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January 13, 2011 
 
 
Silver Lining

Hello, South Florida! Allow us to introduce ourselves. We are the original commercial real estate e-blast that started in DC six years ago and has since expanded to NYC, Chicago, Boston, Houston, Dallas, Atlanta, LA and now South Florida. We try to be fun, informative, picture-heavy, upbeat, and mercifully short. Please give us your feedback and suggestions: Editorial@Bisnow.com.

 

With the challenges that still face CRE, there’s no better time to be managers, IREM international president Ron Goss told IREM yesterday at its 19th Annual Real Estate Economic Forecast Breakfast in Boca Raton.

 
IREM international president Ron Goss, and fellow panelists Metrostudy’s Brad Hunter

Ron, who flew in from Little Rock (escaping a rare snow storm there) to address the 100 guests, says sound management practices can add value to properties and make them more attractive to tenants and investors. The event featured Ron (standing) and Metrostudy’s Brad Hunter (seated), the Langhorne Co’s Richard Langhorne, and Transwestern’s Walter Byrd. PM Nexus’ Jay Windsor moderated.

Transwestern’s Walter Byrd

Walter had a similar message, saying recent economic conditions have resulted in a “flight to quality,” spurring interest in Class-A properties. When those opportunities dry up, investors and others will turn their attention to Class-B and Class-C properties. Managers can help position those properties for maximum value, he says.


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The Bright Side

 
Hugh Kelly

Although the CRE market is still struggling, there’s reason to think positively about the future, Brooklyn-based economist Hugh Kelly told CREW-Miami at an economic outlook. Why? How? Because the fundamentals impacting RE are improving, disciplined capital is returning, and absorption is driving down vacancy rates. And although the Miami office market is down, it’s expected to have a swifter and stronger recovery than other markets in Florida.

Michael “Mad Dog” Cannon

Integra Realty Resources’ Michael “Mad Dog” Cannon (we’re not sure why he’s mad, but the dense fog that enveloped Miami that morning would have put anybody in a foul mood) concurred, pointing out the many bright spots in Miami’s economy including strong trade and tourism industries. He predicts it would take about 12 to 18 months for the market to recover.


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HQ Relo

 

In the largest lease in Northern Palm Beach County in 2010, private wealth management firm GenSpring inked a 35k SF lease at Riverwalk Center at 150 US 1 in Jupiter. CBRE’s Anthony Librizzi repped the landlord, Maitland-based Tower Realty Partners, which selected the space for its new HQ. The five-story, Class-A building is on the Intracoastal Waterway adjacent to the SW corner of Indiantown Road. We're told its not that blurry in real life, so we're going to attribute that to ripples coming from the nearby Jupiter Yacht Club.

 

Will 2011 bring prosperity? Send your economic forecast to Natalie.keith@bisnow.com.

 
 
 
 
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