Commercial real estate

Sometimes, when investors see a good deal, everyone benefits. This is exactly what’s going on with the commercial real estate in the Miami area at present and, given current real estate trends, the investors that are driving this beneficial activity are going to see tidy returns for putting their money into the area.

The Stage

After the real estate crash devastated the market in 2007-2008, many areas of the nation were hit hard. Florida was hit very hard though, over the past few years, it has been picking up steam steadily again. Commercial real estate in Miami saw the same hardships and, when consumers stopped spending money, some of the shopping centers in the area fell into disrepair. Prices, of course, dropped and the shopping centers simply couldn’t be sold.

Things Improve

Where some people see a crisis, as the old saying goes, others see an opportunity. Investors are currently taking advantage of the fact that there are several factors making it an excellent time to look into investing in the area.

First, lending is very inexpensive at present. Investors are able to put a lot of capital into an investment and not have to worry about the cost of that lending making profits a long time in coming.

Second, home sales, condo sales and commercial real estate sales are all on the upswing in Florida, and have been for some time. This makes the market very attractive to investors who want to get in on a good deal before it evaporates.

Third, there are plenty of excellent commercial spaces available that only need some improvement. Shopping centers have been very popular with commercial real estate investors. While the condo sales have been picking up and while fewer and fewer houses in Florida are vacant, there are many shopping centers that have fallen in to disrepair. By purchasing these properties, renovating them and renting them out, the investors take advantage of long-term profits.

The Universal Advantage

Location is everything where real estate is concerned. Because these shopping centers improve the viability of any location, there are benefits to those who own real estate in the area. Of course, real estate is not all about investment: it’s about living space. For those who have homes or condos in the area where these new, improved shopping centers are popping up, there is the benefit of having more resources immediately available and, of course, that makes it a better place to live.

New Ways of Funding

Credit is still very tight. For all but the most secure investors, getting funding can be a very tall order. With securities-backed funding and other options, however, it’s possible to get funding very easily and at very desirable terms. It’s also possible to get this sort of funding without having to worry about credit scores. Of course, most commercial investors are out of the league of needing to worry about such things, but this has partially driven the residential real estate market to new places and that means more people are investing in Miami homes and moving into the area, which benefits the commercial investors.

Talking to a Realtor

There are very good realtors in Miami who have been with the market through thick and thin. This means that they’re great sources of information for finding out what kind of investment returns you can expect for buying real estate in the area. These realtors work with commercial and residential properties, so they’re very adept at finding out information that’s relevant to either type of investor. Commercial investors will find them to be very valuable resources.

Is it a Bubble?

For most investors, the word “bubble� used to be a good thing. For those who suffered when the Miami real estate market crashed, it’s a frightening term. Over the past few years, however, the Florida market has seen steady and sustained growth, not the explosive growth associated with bubbles. This means that there is the potential for long-term returns on investments and that investors don’t have to be too worried that they’re putting their money into something that’s going to turn out to be another bubble. These investors are, by and large, aiming for profits that will be coming in for years and they’re going to Florida to seek them out.

Miami Luxury condos

single-family homes and commercial real estate are all shaping up to be good investments in the Florida market. These shopping centers and other investment opportunities will likely be bought up fairly quickly as more investors catch on to what’s happening in this market. If you’re looking for a good place to put your money, this may be the best place of all at present. With investors always on the lookout for good ways to make a profit, more of them are looking at Florida and seeing what the real estate market of the future has to offer in this state.

Several positive articles appeared in Sun Sentinel as well as Miami associations of Realtors:

Sales of Miami condominium

units jumped 134% in January of 2011 compared to January 2010, according to a report from the Miami Association of Realtors. A total of 1,262 condo unit were sold last month, compared to just 540 in January of 2010. The report is based on data from the 25,000 member Miami Association of Realtors and the Southeast Florida Multiple Listing Service. Sales of single-family homes rose 55 percent last month compared to January 2010. “These significant increases in sales for both single-family homes and condominiums reflect the strength of the Miami real estate market,” said Jack Levine, chairman of the board of the Miami Association of Realtors.

Also, there are Fewer vacant new homes in South Florida

Paul Owers reports on February 25, 2011 that the surge in buying existing homes in January did not translate to new home sales, which fell 12.6 percent last month. People aren’t bothering to buy new homes when they can scoop up low-priced foreclosures and short sales.

