Amazon Reportedly In Talks To Lease Large Office Space In Wywnood
Amazon could become the latest tech giant to move to Wynwood. The company is reportedly in talks to lease between 60,000 and 80,000 square feet at the under-construction Wynwood Plaza, according to Commercial Observer. At the time of writing, the talks were for about 75,000 square feet of space, the report said. About a year ago, Amazon founder Jeff Bezos announced he…
Amazon in advanced talks to lease as much as 80K sf at Wynwood Plaza
Amazon is getting closer to signing an office lease at the Wynwood Plaza project that’s under construction in Miami. The e-commerce behemoth is in advanced talks to take about 75,000 square feet at the development, with the final space still being determined, possibly ranging from 60,000 square feet to 80,000 square feet, Commercial Observer reported, citing anonymous…
Auto dealers Ali and Faisal Ahmed are revved up for South Florida’s industrial market, dropping $38.2 million for a Miami Lakes warehouse. An entity managed by the Miami Lakes-based car moguls acquired a 190,707-square-foot industrial facility at 14100 Northwest 60th Avenue, records and real estate database Vizzda show. Completed in 1971, the two-story…
Graham adds to portfolio, pays $69M for 448-unit Miami Lakes apartment complex
Graham Companies, led by the family that developed Miami Lakes, expanded its empire with a $69 million purchase of a 448-unit apartment complex. The firm bought the ground lease for the Courtyards at Miami Lakes at 6431 Cow Pen Road from Village Oaks Associates, led by Ariel and Oded Meltzer, according to records and real estate database Vizzda.
Simon and David Reuben plant flag in Miami Beach, complete $400M-plus purchase of W-branded hotel
Billionaires Simon and David Reuben are officially entering the Miami Beach hospitality game, acquiring the W South Beach for more than $400 million. Reuben Brothers, the siblings’ eponymous London-based global investment arm, bought the hotel at 2201 Collins Avenue from Aby Rosen and David Edelstein, who lead New York-based firms, RFR Realty and Tricap…
Reuben Brothers Buy W South Beach From RFR, Tricap For More Than $400M
British billionaire investors the Reuben Brothers have acquired the W South Beach hotel for nearly a half-billion dollars. The London-based Reuben Brothers bought the building and its 348 hotel rooms and managed condo units from New York-based developers RFR and Tricap, which opened the building in 2009 after acquiring the 3.5-acre site at 2201 Collins Ave. in 2004.
420-Foot Luxury Residential Tower Proposed In South Beach
A developer wants to build a 420-foot luxury condo tower in South Beach. An existing 286-unit building on the site allowing short term rentals would be demolished. The new tower would have a more compact footprint but rise to a taller height of 29 stories. It would include 100 long-term residential units, with short term rentals prohibited. Units will be larger, at over 2,000 square…
Edgewater Whole Foods Under Construction, Apartments Available Above
Whole Foods has filed a Notice of Commencement for its new store in Edgewater, near Midtown Miami and Wynwood. The filing was recorded in county records on October 9. It states that tenant build out of the grocery store was commencing. Miami’s Building Department issued a construction permit for the large new supermarket in August. According to the permit…
329-Unit NoMad Residences Wynwood Tops Off
NoMad Residences Wynwood has topped off at nine stories. A ceremony was held at the construction site in mid-October to celebrate the milestone. Completion is slated for Q4 2025. NoMad Residences will include 329 condos delivered finished and furnished, and allowing flexible rentals. More than 80% of units are in contract. A rooftop restaurant and NoMad Bar is planned…
Brickell’s Tallest Office Tower Is Now Open
830 Brickell is now officially complete. The Class A+ office building received its full Temporary Certificate of Occupancy, and the first tenants have moved in. Banco Santander, which took 95,000 square feet, is said to have been the first tenant to move in. As of mid-October, around 20% of the building was occupied and operational, with the remainder expected to be built out…
Downtown Miami’s 14 ROC Gets FAA Approval, Utilities; Tree Permit Submitted
