NEWS

Lee & Associates South Florida, one of the largest privately owned national real estate firms that has recently expanded into South Florida, has just announced their latest addition of Calum Winsor as Vice President of Retail Investment Sales. Prior to joining Lee & Associates Miami, Calum acted as Senior Associate with the GLT Group assisting investment clients across several asset types including Retail, Office, Multifamily, Hotel and Land. Calum has also spent time working with…

The Panama Canal expansion, which began commercial operation in 2016, has added a wider traffic lane and doubled its capacity to accommodate large container ships. These ships carry over 13,000 TEUs and some exceed 22,000 TEUs. Because of the influx in large ships, seaports across the globe are experiencing bottlenecks, customs delays and the need for bigger cranes. Many ports, including PortMiami, have undergone improvement projects to better accommodate the ships. Recent infrastructure improvements totaling…

Developers like Prologis are now pursuing multistory warehouses in places like New York City, Seattle and the Bay Area. Amazon has also been reportedly building multistory distribution centers around the country in less dense areas like a Milwaukee suburb and a town outside Raleigh, North Carolina.

In addition to supporting retail real estate such as Sawgrass Mills, the second-largest tourist destination in Florida after Disney World, and American Dream Miami, the largest proposed mall in the U.S., South Florida’s international tourism and consumer buying power are fueling an industrial boom and institutional investors are taking note. The majority of South Florida industrial users are seeking space to house merchandise for brick and mortar retail and e-commerce, especially near transportation centers, to streamline the packaging…

Lee & Associates, a national commercial real estate brokerage on an 85% growth clip over the past five years, arrives in South Florida with a splash, christening fourth-generation Miami native and veteran CRE Broker Matt Rotolante as President to lead its southernmost office. “Right now, there is a great opportunity for senior agents with a track record of performance to come onboard as partners. We’ve got a Ferrari sitting on the track with its engine…

The program allows developers or investors to delay and potentially forgo paying some capital gains taxes if they invest in an opportunity zone for at least 10 years.

As high-net-worth (HNW) investors zone in on commercial real estate opportunities for 2019, Opportunity Zones, multifamily, marijuana, retail and industrial are emerging as some of the key areas to watch. Real estate investments made next year by HNW investors should be weighed against rising interest rates and the prolonged economic expansion, according to Doug Brien, co-founder and CEO of Oakland, Calif.-based Mynd Property Management, which specializes in multifamily assets. “For deals to make sense, investors will need…

Florida East Coast Industries just sold a warehouse near Miami International Airport for $31.1 million to a subsidiary of JPMorgan Asset Management. Coral Gables-based FECI sold the 9.2-acre property at 3200 Northwest 67th Avenue for $3.4 million per acre, property records show. The warehouse is part of the South Florida Logistics Center, a master-planned business park with 2 million square feet of Class-A warehouse and distribution facilities. The South Florida Logistics Center has a direct connection…

Recent Market Research for The Miami-Dade County industrial market for the third quarter was no surprise in reporting high absorption and low vacancy. But a closer look at it turned up Hialeah Gardens as part of the next push outward. It’s a submarket approximately 10 miles north of Miami International Airport. Duke Realty purchased three newly constructed industrial buildings last year and, to date, has leased approximately 530,000 square feet to distribution-related businesses. “Hialeah Gardens…