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By AZ Advisory Team, February 8, 2010 12:03 pm

Alex Zylberglait of Marcus & Millichap is proud to present 11981 Southwest 144th Court, a two-story Class B office building that was built in 2002 of concrete and stucco. The property has approximately 14,700 rentable square feet and will be delivered vacant. The building features upscale finishes. There is ample on-site parking with 50 parking spaces.

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The property is directly across from the Kendall-Tamiami Executive Airport which is one of the busiest airports in Florida, serving corporate, recreational, flight training, and governmental agency activities.

The Kendall area is one of the most densely populated metropolitan areas in Miami-Dade County, creating one of the most diverse cultural mixes that Miami has to offer. It is anticipated that the population of the Kendall area will continue to grow at a healthy pace over the next number of years. The property is minutes from the business centers of South Miami-Dade County and close to Southwest 137th Ave, Krome Ave, the Florida Turnpike and the Don Shula Expressway. The property’s location also provides fast and easy access to the Florida Keys as well as recreational and business activities in Miami and Miami Beach.

Contact Alex Zylberglait, CCIM, SIOR
Vice President Investments
Director – National Office and Industrial Properties Group

Alex Zylberglait provides commercial real estate investment advisory as well as research, estate planning, asset allocation, valuation, financing, special assets services, transaction advisory and commercial property acquisition and disposition services.

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By AZ Advisory Team, January 26, 2010 6:08 pm

Purchasing ahead of the market’s bottom, as opposed to waiting for concrete signs of recovery, provides investors with the advantage of relatively limited competition. Resumption of job growth will draw more investors back into the market, and, while prices may soften further before stabilizing, they ultimately will pass through current levels at the start of the next appreciation cycle.

Alex Zylberglait provides commercial real estate investment advisory as well as research, estate planning, asset allocation, valuation, financing, special assets services, transaction advisory and commercial property acquisition and disposition services.

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By AZ Advisory Team, January 25, 2010 2:07 pm

One of the biggest risks to the economic recovery and commercial real estate is rising interest rates ahead of a recovery in end demand. In the last few weeks of 2009, the 10-year Treasury yield moved up 60 basis points to 3.8 percent. This move largely reflected a capital shift toward equity markets as risk tolerance rose but also illustrates inflation concerns and volatility in the U.S. dollar. This recent rise in long-term rates may not last, as geopolitical concerns and a choppy economic recovery pattern may create a fl ight to safety, but the prospects of a jump in interest rates above and beyond the sustainable 3.5 percent to 4.0 percent range poses a risk to the housing recovery and places additional pressure on commercial real estate values.

Alex Zylberglait provides commercial real estate investment advisory as well as research, estate planning, asset allocation, valuation, financing, special assets services, transaction advisory and commercial property acquisition and disposition services.

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By AZ Advisory Team, January 22, 2010 3:40 pm

Lenders Remain Cautious, but Encouraging Signs Emerge. Banks will remain the primary source of financing for commercial real estate, with the exception of apartments, which will continue to benefit from agency lending. Life insurance companies are showing renewed interest in lending, but a 2010 surge is unlikely due to capacity limitations. While traditional CMBS is not expected to become a major source of financing in the near term, the first TALF-eligible CMBS issuance was met with strong demand and paved the way for a few non-TALF deals in the weeks that followed.

Alex Zylberglait provides commercial real estate investment advisory as well as research, estate planning, asset allocation, valuation, financing, special assets services, transaction advisory and commercial property acquisition and disposition services.

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By AZ Advisory Team, January 21, 2010 8:17 pm

Commercial Real Estate – Office: First-time unemployment claims fell in December to their lowest point since the onset of the financial crisis in September 2008. In addition, only 11,000 jobs were lost in November, the lightest month of cuts since the recession began. Reductions were concentrated in the manufacturing, construction and information sectors and were almost offset by growth in healthcare and the professional and business services sector. The gain in professional and businesses services hiring was driven mostly by a surge in temporary staffing, which rose for the fourth consecutive month in November after a prolonged period of contraction. This trend suggests that staffing needs at many companies have begun to increase as a leading indicator of eventual payroll hiring when companies enter an expansion mode. The recession has claimed nearly 7.2 million jobs so far, including 4.1 million positions in 2009.

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By AZ Advisory Team, January 20, 2010 8:00 am

Commercial Real Estate – Office: Vacancy growth is slowing down and is expected to recover relatively quickly due to the limited construction of new offices during the recession.  Tight credit markets continue to hamper office investment activity but also restrict new development. The latter bodes well for office property owners in the next recovery cycle, building on the benefits of below-trend construction during the past several years. In 2010, less than 30 million square feet of new office space is slated for delivery, the lightest period for completions since the mid-1990s. Many projects have been deferred or abandoned in recent quarters, and the planning pipeline continues to thin due to weak office space demand and a lack of financing. As a result, owners of existing properties should have an extended opportunity to fill vacancies ahead of the next upturn in construction. This may even drive rents up when demand grows in the upturn against limited supply of offices.

