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Miami Herald Settles on a Building Location in Doral

After its current 14-acre site on Biscayne Bay was purchased by The Genting Group in May 2011 for $236, The Miami Herald has finally settled on a new building. The newspaper will move its headquarters to theB former site of the US Southern Command HeadquartersB in Doral at 3511 NW 91st Avenue in 2013.

The 158,265-square-foot building is “one of the most secure buildings in Florida with a limited-access gated lot with abundant parking, high-impact bullet-proof glass, backup generators with an uninterrupted power supply system, and other construction features.”

Not only did the newspaper secure the deal of the former Command Headquarters in Westpointe Business Park, but an adjacent six-acre site as well which will be used to construct a production facility. According to spokesperson that represented them they chose the site because of its mix of flexibility, functionality and access, as well as its setting in the fast-growing Doral business district.

If you need help finding a commercial space in South Florida to move your business into contact Morris Southeast Group at 866-930-1426.

Source: CoStar Group

South Florida Commercial Real Estate Glut is Being Absorbed

Although things seemed to head downhill more and more after the commercial real estate boom ended five years, they are finally beginning to look up. Experts on the panel at the Florida CCIM Chapter Southwest Districtbs 12th annual Real Estate Outlook Conference stated that the glut of inventory of commercial real estate buildings that were left behind are finally being absorbed.

One of the reasons the surplus of buildings is being absorbed is because there isn’t a great deal of new construction. Take the office sector for example, in 2011 there was only 74,000 square feet of office space constructed and it was all built according to the buyers’ requests. And although there are buildings available in various sectors the best lie in dock-high industrial spaces which have an elevated loading dock door.

If you are interested in investing in the South Florida commercial real estate market contact Morris Southeast Group at 866-930-1426.

Source: News-Press

Miami-Dade Luxury Condo Market Improves

Have you been considering making an investment in commercial real estate by obtaining luxury condos? If so the time is now because the market is improving. Data from the Southeast Florida Shared Multiple Listing Service Database shows that investors purchased more $1 million condos in 2011 than in the South Florida real estate boom in 2006. The sale of nearly 590 $1 million condos marked a 29 percent increase from those purchased in 2010.

Last year’s improvements seem to be continuing seeing as that in the first few weeks of this year 100 units were placed under contract. But, it is unsure how long the improvements will last due to the large volume of foreign buyers and the current economic challenges in the European Union.

If you are interested in making an investment in luxury condos located in South Florida contact Morris Southeast Group at 866-930-1426.

Source: The Miami Herald

3 of the Best Companies to Work for are in South Florida

South Florida has long been viewed as a great place to live, but it’s also a great place to work. Fortune recently released their list of the 100 Best Companies to Work For and three are located right here in South Florida.

Coming in with the highest ranking of No. 17 is JM Family Enterprises, the largest Toyota distributor in the nation. B A few of the perks that come along with working at the company located in Deerfield Beach include profit-B-sharing, free haircuts, and a state-of-the-art child-care center. The company also keeps a fleet of yachts for employees to use during appreciation events.B Following is Ultimate Software in Weston at No. 25 which offers health insurance plans with no premiums and coverage for all dependents. Then there’s Baptist Health South Florida in Coral Gables at No. 42 whose employees have doubled within the last 15 years.

If you are interested in moving your company to South Florida contact Morris Southeast Group at 866-930-1426 and let us help you find the best property or office space that fits the needs of your business.

Morris Southeast Group Signs Aviation Dept. to 5 Year Lease

Last week our firm succeeded in signing the Broward County Aviation Department to a five-year lease at Airport Commerce Park in Dania Beach, FL. Working alongside Koreena Rivers and Lois Paskow to represent the landlord, ACP Partners, LLC, we were able to garner a competitive lease rate as well as a full build-out for the 23,778-square-foot transaction.

The property, which is located at 4101 Ravenswood Road, is a single-story campus style building which will be used to house administrative offices. Given the design of the building it offers quick and easy transit from the car to inside. The new, incomparable location will also make it easier for the avaiation department’s staff to observe and manage the oversight of an upcoming runway expansion project.

If you are looking for tenant representation in South Florida don’t hesitate to give Morris Southeast Group aB call at 866-930-1426 or visit morrissegroup.com.

 

Boca Raton Looks Forward to Waterfront Dining

As the only major city in Broward and Palm Beach Counties that lacks waterfront dining, Boca Raton is looking forward to it in the near future. The city bought the Intracostal dock in 2009 for $7.5 million four years after the final restaurant closed its doors, and the city council has finally given the go-ahead for restaurants proposals.

The city’s marine board has hopes that the waterfront dining will attract visitors and boaters to Silver Palm Park and downtown Boca Raton. Using a restaurant such as Delray Beach 84 as an example, the board predicts that people will park their boats along the dock then spend the entire day in the area. The city plans to sift through all the restaurant proposals within the next month and choose the one the like the best. The restaurateur will be charged rent by the city to recoup for the $7.5 million taxpayers paid.

What are your thoughts on Boca Raton finally receiving waterfront dining?

Source: WPTV

Tips on Getting Your Office Space Ready to be Leased

Are you ready to lease your current office space because you’ve outgrown it or it’s time to downsize? If so we’re sure you want to get the best return possible, but in order to do so there are a few things you must do before hand to prepare your space. To make sure your things are in the best condition consider these tips on getting your office space to be leased:

Take stock. Make an evaluation of your office and its assets by asking detailing what amenities are available, whatbs lacking, whatB upgrades would make it more attractive.

Get ready to work or hire help. When getting an office ready to be leased make sure the building is clean and in good condition on the inside and outside, and also be sure to double check compliance with current safety and zoning laws.

Modernize. If your space is older make energy efficient upgrades to the lighting, heating and cooling systems, plumbing and flooring to appeal to a wider range of lessees.

Set the stage. Help future tenants see themselves in your building by staging the office space.

Get help. Consider enlisting aid from our team here at Morris South East Group by calling 866-930-1426. You can rely on us for market knowledge, valuable insight, expertise and resources to guide you through the process of real estate decision-making.

Tips adapted from JDSupra

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Slow, but Encouraging Trends of the South Florida Job Market

The South Florida job marketB has been experiencing a slow recovery within the last few months, and recent numbers show that the hiring rebound will continue throughout this year. Although things will continue to be slow there are a few encouraging trends that support the rebound which include:

  • Falling unemployment: Unemployment in Miami-DadeB hit a record of 13.4 percent in June, but in the more recent report unemployment had fallen to 10.2 percent.
  • Increased job security:B The Labor Department announced that nationwide claims for initial unemployment benefits are still below 400,000. Last month in Miami-Dade first-time claims declined 27 percent to 7,500 and 25 percent in Broward to 5,000.
  • Job growth:B Miami-Dade recovered nearly 30 percent of the 91,000 jobs lost during the recession, and in recent months job growth has been between 3 and 4 percent for Miami-Dade and Broward counties.

To receive more information on the South Florida job market as well as commercial real estate news subscribe to have our posts delivered to your email inbox!

Source: Miami Herald

 

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