The document summarizes the state of the Miami-Dade office market in the first quarter of 2011. Key points include:
- The market is stabilizing after a period of decline, though vacancy rates remain high, especially for class A and B space.
- Unemployment is declining but still higher than the national average.
- Recent large lease deals are noted, with the largest being 32,000 SF for FIU in Brickell.
- Upcoming port expansion projects are expected to boost trade and create thousands of new jobs in Miami.
The document discusses Jewish business ethics and traditions around money lending. It notes that historically Jewish tradition prohibited charging interest on loans to fellow Jews. It provides biblical sources that discourage putting obstacles in front of the blind or imposing on the poor. The document also discusses ethical treatment of debtors and paying workers promptly. Overall it examines how ancient Jewish financial principles around fairness, charity and dignity might apply to modern business.
Citi Habitats' 4th Quarter 2009 rental market report shows:
- Rental prices were nominally lower than the 3rd Quarter of 2009, averaging a decrease of about 1-3% across unit types.
- Vacancy rates increased only marginally from the 3rd Quarter.
- Over 12,900 rental transactions were completed in 2009, a 23% increase over 2008.
- Rental prices in 2009 averaged about 7% lower than 2008 levels due to market corrections, though landlord concessions would make the decreases greater.
- Nearly 3,700 new rental units entered the Manhattan market south of 96th Street in 2009 and saw strong absorption.
(1.09)6 1 + g
Where:
FCFH+1 = Forecast FCF in year 7 = $6.8 million
g = Long-term growth rate = 3%
PVH = $67.6 million
Total value = PV(FCF) + PVH = $20.3 million + $67.6 million = $87.9 million
Therefore, the value of Rio Corporation is $87.9 million.
The Miami office market saw a slight decline in vacancy in the second quarter of 2011, positive net absorption, and office sales surpassing 2010 figures. Leasing activity was stable with over 700,000 square feet signed in the quarter. Unemployment in Miami-Dade County increased to 13.7%, the highest in South Florida. Three new office buildings totaling 832,000 square feet are under construction and expected to be delivered by the end of the year.
The document provides information on the Miami-Dade office market and commercial real estate transactions. It includes:
1) Notes from Elizabeth Santos, a CBRE office specialist, on her experience and clients.
2) A section on marketing tips for business success, including tips like branding as an expert, developing a marketing calendar, and following up regularly.
3) A personal note from Elizabeth on her anniversary trip to Washington DC.
4) Details on recent commercial real estate transactions and tenants in the Miami area. Elizabeth encourages contacting her about opportunities in the improving commercial real estate market.
Over 42 years, Jacobson has evolved from a small warehouse company into one of the largest logistics providers in the US. It offers contract logistics, transportation logistics, and international logistics services through a network of over 190 sites worldwide. Jacobson manages over 35 million square feet of warehouse space and provides services including warehousing, packaging, transportation, project management, and customs brokerage.
The document summarizes the results of a survey of local businesses regarding their performance in 2009 and outlook for 2010. It found that 2009 revenues were lower than expected for many businesses, with over half seeing revenues lower than 2008. Most businesses had cost cutting measures like hiring freezes or layoffs. Looking to 2010, about a third expect increased revenues but others anticipate more difficulties. The local real estate market saw increased vacancy rates and falling rental prices in 2009.
The document discusses Jewish business ethics and traditions around money lending. It notes that historically Jewish tradition prohibited charging interest on loans to fellow Jews. It provides biblical sources that discourage putting obstacles in front of the blind or imposing on the poor. The document also discusses ethical treatment of debtors and paying workers promptly. Overall it examines how ancient Jewish financial principles around fairness, charity and dignity might apply to modern business.
Citi Habitats' 4th Quarter 2009 rental market report shows:
- Rental prices were nominally lower than the 3rd Quarter of 2009, averaging a decrease of about 1-3% across unit types.
- Vacancy rates increased only marginally from the 3rd Quarter.
- Over 12,900 rental transactions were completed in 2009, a 23% increase over 2008.
- Rental prices in 2009 averaged about 7% lower than 2008 levels due to market corrections, though landlord concessions would make the decreases greater.
- Nearly 3,700 new rental units entered the Manhattan market south of 96th Street in 2009 and saw strong absorption.
(1.09)6 1 + g
Where:
FCFH+1 = Forecast FCF in year 7 = $6.8 million
g = Long-term growth rate = 3%
PVH = $67.6 million
Total value = PV(FCF) + PVH = $20.3 million + $67.6 million = $87.9 million
Therefore, the value of Rio Corporation is $87.9 million.
