Vacancies in the Miami retail market first began falling in 2011 and it seems as they will continue along the same trend. According to reports from Marcus & Millichap they project that the vacancies could fall even more due to the increase in tenant demand and increase in employment. If so the result would be a drop to 6.2 percent, the lowest year-end level to be seen in four years.B The firm is also projecting that asking rent will increase to $23.65 per square foot with effective rents increasing 1.1 percent toB $20.08.
If you are interested in investing in the Miami retail vacancies contactB the leading provider ofB South FloridaB commercial real estate servicesB and specialist inB Miami tenant representation,B Morris Southeast Group, at 866-930-1426.
Source: The Real Deal
The Miami Design District was poised to become a high-end fashion destination and it is well on its way. It was recently reported that the Design District located north of downtown Miami is set to become the home for over 24 luxury retailers. A few ofB the big name headliners that will open boutiques include: Fendi, Zegna, Louis Vuitton, HermC(s, Christian Dior, Fendi, Bulgari, Pucci, De Beers, Celine and Marc by Marc Jacobs.
By 2014 developers expect to have a total of 40 to 50 luxury retailers occupying 400,000 square feet of space in the area. The vast list of luxury retailers that have signed on proves that there is a great deal of potential for the Miami Design District to follow suit of areas such as SoHo in New York.
If you are interested in moving your business to the Design District and you need representation call Morris Southeast Group at 866-930-1426.
Are you a foreign investor looking to invest in commercial real estate in South Florida? While now is a prime time to invest in real estate due to the flat and declining prices, as well as foreign currencies outweighing the value of the U.S. dollar, the process can be complex if not navigated properly. If ensure that your investment fairs as smoothly as possible keep these three things to know about foreign investments in mind:
- Because of estate tax and other issues structure the purchase before viewing properties. The corporate entity that the propertyb s name will be under should be set up before choosing a building or office space.
- When it comes to financing be sure to comply with currency rules in your home country and know cash transactions must be times and deadlines for escrow funds and closing cannot be moved.
- Be sure to have the correct visa for the amount of time you plan to spend in the states.B The best visas require a direct investment in an American company in the United States or establishment of a local subsidiary of a foreign company
Source: Miami Herald
Have you ever been reading one of our posts on commercial real estate or the South Florida market and thought to yourself that the post would be perfect for someone you know? If so did you share it? If you didn’t we want to make you aware of the two easy ways you can share our posts with your friends or family.
The first way is by retweeting on Twitter, or sharing it though Facebook. To do either all you have to do is click on the Facebook or Twitter button at the top of the post just under the title, login and then click Tweet or Send.B The second way is subscribe to our blog and have the emails sent directly to your inbox. From there you can simply forward the posts you would like to share to anyone in contacts. And if you are’t sure how to subscribe take a look at this post that tells you how. Thanks for reading and sharing!!
While the South Florida commercial real estate market has not completely rebounded it is in better shape than any of the other U.S. industrial markets thanks to international trade, according to the 2012 Commercial Industrial Association of South Florida market report.
Out of all of the various commercial real estate sectors the industrial sector is improving the quickest. Part of the reason being has to do with Latin America’s economic strength paired along with Miami’s many infrastructure projects which has allowed South Florida to continue on as a center for worldwide trade. For example, through November of last year 79 warehouses totaling over 10,000 square feet were sold, as well asB 320 industrial condos.
If you are looking to make an investment in commercial real estate in South Florida B by purchasing industrial or office space contact Morris Southeast Group at 866-930-1426.
Source: Miami Today News
We recently made an official announcement that one of South Florida’s leading foreclosure defense law firms, Oppenheim & Pilelsky PA, renewed its lease and expanded its occupancy at the Weston Corporate Center I located in Weston, FL.B With representation from
The lease is the 8thB law firm transaction we’ve managed since June of last year, with one being a lease representing the landlord and theB seven others being tenant representation deals. Commenting on the volume of law firm representation Ken Morris stated,
Web re at a place in the economic cycle in which law firms are busy contesting or unwinding business transactions made prior to the recession, and many of them are growing locally. Over the years web ve represented dozens of professional firms with commercial real estate services and as categories go, it has become a core competency for our firm.
If you are looking for representation as a landlord or tenant in the South Florida area call Morris Southeast Group at 866-930- 1426.
Are you thinking about relocating your company to a business park because of the many benefits including decreased maintenance costs, a strong business environment and increased exposure to name a few? If so you may as well consider the top business parks in South Florida.
5. Miramar Park of Commerce; 540 developed acres
4. Gratigny Central Industrial Park; 580 developed acres
2. Sawgrass International Corporate Park; 650 developed acres (tie)
2. Miami Lakes Business Park; 650 develop acres (tie)
1. Flagler Station; 879 acres
If you would like to invest in a unit in business park or you need representation selling your current space in a business park call Morris Southeast Group at 866-930-1426 for all your commercial real estate needs.