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 www.edwardredlich.com. For additional details on this transaction, please call Edward Redlich, SIOR, CCIM at 786-433-2379, eredlich@comreal.com.

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 www.comreal.com.

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, eredlich@comreal.com or visit www.edwardredlich.com

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 www.comreal.com

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 www.airportinternationalcenter.com.

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:

2 WEEKS FOR DRAWINGS
2 WEEKS FOR PERMITTING
5 WEEKS FOR CONSTRUCTION
2 WEEKS FOR DELAYS
11 WEEKS TOTAL

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 www.petsmarketcr.com

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

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 http://www.ownawarehouse.com), 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.