DAVIE, FL (March 15, 2024) – Lee & Associates South Florida Principal Greg Milopoulos and Vice President Christian Baena successfully brokered the $3.45 million sale of a commercial property in Davie, Florida. At $415 per square foot, the transaction set a new price per square foot record for the submarket. It did not include the sale of the business. The sale of the 2601 Reese Road property closed on March 12. Glenn’s Automotive was the seller….
Lee & Associates South Florida Promotes Industrial Specialist Conner Milford to Senior Vice President
MIAMI, Florida— February 29, 2024 — Lee & Associates South Florida promoted a pivotal member of its team of industrial real estate specialists, with Conner Milford becoming a Senior Vice President with the firm. Based in Miami, Milford was previously Vice President. Milford started at Lee & Associates South Florida in 2019, after spending the five previous years working on the real estate side of a publicly traded real estate investment trust that operates in…
Lee & Associates South Florida Welcomes Ben Key as Principal
MIAMI, Florida—February 22, 2024 — Lee & Associates South Florida strengthened its market-leading team of talented commercial real estate brokers with the addition of Ben Key as Principal. Operating out of the firm’s Miami and Deerfield Beach offices, Key brings a diversified 20-year background in various components of real estate brokerage and management. Key specializes in retail and industrial value-add, leasing, acquisitions, dispositions and property management. He has expertise in the transformation of underperforming properties and…
Lee & Associates South Florida Closes Sale of Industrial Building in Homestead
MIAMI, FL (February 16, 2024) – Lee & Associates South Florida Senior Vice President Andrew Whitby completed the sale of a Homestead industrial building. The $2.2 million transaction closed on Jan. 18. Whitby marketed the 145 SW 3rd Ave. property on behalf of seller Holiday Professionals LLC, and also represented buyer Charles Fizer. The 10,118-square-foot building is located on a 20,250-square-foot lot with an additional 6,750-square-foot vacant lot adjacent to the property included in the…
Lee & Associates South Florida Closes Single Tenant 29,000 square foot Industrial Property Sale in Fort Lauderdale
MIAMI, FL (February 9, 2024) – Lee & Associates South Florida Principal Greg Milopoulos and Vice President Christian Baena successfully brokered the sale of a Fort Lauderdale warehouse off market to Stonelake Capital Partners which closed January 9 of this year. The duo has also been retained by the new owner to exclusively lease the 29,000 sf warehouse with plans to bring it to market this summer. “We leveraged existing relationships with both the seller and…
Lee & Associates South Florida Bolsters Multifamily Team with Addition of Luisa Pena as Principal
MIAMI, Florida—February 6, 2024 — Lee & Associates South Florida further strengthened its market-leading team of talented commercial real estate brokers, with Luisa Pena joining the firm as Principal. Based in Miami, Pena has more than 15 years of experience in the real estate arena and specializes in multifamily investment properties. A South Florida native and second-generation real estate professional, Pena’s extensive market knowledge and robust network provide a distinct competitive advantage. Prior to joining Lee…
Apartment Vacancies Up, Rents Stabilize in South Florida
Apartment Vacancies Up, Rents Stabilize in South Florida By Erik Bojnansky – South Florida Business Journal January 30, 2024 The multifamily apartment vacancy rate in South Florida’s tri-county area ticked upward as developers build, and finish, more apartments, a recent market report stated. According to a Q4 2023 multifamily market overview by Lee & Associates Commercial Real Estate Services, the multifamily vacancy for Miami-Dade, Broward, and Palm Beach counties was 5.6%. In comparison,…
Lee & Associates South Florida Q4 Report: Vacancies Climb in Industrial and Multifamily Sectors
Lee & Associates South Florida Q4 Report: Vacancies Climb in Industrial and Multifamily Sectors Local office and retail markets hold steady amid broader real estate and economic headwinds… MIAMI, FL (January 30, 2023) – South Florida’s industrial and multifamily markets saw notable year-over-year increases in vacancies, according to Lee & Associates South Florida’s Q4 2023 market report. The region’s office and retail sectors managed to keep vacancies in check, with the office market bucking…
Michael Avendano Promoted to Senior Vice President on South Florida Industrial Team
MIAMI, Florida— January 10, 2024 — Lee & Associates South Florida promoted a pivotal member of its team of industrial real estate specialists, with Michael Avendano becoming a Senior Vice President with the firm. Based in Miami, Avendano was previously Vice President. Michael Avendano joined Lee & Associates South Florida in 2020, following two years with Beacon Commercial Realty. He specializes in industrial sales and leasing. Avendano has a deep understanding of the tech and…