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…
Trump Boosts Federal Resources To Opportunity Zones, As Real Estate Investors Keep Pouring In
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.
Marijuana-Related Properties, Industrial, Opportunity Zones Among Best CRE Bets For Investors In 2019
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 Unloads Warehouse For $31.1 Million
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…
Hialeah Gardens Identified As Next Push Outward For Miami’s Industrial Market
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…
Lee & Associates Miami President, Matthew Rotolante, Speaks with Globe St On The Benefits of Becoming a Lee Agent
Globe St interviews Lee & Associates leaders Jeffrey Rinkov, CEO of Lee & Associates, Matthew Rotolante, President of Lee & Associates Miami, and Brian Lynch, President of Lee & Associates New Jersey, at the Lee & Associates 2018 Brokers Summit in Las Vegas. Lee & Associates is the largest broker-owned firm in the country and has implemented a rapid expansion plan in recent years, including the addition of Matt Rotolante’s brokerage operation in the South…
The Surprising Impact Of E-Commerce On Urban Real Estate Markets
There has been plenty written about the impact of e-commerce on retail infrastructure. Store closings and malls struggling to redefine their purpose have been the subject of major stories in a variety of mainstream media outlets. Reading those stories, it’s easy to get the impression that e-commerce is cratering real estate markets and creating ghost towns. That’s hardly the case, at least not in many major cities where e-commerce has actually had the opposite effect by increasing…
Blistering Demand For Industrial Space Drives Up National Occupancies, Sets Off A Wave Of Development
U.S. industrial absorption is on track to finish 2018 with its third-strongest net occupancy growth this cycle for industrial space, behind only 2016 and 2014, according to Cushman & Wakefield’s Q3 2018 report on the industrial market. That finding agrees with other recent assessments of the market. Moreover, the outlook is bright for more occupancy growth across all classes of industrial product. The combination of limited new product and high utilization rates for existing footprints will mean strong performance…
Conditions Ripe For More Multistory Warehouses In Densely Populated Cities… Including Miami
Multistory warehouses are becoming more common in densely populated metropolitan areas. Seattle, San Francisco, New York, Miami, Chicago and Los Angeles are the most favorable markets for this type of industrial development to take place due to the high land prices, dense population and the high concentration of e-commerce shoppers in these markets. The multistory warehouse trend is just starting to emerge in the U.S., CBRE reports. The recently completed three-story, 590K SF Prologis Georgetown Crossroads…