Daniella Aragon-Andre
Levy Public Relations

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March 16, 2023

While office buildings nationwide are struggling to lure back workers, South Florida office owners are in an enviable position, office broker Tere Blanca said.

“Because South Florida is experiencing such a constant migration of people, many companies are moving here,” said Blanca, founder and CEO of Miami-based Blanca Commercial Real Estate. “Whatever contraction we might see is mitigated by the new absorption being created by the new arrivals. So we have an offset.”

She spoke to Commercial Observer about her business strategy. This interview has been edited for length and clarity.

There’s much debate about whether workers will return to offices. What do you see happening on that front?

Tere Blanca: Depending on where you’re sitting, you’re going to get a different answer. In South Florida, we are seeing tremendous return to office, especially in finance and professional services. The parking garages are pretty full. You’re running into people all the time who are working from the office. It’s unlikely that people are going back to work five days a week, but three to four days a week has become pretty prevalent across industries. As I said back during the pandemic, the impact of COVID and hybrid work would take a fairly long period of time to express itself. Leases are typically longer-term commitments, and it takes time for companies to evaluate their needs. You’re going to see this evolution of how companies are choosing to retrofit their spaces and expand their spaces.

Whatever is available is getting leased, oftentimes by companies that are new to the area. We are sitting in a unique position compared to New York, San Francisco, Los Angeles and Chicago. These are all cities that are spectacular and have great things to offer. But, as of late, we are seeing that Florida is preferred, given its business-friendly environment and not having a state income tax. Miami is officially a gateway city from an institutional standpoint.

The official vacancy stats look good. But as you mentioned, office workers no longer are in the office every day.

In any specific building, the occupancy in Miami is above 50 percent and as much as 75 percent full on any given day. Even before COVID, when a building was 100 percent leased, you never had 100 percent of the population there all the time. Some people would be traveling. If we’re now at 50 percent to 70 percent, we’re not in a terrible place. We’re actually at a pretty normal level.

What’s your biggest challenge?

Having spaces completely ready for occupancy. There are companies of all sizes moving here that want to take occupancy the minute they sign the lease. And the municipalities throughout Miami-Dade

county are very busy, and it’s taking longer than it has in the past for certain municipalities to release epermits. Various municipalities really need to figure out how to expedite the process for buildouts to be completed on time. There’s probably 100 companies right now in the market that need 2,500 to 5,000 square feet.

We’ve heard a lot about the popularity of downtown locations and amenity-rich buildings. What kind of office space do tenants want?

Initially, tenants were focused on Brickell and Downtown Miami. But as the people behind those space needs started to understand the market, we are seeing interest and absorption in markets like Coral Gables, Aventura, which has a new Brightline station, and the Waterford Business District, which is right across from Miami International Airport. Our team is just incredibly busy working with all the tenants that want to be there. Fort Lauderdale also is experiencing really strong absorption.

How has the industry changed during your career?

The commercial real estate industry in my opinion always has lagged in adopting new technologies. The arrival of proptech has been impactful and has provided us with transparency we previously didn’t have. Artificial intelligence also allows us to aggregate data in ways that weren’t possible before. We can give insights that previously would have taken months now with the push of a button. It’s an exciting time to leverage all of these technology tools. With VTS, you can view every lease term of every lease transaction. There are some very disruptive tools. It’s a very exciting time for the industry.




Daniella Aragon-Andre
Levy Public Relations

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Before concrete and steel’s arrival 150 years ago, wood represented the leading building staple. Today, with the advent of ultra-strong, safe mass timber, what’s past is prologue. The era of the ever-taller timber commercial building has arrived.

Mass timber’s acceptance is being propelled by multiple factors, with sustainability and decarbonization of the built environment among the most prominent. Many developers, owners and tenants are determined to cast their lot with sustainable structures.

“Many have climate commitments and climate pledges driving their sustainability interests,” Lauren Wingo, project lead on Washington, D.C.’s 80 M, designed by global sustainable development consultancy Arup, told Commercial Property Executive. At 10 stories, 80 M is the tallest mass timber office building developed to date in the U.S., she said.

Quicker, safer construction projects are another upside, said Cody Armbrister, head of development, office, with real estate development and investment firm Crow Holdings. Components are prefabricated offsite. “There are fewer people onsite, so you’re able to move faster, move safer. That speed is a critical advantage of mass timber,” he said.

