In the Biz - Commercial Real Estate News
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In the Biz - Commercial Real Estate News
South Florida's Hot Topics - by Shelby G. Smith III, frm CPM, RPA 954-652-2038 Berger Commercial Realty
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Commercial Real Estate News For South Florida

Commercial Real Estate News For South Florida | In the Biz - Commercial Real Estate News | Scoop.it
The 11-story Class B office building is situated on 2.3 acres, with a strong history of high occupancy with long term tenants.
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TikTok, Tight Wallets And Tenets: How Gen Z Is Changing Restaurant Retail

TikTok, Tight Wallets And Tenets: How Gen Z Is Changing Restaurant Retail | In the Biz - Commercial Real Estate News | Scoop.it
Gen Z is increasingly influential in the restaurant industry, which is now tasked with figuring out how to cater their concepts to the generation.
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With Capital And Patience Dwindling, Short Sales Begin To Hit The Office Market | BISNOW

With Capital And Patience Dwindling, Short Sales Begin To Hit The Office Market | BISNOW | In the Biz - Commercial Real Estate News | Scoop.it
Lenders have lost patience waiting for an office sector recovery that has failed to materialize and owners of struggling assets are finding it difficult to refinance debt at terms they can actually pay.
CommerialREFL's insight:

We all could saw the pending issue, perhaps the other shoe has now dropped, and the piper has come forward to collect. 

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Amazon Delays Opening Of Biggest Distribution Center In South Florida | Biznow

Amazon Delays Opening Of Biggest Distribution Center In South Florida | Biznow | In the Biz - Commercial Real Estate News | Scoop.it
The 1M SF distribution center south of Miami is built but lacks the equipment to open, Amazon said in seeking a 12-month extension to open the facility.
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America's Richest Real Estate Billionaires 2023

America’s downtowns are struggling, with empty office buildings and shuttered retail weighing down property values in cities across the country. But not everyone is hurting. In fact, the nation’s richest landlords are actually wealthier now than they were in 2022. There are 25 billionaires on the 2023 Forbes 400 list who primarily owe their fortunes to real estate. These property tycoons are worth a collective $139 billion—about $5 billion more than the 24 in real estate were worth on the 2022 ranking.

Despite the doom and gloom in the office sector, apartments are still a hot commodity, with rents rising nearly 3% over the past year. One of the two newcomers to the list who made their money in real estate, Los Angeles-based developer Geoffrey Palmer, largely draws his wealth from residential properties in L.A. The other new entry, Annette Lerner, inherited her late husband Ted Lerner’s (d. February 2023) fortune, mostly made up of apartments in the Washington, D.C. area.

Still, it’s been a rough time for some of America’s real estate tycoons. The best-known of them, Donald Trump, dropped off The Forbes 400 for the second time in three years. Eight others’ net worths fell by a collective $4.6 billion. Many of these big losers, like Trump, have a sizable portion of their wealth tied up in debt-laden office buildings in hard-hit cities such as New York and San Francisco. Fellow New Yorkers Charles Cohen and Jerry Speyer, both of whom have several office towers in Manhattan, saw their fortunes fall by $700 million and $500 million, respectively. The second-richest real estate baron in America—Stephen Ross, founder of the Related Companies, which built the Hudson Yards development in New York—was the biggest real estate loser over the past year. His fortune shrank by an estimated $1.5 billion.

Via Enzo Calamo
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Commercial Real Estate News For South Florida

Commercial Real Estate News For South Florida | In the Biz - Commercial Real Estate News | Scoop.it
CBRE’s Gordon Messinger, Joe Freitas, and Max Pawk represented Cypress Corporate Center ownership, HS Capital, in each of the transactions. Both Morgan Fidelity Associates and Control Point Associates were represented by Michael Feuerman and Daniel Silver with Berger Commercial Realty.
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Real Estate Transfer: Baby Boomers Secure Generational Wealth by Transferring Property to Children | Smartnews

