MIAMI, Florida—October 24, 2023 — Lee & Associates South Florida bolstered its market-leading team of talented commercial real estate brokers with the arrival of Bert Checa as Principal. Based in Miami, Checa brings 20 years of office leasing experience and more than three million square feet in completed transactions. Prior to joining Lee & Associates, Bert Checa served as a Vice President in Transwestern’s Office Agency Leasing Group for South Florida. He has extensive knowledge of…
E-Commerce Drives Demand in Strong Industrial Space Market
E-commerce drives industrial space demand By Abraham Galvan – Miami Today October 10th, 2023 The warehouse space market continues to be solid throughout Miami-Dade County, according to local industrial real estate experts. The underlying cause of demand is still e-commerce, said Dalton Easton, an associate at The Easton Group. “It’s certainly not historic levels that we had in the last 12 to 18 months,” he said. “It’s safe to say the majority of the folks in…
Lee & Associates South Florida Closes Sale of Industrial Building in Deerfield Beach
DEERFIELD BEACH, FL (September 22, 2023) – Lee & Associates South Florida Principal William Domsky completed the sale of a Deerfield Beach industrial building. The $2.9 million transaction closed on Sept. 19. Domsky marketed the 3350-3370 SW 15th St. property on behalf of seller 3370, LLC. Starwest Holdings, LLC is the buyer. The 10,978-square-foot building is located on an oversized and fenced 1.2-acre lot, providing ample room for truck and trailer parking. The freestanding building…
Lee & Associates South Florida Completes Sale of Downtown Fort Lauderdale Commercial Building
MIAMI, FL (September 1, 2023) – Lee & Associates South Florida Principal, Greg Milopoulos, closed the sale of a downtown Fort Lauderdale commercial building that has future redevelopment potential. The $2.425 million transaction closed on Aug. 24 above the initial asking price. Milopoulos marketed the 900-901 N. Andrews Ave. site on behalf of seller John Mar III LLC. KP Storage LLC is the buyer. The property includes a 3,941-square-foot retail/industrial building and vacant lot encompassing…
Lee & Associates South Florida Closes Sale of Miami Industrial Building
MIAMI, FL (August 24, 2023) – Lee & Associates South Florida Senior Vice President Andrew Whitby successfully brokered the sale of an industrial building in Miami’s Cutler Bay submarket. The $1.82 million transaction closed on August 18th. Whitby represented seller Overholt Construction Corp., which sold the 6,140-square-foot warehouse to Brian Smith. The 18631-18637 SW 105th Ave. property also includes 2,995 square feet of office space. The site has excellent access to Florida’s Turnpike and U.S….
Lee & Associates South Florida Q2 Market Report: Multifamily Vacancies Creep Up as Rents Stabilize
Lee & Associates South Florida Q2 Report: Multifamily Vacancies Creep Up as Rents Stabilize Local office sector to be tested by anticipated delivery of more than 8.4 million square feet of new construction by 2026… MIAMI, FL (July 20, 2023) – South Florida’s multifamily sector is experiencing an increase in vacancies and flattening of apartment rents, according to Lee & Associates South Florida’s Q2 2023 market report. The region’s office market is bracing for…
Lee & Associates South Florida Represents GALBI Steakhouse & Sushi in Lease for its First Florida Location
MIAMI, FL (July 10, 2023) – Lee & Associates South Florida just brokered a deal that facilitates the Florida debut of an exciting restaurant concept. Firm Senior Vice President Matthew Katzen represented GALBI Steakhouse & Sushi in a new lease at Hyde Beach House in Hollywood. The new-to-market GALBI plans to open its first location outside of Connecticut on the ground floor of Hyde Beach House at 4010 S. Ocean Drive. The 10-year, triple-net (NNN)…
What Terra’s exit from record $1.2B Miami land deal signals for the market
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…