Category: Commercial Real Estate

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Commercial Real Estate Investment Real Estate

Fearless Friday

Fear Holds You Back
Fear Can Hold You Back Or Propel You Forward

Since tomorrow is Halloween, I decided to start a new series on Fridays. The purpose of Fearless Friday is to share my thoughts, experiences, conversations and readings on fear, how it has held me back, and how I learned, and continue to learn, to address the fears. I am amazed at our human ability to self sabotage and a lot of the reason we do so is due to fear.

Dictionary.com defines fear as “a distressing emotion aroused by impending danger, evil, pain, etc., whether the threat is real or imagined“. Wow! My imagination has lead me to pass up on great ideas and business opportunities. Luckily, during one real estate purchase I almost sabotaged, after having done so on several before, I realized it was fear, I found a way to address it, and went through with the purchase, which I am grateful for every day. I will share the whole experience with you next week. It is the one that opened up my eyes and has allowed me to identify and address my fears. So, unlike the fearful sign “Beware, Go Back” I prefer Be Aware and Go Forward.

In The Shark And The Goldfish, Jon Gordon states, “Fear and faith have one thing in common – they both believe in a future that hasn’t happened yet”. For a faith over fear story and how it relates to real estate, you can read, “Snakes, Skunks and Real Estate” See you next Fearless Friday. In the meantime, stay fearless.

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Buying Coconut Grove Commercial Real Estate Investment Real Estate Neighborhood News

Renovating Commercial Real Estate

Offices at CocoWalk
Offices at CocoWalk

Back in May, the National Association of Realtors released “Case Studies of Repurposing Vacant Malls.” Although none of them were in Florida, the case studies, and Morgan Stanley’s warning that 30-35% of U.S. shopping malls could close permanently, got me to thinking about what some of our local shopping malls have done to not close or have to repurpose.

New Restaurants from Groot Hospitality Coming to Coconut Grove

My favorite one of the moment is CocoWalk. Purchased in 2015 for $87.5 million by Federal Realty Investment Trust, Grass River Property, and Michael Comras, the property is currently undergoing a major renovation turning it into a modern, mixed-use center, with office, retail and entertainment. I am especially looking forward to the offerings by Groot Hospitality

I am not one of the people who believe retail is dead. I only think it is changing, from old and passive to new and exciting. As always, those with a vision like the new CocoWalk group, will bring the change required to revive and renovate commercial buildings that may be affected by the pandemic.

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Commercial Real Estate Coral Gables Neighborhood News Selling Small Business

Small Businesses Expand During Covid-19

Aria Rose Instagram Wall
Aria Rose Boutique 305 Palermo, Coral Gables

Yes, you heard that correctly…some small businesses are expanding during the pandemic. Aria Rose Boutique in Coral Gables is just one example. Owned and curated by Lauren Patao, this boutique started out in a bedroom, grew to a small store front and, in the middle of a pandemic, expanded to it’s beautiful new location. I think Lauren’s positive attitude, clear vision, friendly disposition, customer service, and the gratitude she exudes in everything she does, as well as her sense of easy, comfortable style, accounts for her success.

Aria Rose Instagram Wall

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Buying Commercial Real Estate Investment Real Estate Selling

From Distraction to Traction

Yesterday, during Beth Azor’s Rockstar Book Club, we discussed the book ‘Indistractable‘, by Nir Eyal. In it, Eyal discusses the difference between external triggers (think social media, e-mail notifications, knock on the door by a colleague) and internal triggers (such as boredom, stress or fear) and how these triggers can lead us to either traction or distraction. The former moves us forward toward achieving our goals and the latter leads us away from them.

If we focus on the negative side of anything, we are vulnerable to distraction and, chances are, our outcomes will be negative. Many authors have discussed how we are hardwired to see things from a negative perspective. It is what has allowed us to survive and evolve. However, we can change the way we think about our triggers by identifying them, and coming up with several methods of dealing with the triggers. One of my favorites, was the identity pact. Here, you change the wording from a negative context (I can’t eat meat, I am not an athlete, I have to exercise) to a positive one (I am a vegetarian/vegan, I am athletic/active, I exercise). By doing so, you will define yourself or the situation positively vs negatively and that will change your mindset. Saying “Remember to” vs “Don’t Forget To” is similar.

This is not a new concept, but especially now, during a worldwide pandemic and when negative news and behaviors bombard us, I find it is worth remembering and practicing. What does this have to do with real estate? If your goal is to invest in real estate, open a business or expand or pivot a current one, avoiding the distractions and focusing on your goal will ensure that you can say, “I am a real estate investor/business owner”.

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Buying Commercial Real Estate Freebies Investment Real Estate Selling

Commercial Real Estate in South Florida Just Got Easier to Find

Search for commercial real estate
South Florida Commercial Real Estate Search
Miami Commercial Real Estate
South Florida Commercial Real Estate Search

Commercial real estate is different from residential real estate in so many ways, starting with finding it! Residential real estate has local MLS, Realtor.com, Zillow, Trulia, residential real estate company websites, and plenty of social media posts, pictures, and video.

Commercial real estate has always been a bit more elusive. Investors either relied on their network/word of mouth, commercial agent, or driving neighborhoods and knocking on doors. Commercial agents who didn’t have properties that met their investors’ criteria also relied on their network/word of mouth, driving neighborhoods and knocking on doors.

