Miami

Research

Miami's Condo Market Is Winding Down. But There Are Exceptions

David Wilkening | September 20, 2018

The Brickell area recently had a record breaking $13.2 million penthouse sale.

News

Mayo Clinic Embarks on $190M Expansion of Rochester Campus

John Jordan | September 19, 2018

The Mayo Clinic is partnering with Singapore-based Pontiac Land on the $190-million project that will also include hotel space.

Miami's Growing Flex Office Space Prices For Less

David Wilkening | September 17, 2018

Some new data about cost-per-desk will help office users making choices in the Miami-Dade County area.

Analysis

Property Markets Brace as Deadly Hurricane Florence Nears

David Wilkening | September 13, 2018

One expert tells GlobeSt.com it is essential to have a recovery team in place now.

News

Poutine Coming to South Florida Menus

David Wilkening | September 12, 2018

A Montreal company’s first entry into the Miami market at Wynwood will add a new vibe to a former warehouse-dominated area.

News

Inland Real Estate Acquires Tampa Multifamily

John Jordan | September 11, 2018

The multi-family property consists of 24 two-story buildings with 20 one-bedroom, 152 two-bedroom and 20 three-bedroom units.

News

Coastal Ridge, M Group Pay $80M for Fort Myers Student Housing

John Jordan | September 10, 2018

So far this year, Columbus, OH-based Coastal Ridge’s multi-family acquisition volume in Fort Myers totals almost $200 million.

News

RLJ Lodging Sells Vinoy Renaissance St. Petersburg for Nearly $189M

John Jordan | September 05, 2018

The sale consists of a contractual sales price of $185 million and the release of $3.5 million in member deposits. The total consideration represents approximately $521,000 per key, RLJ Lodging reports.

Analysis

Advice To South Florida Condo Investors: Walk, Don’t Run

David Wilkening | September 05, 2018

With developers continuing price-adding amenities and stagnant wage growth for would-be renters, there’s a perfect storm for luxury condo investors in Miami.

Research

Cushman & Wakefield Study is Bullish on Future of South Florida Multifamily

David Wilkening | September 05, 2018

The new report finds record low vacancy rates in a South Florida market supported by a continuing trend of positive historic market fundamentals.

Q&A

Franklin Street’s Hernando Perez On Miami's Hot Multifamily Market

David Wilkening | September 04, 2018

"Keep in mind, everyone needs a roof over their head and multifamily properties are among the most stable investments."

Netherlands Company Has Big Appetite for Miami Hotels

David Wilkening | August 31, 2018

MIAMI, FL--Netherlands-based citizenM announced its third area hotel in Miami, this time at the Worldcenter. It’s a 348-room, 12-story hotel…

News

Sterling Organization Closes First New Fund Investment in CA

John Jordan | August 29, 2018

North Ranch Gateway was originally built in 1989 and recently underwent significant renovations, according to the Sterling Organization. The property was purchased on behalf of Sterling Organization’s recently launched institutional fund, Sterling Value Add Partners III, LP.

News

Volvo’s New Plant Prompts Chatham to Add to South Carolina Portfolio

John Jordan | August 29, 2018

The deal for the 96-room hotel calculated out to approximately $217,000 per room and increases Chatham’s presence in this suburb of Charleston.

Analysis

Miami Chamber CEO Has Unusual Concern: Too Much Building

David Wilkening | August 29, 2018

Commercial developments are growing so fast in Miami and South Florida that they raise new problems of infrastructure keeping up with fast growth.

News

Miami Ranks No. 3 For Commercial/Multifamily Starts

David Wilkening | August 28, 2018

A new Dodge report finds that the South Florida area’s growth rate of 34% dwarfs Orlando’s rate of 4%.

News

Venture X Expands into Downtown Doral

David Wilkening | August 23, 2018

Positive absorption and declining vacancies continue in the submarket, which also offers the rare amenity of free parking.

News

Hip Miami Neighborhood Getting New Offices

David Wilkening | August 22, 2018

The Wynwood area that transformed from a industrial district to a popular residential area and tourist attraction is now adding 400,000 square feet of office space.

News

CalSTRS Strikes $500M Deal With Private REIT

Erika Morphy | August 21, 2018

Co-founder Jonathan Roth has had a longstanding working relationship with CalSTRS.

Analysis

Healthy Developments On The Rise in South Florida

David Wilkening | August 21, 2018

Industry groups estimate there are 1.3 million potential buyers each year in the United States for wellness-infused homes and communities.

News

Blanca Commercial Lands Large-scale Miami Office Park

David Wilkening | August 21, 2018

A tiny company grows to become the largest commercial real estate brokerage firm by market share.

Are There Any Signs of a Retail Slowdown in the Hot South Florida Market?

David Wilkening | August 20, 2018

Healthy home building and robust tourism markets are signs retail will continue to prosper.

Too Many Miami Condos? Don’t Tell Lenders

David Wilkening | August 20, 2018

A huge supply prompts continuing 50% rule and other industry lending standards.

Luxury Condo Resale Price Breaks $1,200 Per SF Barrier

David Wilkening | August 17, 2018

Proprietary technology to identify buyers is among the tools used to reach a resale price record.

