MIAMI – 2,500 MORE HOTEL ROOMS DUE IN 2015.  Some 2,500 new hotel rooms are expected to come online in Miami in 2015, according to the Greater Miami Convention & Visitors Bureau. While new hotels are expected to be added across all price points, now more than ever the industry is filling in at low- to mid-level offerings and across many Greater Miami neighborhoods, from Brickell to Surfside. Author: Nina Lincoff. Source: Miami Today.

CRE DATA – STOP THINKING SMALL.  what’s going on in CRE regarding data. While the CRE data conversation has mostly revolved around what CoStar/LoopNet and Xceligent are up to, there’s a lot more going on than that. Yes, I’m talking about big data. But everyone in CRE seems to be thinking small.  There’s way too much emphasis on property and listing data. And most of it is “out there” already. You just have to do some work to get it – or pay for it. Except in a few markets, agents complain about the cost and the quality offered by current aggregators. And unless there is more competition, don’t expect pricing to get any better. Source.  CRE Outsider.

OVERSEAS MONEY POURS INTO MIAMI REAL ESTATE.  Miami-Cranes are again rising over this city, as the poster child for the real-estate collapse enjoys a new condominium boom fueled by foreign investors looking to park their money in U.S. real estate.  Authors:  Arian Campo-Flores and Conor Dougherty.  Source:  The Wall Street Journal.

STRIP MALL MARKET SLOW TO RECOVER.  Empty strip malls still plague U.S. shopping centers, as the commercial sector continues to struggle with oversupply from last decade’s housing boom, according to a report from Reis Inc., a real estate research firm.  Source:  Realtor® Mag.

MIAMI DESIGN DISTRICT’S TRANSFORMATION INTO A LUXURY SHOPPING DESTINATION IS UNDERWAY.   Valentino, Fendi, Tom Ford, Dolce & Gabbana, Harry Winston, Givenchy, Giorgio Armani and Van Cleef & Arpels.  All those ultra-luxury fashion and jewelry brands — and many more — will soon open their gilded doors in Miami’s redeveloped Design District, joining other high-end designers like Louis Vuitton, Hermès, Berluti, Emilio Pucci, Prada, Celine and Cartier, which have already set up shops.   Author:  Ina Paiva Cordle.  Source:  The Miami Herald-Business Monday.

LINCOLN ROAD’S HISTORIC CARIB THEATER TO BECOME RETAIL CENTER.  When the 2,200 seat Carib Theater opened on Lincoln Road in 1950, it was a state-of-the-art facility featuring a moving ceiling.  Now, new owners are planning to convert the building into a multi-level retail center.  Source:  exMiami.

MIAMI PORT IMPROVEMENTS DESIGNED TO GROW FOREIGN TRADE.  South Florida is undergoing a boom in rail, airport and seaport logistics infrastructure.  PortMiami in August is expected to begin a $206 million dredging project to deepen the port’s existing 42-foot channel to at least 50 feet. This will accommodate the large, post-Panamax ships that fit through the expanded Panama Canal in 2015.  Read entire article… Author:  Kevin Gale.  Source:  South Florida Business Journal.

COMMERCIAL LANDS PRICES SOARING.  Construction is suddenly rampant again across Miami-Dade County, and demand for sites is driving up the cost of commercially zoned land. “Prices are increasing at an incredible pace,” said Melissa Tapanes Llahues, a shareholder with Bercow Radell & Fernandez, a law firm specializing in zoning, land use and environmental law.  Author: Marilyn Bowden. Source: Miami Today.

25 REITS MOST LIKELY TO BUY YOUR PROPERTY IN 2013.  This may well be the year that property owners in secondary and tertiary markets get a chance to cash in on the spending spree of the nation’s largest publicly held REITs and real estate operating companies. The torrid pace of acquisitions seen within this sector over the past two years is expected to continue this year, but with more buyers casting their nets across more markets.   Author:  Mark Heschmeyer.  Source:  CoStar® Group.

COMMERCIAL REAL ESTATE FUNDAMENTALS IMPROVING, LENDING TIGHT FOR SMALL BUSINESS.  With vacancy rates modestly falling and rents moderately rising in commercial real estate sectors, market fundamentals have improved, but financing remains a challenge for small business, according to the National Association of Realtors® quarterly commercial real estate forecast…National vacancy rates over the coming year are expected to decline 0.1 percentage point in the office market, 0.5 point in industrial, and 0.3 point for retail; however, the average multifamily vacancy rate is forecast to rise 0.2 percentage point, with that sector still showing the tightest availability and biggest rent increases.  Author/Media Contact:  Walter Molony.  Source:  National Association of Realtors®

CMBS COMPLEXITIES:  A GLANCE UNDER THE HOOD.  Ever wonder why it requires a high level of sophistication, knowledge and experience to resolve distressed CMBS loans? Look no further than the complexity of the underlying structure. Check out this info-graphic generated by Case Property Services that merely scratches the surface.  Author:  Shlomo Chopp.  Source:  Case Property Services.

