Thursday, December 18, 2008

Miami warehouse

Miami warehouse for lease. This Miami warehouse of 127,000 sq. ft. is now available for lease. The property is located near Miami Int'l. Aiport, Dolphin Expressway and Palmetto Expressway. The Miami warehouse has 16,000 sq. ft. of office space; fully sprinklered; all-concrete construction; high ceilings; 17 docks; 1 ramp; 18 truck positions in staging area; heavy electric; FEC railway. For other warehouses in Miami, please contact Edward Redlich of ComReal Miami commercial real estate at 786-433-2379 or and visit

Watch this Miami warehouse video:

Tuesday, December 2, 2008

ComReal Miami Industrial Division 3rd Quarter of 2008 Report

Miami’s Industrial Market has seen lease rates decrease 10-20% this quarter and vacancy is now up to about 8%, and climbing. Lease rates may fall another 10-20% between now and the First Quarter of 2009. This is good news for those users seeking to lease (and purchase) new Miami warehouse space. Landlords of warehouses in Miami are offering more rental concessions such as free rent and tenant improvement allowances. Most speculative construction is on hold. Green buildings will be less appealing due to higher upfront costs. Financing is still an obvious problem, especially if you are an investor. Expect to see more transactions either owner financed or paid all cash for Miami warehouses. Although overall transaction volume is down, there are still a few significant transactions occurring. For example ComReal Miami represented Innovative Stone in its lease acquisition of 103,000 sq. ft. warehouse in Hialeah.

For the entire ComReal Miami Commercial Real Estate 3rd Quarter Industrial Division Report please visit

Sunday, November 2, 2008

SIOR Conference in Minneapolis Minnesota

So where have I been? Yet another commercial real estate conference. This time was in in Minneapolis, Minnesota for the SIOR World Conference. Why have I attended three commercial real estate conference in three weeks? For you; the customer. The more education and knowledge I can obtain the better for you. Especially in these uncertain times. There is good news to share.

A third expert on the economy has suggested that things are not going to be so bad, for so long after all. Peter Ricchiuti, a Finance Professor from Tulane University, states "IF the majority of people were right, then the majority of people would be rich... and they are not!" Do not follow the herd. Be contrarian. Find the opportunities now. It is an election year so the political candidates and the media make it out to be worse than it really is. The United States has seen ten recessions since World War II. This time, corporate profits have been way up recently. We may see a cash recovery in the first or second quarter of 2009. Exports are growing. From 15% to 20% per year.

Other notable speakers included Keith Ferrazi, author of Never Eat Alone, and Ray Kurzweil, America's revolutionary inventor.

A session of real estate directors agreed that they seek "alliance partnerships" with commercial real estate brokers that understand their strategic goals not just a per transaction broker. They like to work with architects before doing a Site Selection and appreciate when brokers schedule a "Site Tour" with them every year to check up on the status condition of the warehouse/office space. An interview with their local, operations manager also helps. Build these relationships now and along the way. Share information with them. Do not just call them up and say "So, I see your lease is getting ready to expire." Be sure to LISTEN!

Regarding logistics, there is now the concept of "just in case" instead of "just in time" logistics. There is resistance to brokers that claim to be Miami logistic experts. You really better know it, if you are. Although there is a trend of higher taxation and more government control, there is still some hesitation towards Foreign Trade Zones. The real story is that most businesses do not want to allow customs and/or the IRS inside their warehouse on a daily basis. They'd rather pay the taxes then risk being shut down by a government bureaucrat. FTZ's may just not be worth the red tape. As fuel prices are high, rail becomes more favorable. ComReal has a 127,000 sq. ft. Miami warehouse on FEC rail near Miami airport. Ideal for Miami distribution.

Feel free to write me back if you have any comments or questions. Thank you.

