What Terra’s exit from record $1.2B Miami land deal signals for the market Terra sought extension, amendments to purchase of Genting assemblage. By Katherine Kallergis – The Real Deal June 28, 2023 The shock is wearing off from developer David Martin’s decision to pull the plug on a record $1.2 billion purchase of a waterfront assemblage in Miami. A reality check dusted with disappointment is setting in, brokers say. Smart City Miami, the Terra-led group…
Miami Today Discuss Industrial Real Estate Market with Matt Rotolante, ‘Industrial Real Estate in Miami is Always a Good Bet’
‘Industrial real estate in Miami is always a good bet’ By Abraham Galvan – Miami Today May 11th, 2023 Miami-Dade County industrial space vacancy currently sites around 2.3% as rental rates remain competitive, according to local warehouse real estate experts. Toward the end of 2022, industrial vacancies were at 2.8% and that now has gone down to 2.3%, which could be the tightest market ever seen in the county, according to Matt Rotolante, president for Lee…
Lee & Associates South Florida Adds Todd Cohen as Principal
MIAMI, Florida—May 3, 2023 — Lee & Associates South Florida continues to expand its market-leading team of talented commercial real estate brokers, with industry veteran Todd Cohen joining the firm as Principal. Cohen will maintain his established TCC Advisors brand and integrate it into Lee & Associates South Florida. Cohen will split time between the firm’s Miami and Deerfield Beach offices and focus on investment sales throughout Florida and nationally. He has more than 25…
Apartment Vacancies on the Rise in South Florida, Report Says
Apartment Vacancies on the Rise in South Florida, Report Says By Erik Bojnansky – South Florida Business Journal May 3, 2023 There were more empty South Florida apartment units in the first quarter of 2023 than the previous four quarters, a recent report stated. What is the vacancy rate in the Miami, Fort Lauderdale and West Palm Beach metro? According to a multifamily (apartment) market report from the brokerage Lee & Associates, South…
Industrial Landlords More Willing to Negotiate Lease Terms, Report Says
Industrial Landlords More Willing to Negotiate Lease Terms, Report Says By Erik Bojnansky – South Florida Business Journal May 1, 2023 Although rents continue to rise in South Florida, landlords are more willing to negotiate with tenants on lease terms, a recent brokerage report states. According to Lee & Associates’ industrial market overview report, the average asking rent for an industrial space was $15.40 per square in the first quarter of 2023, a 28.23%…
Lee & Associates Q1 Report: South Florida’s Retail Sector Continues to Outperform National Average, Multifamily Market Softens
South Florida’s Q1 Market Report Shows Region’s Retail Sector Continues to Outperform National Average, Multifamily Market Softens Local industrial and office sectors record relatively flat vacancies year-over-year, but demand remains strong… MIAMI, FL (April 27, 2023) – South Florida maintained its status as a national retail sector standout in the first quarter of 2023, according to Lee & Associates South Florida’s Q1 2023 market report. The region’s multifamily market continues to soften, however, with…
Forecasting a 50% Cut in Industrial Big Box Construction Groundbreakings
Forecasting a 50% Cut in Industrial Big Box Construction Groundbreakings Too many financial headwinds for the Industrial sector to continue its strong performance. By Richard Berger – GlobeSt April 10, 2023 Industrial big box construction has performed well lately, but CBRE expects lease transaction volume to dip significantly this year, falling by 50%. The post-peak pandemic leasing rush is waning, according to CBRE, and some tenants are waiting for more macroeconomic certainty. A record level…
Going High-Rent in Humble Hialeah
Going High-Rent in Humble Hialeah The mostly Spanish-speaking, working class city west of Miami is getting a residential makeover By Mike Seemuth – Commercial Observer April 3, 2023 With a majority Spanish-speaking population west of Miami that’s approaching a quarter million, Hialeah is the sixth-largest city in Florida — and the least diverse because it’s so overwhelmingly Latino. The working-class city, just a few miles north of Miami International Airport, is in the geographic center of Miami-Dade…
Accomplished Industrial Brokers Join Lee & Associates South Florida
MIAMI, Florida—March 30, 2023 — Lee & Associates South Florida further strengthened its market-leading team of industrial real estate specialists with the partnership arrival of new Principal Greg Milopoulos and Vice President Christian Baena. The duo has more than 20 years of development, investments sales, landlord and tenant representation experience in the region. Based in Lee & Associates South Florida’s Deerfield Beach office, Milopoulos will head up the firm’s Broward County industrial activities while Baena…