Wednesday, January 16, 2019 Coral Gables Country Club · Buffet Breakfast Coral Gables Country Club...

2019 CCIM

COMMERCIAL REAL ESTATE

OUTLOOK CONFERENCE

Wednesday, January 16, 2019

Coral Gables Country Club

“Evolving Trends in CRE: Can It Be Different This Time?”

WELCOME FROM OUR SPONSORS

Grand Sponsor

Platinum Sponsor

Gold Sponsors

Silver Sponsors

Bronze Sponsors

2019 Commercial Real Estate Outlook Conference3

Florida CCIM Chapter

Miami-Dade/Monroe District

2019 Commercial Real Estate Outlook Conference

Table of Contents

Today’s Program 5

Speakers’ Biographies 6, 7, 8

Panel Speakers - Development Trends / Opportunity Zones 9

2019 CCIM Florida Chapter Education Schedule 11

CCIM Miami-Dade/Monroe District Board 13

CCIM Course Scholarship Program 16

CCIM Miami-Dade/Monroe District Membership 18, 19, 20

Important PPT Slides

2019 Economic Forecast – K.C. Conway 24

Industrial Market – Stephanie A. Rodriguez 26

Retail Market – Josh Rodstein 28

Capital Market – Andrea Molina 30

Multifamily Market – Calum Weaver 32

Office Market – Maria G. Juncadella, SIOR, CCIM, MBA 34

2019 Commercial Real Estate Outlook Conference 4


2019 CCIM Commercial Real Estate Outlook Conference Program

RegistrationMitash Kripalani, CCIM, President of Miami-Dade / Monroe District

Colliers International South Florida, LLC

Buffet Breakfast Coral Gables Country Club

Presentation of Colors

Pledge of Allegiance

National Anthem

Coral Gables High School JROTC Cadets

Welcome Announcements

Sponsor Recognition

Grand Sponsor Welcome

Platinum Sponsor Welcome

Host Introductions

Introduction of Keynote Speaker

Maria Agon McCarthy, CCIM, Vice President CCIM Miami District, Comreal

Mitash Kripalani, CCIM, President of Miami-Dade / Monroe District, Colliers

International South Florida, LLC

Gary Fitzgerald EVP , City National Bank

Bill Papagno, Hunt Companies

Stephen Rigl, CCIM, Immediate Past President, Binswanger-Gateway Partnership

Eddie Blanton, CCIM, President Elect for CCIM Institute (National) - Tradd

Commercial, Charlotte, NC

2019 Economy Forecast

K.C. Conway, MAI, CRE, CCIM Institute Chief Economist and

Director of Research and Corporate Engagement at the Alabama Center for Real

Estate (ACRE)

Industrial Market Stephanie Rodriguez, Duke Realty

Retail Market Josh Rodstein, NAI Miami

BREAK Networking

Capital Market Andrea Molina, Aztec Group

Multifamily Market Calum Weaver, Cushman & Wakefield

Office Market Maria Juncadella, Fairchild Partners

BREAK Networking

Panel Discussion

New Development Trends

in Miami

Louis P. Archambault, Saul Ewing Arnstein & Lehr LLP , Moderator

Kobi Karp, KOBI KARP Architecture & Interior Design

Gerard Yetming , Colliers International

Ryan Shear, Property Markets Group

Opportunity Zones Adam Yormack, Escalante Yormack Law

Closing Remarks/RaffleMitash Kripalani, CCIM, President of Miami-Dade / Monroe District,

Colliers International South Florida, LLC

Malbelys Gonzalez, CCIM Miami District Secretary, BGI Capital


TODAY’S SPEAKERS

K.C. Conway, MAI, CRE

2019 Economy Forecast

CCIM Institute Chief Economist Kiernan “K.C.” Conway is the director of research and corporate engagement at the Alabama Center for Real Estate (ACRE) housed within the University of Alabama’s Culverhouse College of Commerce. Conway is a frequent speaker for the Federal Reserve, FDIC, FHLB, state bank commissioners, academic groups, professional organizations, and industry associations. He previously served as chief economist for Colliers International – US. In addition to being a frequent lecturer at international conferences, Conway has consulted with major governmental agencies, most notably briefing former

Federal Reserve Chairman Ben Bernanke and the Board of Governors on the burgeoning subprime lending and housing crisis and its impact on the commercial real estate industry.

