Miami Heads to icy Northeast to lure businesses

By: Catherine Lackner

Miami News Today

Representatives if Miami’s Downtown Development Authority, the Beacon Council, and the Greater Miami Convention and Visitors Bureau were schedules to venture to the frozen Northeast (temperatures predicted in the 20s and 30s) this week to pitch Miami’s case.

 

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Downtown Miami’s office market is diversifying: That’s good news for our local economy

By Danet Linares
January 25, 2019

Miami’s pursuit of Amazon thrust our region’s technology sector to the forefront, but new data from the Miami Downtown Development Authority indicate that tech companies have been eyeing our urban core as a viable home base for years.

The DDA’s newly released office sector survey, which tracked market activity over the past five years, found that 72 percent of all new-to-market technology firms coming to Greater Miami are settling in Downtown.

This metric is just one example of how our region’s largest office market is becoming more diverse as new industries set their sights on our city, lured by favorable demographics, an improved transit system, a variety of housing options, and significant cost advantages compared to other gateway cities.

Our Downtown office market comprises more than 22 million square feet of rentable space, amounting to Florida’s most significant employment hub and one of its primary economic engines. All told, over 250,000 people spend their weekdays in our urban core — more than ever before.

A quick survey of the market’s tenant list is a “who’s who” of the business world, with brands like Royal Caribbean, JP Morgan Chase, HIG Capital, Fortress Investment Group, Mastercard, Facebook and Porsche calling Downtown Miami home.

The Downtown office market has historically been dominated by a handful of sectors, most notably law and professional services, real estate, and banking and finance. In fact, Downtown is home to the highest concentration of financial institutions in the United States outside of New York, including 60 international banks, 100 alternate investment firms, and regional headquarters for four of the world’s largest accounting firms.

While these industries still occupy most of the space in Downtown, the DDA study found that our tenant base is becoming more varied. Notably, the past few years have seen an uptick in the number of tech, hospitality and media companies leasing space. Together, these three sectors have accounted for 38 percent of all new-to-market leases signed since 2013.

Recent examples of tenants that have relocated to Downtown from out-of-town or from other markets in South Florida include the CONCACAF soccer association, Cisneros, Google, Uber, Viacom/MTV, and I-Squared Capital. Two of the country’s largest operators of co-working space — WeWork and Regus — are also expanding in our Downtown.

Given Downtown Miami’s evolution from a 9-to-5 business district into a thriving 24/7 residential and commercial neighborhood over the past decade, these dynamics shouldn’t come as a surprise. For the first time, our urban core offers companies and their employees a walkable district that is densely populated and home to a range of housing, dining and entertainment options.

These factors are becoming more important as employees gravitate toward job opportunities in close proximity to their home.

A series of improvements in the urban core — from new transportation options and public parks, to the debut of cultural outlets and improved pedestrian access — have coincided with stability in the office market. Average occupancy levels, rental rates and tenant renewal rates are at their highest points in years, driven by pricing that remains well below that of places like New York, Washington, D.C., and San Francisco.

There’s reason for continued optimism.

The launch of Virgin Trains’ service into Downtown in 2018, coupled with the planned connection to Tri-Rail this year, will make commuting from points north even easier while significantly broadening our workforce.

Few downtowns in the country can compete when it comes to location. From an accessibility standpoint, office users are placing immense value on the fact that our Downtown is right off I-95, minutes away Miami Beach and Miami International Airport, and adjacent to PortMiami.

The advent of new arts and culture venues within the past decade has greatly enhanced quality of life in Downtown, with the Adrienne Arsht Center, Pérez Art Museum Miami, Frost Science Museum, and ArtMiami earning high praise among companies surveying the market.

Likewise, mixed-use developments such as Brickell City Centre, MiamiCentral and Miami Worldcenter are enhancing Downtown’s stature as a shopping, dining and entertainment destination.

The next chapter in Downtown Miami’s story will be centered on sustaining commercial and residential growth through investments in mobility, walkability and education, ensuring Downtown remains a desirable place to live and work. Projects like The Underline, the Downtown Baywalk and the renovation of Flagler Street will be welcomed additions.

As Miami’s urban core strengthens its appeal as a vibrant neighborhood that is home to a growing number of companies and residents, our Downtown office market is becoming more diverse. The result is a healthier, more resilient local economy.

