ComReal Miami Blog: April 2009

Wednesday, April 29, 2009

ComReal Miami Industrial Division: 1st Quarter 2009 Report

As expected, Vacancy Rates increased to 8.8% and Lease Rates decreased to $8.30 psf. However, the differences were slight. For being in a national recession, much of Miami’s industrial real estate market is doing fairly well compared to other industries. Expect to see good leasing and buying opportunities throughout 2009.

The Miami Airport West submarket continues to be in higher demand overall due to its access and proximity to the airport. Class A facilities in this submarket will retain most of their value even in a down market. Although property values have decreased overall, we are confident that high quality assets in good locations are better positioned to drive performance as the market recovers.

Overall deal volume is certainly down. The top ten lease deals for the quarter averaged only about 9,350 sq. ft. in the entire County! In this period, ComReal successfully negotiated three of the largest leases including: Lemonade Xpress of 16,455 sq. ft.; Blue Trading of 10,667 sq. ft. and Pet’s Area Code of 13,500 sq. ft.

ComReal has been appointed the exclusive leasing agent for Beacon at 97th Avenue in Doral. This is the only Class A business park in Miami that is fully fenced, secured with video surveillance and security guard. Current tenants include Ace Hardware, Bell Microcomputers, US Post Office and Clover Logistics. Of the 400,000 sq. ft. total space, there are two spaces available of 44,000 and 103,000 sq. ft. (fully A/C’d). For more info, please visit www.Beacon97.com.

ComReal was proud to participate in the following events:

¨ Port of Miami Tour with Bill Johnson, Director

¨ Florida Customs Brokers & Forwarders: Miami Cargo Theft

¨ CCIM Miami with Pedro Garcia Miami-Dade County Appraiser

¨ SIOR Tour of Orlando Commercial Real Estate Market

¨ CCIM Miami 2009 Annual Outlook Conference

¨ CIASF Industrial Market Report 2009 Annual Meeting

Please visit www.edwardredlich.com for the complete CRE market reports, news events and more. Feel free to contact us anytime for a confidential consultations. Thank you.

Tuesday, April 28, 2009

Lemonade Xpress Leases 16,455 SF of Warehouse Space

Miami, FL – April 28th, 2009 - South Florida, FL- ComReal Miami’s Industrial Team, comprised of Edward Redlich and Chris Spear successfully located a warehouse facility for the Venezuelan entrepreneurs of Limonada Xpress. The space consists of 16,455 sf of warehouse space and is located within 300 yards of Pompano Commerce Park on 15th Avenue and is within the CRA (Community Redevelopment Agency). The property is located at 2025 NW 15th Avenue, Pompano Beach, Florida 33069.

Limonada Xpress is a bottling beverage company that has mounted their first U.S. operation in South Florida. The operation is spearheaded by two Venezuela brothers who felt that the market was ripe for bottled beverages in South Florida and decided that this was the right time to invest. Despite the downturn in the economy Limonada Xpress is confident that their patented formula will be a hit in this market. Thanks to the efforts of Ed Redlich and Chris Spear, they will be open for business in South Florida

Limonada Xpress contacted ComReal in March 2009 to seek their assistance in locating space in Dade and Broward County. ComReal prepared a site selection which included a variety of warehouses from Medley to Pompano Beach. After viewing several properties, Limonada Xpress chose this facility because of the amount of space that ComReal was able to obtain for them at a great rate.

For more info on warehouses in Miami's industrial real estate market, please contact Ed Redlich at 786-433-2379 or eredlich@comreal.com

Sunday, April 26, 2009

CCIM hosts Miami-Dade County's Property Appraiser

On April 17th, 2009, CCIM Miami hosted Pedro Garcia, Miami-Dade County's Property Appraiser at Anacapri Restaurant. The event was limited to the first 50 professionals to RSVP. Mr. Garcia discussed the county's property assessments and taxes. Also, Mr. Rick Orr of www.totalcommercial.com was present to give a presentation on this website of available commercial real estate properties.

"CCIM will conduct similar luncheons every three months." states Ed Redlich, President of Miami CCIM. "We look forward to having more professionals attend."

For more info on CCIM Miami, please visit www.miamiccim.com.

Wednesday, April 22, 2009

Miami Earth Day April 22nd, 2009

ComReal Miami commercial real estate is going green. Today is April 22nd, 2009 and we remind all of ourselves and our customers to recognize Earth Day in Miami. In recognition of Miami Earth Day, let's all remember today's meaning and reduce costs by doing the following around the office:

* Keep lights turned off when not in use
* When printing: print in black instead of color; print on two sides; do not print extra pages if not necessary; recycle paper in stack (face up).
* Do not throw away paper clips, clamps, folders and binder inserts, comps, tab dividers, etc.
* Turn off your desk monitors, speakers, fans, etc. when not in use.
* The last person to leave should turn the A/C up to like 75 degrees.

Let us know if you have any other good tips.

Thank you!