Stephen R. Rigl, CCIM, SIOR

Host

Stephen R. Rigl, SIOR, CCIM is Senior Director at Binswanger-Gateway Partnership and has been active in the commercial real estate industry since 1984. He is currently Vice President of Finance for the Florida CCIM Chapter and immediate past president of Miami Dade/Monroe CCIM district. Mr. Rigl is the chair of the 2019 CCIM Commercial Real Estate Outlook Conference and was for the 2018 Outlook Conference as well.

His real estate career experience includes numerous office lease transactions on behalf of both property owners and tenants, investment property sales and purchases for clients including

industrial and multifamily properties, as well has holding ownership interests in various real estate projects.

In addition to holding the CCIM designation, Mr. Rigl holds the SIOR designation from the Society of Industrial and Office Realtors. He is currently serving on the Board of Governors for Miami Commercial, the commercial real estate section of the Miami Association of Realtors and is a mentor for the Florida International University Alumni Association.

Mitash Kripalani, CCIM

Co-Host

An active commercial real estate professional and vice president of Colliers International South Florida, Mitash Kripalani, CCIM serves as the 2019 President of the Miami Dade/Monroe District of the Florida CCIM Chapter. Kripalani has been a member of the CCIM chapter since 2014 and has been actively involved on the Board, also previously serving as Education Chairman for the Miami Dade district.

As a Vice President in the Miami office of Colliers International South Florida. A key member of Colliers International South Florida’s capital markets team, Kripalani brings more than

a decade of industry experience. At Colliers, his team services the core South Florida markets, specializing in capital markets with a focus on multifamily, land deals and investment sales.


The PowerPoints from today’s presentations will be available

on the CCIM Miami-Dade/Monroe District website at

www.flccim.com on Monday morning.

Stephanie A. Rodriguez Industrial Market

As Vice President of Leasing, Stephanie is responsible for leasing 7.5 million square feet of industrial properties in Miami-Dade, Broward and Palm Beach counties. Prior to her current position, Stephanie spent three years as Vice President of Asset Management and Customer Service, responsible for the overall operation of the company’s entire South Florida portfolio, including asset management, supervision of personnel, communication, and client retention functions.

Prior to joining Duke Realty, Stephanie was Real Estate Manager and Associate Director for CB Richard Ellis and Property Manager for Trammell Crow, Glenborough Realty Trust, and Washington Real Estate Investment Trust.

TODAY’S SPEAKERS

Josh Rodstein

Retail Market

Josh has over 30 years of experience in commercial real estate. His areas of concentration is multi-fold; he specializes in the leasing, sales, and development of retail and office properties. Representing local and national property owners as their Landlord representative or representing national or regional tenants as their exclusive broker selecting new locations is the basis of Josh’s commercial real estate experience. He has been involved in the sale of developed retail properties and office buildings, as well as, been involved with over 2,000,000 square feet of commercial transactions.

Andrea Molina

Capital Market

Andrea Molina is a Director at Aztec Group, a boutique firm specializing in Investment Banking for the Real Estate industry. Molina works closely with her clients to provide strategic capital solutions for acquisitions, redevelopment, construction, refinance, joint ventures, and programmatic partnerships. Molina brings over a decade of commercial real estate experience to the Aztec Group team. Her clients include emerging sponsors of private real estate as well as well-seasoned owner/operator/developer teams seeking recapitalization and access to programmatic capital.

Ms. Molina most recently served as a Director at a major South Florida based institution with a portfolio in excess of $1 billion where she was responsible for leading all financing and equity executions, as well as portfolio oversight including acquisitions, dispositions, and recapitalization initiatives. Prior to that, Molina was a Senior Analyst with CBRE’s National Retail Partners team based in Miami, where she underwrote the investment sale of over 60 commercial properties, ranging in transaction size from $6 million to $425 million.


