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Archive for the 'Commercial Real Estate' Category
Thinking About Investing in Miami Real Estate?
I attended the Realtors Commercial Alliance’s Super Conference today and wanted to share some of the things I heard that may help you decide whether or not now is the time to invest in real estate.
Dr. Randy Anderson, the Howard Phillips Eminent Scholar Chair at the University of Central Florida:
- pointed out that no other asset class did better on growth of a $10,000 investment between 1996-2010 than direct real estate;
- retail sales are higher than before we entered the recession despite low consumer confidence, mostly due to pent up demand. He believes retail sales will start to level off and stabilize.
- Most buyers underestimate the cost of owning an office space because they base their projections on a 5-10% vacancy when nationally it is closer to 12-14%
- Big institutional investors have been purchasing Miami real estate for the last year.
- Each 1% decline in homeownership is equal to 1.2 million rental households
Dr. Pascal Goldschmidt, Senior V.P. Medical Affairs and Dean of UM Miller School of Medicine:
- stated that every great city has a great educational hospital
- projects that when UM’s Life Sciences Center is built out over the next 7 years, there will be 10,000-15,000 new jobs with an average salary of $65,000-$75,000.
- Miami Dade College is working to train people who live in the area, which is next to Jackson Hospital, to work in various aspects of the medical/health field.
- Envisions a live work area around Life Science Park.
Jeffrey Bercow, attorney with Bercow Radell & Fernandez, P.A.
- believes that Miami-Dade County is under-retailed when compared with Broward and West Palm Beach
If owning the physical real estate does not interest you, consider investing in a Real Estate Investment Trust (REIT) such as Duke Realty or Healthcare Realty.
San Jose Island, Panama: How Big is 11,000 Acres?
San Jose Island, Panama For Sale
Okay, I have already posted that it is twice the size of Key West, but maybe that is still hard to put into perspective. So, I will compare it in size to other famous islands. Using AskNumbers.com conversion table, I came up with the following:
Cayman Brac: 14 square miles =8,960 acres
Little Cayman: 10 square miles = 6,400 acres
St. Barts: 10 square miles = 6,400 acres
Virgin Gorda: 8 square miles = 5,120 acres
Basically, 11,000 acres is big enough for you to build your own town, or two!
Miami Real Estate – Commercial Construction Also Picking Up
I have been seeing more commercial buildings going up in Miami as well. All small signs the economy is improving.
Private Islands: What The Rich and Famous Are Buying
The Exhumas, Bahamas is where the rich and famous are buying islands, according to an article in the July 28 edition of the Wall Street Journal.
Some of the issues that arise with developing these islands, such as importing electricity, cell phone towers, water purifiers, the building materials and even, in some cases, the palm trees, can make development extremely costly.
San Jose Island, in the Pearl Islands off the coast of Panama, does not have a lot of these issues. Granted, at 11,000 acres, approximately twice the size of Key West, it is a much larger island than the ones in Exuma. It has its own rivers and streams, providing fresh water, as well as a water treatment facility capable of producing 3,000 gallons of water an hour, and a 10,000 gallon storage tank. It has a 5000 linear foot landing strip, lots of trees, including palm trees, mooring facilities, and a boutique resort, Hacienda del Mar.
A short 20 minute flight to Panama City, Panama, means you are in close proximity to world class entertainment and medical facilities, including John Hopkins at Punta Pacifica Hospital.
Compared to the most expensive island for sale in the Bahamas, Cave Cay, at $440,000 per acre, San Jose Island , at $22,545 per acre, seems like a downright bargain. Oh, I almost forgot…Panama doesn’t have hurricanes!
One of 57 Beaches on San Jose Island
Ever Dream of Owning Your Own Private Island?
Student Housing Popular With Investors
An article in CoStar regarding student housing, reinforced what I already know. Student housing is a good investment and not all student housing is created equal. As a parent with two students in college, and a third student one year away, I spend a lot of money on housing. My first experience was when we arrived in Gainesville four years ago. We found that student housing is big business and extremely competitive in terms of rental rates. For less than $600 a month, my son had his own room and bathroom in a fully furnished apartment in a student complex. It was secure, had tons of amenities and activities geared around the college student. Even though he wasn’t living in the dorms, I feel like he still had a dorm-like experience.
Our second son is attending college in Fort Meyers and though he is living in the dorms, there is a student housing complex nearby identical to the one my son in Gainesville lived in. It is expected to be completely rented out in the next couple of months because the university just bought up a large multi-family complex close to their campus to convert into off campus dorms. In terms of investments, it is no wonder student housing is popular. Remember, the closer to campus, the higher the premium.
Developers Are Betting On Miami Real Estate
With two new extremely large developments announced within the last couple of months, I would venture to bet that Miami-Dade County is on a rebound, though price appreciation may take a while.
Genting Malaysia Berhadresort and Swire Properties Brickell CitiCentre are sure to bring much needed amenities to the Biscayne Boulevard corridor and the area west of Brickell Avenue.
Office Building For Sale Coral Gables, FL
This free-standing building with 14 parking space at 3860 SW 8 Street, Coral Gables is a great buy. Located in the popular 
medical district of 8th Street and Ponce de Leon, it is a great buy: 6535 square feet for $1,300,000 is less than $200 per square foot. You can’t build a new building for that price! Hurricane shutters, elevator, open air spaces, offices, conference rooms
Private Island For Sale, Pearl Islands, Panama
3860 SW 8 St., Coral Gables – Free Standing Office Building For Sale
Free Standing Office Building with Parking
This updaated and well maintained office building is in the bustling medical and office district of 8th street, between Galiano and Ponce De Leon in Coral Gables. Hurricane shutters, 14 parking spaces, an automatic gate and great location, make this an ideal building for an owner-user. 6,535 square feet at $229 per square foot.
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