NEWS

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…

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   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 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…

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…

Defying Gravity: Why Many Industry Insiders Have Faith in Class A Office   By  Erik Bojnansky  –  South Florida Business Journal January 4, 2024   The migration of out-of-state businesses to South Florida during the pandemic triggered a hunger for quality office space that can attract both clients and talented employees. Yet with numerous companies scaling back on the size of their spaces, some industry insiders believe that South Florida’s office rents may have hit…

‘Limited availability keeps Grove’s office market strong’ By Janetsky Lugo  –  Miami Today January 4th, 2024   Coconut Grove office occupancy rates and demand arc holding strong, driven in part by the area’s limited availability of office space. The Grove’s lack of new office space development continues to contribute to South Florida’s lowest office submarket vacancy percentage, which in December was 3% vacancy in Class A and B space combined, said Bert Checa, a principal…

Plans for apartments in West Palm Beach south end move forward; some residents concerned The project planned for 8111 S. Dixie Highway along the C-51 canal includes 358 units, including 90 for workforce housing, and 17,000 square feet of retail space for shops and restaurant   By  Kimberly Miller –  Palm Beach Post December 29, 2023   A proposal for an eight-story apartment building in West Palm Beach’s south end is one step closer to fruition…

MIAMI, FL (NOVEMBER 27, 2023) – Lee & Associates South Florida Vice President Michael Avendano successfully represented a Pharmaceutical company in a new industrial lease in Doral. The company leased 12,800 square feet within Prologis Beacon Industrial Park. Avendano negotiated the five-year lease on the tenant’s behalf. Located at 10913 NW 30th St. Suite 102, the warehouse includes 24’ clear height, one drive-in bay, five loading docks and 2,764 square feet of office space. The…