

Miami-Dade and Broward counties continued to see declines in residential sale volume and increases in prices in January, according to the latest Miami and Greater Fort Lauderdale associations of Realtors reports. In Palm Beach, meanwhile, more…

Genet Property Group Shopping South Miami Industrial Portfolio

Genet Property Group has put its 366,000-square-foot portfolio of 11 smaller industrial buildings up for sale. Genet has retained the Cushman & Wakefield team led by Miguel Alcivar, Dominic Montazemi, Scott O’Donnell and Jason Hochman to market the portfolio to potential buyers. Related…

Miami Highways To Get First Diverging Diamond Interchanges

Work is steadily moving forward to make driving on area highways less time-consuming and safer. “Two major things right now are the diverging diamond interchanges and the work on the shoulders of 836 to prepare them for express buses,” said Yvette Holt, a spokesperson for the Miami-Dade Expressway…

New EB-5 U.S. Visa Program For International Investors Announced

Another way of investing in this prime condominium is through EB-5. EB-5 is a visa program where foreign investors are given a green card when they invest in the United States. However, it is not as simple as that. The investor should ensure that he/she will also be able to provide 10 jobs. Recently, the real estate industry has been accepted to grant this opportunity to foreigners. The investment of the foreigner should amount to $500K, but this already shoulders him and his family. There are only a few luxury condominium…

HFZ’s Alicia Goldstein Talks Miami Commercial Real Estate and More

Alicia Goldstein is something of a legacy in New York real estate. Her mother, Patricia Goldstein, worked at the highest levels of commercial real estate for decades, including as vice chairman and head of commercial real estate at Emigrant Bank, until her passing last April. And Alicia, 43, has made her mother proud. Currently the senior managing director and president of sales and marketing for Manhattan real estate developer and investor HFZ Capital Group, the junior Goldstein brought the expertise she developed in sales…

Miami Officials Aren’t Even Planning for Medical Marijuana Dispensaries in the City

In November, Floridians overwhelmingly voted to legalize medical marijuana. Seventy-one percent of voters backed Amendment 2, requiring the legislature to make rules by July 3. By September, medical pot is supposed to be available statewide. But try telling that to the City of Miami. Nearly four months after the election, officials in the Magic City are still debating whether medical marijuana is even legal at all. That curious position became clear during a Planning and Zoning Appeals Board meeting last week, when…

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February 23, 2017

Video: Barbara Denham of Reis Provides a Retail Property Update and Forecast for 2017

Michael and Barbara Denham, Senior Economist at Reis, comes on Michael Bull’s The Commercial Real Estate Show to talk about the retail property market, including performance, values, and trends. Barbara Denham is a Senior Economist in the research and economics department at Reis, an industry leader in providing comprehensive and unbiased data that is used by commercial real estate professionals. Before  Reis, she served as Chief Economist at Eastern Consolidated, and Research Manager at Jones Lang LaSalle.  She created the New York STAT, an economic newsletter for New York City after serving as Research Director at Colliers ABR. Her original research has appeared in The Real Estate Finance Journal. Her white papers and assessments of market conditions have appeared in international publications like The Economist, The Wall Street Journal, The New York Times, The Financial Times and Crain’s New York Business, and she has appeared on Bloomberg TV.

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February 23, 2017

Video: Steven Marks of Fitch Ratings Reviews Performance and Provide and Outlook for Industrial Property REITs

Steven Marks, Managing Director of Fitch Ratings, discusses industrial property REITs with The Commercial Real Estate Show host Michael Bull,  He reviews performance and provides some forecasts and tips in this short video. Some highlights include:

  • Total return of 2016 was around 35% compared to broader REITs in the low 20s and the S&P 500 in the mid 20s
  • Think industrial will be one of best performers in 2017 driven by
    • slow and steady economic growth
    • strong demand for internet retail sales
    • supply remains relatively in check
  • Market appears to be in equilibrium, with new inventory being absorbed
  • Online sales are growing at a fast clip, driving incremental demand
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February 22, 2017

Video: Reis Senior Economist Barbara Denham Provides U.S. Industrial Property Market Update

In this brief video, Barbara Denham, Senior Economist at Reis,  discusses the industrial property market nationally, including performance and trends in rent and vacancy.  During this video a chart is displayed showing, over the past several years, steady rent growth and a (likewise) steady decline in vacancy rates.  Ms. Denham notes that last year 78 million square feet of industrial property was constructed, and a similar amount is projected over the next year.  She further noted that they projection 100 million square feet of absorption, and thus a declining vacancy rate. She stated that they project rent growth to lessen to about 2.4% over the year. Asked about the impact of the election of Trump to the Presidency, she opined that – particularly if a trade war ensues – industrial property could definitely be impacted, but that they have not yet including any such effect in their projections.

