By Louise Bendix
Miami’s real estate market is making headlines this week with the completion of what is sure to be one of the biggest deals of this year: Miami Herald Company’s new home in Doral.
CREW-Miami member companies Blanca Commercial Real Estate, law firm Bilzin Sumberg and Fairchild Partners all collaborated in this major transaction. We congratulate them on the execution of this complex office lease and land acquisition.
The daily newspaper, The Miami Herald and its sister publication El Nuevo Herald, will relocate from its longtime offices in downtown Miami to the former US Southern Command headquarters in Doral. The company is taking 158,265 square feet of office space and has an 119,000-square-foot production building slated for the adjacent site purchased.
As a leading commercial real estate association in South Florida, CREW-Miami’s vision has always focused on providing a platform where our members can build professional relationships that lead to deal making.
The Miami Herald transaction is the latest example of how members of CREW-Miami work together to make deals happen.
Every year, our organization recognizes members who partner on commercial transactions, from sales to leases, in our “Networking Deal of the Year” awards.
We are excited to start 2012 with several of Miami’s leading real estate practice firms coming together to execute this landmark deal on behalf of their respective clients.
We look forward to another successful year, with continued collaboration among our members and more deals!
By Cheryl Jacobs
In the words of national economist Dr. Hugh Kelly, change comes in many flavors.
In this unique economic environment, we have to be prepared to quickly adapt to change and, at times, expect the unexpected.
More than ever, our national – and regional – economies are susceptible to not only decisions made in Capitol Hill, but abroad (Latin America, Europe, Asia).
For 15 years, CREW-Miami has welcomed a new year with an economic outlook from Dr. Kelly, who is always candid and looks at the big picture when making his projections.
At this year’s economic outlook luncheon, Dr. Kelly underlined how Miami’s development into a 24-hr city will allow us to benefit from future investments at the national and international level.
“When capital flows in, Miami will capture it,” Dr. Kelly said in his presentation.
And in 2011, Miami’s real estate market definitely captured some of that capital. Of the US’s $170 billion in transaction volume, Miami accounted for $2.52 billion in the areas of office, hospitality, retail, industrial and multi-family combined.
This year, the spillover effect from Latin America’s economic growth, particularly in countries like Brazil and Argentina, should continue to positively impact South Florida’s economy.
As we look ahead, let’s picture Miami in 10 years, Dr. Kelly suggested. How do we see our city evolving demographically, economically and as a real estate market?
As business professionals, we should visualize how we see the Magic City – and ourselves – in 2022, so that it helps shape our business decisions today.
In 2012, let’s not dwell on the opportunities that have disappeared, but focus on finding new ones!
(To learn more, check out Dr. Hugh Kelly’s 2012 Economic Outlook Presentation)
Jan. 01, 2012 – Brickell Magazine
Dec. 26, 2011 – The Miami Herald, Business Monday
In 2012, we are doing business in real time.
Our role as real estate professionals is evolving, not only as a result of changes in market dynamics, but due to a less expected factor – technology.
Today, most buyers begin their search for real estate assets online and, increasingly, more are using the aid of mobile real estate apps to learn about prospective properties and market facts.
New tech tools, from mobile real estate apps, to Google Earth and iPads, are transforming how real estate business gets done.
As we celebrate CREW-Miami’s 25th anniversary this year, our aim is to get real estate professionals and the larger commercial real estate community to understand and capitalize on the value that real estate technology tools and social media can offer in growing their business. For those who are hesitant to embrace these innovations, we want to remind them that the competition is not.
We are inspiring our members to tap into new technologies and embrace social media platforms to gain a true competitive advantage.
It’s time for the commercial real estate industry to be at the forefront of new technologies and social media tools that can lead to more successful transactions and help us build stronger professional relationships.
As part of our 2012 campaign initiatives, we are developing unique programming designed to educate our members on new technologies, real estate apps and social media tools.
We invite you to attend our programs to learn how these tools can help you grow your business and stay ahead of the curve.
The time to embrace technology is now!