Edward Redlich, SIOR

Monday, October 27, 2008

ComReal Miami 3rd Quarter Industrial Market Report

ComReal Miami has released it's 3rd Quarter Industrial Market Report for Miami-Dade County. As expected, Vacancy Rates have risen from 6.7% to 7.5%. However, the average Lease Rate slightly increased to $8.53 psf Gross. The explanation for this is that Landlords are still holding on to high Miami warehouse lease rates as long as possible. But expect landlords of Miami warehosue spaces to make more concessions as the economy softens and there are fewer tenants seeking to lease space. ComReal also expects a slow retail, holiday season for the 4th Quarter of 2008. This will eventually effect the Miami warehouse occupancy rate as tenants reduce their inventories.

One of the largest for the 3rd Quarter was ComReal's lease of a Hialeah warehouse space of 103,000 sq. ft.

To download the entire report, please visit

Edward Redlich, SIOR, CCIM
Vice-President Industrial Sales and Leasing
ComReal Miami, Inc.

Thursday, October 23, 2008

Press Release… “CCIM’s 2008 Commercial Real Estate Convention”

I am pleased to announce “The CCIM Success Series” held in Chicago last week was indeed a true success! After 14 years in the commercial real estate (CRE) business, this was one of the most informative and educational conventions that I have ever attended. Some of the sessions included topics on the capital markets, national economy, international investors, corporate America, technological advances and much, much more. Over 1,000 professionals from all over the world participated. In addition, 382 professionals passed the comprehensive exam and have now obtained their CCIM designation. Congratulations to all of them! Special wishes to Miami’s very own Matthew Rotolante and Anthony Galluzo who obtained their CCIM pin.

The event captured the close attention of those concerned with both an uncertain economy and the future of the real estate industry. According to Lawrence Yun Ph. D., Chief Economist with the National Association of Realtors, the market is trending towards an official recession in the next two consecutive quarters. So, what else can be expected? Additional layoffs by corporate America; a slow holiday season for retailers; financial institutions and REIT’s will continue to hold and do nothing. However, there are some positive statistics and trends such as increases in exports, rent growth, select industries, and some local economies. If you want the best possible outcome and/or find available opportunities out there, then be sure to choose a CCIM professional to consult with and represent your best interests.

For consumers, choosing a CCIM designee, is more important now than ever. Only an experienced, trained expert who specializes in a CRE product such as office, industrial, retail and/or multi-family properties will truly be able to assist the consumer to advocate their needs. Residential firms and agents are, all too often, not qualified to assist the consumer with more sophisticated processes such as CRE property selection, marketing, negotiations, due diligence, financing and more. Yet, many consumers fail by choosing to work with an agent just because they purchased a home from them or they are mesmerized by a discount fee. These mistakes can lead to long delays, expensive errors, unqualified parties, a frustrating deal process and even harmful lawsuits. There’s never a better time to seek professional assistance when the times are rough.

We are pleased to announce our 3rd Annual Outlook Conference on January 21st. Nine commercial real estate specialists will deliver presentations and forecast for Miami’s CRE market and economy in 2009. We expect a capacity crowd of 300 professionals to attend. We hope to see you there!

I encourage everyone to always consider a CCIM designee when handling their CRE needs. In Miami, you can visit us at to learn more. Also, please feel free to contact me anytime for further discussion.

Thank you very much.

Edward J. Redlich, CCIM, SIOR
President of CCIM’s Miami-Dade/Monroe District

Saturday, October 4, 2008

Homestead Economic Roundtable in Miami Commercial Real Estate

The Vision Council, ComReal Miami, and Homestead Hospital hosted a Southeast Homestead Developers Forum at the Homestead Hospital Board Room Friday, 26 September. The purpose of the forum was to draw together investors and stakeholders in that area to discuss marketing, access to credit, and timing for the explosive growth taking place in that area of the county.

Of the four million feet of commercial space becoming available in 2009-2010 in the Homestead area, nearly 50% of that space will be in the Park of Commerce and Foreign Trade Zone area, located east of the Turnpike and near Homestead Motorsports Complex. Specifically, Park South and East Gate will bring a combined total of approximately 1.6 million feet of commercial space into the marketplace beginning early next year. This phased-growth complents the upcoming expansion of NWD Exports in the Foreign Trade Zone (FTZ), which is planning to have 22,000 feet available for lease within the FTZ in 2009.