The Offices at Southstone Yards

The Offices at Southstone Yards. Image courtesy of Crow Holdings

An improved user experience for tenants is still another positive, Armbrister said. Use of natural materials in biophilic design has been shown to hike productivity, reduce stress and absenteeism and promote healthier environments. This goes along with a flight to quality in post-COVID office space. Office tenants may now be leasing less space, but seeking more distinctive and attractive space, Wingo said.

Alan Kennedy, managing director of Hines, which created its proprietary mass timber product T3 more than a decade ago, agreed wood creates distinctive environments.

“Wood is a natural material, and it evokes a different emotion in people when they tour the building,” he commented. “Most visitors immediately walk to one of the mass timber columns to touch it. There is a scent and a quietness that embraces you in a mass timber building. People’s reactions to timber are very powerful.”

Vaulting hurdles

The 2021 International Building Code (IBC) permits up to 18-story timber buildings. But not every city is on board. “Depending on the municipality, you may get one that understands what mass timber is, or one operating on a 2015 IBC,” Armbrister said.

One municipality that appears onboard is the District of Columbia. ARUP regarded D.C. as one of its project partners in developing 80 M, Wingo said. The district was engaged during the design process, and worked alongside ARUP to address safety concerns.

While some municipalities remain concerned about fire, “there are no challenges from a fire standpoint,” Armbrister said. “It’s more fire-retardant than traditional steel. Fire is given fuel by the timber. But when the timber’s laminated, the outer layer snuffs out fire’s ability to continue. Steel just continues to burn until it returns to its original state.”

The grid layout of floorplates may be seen as a mass timber design challenge, Wingo said. A roughly 30-by-30-foot column grid is common in commercial offices. In mass timber buildings, columns are more closely spaced, at roughly 20 by 30. “That is harder to work with for tenants,” she said. “It changes how you lay out the space.”

The Offices at Southstone Yards

The Offices at Southstone Yards. Image courtesy of Crow Holdings

Timber may also be saddled with costlier insurance premiums, Armbrister said. Because mass timber structures are limited in number, insurers don’t have a body of evidence to cite in determining how buildings perform over a 10- or 15-year period. “There’s some reticence on the part of insurance carriers,” he said. “With perceived risk can come inherent additional insurance premium costs.”

Availability of product may represent one more concern, said Danny Harrington, director of innovation for development consultant Project Management Advisors.

Mass timber has been used in Europe and Australia since the 1980s. “But there’s not a lot of production in the U.S.,” he said. “Where it’s been successful, there’s been cooperation between the development, construction and forestry industries.”

Design trends

Within T3 buildings, including seven-story T3 Minneapolis, the first major multistory U.S. office building built of wood in a century, Hines uses the timber structure as the finish. “Tenants do not feel the need to change the base condition,” Kennedy said. “A concrete building can be that way, but timber has a warmer feel and a different comfort level than concrete, which tends to feel sterile and cold. With tenants, just complementing the space with their own furniture, the condition requires less modification—and wasted materials going to a landfill—for the next tenant.”

2021 International Building Code types

2021 International Building Code types. Image courtesy of ARUP

In the case of high-rises, defined as higher than 85 feet, architects and developers are trying to find ways to use more contemporary skin, rather than a punched, masonry-like expression, Armbrister said. “Architects must ask, ‘Where do we accentuate the timber, and where do we wrap it in non-combustible material like sheetrock?’” he added.

“It has to do with the ability of municipalities to fight fire at higher heights.”

There are several exceptions to the 2021 IBC, Kennedy said. While Type IV-A calls for all mass timber elements fully encapsulated, and up to 18 stories, Type IV-B calls for protected exterior, partially exposed interior mass timber elements, and up to 12 stories. Type IV-C calls for protected exterior, exposed mass timber interior, and up to 9 stories. Some jurisdictions may impose not just height limits but restrictions like requiring percentages of the timber to be encapsulated, not exposed.

What’s ahead? Recognizing the urgency associated with the 39 percent of global CO2 emissions derived from developing and operating buildings, Hines is considering incorporating its T3 platform in industrial and residential platforms as well as office projects. Wingo envisions a future delivering more competitive markets for mass timber, reducing the material’s current cost premium.