 

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Downtown Miami: No Longer 9 to 5

By David Wilkening
December 28, 2018

Perhaps it is not surprising the area’s office market is changing but it may be news to some that downtown’s population now of 250,000 has helped it evolve from a daytime business market into a 24-hour live-work-play city.

This shift has led to major transit improvements (including the launch of high-speed rail and a free trolley service); the rise of the neighborhood’s bar and restaurant scene; and billions of dollars in new mixed-used development.

So says Miami DDA (Downtown Development Authority) in their study on office leasing trends in the past five years.

“Downtown Miami has long been a preferred location for multinational companies seeking access to North America, South America and Europe, and we’re increasingly seeing domestic firms enter the market as we improve our urban infrastructure, welcome new residential options, and cultivate a strong entertainment and hospitality scene,” explains Miami DDA Board Member Danet Linares.

Also Vice Chairman of Blanca Commercial Real Estate Inc., she adds: “Our downtown neighborhood is now viewed as a true live, work, play district and the result is an office market that has stabilized and is becoming more diverse.”

Some key study findings

• More than 6.3 million square feet of office space was leased in Downtown Miami since 2013, with finance, banking, law and real estate tenants accounting for over 60 percent of all lease activity.

• Tech firms are catching up. Altogether, 72 percent of the new-to-market tech and innovation firms leasing space in Greater Miami are selecting the urban core.

• Approximately 58 percent of companies entering the Miami market for the first time choose to locate downtown, “drawn by the neighborhood’s strong quality of life component, walkability and transit connections,” the study says.

• Tenant renewals are driving leasing activity, with 89% of downtown users staying in place and/or expanding their office when faced with an expiring lease. “This stability has fueled the rapid growth of downtown’s daytime population, which now exceeds 250,000 people,” the report says.

• Average rents for Class-A space have climbed nearly 15 percent since 2013 but remain affordable by comparison with other gateway cities in the U.S., such as New York, Boston, and San Francisco, according to the study.

• Downtown Miami has the highest concentration of banks and financial institutions outside of Manhattan.

 

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One Cocowalk signs co-working operator, Spaces, as anchor tenant

Blanca Commercial Real Estate, Florida’s leading independently owned commercial real estate brokerage firm, today announced its rehiring of David M. Valdez who rejoins the firm as a Senior Vice President and Chief Operations Director for the firm’s tenant advisory and brokerage services practice.

BLANCA COMMERCIAL REAL ESTATE ADDS DAVID VALDEZ AS SENIOR VICE PRESIDENT, CHIEF OPERATIONS DIRECTOR

FOR IMMEDIATE RELEASE
MEDIA CONTACT:

Kris Conesa
Roar Media
kris@roarmedia.com
(305) 403-2080, Ext. 115


BLANCA COMMERCIAL REAL ESTATE ADDS DAVID VALDEZ AS SENIOR VICE PRESIDENT, CHIEF OPERATIONS DIRECTOR

MIAMI – January 15, 2019Blanca Commercial Real Estate, Florida’s leading independently owned commercial real estate brokerage firm, today announced its rehiring of David M. Valdez who rejoins the firm as a Senior Vice President and Chief Operations Director for the firm’s tenant advisory and brokerage services practice. This is the latest in an ongoing series of high-level hires for Blanca Commercial Real Estate as it continues with its expansion plans to provide strategic real estate advisory and brokerage services across the region.

Previously, Mr. Valdez served in served in senior real estate management and brokerage positions at leading global corporations and brokerage firms, including as Vice President of Corporate Services and Real Estate, Real Estate Transactions at Goldman Sachs in New York, where he co-managed  real estate transactions and strategy for all leased and firm-owned properties in the Americas – a portfolio of over 110 leases for 14 million square feet of office and special-use space, and where he also co-led a team in managing the purchase, repositioning and asset management of the Embassy Suites (now Conrad) Hotel and a retail complex in Manhattan’s Battery Park City. Valdez also served for nine years as Managing Director at commercial brokerage firm CBRE in New York and was a broker for six years with the Codina-Bush Group in Miami.

In his new role at Blanca Commercial Real Estate, Valdez will work closely with companies to manage their total occupancy expense, secure optimal commercial real estate solutions, while also managing Blanca’s tenant representation operations, mentoring emerging brokers, developing best-in-class processes and providing strategy and oversight to all lease negotiations and financial analyses on behalf of the firm’s clients.