The 14 ROC tower planned in downtown Miami has received FAA height approval, and a utilities deal has been completed. A tree permit has also been applied for. The Federal Aviation Administration approval was issued on October 5. It allows a permanent building height of 395 feet above ground, or 407 feet above sea level. Miami-Dade County completed a deal with the developer…
Target Is Now Open In Downtown Miami (Parking Is Free)
Target has opened its store at a new retail complex in downtown Miami near the Brightline station. The new 50,000-square-foot Target is part of the 1.5 million Sawyer’s Walk development in Overtown, which includes multiple levels of retail, office, and residential. Target Miami Downtown offers free parking, reviewers wrote on Google Maps. The store website says it also offers…
Total Demolition Permit Issued At Edgewater Property Where 3 Towers Planned
Miami’s Building Department has issued a total demolition permit for a former Wendy’s Restaurant at the 3333 Biscayne property where a major redevelopment is planned. Multiple other demolition permits for residential properties on the same block were also issued on the same day, October 25. Those properties make up part of the new development site. The Wendy’s permit had…
Esplanade at Aventura Expands Retail Offerings With Eight New Tenants in 2024
Esplanade at Aventura is enhancing its shopping and dining offerings by adding eight new-to-market tenants throughout 2024. Since its launch in December 2023, the modern destination in Aventura has drawn visitors with its unique blend of upscale eateries, wellness boutiques, and Class A office spaces. The newly introduced tenants span luxury retail to fitness and specialty…
US vows $390 million to build Miami-Dade county’s Northeast rail corridor
The Northeast Corridor Rapid Transit, part of the Strategic Miami Area Rapid Transit (SMART) Plan, moved closer to reality Tuesday with the Federal Transit Administration announcing that it could receive up to $389.5 million in federal grants. Odds of approval by a Republican-led Congress, however, drops the project into a big “Maybe” box, depending on the outcome…
A secret $1.2 million deal between a star-studded roster of investors and a homeowner’s group for supporting a $61 million redevelopment of the Standard Miami Beach may violate the city’s ethics code. A partnership featuring billionaire Barry Sternlicht, architect Bjarke Ingels, lawyer and singer Shakira’s ex-boyfriend Anthonio de la Rúa and hospitality CEO…
Michael Stern’s JDS plans luxury condo next to Monad Terrace in Miami Beach
Michael Stern’s JDS Development Group plans to develop a luxury condo tower next to its Monad Terrace project, The Real Deal has learned. An affiliate of JDS plans a buyout of the 238-unit Bay Garden Manor condo building at 1250 West Avenue, according to a source. The firm has started closing on units, and so far six sales have been recorded since June, ranging from $215,000…
Meet Michael Stern’s new partner, Italian entrepreneur Gianluca Vacchi
Italian entrepreneur Gianluca Vacchi is partnering with developer Michael Stern, taking his marketing chops and wellness expertise to work on a $4 billion pipeline of new real estate projects, starting in South Florida. Vacchi, who has a combined 45 million followers on Instagram and TikTok, formed a joint venture through his GV Development Group and Stern’s JDS…
Faced with Sears site fallout, Miami appeals to the state
City officials are urging the state to reconsider the Live Local Act, which overrides local zoning for affordable housing, in order to limit the scale of a planned project near Miami’s Coral Gate neighborhood that has raised resident concerns. Coral Gate residents filled city hall on Oct. 24, voicing strong support during the commission’s comment period for limiting the size of a three-building…
JV Scores Miami Dade’s First Permit for IOS Purpose Built Facility
Timber Hill’s special purpose firm Coconut Palm TH LLC, and Champion Realty Advisors have scored a permit for their IOS facility project in Homestead, Florida. The move has allowed the joint venture to finally break the ground on the project at South Dade Truck Parking Overlay after the process took months. This marks the first time a purpose-built IOS facility was granted…
Air taxi flights targeting Miami’s skies by 2026
Air taxis could be cruising the skyline as soon as summer 2026, as UrbanLink is progressing with plans to launch an all-electric fleet geared to transform transportation in Miami. A South Florida-based startup, UrbanLink is an advanced air mobility (AAM) company working to revolutionize aerial and maritime transit through cutting-edge, zero-emission solutions. It plans…
