Miami Warehouse Deals in 2008

ComReal Miami's Industrial Division led by Ed Redlich, SIOR, CCIM was ranked by CoStar for having successfully completed two of the largest deals in 2008. Ranked 3rd for the $21,000,000 purchase acquisition of 17 acres by Costex Corporation. A 300,000 sq. ft. Class A Miami warehouse distribution facility will be constructed in 2009.

ComReal's Ed Redlich and Chris Spear were ranked 4th for the largest Miami warehouse lease deal. Innovative Stone based in New York expanded into the Miami commercial real estate market by leasing Winn-Dixie's former 103,000 sq. ft. Hialeah warehouse space.

Below are the Top 10 largest Miami warehouse lease deals in 2008 according to CoStar. (For the entire report, CLICK HERE or go to www.edwardredlich.com/news&press.htm).

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

Rank - Company Name - Size in sq. ft.
1. Pricesmart. 126,767
2. Countywide of Miami, Inc. 121,979
3. B America Corporation. 118,897
4. Innovative Stone. 103,000
5. Schenker, Inc. 100,800
6. Deal Tire and Wheel. 85,300
7. Ingram Micro Inc. 80,000
8. Miami International Freight. 75,000
9. International Cargo Terminals. 65,000
10. Shipco. 65,000

CCIM Miami Intro Course

Learn the fundamentals of commercial investment real estate with quality training! Please enroll today in CI Intro Course. For more info on CCIM Miami, please visit www.miamiccim.com or contact CCIM Miami President, Ed Redlich at 786-433-2379 or eredlich@comreal.com

After this course, you will be able to:

• Solve investment problems using a financial calculator.
• Understand basic real estate investment analysis tools.
• Perform basic mortgage calculations using compounding and discounting techniques.
• Know how to compare similar properties, project vacancy rates, and estimate absorption figures.
• Identify other ways to make a profit in commercial real estate besides brokerage

CI Intro Course
April 16-17, 2009
Nova Southeastern University
8585 SW 124th Avenue
Miami, FL 33183

The CCIM curriculum is noted for its hands-on approach to real estate concepts. Case studies are used to illustrate concepts throughout the course.
If you would like more information on getting started in the CCIM program, click here.

For more information or to register for this course:
• Call (800) 621-7027
• Register online at Course Registration
Or http://www.ccim.com/education/ccim_education/controller?action=viewCourseFlyer&mid=INT9170

Miami Freight & Cargo: Meeting on Theft

March 18th, 2009

As the economy deteriorates and rumors of a recession are upon us, South Florida sees an increase of crime and theft related incidents. Unfortunately, there is a direct negative correlation between the economy and crime, therefore when the economy does poorly, crime and burglaries surge. This is exactly the topic that was addressed at the emergency Florida Cargo Brokers & Forwarders Association (FCBF) meeting on March 18, 2009 as many of the top Freight Forwarders and Brokers of South Florida united to discuss these issues and possible ways to prevent the damage.

http://www.fcbf.com/

ComReal's Ed Redlich were present at the event to share with the group some thoughts and recent episodes that were noted in the area to make members aware of the incidents in their community. “It’s not just cargo and inventory that is a target” states ComReal’s Ed Redlich. “Thieves are also targeting empty warehouses to steal the copper wiring, appliances, hardware, etc. I know of four vacant Miami warehouses all over 50,000 sq. ft. that have recently been vandalized. With over 25,000,000 sq. ft. vacant in Miami there is a lot for criminals to target.”
The Mahoney team, Brian and Donald were there (two expert consultants in warehouse security) as panelists, to speak to the members about several ways to prevent or safeguard your facility from these attacks. They were kind enough to share different methods that thieves are using to breaking and entering.

