Industrial Landlords More Willing to Negotiate Lease Terms, Report Says By Erik Bojnansky – South Florida Business Journal May 1, 2023 Although rents continue to rise in South Florida, landlords are more willing to negotiate with tenants on lease terms, a recent brokerage report states. According to Lee & Associates’ industrial market overview report, the average asking rent for an industrial space was $15.40 per square in the first quarter of 2023, a 28.23%…
Lee & Associates Q1 Report: South Florida’s Retail Sector Continues to Outperform National Average, Multifamily Market Softens
South Florida’s Q1 Market Report Shows Region’s Retail Sector Continues to Outperform National Average, Multifamily Market Softens Local industrial and office sectors record relatively flat vacancies year-over-year, but demand remains strong… MIAMI, FL (April 27, 2023) – South Florida maintained its status as a national retail sector standout in the first quarter of 2023, according to Lee & Associates South Florida’s Q1 2023 market report. The region’s multifamily market continues to soften, however, with…
Forecasting a 50% Cut in Industrial Big Box Construction Groundbreakings
Forecasting a 50% Cut in Industrial Big Box Construction Groundbreakings Too many financial headwinds for the Industrial sector to continue its strong performance. By Richard Berger – GlobeSt April 10, 2023 Industrial big box construction has performed well lately, but CBRE expects lease transaction volume to dip significantly this year, falling by 50%. The post-peak pandemic leasing rush is waning, according to CBRE, and some tenants are waiting for more macroeconomic certainty. A record level…
Going High-Rent in Humble Hialeah
Going High-Rent in Humble Hialeah The mostly Spanish-speaking, working class city west of Miami is getting a residential makeover By Mike Seemuth – Commercial Observer April 3, 2023 With a majority Spanish-speaking population west of Miami that’s approaching a quarter million, Hialeah is the sixth-largest city in Florida — and the least diverse because it’s so overwhelmingly Latino. The working-class city, just a few miles north of Miami International Airport, is in the geographic center of Miami-Dade…
Accomplished Industrial Brokers Join Lee & Associates South Florida
MIAMI, Florida—March 30, 2023 — Lee & Associates South Florida further strengthened its market-leading team of industrial real estate specialists with the partnership arrival of new Principal Greg Milopoulos and Vice President Christian Baena. The duo has more than 20 years of development, investments sales, landlord and tenant representation experience in the region. Based in Lee & Associates South Florida’s Deerfield Beach office, Milopoulos will head up the firm’s Broward County industrial activities while Baena…
Lee & Associates South Florida Represents Canadian Packaging Solutions Company in Tampa Industrial Lease
MIAMI, FL (March 8, 2023) – Lee & Associates South Florida Vice President Michael Avendano successfully represented Plan IT Packaging Systems in the company’s lease for a build-to-suit warehouse in Tampa, Florida. The Tampa location is the third for the Ontario, Canada-based automated packaging solutions provider. Plan IT Packaging signed a five-year lease for the 27,450-square-foot warehouse to be constructed at 4525 Oak Fair Blvd. The lease term commences no later than April 1, 2024,…
Apartment Rental Market Strong and Stable
Apartment rental market strong and stable Local real estate experts are still predicting the Miami residential rental market will remain strong but say it has stabilized. By Abraham Galvan – Miami Today March 7th, 2023 Overall, the rental market is still strong and it varies by submarket, said Johnny De La Espriella, senior vice president of operations for RKW Residential. “A couple of data points are that apartment rents are not growing in the historical levels…
Lee & Associates South Florida Continues Growth with Addition of Multifamily Investment Sales Specialist Andy Hidalgo
MIAMI, Florida—February 16, 2023 — Lee & Associates South Florida continues to attract talented commercial real estate professionals spanning all sectors. In the latest example, multifamily investment sales specialist Andy Hidalgo has joined the firm as Senior Vice President and will help grow its multifamily investment sales division in Florida and across the Southeast. Hidalgo arrives at Lee & Associates South Florida after serving as a Corporate Real Estate Advisor with a national commercial real estate…
Daily Business Review Chats with Matthew Katzen in Special Reports on Miami’s Office Market
SPECIAL REPORT #1: Tenants Are Leasing the New Buildings, but Can Lenders’ Concerns Slow Demand? February 13, 2023 By Melea VanOstrand The pandemic changed the way many companies operate, and with remote work a norm for many, office buildings are facing a new challenge: how to attract workers back to the office. The office building that’s able to attract returning workers will have the most successful leasing numbers, according to Suzanne Amaducci-Adams, head of Bilzin…