Cipriani Residences Miami Completes Brickell’s Largest Foundation Pour of the Year
Developer Mast Capital has completed the largest mat foundation concrete pour in Brickell this year for Cipriani Residences Miami, marking a significant milestone in constructing the brand’s first North American ground-up residential project. The pour, spanning approximately 16 hours, involved 11,500 cubic yards of concrete and 2,500 tons of reinforcing steel, making…
Twin 60-Story Residential Towers Planned Inside New Faena District
Plans have been announced for two 60-story towers called Faena Residences Miami, along with a new cultural district, Faena District Miami River. The buildings will include 440 residential condos. At the top, the towers will be connected by a two-story 45,000-square-foot “cultural epicenter.” Rafael Viñoly Architects is designing the towers. It is one of the last works by the late…
Developers Plan 48-Story Jean-Georges Miami Tropic Residences near Design District
Sales are now underway for Jean-Georges Miami Tropic Residences. It is the first foray into residential development by Michelin-Star Chef Jean-Georges Vongerichten. Jean-Georges’ abc kitchens, a blend of his popular plant-forward restaurant abcV, Latin concept abc cocina, and abc kitchen will be located on the ground floor of the new development. There will also be a private…
$927M Miami-Aventura Train Service Approved For Engineering Phase With More Funding
Miami-Dade’s planned Northeast Corridor train service has received Federal Transit Administration approval to move to the engineering phase. The FTA issued a pre-award with a maximum of $389m towards the project (Miami-Dade was requesting $454m), according to a letter issued October 23. The county will fund an additional $338m, while the State of Florida will provide $200m.
Brickell Supertall Tower Submitted To FAA At 1049 Feet
The Federal Aviation Administration received an application last week with a proposal for a supertall tower in Brickell. The filing matches the same location where Citadel is planning to build its headquarters tower. According to the filing, the tower is planned to reach a height of 1,046 feet above ground, or 1,049 feet above sea level. The agency received the application on October 24.
Weekend Foundation Pour For 80-Story Brickell Tower
A foundation pour took place over the past weekend for the 80-story Cipriani Residences in Brickell (a video of the pour can be seen here). It was planned as Brickell’s largest concrete pour year to date, with over 750 truckloads brought in beginning on Friday evening. The tower will become the first-ever ground-up Cipriani residences in North America, with 397 luxury condos.
Pre-Application Filed For 50-Story Tower North Of Signature Bridge
A pre-application meeting request has been filed with county planners for a new 50-story tower in Miami. According to the filing, the new tower is planned to be built at 1315 NE Miami Ct, just north of Miami’s under-construction Signature Bridge. The approval process is planned through Miami-Dade’s Rapid Transit Zoning area, rather than through the City of Miami. 1315 NE Miami Ct…
Prologis To Ramp Up Warehouse Purchases With Global Demand Expected To Climb
Executives at the world’s largest warehouse owner and developer expect to ramp up property acquisitions in coming months in a bet that industrial real estate demand will accelerate next year after a period of rising vacancies and subdued rent growth. Prologis raised its projected spending on acquisitions to between $1.75 billion and $2.25 billion for the full year — up…
Aman Miami Beach Residences Gets FAA Clearance, Approved for Heights Up to 252 Feet Above Ground
OKO Group and Access Industries have secured Federal Aviation Administration (FAA) approval for the Aman Miami Beach Residences at 3425 Collins Avenue. The FAA issued two determinations, each specifying height clearances for different points of the building to ensure compliance with airspace regulations. The primary clearance permits a maximum height of 252 feet above…
Notable Retail Leases Signed in South Florida Q3 2024
We’ve compiled a comprehensive list of the top retail leases signed by square footage in South Florida during 2023. This past quarter was busy overall, and there were a few big box leases signed and sealed. Despite the sentiment that the traditional retail market is taking a hit due to several factors, particularly e-commerce and several retail store closures nationwide, this quarter’s lease…
