The question of market value arises with single tenant big box drugstore properties, particularly where the property is vacant or soon to be vacant. To get at this, we first queried Costar for sales in the prior year for the entire USA of 10-20k sf “drugstore” properties for single tenant occupancy. The distribution chart above […]
Starting October 1, 2025, Florida will eliminate the sales tax on commercial real estate leases, marking a significant change for landlords and tenants alike. This repeal applies not only to the state-level sales tax but also to the local discretionary surtaxes that have historically added up to 1.5% in many counties. With this move, Florida […]
The above charts known sales of industrial condo units in Park Centre Business Park (Park Center Business Park) from 2018 through the second half of 2025. I (James Hawkins) brokered more than half of these sales, specifically the ones highlighted in light yellow. The square footage and price per square foot are displayed both using […]
The Port of Miami Tunnel was conceived as a solution to longstanding traffic bottlenecks in downtown Miami, aiming to provide a direct link between the Port of Miami and major thoroughfares I-395 and I-95. The project broke ground in May 2010 and reached substantial completion on August 3, 2014. As seen in the EarthCam time-lapse […]
Economic uncertainty related to trade policy has spiked to unprecedented levels, driven by erratic political shifts and a barrage of rapidly changing tariffs. While some interpret this as a strategic maneuver, the effects are measurable regardless of intent. The chart above, based on the Fed’s Economic Policy Uncertainty Index for trade policy, highlights the current […]
In Florida, many business owners choose to separate the ownership of their operating business and their real estate into two LLCs — one for the business and one for the property. This structure is often used to manage liability, create flexibility for estate or exit planning, and improve financing options. However, it’s not without drawbacks, […]
A recurring question in multifamily development involves the viability of 5-story projects. While zoning under the Live Local Act may allow for greater height and density, in practice, many sites face economic height constraints. That is, although taller buildings may be permitted, the marginal cost of construction per unit rises significantly with each additional story—often […]
In my practice brokering commercial real estate and businesses, I encounter situations where sellers wish to package their real estate with a struggling business, inflating the asking price beyond the property’s fair market value as they assign value to the operating business. A recent example illustrates this: A seller was offering both their property and […]
The chart above is of the 5-Year breakeven inflation rate, commonly referred to as the TIPS spread, for the five year period ending on January 7, 2025. This illustrates the difference in the yields, i.e. the spread, between United States Treasury bonds and Treasury Inflation-Protected Securities (TIPS) of the same maturity. This is a useful […]
Anyone that has had the pleasure of driving across the bridge to Key Biscayne, or even better, to walk, bike, or run on it, has to have noticed what a great view one gets of Miami’s rapidly growing skyline, the 3rd most dense in North America. What one can lose track of is just how […]
Insurance is an issue in Florida. As a commercial real estate broker, I run into it all the time. It is either decreasing net operating income for an investor or increasing association fees on an industrial condo for an owner user or something. Its effect is everywhere. I’ve found owners can look at insurance as […]
Disclaimer: I’m not a banker. The following is upon information and belief only, provided here for general familiarity. Do not rely on content in this post for investment or borrowing related decisions. Confirm/obtain all your information on SBA financing from a financing institution or lending professional. In the world of business, seizing opportunities often hinges […]
Understanding the Yield Curve The yield curve is a graphical representation of interest rates on debts for a range of maturities. Typically, it compares the yields on short-term and long-term Treasury securities. The most commonly analyzed yield curve is the difference between the 10-year Treasury note and the 2-year Treasury note, often referred to as […]
Florida Senate Bill 50 will go into effect on June 1, 2024. This will result in a reduction of more than 50% in the state’s commercial lease tax from 4.5% to 2.0%. However, this decline does not extend to any fees or taxes at the local level. In Miami-Dade, Broward, and Palm Beach counties, the […]
The Discussion: The Future of the Housing Market and Commercial Real Estate; Insights from Industry Leader Don Peebles Introduction: Recent data indicate that the housing market is beginning to cool, as evidenced by an increase in “For Sale” signs and a rise in new mortgage applications. The market is experiencing a complex interplay of factors […]
Multifamily properties offered for sale generally go up on one or more listings platforms, one of which is the commercial MLS. It has seemed that there has been a rash of multifamily listings in recent weeks. Conveniently, the commercial MLS allows one to checks such a perception by viewing active listings counts over time, filtered […]