But here’s a bright spot for home builders: the inventory of finished vacant new homes is declining in many markets across the country. South Florida’s inventory dropped 10 percent in the fourth quarter compared to a year ago, according to Metrostudy. The Palm Beach Gardens research firm considers South Florida to be Miami-Dade, Broward, Palm Beach, Martin, St. Lucie and Indian River counties.

Of the 33 markets nationwide that Metrostudy analyzes, 26 saw year-over-year declines in inventory.

“South Florida, like most markets in the country, is seeing a nice reduction,â€� Metrostudy’s Brad Hunter said. “That’s a necessary thing. That puts less downward pressure on prices.”

Miami Condos

have always been popular with those who want to call Florida home. There are also plenty of condominiums, particularly on the ocean in Fort Lauderdale and Miami Beach that are owned by people who call the area their second home. The inventory for properties at luxury developments such as Jade Ocean, located in Sunny Isle Beach, has been dropping consistently over the past couple of years. As the shocks of 2008 have faded, investors, developers and individuals are all looking to acquire properties in luxury markets and at luxury developments.

The inventory of Miami Beach homes on the market

including luxury and condominium properties, has dropped almost 40 percent in the last two years, according to recent reports. People are buying Miami real estate again, particularly at the high end. Not all of these buyers are bargain shoppers, however. Luxury properties such as those at Jade Ocean Sunny Isles are commanding high prices per square foot, proving that selling real estate has become viable as a way to turn a profit again.

Jade Beach

is situated on Collins Avenue in Sunny Isles Beach, Florida. This makes it a good representation of luxury real estate in the area. Collins Avenue is one of the most desirable places for the affluent, packed with high-end shopping, dining and other diversions. Easy access to the Intercostals waterway and to the ocean make this area even more desirable. Some properties listed at Jade Beach Miami sell for in excess of $800 per square foot. There are even some that command more than $900 per square foot. While this may have seemed like the result of huge demand during the boom days of the real estate market, today it’s simply a testament to the fact that people are willing to pay for luxury properties.

Properties such as Jade Beach Sunny Isles

appeal, of course, to a particular clientele. With the least-expensive units at the property hovering around $600,000, this is obviously not the type of development that appeals to first-time homeowners, unless they’ve done very well for themselves. This property needs to be marketed to the right segment of the population, and that means the luxury market. While FSBO—For Sale By Owner—properties might be common sights in the residential neighborhoods of the US, the luxury neighborhoods and the expectations of the market demand that a realtor be used to sell these properties. In South Florida, realtors have been able to unload a lot of the inventory that built up after the real estate market crash of 2008, and that has been good news for property owners and buyers.

Jade Beach condo

is a recently-built property, like many of the condominium properties in Sunny Isles Beach. The real estate boom brought tremendous development in this area and, today, it is home to some of the most upscale properties in the area. Though South Beach real estate is usually recognized as the most affluent of the real estate markets in the area, Sunny Isles Beach real estate has established itself as the place to be, with many celebrities and international business people calling the area home. With the number of properties for sale in southern Florida having diminished by over 40,000 total since 2008, listings are becoming scarcer and more valuable.

Jade Beach apartments

offer one-, two- and three-bedroom units available for sale as of the last quarter of 2010. These units ranged in price from $600,000 to over $11 million for the property’s 6-bedroom unit, which was also on the market. These unites have actually gone up in price, on the whole, indicating that the luxury market is not suffering, even in an economy that is generally rated as being very down. These luxury properties, however, are not as ubiquitous on the market as they so recently were. Developers have been snatching them up, as have individual property owners, and the numbers of units available at such luxury establishments as Jade Beach is steadily dropping.

With few listings on the market relative to just a couple of years ago, it may be a good time to list your own condominium. With a good realtor, the market is more favorable than it has been in years and sales are no longer difficult to make happen. In fact, the luxury market seems to have vastly improved over the last couple of years!

For the level of Jade Beach real estate

be sure you engage the services of a suitable realtor. Luxury property is its own market and it takes a realtor who has familiarity with it to make a sale. A good realtor will be able to help you take advantage of the diminishing inventory on the market and the increased enthusiasm in the upscale market. With prices increasing, inventory decreasing and the economy seeming to recover, it’s a good time to consider consulting with a realtor about your property.