“We are thrilled to once again welcome David to our team, a real estate executive of the highest caliber who comes with an unsurpassed reputation for professional excellence,” said Tere Blanca, CEO of Blanca Commercial Real Estate. “He brings with him a tremendous depth of knowledge and experience that we look forward to leveraging on behalf of our clients.”

Added Valdez: “It is an honor to be rejoining a team of professionals known throughout the industry for their teamwork, client-first philosophy, exceptional work ethic and track record of successful outcomes. Collaborating with the growing Blanca team, my commitment is to continue to add to a tradition of excellence and be an added value when advising our clients.”

Valdez, who has worked nearly 30 years in the commercial real estate industry, has extensive experience in strategic and capital planning, site selection, comprehensive financial analysis, build-to-suit advisory services and complex lease negotiations focused on each client’s individual business objectives. He has been involved in managing some of the largest office and special-use lease transactions within South Florida and New York City office markets.

He received a Bachelor of Arts from Whitman College and a Master of Public Administration from the Maxwell School at Syracuse University. At Harvard Business School, he attended the Goldman Sachs Nonprofit Leadership Program. He is also a graduate of the Leadership Miami program.

About Blanca Commercial Real Estate

Blanca Commercial Real Estate, the leading independently owned commercial real estate brokerage firm in Florida, provides a complete range of brokerage and advisory services to owners and users of commercial real estate. Established in 2009, the firm is noted for delivering distinct client value through a personalized approach, unique methodology, data-driven insight, vast network and deep community engagement. Practice areas include landlord representation, tenant representation, build-to-suit advisory services, and land/investment property acquisition and disposition. For more information, visit www.blancacre.com

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UNITED DATA TECHNOLOGIES MOVES HEADQUARTERS TO NEWLY CONSTRUCTED MIRAMAR TECH CENTER, TWO NEW TENANTS COMPLETE LEASE TRANSACTIONS

FOR IMMEDIATE RELEASE
MEDIA CONTACT:

Michelle Ayala
Roar Media
mayala@roarmedia.com
(305) 403-2080, Ext. 128


UNITED DATA TECHNOLOGIES MOVES HEADQUARTERS TO NEWLY CONSTRUCTED MIRAMAR TECH CENTER, TWO NEW TENANTS COMPLETE LEASE TRANSACTIONS

MIAMI December 12, 2018 – Blanca Commercial Real Estate, Florida’s leading independently owned commercial real estate brokerage firm, today announced its completion of two lease transactions totaling 13,536 square feet at the Miramar Tech Center, located at 2900 Monarch Lakes Blvd., Miramar, FL 33027. The news follows the recent occupancy of United Data Technologies into the three-story Class A office building offering approximately 56,710 rentable square feet.

The leases include new tenant 03b Networks (7,011 sf), a subsidiary of SES Networks and the world-leading satellite operator with over 50 satellites in geostationary Earth orbit and 16 in medium Earth orbit, which was represented by Juan Jaramillo of FGI Realty; and the University of Florida’s Warrington’s College of Business (6,525 sf) represented by Franklin Street Tom Farmer. They join recent occupant and building owner UDT (21,155 sf), a technology enabler that helps clients in major industries evaluate, architect, secure and manage technology in mobile, on premise and in the cloud.

“We are thrilled to have facilitated the completion of these lease deals with top organizations on the vanguard of technology and business who appreciate everything this new property has to offer,” said Juan Ruiz Executive Vice President of Blanca Commercial Real Estate. “Its central location and ability to attract top talent from the area makes this property an ideal choice for any company with its eye towards the future.”

Added Henry Fleches, CEO of UDT: “The Miramar Tech Center features some of the most advanced redundancy and backup systems in the area making it a perfect solution for any company with a robust need to provide continuous, noninterrupted service, or for any organization looking to ensure business continuity.”

The Tech Center is located in the heart of Miramar and boasts full generator backup power, wind-rated impact glass, electric car charging stations, dual HVAC chillers, heavy power and multiple telecommunication carriers and feeds to ensure redundancy and business continuity. The building is also hardened for hurricane resistance and offers high-end conferencing facilities and garage parking of 5.3 per 1,000 square feet.

More information and office leasing opportunities at the Miramar Tech Center are available by contacting Juan Ruiz or Mike Nathanson with Blanca Commercial Real Estate at (305) 577-8850.

