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By AZ Advisory Team, February 25, 2010 10:24 pm

Alex Zylberglait of Marcus & Millichap is proud to present 6285 Sunset Drive. This ready for occupancy 5,200-square foot medical office building is ideally suited for a small medical practice.

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6285 Sunset Drive lies within an established medical hub just steps from South Miami Hospital (which recently completed its medical office complex), a few blocks from South Dixie Highway, and the Metrorail & bus stations.

This medical office building commands a high visibility location in a heavily traveled section of Sunset Drive. It is in the vibrant city of South Miami which borders the University of Miami main campus and the affluent communities of Coral Gables and Pinecrest.

Because of the unparalleled quality of its location, 6285 Sunset Drive would be a solid investment with significant appreciation potential.

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, February 16, 2010 1:32 pm

Another strategy is to buildout a space using modular furniture, even floor-to-ceiling, movable walls with doors to create flexible office space rather than immovable walls. They can use that allowance in their furniture budget vs. construction budget. If they have more of a budget for furniture, it’s a good option for people. This open office setup might include a couple of traditional offices but the rest is comprised of cubicles and furniture. If a company with modular furniture moves to another space, it can take it with them. It’s pricier on the front end, but it gives them even more flexibility with their space.

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, February 15, 2010 12:11 pm

Reducing Costs

All players involved in tenant improvements, from the contractor to the tenant, are looking at ways to save or get the best value for their money. Tenants are trying to be efficient with their space planning and that they are looking at any way they can keep down the costs.

This value engineering analysis oftentimes involves tenants determining what TIs they must have and what TIs they want. Some ways tenants and landlords are cutting TI costs are by reducing or eliminating built-in cabinets, 4- to 6-foot-high divider walls, and any unnecessary frills, such as sidelights on doors and windows next to doors.

The trend is away from multiple coffee stations and back to one central break room, to avoid the costs of multiple sinks.

Tenants are spending more money on the highly visible, public places, typically lobbies and conference rooms, while keeping the remainder basic. As far as interiors and finishes, color schemes that will last 10 or more years are popular. Tenants are moving away from a lot of color – such as pink – and toward the use of neutral shades that won’t go out of style.

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, 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, February 5, 2010 1:39 pm

Commercial tenant improvements, often referred to as TIs, are modifications made to a leased or purchased space for the tenant or buyer. They include doors, carpeting, paint, walls, restrooms, lighting and much more. Frequently, TIs are critical to whether or not a deal on a piece of property is made. When a company takes a space, they have a specific use in mind  If the space does not work for them in all respects, they’re not going to take it.

Oftentimes deals involve negotiated tradeoffs. For example, if a space offers a particular company all the right amenities, but it lacks offices, the addition of offices will be negotiated. Every deal is different. Your landlords’ personalities, your tenants’ personalities, the tenant improvement buildout – everything is different in every deal.  The negotiated tenant improvements are detailed in a work letter, a document attached to the lease.  It can get as detailed as including the texture on the walls.

Standby for the continuation…

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 14, 2010 4:44 pm

Alex Zylberglait of Marcus & Millichap Real Estate Investment Services is pleased to present 14705 NW 25 Ct, consisting of approximately 49,000 rentable square feet, located in Opa-Locka, FL.

Construction of this concrete block industrial facility was completed in 1966 on a 2.02 acre site. It is a Class B property in its market. There is approximately 9,000 square feet of office space with central A/C. There is also mezzanine storage space in the building. The warehouse has three dock-level doors and four grade-level doors. The clear height is 22 feet. The property is currently vacant. The building was recently renovated in 2004, renovations included interior office build-out and the roof.

Opa-Locka is a primarily industrial community located in northern Miami-Dade County. The property’s neighborhood consists of a harmonious mixture of industrial and commercial development. The neighborhood is well located with respect to transportation arteries and employment centers. It is strategically near the Golden Glades Interchange. The interchange connects the Palmetto Expressway, Interstate 95, and the Florida Turnpike. Downtown Miami and the Port of Miami are easily accessible using I-95. Industrial areas in Hialeah and Doral are accessible using the Palmetto. The Miami International Airport is accessible using both I-95 or the Palmetto. Located nearby the property is the Opa-Locka Airport which supports the business aviation community and light cargo traffic to the Caribbean.

Property Address:
14705 NW 25th Ct
Opa-Locka, FL 33054

Property Type:
Industrial Warehouse

Parcel Size: 2.02 AC
Rentable Square Feet: 48,846
Floor Area Ratio (FAR): 0.56 FAR
Zoning: I-2 Industrial – Heavy Manufacturing District
Parking: 22 Spaces
Landscaping: Trees and bushes
Street Frontage: NW 147th ST
Cross Street: NW 25th Ct

Contact Alex Zylberglait for his expert investment advisory services on this distressed asset industrial warehouse in Opa-Locka.

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.

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By AZ Advisory Team, January 5, 2010 4:27 pm

We think that troubles in commercial real estate will not be that bad to bring down the economy.

Other analysts said last year that pending commercial-property bankruptcies could push the country back into recession – wreaking damage on the financial system equivalent to the subprime residential mortgage losses. We disagree to this because the  value of outstanding commercial mortgages is only a fraction of the value of outstanding residential mortgages.

Nonetheless, more losses will come over the next couple of months or years for commercial property owners and their lenders. The amount of loss and regained investments would depend on how owners, investors and lenders hold or sell their commercial properties and then make strategic acquisitions that is more aligned to their objectives, core and operational competencies as well as a good build-up timing for the coming upturn.

Commercial real estate’s decline in value is already slowing this year and we should expect it to bottom and turn around by the half of 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, December 10, 2009 7:48 pm

The 2010 Emerging Trends in Real Estate, released by PricewaterhouseCoopers and the Urban Land Institute, forecasts that commercial real estate values will bottom in 2010 and that values will decline an average of 40 percent from their peak in 2007. The survey called this fall the worst commercial decline since the Great Depression and said it would overshadow the 1990s savings-and-loan crisis.

This is a great opportunity for cash investors to go for quality assets and realize returns as the economy bounces back.