TODAY’S SPEAKERS

Maria G. Juncadella, SIOR, CCIM, MBA

Office Market

Maria Juncadella is Managing Principal of Fairchild Partners, one of South Florida’s top-rated commercial real estate firms. As co-qualifying broker, she has been involved in all aspects of management and brokerage activities since 2005 when she and her husband, Jose I. Juncadella, founded the firm. As a real estate advisor, Maria specializes in the sale and leasing of commercial properties in Miami-Dade’s most active submarkets.

In 2016, Maria spearheaded over ten million dollars in lease transactions, accounting for 74,000 of the 600,000 sq. ft. Downtown Doral office park. She participated in the broker

team that achieved a record sale price on a two-acre parcel in Miami’s Edgewater district. As lead broker at five-building Kendall Summit, she has leased 174,000 sq. ft. and achieved a 33% rate increase during the three years Fairchild has had the listing. In 2015, Maria had an active role in Baptist Health South Florida’s land purchase for a build-to-suit distribution center.

Maria is actively involved in multiple office and medical office lease transactions in Coconut Grove, Coral Gables, South Miami, Kendall and Doral. She represents several new-to-market retail tenants.

Maria was 2016 President of the Realtors Commercial Alliance (RCA Miami); its membership reached 2,000-plus commercial agents under her leadership. She has served on the Miami Association of Realtors’ Board of Governors since 2013.

Calum Weaver

Multifamily Market

Calum is an Executive Managing Director for Cushman & Wakefield’s Multifamily Group in Florida. He leads the firms private capital group which is a team dedicated to serving the needs of private capital investors throughout South Florida. Calum has sold over 120 apartment properties totalling over $1 billion on behalf of his clients. Transaction experience includes all multifamily asset classes, tax-exempt bond deals, fractured condominiums, and land sales.

Calum is part of a 15 person team that provides a fully integrated platform for selling and financing multifamily properties. Based in Miami and Ft. Lauderdale, the Cushman &

Wakefield team has completed in excess of $20 billion in transactions, representing over 900 apartment buildings and 250,000 units throughout South Florida. The Cushman & Wakefield Multifamily team is consistently ranked #1 in multifamily sales in South Florida.

5 DRAWINGS!!!At the conclusion of today’s conference, there will be five drawings to give away:

FIVE $100 Gift CardsYou must be present to win!

GOOD LUCK!!! (Speakers, vendors and members of the CCIM Miami Board of Directors are not eligible.)


Louis P. ArchambaultSaul Ewing Arnstein &

Lehr LLP

Moderator

PANEL DISCUSSION NEW DEVELOPMENT TRENDS

IN MIAMI

Ryan ShearProperty Markets

Group

Kobi KarpKOBI KARP

Architecture &

Interior Design

Gerald YetmingColliers

International

The Opportunity Zones program provides a tax incentive for investors to re-invest their

unrealized captial gains in Opportunity Funds that are dedicated to investing into Opportunity

Zones. About 8,700 Opportunity Zones have been indentified throughout the country.

Adam YormakPartner

Escalante Yormack Law

OPPORTUNITY ZONES


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2019 Education Schedule

Dates Class District Location

Jan. 15-18 CI-101 Southwest Naples

Feb. 11-14 CI-102 West Tampa

Feb. 25-29 CI-103 Central Orlando

Mar. 11-14 CI-104 Broward NSU

Mar. 18-21 CI-101 Panhandle Pensacola

Apr. 15-18 CI-101 West Tampa

May 6-9 CI-101 Miami-Dade Miami

Jun. 3-6 CI-104 Southwest Naples

Sept. 9-12 CI-103 East Palm Beach

Oct. 7-10 CI-102 Central Orlando

Oct. 22-25 CI-104 West Tampa

Nov. 4-7 CI-103 Miami-Dade Miami

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Malbelys Gonzalez MSIRE Secretary

BGI Capital

786.496.5685 [email protected]

Florida CCIM Miami-Dade / Monroe District

2019 Board of Directors

John Dohm, CCIM

Infinity Commercial Real Estate/Florida Transatlantic Holdings, LLC.

