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Miami Today: Back to Basics

"Now is time to go ‘back to basics,’ real estate groups say"
BY RISA POLANSKY
Miami Today News

With the economy in a tailspin, and business slow as a result, local commercial real estate organizations are going “back to basics.” In planning for her 2009 term as president of Commercial Real Estate Women – Miami, Danet Linares had a theme in mind: “Close the Deal,” which she called a “natural” follow to past President Gayle Bainbridge’s “Make the Ask.” But as the economy crashed, financial markets faltered and business ground to a near halt, “I started thinking, really, how do you close the deal?” said Ms. Linares, senior vice president, director of real estate services for Foram Group.

“You have to go back to basics.” She changed the theme and is focused now on promoting a return to fundamental business practices.

Now is the time to cultivate relationships and look to experts for analysis and pointers, Ms. Linares said.

She plans to put together topical programs in varied real estate sectors to educate members and potentially draw in professionals in different fields.

Speakers slated for this year include real estate economist Hugh Kelly, University of Miami President Donna Shalala and Miami-Dade Aviation Director José Abreu, among others, she said.

The goal is to “provide an educational opportunity for our members, where you have a great venue for networking.” Staying plugged in can help position professionals for growth, Ms. Linares said.

“When you become informed, you’re better able to help your client,” she said, and “people hire you because of what you know.” The Miami-Dade/Monroe chapter of commercial real estate professionals holding the Certified Commercial Investment Member (CCIM) designation is also encouraging members to get “back to the basics” – the theme of this year’s outlook conference.

“We have to go back and understand the fundamentals and what the foundation of the business is,” said Chapter President Edward Redlich, vice president of ComReal Miami commercial real estate services.

During recent boom years, many jumped into the real estate game without proper knowledge, experience and credentials, he said.

As the bottom falls out, “everybody, including our customers and lenders, they want to see real deals, real opportunities, they want to deal with real professionals… now people are going to be very careful of who they do business with.” This month’s “Back to the Basics” outlook conference is to cover trends, opportunities and threats and feature experts in retail, office, industrial, capital markets, distressed real estate and other fields and topics.

After “one of the most unpredictable years ever,” Mr. Redlich said, “we’re trying to figure out what’s going to be anticipated for 2009.” From there, it’s about “building relationships, understanding the market, understanding the properties,” he said.

The local CCIM chapter is open to all, even those without the designation, and hosts quar terly luncheons featuring speakers, as well as networking functions.

Alice Lucia, past president of the South Florida Chapter of the National Association of Industrial and Office Properties and senior vice president of Jones Lang LaSalle, said in an e-mail that “networking = deal making.” The organization plans this year to host more member-only networking socials than in the past, she said.

General meetings featuring panel discussions are to be open to non-members, and the organization has upped its non-member fees for the events “in an effort to reestablish how important it is to be a member,” Ms. Lucia said.

For the first time, the association is offering members a payment plan for dues – “a true proactive approach to the current economy for our membership,” she said.

Becoming a member of professional organizations in times like these is critical, said Ms.

Linares of Commercial Real Estate Women – Miami.

“It’s not just going to luncheons,” she said. The groups allow opportunity to become involved in various committees and spearhead programs and initiatives.

When others in the field see you in action, it could spark deals or partnerships – or at least build professional references for the future, she said.

“By people seeing you work in that committee, that translates to how you are in business.”

Miami Today article: Real estate professionals to peer into 2009 crystal balls

Real estate professionals to peer into 2009 crystal balls

BY YUDISLAIDY FERNANDEZ
Miami Today

A Miami-Dade-Monroe Florida Chapter of commercial real estate experts hope to provide a clear picture of the industry’s outlook for 2009 at its annual conference this month.

Certified Commercial Investment Member, known as CCIM, is a group of commercial Realtors hosting the 2009 Commercial Real Estate Outlook Conference on Jan. 21 with more than 300 commercial real estate agents expected to attend.

CCIM is also a designation based on education and performance only possessed by about 16,000 Realtors worldwide, said Chapter President Edward Redlich, also vice president of commercial real estate services firm ComReal Miami Inc.

The conference, hosted in Miami for the third straight year, is to be held at Coral Gables’ Riviera Country Club. The cost for members is $39 and nonmembers $69. The registration deadline is Jan. 19.

