The 2016 political season has kicked into high gear, sparking lively discussions about major issues affecting the country. Two of the most significant issues being debated among the candidates are the economy and immigration. Typically, these topics are analyzed independently; however, the conversation has recently intersected at the sun-setting EB-5 Visa Program which expires on September 30, … Continue Reading
Urban Development: Faster Greener Commutes Key to Sustained City Growth, a report released in October 2014 by Cushman & Wakefield, provided insight into Transit-Oriented Development as it explored “the consequences of rapid population growth in 10 major North American cities”—with Miami being one. The study found that the majority of these major cities’ workforce is burdened … Continue Reading
Lincoln Road property values are soaring to new heights with tenant rents and property prices at record highs. Dating back to the 1920s, Lincoln Road has seen its share of transitional decades, but experts say this time it’s noticeably different: “[i]n the realm of commercial real estate, Lincoln Road has taken its place among the … Continue Reading
The Port of Miami Tunnel’s opening on Sunday, August 3, 2014 marked a rousing day for Miami. Not just because police cruiser sirens, motorcyclists and tractor trailers inaugurated new, underwater lanes for thousands of vehicles to soon follow, but because it signaled a great accomplishment in the world of public-private partnerships that will benefit Miami … Continue Reading
An exciting announcement was recently made in South Florida – between May 2011 and today more than 200 new condo towers east of I-95 in Miami-Dade, Broward and Palm Beach counties have been scheduled to be built. Yes, this is no April Fool’s joke, you read that correctly. New condo buildings are being planned all across the … Continue Reading
South Florida’s residential market is strengthening at fast, consistent rates making the prospects for the future seem bright this holiday season. During the over-leveraged, overbuilt times of 2008, most believed South Florida’s rebound would be difficult, but instead, as 2013 nears its end, we see a strong turnaround underway with limited residential resale inventory, rising … Continue Reading
As Suzanne Amaducci-Adams wrote in a previous blog post, the average daily occupancy rate, average daily room rate (ADR) and revenue per available room (RevPAR) numbers for Miami each had a significant increase for the first seven months of 2013 over 2012. As you can see in the chart below, Miami is in outstanding company when … Continue Reading
Warm weather and great events seemed to lure visitors this spring as Miami ranked #1 in March among the top 25 markets nationally for Average Daily Rate (ADR) at $238.12, Revenue Per Available Hotel Room (REV PAR) at $212.20 and Hotel Room Occupancy at a high 89.1%. Even more telling, the ADR increased 14.4% and … Continue Reading
The talk of re-bound, recovery and strength in the real estate market is growing and now we have further evidence from one of Miami’s own. Miami-based Lennar Corporation, the largest U.S. homebuilder by market value, reported last month that not only did it exceed analysts’ expectations for its fiscal fourth quarter, it crushed them- citing … Continue Reading
Miami’s real estate market has always been the topic of dinner table conversations – with the ebbs and flows of its success closely tied to the economy. Not surprisingly, as the economy starts to (slowly) pick itself back up, the conversations about investment and opportunity are also on the rise. Are we faring better…or worse? … Continue Reading
Study Indicates Economic downturn more detrimental than 9/11 The economic downturn– which peaked on September 15, 2008 with the bankruptcy filing by Lehman Brothers– touched every corner of our world in unique and significant ways, including South Florida’s hospitality and tourism industry. Remarkably, studies are now revealing that the effect of Lehman’s collapse on South … Continue Reading
Buyers, both domestic and foreign, are capitalizing on Miami’s continuing commercial and residential investment opportunities. Recent details of new deals and reports reaffirm that Miami is still where everyone wants to be. The Van Dyke Café’s New Landlord The Van Dyke Café, located in the 1924 iconic Van Dyke building originally developed by Carl Fisher and … Continue Reading
With Miami’s sandy beaches, cultural sophistication and international exposure, it is no surprise that the city has positioned itself in 2012 as a sought-after domestic and international tourist destination. Miami is outperforming national averages and standing out as one of the top markets for hospitality in the U.S. According to data assembled by Smith Travel … Continue Reading
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