Category Archives: Real Estate
Industrial Activity Strong in Miami with Limited Suppl...
In 2015, Miami has been one of the strongest markets in the country for industrial real estate, due in large part to a land supply constraints. In Miami Dade, vacancy for this type of space was 3.4% at the end of 2015. As of January, available space declined 7.2% in January from three months prior, and square footage was down 8% year over year with …
Strong Activity in Downtown Miami Echos County Trends
In Downtown Miami, condo and retail space has seen record activity, but a new independent study commissioned by the Miami Downtown Development Authority (DDA) reports that office towers are the hottest asset class in the area. Nearly 450,000 square feet of office space has been absorbed in the past two years. Multinational companies have used Miami as their base to enter the US market …
Are CRE Prices beginning to drop?
The commercial real estate market has remained consistently strong throughout the U.S. in the past several years. Prices doubled over six years, from 2009 to 2010. Last year, in 2015, commercial property values in the U.S. rose 10% on average. The Moody’s/RCA Commercial Property Price Index reported that prices for commercial real estate in the U.S. dropped 0.3% in January, which is the first …
2016 Market Report Miami-Dade County Commercial Real E...
Overall, the current state of the Miami-Dade County Commercial Real Estate market is very healthy. Rental rates per square foot for all regions, including North, NW/Medley, Hialeah, Central-East, Central-West, Central, Airport-West, Bird/Tam and South—all located within Miami Dade—continued to rise to just under $11 sq.ft. while vacancy rates for Class A commercial industrial buildings continued their downward trajectory to under 5 percent.
Latin America Influencing Miami’s Economic Outlo...
The International Monetary Fund recently predicted that growth in Latin America will be negative in 2016. This will be the second straight year of losses in the region. With many industries in Miami intertwined with Latin American business and economics, the negative effects are being felt locally. Tourism, retail, trade, and banking are seeing decreases in activity due to the foreign economic plights. Visitors …
Where is interest in Miami Real Estate coming from?
Miami has long been an international market. The city is impacted by a multitude of cultures, but Latin influence prevails. The same has been continuously true for the commercial real estate market. Foreign investment in the market been strong for some time, with South American interest dominating. A barometer of foreign interest in Miami’s real estate market has been internet searches originating from home …
Market Spotlight: North Beach Miami Development
North Beach Miami is a largely undeveloped area which stretches from 63rd Street to 87th Street, and westward from the ocean to the bay. The buildings feature flat roofs, acute angles and curved walls, reflecting the Miami Modernism style, or MiMo. They are charming buildings, although worn and in need of repair. Keith Darby, president of Rise Realty, describes the area as “full of …
Where in the Real Estate Growth Cycle is Miami?
When investing in Real Estate, most will consider where in the cycle the market is to guide their strategies and decisions. In Miami, most believe that the market is either in mid-cycle or beginning to slow down. The Miami Real Estate market’s health is largely indicated by the rental and condo market. When people are building and buying condos, the market cycle is considered …
Miami is Internationally in Fashion
There’s no question, Miami real estate is on the Rise. When comparing the young city to its recent past, it is almost unrecognizable due to its desirability, demand, development, geographical accessibility and affordability. While sales continue to elevate, prices remain relatively attainable compared to the likes of international marketplace competitors. Miami is the international gateway to Latin America. Miami’s growing neighborhoods, such as the …