According to American City Business Journals the commercial real estate markets for office buildings in major metropolitan areas such as New York, Washington and San Francisco have turned the corner – and
South Florida commercial real estate isn’t too far behind.

The industrial markets are recovering.

Retail, while rents are still depressed, dodged a bullet that could have seen more retailers diving into bankruptcy.

And the investment sales activity that started lighting up dreary real estate skies last year will pick up momentum this year.

Those are the sentiments of Cushman & Wakefield President and CEO Glenn Rufrano.

Rufrano, who took the helm of the world’s largest private
commercial real estate services firm last year, made a stop at the firm’s Miami office this week as part of his road trip to Cushman & Wakefield offices worldwide.

I had a chance to talk to him about the state of the commercial real estate market here and abroad.

He was both bullish and practical about where we are in the cycle.

Through the lens of history, Rufrano says the commercial crash of the Great Recession hasn’t been as protracted as the early 1990s downturn, when there was overbuilding, no capital and properties being dumped by the Resolution Trust Corp. for pennies on the dollar.

“The differences this time are dramatic,� he said. “Because of that, I see a lot more transactions happening over the next 24 months.�

He said federal regulators’ leniency and banks’ decision to modify and extend commercial loans, instead of liquidating them, has proven prudent.

It kept them from suffering bigger losses by unloading properties at the market’s lowest point and further depressing values.

As such, commercial values found a floor and, in some asset classes and markets, are already rebounding, he said.

“I hear this phrase ‘extend and pretend’ and I think ‘baloney.’ It was smart,� Rufrano said, referring to the widely used market terminology for the practice of extending and restructuring defaulted or matured loans.

Office leasing activity is also increasing, he said.

Last year, the nation’s major downtown districts saw the first positive office absorption – with 2.2 million more square feet of offices leased than vacated – since 2007, according to Cushman & Wakefield data.

Improved leasing – paired with little new construction – led to a three-tenths of a point dip in the U.S. central business district vacancy rate. The fourth quarter rate was 14.4 percent.

The picture wasn’t quite as bright in downtown Miami, which saw two major towers open last year and a vacancy rate of 20.4 percent.

But give it 24 months and those empty offices will fill Rufrano predicted.

“It is going to take a little more time before it filters down here. The drivers are different,� he said.

But, empty space hasn’t kept Miami’s central business district from having one of the nation’s highest average asking rents, according to Cushman & Wakefield data.

Miami commercial real estate

came in eighth, with fourth quarter asking rates at $35.33 a square foot – up 23 cents from the third quarter. It was eclipsed by asking rents of $35.58 a square foot in downtown West Palm Beach.

Midtown Manhattan was the priciest district, with an average asking rate of $62.46 a square foot, data showed.

On pockets for growth, Rufrano says he is seeing one clear trend: “When you look at the health care business, there is tremendous growth in that business. Medical office buildings are a very good sector.�

The joint luncheon which took place at the W Hotel in Miami Beach last month, was sponsored by the Miami Beach Chamber of Commerce and the Miami Board of Realtors. It included a panel of leading experts from Banking, Real Estate Developement, Real Estate Sales & a statistical analysts who spoke on the current state of the Real Estate market in Miami and the Beaches.

A very informative, interesting and encouraging conference which discussed the following topics:

*The bottom of the real estate market was last summer 2009.

*Since the bottom , inventory of “for sale properties� went from 11,750 in 2009 to 7,800 in august 2010.

*70% of all sales are purchased all cash.

*More than 50% of buyers are from foreign countries.

*Mortgage rates are at the all-time low and should stay like that for 2011 and maybe even 2012.

*Financing is available, but not easy.

*We have more international buyers in South Florida than anywhere else in the country ,including NYC , Las Vegas & California.

*The panel of speakers all agreed than real estate prices in Miami and the Beaches are at the lowest and we will not be seeing this pricing again in the next 20 years or more…A lot of Opportunities…

*They all agreed on the bright future of the development of Miami.

*They see 2011 being a better year and coming back to a moderately booming market again in 2012.

Click here to see all currently available Miami Beach properties for sale

We have released a new version of our Sunny Isles Miami Real Estate website

that is both user-friendly and includes more detailed user features. The website will still be available in English, Russian and Spanish as well as 26 other languages thanks to Google translate tool.

