MIAMI, FL (DECEMBER 18, 2024) – Lee & Associates South Florida is pleased to highlight the exceptional work of its newest Principal, Michael Hinton, CCIM, who recently joined the firm. Michael played a pivotal role in the successful sale of the assemblage of properties located at 409 & 345 NE 36th Street, Miami, FL. Those two properties were combined with 3601 Biscayne Blvd for total land area of 1.6 acres and a combined price of $53…
Celebrating 20 Years of Excellence: C. Todd Everett, SIOR, Marks a Major Career Milestone
MIAMI, Florida—December 10, 2024 — Lee & Associates South Florida is proud to celebrate C. Todd Everett, SIOR, on his 20-year anniversary as a distinguished member of the Society of Industrial and Office Realtors (SIOR). Since earning this prestigious designation in 2004, Todd has exemplified excellence in the commercial real estate industry, specializing in office and industrial investment sales. His nearly three-decade-long career is marked by significant achievements and an honorable reputation in the marketplace….
Vacant Miami Retail Space? Good Luck Finding It.
Why the Magic City has such low vacancy now for storefronts and restaurants By Julia Echikson – Commercial Observer December 3, 2024 In Miami, even a retail miss can be a retail win. Take the Key Club. The American bistro was on a busy corner in the heart of the coveted Coconut Grove neighborhood. The concept was also the brainchild of David Grutman, the king of Miami nightlife, who had launched culinary hot spots…
Tighter Beach Office Market Seeing Record-Breaking Rates
‘Tighter Beach Office Market Seeing Record-Breaking Rates’ By Abrahan Galvan – Miami Today November 14th, 2024 The Miami Beach office space market is seeing record-breaking asking rates, according to local office leasing experts. The asking rent rate in Miami Beach right now is as high as $120, which is an almost 30% increase year-over-year, said Stephen Rutchik, the vice chairman of office services at Colliers International. “We’re seeing continued growth in the rental rate market,…
Brighter Year Seen in Lincoln Road as City’s Retail Vacancy Rate at 10%
‘Brighter year seen in Lincoln Road as city’s retail vacancy rate at 10% By Abraham Galvan – Miami Today October 10, 2024 The retail real estate market in Miami Beach is gearing up to have a bright 2025, according to local commercial and retail real estate experts. Lincoln Road is going to be heard from in 2025, said Jonathan Carter, Colliers’ executive managing director. Big-name restaurants like Mila and Andrés Carne de Res are…
Lee & Associates South Florida Welcomes Garrick Benabe as Principal
MIAMI, Florida—November 11, 2024 — Lee & Associates South Florida significantly strengthened its hospitality brokerage capabilities with the addition of Garrick Benabe as Principal. Based in Miami, Benabe is a hospitality investment sales specialist with a knack for handling complex transactions. An award-winning power broker, Benabe most recently served as Director of Hospitality Investments at APEX Capital Realty. In that role, he led initiatives in hotel development, acquisitions and dispositions. Benabe’s previous experience includes working…
Lee & Associates South Florida Q3 Report: Office Market Demonstrates Resilience Amid National Slowdown
Lee & Associates South Florida Q3 Report: Office Market Demonstrates Resilience Amid National Slowdown Local multifamily and industrial sectors soften in third quarter of 2024, while retail maintains strong performance… MIAMI, FL (October 23, 2024) – South Florida’s office market is not experiencing the doom and gloom reported in other parts of the country, according to Lee & Associates South Florida’s Q3 2024 market report. The local multifamily and industrial sectors saw sharp vacancy…
Lee & Associates South Florida Brokers Multifamily Development Site Transaction in Miami
MIAMI, FL (OCTOBER 14, 2024) – Lee & Associates South Florida Principal Todd Cohen completed the $6 million sale of a shovel-ready multifamily development site near the Golden Glades Interchange in Miami-Dade County. The buyer plans to develop a 100-unit building on the 4.04-acre property at 190 NW 162nd St. Water Park Villas, LLC, an existing client of Lee & Associates South Florida, sold the site to Murat Capital Partners, LLC. Entitlements and site plan…
Retail rents and vacancies tick up, market demand strong
‘Retail rents and vacancies tick up, market demand strong’ Miami-Dade retail rents and vacancies have risen slightly but remain steady, according to local experts. By Abraham Galvan – Miami Today October 10, 2024 Miami-Dade retail rents and vacancies have risen slightly but remain steady, according to local experts. The vacancy rate is around 2.7% right now, with about 1.3 million square feet of retail space under construction and around 861,000 square feet that was…