The forum also included a review of the local Economic Indicators provided by Vision Council President, Dennis Daley. This presentation provided area stakeholders with specific facts about economic sector growth and outlook for the area.

Of particular note, manufacturing is very under-represented in the Homestead area, comprising only 2% of area business and employment. With recent increases in median income for the Homestead area, and steady gains in MDC enrollment, it is apparent that Homestead possesses a more skilled workforce than in past history. With the combination of skilled workforce, ample affordable commercial space, and FTZ opportunities - attracting additional manufacturing to the area may be a solid possibility in the upcoming years.

At conclusion of the discussion portion of the forum, stakeholders clearly indicated that a dedicated marketing initiative for this area was needed, as well as continued access to construction capital.
With this support and the efforts taking place at present, this area can clearly be a key economic driver for not only the Homestead area, but south Dade County as well.
For more info, please visit

Edward Redlich
ComReal Miami

Friday, September 26, 2008


Stephen Smith, SIOR and I had the opportunity to tour the Port of Jacksonville today during the SIOR Fall Conference. JAXPORT is located in the southeastern United States at the crossroads of the nation's highway and rail transportation network. This makes it ideal for Florida logisitcs and for Florida warehouse space and Florida distribution. JAXPORT consists of three cargo terminals that comprise over 1,100 acres all within Foreign Trade Zone #64. In 2007, JAXPORT had over 8.3M tons (or over 710,000 TEU's). Top import countries are from Canada, Virgin Islands, Colombia, Bahamas and Venezuela. Top export countries are Puerto Rico, Brazil, Russia, Venezuela and Saudia Arabia. I thought it was interesting that the day we were there an entire cargo ship was being loaded with frozen chicken headed to Russia.

You may enjoy this video called "Shift Happens" on globalization and the information age:

The SIOR annual convention will be held next month in Minneapolis, MN.

For more information on Florida warehouse spaces and Florida SIOR, please visit

You can find a Jacksonville warehouse broker here:

Thank you.

Edward Redlich, SIOR, CCIM

Monday, September 15, 2008

CCIM Miami commercial real estate Meeting October 3rd

The Florida CCIM Miami Commercial Real Estate District will hold a meeting on Friday, October 3rd at the Coral Gables Woman’s Club for all members and non-members. This is a great opportunity to network and showcase your company’s product and/or service to over 50 Miami commercial real estate professionals. Our guest speaker will be Ken Rosen who will be speaking on his new book and 30 years in commercial real estate in Miami.

For more information on CCIM Miami, please visit

Thank you very much.

Edward J. Redlich, SIOR, CCIM | Vice President
ComReal Miami Commercial Real Estate Services

Sunday, August 24, 2008

Innovative Stone Locates 103,000 Sq. Ft. Hialeah Warehouse

ComReal Miami’s Industrial Team comprised of Edward Redlich and Christopher Spear, successfully located a Hialeah warehouse for Innovative Stone. The space consists of 103,000 sq. ft. and is part of the old Winn-Dixie warehouse distribution center. The property is located at 725 S.E. 9th Court in the Hialeah warehouse area.

Innovative Stone warehouse distribution centers across the United States and can now add South Florida to their list thanks to the efforts from Ed Redlich and Chris Spear of ComReal Miami.

Innovative Stone contacted ComReal in June 2008 to seek their assistance in locating a Miami warehouse space in South Florida. ComReal prepared an extensive site selection which included a variety of warehouses from Miami to Pompano Beach. After viewing dozens of Miami-Dade and Broward County warehouse spaces, Innovative Stone chose the Hialeah property because of its unique layout, which provided the exact logistical layout which Innovative Stone was seeking.

Innovative Stone is one of the leading global suppliers of natural stone serving the commercial and residential sectors with operations in New York, Brazil, China, India and Italy. Innovative Stone’s impressive client roster includes major business headquarters like the new Time Warner Center and Bloomberg building in New York; prominent retailers such as Bloomingdale’s, Macy’s, Neiman Marcus, Nordstrom and Tiffany’s; and hotels such as Harrah’s Casinos.