Whether you’re looking for Miami condos or single family waterfront homes

rentals, land and farms, commercial real estate in Miami, or properties that are still in construction, information is just a click away through Sunny Realty‘s property search. A convenient feature in finding these properties is the interactive map of Miami, which pinpoints condos for sale making it easier to search by favorite location.

On the other side of things, if you’re interested in selling a property, our website provides thorough information about Sunny Realty’s marketing program along with market analysis reports.

Look around the website to find such educational tools as Sunny Realty’s blog, up-to-date news and articles on real estate, and listings of schools in the Miami and Fort Lauderdale area. Also helpful are Sunny Realty’s guides to the fundamentals of Miami foreclosure condos, short-sale fundamentals, and a guide for foreign investors, all found on our new website. Of course, we all know how important access to good food is, and Sunny Realty’s website has a complete list of Miami Beach and South Beach restaurants for you to peruse.

View the website’s charts and complete history for sold condos and homes in order to learn about local market trends. If you have any questions, Sunny Realty has excellent user support and we’re available around the clock, seven days a week via email or phone. We will be available to answer your questions in English, Russian, Spanish, or Dutch.

The sleek, new design of the website, along with its wealth of information, will provide users with an enjoyable experience that is both easy to navigate and educational information for those looking to buy or sell Miami real estate.

WEST PALM BEACH, Fla. – Oct. 20, 2010 – Bargain buyers have to look harder to find foreclosed homes as bank-owned properties were yanked from the South Florida real estate market during the past three weeks.

Four lenders froze foreclosure homes proceedings several weeks ago

after allegations that paperwork was faulty, or in some cases even fraudulent. Since then, the inventory of distressed homes in Palm Beach, Broward and Miami-Dade counties dropped 19 percent from the end of September.

Court auctions also continue to be down, with 59 percent of scheduled foreclosure sales in Palm Beach County canceled Monday. About 45 percent were pulled from the clerk of court’s online auction on Tuesday. Before the foreclosure freeze, the average auction would have about 30 percent of its sales canceled.

It’s unknown how fast Bank of America, which said Monday that it was restarting its foreclosure proceedings, will be able to get its repossessed homes into circulation, but Realtors and investors say they hope the uncertainty clouding the process clears soon.

Also Tuesday, the White House said that an interagency task force on financial fraud has launched an investigation into the foreclosure process.

“If this turns into a lengthy situation, it could really destabilize the marketplace as discount buyers compete for properties or decide to sit on the sidelines if prices get too high,� said Peter Zalewski, a principal with the Miami-based Condo Vultures.

Zalewski’s numbers show 925 bank-owned homes dropped off the market between Sept. 27 and Monday. It was on Sept. 20 that Ally Financial Inc., previously GMAC, acknowledged it was freezing its foreclosure sales, auctions and evictions to review possibly flawed records. The company said this week it is moving forward with foreclosures as documents are reviewed and, if necessary, corrected.

The reduction of bank-owned homes leaves fewer than 4,000 foreclosures on the market in South Florida, including 1,650 single-family homes and 2,271 condominiums.

“The person I wouldn’t want to be is the listing agent on bank-owned properties because effectively they are going on vacation for the next quarter,� Zalewski said.

Some economists have said a foreclosure delay will pump up the economy by slowing the number of discounted properties going to market, which could even out or bolster home prices.

But investor Don Cameron, who owns a South Florida franchise of We Buy Ugly Houses, disagrees. Cameron buys many of his homes at Palm Beach County’s thrice-weekly foreclosure auctions, carefully researching the condition and history of each property before bidding.

When sales are pulled because of the moratorium, that research is wasted, he said.

Also, Cameron’s business involves rehabilitating homes, which means hiring people for construction jobs. Through the sales of the houses, Realtors make commissions, title companies have business, and taxes get paid.

“It’s all a domino effect and it’s stunting and halting economic recovery here,� Cameron said.

Copyright © 2010 The Palm Beach Post, Fla., Kimberly Miller. Distributed by McClatchy-Tribune Information Services.

Miami commercial real estate

presents a great opportunity to buy great commercial properties in Miami and Miami Beach. It’s no secret that some of the most expensive residential real estate is located in the Miami Beach area, and it’s no secret that Miami is home to some of the wealthiest consumers in the country. By purchasing commercial property in Miami, you’ll be able to capitalize on the affluence of the surrounding area. Approximately 1,000 people move to Florida every day, and many of them move to the Miami Beach vicinity, making this an ideal spot to do business.