“It’s a construction type here to stay,” Armbrister concluded. “Headwinds and challenges associated with a perceived new product type will dissipate. You’ll see mass timber in more buildings of all asset classes. The modularization of these buildings, and the idea so much of them can be built off-site, really has people excited.”


Nestled north of Miami between Aventura and Hollywood, about 20 minutes from Fort Lauderdale-Hollywood International Airport, the quiet 4.4-square-mile coastal town of Hallandale Beach is having its moment.

A cool billion dollars’ worth of new development is ongoing in the city, reports the Hallandale Beach Community Development Agency. Along with its popular sandy beaches, acclaimed dining and lively nightlife scene, the town has rolled out a wave of upscale residential developments.

The result: A hitherto little-known town has begun to appear prominently on the radar of investors, luxury home buyers and jet setters across the globe. It’s all quite a change for a city that didn’t even settle on its current name until a few months prior to Y2K.

A look at the particulars of this development boom begins at Slate Hallandale Beach. Delivering New York City-like style to Southeast Florida, the 26-story high-rise was developed by Ari Pearl’s PPG Development.

Part of a half-billion-dollar makeover of the Diplomat Golf Resort & Tennis Club to include a hotel and new Greg Norman-designed 18-hole golf course, Slate established a new benchmark for rental developments in Hallandale Beach. It features more than 20,000 square feet of amenities, including tennis courts, golf simulator, wine cellar with personal storage for residents, concierge, valet and fully loaded fitness facilities with Pilates equipment, Hydrow rowers and more.

“Hallandale Beach has always been a desirable location full of possibility,” Pearl says. “But [it] never had a development of this caliber, offering expansive, resort-inspired amenities and stylish modern residences combined with the convenience and flexibility of living in a rental community.”

Classy condominiums

Along with this trend-setting rental development, Hallandale Beach also offers options for luxe condominium buyers

For instance, KAR Properties’ 38-story glass tower called 2000 Ocean, situated just north of South Florida’s Golden Beach, features multimillion-dollar full- and half-floor oceanfront homes incorporating three to five bedrooms. Set off by fountains, a waterfall and spectacular frondescence, Hallandale Oasis fills a full city block, offering a live-work-play setting combining 250 luxury condominium residences and more than 50,000 square feet of new commercial space unveiled last year.

Renters and buyers of upscale homes are of course eager to sample their home turf’s entertainment scene. So the city has taken the wraps off a few new glittering restaurant and nightlife concepts.

Breakwater Hospitality Group’s tented and open-air Carousel Club, featuring an emerald garden for lounging and lawn games, represents the newest entertainment mecca in Hallandale Beach. ETARU, a second-story restaurant, bar and terrace from Zuma restaurants’ creator Rainer Becker, serves up contemporary Japanese robatayaki grill cuisine to go with a panorama of dramatic waterfront views.

Time to unwind

The Hallandale beachfront has long given folks plenty of opportunity for relaxation and recreation. Soon they’ll have more. The new Greg Norman-designed 18-hole golf course will center a 127-acre development featuring an exclusive country club, luxury residences and a resort. The new Golden Isles Tennis Center will offer four clay and six hard tennis courts, four pickleball courts, two bocce courts and two basketball courts.

And as office tenants continue to pursue a post-Covid flight to higher-quality Class A buildings, they are enjoying new options in Hallandale Beach.

With Blanca Commercial Real Estate as its leasing representative, Optima Onyx, the newest tower in the city’s three-tower state-of-the-art office development known as Optima Towers, has become home to investment management firms, banks and medical office companies, among others.

Put it together, and you have today’s Hallandale Beach, Fla. Given all the town has going on, it looks like those quiet 4.4 square miles won’t be quiet much longer.



Daniella Aragon-Andre
Levy Public Relations

Full Article

One of Miami’s most in-demand neighborhoods is getting a welcomed dose of modern office space. The Offices at THE WELL is part of a new mixed-use development set to rise in Miami’s exclusive Bay Harbor Islands neighborhood, becoming the first high-end office building to launch in the community in decades. Developed by Miami-based Terra, THE WELL Bay Harbor Islands development will include 98,420 square feet of class AA office space, 54 luxury residences, 11,000 square feet dedicated to an integrated wellness experience operated by New York-based wellness company, THE WELL, and a 6,500 square foot signature food and beverage outlet, complete with an expansive rooftop with amenities, garage parking and an elevated plaza. Construction is scheduled to begin in Q1 2023, with completion anticipated in late 2024.

