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.
International Visitors Fuel South Florida Industrial
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…
What’s the big deal with Lee & Associates?
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…