Miami-Dade County
 
Alexander Bernaldo, P.A., SIOR

President

Americas Industrial Realty Corp.

 

 

"Leasing and sales activity continue to accelerate. More proposals are being issued and this is translating to more leases ultimately being signed. Tenants no longer have the upper hand in negotiations. 

It is now a level playing field. 

As a result, leases are getting signed 

at higher rental rates. Landlord's focus 

is for the most part on rental rate 

rather than occupancy levels."

 

Specialty: Industrial

 

 

 
Elizabeth Santos

Vice President

Sime Realty Corp.

 

 

"Tenants continue a flight to quality by preferring Class A space.  Companies are providing more collaborative areas for employees but reducing actual workspace when possible.  Landlords are beginning to reduce concessions and hold rental rates more firmly than before.  2013 will see the momentum swing towards the landlords."

 

Specialty: Office Leasing

 
Marty Busekrus

Director

HFF

 

  

 

"Capital is really chasing industrial deals

 hard throughout FL due to the low vacancy rates, little development and the potential increases in rental rates.  Very few investment deals over $10M are being marketed 

so when one pops up, a multitude of buyers are bidding up prices.  Cap rates for core and core plus industrial in South FL are about 5.75% to 6.25% on average."

 

Specialty: Industrial Investment Sales
Broward County
 
Tom O'Loughlin, SIOR, CCIM

Vice President

CBRE | Brokerage Services 

 

  

"Quality product that is for sale remains difficult to source and the low inventory is starting to impact sales prices in a positive manner.  Plus, with the amount of foreclosure and/or REO property significantly down, 

the days of incredible discounts 

are coming to an end. 

We are also witnessing positive momentum 

on the leasing side, especially in south and central Broward, It is only a matter of time before that trend moves north."

 

Specialty: Industrial

 

 

 

 
Kimberly Barbar

Broker Associate

Stiles Realty

  

 

 

"The office market is very active.  With that said, some corporate clients remain reluctant to make long term commitments in the market given the lack of government financial certainty.  We have been fortunate that there are corporate clients who are more concerned about getting what may be one of the last "deals" in the market as opposed to being paralyzed by government inaction."

 

Specialty: Office

Richard F. Etner, Jr., SIOR


Exec. Director, S. Florida Industrial Team

Cushman & Wakefield


 

  

"Clearly our South Florida market is on the upswing.  While we still see vacancy in SE Broward, we also see speculative industrial development for the first time in many years, so absorption is on the way.  

The rabid appetite for anything industrial we have seen in Miami has flowed uphill into Broward, repeating the cycle we have seen repeated over the years.  South Florida remains one of the stronger industrial markets from a National perspective and, as our offshore business continues to grow and people continue to move in the state, 

I am certain our Industrial market

 will continue to flourish."

  
Specialty:  Industrial

 

Palm Beach County
 

Russell Bornstein 

Senior Vice President

CBRE-Retail Brokerage Services 
 

 

 

"Retail Activity in Palm Beach County is picking up rapidly as we head into the 2nd quarter of 2013.  Retail typically follows residential....and with residential on the move (upward) so goes retail. Note that no real retail has been built in Palm Beach County since 2008 so the supply has remained stagnant.  The only new inventory has come from store closings such as Winn Dixie, Circuit City, Albertson's, etc.  and these too have been absorbed. Retail demand is increasing and as a result, one will likely see inventories dropping and rental rates increasing.  One only has to look to Miami-Dade County at a 94.7% occupancy rate to see where 

Palm Beach County is headed."

 

Specialty: Retail Tenant Representation

 

 
 
C. Todd Everett, SIOR

Director-National Office & Ind. Prop. Group

Marcus & Millichap

  

 

"The market is primed for buyers and sellers alike due to pent up demand and limited alternative investment options on the "buyer" side and improving fundamentals in both the broader economy and the industry as a whole, buoyed by compressed yield expectations on the "seller" side.  The result of these market dynamics has been increased pipeline activity and transaction velocity.  The market outlook is looking very promising for at least 

the next several quarters." 

 

Specialty: Office & Industrial Investment Sales

Anthony Librizzi

Vice President

CBRE-Office Brokerage

 

 

"Market fundamentals continue to improve, 

but at the same time, the office sector is clearly going through a transformation. 

 Many businesses are reassessing space needs and recognizing they can function perfectly well with a smaller, more efficient footprint.  As a result, job growth is not giving us the same pop in demand that we have grown accustomed to.  Leasing velocity in the class A office market is definitely improving, and is headed that way in Class B properties as well, albeit more slowly.  

Confidence is returning to the overall market, driven particularly by the 

return of job growth in South Florida."

 

Specialty: Office

 

 


ADVERTISE WITH CRE-SOURCES     |     CONTACT DEBBIE COLANGELO