Located at 1177 Kane Concourse, The Offices at THE WELL Bay Harbor Islands will meet growing demand for high-end boutique office space as residents and companies continue to gravitate to South Florida, while reinvigorating Bay Harbor’s iconic Kane Concourse main thoroughfare.

THE WELL New York opened in 2019 as a luxury health and wellness destination that offers clients a range of holistic healthcare services – from Eastern healing practices and Western medicine – including fitness classes, yoga and meditation, acupuncture, sound therapy, spa treatments, and access to the top practitioners in functional medicine and beyond. Since its New York City launch, the brand has expanded with additional locations in Connecticut with THE WELL at Mayflower Inn, and Costa Rica with THE WELL at Hacienda AltaGracia. THE WELL Bay Harbor Islands will become the company’s first Florida location.

“THE WELL Bay Harbor Islands will be a premier address for working, living and wellness just as Miami enjoys a surge of new residents and businesses,” said David Martin, CEO of Terra. “The Offices at THE WELL will be an ideal option for companies looking to incorporate wellness into the workplace, with tenants being able to access all of the exclusive benefits of THE WELL’s curated programming and wellness center.”

Designed by Arquitectonica, with interiors by Meyer Davis, the Offices at THE WELL will reimagine the traditional office lobby into a programmed social space for tenants featuring food and beverage service, unique gathering spaces, and the ability to book THE WELL micro treatments. The development will include four floors of office space complemented by a grand lobby and a rooftop amenity deck, with on-site amenities such as a social lobby and café with comfortable lounge areas, where coffees, juices, and culinary treats can be enjoyed and ordered via text for quick, convenient service. For an outdoor work experience, tenants will have access to greenhouse-style work pods as well as a rooftop level with outdoor meeting areas and community gardens. Office users will also benefit from additional outdoor experiences at an elevated landscaped Plaza, a controlled access parking garage, office valet, and state-of-the-art security.

Office tenants will receive a discounted membership to The Club at THE WELL Bay Harbor Islands, which will include a state-of-the-art fitness and wellness center, as well as full-service concierge services from THE WELL Team, dedicated private outdoor and indoor classes, access to annual health coaching sessions to guide tenants in creating individualized wellness plans, preferred pricing on treatments and services, and exclusive benefits across THE WELL locations globally.

Terra has enlisted a best-in-class team to represent The Offices at THE WELL Bay Harbor Islands, with the Blanca Commercial Real Estate team of Tere Blanca, Danet Linares, Christina Jolley, and Nicole Kaiser leasing the building’s office space.

“Today’s office users are placing emphasis on planning and building custom-designed space in areas that are walkable, accessible to shopping and housing, and which offer on-site outdoor recreation. The Offices at THE WELL Bay Harbor Islands checks all of these boxes – and more,” explains Tere Blanca, CEO of Blanca Commercial Real Estate. “The Offices at THE WELL’s superior technology systems, sustainability initiatives, private rooftop space, and exclusive on-site access to THE WELL and its network of health and wellness destinations globally are appealing to firms looking to establish their presence in one of Miami’s most sought-after neighborhoods.”

Bay Harbor Islands is an exclusive community made up of two islands connected by the Kane Concourse/Broad Causeway bridge, which also leads to Bal Harbour, Surfside and Miami. Other nearby neighborhoods of interest include Indian Creek and Sunny Isles on the Atlantic side, and Sans Souci and Miami Shores to the west. Bay Harbor Islands has its own elementary school, the Ruth K. Broad Bay Harbor K-8 Center, which is consistently rated among the top public schools in the county, along with three neighborhood parks, a tot-lot playground, outdoor fitness space, public tennis courts, a community center, and an assortment of independent shops, galleries, bistros, and professional offices.



Daniella Aragon-Andre
Levy Public Relations

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The number of companies looking to participate in the Miami business boom is growing again, as two more service firms announced new offices in the Magic City this week.

