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MIAMI-New York City-based DTZ Rockwood has opened a Miami office with John Bell joining the company as managing director of the firm’s investment sales activity and Donald Cartwright joining as senior vice president. The office will focus on Florida, but also have a national reach.

Bell leads the seven-member team in the office that includes five investment sales professionals and a capital markets specialist experienced in providing debt placement, structured finance and recapitalizing portfolios. “The investment sales market has been extremely active with respect to office, industrial and retail,” Bell tells GlobeSt.com. “Cap rates continue to compress and decline. A lot of that has been driven by population and job growth.”

In recent years, according to DTZ, investors have been paying higher prices per sf for properties with lower yields, particularly in the first year of the investment. Investors are making these decisions based on the expectation that the office and other commercial sectors will continue to experience growth over the next several years. “On the surface, it looks like pricing has become too high, but there is sound reasoning behind these decisions,” Bell says.

Prior to joining DTZ Rockwood, Bell served for three years as executive vice president and principal with Trammel Crow Co. Prior to Trammell Crow, he served as a senior director with Cushman & Wakefield.

Cartwright will focus on growing the retail business segment of the company. Before joining the company, he was a principal and area director for South Florida with Trammel Crow Co. “The retail market in Florida is extremely strong and a focus of many of our clients,” Cartwright says.

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