The Federal Reserve’s decision to raise its overnight rate by a modest 25 basis points to a range from 0.5 percent to 0.75 percent will most likely slow down CRE deals as we enter 2017. Rising interest rates may force asset re-pricing and play a significant role in the commercial real estate market this year. […]
Last week’s Miami Today contained an interesting article about the role the suburban office market is expected to play in 2017 CRE. As I discussed with reporter Catherine Lackner, the increasingly difficult commute to Miami’s central business district and rising rental rates is progressively pushing demand for office properties located in the suburbs, including Kendall, […]
Miami-Dade County produced a 1.4 percent growth in jobs (15,300) from October 2015 to October 2016 with mixed results among sectors, according to a recent report by the Beacon Council, a public-private agency. This data is significant when considering an investment in commercial real estate. Job growth often sparks demand, which subsequently applies upward […]
The volume of office investment sales in Miami remains high but essentially unchanged from a year ago. Yet, if we dissect the nature of the deals, we find that institutional investors were behind many of those transactions, according to Marcus & Millichap’s 2H Miami Office Report. On the other hand, trades in lower price tranches […]
Real estate investors are increasingly turning their attention to Little Haiti, Little River and Allapattah—communities north of downtown Miami. Neglected for decades, investors are now betting on the transformation of those communities as signs of change are rapidly appearing. For example, Little Haiti commercial lease rates averaged $2 to $3 per square foot in 1998. […]