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February 22, 2017

Miami Commercial Real Estate News February 21, 2017: Metromover to Miami Beach Planned; Perez Trump Relationship Strained; More…

Miami-Dade plans metromover route to Miami Beach within potential $3.6B transit plan

Miami-Dade has mapped out the six corridors of its Strategic Miami Area Rapid Transit (SMART) plan, per Miami Today, with a potential cost of up to $3.6 billion. While the funding sources haven’t been sorted out yet, among the plan’s highlights is an elevated Metromover along 3.3 miles of the MacArthur Causeway, connecting Museum Park Station in downtown Miami to a new station at Fifth Street and Alton Road in Miami Beach. Other components include five at-grade routes, which would obviously be more cost effective…

Brickell getting unique mixed-use development near I-95

Work may begin soon on a unique mixed-use development in the shadow of I-95. Called Megacenter Brickell, the project plans to combine multi-family apartments with office, retail, self-storage and parking on a high-profile site where the Brickell area meets East Little Havana. The project is to include two buildings at 420 SW Seventh Street and 427 SW Eighth Street, from Megacenter Brickell LLC, which is affiliated with Megacenter U.S. Pablo Wichmann, president of real estate, said the company is lining up its final permits…

Politics strain Trump’s friendship with Jorge Pérez

Political differences have strained the long friendship of President Donald Trump and Miami-based real estate developer and art philanthropist Jorge Pérez. Since Pérez called Trump’s plan to build a Mexican-border wall “idiotic” in a Jan. 31 Bloomberg News article, the president has stopped responding to emails from the top executive of Miami-based Related Group, the New York Times reported. Pérez opposes Trump on other issues, including the president’s support for a possible reversal of the U.S. trade opening…

Strategic Miami Area Rapid Transit plan firmed up

Miami-Dade officials have just mapped out their overarching Strategic Miami Area Rapid Transit (SMART) plan, eliminating some key unknowns, but are still analyzing where to find money to fund its six corridors. For the first time, now plans include price tags, up to $3.6 billion. Commission Chair Esteban Bovo Jr.’s Policy Council Committee, which he said was set up to discuss such pressing priorities, including transportation, met for the first time last week. For transportation, it’s important to speak about funding, Mr. Bovo…

Is Allapattah The Next Hot Miami Neighborhood?

The working-class enclave is the newest chapter in the by-now familiar Miami story of gentrification: first come the edgy art people, then bars, and finally big investors snapping up properties and planning big projects.

Miami Costco Could Be Replaced By Health Care Campus

The Costco Wholesale store just southwest of Miami International Airport could be replaced by a health care campus featuring medical offices and senior housing. Miami-Dade County officials received a pre-application on Feb. 8 by 8300 Healthcare Partners, managed by Michael Wohl and Stephen A. Blumenthal, to building the project at 8300 Park Boulevard. The 11.3-acre site is currently owned by Costco (Nasdaq: COST) but it is under contract to the applicant, who would demolish the 146,599-square-foot store from 1989.

Governor Scott Offers $10 Billion For Transportation Spending, PortMiami In Proposed Budget

The Governor wants to allocate $19 million to PortMiami for crane and cargo improvements and $178 million for ports statewide supporting about 900,000 jobs.

Your property was hit with an ADA lawsuit – now what?

Over the last couple of years, Florida has seen a proliferation of lawsuits alleging violations of Title III of the Americans with Disabilities Act (“ADA”). Many of the cases are filed by “serial” filers – plaintiffs that have each filed dozens or even hundreds of lawsuits against various…

Miami’s 9 hottest developments under construction, mapped

Focused on Miami’s core neighborhoods like Brickell and Downtown While the state of Miami development appears to be cooling from its previously frenetic (and unsustainable) pace, the Magic City continues to balloon with high-rises under construction across a slew of active neighborhoods. Nowhere is…

Banks backing away from apartment projects

From the New York website: Banks are shying away from financing new apartment projects as supply starts to outpace demand. This year more than 378,000 new apartments are expected to be…

Portfolio Sales of Smaller Industrial Properties Surging as Institutional Investors Jump On ‘Last Mile’ Logistics Bandwagon

In recent months, major investors have increasingly turned their focus on light industrial properties capable of serving as “last mile” conduits in the race to achieve same-day delivery by e-commerce firms. Typically smaller, older and less efficient than their bulk warehouse counterparts, these…

H Greg Miami Leases 97,000 SF

H Greg Miami Inc. signed a lease for 96,920 square feet in the industrial building at 1900 NW 92nd Ave. in Doral, FL. The single-story, 145,260-square-foot Bristol Logistics Center was built in 1982 in the Miami Airport West Industrial submarket, within the Fingerlakes Industrial Park.