Cayon, Easton ring up $17M Walmart-anchored shopping center purchase in Homestead
Cayon Development Group and Easton Group are joining the wave of buyers snatching up South Florida shopping centers, paying $16.8 million for a Homestead retail site anchored by a Walmart Neighborhood Market. The joint venture acquired a four-building retail complex at 14325 Southwest 268th Street, records and real estate database Vizzda show. Miami-based Cayon…
ASPR Filed for 600-Unit Apartment Development at Pullman Miami Airport Hotel Parking Lot
London + Regional Properties submitted an Administrative Site Plan Review (ASPR) application with Miami-Dade County on October 24 to develop two eight-story mixed-use buildings on the Pullman Miami Airport hotel site at 5800 Blue Lagoon Drive. The proposal outlines plans for 600 new residential units spread across two buildings on the hotel’s existing parking lot. The 10-acre site…
Swire Properties Announces 11 New Tenants at Brickell City Centre in Miami
Swire Properties has announced 11 new tenants as part of the North Block expansion at Brickell City Centre, a mixed-use development located at 701 S. Miami Ave. in Miami’s Brickell district. The new deals total 65,800 square feet and feature a mix of recent openings and openings for later this year and 2025. The new tenants joining Brickell City Centre include an anchor store…
Easton Group Acquires JCPenney-Leased Department Store at Miami International Mall for $12M
An affiliate of The Easton Group has acquired a single-tenant department store and adjacent parking lot in the Miami suburb of Doral for $12 million. Situated on a 10-acre site within Miami International Mall, the property totals 150,108 square feet of big box retail space. JCPenney currently occupies the building. Edward Easton, CEO and chairman of Easton Group, says that the…
Easton drops $17M for Miami International Mall’s closed Sears, plans up to 500 apartments
Easton Group bought Miami International Mall’s shuttered Sears for $17.1 million, with plans to develop up to 500 apartments on the site. The firm joins a growing number of investors that are seizing on floundering shopping centers in South Florida. Their plans include revamping the retail, as well as building new mixed-use projects on parking lots or on the site…
Faena Unveils a New Cultural District in Miami with a Landmark Riverfront Residential Project
Faena, in partnership with Fortune International Group and KAR Properties, is expanding its renowned brand to the heart of Miami by creating the Faena District Miami River. Set at 90 Southwest 3rd Street, this multi-phase cultural district will be located within the only 14-acre private park along the Miami River. Anchored by Faena Residences Miami, this transformative…
Think smaller: LD&D, partners relaunch sales for Surf Row in Surfside
The developers are relaunching sales of their planned Surf Row, a luxury condo project in Surfside, with smaller units and lower starting prices, according to a press release. Miami-based LD&D, led by Diego and Alejandro Bonet, partnered with George Samarjian’s IGEQ and Daniel de la Vega’s One Capital to first launch Surf Row in 2022 as an eight-unit townhouse development…
Silver Sands Beach Resort in Key Biscayne, FL, will soon be replaced with a luxury condominium. Miami-based Terra recently secured approval from city officials, greenlighting a project that would replace the 1950s-era hotel with a 13-story tower. The high-rise would require 288,163 square feet of new construction, comprising 56 condos. The South Florida Business Journal…
David Martin’s Terra plans beachfront Key Biscayne condo development
Developer David Martin plans a luxury condominium in Key Biscayne, on the site of the Silver Sands Beach Resort. Martin’s Coconut Grove-based Terra is under contract to purchase the waterfront hotel at 301 Ocean Drive, according to an application submitted to the village of Key Biscayne. The Key Biscayne Council approved ordinances tied to the planned redevelopment…
South Florida industrial landlords are seeing pockets of softness as vacancies creep up
South Florida’s industrial market, the region’s bellwether commercial sector, is showing signs of softness as vacancy rates crept up across the region in the third quarter, a recent Colliers report shows. In Miami-Dade County, landlords dropped the average asking rent for a second consecutive quarter, after record highs in early 2024 and late 2023. Yet, institutional investors…