With the advent of the internet and rise of social media, real estate investors have become more efficient in their search for property and millennials are driving the demand for more information and data. As a result, there is a lot of money being spent on gathering commercial property data and developing new, on-line methods of marketing, some of which can be very expensive.

MIAMI Commercial, the commercial division of MIAMI Realtors, saw the need to provide both agents and the public with a transparent way of searching for commercial and investment property and, in September 2019, launched The South Florida Commercial MLS.

This platform takes all properties, excluding residential which are already on public platforms, that are listed in MIAMI Realtors MLS and allows the public to search for free, without registering or providing any contact information. It is intuitive and the searching public can choose to search in English, Spanish, or Portuguese, a variety of currencies, or in square feet or square meters.

The numbers relating to the public site for November are as follows:

  • 4,064 listings
  • 3,039 users
  • 2,068 new users
  • 25,087 page views

Argentina, Venezuela and China were the top four countries outside of the U.S that searched the site and the top three U.S. States outside of Florida were California, Texas, and North Carolina.

Searching for commercial property in South Florida? Your search just got a bit easier.

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Brickell/Downtown Miami Commercial Real Estate Florida Life Investment Real Estate Neighborhood News

The Underline’s Brickell Backyard Is Under Construction

I drove by  The Underline’s Brickell Backyard, the first phase of  9 phases, and am excited to see that construction has started.   This ambitious project will  convert 10 miles and 120 acres of unused space under the existing MetroRail into a vibrant linear park.  In the process, it will transform the real estate along the 10 mile corridor as well.





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Commercial Real Estate Florida Life

6 Florida Laws That Go Into Effect Will Impact Commercial Real Estate

Part of what I do every year is travel to Tallahassee and Washington D.C. to lobby for private property rights and issues that affect commercial real estate.  This year, we had a lot of wins, especially at the state level, with Governor DeSantis signing several bills we supported into law in the last month.  These laws will be going into effect between July 1, 2019 and January 1, 2020 and all have an impact on commercial real estate.

Florida Gov. Ron DeSantis signed several bills into law that have a direct impact on real estate.  The results include the following:

  • Reduction to the state tax on commercial leases to 5.5%.  Known as the business rent tax (BRT), the decrease will take effect January 1, 2020. (HB 7123).  If you are a landlord, remember to adjust the sales tax on your invoicing.  If you are a tenant, make sure the adjustment has been made.
  • Allowing local governments to close a permit six years after issuance, as long as there are no apparent safety hazards, and preventing local governments for penalizing property owners for open permits applied for before they owned the property.  This law will take effect Octover 1, 2019. (HB 447).  This is great news, as closings should not be delayed for permits that were opened and not closed long ago.
  • Authorization of online remote notaries while protecting the integrity and security of documents being notarized.  You can start using online remote notaries beginning January 1, 2020. (HB 409)  This is especially good news for our international buyers and sellers as notaries in other countries are quite different from notaries and the U.S., making getting documents notarized abroad a challenge.
  • Allocation of $682 million for environmental projects specifically for improving water quality and for Everglades and beach restoration.  This is wonderful news for all Floridians.  After all, people come here for our beaches and water activities, not our mountains!
  • Developers in areas lacking private wetlands mitigation credits may now partner with local governments to mitigate on publicly-owned conservation land. Goes into effect July 1, 2019. (HB 521)
  • Legalization of self-driving cars.  Effective July 1, 2019 (HB 311).  How will this change parking requirements in buildings, cities, and neighborhoods?

If there is an issue in your neighborhood or that you are facing that restricts your private property rights or that affects how you conduct business in a negative way, give me a call to discuss.





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Buying Coconut Grove Commercial Real Estate Investment Real Estate Selling South Miami

Commercial Real Estate: Renovate, Re-purpose or Rebuild?

Renovation is nothing new to investors who look for value-add properties. Sometimes a fresh coat of paint, new fixtures, or an exterior update are all that is needed for a new owner to be able to boost rents.

Renovated Office Building on Red Road in South Miami, FL

I have read several articles lately about re-purposing buildings, and there is a great example of one in Coconut Grove. Touzette studios designed a mixed use office and retail building out of a parking garage.

Previous parking garage being repurposed to office – Mary Street, Coconut Grove, FL

The Shoppes at Sunset Place and Cocowalk are a combination of all three.

Construction of new office space at CocoWalk – Coconut Grove, FL

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Commercial Real Estate Investment Real Estate

Have A Warehouse You Want to Sell?

If you do, congratulations!  Warehouse is currently the most sought after asset class in South Florida.  So many of the older warehouse areas, such as Wynwood, have been re-imagined into vibrant neighborhoods and the warehouses have been replaced with new offices, condos, and retail space.  In an area where PortMiami and Miami International Airport are top international freight gateways, warehouse space is critical.  I have buyers for both large and small warehouses.





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Commercial Real Estate Investment Real Estate Selling

MIAMI Realtors and FIABCI Arabic Countries Sign Collaboration Agreement

MIAMI Realtors with FIABCI World President Walid Moussa

MIAMI Realtors with FIABCI World President Walid Moussa

Today, several MIAMI Realtor Board members were present for the visit of Walid Moussa, who is FIABCI Arabic Countries President and FIABCI World President Elect.  The MIAMI Association of REALTORS signed an international collaboration agreement with FIABCI Arabic Countries to promote Miami as a place to do business and create opportunities to work together to sell properties in South Florida.

At a time when commercial real estate investors from around the world are showing an interest in Miami, these agreements help create the relationships required to get deals done.