A big mystery is always exactly how much commercial real estate trades in a given year. The data is murky. Even if the county data is reviewed, many transactions show a total amount for a set of parcels for each of the parcels within, resulting in double counting of those sales, and many sales show […]
RentCafe just published its year end rent report. The top line for area multifamily investors again got a boost. In Miami, apartments now cost $1,684 per month, a 4.5% increase from the prior year. By comparison, average rent grew 3.1% nationally. Within the South Florida area, Doral registered as the city with the highest average […]
The difference in yield between that of Treasury Inflation Protection Securities, commonly referred to as TIPS, and the yield of ordinary U.S. Treasury securities with the same maturity dates is referred to as the TIPS spread. The chart above shows this spread for various maturites for the past 15 years. Ordinary U.S. Treasury securities don’t initially […]
Headed by Ricky Trinidad, Miami based Metronomic bills itself as a progressive, innovative, and sustainable real estate developer with core values centered on social and economic improvement, community development, and local collaboration that exemplifies industry standards for quality design, planning, and construction. They note that “passenger drones have proven to be a new and safe […]
Miami or Miami-Dade county is mentioned in 18 places in the most recnet ULI/PwC 2019 Emerging Trends in Real Estate. Some highlights include: Pg 22: “A 2018 Harvard study of Miami–Dade County determined that properties at lower elevations are gaining value at a slower rate than those at higher elevations.” Pg 22: “Miami Beach is currently investing $600 million […]
At the end of the 3rd quarter of 2018, both short and intermediate yields continued their climb begun nearly three years ago. As can be seen in the accompanying chart, five year rates, most closely tracked for commercial property borrowing cost, found themselves testing 3%, with short term (here 1 month) rates following close behind […]
This video is cued up to the point where CCIM Institute Senior Economist KC Conway makes a bold prediction about Amazon HQ2: My new wild forecast is – get my red shoes out again – is that Amazon’s HQ2 is not going to be in one city. I think that between now and the end of the year they’re […]
The Miami area, or more broadly Florida’s Miami-Dade county, has 67 Opportunity Zones within it. Opportunity Zones, introduced as part of President Donald Trump’s tax plan known, provide incentives for developers to build in low-income communities by providing substantial tax benefits. Within Miami-Dade county there are 67 designated Opportunity Zones. These are easily located using […]
UPDATE: This property has been sold. We have listed 9,689 sf of first floor office space in the desirable Cypress Creek Office Condo Complex: Lease Brochure Sale Offering Memorandum At Broward County Property Appraiser Fort Lauderdale Commercial Center CC Zoning Condo Docs At Google Maps Floor Plans Uptown Urban Village Project (property lies within) Website […]
At almost halfway through the last half of 2018, it’s time to check up on construction activity and the office properties pipeline in Miami and around the country. According to information tracked by CRE research and data platform Yardi Matrix, nationally new office and mixed-use projects encompassing roughly 101 million square feet are on track for […]
Below is a map of current Miami Metrorail stations. For comparison, below is a map of potential Miami rail lines in the future. Who know which of these lines will come to pass. What is evident, however, is that in ten years it will be completely different from today, presumably greatly expanded.
The above chart illustrates how freestanding light industrial properties in Miami-Dade county generally consist of legacy properties. The blue bars indicate the number of properties built in a given year (left axis) with four Miami-Dade non-condo light industrial land use prefixes. Notice there are no bars at the far right? That is not missing data. […]
Both Miami, now with the third most dense skyline in North America (video: watch it grow 1990-2016; interactive growth chart), and Sunny Isles Beach make the list of 18 cities in the USA that have at least five skyscrapers. The tallest building in Miami is the Panorama Tower, rising 868 feet, while the Muse at […]
Richard Fendelman, a Coconut Grove based film maker, has created a 360 degree virtual reality video – embedded herein – showing the demolition underway at Cocowalk, “The Demise of Cocowalk as We Know It in 360° VR.” and Grovite, sent me this video he took of the final stages of CocoWalk called, “The demise […]
At the end of the 2nd quarter of 2018, U.S. Treasury yields, on a nominal basis at all maturities except the longest, increased as much as 25 to 30 basis points. On a real basis, however, rates were essentially unchanged at all maturities. The interest rate environment has the ability to affect commercial property economics […]
This video from Miami Channel 10 News profiled the 16 million square feet being developed on 27 master planned acres as Paramount Miami Worldcenter. The development features 10 to 30 foot sidewalks with retail everywhere, a sprawling 60-story residential tower, links to Metromover and Brightline, a 1,700 room Marriot Marquis with a 5,000 square feet […]
