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Retail-driven developments aim to revitalize South Miami

Investors and developers have been quietly flocking to South Miami with a retail-driven mindset.

The upscale city bordering Coral Gables has drawn interest from both national and local players as they look to affluent South Florida suburbs for investment opportunities.
Last fall, Federal Realty Investment Trust and its two local partners, Grass River Property and the Comras Company, announced they bought the majority interest in the Shops at Sunset Place for $110 million. The goal is to revamp the aging outdoor mall, which serves as an anchor for downtown South Miami. New tenants so far include outdoor furniture store Frontgate.

In the meantime, a number of smaller projects along South Dixie Highway are banking on South Miami’s potential.

Read the complete article in The Real Deal South Florida

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Startup raises are good measurement of commercial real estate activity

Startups raising money from investors helps determine demand for commercial real estate in a given market, and as companies raise larger amounts of money, those venture capital deals have led to “significant leasing activity as decision makers look to lock up space to accommodate continued and anticipated expansion”.

Case studies such as Varsity Tutors, the Clayton-based online tutoring startup that raised $57 million from investors in November 2015 or LockerDome, which at the end of 2014 had raised $10 million, started talking about upgrading their office space almost immediately after their deals closed.

Read the full article in Bizjournals

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Miami’s office market is picking up after a slow first quarter

After slow first quarter, office lease activity in Miami-Dade picks up according to a new report from a commercial brokerage firm.

The Q2 2016 Office Insight report said that office leasing has increased from the first quarter, but that the market is still “subdued” compared to previous cycles. Historically, the second quarters of 2011 through 2015 averaged 12.5 percent more deal activity and 70 percent more square footage leased, according to the report.

The second quarter of this year saw 200 leases signed, averaging 2,000 square feet each, up from 150 leases of the same size in the first quarter.

Miami’s Central Business District and Miami Beach saw greater demand than supply during the second quarter, unlike the rest of Miami-Dade’s office markets. Vacancy in the CBD, a market with nearly 15 million square feet of office space in downtown Miami and Brickell, was at 18.2 percent, up from 17.1 percent last quarter. Aventura, with about 1 million square feet of office space, had the lowest vacancy rate at 4 percent.

To learn more about this information, please click here to read The Real Deal‘s full article

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3 things to keep in mind when looking for office Space

Choosing the right office space for your company isn’t something that you do every day, and you’re bound to be thankful for that. However , the process of finding the perfect place and negotiating a lease doesn’t necessarily have to be complicated and lengthy, if you take into consideration these three advises:

Think ahead in the future

That office space is perfect for your needs right now. But will it be in a year? How about in 5? It’s important to consider your potential future needs as well as your current ones when you’re considering your options. Look for a place that gives you some room for additional employees to future. Proof your space for growth and even think about what opportunities the space or building provides for adding amenities. Also, take your technological needs into consideration. How easy will it be to upgrade your systems or adopt new technologies in that prospective space?

Think about your team

The wrong layout inside of your office space can lead to unhappy employees and a loss of productivity and efficiency. Consult your management team or all of your employees if you’re a smaller company. Solicit feedback regarding what type of layout they’d like to see in your new space and why it would be beneficial to accomplishing your organizational goals. Then, use the input as a guide when you’re comparing available office spaces.

Take the context into account

You may also want to consider what facilities are available outside your office building, you can’t be sure that you’ve found the perfect site. In a perfect world, every office space would come with a parking area that is the ideal ratio for its size, but that’s often not the case. You don’t want your team to arrive on the first day and find out there is absolutely no room in the lot to fit their cars. If you’re sharing a building with other companies, specifically ask what the available parking spaces are and estimate how many of your employees commute to work by car before you settle on a space.

Source: REOptimizer

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The Role of Sustainability in Commercial Real Estate Development

Increasingly, green design is cropping up as a concern to both tenants and owners in commercial real estate. Our general attitudes are placing more emphasis on environmental concerns and smart, sustainable design in all sectors. Happily, concern for the planet lines up nicely, in this case, with concern for the bottom line. Sustainable practices are good business.

With everyone taking an interest in ways to conserve energy and create a more “green” society, CRE developers are taking note. Investors and tenants are aware that sustainable practices can significantly improve performance in many areas. According to John Friedman of the Huffington Post sustainability benefits the companies that make it a priority in 6 ways:

#1: “License to operate” – community goodwill can translate to a cooperative attitude.
#2: Access to investment capital – sustainability means better marketability
#3: Cost reduction/avoidance – preventive maintenance saves money in the long run.
#4: Market opportunity/advantage – a more positive perception from others is likely.
#5: Employee engagement – productivity and retention are improved; aesthetics are enhanced.
#6: Ability to seize the high ground in innovation – lead the way in development of green practices and products.

To learn more about this topic, please click here to read Realconnex full article


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Where to Invest Now? How About Multi-Family Real Estate?

According to experts, U.S. investors may want to consider keeping their money at home in multi-family real estate projects. “Buying real estate is better done on a direct basis,” said Eric Jones, chief investment officer of an important Real Estate firm. “Public REITs are too correlated to the public market and interest rates in particular.

Jones said higher income suburban locations in major metropolitan areas will outperform urban core for apartment investment. In his view, new supply in urban core areas with slowing growth coupled with investors currently paying too low of cap rate is a recipe to lose money, even in multi-family apartments.

He prefers to focus on regions with above-average growth in prime renter demographics and regional economies with strong economic vitality. Jones said his favorite locations right now include North Miami Beach, Orlando, Dallas and Denver.

Read more in The Street

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