The Miami office market saw a slight decline in vacancy in the second quarter of 2011, positive net absorption, and office sales surpassing 2010 figures. Leasing activity was stable with over 700,000 square feet signed in the quarter. Unemployment in Miami-Dade County increased to 13.7%, the highest in South Florida. Three new office buildings totaling 832,000 square feet are under construction and expected to be delivered by the end of the year.
The document provides information on the Miami-Dade office market and commercial real estate transactions. It includes:
1) Notes from Elizabeth Santos, a CBRE office specialist, on her experience and clients.
2) A section on marketing tips for business success, including tips like branding as an expert, developing a marketing calendar, and following up regularly.
3) A personal note from Elizabeth on her anniversary trip to Washington DC.
4) Details on recent commercial real estate transactions and tenants in the Miami area. Elizabeth encourages contacting her about opportunities in the improving commercial real estate market.
Over 42 years, Jacobson has evolved from a small warehouse company into one of the largest logistics providers in the US. It offers contract logistics, transportation logistics, and international logistics services through a network of over 190 sites worldwide. Jacobson manages over 35 million square feet of warehouse space and provides services including warehousing, packaging, transportation, project management, and customs brokerage.
The document summarizes the results of a survey of local businesses regarding their performance in 2009 and outlook for 2010. It found that 2009 revenues were lower than expected for many businesses, with over half seeing revenues lower than 2008. Most businesses had cost cutting measures like hiring freezes or layoffs. Looking to 2010, about a third expect increased revenues but others anticipate more difficulties. The local real estate market saw increased vacancy rates and falling rental prices in 2009.
This document summarizes the state of the Miami-Dade office market in 2010 and provides a forecast for 2011. It discusses trends such as tenants moving to higher quality buildings while still being able to negotiate good lease terms. Large tenants made significant moves in 2010, increasing available sublease space. The forecast predicts continued flight to quality and slow economic recovery allowing small expansions. The document also provides statistics on vacancy rates, absorption, lease rates, and construction in different submarkets. It highlights some of the largest lease deals in 2010 and a featured property for lease.
This document provides an overview of commercial real estate trends in Miami, Florida. It discusses why many multinational companies choose Miami as their Latin American headquarters, noting the city's proximity to Latin America, international airport and consulates. The office market statistics show high vacancy rates and availability, putting downward pressure on lease rates. The top leasing activity in 2010 is listed along with the unemployment rate in Miami-Dade County of 13%. The document promotes Elizabeth Santos as a commercial real estate broker with experience representing tenants.
The Miami office market remains in flux as the local economy struggles from the housing downturn. In 2009 and Q1 2010, 2.3 million square feet of new office space was added to the market, with a total vacancy rate of 56.5%, well above the county average of 16.5%. Two new buildings delivered in Q1 2010 contributed to increased vacancy. The three new buildings in the CBD are pre-certified LEED but have high vacancy rates, reflecting reluctance of companies to commit during economic uncertainty. Landlords are pursuing LEED certification and renovations to distinguish properties.
The San Diego County office market posted strong demand in Q1 2013 with over 365,000 square feet of positive net absorption. Vacancy rates declined across most classes and submarkets. Class B properties saw particularly high demand, with 413,000 square feet of net absorption. Large lease deals included XIFIN leasing 45,000 square feet in Carmel Valley and Union Bank leasing 84,000 square feet in UTC. New supply is expected to come online throughout 2013 and 2014 from projects in Sorrento Mesa, Carmel Valley, and UTC. Opportunities exist for tenants in Downtown San Diego's 19% vacancy rate and limited prime options in high-demand submarkets.
The numbers are out, and the Tampa Bay office market started the year strong. Ever tightening vacancy and climbing asking rates could make 2018 the year we see development in downtown and the suburbs alike!
JLL Detroit Office Insight & Statistics - Q1 2018Harrison West
2018 is poised to be another great year of growth for Detroit’s office market. With transformational developments underway like the Hudson’s site downtown, and others in the pipeline like the Monroe Block and the to-be-determined jail site development, the buzz downtown is palpable.
JLL Detroit Office Insight & Statistics - Q1 2019Harrison West
Over 202,000 square feet of space was absorbed in the first quarter, with notable transactions taking place in the city and the suburbs. Chicago-based Coyote Logistics made headlines with the announcement of a 58,000-square-foot lease at Bedrock’s Assembly Building at 1700 West Fort Street, bringing 500 new jobs to the burgeoning Corktown neighborhood. Google announced plans to expand their 29,000-square-foot office at Little Caesars arena.