Mr. Redlich said the CCIM Florida Chapter offers membership to non-CCIM designees who want to join for networking and education opportunities for an annual cost of $200.

This year’s conference, dubbed “Back to the Basics,” has a nine-speaker lineup of commercial real estate heavyweights unveiling their market forecasts for 2009.

Some questions in the minds of practicing commercial real estate agents, Mr. Redlich said, are how the credit markets will behave, what will happen to interest rates and “what surprises and trends can be expected.” The following speakers will offer their insights into the commercial real estate market:

Keynote speaker Stanley Geberer, who leads the real estate research team for the firm Fishkind Associates Inc., hopes to answer some of those questions in his economic prediction for 2009.

Manuel de Zarraga, executive managing director for Holiday Fenoglio Fowler’s Miami office, is giving a presentation on the opportunities available in the credit and lending markets.

W. Allen Morris is presenting an outlook on business for developers in 2009. He is CEO of The Allen Morris Co. and is currently developing Class-A office project Ponce de Leon Towers in Coral Gables.

Gary Ralston, president of Florida Retail Development, is reporting on retail trends in the horizon.

Michael Cannon, executive director of Integra Realty Resources, is discussing the badlyhit residential market and how it will impact the commercial market’s performance this year.

Tony Puente, senior vice president of Fairchild Partners Inc., is giving a preview of what the office market looks like for Miami-Dade and Monroe counties in the months to come.

Tom Dixon, president of Dixon Commercial Real Estate, is sharing with fellow commercial Realtors what to expect in the way of real estate assessments for 2009.

Mr. Dixon said that there are likely to be “lower values for commercial properties because the valuations of buyers and sellers, and in turn the property appraisal, will be based more on the income the properties will produce rather than the speculation of ability to resell it at a higher price in the future.” He is also predicting that the decline in sales activity due to stringent financial requirements and the drop in rental rates that has resulted in lower values should – if the millage rate doesn’t go up – reduce taxes for 2009.

The conference also includes presentations on local retail, office and residential markets and how they will affect commercial market activity.

Mr. Redlich said he is confident the conference, as in pre vious years, will sell out.

He said some Realtors attend not just to get an outlook on commercial trends for the year but to network and build new relationships with other profes sionals.

“These are people who are very involved in the profession and are all about educating themselves, so it’s a great place to meet oth ers in the industry,” he said.

Now more than ever, he said, commercial realtors need to have a strong team of real estate professionals, lenders, attor neys, appraisers and accoun tants assembled.

“During these times you have to understand the profession and serve your clients.” Details: www.miamiccim.com

CCIM Miami commercial real estate Outlook Conference on January 21st, 2009

Dear Professional,

As President of CCIM Miami, I would like to personally invite you to attend the Miami Commercial Real Estate event of the year: The CCIM Miami Outlook Conference!!!

Please join 300 other Miami commercial real estate professionals on January 21st, 2009 at The Riviera Country Club in Coral Gables. This is our third annual CCIM Outlook Conference and you will learn what to expect in 2009 from nine professionals speaking on their area of expertise.

For more information on Miami CCIM, please visit www.ccimmiami.com. Opportunities to Sponsor are still available. For the Outlook Conference, please view the brochure below and visit this link to sign up:

https://guest.cvent.com/EVENTS/Register/IdentityConfirmation.aspx?e=3406a6a9-bc7e-472c-b66c-2d3894868c72

We look forward to seeing you there!

Thank you very much.

Ed Redlich, CCIM, SIOR
Miami CCIM President
www.edwardredlich.com/About.htm


There will likely be some discussion on Miami Dade County property taxes, Miami appraiser Pete Garcia and Miami property appraiser. Pedro Garcia Miami-Dade County property appraiser will service his first term in 2009. Miami bankruptcy and Miami bankruptcies will also be a popular topic. Miami business bankruptcies have increased in 2008 and expect more business bankruptcies in Miami.

You may also visit http://miamiwarehouses.wordpress.com

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 http://www.edwardredlich.com/News&Press.htm

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

CCIM Miami commercial real estate Meeting October 3rd

The Florida CCIM Miami Commercial Real Estate District will hold a meeting on Friday, October 3^rd 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 www.ccimmiami.com.

Thank you very much.

Edward J. Redlich, SIOR, CCIM | Vice President
ComReal Miami Commercial Real Estate Services
www.edwardredlich.com
786-433-2379
eredlich@comreal.com