MIAMI, FL (NOVEMBER 17, 2022) – Lee & Associates South Florida Principal Matthew Jacocks demonstrated his multifamily dealmaking prowess by representing both sides of the sale of a Lauderhill apartment development site. Jacocks is also partnering with veteran developer Yury Gnesin in the 441 Arthouse project to be constructed on the site. The $7 million transaction closed on Nov. 17. The seller of the 1901-2051 N. State Road 7 site is 2001 Property Ventures, LLC….
Higher Borrowing Costs Cool South Florida’s Sizzling Multifamily Market
Higher Borrowing Costs Cool South Florida’s Sizzling Multifamily Market Buyers are offering less, lenders are pulling back, and developers are slowing down By Mike Seemuth – Commercial Observer November 14, 2022 South Florida has been one of the hottest rental housing markets in the nation. But even in sunny Miami-Dade, Broward and Palm Beach counties, higher interest rates have cast a shadow on debt-funded acquisitions of apartment buildings and multifamily development. Despite the fundamental strengths of…
High-end execs, young workers spur Miami Beach offices
HIGH-END EXECS, YOUNG WORKERS SPUR MIAMI BEACH OFFICES. Miami Today discusses the latest Miami Beach office market trends with Lee & Associates South Florida’s Multifamily Specialist, Matthew Katzen. November 9, 2022 By Abraham Galvan A young employment base, high-net-worth executives and boutique-size companies are driving the office space market in Miami Beach, according to local real estate experts. Hedge funds, tech companies, real estate companies and private equity firms are relocating or opening…
Rising interest rates slow apartment deals across South Florida
Rising interest rates slow apartment deals across South Florida By Erik Bojnansky – Reporter, South Florida Business Journal Oct 24, 2022 Rising interest rates are making it difficult for developers to build more apartments and investors to close on multifamily building deals. Matthew Jacocks, principal of Lee & Associates Commercial Real Estate Services’ South Florida office, said rents will likely remain high and vacancies low as more people move from other parts of the nation to South…
Lee & Associates South Florida Q3 Report: South Florida’s Retail Market on Fire, Industrial Vacancies Remain at Historic Lows
South Florida’s Q3 Market Report Reveals Retail Market on Fire, Industrial Vacancies Remain at Historic Lows Q3 Office rents stay on upward trajectory, while multifamily transactions slow down amid rising interest rates… MIAMI, FL (October 20, 2022) – Mirroring a national trend for he third quarter, South Florida’s retail market is benefitting from sharp vacancy declines and rent increases across the tri-county area, according to the latest Lee & Associates Q3 2022 market report…
Developers are Finding New Paths to Multifamily Projects
DEVELOPERS ARE FINDING NEW PATHS TO MULTIFAMILY PROJECTS. Miami Today discusses the how developers are finding new paths to multifamily projects with Lee & Associates South Florida’s Multifamily Specialist, Matthew Jacocks. October 13, 2022 By Abraham Galvan As land continues to be scarce in Miami-Dade County, high construction costs are making developers find alternative ways to complete and deliver multifamily projects. The inability to get construction materials, appliances, and fixtures on time and…
Commercial Property Executive features Matthew Rotolante to Discuss Foreign Investors in US Markets
Foreign CRE Investors Weigh Opposing Forces Jeffrey Steele | October 11, 2022 While the strong dollar makes acquisitions costlier, the U.S. offers a safe haven from geopolitical upheaval. International geopolitical and economic uncertainty has solidified the standing of the U.S. as a port in the storm for foreign investors in commercial real estate. History’s third-highest cross-border volume year came in 2021, when in spite of persistent pandemic-related angst $62 billion was invested in all U.S….
Matthew Rotolante, SIOR, CCIM honored as a 2022 GlobeSt Industrial Influencer
Matthew Rotolante, SIOR, CCIM honored as a 2022 GlobeSt Industrial Influencer. GlobeSt names their top picks for Industrial Influencer across US markets that serve the industry by navigating new trends in Industrial real estate. September 2, 2022 The industrial asset class shows little sign of wear and tear, although it is equally true that the category is not surging as it did last year. That, though, is a function of the economy and…
Lee & Associates Brokers $4.5MM Sale-Leaseback of Industrial Warehouse in North Miami-Dade
MIAMI, FL (AUGUST 10, 2022) – Lee & Associates South Florida President Matthew Rotolante, and Vice President Conner Milford broker the sale-leaseback of an Industrial Warehouse located at 13281 NW 43rd Ave in Opa-Locka, Florida, North Miami-Dade County. The $4.5 million sale of the 28,341-square-foot building closed on August 1st. The brokers represented seller, Dube Holdings, LLC (d.b.a. Oceanview Window Coverings, Inc), in the sale-leaseback of the entire 28,341 SF building on 1.05 acre parcel….