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If retail real estate is a dying field Aventura Mall, Sawgrass Mall and American Dream are very healthy “ghosts”

Aventura mall

Aventura mall

We all hear and read stories about how “retail is suffering” and how the Amazons of the world are killing the brick and mortar stores. Banks are shying away from financing strip malls and anything that has the word “retail” is looked at with a wrinkled forehead. As usual and as is true in most areas of life, generalizations don’t work except for the old adagio “location, location, location”. Trends are not the same everywhere and I can confidently say that Miami is a completely different animal. Think about the 2008 crises: Miami bounced back in less than 18 months while other areas took years and years to recover!

When it comes to retail, the habits and culture of the local population make a huge difference. In Miami a great deal of the population is composed of tourists and part time residents from all over the world, and in particular Latin America. These are serious shoppers, prices in their countries are so ridiculously high that they do shopping tourism in Miami. The fact that Aventura mall is the mall with highest sales per square foot in the whole country is good evidence of that. I have never seen in any other mall in the world people walking with suitcases because they buy so much that its easier than carrying bags. Aventura mall keeps expanding and the more it grows the busiest and more successful it seems to be. Zara has the largest store in the US at Aventura Mall.

Sawgrass Mall is another good example of successful retail in the Miami/Broward area. I have yet to meet a Brazilian or Argentinian that leaves Miami without a visit to Sawgrass Mall. They have shuttles picking up buyers from as far as South Beach (smart move!).

American Dream is about to build the largest mall in the country in Miami, a mega entertainment and shopping destination and I bet they did their research.

When it comes to strip malls the picture also looks good. That maybe the reason why a company like RK owns 8,000,000 ft of strip malls and holds on to all of them.

Do people buy stuff online? sure! I do (I can say my Prime membership is duly amortized). But now and ever, the pleasure of going shopping in person with your girlfriend or loved one followed by a cafecito or lunch is irreplaceable and the culture of shopping in Miami is stronger than ever. Madonna would be proud of us…. we are all material girls!

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An Office in Miami is not just an office

900 Biscayne Blvd Miami FL-large-002-DSC 5480-1500x1000-72dpi

An office in Miami is not just an office

An office in Miami is becoming the goal of many US and international companies and the market is responding with luxury and state of the art options to fill the gap. Different factors make Miami a desirable destination for both a main headquarter or a branch office for both large and small companies. Miami, which has traditionally been the “retirement dream” for CEOs and professionals is now the “work and play” new dream. Tax advantages, eternal summers and a lifestyle that includes week-ends at the beach, culture, fancy restaurants and an exhuberant display of wealth are changing the way companies look at the idea of an office in Miami. The expansion of both Miami and Fort Lauderdale airports and the increase in flights make it easier to connect domestically and internationally, and of course, if your company does business with Latin America there is no question about it, an office in Miami is a must.

The office market is reacting to the ultra luxury residential trend and its new exclusive type of residents and we are seeing a need for state of the art, new and enhanced “A” offices. Prices are still extremely competitive with what you see in other important cities. Take for example this full floor (12,000 ft)  of offices available for sale or rent at 900 Biscayne . Located right across from the famous Perez Museum and the Miami Arena, very close to Brickell and Downtown (without getting into the crazy traffic and over crowded core) and the Design and Art District, right around ramp to exit in seconds to I-95 and of course on Biscayne/US1 which allows for multiple connectivity options, a huge advantage considering Miami traffic issues. This luxury building has valet parking and plenty of street parking for those who prefer fast in and outs. Once you enter this full floor be prepared to hold your jaw from dropping in an ecstatic “Ahhhhhhhhhh….and Wowwwwwwww”. The finishes and decor are truly exquisite. One side in elegant dark wood perfect for corporate and professional use and the other side edgy and trendy contemporary white, perfect for design and fashion. An abundance of private halls and wait areas, several conference rooms, and the addition of an event hall with separate entrance that can accommodate more than 100 people for your company’s presentations, client events or just your birthday party make this a great example of the new breed of high caliber corporate environment seeking an office in Miami. If you are a Fortune 500 company or want to work like one, contact us for a private showing of this one of a kind office in Miami. Call 786-251-9513 or 305-788-2878 and feel free to share this video tour

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First Boca Juniors Soccer Academy in Miami

boca juniors

First Boca Juniors Soccer Academy Miami:

Argentina’s most famous soccer team, Boca Juniors, is opening its first soccer school in Miami, at Patricia Mishcon Park in North Miami Beach. Boca Juniors Soccer Academy Miami is the second one in the US. The first one opened a year ago in Long Island, New York.

The city of North Miami Beach unanimously approved the Boca Juniors Soccer Academy which will offer public sports and educational programs for kids 5 to 12 years old and professional soccer programs for kids 12 to 19.

“This will improve and bring something extra to our City. World level soccer is coming for the enjoyment of the community and that is most exciting and a great opportunity for our City”, said North Miami Beach Mayor George Vallejo. The City Administrator, Ana Garcia added “This partnership will be very beneficial for our families, our community, our youth, and the infrastructure of our Mishcon Park”

Daniel Rotsztain, from Soccer Development Group, is the Director of this project and you can hear him talking about this (in Spanish) in this radio interview