Omni Bridgeway, an Australian litigation financing firm, said on Tuesday that it is expanding into the Miami market, hiring Lauren Alexander from Weil Gotshal & Manges LLP as an investment manager and head of the new office, according to a press release.

Alexander and Enrique Molina are the firm’s first two local hires. It is “actively looking for office space” that will help the firm grow organically, a spokesperson said. Omni Bridgeway provides financing and risk management services for litigation and is publicly traded on the Australian Securities Exchange. It is also opening a Chicago office.

The Consello Group, a New York-based financial services company that launched last year, also announced its plans for a Miami outpost Tuesday. The company issued a press release that said it would be establishing offices in Miami and London, and “several senior executives and additional employees” would relocate to the cities.

Consello invests on behalf of clients and offers business development services and advises on digital asset strategy, the press release says. A Consello spokesman didn’t respond to an inquiry about the new office’s size or location.

“As we continue our global expansion, it is essential that we have a strong presence in the locations most important to our clients,” Consello Chairman and CEO Declan Kelly said in a statement. “Our office in Miami will tap into the burgeoning financial and business activity in South Florida that has seen such rapid growth in recent years.”

Miami-Dade County expects to welcome 150 new companies to the market this year, according to the Miami-Dade Beacon Council’s annual report published in November. That would be an enormous jump from the 57 companies that either relocated or expanded to the county in 2022. Combined, those companies committed to occupying more than 1M SF of commercial space.

The local office market has benefited from the unprecedented run-up in demand. Asking rents were up 14% year-over-year in Class-A space across the entire city in the fourth quarter, according to CBRE. In Brickell, which is capturing more of the migration than any other submarket, Class-A asking rents hit $88.83 per SF in the fourth quarter, a 33% increase, according to Blanca Commercial Real Estate data provided to Bisnow.

Miami saw 1M SF of leasing activity in the quarter and a record 4.3M SF of leases signed in 2022, 811K SF of which are to be occupied by new-to-market tenants.



Daniella Aragon-Andre
Levy Public Relations

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A local proptech company just relocated to a larger office space in South Beach.

In January, DoorLoop took over the entire second floor of Lincoln Place, a 139,887-square-foot building at 1601 Washington Avenue. The 8,142-square-foot space will hold more than 60 people working in the areas of tech support, account management, marketing, development, customer service, migration, HR, recruiting, accounting, and more, said Caraline Harwood, DoorLoop’s operations manager.

DoorLoop was previously located in a 3,000-square foot space at 560 Lincoln Road in Miami Beach

Harwood said the company relocated to Lincoln Place because it provides enough room for the company to grow. The building was also in an area already familiar to DoorLoop’s existing employees, and it’s is a prime location to help attract additional talent, she added.

DoorLoop was represented by Tyler De la Pena and Stephen Rutchik of Colliers. Lincoln Place’s landlord, Nightingale Properties, was represented by Chris Harak, Sky Jones, and Tere Blanca of Blanca Commercial Real Estate.

Founded in 2019, DoorLoop provides an automated management process for landlords that includes listing units, rent collection, and maintenance. It has raised $30 million from venture capitalists so far, including $20 million from Alpine Software Group last September.

Miami Beach’s office market has attracted a lot of interest from financial services companies as well as tech companies. The leasing activity has been driven by business owners who live in Miami Beach and don’t wish to commute from other areas, brokers have told the Business Journal.

Although technically owned by the City of Miami Beach, Lincoln Place’s long-term lease was purchased by Nightingale Properties for $80 million in December 2016.




Daniella Aragon-Andre
Levy Public Relations

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Nuveen Real Estate, Allianz Real Estate, Blanca Commercial Real Estate, Cushman & Wakefield and Strategic Access Group have jointly announced that WRC Properties, as developer, has appeared before the Miami-Dade County Board of County Commissioners and successfully amended its development entitlements, modifying the previously approved Waterford Business District Development of Regional Impact permitted uses.

Waterford Business District now offers a build-to-suit opportunity in its additional 29 acres of land fully entitled to accommodate up to 1.6 million square feet of additional office space inclusive of parking, 800 units of multi-family (including a minimum of a 10% allocation to workforce units), 30,000 square feet of retail space, 500 restaurant seats, and a 10,000 square foot health club. Additional daycare offerings are also possible.

