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Daily Business Review

Virginia Key Marina Proposal Could go to ballot in November After Eleventh Circuit Ruling

"The courts are open, and the court will apply laws that are to some extent favorable to cities, but ultimately, if you've got a strong case, don't be afraid to have your day in court," said attorney Kendall Coffey, of Coffey Burlington.
4 minute read

Daily Business Review

Despite Slowdowns Last Year, Hotel Sales in Miami Start 2023 With Record-Breaking Pricing

"Miami and Phoenix are two great examples of growing markets where year-end 2022 RevPAR has far exceeded 2019 performance by 24% and 19%, respectively," said Melvin Chu, executive vice president of JLL Hotels & Hospitality Group.
3 minute read

Daily Business Review

Rising Investor Interest in Marinas Helps Drive South Florida's Booming Marina Industry

"I think over the next 10 years you're going to see a lot of redevelopment of marinas," Victor Ballestas, of Integra Marinas said.
2 minute read

Daily Business Review

Class A Office Complex in Miami's Wynwood District Refinanced For $113M

"Our relationships with the lending community and the strength of this asset helped us secure one of South Florida's largest office refis in recent times," said senior managing director Charles Foschini of Berkadia South Florida.
2 minute read

Daily Business Review

Special Report: Tenants Are Leasing the New Buildings, but Can Lenders' Concerns Slow Demand?

"Their credit could be deteriorating as we see a lot of people in the tech and financial services sectors laying people off," Suzanne Amaducci-Adams, head of Bilzin Sumberg's real estate practice, said. "When you lay people off ... it means you're concerned about finances and you're cutting costs, and when you're cutting costs, does that mean you're also going to cut office space?"
5 minute read

Daily Business Review

Special Report: Wave of New-to-Market Tenants Not Over as Class A Office Demand Surges

"There's over a million square feet of space currently that has been leased that is currently under construction and being built out right now," said Brian Gale, vice chairman of Cushman & Wakefield. "Where the tenants haven't even taken occupancy of that space, there's a whole other wave of people that are coming down who are going to be filling up those offices."
6 minute read

Daily Business Review

Special Report: Companies Reevaluate Office Space Needs Amid Shift to Remote Work Trend

"The overall economy definitely impacts us and is a challenge for us moving forward. But, South Florida has proven to be differentiated from a lot of other markets across the country," said Steven Hurwitz, managing director at JLL.
4 minute read

Daily Business Review

South Florida Banks Pull Back on CRE Loans. How Will Borrowers Get Funding?

"We're seeing a lot of assets not trading," said Brett Forman of Forman Capital. "A lot of assets that want to go vertical with construction are not being able to get nearly the kind of construction advancing that was available a year or two ago."
4 minute read

Daily Business Review

Class A Industrial Warehouses in High Demand in Palm Beach County as Inventory Dwindles Further South

South Florida businesses are likely to scale further north as industrial inventory dwindles, further strengthening an outlook for stable rent growth.
3 minute read

Daily Business Review

Bay Harbor Islands Set to Get First High-End Office Building in Decades

The Offices at THE WELL Bay Harbor Islands, located at 1177 Kane Concourse, will include a rooftop with amenities, garage parking and an elevated plaza.
3 minute read

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