(data source: millersamuel.com)
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20
MAR
2024
MAR
2024
0
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Miami-Dade Contract Activity
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Tenants, spanning e-commerce to importers and beverage companies, are grappling to secure storage space in Miami-Dade due to the record-low vacancy rate of 1.6%, leaving tenants scrambling for space. This surge in demand is fueled by Florida’s robust population growth and thriving tourism sector. With 12.4 million annual visitors, Miami-Dade sees a significant need for warehouse space to support the hospitality industry’s logistics. Broward and Palm Beach counties, while having higher vacancy rates, are also experiencing steady demand. Despite the tight market conditions, rents ...
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27
FEB
2024
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FEB
2024
South Florida’s cost of living surpasses the national average. When an index of 100 represents the national average cost of living across 269 cities, Miami and Fort Lauderdale had index values of 115.3 and 118.3, respectively, in the third quarter of 2023.
Notably, if Manhattan were considered separately, it would lead with an index value of 227.8.
(source: axios.com, picture: rachel-martin)
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20
NOV
2023
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NOV
2023
South Florida’s Miami River is poised for a development surge, with a dozen projects potentially adding 10,500 condo and apartment units. The analysis focused on applications and construction loan filings from the past year, hinting that the count might be higher.
Ranging from proposals to nearly completed constructions, these projects signal a resurgence along the 5.5-mile stretch from Miami International Airport to Biscayne Bay.
The river, a historic site dating back 7,000 years, is witnessing renewed interest after developers diverted to other areas. This resurgence ...
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20
NOV
2023
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NOV
2023
Miami is still working from home
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Almost four years after the pandemic, remote work still shapes Miami’s commercial real estate scene. A U.S. Census survey found that about 15% of Miami-Fort Lauderdale workers telecommuted in 2022, only slightly down from 16% in 2021. Despite this shift, the number of lease transactions remains strong, with Miami seeing 331 office leases in Q2.
The city has almost 2 million square feet of office space under development, indicating confidence in future growth. Although remote work is prominent, the 10% surge in local office rental rates highlights the ...
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23
OCT
2023
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OCT
2023
Dolce&Gabbana joins the Real Estate world
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In a recent announcement, Dolce & Gabbana, the renowned Italian fashion titan, has taken a bold step into the world of luxury real estate through a strategic partnership with the esteemed developer Michael Stern and his JDS Development Group. Dolce & Gabbana has unveiled plans for two exclusive residential ventures as part of this newfound venture.
The first development is set to grace the vibrant city of Miami, and this anticipated partnership is widely believed to be linked to JDS Development Group’s renowned 888 Brickell Avenue project, ...
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20
SEP
2023
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SEP
2023