Befut Global Inc is an infrastructure development company operating in Southeast US markets. It has completed several projects including a $2M detention center and $3M car repair facility. It plans to acquire companies with over $10M in revenue in 2018. Befut operates in the small to mid-sized project market and seeks $5M in funding for acquisitions and growth. It projects $30M, $70M, and $100M in revenue over the next three years with EBITDA of $3M, $7M, and $12M respectively. Befut aims to become a $200M company with a 1% market share in utility construction and compete with larger firms like Granite
San Diego's office vacancy rate dropped to its lowest point since 2006 as net absorption increased in Q2 2014. Class A office saw the most demand and absorption while vacancy rates vary by submarket. Rental rates increased countywide with some of the tightest markets seeing rates above $3.00 per square foot. Large leases were signed across asset classes as new supply comes online throughout the year and into 2015.
The Greater Cincinnati office market continued slowing in Q4 2012, with net absorption of -320,686 sq ft and vacancy rising to 20.03%. The Central Business District saw a small increase in positive absorption but not enough to offset the year's negative total. Most negative absorption occurred in the suburbs, pushing the suburban vacancy rate to 21.01%. Developers are starting to market and plan new construction projects as uncertainty from the previous year dissipates.
This document summarizes the state of the Miami-Dade office market in 2010 and provides a forecast for 2011. It discusses trends such as tenants moving to higher quality buildings while still being able to negotiate good lease terms. Large tenants made significant moves in 2010, increasing available sublease space. The forecast predicts continued flight to quality and slow economic recovery allowing small expansions. The document also provides statistics on vacancy rates, absorption, lease rates, and construction in different submarkets. It highlights some of the largest lease deals in 2010 and a featured property for lease.
This document provides an overview of commercial real estate trends in Miami, Florida. It discusses why many multinational companies choose Miami as their Latin American headquarters, noting the city's proximity to Latin America, international airport and consulates. The office market statistics show high vacancy rates and availability, putting downward pressure on lease rates. The top leasing activity in 2010 is listed along with the unemployment rate in Miami-Dade County of 13%. The document promotes Elizabeth Santos as a commercial real estate broker with experience representing tenants.
The Miami office market remains in flux as the local economy struggles from the housing downturn. In 2009 and Q1 2010, 2.3 million square feet of new office space was added to the market, with a total vacancy rate of 56.5%, well above the county average of 16.5%. Two new buildings delivered in Q1 2010 contributed to increased vacancy. The three new buildings in the CBD are pre-certified LEED but have high vacancy rates, reflecting reluctance of companies to commit during economic uncertainty. Landlords are pursuing LEED certification and renovations to distinguish properties.
The San Diego County office market posted strong demand in Q1 2013 with over 365,000 square feet of positive net absorption. Vacancy rates declined across most classes and submarkets. Class B properties saw particularly high demand, with 413,000 square feet of net absorption. Large lease deals included XIFIN leasing 45,000 square feet in Carmel Valley and Union Bank leasing 84,000 square feet in UTC. New supply is expected to come online throughout 2013 and 2014 from projects in Sorrento Mesa, Carmel Valley, and UTC. Opportunities exist for tenants in Downtown San Diego's 19% vacancy rate and limited prime options in high-demand submarkets.
The numbers are out, and the Tampa Bay office market started the year strong. Ever tightening vacancy and climbing asking rates could make 2018 the year we see development in downtown and the suburbs alike!
JLL Detroit Office Insight & Statistics - Q1 2018Harrison West
2018 is poised to be another great year of growth for Detroit’s office market. With transformational developments underway like the Hudson’s site downtown, and others in the pipeline like the Monroe Block and the to-be-determined jail site development, the buzz downtown is palpable.
JLL Detroit Office Insight & Statistics - Q1 2019Harrison West
Over 202,000 square feet of space was absorbed in the first quarter, with notable transactions taking place in the city and the suburbs. Chicago-based Coyote Logistics made headlines with the announcement of a 58,000-square-foot lease at Bedrock’s Assembly Building at 1700 West Fort Street, bringing 500 new jobs to the burgeoning Corktown neighborhood. Google announced plans to expand their 29,000-square-foot office at Little Caesars arena.
Befut Global Inc is an infrastructure development company operating in Southeast US markets. It has completed several projects including a $2M detention center and $3M car repair facility. It plans to acquire companies with over $10M in revenue in 2018. Befut operates in the small to mid-sized project market and seeks $5M in funding for acquisitions and growth. It projects $30M, $70M, and $100M in revenue over the next three years with EBITDA of $3M, $7M, and $12M respectively. Befut aims to become a $200M company with a 1% market share in utility construction and compete with larger firms like Granite
San Diego's office vacancy rate dropped to its lowest point since 2006 as net absorption increased in Q2 2014. Class A office saw the most demand and absorption while vacancy rates vary by submarket. Rental rates increased countywide with some of the tightest markets seeing rates above $3.00 per square foot. Large leases were signed across asset classes as new supply comes online throughout the year and into 2015.