Retailers are starting to open at developer Michael Swerdlow’s Sawyer’s Walk project in Miami’s Overtown. Already open are Target’s 50,000-square-foot store and Burlington’s 38,000-square-foot store, according to the developers’ news release. Next, Aldi will open in a 25,000-square-foot space and Five Below in a 10,000-square-foot space. In March, Ross Dress for Less will…
A wave of aging condos are flooding the market amid looming year-end regulations that could prompt six-figure special assessments. Condo listings rose 60% in Miami-Dade, Broward and Palm Beach counties in the third quarter, and 85% of all listings are condos 30 years or older, according to a new study by real estate brokerage ISG World. Average sale prices for these older…
39-Unit Apartment Building Proposed for 2306 Van Buren Street in Hollywood
A 1940s-era apartment near Hollywood Circle could be demolished to make way for a four-story residential building. The unnamed development would offer 39 apartments, measuring 666 to 1,281 square feet each. The South Florida Business Journal reports that layout plans span one-bedroom to three-bedroom designs, with the average home measuring 824 square feet. Plans call…
PMG acquires development site for waterfront Fort Lauderdale condo project
PMG paid $19.2 million for a waterfront co-op building on Fort Lauderdale’s Intracoastal Waterway, as the firm moves forward with plans for a condo tower on the site. The New York and Miami-based firm secured approval from the city’s planning and zoning board for its planned project in October, according to a press release. The developer plans to build Sage Intracoastal Residences…
Bahia Mar developers unveil plans for St. Regis Resort and Residences in Fort Lauderdale
Another St. Regis-branded development is coming to South Florida, planned for Related Group, Tate Capital and Rok Acquisitions’ phased Bahia Mar project. The developers launched sales of the St. Regis Resort and Residences, Bahia Mar Fort Lauderdale during the Fort Lauderdale International Boat Show, according to a press release. The 40-acre Bahia Mar hosts…
Developers Launch $2B Monaco-Inspired Bahia Mar Redevelopment
To kick off this year’s Fort Lauderdale International Boat Show at Bahia Mar in Fort Lauderdale, the developers who control the property announced a $2B redevelopment they hope will catch the eyes of the superyacht shoppers descending on the area. Related Group, Tate Capital and Rok Acquisitions rolled out their plans Wednesday for a 40-acre luxury resort and residential…
Joint Venture Unveils Plans for $2B Waterfront Mixed-Use Development in Fort Lauderdale
A joint venture between Related Group, Tate Capital and Rok Acquisitions has unveiled plans for Bahia Mar, a $2 billion waterfront mixed-use development located in Fort Lauderdale. The joint venture is developing the 40-acre project in collaboration with Marriott International. Bahia Mar will be anchored by two 23-story condominium towers and a 197-room luxury hotel…
Plans Unveiled for The St. Regis Resort and Residences, Bahia Mar in Fort Lauderdale
Developers Related Group, Tate Capital, and Rok Acquisitions, in partnership with Marriott International, have unveiled plans for The St. Regis Resort and Residences, Bahia Mar Fort Lauderdale. This extensive project marks a transformative step for the renowned Bahia Mar Yachting Center, a major marina and host of the Fort Lauderdale International Boat Show (FLIBS)…
Link lightens South Florida portfolio, sells Fort Lauderdale mixed-use building for $19M
Link Real Estate’s South Florida portfolio just got a little lighter after the Miami-based firm sold a Fort Lauderdale building for $19 million. A Link affiliate sold The Glass Shop, a three-story office and retail building at 105 North Federal Highway, to North Miami Beach-based Jewish Culture High School, records and real estate database Vizzda show. The buyer obtained a $12.9 million…
Dependable Equities launches condo sales of massive Fort Lauderdale project
A Brooklyn developer is launching sales of a 775-unit luxury condo project in Fort Lauderdale, marking one of the biggest new developments planned in the city. Dependable Equities, led by Isaac Schlesinger and Rabsky Group co-owner Simon Dushinsky, tapped Douglas Elliman to lead sales of Ombelle Fort Lauderdale, which is set to rise at 300 Northeast Third Avenue…