Although the City of Miami Beach

occupies just seven square miles, it attracts more than seven million tourists. More than $800 million is spent each year on food and beverages alone. With 18,000 hotel rooms, the City of Miami Beach is a hot spot for vacationers from around the world. Few places can boast this kind of ongoing commercial activity and traffic. Beyond tourism, the fashion industry and movie industry thrive in the city.

Miami commercial real estate

as well as Florida real estate offers a variety of tax advantages, including no corporate income tax on limited partnerships and no local income tax in Miami Beach. With no state personal income tax and no corporate franchise tax on capital stock, doing business here is easier than other parts of the country. Electricity used for manufacturing is tax exempt and purchases of equipment to manufacture sale-able items are also exempt. There are incentive programs for new businesses as well. Miami Beach currently has 3,300 businesses with 50,000 employees.

Whether you’re looking for property to develop or retail space to buy in Miami Beach, there are plenty of options on the market. It’s not only an attractive place to conduct business; it’s also an attractive place to live. The Miami lifestyle is what attracts many new entrepreneurs to the area.

Sunny Realty

specializes in all aspects of commercial real estate – we provide most up-to-date information on current availability of commercial real estate in Miami. Click each link below to view what’s currently available on the market:

- Miami Apartment Buildings For Sale

- Miami Franchises For Sale

- Miami Gas Stations For Sale

- Miami Hotels / Motels For Sale

- Miami Medical Buildings For Sale

- Miami Office Buildings For Sale

- Miami Restaurants For Sale

- Miami Shopping Centers For Sale

- Miami Stores For Sale

Miami real estate

offers many excellent reasons to move to the Miami area, and if you are thinking of relocating your business, then you will be glad to know that the opportunities in the area are almost endless. Relocating your business to the area can be an excellent choice since there are plenty of opportunities for your company to grow and earn even more revenue.

However, moving your business can be an overwhelming choice, and you will have to go through quite a bit to make it happen.

The first step you will need to make is to scout out the area. You will want to consider locations and determine which will be the best for your business. South Beach real estate, Sunny Isles Beach real estate as well as Miami Beach real estate can offer excellent locations for your business. Once you have determined which area you would like to move to, you can start your search for the right location.

A great way to find commercial real estate in Miami is to search on the website, where you will find images and details about the property. You will even be able to find out the location and the asking price of the building. If it looks right for you, you can contact the agent listed as the seller of the property.

Miami real estate market

is filled with options for your new business location. All you have to do is consider which ones fit in your price range and which ones offer everything you need for your business.

The Miami area is rich in business opportunities, and you are sure to have success if you choose to move your company. You will just need to take the steps to find a location and purchase your new building. You will then be ready to relocate and begin your new business in the sunny and warm area of Miami, Florida.

You have no doubt heard of the fiasco going on with Florida real estate

because of America’s financial crisis. Of all the industries getting hit, real estate has taken a nasty fall. After all, this is an industry built on the concept of feeling safe and secure. The idea that residents could lose their home or mortgage has people running scared—and running back to renting. The national average is that prices are down about 40% at this time. Even in Southern California (where it never rains) home sales prices are down 30% from their peak, which is the worst it’s been since the 1990s. Florida real estate is down about 35%, New York real estate is down over 40%!

Paying less for a home

should be less of a burden, right? However, the real estate industry hurts most when prices are down. So that leads us to the question: should you buy a house now, when prices are so dangerously low?

There are two points of view to consider

First, that everyone is running scared and the answer is no no no. Millions have already beaten you to it and are partly responsible for real estate’s downward spiral. The same people are telling you that things are going to get worse before they get better. They’re also warning you that if you buy now, you will regret it, as prices may continue to fall in coming months.

There’s another perspective to consider

First, the view is that prices are becoming so low that even renters who would ordinarily not consider owning a home could afford to make that move so they can start building equity. Secondly, there is sincere optimism floating around from Washington and it’s just starting to hit New York, Miami, California, Chicago and every other important financial state. President Obama has stated that the government is developing a subsidizing program that will help potential homeowners should they fall behind.

Billionaire Warren Buffet

who is making headlines by selectively investing money in the recession (most recently Harley-Davidson) once said: “Be scared when everybody is greedy and be greedy when everybody is scared.� Now that’s some billion dollar advice.