Innovative Stone dominates the natural stone industry because of its focus on delivering innovation in both materials and technology, the breadth of its client portfolio, its reputation for exacting detail and its unparalleled performance in handling the most challenging and high-profile assignments.

For more information on ComReal Miami commercial real estate, please visit For additional details on this transaction, please contact:

Edward Redlich, SIOR, CCIM at 786-433-2379,

Christopher Spear, Associate 786-433-2099,

Wednesday, August 20, 2008

Edward Redlich Obtains Designation by The Society of Industrial and Office Realtors (SIOR)

MIAMI, FL – August 19, 2008 – Edward J. Redlich, SIOR, CCIM, Vice-President of ComReal Miami, is now one of only twenty commercial real estate professionals here in Miami to have obtained the coveted SIOR designation. At the age of only 35, he is the youngest SIOR in Miami and one of the few professionals worldwide that now possess the SIOR-CCIM dual designation. These are the highest designations that exist in the commercial real estate industry.

His fellow ComReal associate, Stephen H. Smith, SIOR, is a long time member of the prestigious group and one of its past Florida Chapter Presidents. “These affiliations provide us with the capability to serve our clients' commercial real estate needs on both national and international levels,” states Redlich.

Ed Redlich has been with ComReal for nearly 15 years and is now its Vice-President of the Industrial Division. His corporate clients include Goodyear Tire, Burger King, Enterprise Rent-A-Car, and General Electric, to name a few. Current industrial projects include the 180,000 sq. ft. Airport International Center and the 196,000 sq. ft. Eastgate Business Park. Eastgate is a new warehouse development project in The Homestead Park of Commerce in which Redlich is both an equity partner and co-developer with Smith. Redlich recently made the Miami commercial real estate news with his representation of Costex Corporation in its $21,000,000 purchase of a 17-acres site on the Palmetto Expressway. Costex will construct its new 300,000 sq. ft. Miami-headquarters and distribution facility on the former Farm Stores HQ site.

For more information on ComReal Miami commercial real estate, please visit For additional details on this transaction, please call Edward Redlich, SIOR, CCIM at 786-433-2379,

The Society of Industrial and Office Realtors is the leading professional organization in the world for office and industrial real estate specialists. With more than 3,200 members in 562 cities in 22 countries, SIOR represents today’s most knowledgeable, experienced, and successful commercial real estate brokers. Last year SIOR members reported an average per person dollar volume of more than US $33.5 million worth of property leased or sold. Cumulative dollar volume for all SIOR members was $85.6 billion of property leased or sold. As a group, SIOR Members closed 82,747 transactions in 2006 involving more than 239 million square feet of industrial and office space.

SIOR has certified more than 2,500 of its members with the prestigious SIOR designation, a professional symbol of the highest level of knowledge, production, and ethics in the real estate industry. Real estate professionals who have earned the SIOR designation are recognized by corporate real estate executives, commercial real estate brokers, agents, lenders, and other real estate professionals as the most capable and experienced brokerage practitioners in any market.

Since 1979, The ComReal Companies have been a leader in commercial real estate, specializing in asset management, leasing, property management, investment services, and tenant/ buyer representation. ComReal’s team of highly trained and distinguished professionals has earned the company its reputation for serving clients with a comprehensive range of services. The ComReal Companies and its affiliates are also well recognized in the equity side of the commercial real estate industry. Through CR Partners, principals of ComReal are very active in the acquisition, ownership and redevelopment of strategic real estate properties throughout South Florida. ComReal combines its commercial expertise with state of the art systems to find the very best business and economic opportunities for its clients. ComReal’s Miami office is located at 8725 NW 18th Terrace, Suite 105, Doral, FL 33172. ComReal’s Florida operations include offices in Miami, Ft. Lauderdale and Jacksonville. For more information on ComReal, please call 305-591-3044 or visit

Saturday, July 5, 2008

Doral Freight Forwarder purchases property in Doral

Edward J. Redlich, SIOR, CCIM of ComReal Miami has announced the sale and purchase transaction of a 17,000 sq. ft. warehouse. The Class A, free-standing warehouse is located at 10850 NW 30th Street. in Doral, within the Beacon Industrial Park.