954.557.3646

[email protected]

John C. Lonardo, CCIM

ComReal Miami - Gables, LLC

305.213.4050

[email protected]

Louis P. Archambault, Esq.

Arnstein & Lehr, LLP

305.428.4510

[email protected]

Stephen R. Rigl

CCIM Past President

Binswanger-Gareway

Partnership

[email protected]

Ed L. Boen, CCIM

Kerdyk Real Estate

305.799.6693

[email protected]

Isabel Fine, CCIM

Real Miami Commercial Real Estate, LLC

305.785.4758

[email protected]

Mitash Kripalani

CCIMPresident

Colliers International

South Florida, LLC

[email protected]

Michael D Hinton

CCIMTreasurer

Apex Capital Realty

[email protected]

Jonathan C. Lay CCIM, MSIRE, MSF

Fairchild Partners / Commercial

Real Estate Services

786.390.5927

[email protected]

Maria Agon McCarthy

CCIMVice President

ComReal Miami-Gables, LLC.

[email protected]

Maruta (Marti) Mang, SVP

City National Bank

305.476.6272

[email protected]

Simona Kogan

Finite Real Estate Corporation

954.647.0910

[email protected]

Andres Navarrete

Aboslut Financial Resources

786.439.8921

[email protected]

Omar Ojeda

Professional Bank

786.483.1742

[email protected]

Elias G. Patsalos, CCIM Casal Group

305.804.9154

[email protected]

Britt J. Rosen, CCIM

Brittex Appraisal Services, Inc.

305.663.7334

[email protected]

Carlos Rodriguez Jr.

Waronker & Rosen, Inc.

786.449.4670

[email protected]

Jorge Napoles, CCIM

Sperry Commercial Global Affiliates786.258.3127

[email protected]

Rafael Romero, CCIM

JLL

305.767.5294

[email protected]

Frank Rodriguez Melo, CCIM

Cedano Real Estate

305.814.0137

[email protected]

Jose Maria Serrano, CCIM

New Miami Realty

305.635.5000

[email protected]

Yulia VargasVETA Group | AG Commercial

Real Estate Advisors

786.780.3344

[email protected]

Edward Schmidt, CCIM

NAI Miami

786.260.0401

[email protected]

Doris Suttin

doris b. suttin realty, inc.

305.308.7061

[email protected]

Paul L. White, CCIM

KW Commercial

305.270.0710

[email protected]

Joshua Young, Esq.Raisal

305.505.5079

[email protected]

Danny Zelonker

Real Miami Commercial Real Estate

305.542.0189

[email protected]


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CCIM Core Course Scholarship Program

FLORIDA CCIM CHAPTER

The Florida CCIM Chapter believes strongly in the value of the CCIM designation.

Granting scholarships assists those qualified to start, or continue the CCIM program.

The CCIM Florida Chapter and Miami-Dade/Monroe District offers the following

scholarships for any CI Core Course, CI101, CI102, CI103, CI104, and may be

attended at any location in Florida or the U.S.

1. CCIM Education Foundation Scholarship – Paul L. White Endowed Scholarship:

$1,000, one per year

2. Florida Chapter Course Scholarship: $1,000, one per year

3. Bob Ward Scholarship: $1,000 for any CI Core Course, one per year

4. Cynthia Shelton Scholarship: $1,000 for CI103 only, one per year

5. Miami-Dade/Monroe District Scholarship: $500 each, three per year

The Florida Chapter and its District Award Scholarships to high caliber, qualified

individuals in the commercial real estate profession who:

A. Will benefit from the CCIM education

B. Are active members of the State Chapter (through the District)

C. Will continue the CCIM education which will give them most of the requirements

needed to achieve the prestigious CCIM designation.