Real Estate Transfer: Baby Boomers Secure Generational Wealth by Transferring Property to Children | Smartnews | In the Biz - Commercial Real Estate News | Scoop.it
The baby boomers are currently handing down more than $53 trillion to their heirs in one of the greatest transfers of generational wealth in history. Florida's Retirees Are Fleeing: Here'
CommerialREFL's insight:

Have CRE & Heirs...Trust, Gift or Probate... This will help to determine what works best for you...

jpmechservices's comment, August 23, 2023 11:13 AM
good
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Storm Clouds Gather As Apartment Owners With Floating Rate Debt Scramble To Pay Loans | Biznow

Storm Clouds Gather As Apartment Owners With Floating Rate Debt Scramble To Pay Loans | Biznow | In the Biz - Commercial Real Estate News | Scoop.it
A sizable portion of CLO loans tied to apartment buildings are at risk of default as rising interest rates and falling rent growth challenge borrowers.
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5 Of The 6 Largest CRE Brokerages Posted Losses In Q1 | Biznow

5 Of The 6 Largest CRE Brokerages Posted Losses In Q1 | Biznow | In the Biz - Commercial Real Estate News | Scoop.it
The country's largest brokerages are coming off a challenging quarter and expect more to come.
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Residential Development Plunges In South Florida As Rising Costs Hold Back Construction | Biznow

Residential Development Plunges In South Florida As Rising Costs Hold Back Construction | Biznow | In the Biz - Commercial Real Estate News | Scoop.it
Permits for new housing units fell by more than 20% last year.
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Soaring Insurance Costs Could 'Paralyze' CRE, So Investors Are Calling For Reform | Biznow

Soaring Insurance Costs Could 'Paralyze' CRE, So Investors Are Calling For Reform | Biznow | In the Biz - Commercial Real Estate News | Scoop.it
Premiums for commercial insurance at the end of last year were on average up 9.4% across the country from a year earlier.
CommerialREFL's insight:

The rising cost for insurance has become a key issue that has surprised many CRE investors. Increases of over 50% are becomng common.

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What Types of Commercial Properties Should You Invest In?

Commercial property refers to any property utilized for a specific business-related purpose or acts as a workspace for businesses. Often commercial properties are leased (or rented out) to business owners for their income-generating activities. There are different types of commercial Properties. Read More: https://www.joerosati.ca/post/different-types-of-commercial-real-estate-explained

Via Joe Rosati
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REPORT: Office Tenants Have The Advantage To Get More Demanding In 2023 | Bisznow

REPORT: Office Tenants Have The Advantage To Get More Demanding In 2023 | Bisznow | In the Biz - Commercial Real Estate News | Scoop.it
Office landlords face a challenging environment, and it's going to get worse.
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South Florida’s Industrial Market Slows, But Wave Of Sales Signals Investor Confidence

South Florida’s Industrial Market Slows, But Wave Of Sales Signals Investor Confidence | In the Biz - Commercial Real Estate News | Scoop.it
Longpoint Partners, Rockpoint, Faropoint and others made industrial acquisitions in South Florida even as leasing activity fell by more than 20%.
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Federal Reserve Says Economy In ‘Better Balance,’ But No Cuts Yet

Federal Reserve Says Economy In ‘Better Balance,’ But No Cuts Yet | In the Biz - Commercial Real Estate News | Scoop.it
Most economists expect the first cut before the beginning of summer.
CommerialREFL's insight:

Not what I wanted to see... I feel we need a slight reduction in interest for Real; Estate to get back on a solid track. It seems the Feds feel differently...Any Thoughts?

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CoStar News - This New Coworking Venture Takes a Different Tack: Owning Rather Than Renting.

CoStar News - This New Coworking Venture Takes a Different Tack: Owning Rather Than Renting. | In the Biz - Commercial Real Estate News | Scoop.it
The flexible office space industry hit a turbulent point in its history when giant WeWork filed for bankruptcy protection in the past month. Even with that upheaval, one new-to-the-scene coworking operator is looking to shake up the market further with an unusual strategy: owning its real estate.
CommerialREFL's insight:

Could this be one answer for the smaller vacant building or perhaps the conversion to residential is an answer?

