Miami

Industrial demand is surging across the country and there is strong activity across most real estate sectors, says Akerman's Eric Rapkin, who <b>EXCLUSIVELY</b> chatted with GlobeSt.com about big-picture trends and issues impacting different commercial real estate sectors.

While retail analysts continue to postulate the impact of the Winn-Dixie bankruptcy and its store closings, as well as Amazon's acquisition of Whole Foods', the fact remains that Publix is the “gorilla” in the grocery market, Avison Young states in the report.

The firm intends to construct three buildings: Building 100 – 104,950 square feet, Building 200 – 145,164 square feet and Building 300 – 402,582 square feet. Groundbreaking on the project is expected later this month.

Miami-based Apollo Bank provided Riviera Point Development Group $10.7 million in construction financing for the project.

Foncière des Régions also reports it has selected InterContinential Hotels Group, based in Denham, Buckinghamshire, to rebrand and operate 13 of the newly acquired hotels via long-term, triple-net lease deals.

The tourism and hotel sectors had to overcome significant obstacles in 2017, including, Hurricane Irma in September, a 3.2% increase in hotel room inventory and the closure of the Miami Beach Convention Center for expansion and renovation.