NEW $100 MILLION INDUSTRIAL PARK PLANNED IN MIAMI-DADE COUNTY. Butters Construction & Development is starting the new year with another announcement for the largest new industrial development in Miami-Dade County. Butters has partnered with L&B Realty Advisors to develop a 918,000-square-foot, Class A bulk distribution industrial park on a 44.5-acre site at NW 87th Avenue and NW 80th Street in Medley, Florida. Butters retained CBRE to procure a well-capitalized and institutional equity partner to acquire the site and develop the park. CBRE identified L&B Realty Advisors, and their client, the State of Florida, as the equity partner for the deal.  Author:  Lauren Crawford, CBRE, Source: Real Estate Rama.

THE NET LEASE MARKET REPORT Q4 2012.  Cap rates for the single tenant net leased market continued to remain near historic lows for retail, office and industrial sectors in the fourth quarter of 2012. Most notably, cap rates for net leased retail properties declined by 25 basis points when compared to the third quarter of 2012. Cap rates for net leased office properties rose slightly and net leased industrial properties declined slightly. In the fourth quarter of 2012, net leased retail properties are experiencing a premium in excess of 75 basis points over both office and industrial net lease properties.  Author:  John Feeney, Research Director,  Source:  The Boulder Group.

WHAT’S IN STORE FOR THE COMMERCIAL MARKET IN 2013?  Miami’s commercial market continued its climb out of the downturn in 2012, with improvements across the retail, office and industrial sectors.  But what’s on the horizon for a market vulnerable to a still stagnant national and local economy?  Author:  Alexander Britell, Source:  The Real Deal.

ORLANDO GAINS MORE THAN 18,000 PRIVATE SECTOR JOBS THIS YEAR.  Orlando is one of 87 major metropolitan areas that have more private-sector jobs now than a year ago, according to an On Numbers analysis of the latest U.S. Bureau of Labor Statistics data for all 102 markets with more than 500,000 residents.  Author:  Megan Anderson, Source:  Orlando Business Journal.

SHOPPING CENTER GROUP CEO BIRNBREY ON CURRENT RETAIL LANDSCAPE.  While it’s seeing a rebound, the retail real estate landscape is changing as retailers are taking smaller spaces while battling online sellers for consumer dollars. David Birnbrey, chairman and co-CEO of the Shopping Center Group LLC, outlined the past, present and future of retail during a CCIM/SIOR joint luncheon Wednesday in Memphis.  Author:  Andy Ashby, Source:  Memphis Business Journal.

DELOITTE CRE OUTLOOK:  TOP TEN ISSUES IN 2013.  The U.S. commercial real estate (CRE) recovery, although slow, has been visible in improved fundamentals, capital availability, asset pricing and transactions. REITs continue to outperform others, primarily due to higher liquidity and relatively easy access to capital markets. However, the CRE recovery appears to be unsteady, with increased “caution” given the nation’s stalled economic recovery, which is due, in part, to sovereign debt problems and economic stagnation in Europe as well as slowing growth in emerging markets such as China and India.  This report, the 14th in Deloitte’s series on critical issues affecting real estate, examines CRE market trends and developments, with a focus on potential solutions to help CRE players favorably position themselves in the medium-to-long term future.  Author:  Deloitte, Source:  Corporate Real Estate Group.

INVESTORS STOCKING UP ON GROCERY-ANCHORED CENTERS AGAIN.  After sales plummeted earlier this year, investors are once more slowly warming up to grocery-anchored shopping centers. Two major portfolio of properties changed hands this past week.  Sales totals of neighborhood / community shopping centers topped $1.2 billion in every quarter of 2011, and surpassed $2 billion in each the third and fourth quarter of that year. Then sales of this type retail center plummeted to $600 million in the first quarter.  Author:  Mark Heschmeyer, Source:  CoStar Group.

GOT CLASS?  THE SLIPPERY BUSINESS OF CLASSIFYING OFFICE SPACE.  Classifying office space as Class A, B or C can be a subjective business.  Yet many businesses searching for space have their own perspective on what classes mean.  At the end of the day, most want to be in the highest quality space for the best rate or value.  Author:  Barbi Reuter, RPA, Source:

MIAMI ARENA SITE TRANSFERS TO MIAMI WORLD CENTER PARTNERS FOR $35M.  A Glenn Straub affiliate has transferred land associated with the former Miami Arena in downtown Miami to a group that includes Art Falcone and Nitin Motwani, Partners in Miami World Center.  Author:  Oscar Pedro Musibay, Source:  South Florida Business Journal.

