For retail properties in Miami-Dade County from 3,000 to 12,000 square feet, the top buyers in the past year as listed by Costar on February 4, 2016, were: Ponte Gadea, USA; Thor Equities; Tristar Capital; RFR Realty; Safra National Bank of New York; Jamestown U.S. Immobilien GmbH; Sunshine Gasoline Distributors; Centurion Realty; Customer Service; RedSky […]
On February 10th, 2016, Federal Reserve Chair Janet Yellen testified (video) before the House Financial Services Committee on the central bank’s semi-annual Monetary Policy Report to Congress. Among other things, she told committee members that the economy and labor market continue to grow despite a recent slowdown. Some of the more contentious moments were during a heated exchange […]
The Federal Reserve’s Real Estate Analyst Brian Bailey joins host Michael Bull to disucss the real estate industries impact on U.S. GDP and economy.
Apple’s Largest Store in Florida Opening in Brickell City Centre For a while there have been rumors of Apple being among the premier tenants in the upcoming Brickell City Centre. Today that scoop becomes official, with The Real Deal and South Florida Business Journal reporting the news this afternoon. The lease has been signed and […]
Within the commercial real estate industry, it is generally accepted that higher interest rates lead to higher cap rates and thus lower values, and vice versa. The data on this suggests that the relationship is looser than frequently perceived. On average, there does appear to be some correlation, with more considered analyses suggesting a 30% […]
Miami DDA Projects 1.4 Million SF more of Retail Space – a 22% Increase Downtown Miami’s retail market will see as much as 1.4 million square feet of new leasable space over next three years, according to a new report by the Miami Downtown Development Authority (DDA). Driven largely by mega-projects like Brickell City Centre, […]
The capitalization rate (cap rate) for mid-market multifamily properties in Miami-Dade County (20 to 80 units, 1,448 properties) drifted to just under 7% in the most recent period reported by Costar. As can be seen in the attached chart, cap rates have been relatively consistent over the years, generally moving up and down around a […]
The Miami Downtown Development Authority has published a January 2016 Study of Retail Market Conditions. Highlights include: About 1.425 million square feet of retail are planned or under construction, most within Brickell City Centre. Downtown Miami contains about 6.5 million square feet of retail, with rents varying widely from the high teens to more than […]
Seminole tribe unveils $1.8 billion plan for Hollywood hotel The proposed guitar-shaped hotel that would be built in the Seminole Tribe’s Hollywood entertainment complex Florida’s Seminole Tribe has unveiled its $1.8 billion expansion plan for entertainment facilities in Florida, though whether that proposal moves forward hinges on a new gaming… Case-Shiller Miami Housing Index Up […]
After falling by nearly half from its 2006 peak, the Case-Shiller index has appreciated by more than 50% from its 2011 trough as of November 2015. This level is now about 26% less than the peak levels of 2011, confounding many that thought such recovery would take years if not decades more. This strength has […]