Go to CCIM.COM to see the 2019 course descriptions and scheduled offerings

FOR FURTHER INFORMATION, CONTACT:

John C. Lonardo, CCIM

305.213.4050 or e-mail at: [email protected]


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Membership List

Display Name Company City

Maria Agon McCarthy, CCIM ComReal Miami-Gables, LLC. Coral Gables

Mark Alexander, CCIM Medical Office Brokerage Miami

Rolando Alvarez, CCIM Coldwell Banker Commercial NRT Coral Gables

David Amiel, CCIM Invest Capital Group Aventura

Juan V. Antunez, CCIM The Keyes Company Miami

Clara E. Arango ACE International Realty Miami

Louis Paul Archambault Saul, Ewing, Arnstein & Lehr, LLP Miami

Kenneth Baboun BGI Capital Miami

David G. Baitinger Apex Capital Real Estate, LLC Hialeah

Kirenia Balan Balan Realty, Inc. Miami

Justin Barth Windsor Realty Partners Miami

Robert Barthelmess BGI Capital Miami

Lisette Beraja Magasi, LLC Miami

Thomas J. Blazejack, CCIM, MAI Blazejack & Company Pinecrest

Ed L. Boen, CCIM Kerdyk Real Estate Coral Gables

Bette Brown Centerstate Bank, NA Homestead

Brian T. Carter Douglas Elliman Commercial Miami

Henry Castelo Keller Williams Realty Miami

Lea Cerdido, CMP Corevents Coral Gables

Jose Cestero Valbridge Property Advisors Coral Gables

Jacqueline Cruz-Bustillo TotalBank Miami

Salvatore J. Davide Davide Realty, Inc. Miami

Ariel O. Diaz Trajan Investments, Inc. Miami

Carlos A. Diez, MAI, CCIM Capstone Valuation Advisors Miami

John Dohm, SIOR, CCIM Infinity Commercial Real Estate Miami Lakes

Connie Doumenis, CCIM MRG Commercial Group Miami

Agustin Duarte, CCIM RE/MAX 360 Real Estate Coral Gables

Kent Ducote, CCIM Truman & Co Key West

Aran Dunlop NAI Miami Miami

Frank Fernandez CenterState Bank Homestead

Jorge Fernandez-Pla, CCIM KW Commercial Miami

Isabel Fine, CCIM Real Miami Commercial Real Estate, LLC Coral Gables

Eugene Font Apollo Bank Miami

Augusto J. Fonte, CCIM AJF Properties, Inc. Coral Gables

Jim Fried Sandstone Realty Advisors Miami

Jose Garcia KW Coral Gables - Coconut Grove Miami Lakes

Stephen E. Gaunt, CCIM JLL Miami

Eduardo Gesio FBDC Miami

Sandra Goldstein, CCIM Sandra Goldstein Commercial Real Estate Miami

Vladimir F. Golik, CCIM Keller Williams Realty Premier Properties Miami

Rodrigo E. Gomez AG Real Estate Advisors, LLC Miami

Luis Gonzalez CenterState Bank Homestead

Malbelys Gonzalez BGI Capital Miami

Michelle Gonzalez Floridian First Realty Coral Gables

Roberto Gonzalez Gonzalez and Partners CPAs, LLC Coral Gables


Winston Grace Brokers Real Estate Investment Management Aventura

Laura Graves BrokerNation RE North Miami

Daniel Heisler, CCIM, CPM Adler Realty Services Miami

Douglas Hill American Caribbean Real Estate Key Largo

Michael Hinton, CCIM Apex Capital Realty Miami

Manuel Huerta Bear Finance, LLC Coral Gables

Juan Huice Primetime Realty Group, Inc. Miami Lakes

Elias Jabech Keller Williams Commercial Miami

Doris B. Suttin Doris B. Suttin Realty, Inc. North Miami Beach

Maria G. Juncadella, SIOR, CCIM Fairchild Partners, Inc. Coral Gables

Laura Kefalidis Realty World Executive | Commercial Division Miami

Simona Kogan Finite Real Estate Corporation North Miami

Ronald Kohn, CCIM Kohn Commercial Real Estate, Inc. Miami

Pierre Kopec Archipelago Properties Doral

Matthew Kramer Weinberg Wheeler Miami