Alex Zylberglait provides commercial real estate investment advisory as well as research, estate planning, asset allocation, valuation, financing, special assets services, transaction advisory and commercial property acquisition and disposition services.

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By AZ Advisory Team, January 19, 2010 9:26 pm

Medical Office Investments: While fewer office sales were reported in 2009, medical properties accounted for roughly 25 percent of the total, up from 12 percent prior to the credit crunch. Despite deep office-using job losses in recent years, healthcare posted steady gains through the recession. The combination of aging baby boomers and potential healthcare reform will draw more investors to this segment in the near term. It is estimated that if 30 million uninsured gained coverage, as current legislation anticipates, the added demand would require approximately 59 million square feet of medical offi ce space beyond what is needed to satisfy normal demand trends. Cap rates in the medical offi ce sector have increased but not to the degree registered among traditional office assets, with the average of 8.5 percent up just 120 basis points from the low recorded in 2008.

Alex Zylberglait provides commercial real estate investment advisory as well as research, estate planning, asset allocation, valuation, financing, special assets services, transaction advisory and commercial property acquisition and disposition services.

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By AZ Advisory Team, January 15, 2010 2:24 pm

Some huge deals have been done in recent weeks as highlighted by the Financial Times. Either previous commercial real estate crisis fears were overdone or these new investors are about to get creamed.  Success will probably all come down to the particular property in question.

A public sign of such activity came on Friday when Colony Capital won a Federal Deposit Insurance Corporation auction for $1bn of commercial property loans formerly held by failed banks in states hit hard by the real estate downturn. Earlier last week, SL Green, a real estate investment trust, said it had refinanced a Times Square tower it owns with Canada’s Caisse de Dépôt et Placement du Québec in a $475m deal ed by Bank of China. In December, JPMorgan Chase raised $625m for Inland Western, a real estate investment trust, of which $500m was in the form of securities backed by commercial real estate assets. The deal was particularly notable because it was done without help from the term asset-backed securities loan facility, or Talf, which was set up to provide financing for investors in such deals.

Alex Zylberglait provides commercial real estate investment advisory as well as research, estate planning, asset allocation, valuation, financing, special assets services, transaction advisory and commercial property acquisition and disposition services.

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By AZ Advisory Team, January 13, 2010 12:33 pm

Looking at a report by our commercial real estate research partner, Real Capital Analytics — it says that “Foreign interest in buying US property is high and will grow in 2010. Asian investors will provide some of the newest capital in the market, but German funds and high net worth buyers from around the globe will also be active. The increased capital from Asia that has just started to emerge will particularly benefit the West Coast whereas more traditional European investors prefer the East Coast. Potential changes to the Foreign Investment in Real Property Tax Act (FIRPTA) could remove some barriers that have discouraged foreign investment in the US. Over the past few years, just 10% of US property acquisitions have involved cross-border investors, well below the global average of 28%. A repeal of FIRPTA is unlikely, but one likely change could facilitate greater foreign investment in US REITs, yet another reason why the REIT sector looks so promising for 2010.”

Alex Zylberglait provides commercial real estate investment advisory as well as research, estate planning, asset allocation, valuation, financing, special assets services, transaction advisory and commercial property acquisition and disposition services.

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By AZ Advisory Team, January 12, 2010 10:43 am

Alex Zylberglait of Marcus & Millichap is proud to offer Square One Center, a one-story Class B medical office building with approximately 17,600 square feet of rentable space. The property was built in 1999 of concrete block. It is located right off West Dixie Highway next to Aventura, Florida. The building has ample on-site parking with a 6 to 1,000-square foot parking ratio.

The property is 100 percent occupied and has a majority of medical tenants. It is located proximate to Aventura Hospital, which recently underwent a $130 million expansion. There is ease of management for an investor with all NNN leases.

Aventura is an affluent suburban submarket in northeastern Miami-Dade County, a mile from the beach. The city is located centrally between Ft. Lauderdale and Miami. Aventura has been a rapidly growing area for several decades as people are drawn to the region’s beaches and excellent year-round climate. Minutes from the property are Highway I-95, Biscayne Boulevard and Aventura Mall.

Property Type: Office
Subtype: Medical Office

Property Name:
Square One Center

Property Address:
20880 West Dixie Highway
Miami, FL 33180

Price: $4,100,000
Size: 17,600 Rentable SqFt

Contact Alex Zylberglait for his expert investment advisory services on this office property Square One Center.

Alex Zylberglait provides commercial real estate investment advisory as well as research, estate planning, asset allocation, valuation, financing, special assets services, transaction advisory and commercial property acquisition and disposition services.