You maybe already wondering what is this article doing in a real estate news blog of a Miami real estate site. On top of being the proud sister of the mastermind behind this project, I am aware of the impact of this kind of project on the real estate development of the area. Soccer is becoming more and more popular with the huge and ever increasing Latin influence we’ve been experiencing in Miami in the past years. A large majority of the property buyers in Miami come from Latin America (Argentina, Brazil, and Venezuela). Soccer has become a trend not just among the Latin community but is now a passion with no boundaries that draws multitudes from different nationalities and backgrounds. This first Boca Juniors Soccer Academy in Miami will attract big numbers of soccer fans to the area and there will be a need for other services. We have seen this happen in Miami over and over: an anchor novelty development produces a domino effect of other complementary projects in the surroundings bringing progress and property values up. When we combine this with the new code changes in North Miami Beach and its current pro development philosophy it is a very conservative bet to expect the area to become very hot in the near future. There are already several new projects approved and an interesting masterplan in place. All these indicators added to the privileged geographical location of North Miami Beach and its excellent connectivity are fertile ground for real estate appreciation in the short run. Want to know more about how you can take advantage of this? Contact us at buymiamirealestate@gmail.com and call 786-251-9513 to find out more about properties for sale and great opportunities for development in hot and upcoming areas

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Miami Design District properties: from dingy warehouses to $2.2 billion premier luxury retail mall

Miami Design District

Design District properties: from warehouse district to $2.2 billion luxury mall

Blackstone group has secured a $600 loan for a luxury mall at the Design District. According to Reuters, Bank of China will provide $250 million while Blackstone will provide a $100 million mezzanine loan. Deutsche Bank and Credit Agricole will split the balance.

A partnership which has luxury mogul  Louis Vuitton Moet Hennessy at its core is building 1.2 million square feet of retail space across 20 buildings in the Design District. Half of the 120 stores in the plan have opened in 2014, and it is already impressive with Louis Vuitton, Cartier and Piaget stores around a glass courtyard with a sculpture by Buckminster Fuller.  But you should hold your jaw from dropping until you see the full project completed by 2016, valued at $2.2 billion…that’s a lot of luxury va-va-voom. 

Design District properties have shown again that the true magic kingdom is not Disney’s but Miami’s. An area that was not long ago a bunch of ran down warehouses where you would not even get out of your car after sundown is now one of the most glamorous spots you can imagine. The value of Design District properties has increased astronomically adding in many cases more than one zero.  The big question for real estate investors appears to be “where will these visionaries go next?”, but the real question is “do you have the guts to follow them?”. Keep in mind that when they started, there was absolutely nothing there indicating that this could become the trendiest luxury hub. It takes deep pockets or a gambling nature and an adrenaline personality to embark on that sort of risk, but although serious money is necessary to buy Design District properties now, you can still find interesting deals in the immediate surroundings. Counting on the expansion of the Design embracing its outskirts seems like a pretty conservative bid.

If you are interested in more information about Design District properties and its surroundings, as well as other upcoming areas contact us now. Don’t let opportunity pass you by: 786-251-9513  buymiamirealestate@gmail.com

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Rent in Miami is not for skimpy pockets

Brickell Condos for Sale

Rent in Miami:

Miami is among the fifth least affordable markets in the whole country when it comes to renting, according to a Miami New Times’ article. The good news is we are up there together with markets like New York and Philadelphia, even higher than San Francisco! How is this good news? It is a good thermometer of the demand. In a market where investors from all over the world are buying properties to park their money with the expectation of covering their expenses and making some money by renting them, it is reassuring to know that rent in Miami is up. As you know, the strength of any market is a function of demand and supply.  This is also an indication that there is a rationale behind the thousands of condos under construction. Even when you see a crane in every block and you think “who is going to occupy all these units once they are finished?”, reality is we are still underserved when it comes to availability for rent in Miami. 65% of Miami residents are renting, even when the cost of buying and paying a loan is lower.

When you look at the purchase price per square foot in New York, Philadelphia and San Francisco compared to Miami, Miami is still on the cheap side. This means that you are buying at a much lower price range than these cities while rent values are pretty high. No wonder Latin American buyers are flying to multifamily properties, apartment buildings and other rental properties like bees in a flower field. According to MDDA (Miami Downtown Development Authority) Miami’s population doubled since 2000 and some areas like Brickell have increased 159% in less than 5 years while the Arts and Entertainment District increased its population by 167% during that period. With a steady population increase like this it is easy to understand how developers keep paying higher and higher prices for land even when the cost of construction is increasing by 1% every month. Data shows we still have some road to cover before we can meet the demand for housing.

If you are looking to purchase properties for rent in Miami, contact us right away. We’ll be happy to share with you market intel and good data to support your decision. After 20 years in the real estate market in Miami, we can help you.

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Office for Sale in Aventura FL

One Aventura Lobby


Office for Sale in Aventura FL

This office for sale in Aventura FL, is a rare opportunity.  One Aventura Executive Center is the prime and most exclusive office building in Aventura. With a great location East of Biscayne and right South of Best Buy, Whole Foods and Target, One Aventura is a true class A office building. It is so sought after that there is rarely any unit for sale or rent. This office for sale in Aventura FL, is currently the only office for sale in One Aventura. Is is 1600 ft and is offered at $960,000. This office for sale in Aventura FL, has a great layout and finishes (sellers are world famous architects) and also has three folios which means you can divide and use one and rent or sell the others. Located on the 9th floor, it has the preferred South view. It is just a few blocks from Waterways, across from Aventura Hospital, couple of blocks from Gulfstream and close to Aventura Mall. In the past, most professional offices were located in Downtown Miami and Brickell but the change in the composition of the residents in Aventura, with a high number of Latin American residents has brought a new trend. Traffic in Miami is getting worse every day and professionals who live in Aventura, as well as their clients want a better quality of life with no commute or long drives stuck in traffic to go visit your attorney, CPA, or other professional. Instead, they prefer to consider an office for sale in Aventura FL right next to their home, their families and their kids school. What will you do with all the free time you will have once you move your office to Aventura?

You can view the details of this listing here

If you are looking for a prestigious address for your firm I suggest you contact Patricia 786-251-9513 or Tomas 305-788-2878 now before this office for sale in Aventura, FL is gone.