La dolce vita: Vertical, GCF launch sales for Italian yacht-branded Fort Lauderdale condos
Vertical Developments, GCF Development and WellDuo are launching sales for a planned luxury condominium in Fort Lauderdale branded by the Italian yacht maker Riva. Prices for the 20-story, 36-unit Riva Residenze building planned for 3019 Harbor Drive start at $3.5 million, according to a press release. Fortune Development Sales is leading sales and marketing…
Italian Yacht Maker Riva The Latest To Lend Brand To Luxury South Florida Condos
A new yacht-branded tower is sailing into Fort Lauderdale. Italian yacht manufacturer Riva will lend its brand to a 20-story luxury condominium building at 3019 Harbor Drive, developers Vertical Developments, WellDuo, and GCF Development announced Wednesday at a press conference during the Fort Lauderdale International Boat Show. Named Riva Residenze, the tower…
Morgan, Carlyle land $67M loan for multifamily redevelopment of Pompano Beach Macy’s and parking lot
Morgan Group and Carlyle Group landed a $67 million loan for the redevelopment of a closed Macy’s and adjacent lot in Pompano Beach, where the developers plan a 356-unit apartment complex. The nearly 12-acre property consists of the Macy’s building at 1200 Northeast 12th Street within the Pompano Beach Citi Centre open-air mall, and a parking lot immediately to the south.
Construction Begins on Mosaic Palms Apartments at 7376 Lyons Road near Boynton Beach
Akel Homes has officially broken ground on Mosaic Palms, a new apartment complex west of Boynton Beach, following a $30 million construction loan secured from Seacoast Bank. The Stuart-based bank provided financing to Civic Hypoluxo Holdings, a Delray Beach-based Akel Homes subsidiary. This loan covers the 11.8-acre development site located at 7376 Lyons Road…
Construction Starts on ‘Mosaic Palms’ at 7376 Lyons Road in Boynton Beach
Construction has started on the Mosaic Palms apartments in Palm Beach County. Delray Beach-based Akel Homes is operating as both the developer and general contractor. Scheduled for delivery in the first quarter of 2026, the luxury venture will yield five three-story buildings. In total, the Mosaic Palms apartments will offer 187 homes, with floorplans spanning one-bedroom…
Two Downtown West Palm Beach Properties Acquired for Mixed-Use Redevelopment and Revitalization
EBC Capital, a real estate investment and development firm led by Eric Cohen, has acquired two properties in Downtown West Palm Beach for $5.6 million. The properties, located at 303 Gardenia Street and 501 S Olive Avenue, are part of EBC Capital’s plan to support the area’s revitalization, with leases already secured for tenants like men’s sportswear brand Redvanly…
Vanderbilt scores approval for $520M West Palm Beach campus
“Welcome to Palm Beach County,” county Mayor Maria Sachs said, as the room erupted in applause. Sachs had just presided over the unanimous approval of Vanderbilt University’s proposed $520 million graduate school campus in West Palm Beach during the Palm Beach County commission meeting on Tuesday. All seven county commissioners agreed to gift the…
Lowenstein family’s Lionstone buys Pearl condo dev site in Palm Beach Shores
The Lowenstein family’s Lionstone Development bought the site for a planned condo project in Palm Beach Shores. Records show a Lionstone affiliate bought the site at 123 Ocean Avenue from Kannega Glades LLC, a Florida entity managed by developer Deepak Khosa. Lionstone paid $13 million for the property and financed the purchase with a $7.5 million mortgage…
Mark Bellissimo, partners buy back Wellington International showgrounds
Developer Mark Bellissimo and his partners cut a deal to buy back Wellington International, the horse showgrounds at the heart of the village’s equestrian economy, three years after selling the site. The showgrounds play a pivotal role in Bellissimo’s planned 600-acre mixed-use development, the Wellington, a controversial project that will bring hundreds of homes to the equestrian…
Industrial Market Outlook: E-Commerce Resumes Growth
E-commerce, which slowed in 2023 after its pandemic-driven peak, is showing signs of recovery in 2024. According to the latest CommercialEdge national industrial market report, online sales reached $291.6 billion in the second quarter, marking a 1.3% increase from the previous quarter and a 6.7% rise year-over-year. With that, e-commerce now accounts for 18.8% of core…
Will This Market Have the Highest Rent Growth in 2025?