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The economy and markets have been addicted to ultra low interest rates, says RXR's Scott Rechler

The economy and markets have been addicted to ultra low interest rates, says RXR's Scott Rechler | In the Biz - Commercial Real Estate News | Scoop.it

Scott Rechler feels that as a society, we became accustomed  to lower rates and costs resulting in an addiction, thus falsely  anticipating rates and cost to go back to pre-pandemic.

CommerialREFL's insight:

Di you feel  higher costs are here to stay or will they go back to Pre-Pandemic?

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Top Ways to Become Successful In Real Estate Investment

Top Ways to Become Successful In Real Estate Investment | In the Biz - Commercial Real Estate News | Scoop.it

To become successful in the real estate field you should have knowledge about government rules. By familiarizing themselves with local zoning laws and building codes; landlord-tenant laws; and tax regulations; as well as networking with experienced professionals, investors can position themselves for success and avoid costly mistakes. Knowledge plays an important role in the real estate field. Nima Bendavood says those who are well-informed will have a significant advantage over their competitors.


Via Nima Bendavood
CommerialREFL's insight:

Who is your knowledgeable go to for Real Estate?

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Broward County: Commercial real estate market | Commercial Real Estate Roundup

Broward County: Commercial real estate market | Commercial Real Estate Roundup | In the Biz - Commercial Real Estate News | Scoop.it
In-depth analysis and perspectives on the issues, people and ideas that define Florida. Statewide coverage of top economic sectors and industries.
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Here's why commercial real estate could become banking's next big worry | CNBC

Here's why commercial real estate could become banking's next big worry | CNBC | In the Biz - Commercial Real Estate News | Scoop.it
RXR Realty CEO Scott Rechler joins 'Squawk Box' to discuss the state of commercial real estate, and how existing commercial real estate loans could create problems for regional banks down the road.
jpmechservices's comment, August 23, 2023 11:13 AM
nice
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Florida Bans Chinese Nationals, Companies From Buying Certain Real Estate | Biznow

Florida Bans Chinese Nationals, Companies From Buying Certain Real Estate | Biznow | In the Biz - Commercial Real Estate News | Scoop.it
Florida Gov. Ron DeSantis signed legislation Monday prohibiting Chinese nationals and those from six other countries from purchasing real estate in the state.
jpmechservices's comment, August 23, 2023 11:13 AM
good
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Bankruptcies, Bank Failures Haven't Dented Retail Real Estate's Recovery Just Yet | Biznow

Bankruptcies, Bank Failures Haven't Dented Retail Real Estate's Recovery Just Yet | Biznow | In the Biz - Commercial Real Estate News | Scoop.it
Demand for space is fueling rent growth for retail nationally, with Q1’s mixed bag of results resulting in cautious optimism among retail’s biggest REITs.
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Judge Rules Commission Was Wrong To Reject Warehouses At Palm Beach Raceway | Biznow

Judge Rules Commission Was Wrong To Reject Warehouses At Palm Beach Raceway | Biznow | In the Biz - Commercial Real Estate News | Scoop.it
The decision is nonbinding, but it forces the county to reconsider its rejection of the planned redevelopment.
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CRE Is About To Be A ‘Real Mess’ And A $270B Problem For The Banks | Bisnow

CRE Is About To Be A ‘Real Mess’ And A $270B Problem For The Banks | Bisnow | In the Biz - Commercial Real Estate News | Scoop.it
There are $270B of commercial real estate loans maturing this year, around $80B of which is secured by office buildings,
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Financial Services Firms Create Snowball Effect For CRE In The Sunshine State | Bisnow

Financial Services Firms Create Snowball Effect For CRE In The Sunshine State | Bisnow | In the Biz - Commercial Real Estate News | Scoop.it
Longtime observers of the South Florida CRE scene say migration has reached a critical mass in the past couple of years.
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