Daily Business Review
Daily Business Review














September 2, 2010
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Top Dealmakers 2010

The economic backdrop is by now familiar, but despite those hurdles, the Top Dealmakers discussed in this special report achieved their objectives. They closed the deals — many of them big ones — because there are still able players in the marketplace who possess the wherewithal to put assets to work.

Watch the Top Dealmakers event held at the Hyatt in Downtown
Download the pdf

Special Report: Industrial Guide

Different kind of stimulus: Agencies take advantage of lower prices
Leases, sales and development projects by federal and local government agencies could pump new life into the industrial sector, but closing a transaction with the government can be a lengthy, bureaucratic process.

South Florida ports to grow on as-needed basis
Despite an excess of space, Port of Miami director Bill Johnson recently challenged real estate developers to build more warehouse and distribution space. But with landlords struggling to keep tenants and attract new ones, now’s not the time to expand South Florida’s inventory, some brokers say.

Double-digit vacancy rate still plagues Hialeah
Hialeah, once a key distribution center for the region, is struggling with double-digit vacancy rates. Aging buildings, tight parking at many properties and increased competition mean the submarket’s recovery could be years behind the rest of South Florida.

Landlords give a little to lock in long-term leases
Building owners, fighting an excess of space across South Florida, are giving tenants immediate rent reductions under extended lease agreements to keep them from relocating.

DBR TV: Interview with Cushman & Wakefield’s Audley Bosch, Commercial & Industrial Association of South Florida president, who talks about leasing concessions to tenants and what landlords are doing to get by.

Download the pdf

Retail Guide
There likely won’t be any turnaround in South Florida’s retail sector until there’s a boost in hiring.

Discount Retailers
Discount retailers and fast-food chains may not have the glamour or pay as much rent as high-end stores, but they represent stable income and new lease opportunities.

Building
Developers are finding it hard to secure new construction deals to keep them busy for the next year or two.

Worst Shopping Centers
Several centers have strong owners and prominent anchor tenants and are sure to rebound, but a few may never bounce back.

Charts
A look at the retail market in Miami-Dade, Broward and Palm Beach counties.

DBR TV: Watch reporter Eric Kalis talk about the South Florida retail market, including insight from Cushman & Wakefield's Greg Masin.

Download the pdf

Office Guide

Market thaw depends on one thing: Jobs
Until the economic recovery accelerates and hiring revives, the region’s office sector will remain flat. Like the slow motion of a cruise ship making a 180-degree turn, the high unemployment rate in South Florida eventually will head in a new direction. But until a sustained economic turnaround takes hold, landlords will face a fragile market for office space.

Some submarkets outperform downtown hubs
The health of the towering office buildings in the central business districts of Miami, Fort Lauderdale and West Palm Beach gets plenty of attention. But despite climbing vacancies and declining rental rates across South Florida, some of the region’s submarkets — including Coral Gables, Fort Lauderdale’s Cypress Creek area and Boca Raton — are faring better than the main office hubs, while others are struggling.

New Miami projects don’t feel heat from lenders
Although leasing is slow at tow new office towers in Miami’s downtown and Brickel financial districts, brokers say the neither project is causing lenders to worry. Meanwhile, their competitors work to retain their tenants.

High Profile Foreclosures

South Florida Office Guide Chart

DBR TV: How landlords are having to dangle more incentives to lure potential tenants

Download the pdf

Community Banks

The new normal
As the financial industry emerges from the downturn, the model has changed, especially in South Florida where community banks were closely tied to commercial real estate.

Year-end report
Year-end figures for South Florida-based community banks back up two arguments that the sector has been making in its favor: That big banks deserve most of the blame for the decline in lending and smaller banks have become far more attractive for depositors.

Community Bank Charts
Year-end figures for South Florida-based community banks back up two arguments that the sector has been making in its favor: That big banks deserve most of the blame for the decline in lending and smaller banks have become far more attractive for depositors.

DBR TV: Watch reporter Wayne Tompkins talk about South Florida community bankers, including insight from banking attorney Jorge Gutierrez.

South Florida Economic Forecast
International solutions key to local recovery

With the coming of the new year comes predictions. The DBR’s business roundtable took its shot at forecasting what 2010 holds for South Florida.

Video: New year predictions


Download the pdf

Wealth Management
Is it time to hold or be bold?

"

How do I know you’re not like Bernie?”

For Cathy Pareto and other financial advisers across South Florida, the Bernard Madoff scandal was just one part of an ongoing financial and economic crisis that over the past year has tested wealth managers’ relationships with clients as well as their skills in navigating waters that, if not uncharted, have not been sailed for years.

Wayne Tompkins video report: The financial crisis has tested not only wealth manager's investment skills but also their relationships with clients including the question hanging over everything: "How do I know you are not like Bernie Madoff?

Download the pdf

Real Estate Biggest Deals
Lonely at the top

Moving beyond the recession nightmare
Real estate dealmakers say it will take an abundance of patience before the industry sees the lofty deals of the past.

Hundreds of condo units unloaded in bulk deals
Developers stuck with hundreds of empty condos and delinquent construction loans unloaded blocks of condos at discounted prices to extricate themselves from their debt.

Deals by Sectors:
Office
Multifamily
Retail
Industrial
Hotels
Land

Reporter Polyana da Costa's video report:
This year's real estate biggest deals was more like real estate's biggest losses.

Download the pdf

Commercial Real Estate Annual 2009

Delaying the inevitable fall
With billions in loans coming due, some lenders are extending due dates. It’s a risky move that could prolong the commercial downturn.

Asset managers rescue deals from certain death
Owners who acquired or refinanced properties in the past five years are turning to asset managers to salvage their debt or find ways to boost its market value.

Brickell office building hope to lure tenants
Three projects will soon put nearly 2 million square feet of office space on the Brickell market, and brokers, landlords and tenants are bracing for the fallout.

Hotels selling at 20-year-old prices
It’s back to the ’90s for a growing number of troubled hotel properties. Sale prices for some South Florida hotels have declined to levels not seen in 20 years.

Video report with the Daily Business Review’s Polyana da Costa

Download the pdf

Bankruptcy
In quest of a new blend
Without credit for traditional restructuring, many companies liquidate or seek solutions outside the courtroom.

Don’t consider liquidation only an option of last resort
Although financial analysts see a proverbial light at the end of the recession tunnel, for some businesses it’s too little and/or too late.

More companies in bankruptcy use Chapter 11 to liquidate
Over the last several years, the trend has been toward using Chapter 11 to facilitate an orderly liquidation of assets.
Download the pdf


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