Greg Matus

S. Florida Regional Managing Partner

 

 

"The retail market in South Florida is starting to sizzle once again.  Consumer confidence is back up and people are spending money shopping and eating out.  Right now, the fast-casual food business is on fire and it's driving much of the growth in commercial real estate. Vacancy rates at shopping centers are on the decline as existing retailers expand or new concepts enter the market.  With retail centers leased up, if you are an investor, now is a good time to think about buying or selling. We are expanding our retail team in South Florida to meet this new demand."

 

Specialty: Retail Investment Sales

 

 

 

Senior Vice President

Blanca Commercial Real Estate

  

  

"The Airport West submarket has gained significant strength due to employment growth and low vacancy in class-A office buildings. The class-B office buildings that were recently renovated are also well positioned. We have begun to increase rental rates in most of the buildings that we lease and continue to see a steady decline in concession packages being offered by landlords in the overall office sector."

 

Specialty: Office

 

 

Senior Vice President

 DTZ South Florida

 

 

"It has been a longer recovery period than many anticipated but the feel of the market has more equilibrium than in past years. What was once a very strong Tenant's market has tightened up a bit with decreased vacancy, especially with large blocks of space.  With that said, there are still great opportunities for Tenants that are interested in exploring cost savings options." 

 

Specialty: Tenant Representation

 

Director

HFF

  

"Very limited deal flow on the industrial sector for institutional quality product throughout the summer.  Major industrial owners can't sell because the re-deployment risk is too high.  If they sell, there's nothing for them to go buy and they are trying to GROW assets under management, not shrink it. Core, unlevered returns are in the low 6% range and most institutions are more than willing to build to core since they can't buy it."

 

Specialty: Institutional Industrial

Investment Sales-Southeast U.S.

 

 

 

 

Vice President

Sunbeam Properties

 

 

 

"We are building in the Miramar Park of Commerce what is likely to be the last warehouse project in the City of Miramar. Rents, land values and construction costs have combined in a manner that precludes speculative warehouse construction beyond this last warehouse project. Last month we were 99 percent leased at the Park, which is a record for us. While rental rates for flex space are still lower than their all-time peak, the rates today are at least 50 percent more than their nadir a couple of years ago. At that time, flex vacancies were hovering around 10 percent at Miramar Park of Commerce. Currently, demand has been strongest from existing tenant expansions, health care and aviation. Notwithstanding, rental rates have not yet risen to the point to justify construction of new flex space."
 

Specialty:Industrial & Flex/Office

 

 

  

"South Florida multifamily continues to remain in demand with ample investor appetite from all corners of the globe.  Limited buying opportunities coupled with more robust financing options continue to push prices up.  Those higher prices are being absorbed by investors as most are very bullish on South Florida's future."

 

Specialty: Multifamily Investment Sales