Mitash Kripalani, CCIM Colliers International Miami

Jeremy S. Larkin NAI Miami Miami

Gregory J. Laskody, CCIM DISTRICT Realty Advisors Miami

Jonathan Lay, CCIM Fairchild Partners Coral Gables

Krystelle Lay, CCIM Ten-X Miami

Diego Leiva KW Commercial Coral Gables

Neal J. Lipner Miami

LaWanda Loftus First Citizens Bank Coral Gables

John C. Lonardo, CCIM ComReal Miami-Gables, LLC. Coral Gables

Marti Mang TotalBank Miami

Juan M Martinez Metro Consulting & Management, Inc. Miami

Thomas C. Marvin, CCIM Tremont Properties, LLC Miami

John McNally McNally Environmental Law Miami

Steve J. Medwin, SIOR, CCIM Newmark Knight Frank Miami

Louis R. Melara, CCIM Keyes Company/Realtors Homestead

Niko Micin, CCIM AGM Net Lease Miami Beach

Lisa Miller Keller Williams Elite Properties Aventura

Francisca Miranda Keller Williams Coral Gables

Andrea Montejo, CCIM Flagler Global Logistics Coral Gables

Alex Morcate Colliers International Miami

W. Allen Morris, CCIM, SIOR The Allen Morris Company Coral Gables

Andreina Moyssidis Keller Williams Realty Premier Properties Miami

Jorge Napoles, CCIM Sperry Commercial Global Affiliates Miami

Marc A. Napolitano, CCIM Napolitano Commercial Properties Miami

Andres Navarrete Absolut Financial Resources Miami

Michael Navarro MMG Equity Partners Pinecrest

Patricia A. Nooney, SIOR, CCIM CBRE, Inc. Miami

JM Padron, CCIM RE/MAX Commercial Associates Weston

Thomas Panos P.A. Panago CRE Group / The Keyes Company Homestead

Elias G. Patsalos, CCIM Casal Group Miami

Manuel Perez The Keyes Company Coral Gables


Membership List


Ed Perez-Heydrich, CCIM Portfolio Real Estate Services Coral Gables

Christian Perlini Total Real Estate Consultants, Inc. Coral Springs

John Perrone Legacy Realty Services, LLC Coral Springs

John L. Petricola, CCIM Rockefeller Group Development Corp. Miami

Wendy Pierre, CCIM BAWONS Properties, Inc. Miami

Billy Planes, CCIM RE/MAX 360 Real Estate Coral Gables

Alejandro Puente ACP Appraisals, LLC Miami

Tony Puente, CCIM Fairchild Partners, Inc Coral Gables

Patricia Quintana, CCIM Comreal Miami, Inc. Doral

Roza H. Radkiewicz Astor Companies Coral Gables

Karen Reiter Keller Williams Elite Properties Aventura

David Restainer, CCIM Douglas Elliman Commercial Real Estate Miami

Albert D. Rey, CCIM Miami

Stephen R. Rigl, SIOR, CCIM Binswanger-Gateway Partnership South Miami

Carlos A. Rodriguez, Jr. Waronker and Rosen, Inc. Miami

Grace C. Rodriguez, PA AB Realty, LLC Miramar

Frank Rodriguez Melo, CCIM Cedano Realty Advisors Miami

Britt J. Rosen, CCIM Brittex Appraisal Services, Inc. Miami

Matthew O. Rotolante, CCIM, SIOR Lee & Associates Miami Miami

Daniel Salcedo, CCIM CRE Global Miami

Kevin Joseph Sanz, CCIM Orion Investment & Management Miami

Edward Schmidt, CCIM NAI Miami Miami

Jose Serrano, CCIM New Miami Realty Corp. Miami

Keiti Silva Optimar International Realty Miami

Paul Silverstein, P.A. Florida Commercial Team LLC Miami

Arnaud Sitbon, CCIM ESJ Asset Management Aventura

Paul Skoric, CCIM Soundvest Properties, Inc. Miami

Claudia Splinter Trajan Commercial Real Estate Brickell

Everett Stonebraker Steinbauer Associates, Inc. Miami

Chris Suarez Lincoln Property Company Miami

George Theodore, PhD Address Real Estate, LLC Miami

Otto Travieso, CCIM Real Capital Partners LLC Miami

