Real Estate Blog

Major Retail Developers Flock To Miami’s Commercial Market

Local market experts recently said at the recent Realtors Commercial Alliance (RCA) Midyear Update hosted by the MIAMI Association of REALTORS® (MIAMI) that major retailers and developers are choosing South Florida for significant projects as the region’s brand and population grows. “Miami is the place to be,” Ronald Kohn of Kohn Commercial said. “You can go around the world and you don’t have to say you’re American. Just say you’re from Miami and everybody knows it. In Miami, CBRE Project Management had recently announced the unveiling of the new AC Hotel by Marriott in Aventura, Florida. Developer Norwich Partners LLC ...
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Building Mixed Offices Still Lags

For the workplace, companies today require different needs. The question amongst the real estate sector is: Why aren’t any mixed office buildings being developed today? According to CBRE, people everywhere recognize that technology has changed the workplace forever. It certainly is true. Today’s companies are required to be “high tech.” From personal choice, wellness, mobility, collaboration, flexibility, shared space, and work-life integration, these are areas found to be highly valued within any industry. There is no equal development for this. The recent article in Blueprint Magazine online presented by CBRE suggests that most commercial developments today are designed for only ...
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South Florida Talent Is Attracting Companies Left And Right

When it comes to natural resources, people are considered to be “it” as businesses look to hire and hire and expand in South Florida and markets across the United States. The midpoint of 2016 is a perfect time to assess the labor market's health. With today's economic uncertainty, companies still remain positive despite such challenges.South Florida's hiring outlook continues to grow. South Florida employers are expected to hire at an “optimistic” pace July through September, according to a Manpower staffing survey recently released. The research had regional employers surveyed and found that 22 percent plan to hire more employees during ...
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Orlando Listed At The Top Of Most Friendly Cities

Orlando is not only the theme-park hub of central Florida, it is also listed as one of the most friendly cities. Competitive Alternatives 2016, the latest 2016 edition of the biennial KPMG series showed that the city is listed as one of the top three most cost-friendly cities to do business of the 31 large cities with populations exceeding 2 million that were analyzed. Coldwell Banker Commercial also released an annual ranking of the top commercial real estate markets for 2015, and Orlando ranked among the top metro area markets. In 2014, Orlando’s metropolitan area attracted 62 million tourists, setting ...
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The U.S. Commercial Real Estate Outlook Still Looks Good

The United States economy sputtered during the first quarter of 2016, as global economic activity throttled back and companies found financial markets’ volatility unsettling, according to Realtors.org recent Commericial Real Estate Outlook report. Real gross domestic product (GDP) rose at an annual rate of 0.5 percent, based on the first estimate from the Bureau of Economic Analysis. The report also indicated that the corporate outlook took a downward turn, with business investments dropping 5.9 percent on an annual basis in the first quarter. Commercial real estate investments were also cut back. According to the Commercial Real Estate Outlook report, businesses ...
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Palm Beach County’s Office Market Is Still Tight

This year’s CBRE Real Estate Outlook report indicates that the office market in Palm Beach County still remains tight so far within the first three months of this year. Cushman & Wakefield’s first-quarter report had indicated Palm Beach County was in the top 10 rank among 87 metro areas in absorption of office space and office rent growth. According to the CBRE report, office vacancies fell to 18.9 percent, while the rent prices have rose for 10 quarters in a row. “Traditional concessions, such as free rent, generous improvement allowances and free garage parking, are almost non-existent,” CBRE stated. Palm ...
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South Florida Attracts Middle Eastern Real Estate Investors

Over the past two years, foreign investment has been pouring into South Florida's commercial real estate market, according to the CBRE report Florida: A Destination for Global Capital. The recent report indicated that cross-border capital flows into the United States have risen dramatically. It also highlighted that in 2015, foreign investment in Florida commercial real estate reached its highest rate in nearly nine years. The top markets capturing Middle Eastern investments were New York, London, Singapore, Hong Kong and Paris. The Miami area was the 10th most popular global destination for Middle East investment over an 18-month period ended in ...
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Digital Reality Takes Hold In Commercial Real Estate

Technology innovators of today could soon disrupt the commercial real estate sector. The commercial real estate industry has been very slow to adopt digital transformation. Wharton authors Michael Berman, Barry Libert, Megan Beck and Jerry (Yoram) Wind believe that this has to change with both mental and business models or risk getting disrupted by tech innovators and have outlined a five-step process called PIVOT to help companies change. “The way we lived, the way we consumed, this whole ownership economy much of it emerged out of driving our cars. We built a big house in the suburbs, we moved there, ...
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Exclusive Interview: Jeremy Wacksman of Zillow, Leading With Mobile In Real Estate

Jeremy Wacksman is Chief Marketing Officer at Zillow. Jeremy is in charge of consumer marketing in this role and oversees strategy and product management for the company. He is a mobile first innovator, where prior to joining Zillow, Jeremy drove marketing and product management for Microsoft’s Xbox LIVE and consumer mobile effort. Prior to working at Microsoft, he has also worked in sales and product management for Trilogy Software. I had the opportunity to interview Jeremy while working at International Business Times. Here are some interview highlights: Jennifer Lynn: Mobile has been driving a wave with both disruption and innovations ...
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Oversupply May Catch On To These Commercial Real Estate Sectors

In the United States, Commercial Real Estate certain sectors may be affected by oversupply. According to UrbandLand, construction during the current real estate cycle has generally stayed below historical trends, but deliveries have increased as the cycle matures, prompting a look at whether markets are becoming overbuilt. The following highlights the specific sectors which oversupply may be nearing: Hotel: STR’s July hotel pipeline report showed 171,276 rooms in 1,305 projects under construction, a 32.6 percent increase from last year. Metro areas with more than 5,000 rooms underway included New York, Los Angeles, Dallas, and Houston, while Miami has been affected ...
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