Last week, I commented on the New Residential Construction Report in 5 Graphs for September 2024. For this week’s article, I’ve kept the focus on the multifamily sector and given the recent release of our Q3 2024 Preliminary Trend Announcement, let’s take a look at our latest forecast and explore which regions and metros are poised to experience the highest rent growth…
At the September meeting of the Federal Open Market Committee (FOMC), the Federal Reserve lowered the federal funds rate by 50 basis points, which is the first easing of monetary policy in four years. This move lowered the short-term interest rate to a target range of 4.75 to 5 percent. Elevated borrowing costs have stifled commercial real estate transaction volumes the past couple…
No One Likes a Re-Trader in the M&A World
In the world of M&A, one of the quickest ways to damage your reputation and derail a deal is through what’s known as a “re-trade”—attempting to renegotiate the key business terms that were already agreed to in the letter of intent (LOI). While some people might think the LOI is just a non-binding starting point, treating it casually can be a huge mistake, both for…
Video: Joe Sarachek Discusses Distressed Real Estate Investing Playbook
Exploring Distress Investing in the Current Real Estate Market In a recent episode of America’s Commercial Real Estate Show, the show host and guest Joe Sarachek, a managing partner of the Sarachek Law Firm, author of Distress Investing Playbook, and Adjunct Professor at NYU, explored the world of distressed commercial real estate investing. The conversation centered on the…
Report: Absorption Is Positive Across All Property Types According to Third-Quarter Report
Perhaps the most salient information within Lee & Associates’ 2024 Q3 North America Market Report pertains to the office market. The third quarter of 2024 ended nine continuous quarters of negative net absorption in the office sector. However, additional occupancy losses may be on the horizon for the office market, even as supply pressures ease for this property type.
Supersizing retail sales : The growth of large-scale retail
Our previous FRED Blog post covered declining sales at electronics and appliances stores that may be due to consumers’ increased online shopping and diverted foot traffic. Today, we examine those expenditure patterns more closely by comparing recent US Census data on retail sales at general merchandise stores. The FRED graph above shows the value of inflation-adjusted retail…
Retail sales of electronics and appliances : Is online shopping replacing foot traffic?
The US Census reports the monthly value of retail sales grouped into 12 kinds of business activity. The terms for those activities, or industries, come from the outlets where the goods are sold. Think, gasoline stations, sporting goods stores, and home furnishings stores. But when consumers change where they go to purchase these products, the value of retail sales by industry…
If Florida Legalizes Weed On Election Day, CRE Could Feel The Effects ‘Right Away’
Commercial real estate might be the last thing on the minds of Florida voters on Election Day, but when they cast their ballots and vote on the state’s Amendment 3 referendum, which would legalize recreational marijuana, the outcome will have direct impacts on the industry. Amendment 3 needs 60% approval to pass, at which point state lawmakers, many of whom oppose legalization…