About Blanca Commercial Real Estate

Blanca Commercial Real Estate, the leading independently owned commercial real estate brokerage firm in South Florida, provides a complete range of brokerage and advisory services to owners and users of commercial real estate. Established in 2009, the firm is noted for delivering distinct client value through a unique methodology, data-driven insight, vast network and deep community roots. Practice areas include landlord representation, tenant representation, build-to-suit advisory services, and land/investment property acquisition and disposition. For more information, visit www.blancacre.com

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BLANCA COMMERCIAL REAL ESTATE NAMED EXCLUSIVE LISTING BROKER FOR OFFICE SPACE AT DANIA POINTE

FOR IMMEDIATE RELEASE
MEDIA CONTACT:
Kris Conesa
Roar Media
kris@roarmedia.com
(305) 403-2080, Ext. 115

BLANCA COMMERCIAL REAL ESTATE NAMED
EXCLUSIVE LISTING BROKER FOR OFFICE SPACE AT DANIA POINTE

MIAMI – October 23, 2018Blanca Commercial Real Estate, South Florida’s leading independently owned commercial real estate brokerage firm, today announced it has been named by Integra Investments as the exclusive listing broker for up to 500,000 square feet of Class A office space at Dania Pointe, located just east of I-95 at Stirling and Bryan Roads.

Dania Pointe, led by Kimco Realty as the master developer, is an $800 million, 102-acre mixed-use development currently under construction. At completion, it will be comprised of 800,000 square feet of open-air retail space, more than 1000 apartment and condominium units and two Marriott hotels, in addition to Integra’s office development. Integra is a Miami-based private equity and full-service real estate development company. As part of its services, Integra performs acquisitions, development, construction and asset management of real estate ventures in Florida.

“Dania Pointe will be the destination of choice for companies looking to headquarter their operations at a central location in close proximity to Ft. Lauderdale-Hollywood International Airport, that offers ample parking and embodies the live, work, play ethos that is sought after by companies today,” said Tere Blanca, founder and CEO of Blanca Commercial Real Estate.

The Blanca leasing team includes managing director and vice chairman John Guitar and executive vice president Phil Marchese. Both have extensive experience with the leasing of new office developments and working with top-tier corporate brands.

For office leasing information at Dania Pointe contact Blanca Commercial Real Estate at (305) 577-8850.

About Blanca Commercial Real Estate

Blanca Commercial Real Estate, the leading independently owned commercial real estate brokerage firm in Florida, provides a complete range of brokerage and advisory services to owners and users of commercial real estate. Established in 2009, the firm is noted for delivering distinct client value through a personalized approach, unique methodology, data-driven insight, vast network and deep community engagement. Practice areas include landlord representation, tenant representation, build-to-suit advisory services, and land/investment property acquisition and disposition. For more information, visit www.blancacre.com

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BLANCA COMMERCIAL REAL ESTATE NAMED EXCLUSIVE LEASING AGENT FOR WATERFORD AT BLUE LAGOON

FOR IMMEDIATE RELEASE
MEDIA CONTACT:
Kris Conesa
Roar Media
kris@roarmedia.com
(305) 403-2080, Ext. 115

BLANCA COMMERCIAL REAL ESTATE NAMED
EXCLUSIVE LEASING AGENT FOR WATERFORD AT BLUE LAGOON

MIAMI – August 29, 2018Blanca Commercial Real Estate, South Florida’s leading independently owned commercial real estate brokerage firm, has been named exclusive leasing agent for the TH Real Estate and Allianz portfolio in Waterford at Blue Lagoon. The property consists of 1.7 million square feet of Class A office space.

The portfolio, owned in a joint venture between TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA) and Allianz Real Estate, is the largest commercial office park under one ownership group in Florida. Located just south of Miami International Airport and the Dolphin Expressway (SR836) at NW 57th Avenue, Waterford at Blue Lagoon is home to more than 100 multinational corporations doing business across industries that include manufacturing, technology, transportation, healthcare, insurance and finance. Fortune 500 companies operating their regional or Latin American headquarters also leverage the property’s central location and top-quality office environment to draw from a multicultural and multilingual regional workforce.

“We are delighted to have been selected to work on behalf of both TH Real Estate and Allianz Real Estate to realize their Waterford portfolio’s full potential,” said Tere Blanca, founder and CEO of Blanca Commercial Real Estate. “Waterford is a premier office park that is representative of Miami’s global appeal as an ideal business destination. We look forward to further positioning the park to attract additional major brands and large corporate users.”