MIAMI INDUSTRIAL VACANCY FALLS TO 8.3 PERCENT.  The industrial vacancy rate in Miami fell to 8.3 percent in the third quarter of 2012, according to a new report from Jones Lang LaSalle.  Author:  Alexander Britell, Source:  The Real Deal.

OUTLET MALLS GROW MORE LUXURIOUS.  As the outlet mall segment of the retail sector has grown amid tough economic times, more outlet centers are focusing on upscale designer brands that appeal to high-end consumers.  Author:  Carisa Chappell, Source:

RETAIL LANDLORDS: MALLS DOING WELL DESPITE ONLINE SALES.  In spite of the rapid rise in online sales that have hurt a number of national retailers, the biggest shopping-mall companies are doing quite well, thank you.  Author:  Kris Hudson, Source:  The Wall Street Journal.

LINCOLN THEATRE’S RETAIL CONVERSION A DAZZLING DECO DRAMA IN MIAMI BEACH.  A multimillion-dollar conversion into a retail center is restoring the Lincoln Theatre’s dramatic Art Deco design and commercial shine.  Author:  Andres Viglucci, Source:  The Miami Herald.

NET LEASE PROPERTIES BECOME A HOT COMMODITY DUE TO LOW YIELDS ON ALTERNATIVE INVESTMENTS.  September proved to be a busy month for the single tenant net lease sector.  Within a 24-hour period on September 6, Realty Income Corp., an Escondido, CA based REIT specializing in net lease properties, bought American Realty Capital Trust, which owns 501 mostly net lease buildings, for approximately $2.95B, then Lexington Realty Trust, a New York City based REIT, announced it was acquiring a portfolio of net lease office and industrial properties from its joint venture with Inland American for $480M.  Author:  Elaine Misonzhnik, Source:  National Real Estate Investor.

LIONHEART CAPITAL SELLS PERMITTED MIAMI SITE FOR $5.75M.  Lionheart Capital has sold a Biscayne Boulevard site in Miami with an active permit for a 16-story residential project for $5.75 million.  Author:  Oscar Pedro Musibay, Source:  South Florida Business Journal.

OLD DOWNTOWN BANK TO BECOME BOUTIQUE HOTEL.  Developers are planning to turn an old bank building into a boutique hotel in the heart of downtown Miami.  Author:  Hannah Sampson, Source:  The Miami Herald.

BAL HARBOUR SHOPS REACHES DEAL TO ACQUIRE CHURCH BY THE SEA PROPERTY.  A key hurdle to the expansion of the Bal Harbour Shops was cleared Tuesday when the shopping center secured the right to acquire the property of the adjoining Church by the Sea.  Author:  Elaine Walker, Source:  The Miami Herald.

LAND…IS IT STILL A FOUR LETTER WORD IN COMMERCIAL REAL ESTATE MARKETS.  Even as the fundamentals in various commercial real estate markets around the nation recover and improve, land loans continue to plague the balance sheet of banks and other lenders.  Author:  Gabe Gonzalez.  Source:  Metropolitan Capital Advisors.

HERALD’S OLD BUILDING NOT UP TO PRESERVATION STANDARD.  With discussion swirling around the possibility of historic designation for the old Miami Herald building, one must not lose sight of the intent and purpose of the city’s preservation program.  Authors:  Richard J. Heisenbottle and Ivan Rodriguez.  Source:  The Miami Herald.

BANK SELLS MIAMI BEACH TOWNHOME PROJECT AT $19M DISCOUNT.  A bank sold a partially completed townhome project in Miami Beach at an $18.85 million discount to its foreclosed mortgage.  Author:  Brian Bandell.  Source:  South Florida Business Journal.

FLAGLER SWITCHES GEARS, BROKERS TO LEAVE.  Some of the biggest names in South Florida commercial real estate are poised to leave Flagler Real Estate Services.  Author:  Oscar Pedro Musibay.  Source:  South Florida Business Journal.

GROCERY CHAINS BUY UP SHOPPING CENTERS IN A DEFENSIVE PLAY.  As more grocery-anchored center owners decide to put their properties on the market to take advantage of strong investor demand, grocery chains are stepping in and claiming the centers they anchor to avoid risking the uncertainty of a new owner.  Author: Jennifer Popovec.  Source: Retail Traffic.

HEALTH CARE REIT ACQUIRING SUNRISE SENIOR LIVING PORTFOLIO FOR $1.9 BILLION.  Acquisition includes a real estate pipeline of more than $2 billion.  Author: Mark Heschmeyer.  Source: CoStar Group.

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