_b.png)
Sales Comparables: According to Costar, 7 commercial buildings/properties were sold in Q1 2021 in Aventura, North Miami or North Miami Beach. Notable among them was the recently redeveloped 4,300 sf +/- drive thru Krispy Kreme building located at 530 NE 167th Street, commanding a reported strong price of $9,042,600 ($2,528.69/SF), and having been sold to NY based Bremen House. Please contact me if you would like additional details on any of the referenced transactions!
Lease Comparables: According to Costar 46 commercial leases were signed in Q1 2021 in Aventura, North Miami or North Miami Beach. Notable among them was the reported 5,300sf lease signed at Biscayne Centre, 11900 Biscayne Blvd. Leasing activity has remained consistent in the past 3 quarters. Please contact me if you would like additional details on any of the referenced transactions!
Summary/Notes: As the rate of US COVID-19 vaccinations progresses many expect to see additional resumption of expanded economic activities. Offices could begin to see higher occupancy, and retail could experience increases in shopper foot traffic also. Investors remain eager to find opportunities in all sectors throughout South Florida. Many are also carefully watching to see how the US government may modify capital gains rate related policies. Based on these factors, now may be a helpful time to evaluate your ownership position and goals, and I am happy to consult regarding your future plans, please contact me with any questions.
Comments