Waterford Business District is adjacent to Miami International Airport. It is currently home to more than three million square feet of office space, nine hotels, 272 residential units and a new retail center. Leasing is led by Blanca Commercial Real Estate.




Daniella Aragon-Andre
Levy Public Relations

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December 16, 2022

Tras las restricciones y cierres de los dos últimos años, las empresas están regresando de nuevo a las oficinas, dando un nuevo aspecto a los edificios corporativos que antes tenían un perfil “tradicional”, con cubículos, despachos cerrados y salas de reuniones. Este proceso está liderado, en parte, por empresas que fueron a contracorriente de la actividad económica y crecieron en medio de la crisis, como las tecnológicas, las sanitarias y las de asesoramiento financiero, aportando motivación al sector, que cuenta con ello para seguir reduciendo la tasa de desocupación de la industria en todo el país.

Con la decisión de algunas grandes empresas de trasladarse a Miami, submercados como Wynwood se están convirtiendo en nuevos puntos calientes del mercado. Wynwood ha estado atrayendo a clientes de renombre como Spotify, Live Nation, Chase, BlockChain, y más, debido a la fusión de arte y tecnología que está cambiando el paisaje cultural de la zona. Wynwood cerró el segundo trimestre con una media ponderada de 75,51 dólares por pie cuadrado para espacios de clase A y B, lo que supone un aumento del 19,3% interanual.

Para Tomas Sulichin, Presidente de la División Comercial en RelatedISG: “El aumento de la actividad de arrendamiento, la cantidad de empresas de renombre que se han mudado a la ciudad y la oleada de nuevos desarrollos en Miami, mantuvieron el mercado de oficinas robusto y allanaron el camino para un mayor crecimiento, ya que muchas empresas ampliaron sus oficinas y se adaptaron a la “nueva normalidad” y a la demanda de los empleados de espacios de calidad”.

Debido a este gran auge, se han propuesto varios proyectos comerciales para dar cabida a la alta demanda. Entre ellos se encuentran: One Brickell City Centre en Brickell, 700 N. Miami Avenue, el proyecto de Witkoff Group en Downtown Miami, Wynwood Plaza en Wynwood, y The URSA en el Design District.

En la actualización del último reporte del segundo trimestre del 2022 hecho por Blanca Commercial Real Estate, destaca que las principales industrias que buscan espacios de oficinas son las empresas de servicios financieros. Además, la firma ha observado que el mercado de oficinas de Miami sigue mostrando un crecimiento positivo en comparación con otros mercados metropolitanos importantes, debido a las consecuencias económicas de la pandemia.

Dado el continuo atractivo de Miami como destino ideal de oficinas para empresas nacionales e internacionales, también se anunciaron varios desarrollos importantes de oficinas de alta gama, ya que los promotores tratan de captar la demanda y satisfacer las necesidades planteadas por estas empresas. “Durante el año pasado, la calidad se mantuvo al frente de todos los movimientos importantes de oficinas y el aumento de la demanda de nuevos mercados se tradujo en el rendimiento estelar de los nuevos desarrollos de oficinas y el espacio de oficinas de clase A existente de primer nivel”, asegura Tere Blanca, CEO y fundadora de Blanca Commercial Real Estate. “Existe una buena oferta de nuevas oficinas a través de los centros de negocios en evolución de Broward que ha sido bien recibida tanto por los nuevos participantes en el mercado como por las empresas establecidas que buscan entornos de oficinas de calidad que sirvan como una herramienta para reclutar y retener el talento.”

Actividad de arrendamiento:

• Se espera que la actividad de arrendamiento siga siendo fuerte en los próximos trimestres y probablemente supere los resultados de años anteriores.

• Hasta la fecha, la actividad de arrendamiento ha alcanzado un total de 1.95 millones de metros cuadrados, lo que supone un aumento del 39% con respecto al primer semestre de 2021

• La velocidad de arrendamiento se aceleró desde el inicio de 2022, con transacciones completadas por un total de 991,000 metros cuadrados firmados en el segundo trimestre.