Donald Trombly Risk Strategies Miami

Victor Vargas CorEvents, Inc. / Brittex Appraisal Services, Inc. Miami

Yulia Vargas VETA Group of AG Advisors Sunny Isles Beach

Paul L. White, CCIM CPM CSM RPA KW Commercial Miami

Mark Wohl Tiktin Real Estate Investment Services North Miami Beach

Jennifer Wollmann EWM Realty International, Inc. Coral Gables

Milena Wood Real Miami Commercial Real Estate, LLC Coral Gables

Joshua Young Raisal Coral Gables

Nicolas Zelaya Key Biscayne

Danny Zelonker, SIOR, CCIM Real Miami Commercial Real Estate, LLC Coral Gables

Gabriel Zelonker, CCIM Real Miami Commercial Real Estate, LLC Miami

Jay Ziv, CCIM Avison Young Miami


Membership List


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2019 Economic Outlook by K.C. Conway

Main PowerPoints

4 Fed Rate Hikes, Gov. Shutdown, Tariffs, etc.

Yogi Berra had a Quote to put Anything in Perspective.

2

Forget the “r” word for 2019 … but Get used to the “v” word (Volatility)

3

Just when things were

going so well,

“V” remerged.

What lies ahead?


2019 Economic Outlook by K.C. Conway

Main PowerPoints

The Big Story will be in

Logistics & Industrial R.E.

4

Amazon HQ2 Issue:

Is Amazon going to pick a

HQ2 where it starts out

with a Skills Gap?

KC forecast is a Co-

working/WeWork option

for Amazon HQ2

Jobs & Workforce: LinkedIn MSA-level Skills Analyses

5


Industrial Market by Stephanie A. Rodriguez

Main PowerPoints

SOUTH FLORIDA INDUSTRIAL MARKET OVERVIEW

MARKET SIZE

Palm Beach 62.7M

Broward 132M

Miami-Dade 245M

TOTAL SFL 439M SF

*Source: CoStar 3Q 2018

MIAMI INDUSTRIAL MARKET STATISTICS

Submarket Inventory (SF)

Direct Vacancy Rate (%)

Ave. Asking Rent

($/psf)

YTDAbsorption

Airport/Doral 80,464,770 3.5% $10.84 194,653

Central Dade 3,291,044 2.5% $11.63 45,103

Hialeah 31,066,424 2.8% $8.70 166,908

S Central Miami 13,133,536 7.1% $22.32 (90,735)

Medley 35,417,833 5.2% $9.46 665,758

Miami Lakes 12,056,257 1.4% $8.62 171,183

N. Miami Beach 37,257,803 4.8% $9.07 (50,772)

E Miami 4,273,653 7% $17.19 (30,538)

S Dixie Hwy 8,910,257 2.6% $12.09 (56,714)

SW Dade 10,295,706 1.9% $12.26 (73,213)

W Miami 4,677,002 2.2% $15.49 (26,402)

MIAMI 242,828,846 3.8% $10.59 2,674,465

2

Source: CoStar 3Q 2018

-400,000

-300,000

-200,000

-100,000

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

Airport Medley/Hialeah N. Miami

Key Submarket Absorption

1Q 2Q 3Q


Industrial Market by Stephanie A. Rodriguez

Main PowerPoints

DEVELOPMENT – MIAMI-DADE INDUSTRIAL

• 3.1 million square feet under construction at the end of 2018

• 2017 deliveries totaled 3.7 million square feet

• 2018 deliveries through 3Q totaled 3.1 million square feet

• Submarkets with highest volume of development are:

• Medley/Hialeah

• Miami Lakes

• N. Central Dade

• Airport West/Doral

• Developers:

• Flagler

• ProLogis

• Bridge Development Partners

• Liberty Property Trust

• East Group

• Panattoni

-0.5

0

0.5

1

1.5

2

2.5

3

3.5

4

YE 2017 1Q 2018 2Q 2018 3Q 2018

Mill

ion

SF

Period

Historical Deliveries & Net Absorption

Net Absorption Deliveries

3

MARKET DRIVERS & TRENDS TO WATCH IN 2019

4


Retail Market by Josh Rodstein

Main PowerPoints

2 0 1 9 C C I M O U T L O O K C O N F E R E N C E S L I D E 2

R E T A I L I N M I A M I

T O T A L S P A C E

D E L I V E R E D ( S F )