The Greater Cincinnati office market continued slowing in Q4 2012, with net absorption of -320,686 sq ft and vacancy rising to 20.03%. The Central Business District saw a small increase in positive absorption but not enough to offset the year's negative total. Most negative absorption occurred in the suburbs, pushing the suburban vacancy rate to 21.01%. Developers are starting to market and plan new construction projects as uncertainty from the previous year dissipates.
3. FIRST QUARTER 2011 MARKET STATISTICS
OfifceNotes
Avg Asking Dir
Direct Total YTD Net Under
Submarket Building SF Lse Rate ($/SF/Yr)
Vacancy % Vacancy % Absorption Construction
Full Service Gross
Airport West 9,886,510 18.6 19.2 $24.83 (68,725) 0
Brickell 6,536,894 19.1 19.5 $35.59 7,861 614,908
Coral Gables 6,119,932 15.6 16.8 $33.40 12,008 217,276
Downtown Miami 7,605,092 20.1 20.6 $33.69 (117,957) 0
CBD Total 14,141,986 19.7 20.1 $34.58 (110,096) 605,886
Suburban Total 29,761,504 17.0 17.5 $27.37 (7,969) 217,276
Overall Total 43,903,490 17.9 18.4 $30.02 (118,0650 823,162
Class A Total 19,456,767 16.7 17.3 $36.29 (19,895) 823,162
Class B Total 18,313,879 19.7 20.2 $26.75 (99,807) 0
Class C Total 6,132,844 16.1 16.3 $22.12 1,637 0
Source: www.cbre.com/research For the full First Quarter 2011 MarketView visit http://gkc3.cbre.com
This Port trade surplus. In addition, experts believe the Deep Dredge
of Miami’s project alone will allow the Port to double cargo output and
D e e p create up to 33,000 new jobs.
Dredge To compliment the Deep Dredge project, the Port of
project Miami anticipates completing its tunnel project by Spring
has the 2014. This tunnel will provide trucks (and passengers)
potential direct interstate access between the Port of Miami and
of shifting I-395 thus enabling the Port to increase truck movements
PORT OF MIAMI’S U.S. trade
with East
to twice today’s capacity. In addition, the U.S. Department
DEEP DREDGE
of Transportation awarded the Port of Miami with a $22.7
Asia from million grant to restore rail service between the Port and
U.S. Pacific the Florida East Coast Rail Yard in Hialeah. This provides
ports to direct cargo access to the national rail system, further
Atlantic ports. If you have been following the local business enhancing our Port’s intermodal capacities. The rail project
news of late, you know that Governor Rick Scott approved is scheduled to be completed in 2013.
$77 million for the Port of Miami to deepen the channel to
minus 50 feet so larger ships can gain access to the port. “This is a solid first step toward enhancing Florida’s
The Port’s Deep Dredge project is timed to coincide with the infrastructure and getting our state ready for a new
CB RICHARD ELLIS :: MIAMI-DADE
opening of an expanded Panama Canal in 2014. There generation of international trade with South America
are only three other Atlantic Seaboard ports that will have and beyond,” said Governor Scott. As the second largest
our capabilities – Norfolk, New York and Halifax. Miami economic engine in Miami-Dade County, the Port currently
is the closest major U.S. port to the Panama Canal, so it is accounts for $18 billion in economic impact annually and
positioned as the first port of call for the next generation of 176,000 jobs. This project should solidify trade as a major
fully-laden post-Panamax vessels. business source for South Florida.
The industrial brokers in my office are thrilled. Why the
excitement? These post-Panamax ships can carry almost
PORT OF MIAMI FACTS AT A GLANCE
four times the TEU’s (20-foot equivalent units) of our • Largest container port in Florida - 807,000+TEU’S
current Panamax vessels. More cargo means more • 11th largest port in the nation
distribution space could be needed. Trade is king in Miami. • Closest US port to the Panama Canal
In 2010, the Miami Customs District produced the largest • Largest US cruise port - serves over 4 million cruise ship
passengers annually
trade surplus of any area in the nation. We exported FOUR
• Serves 20 shipping lines that call on 100 countries and 250 ports
times the national average – that’s an over $20 billion
April 2011