The Loan Committee™

Florida’s Industrial Real Estate Market Continues Evolving

Are we at pre-recession levels yet?

The U.S. Environmental Protection Agency (EPA) filed a complaint against Dynamic Construction and Roofing, LLC of Florida as part of an announcement that included 62 enforcement actions requiring renovation contractors and training providers to protect people from harmful exposure to lead dust and debris, as required by EPA’s Lead-based Paint Renovation, Repair, and Painting (RRP) standards.

The enforcement actions include 55 settlements and six complaints issued between February and October 2014 for renovations performed on pre-1978 homes and child-care facilities. All of the settlements require that the alleged violators certify their compliance with RRP standards and, in most cases, pay civil penalties. In two of the settlements, the violators agreed to fund voluntary lead abatement supplemental environmental projects, which require the removal of lead-based paint and post-construction testing to ensure that no hazardous conditions remain. The settlements led to $213,171 in civil penalties and the violators coming into compliance with federal law. These recent actions are in addition to EPA’s settlement with Lowe’s Home Improvement in April 2014, which included a $500,000 civil penalty as well as implementation of a corporate-wide RRP compliance program. Source: US EPA  read entire article…

MS. LORI PARRISH, CFA, Broward County Property Appraiser (BCPA) was the keynote speaker at The Loan Committee breakfast held at the Tower Club on November 16, 2012.  Mr. Dan Hafner, MAI, Commercial Senior Coordinator, and Mr. Robert Zbikowski, MAI, Commercial Senior Appraiser with the BCPA also addressed the group.  What to expect in 2013 and beyond based on trends over the last four years was discussed, as well as a discussion of recent changes (legal, etc.) that members of The Loan Committee should be aware of.  Attendees included south Florida lenders and commercial real estate professionals.

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.  read entire article…  Author:  Mark Heschmeyer,  Source:  CoStar Group

random business shot (Photo credit: Pierre Metivier)

Florida community banks and credit unions said regulatory compliance was their biggest obstacle, event greater than economic problems, according to a survey by the Florida Chamber of Commerce and Florida CFO Jeff Atwater.  Author:  Brian Bandell, Source:  Orlando Business Journal.  read entire article….

DAVID SELESKI, President and CEO with Stonegate Bank was the keynote speaker at The Loan Committee breakfast held at the Tower Club on September 21, 2012.  Mr. Seleski gave an informative presentation on recent trends in commercial banking and regulatory updates.  Attendees included south Florida lenders and commercial real estate professionals.

Bank of America Center in Downtown Miami, with the Metromover track in the foreground (Photo credit: Wikipedia)

Bauer Financial upgraded its ratings for Bank of America and SunTrust Banks, two of the largest banks in South Florida, as well as three Miami-based banks that were boosted to the highest possible rating.  Author:  Brian Bandell.  Source:  South Florida Business Journal

English: The Miami Herald and El Nuevo Herald building in Miami, Florida as seen from the Venetian Causeway 7/11/2008. Español: El edificio del The Miami Herald y El Nuevo Herald (Photo credit: Wikipedia)

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