• Los nuevos inquilinos del mercado contribuyeron con 168,000 pies cuadrados de actividad de arrendamiento este trimestre y han representado el 15% de la actividad de arrendamiento total en la primera mitad del año.


• La afluencia de nuevos inquilinos al mercado en todo Miami-Dade, junto con la continua actividad de arrendamiento de la base de inquilinos existentes, ha hecho que los propietarios continúen presionando las tasas, especialmente en los productos de Clase A.

• Con una fuerte actividad de arrendamiento y una nueva oferta controlada, se espera que los precios de los alquileres en toda la región sigan aumentando a medida que el espacio disponible sea más escaso, y que se entregue al mercado un nuevo producto de alta calidad con un pre-arrendamiento sustancial.

• El precio medio ponderado de venta terminó el trimestre en 47.51 $ SF para la Clase A y B combinada en Miami-Dade, un aumento del 2.2% sobre el trimestre anterior, y un aumento del 9.5% desde el segundo trimestre de 2021.

• El aumento fue impulsado en gran medida por los productos de Clase A, donde las tasas de alquiler han aumentado casi un 10% YOY a $ 55.12 por SF.

Por: Andreina Castro

Mayores informes en: www.levypublicrelations.com

Este es un fragmento del artículo de la edición 134 Miami y Fort Lauderdale: los mercados de oficinas más buscado en Estados Unidos  https://inmobiliare.com/inmobiliare-134/ 

*Nota del editor: Las opiniones aquí expresadas son responsabilidad del autor y no necesariamente reflejan la posición de Inmobiliare.



Daniella Aragon-Andre
Levy Public Relations

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December 16, 2022

A new Class-A, 387,402-square-foot building in downtown Fort Lauderdale is now 100% leased after two contracts totaling 7,601 square feet recently closed.

One of those lease deals will expand the office footprint in that building of a large Florida law firm that was founded in Miami in 1910.

Shutts & Bowen added 3,670 more square feet to its future office branch in The Main Las Olas at 201 E. Las Olas, increasing the size of its office on the 22nd floor to 14,620 square feet.

The firm originally closed on a deal to occupy 10,950 square feet of office in April, but opted to upsize to ensure a comfortable environment for its attorneys and staff and have enough room for new attorneys and lateral partners who want to join Shutts & Bowen, a spokesman said.

“Shutts continues to be optimistic in South Florida,” Adam Miller, marketing director, stated in an e-mail.

Headquartered in Downtown Miami, Shutts & Bowen employs 300 attorneys in offices throughout Florida. The firm will be moving its Fort Lauderdale branch out of its 15,000-square-foot office of 24 years at 200 E. Broward Blvd. and into The Main Las Olas in March 2023.

Shutts & Bowen was represented by Zach Wendelin and Kevin Probel of CBRE. Danet LinaresTere BlancaChristina Jolley, and Sky Jones of Blanca Commercial Real Estate represented The Main’s landlords, Stiles and Shorenstein Properties LLC.

In addition, Blanca Commercial Real Estate team represented The Main in direct negotiations with Salt Lake City-based Zions Bank (Nasdaq: ZION) for its 3,931 square feet of office. The bank will relocate from a temporary co-working space to The Main Las Olas in the first quarter of 2023, a spokeswoman for Blanca Commercial Real Estate stated.

Finished in July 2021, the 25-story Main Las Olas is a 1.4-million-square foot complex built by Fort Lauderdale-based Stiles and San Francisco-based Shorenstein on 2.7 acres of land leased from Broward College. Besides the 387,000-plus-square-foot office component, Main Las Olas has 341 apartment units, 17,355 square feet of retail, a 2,951-square-foot fitness center, a 3,360-square-foot office lounge and conference center, and an outdoor terrace with a fire pit, bar, and a glass floor oculus with panoramic views of the ground below.

The Main Las Olas has the highest asking rents in Broward County, the Blanca Commercial Real Estate spokeswoman said. As of April its asking rents for office ranged from $48 to $50 a square foot, not counting property assessments, utilities, and other expenses.

Leasing the largest space within The Main Las Olas is RSM US LLP, an audit, tax, and consulting firm. RSM secured the entire top floor of The Main’s office building earlier this year. RSM is due to move into its 16,570-square-foot space in the first quarter of 2023.