L A S T 1 2 M O N T H S

1.7 M

N E T A B S O R B T I O N

I N S F

618 K

V A C A N C Y

R A T E

4.0%

R E N T

G R O W T H

2.9%

I N V E N T O R Y ( S F ) 137 M


R E T A I L I N F O R T L A U D E R D A L E

T O T A L S P A C E



864 K


I N S F

245 K

V A C A N C Y

R A T E

3.9%

R E N T

G R O W T H

0.4%

I N V E N T O R Y ( S F ) 108 M


Retail Market by Josh Rodstein

Main PowerPoints


R E T A I L I N P A L M B E A C H

T O T A L S P A C E



182 K


I N S F

-354 K

V A C A N C Y

R A T E

4.6%

R E N T

G R O W T H

3.8%

I N V E N T O R Y ( S F ) 80.5 M


A V A I L A B I L I T Y I N S O U T H F L O R I D A


AVAILABILITY MIAMI FT. LAUDERDALE PALM BEACH NATIONAL INDEX

Market Rent/SF $38.50 $24.67 $27.29 $20.94

Vacancy Rate 4.0% 3.9% 4.6% 4.4%

Vacant SF 5.5 M 4.2 M 3.7 M 503 M

Availability Rate 5.5% 5.6% 6.4% 6.3%

Available SF 7.7 M 6.1 M 5.2 M 727 M

Sublet SF 177 K 98.5 K 105 K 25 M

Months on Market 8.4 9.1 8.9 10.7


Capital Market by Andrea Molina

Main PowerPoints

Commercial Real

Estate Lending 101

Investor (often a business entity):

-Purchases a property, leases out space and

collects rent from the businesses that

operate within the property.

-The investment is intended to be an

income-producing property.

Lender’s basic considerations:

-Loan’s collateral (i.e. the property itself)

-Creditworthiness of the entity (or

principals/owners), including three to five

years of financial statements and income

tax returns

-Financial ratios, such as the loan-to-value

ratio and the debt-service coverage ratio.Source: Investopedia

Sources of Capital

Source: National Real Estate Investor

On a scale of 1 to 10, respondents rated local and regional

banks as the most significant source of capital to the

commercial real estate sector at a 6.7

Availability of

Real Estate

Capital

2018 vs. 2019

Sources: PWC Emerging Trends in Real Estate Survey, Based on U.S. Respondents only; Fed Reserve; data firm Trepp LLC

-Late-cycle sentiment offset by competition

-$4.17 trillion in CRE debt held by all lenders,

with 52.4% held by banks

-$266 billion of private investor “dry powder”

targeting real estate

-Depth of capital pool vs. ability to draw on it

-Pattern of decelerating transaction volume

since 2015.

-Federal Reserve’s April 2018 Senior Loan

Officers’ survey showed, for the first time in

three years, an easing of credit standards on

commercial real estate

-Underwriting standards such as loan-to-cost

ratios and maturities holding steady.

-Larger loans for development projects, and

to expand the geography of construction

lending.

-Expectation of deregulation (Dodd-Frank)


Capital Market by Andrea Molina

Main PowerPoints

Impact of Rising Interest Rates

* Source: National Real Estate Investor

Cap rates

expected to

rise –

mitigated by

flight to

quality

Negative impact on

new construction

financing

How will rising interest rates impact each aspect of the CRE market?

South Florida:

Primary Market

Stability in 2019CRE values – especially in top-tier markets –

are at all-time highs and cap rates are as

tight as ever

Late cycle compressed yields led investors to

secondary markets – 75 to 100 bp spread

Investment activity shifting back to Primary

Markets

Income stream coupled with high-quality

assets that will be best-positioned to go

through different economic cycles

* Source: Trepp LLC

Average Cap Rate by Tier


Multifamily Market by Calum Weaver

Main PowerPoints


Office Market by Maria G. Juncadella, SIOR, CCIM, MBAMain PowerPoints

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