The sales price was $2,635,000 or $155 psf. The Seller was Gateway Warehouse & Consolidators; the Buyer was a Doral freight forwarder and packaging business and is originally from Venezuela.

“There are over two dozen warehouse buildings of this size on the market right now in the Miami Airport West submarket,” states Ed Redlich. “Although the prices per square foot of such warehouses have decreased from the highest sale of about $175 psf last year, values are still relatively high. I think a lot has to do with the fact that Miami is at the center of this hemisphere’s economy.”

The Espinosa family owns & operates Gateway Warehouses & Consolidators, which imports products from overseas and distributes them both domestically and to the South & Central Americas and Caribbean. This is the second time, in less than a year, that Redlich has represented them in a major transaction. In October 2006, Redlich represented The Espinosa’s in the purchase of their 40,000 sq. ft. Class A warehouse located nearby at 11125 NW 29 Street, also located in BIP, for $4,250,000.

Fernando Espinosa, Jr. is delighted to work with ComReal and Redlich for their “relentless pursuit and tireless effort”. Espinosa also added, “We required a specific building in a specific area, and Redlich found it when all others could not. Our company is extremely grateful and will always consider ComReal part of our team.”

For more information on this transaction, call Edward Redlich, SIOR, CCIM at (786) 433-2379, or visit

Sunday, June 1, 2008

The ComReal Companies Anniversary May 31st "Red Day"

On May 31st, 1985, Stephen H. Smith & Company became The ComReal Companies. Ever since, ComReal associates have celebrated the anniversary day by wearing all red attire; hence the name: "Red Day."

"If you count the years when Stephen H. Smith & Company was founded on October 29th, 1979, that puts The ComReal Companies at 29 years old" proudly states Stephen H. Smith, President. "After nearly three decades of operation, we have really proven that ComReal is Commercial Real Estate."

For more information on The ComReal Companies, please visit

Monday, May 26, 2008

Airport International Center Warehouses in Miami

Airport International Center (AIC) is a 180,000 sq. ft. warehouse complex that ComReal leases and manages. It is located at 6100 NW 74 Avenue in Miami right on the Palmetto Expressway. Please visit

I thought this blog on AIC might be helpful to someone who may be interested in leasing warehouse space in Miami. ComReal represents the landlord.

We are currently working with a prospect in the cooling systems & generator business. They are interested Unit #6134. The unit is 4,500 sq. ft. There is only one restroom and has no office built out. Our lowest bid estimate for +/-400 sq. ft. of office space built out came in well over $20,000 plus the A&E fees were almost $3,000. Here is the construction & office build-out timeline:


Recently, we have executed leases with the following businesses: toy manufacturer from Spain and Hong Kong; automobile exporter to Peru; pet supply company from Central America; and a couple of contractors from out-of-state, both have contracts for highway construction & service.

Pet’s Area Codes is one of our newest tenants. You can see their website at

Please feel free to post your comments and questions for anything about Miami commercial real estate. You may also visit my website at

Wednesday, January 23, 2008

ComReal goes to the Bahamas!

On January 11, 2008, ComReal went on a company retreat onboard Royal Caribbean's Majesty of the Seas.

The retreat was a great success, from the social to the business aspects.
On Saturday and Sunday, ComReal Miami and ComReal Ft.Lauderdale joined forces and participated in meetings and workshops that resulted in great ideas for the new year.
This was also an opportunity for every ComReal member to get to know each other better, and create new teams and divisions for the company.

As a result of this experience, ComReal Miami and ComReal Ft. Lauderdale are now working on many ways to expand their client base and share each other's specialties. Also, we now have a few Industrial Teams within the company such as the Retail Division, the Industrial Condo Team (with its newest website creation at, and coming soon a new Office Division.

Everyone came back with fresh new ideas and ready to get started in 2008! We hope to make this a yearly event.