Other companies that have leased space within Main Las Olas include JPMC, Marcum, Starr Indemnity, Raymond James, Cherry Bekaert, Synovus Bank, Walker Dunlop, and Starboard Value.

Since the pandemic, local and new-to-market companies have sought quality office space in South Florida, which resulted in higher asking rents and dropping vacancies, brokers have told the Business Journal. Although there is concern that the overall economy may slow the pace of deals, companies continue to move to the region.



Daniella Aragon-Andre
Levy Public Relations

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December 16, 2022

Miami, Dec 16 (EFE).- Inflation and rising interest rates will affect the South Florida real estate market in 2023, but it will still remain strong thanks in part to foreign buyers, mainly from Latin America, which in 2022 were number one, according to specialists consulted by EFE.

“The general rise in prices, a lower flow of money and mortgages at 6.5% slow down the real estate boom that took place during the pandemic a bit, but the sector “will continue to be strong in 2023 and many people in the US, Latin America and Europe will want to keep coming,” Jennifer Wollmann, from the real estate firm Berkshier Hathaway, from EWR Realty, told Efe on Friday.

Housing inventory in South Florida remains tight, but the rise in prices for single-family homes, townhouses, and condominiums (apartments) is slowing.

“It’s not that prices go down, but that they level out,” Wollmann said, in part because “offers” for home purchases have loosened, that is, “if before there were 10 offers at the same time to get hold of the same house, now there are 2 or 3”, he clarified.


“But the market is not going to stop. People continue to buy, “especially in the luxury real estate sector (from $1 million), where interest rates don’t matter because they pay in cash, without asking for a mortgage,” he said.

In addition, he adds, the wave of populist left-wing governments in Latin America and the crisis and instability in the region continue to encourage the outflow of capital and investment in South Florida.

In its report on foreign buyers in 2022, the Association of Realtors of Miami highlights that they bought residential properties worth 6.8 billion dollars, 34% more than in 2021 (5.1 billion).

Argentines, with 16% of purchases made by foreigners, Colombians (13%), Peruvians (8%), equal to Canadians), Venezuelans, Mexicans, Chileans and Brazilians (6% each) and French and Italians ( 3% each), were the biggest buyers this year.

For Stephen Bittel, general manager of the Terranova Corporation agency, the year 2023 “will be the story of two cities: Miami and Austin (Texas)”, cities that will continue to surpass the nation, while New York, Chicago and San Francisco will continue to suffer exodus of population and companies.

Not unique to South Florida in the US, the influx of new residents to this region is putting increasing pressure on affordable housing.

“In order to solve this serious problem, effective solutions and manpower are needed,” something that “represents an opportunity for the public and private sectors to work together,” said Tere Blanca, founder of Blanca Commercial Real Estate.

Blanca, like Bittel, warned of a possible “recession for next year”, with a “construction stoppage” due to the rise in interest rates and “increased construction costs”.

In a probable scenario for 2023, experts agree that buyers and sellers will find a “more stable market” with “better financing conditions and a slight increase in inventory” of housing.

While Wollmann cited Miami, Palm Beach and Broward, as well as Orlando and Tampa, as the areas of South Florida that most appeal to buyers, Tomas Sulichin, president of the Commercial Division of Related ISG Realty, noted that the North Miami, Hallandale Beach, Hollywood and Little Havana “will be in the spotlight as the major metropolises become overcrowded.”

Craig Studnicky, CEO of the firm ISG World, finds it unlikely that the recession will affect the real estate sector in South Florida in 2023, which is driven by “the constant influx of new residents” and companies.


In 2021, 122 companies moved their headquarters to Miami or opened offices in this coastal city, resulting in the arrival of thousands of new residents looking for housing, “a trend that is likely to continue in 2023,” Studnicky said.

Experts agree that the market is showing no signs of cooling off, despite rising mortgage rates. Home prices aren’t going down, especially since the population in South Florida continues to grow so fast and fast.

In the opinion of Michael Taylor, president of the construction company Current Builders, Florida “will continue to be a real estate hot spot” in 2023, with a sector that “has been booming since the pandemic” and that “will not experience a slowdown” at the rate of other US states

“High demand continues, as does the influx of new residents” to the state of Florida, “the opposite of what is happening nationally,” Taylor said.