Added Charles Russo, Director at TH Real Estate: “We look forward to working with the Blanca team to further enhance the strong position of the Waterford portfolio within Miami’s commercial real estate marketplace. Waterford caters to an impressive global tenant roster of multinational corporations and has a strong track record of tenant retention. The team is poised to offer a myriad of corporate real estate solutions in response to the dynamic needs of today’s office users.”

An integral part of the vision for this portfolio is to capitalize on its prime location, its unique setting and its flexibility to accommodate build-to-suit opportunities for office tenants in a tight office market across the state. Waterford is noted for its unique opportunity to accommodate up to 800,000 square feet of new build to suit office space.

In addition to Blanca, the leasing team includes managing director and vice chairman John Guitar and executive vice presidents Phil Marchese and Juan Ruiz. The team has extensive experience working with owners and developers, plus a strong track record of successfully leasing office parks throughout the state. A support team of experienced marketing, research and branding professionals will be led by Blanca CMO Diana Pubchara. The Hogan Group provides property management services.

The addition of this asset to Blanca’s office leasing portfolio makes Blanca the largest commercial real estate brokerage by market share in agency leasing in Miami-Dade County. Since launching the firm in 2009, the Blanca team has grown to nearly 30 top industry professionals.

More information and lease opportunities at Waterford at Blue Lagoon are available by contacting Blanca Commercial Real Estate at (305) 577-8850.

About Blanca Commercial Real Estate

Blanca Commercial Real Estate, the leading independently owned commercial real estate brokerage firm in South Florida, provides a complete range of brokerage and advisory services to owners and users of commercial real estate. Established in 2009, the firm is noted for delivering distinct client value through a personalized approach, unique methodology, data-driven insight, vast network and deep community engagement. Practice areas include landlord representation, tenant representation, build-to-suit advisory services, and land/investment property acquisition and disposition. For more information, visit www.blancacre.com.

About TH Real Estate

TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA), is one of the largest real estate investment managers in the world with $114bn in AUM as at 31 March 2018. Managing a suite of funds and mandates spanning both debt and equity across diverse geographies, sectors, investment styles and vehicle types, we provide access to every aspect of real estate investing, visit www.threalestate.com.

About Allianz Real Estate

Allianz Real Estate is the strategic real estate organization within the Allianz Group and a leading international real estate investment and asset manager. Allianz Real Estate develops and executes worldwide tailored portfolio and investment strategies on behalf of the Allianz companies, considering direct as well as indirect investments and real estate loans. The operational management of investments and assets is currently performed in 5 regions, West Europe (Belgium, France, Italy, Luxemburg, Portugal, Spain), North & Central Europe (Austria, CEE, Germany, Ireland, Nordics), Switzerland, USA and Asia Pacific. The headquarters of Allianz Real Estate are located in Munich and Paris. Allianz Real Estate has approximately 56 billion euros assets under management. For more information, visit www.allianz-realestate.com.

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Blanca Commercial Real Estate Adds Sharon Ellis as Vice President

As Vice President, Ellis, who has more than 16 years of experience as an attorney and commercial real estate professional, will assist in the firm’s plan to expand its tenant representation services and footprint statewide.

Blanca Commercial Real Estate hires new VP for tenant rep

Sharon Ellis worked for Chariff Realty and owned Palmer Property Group

By Katherine Kallergis

Sharon Ellis joined Blanca Commercial Real Estate as a vice president to focus on tenant representation.
Ellis, previously with Chariff Realty Group, will join the company’s team of four tenant advisory brokers, Blanca CEO Tere Blanca said. She will also be involved in business development to expand the firm’s tenant representation business.

Ellis, a licensed attorney, has more than 16 years of experience that includes working with a number of law firms. She helped launch Howard Ecker + Company, a Chicago-based national commercial real estate firm, in Florida, and ran her own company, Palmer Property Group, after that.
She represented Zarco Einhorn Salkowski & Brito for its $18 million,15-year lease at One Biscayne Tower in downtown Miami in 2016.
Blanca has been expanding with the recent hires of John Guitar, managing director and vice chair, and Peter Romero, who’s leading a new property management division. The brokerage has two offices in Miami and Fort Lauderdale and plans to “ continue to grow with the right talent and right strategy,” Blanca said.