SeniorVice President

LYND

 

"Distressed properties still exist in the market but values being offered for these properties continue to increase.  

A new wave of distressed product is expected to hit the market in the late 3rd/early 4th quarter driven by maturities of debt originated in 2007 which cannot easily be refinanced without significant equity capitalization.  We don't expect that Miami Industrial will be a strong component of this distress due to the incredibly tight occupancy and an increasing trend in rental rates.  Values for these property types tend to better resemble those found before the recession and sellers of these vintages can still reasonably expect a premium to their debt upon reversion."

 

Specialty: Industrial / Office

 

 

Senior Associate

Industrial Brokerage Services

Cushman & Wakefield

 

 

"Same positive story, different month.  As Airport West/Doral continues to lead the way, leasing activity remains solid across the Class A/B+ markets with rental rates at or surpassing the $9.00 per square foot threshold for the Class A assets. The Medley market follows suit, as history dictates, with Class A space rental rates roughly $0.75 cents behind those in Airport West/Doral. On the sale side, we expect to continue to see a number of owner-occupied/user sale transactions across the board, with Class A buildings in excess of 50,000 square feet trading above [the] 

$80 per square foot mark.  

 

Specialty: Industrial

 

Principal

Taylor & Mathis

 

 

  

 

"The Miami-Dade County office market continues to improve in terms of absorption and rental rate growth. There has been more than a quarter of a million square feet absorbed in the 3rd quarter of 2012, alone. We are seeing a bevy of tenant expansions in the professional services sector, as well as with multi-national corporations. 

There was so much downsizing 

with tenants from 2008 through 2011, 

that some of these companies are now having a hard time trying to hire employees, due to their lack of vacant offices in their suite and their inability to get contiguous space. Landlords are projecting for less tenant concessions and for higher rents in 2013

and believe rents may spike 

another 10% in 2014-2015."

 

Specialty: Office-Landlord Representation 

Senior Associate

Capital Markets / Private Capital Group

 

"Capital is still flowing into South Florida with foreign and out of state equity.  More and more lenders are willing to dip their toes in the water with exceptional rates/terms provided the sponsor has a proven track record of success.  More and more trades are occurring that are not short sales and are true arms length transactions 

which is a great sign that the 

capital markets are functioning properly."

 

Specialty: Office/Industrial Invest. Sales

 

Executive Director, Industrial Brokerage

Cushman & Wakefield of Florida

  

 

 

 

"The increased global trade demand has caused the South Florida Industrial market to strengthen significantly in Miami-Dade and the trend is continuing north into Broward and Palm Beach counties.  4th Quarter 2012  will experience strong positive absorption and leasing activity in the market and will result in lower vacancy levels in 1st Quarter 2013 and throughout 2013.   There are several planned projects for increased Industrial Development in Broward and Palm Beach counties further proving the

confidence in the market."

 

Specialty: Industrial and Land

Senior Vice President

Jones Lang LaSalle

 

 

  

"Mirroring the economy, the market shows flashes of potential growth while at the same time indexes are indicating a slowdown. In just the past few weeks we have started working on two requirements that would represent new business to South Florida. Simultaneously, decisions on current activity are dragging due to the continuing uncertainty of the economy and the pending election. The fact that there is no new construction will contribute to the market remaining somewhat stable."

 

Specialty:  Tenant Representation