News

Avanath Capital Expands East Coast Footprint With 273 Affordable Properties In NJ and FL

Steve Lubetkin | August 17, 2018

Both New Jersey and Florida are undergoing rapid economic growth and expansion, as well as experiencing significant population gains, says John Williams, president of Avanath, leading to increased demand for affordable housing options across both states.

New Miami Senior Housing Combines Affordability, Transit Access

David Wilkening | August 16, 2018

The private/public effort is the first of its kind in 25 years.

How Big is South Florida’s Acknowledged Condo Glut?

David Wilkening | August 14, 2018

Here’s a closer look with some new numbers that vary depending on price and location.

Healthy Development: Miami's Next Hot Neighborhood

David Wilkening | August 13, 2018

“We are speaking with numerous retailers and restaurants that want to have a presence in Allapattah and the Health District because that’s where a large majority of our population works and lives."

Downtown Miami Apartment Offers Lower Rates For Carless Residents

David Wilkening | August 09, 2018

“Our firm sees great value in building residential projects that are within walking distance from public transportation."

Largest Broker-Owned Firm Continues To Expand In Florida

David Wilkening | August 09, 2018

Lee & Associates is adding a new Miami office.

New Record For $109M Hotel Sale In Key West

David Wilkening | August 08, 2018

Brokers represent both sides in historic lodging deal.

South Florida Retail Vacancy, Absorption Rates Slightly Up

David Wilkening | August 07, 2018

Grocery-anchored centers most in demand for buyers.

Colliers In South Florida Adds Net Lease Option

David Wilkening | August 07, 2018

Major advantages to net lease lead latest major company to join ranks.

Industrial Pricing Is Eclipsing SW Florida's Office Market

David Wilkening | August 06, 2018

Limited inventory and high demand is pushing industrial flex prices in Southwest Florida.

The Overlooked Market That Is Florida’s Panhandle

David Wilkening | August 03, 2018

Low vacancies, declining unemployment and rising population are all raising retail prospects.

News

Chatham Sees Improved Market Conditions Across Portfolio

John Jordan | August 03, 2018

Among the best performing markets in the hotelier’s portfolio was the State of Florida where its hotel properties’ RevPAR increased 10.2%.

News

Crowley Maritime Expands, Consolidates to Flagler Station Space

John Jordan | August 02, 2018

Crowley inked a long-term lease extension and expansion totaling 179,672 square feet to completely occupy a building in Flagler Station Phase II.

News Research

Spring Baseball Is A Home Run for Florida Economy

John Jordan | August 02, 2018

This year’s MLB spring training generated 7,152 jobs on an annual basis and nearly $253.8 million in wages.

News

Credit Union Buys Downtown Tower for $59M

John Jordan | August 01, 2018

VyStar Credit Union approached the ownership about its interest in the building at 76 S. Laura St. earlier this year and a purchase and sale agreement was signed within three weeks of the initial meeting between the buyer and seller.

News

Federated Refinances Florida Industrial Portfolio

John Jordan | August 01, 2018

HFF officials state that the six-property portfolio is 100% leased on a triple-net basis.

News Thought Leadership

Medical Office Building Sale Provides ‘Rare Value-Add’

John Jordan | July 31, 2018

The 57,815-square-foot facility on the campus of Memorial Regional Hospital was purchased for $11.5 million by an unnamed private real estate investment firm.

News

Iconic Downtown Building to be Transformed

John Jordan | July 31, 2018

Built in 1936, the building was the third Walgreens outside of Chicago and the first in Florida.

News

Florida Vocational Institute Establishes New Campus at Miramar Park

John Jordan | July 30, 2018

In a deal that establishes its second South Florida campus, Florida Vocational Institute has signed a lease at 3502-3560 Enterprise Way and will occupy 29,849 square feet of space.

News Research

South Florida’s International Real Estate Appeal

John Jordan | July 30, 2018

Colombia registered 12.2% of all international searches on the association’s web portal, www.MiamiRealtors.com, in April 2018.

News

Duke Realty Expands South Florida Industrial Portfolio

John Jordan | July 27, 2018

HFF announced today Duke Realty’s purchase of the property from Flagler Global Logistics of Miami.

Miami Dade Commission Picks Civil Courthouse Site

John Jordan | July 27, 2018

The property was not Mayor Carlos Gimenez’s first choice, who had pushed to build the courthouse next to the Children’s Courthouse.

News

Lennar Moves Forward With WildBlue Project

John Jordan | July 27, 2018

The WildBlue project will feature a variety of homes to be built by Lennar, as well as other major builders.

Iconic Downtown Office Tower Changes Hands

John Jordan | July 26, 2018

A Transwestern official tells Globest.com that the bidding for the property was intense with more than 300 confidentiality agreements from both domestic and international investors.

With Portfolio Sale, PIA Group Shifts Focus to MF

John Jordan | July 26, 2018

The deal marks a shift in corporate purchasing strategy for the PIA Group from single-family to multifamily value-add opportunities.

CGI Merchant Refinances Four South Florida Properties

John Jordan | July 25, 2018

Starwood Mortgage Capital, LLC of Miami originated $40.75 million for the 55 Miracle Mile mixed-use building in Coral Gables and The Nexus property portfolio.