• Burglars will trigger alarms falsely to test the system and gauge response time
• They might use sledge hammers, crowbars, or any object to gain access to a space.
• They have several people on the look out to tip them if the cops come
• They might be a third party using the warehouse who knows the type of inventory that is in the warehouse and the appropriate time to break-in
• There are several things that thiefs could do easily alter the locks and bolts on the container doors to break the safety seals and gain access to merchandise

Prevention Methods for Companies:

• If you have extra inventory or loads consider hiring extra security guards
• Try not to leave loaded containers outside over the weekend
• Do not leave empty containers overnight as they can be used as a protective shield to block the view
• Make sure to change your alarm code every couple of months
• Only give access to codes to senior management and people in the organization that are trustworthy
• Try not to give access to the space to third parties who might leak information to thieves
• Train your personnel to inspect containers before accepting the cargo and check the seals on that containers
• Try to follow CT-PAT procedures if possible

If you operate your own Miami warehouse and are concerned about its security, please consider Beacon at 97th Avenue Business Park in Doral. This park consists of a total of 400,000 sq. ft. of Class A Doral warehouse space. This high-security facility is guarded 24/7/365, completely fenced, gated, alarmed and video surveillanced. For details, please visit http://www.beacon97.com/.

Everyone present was more than willing to share information and exchange stories. Drastic times call for drastic measures and this is why companies and owners should be extra vigilant and strict when it comes to safety and prevention of theft. ComReal is honored to be a member of the FCBF and happy to be involved in an organization that has accomplished 50 years of excellence in Florida serving our businesses and communities. For more information visit http://www.fcbf.com/ and/or http://www.comrealmiami.com/.

Happy St. Patrick's day from ComReal Miami !!!

Port of Miami Tour with ComReal and CIASF

March 13, 2009 - ComReal Miami commercial real estate sponsored the tour of the Port of Miami. The Commercial & Industrial Association of South Florida (CIASF) setup the event. Over 50 professionals showed up to listen to Bill Johnson, Director of Port of Miami, speak about various topics such as the Miami Tunnel, Miami cargo and freight, etc. The Port Tunnel is needed by 2018 since the deepening of the cargo harbor to 50' will be completed in 2014. This will be one of three seaports on the east coast of the United States that will be 50' deep. There are fourteen deepwater ports overall.

The Port's highest priority is safety and security. Miami and Jacksonville are the most secure ports in Florida. Both cities are fully compliant. A new cargo gate security facility has been completed. Security is important for the Port and Miami warehouses. Beacon 97, a Doral warehouse park, is 400,000 sq. ft. of high-security and full-time guard. Visit http://www.beacon97.com/.


Mr. Johnson is credited with lowering operating expenses and secured three contracts recently which will guaranteed $60M in revenue in 2008. Relationships have also been secured with Maersk and Seaboard Marine in Miami. China is Miami's leading trading partner. Followed by (in order): Honduras, Germany, Dominican Republic, Guatemala, Hong Kong, Jamaica, Panama, Italy and Colombia. Miami international real estate is at the center of global trade. Miami warehouses on rail will be be of greater importance such as this 127,000 sq. ft. building on FEC rail: http://www.miamiairportwarehouse.com/.


For more info, please contact ComReal Miami's industrial real estate division at 786-433-2379 or email: eredlich@comreal.com

ComReal Miami is also a proud Sponsor of the tour of the Miami Free Trade Zone in Doral on July 11th, 2009. Special Guest speaker is Neal Asbury of Greenfield Worldtrade Logistics.

A member from our Team will also be attending the Florida Cargo Brokers and Forwarders meeting on March 18th. The topic: Cargo Theft Briefing. Once again, Beacon 97 Business Park in Doral appears to be one of the safest Miami warehouse locations with it's high-security systems and full-time security guard. Visit http://http://www.Beacon97.com.

Miami warehouses on Twitter Miami

You can now follow Miami commercial real estate news on Miami warehouses by going to http://twitter.com/miamiwarehouses

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Miami-Dade County Unemployment Rate goes down to 6.8%

According to the Beacon Council, Miami-Dade now has a lower unemployment rate than Broward, Florida and national averages.

In regards to Miami commercial real estate, we have seen activity increases significantly since the election and holiday periods. Some companies are doing quite well, however many are seeking exit and down-sizing strategies for both their Miami businesses and warehouses in Miami.