5 Apps That Are Revolutionizing the Commercial Real Estate Industry

Learn how to use your smartphone or tablet to help find and manage commercial real estate. With mobile Internet access having overtaken desktop access in 2014, according to comScore, it’s no surprise that apps are becoming more popular for all professions – including the commercial real estate…

How Builders, Investors, and Developers are Using Building Information Modeling (BIM) Software to Make Smarter Choices

BIM models help reduce risk, cut inefficiencies, and streamline the development, design, and construction process. For most construction companies and architectural firms, 3D building modeling is now the norm. And each year, more and more companies are taking advantage of the range of benefits from…

What To Expect From The Debt Markets In 2017

This is a good time to be a borrower, according to Jeff Erxleben, executive vice president and regional manager in the Dallas office of real estate debt and equity provider NorthMarq Capital. All types of capital providers—banks, insurance companies, conduit lenders and private equity funds—are…

Construction dispute between builder and company sparks lawsuit

Since Miami is such an attractive location, there will inevitably be a great amount of construction in the city. Businesses that wish to take advantage of tourism and the agreeable climate will seek to get a construction project going as quickly as possible. However, there are times when there will…

Florida Partition Law (December 2016 Update)

Within the State of Florida especially, it is common to encounter real properties encumbered to more than one party– be it by inheritance, speculative investment, marriage, or some other such instance of shared ownership or tenancy in real estate. When these relationships…

Miami artists team up for Wynwood mural project to bring awareness to sea-level rise

Partnering with local startup Saltmates, focused on fostering the ocean lifestyle and its community Miami startup Saltmates, an app focused on connecting nearby ocean lovers while also taking direct action on environmental issues, partnered with PangeaSeed Foundation’s Sea Walls initiatives last…

Yellen says more interest-rate hikes may be on the horizon

From the New York website: More interest-rate hikes may be on the way if inflation keeps rising and labor markets continue to tighten. Federal Reserve Chair Janet Yellen on Tuesday delivered her first semiannual report on monetary policy since Donald Trump took…

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February 21, 2017

Video: Forecasting the Office Market with CoStar’s Director of Office Property Research: Cap Rate Forecasts; NOI Growth Projections; More…

Walter Page, Director of Office Property Research with CoStar makes forecasts for the office property market forecast for 2017 and beyond, including interest rates, cap rates, and demand in this video from The Commercial Real Estate Show.

He notes that cap rates have been flat for office properties in the prior year, holding at 5.7% for institutional office properties and 7% for the median of the market office properties, which he specifies as class B office buildings.  He believes the end of cap rate decreases are due to perceived growth prospects diminishing and an increasing expectation of rising interest rates.  He forecasts a 20-30 BP increase in cap rates next 2 to 3 years, which would translate into a drop in values but for projected NOI growth.  He believes that NOI growth will more or less offset the drop from increasing cap rates, resulting in stable values for the next couple of years.

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February 20, 2017

Video Profile: Downtown Miami At A Glance

Just when people started to think they have a focus on downtown Miami it changes. The one thing constant in downtown is change you blink it changes. One just need look at the last 10 years at Miami’s urban core to see that this it is one of the fastest evolving areas anywhere in the world.

Miami has become a global center with over five billion dollars of international investment in the last few years alone. Investors who see downtown Miami as an epicenter for trade and commerce as the Wall Street of the South. It is a place where property values have been on the rise, and it’s a great place to live.

Practically no one was living in downtown Miami at the turn of the millennium. Now, there are more than 80 residential developments built between 2003 and 2008. In fact more than 24,000 new condos have come online. Now, they are fully occupied with young professionals ,families and city-dwellers, entertaining themselves downtown at nigh. Downtown has experienced more than eighty percent growth over the last 10 years. Its residents are being joined by newcomers moving into developments like Brickell City Centre and others. There are now more than 300 restaurants downtown, open and doing well. There are about a dozen new luxury hotels with over 6,000 top quality hotel rooms.

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February 16, 2017

Green Street says Mexican Fibras Adopting REIT Best Practices

In this REIT.com interview David de la Rosa, vice president with Green Street’s Advisory & Consulting, shares an overview of the Fibra market. A Fibra is an investment trust vehicle under the laws of Mexico that is dedicated to the acquisition and also the development of real estate assets within Mexico that are intended for leasing. FIBRAs are similar to real estate investment trusts, or REITs, in the United States. This vehicle provides a new investment opportunity for investors. The Fibra market, in which Mexian pension funds are major investors, is expected to grow quite rapidly in size. Green Street Advisory and Consulting has served as strategic advisor to numbers of real estate companies in Canada, Mexico, and Europe.

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February 15, 2017

Video: CNBC Discusses Data Center Real Estate and the REITs That Own It

CNBC’s Nightly Business Report discusses the Data Center REIT sector, which sits at the crossroads between technology and real estate. Data centers present investors with unique analytical challenges, including risk assessment of technology-driven economic obsolescence. However, there is opportunity for those investors willing to undertake the analytical effort of understanding the sector.

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February 15, 2017