More growth expected for South Florida CRE in 2018: CCIM conference

Friday Jan 19th, 2018

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2018 CCIM Commercial Real Estate Outlook Conference (Credit: Katherine Kallergis) Population growth, new jobs, and a tight residential market are fueling Florida’s commercial sectors, and that isn’t expected to change anytime soon. That’s how economist Sean Snaith summarized the current market as he kicked off the 2018 CCIM Commercial Outlook conference. One other major factor has contributed to the rising fortunes, he told the crowd at the Coral Gables Country... [read more]

A popular Real Estate tax break 1031 exchange may be wiped out.

Wednesday Jun 14th, 2017

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The 1031 exchange, a tax break used extensively in the commercial real estate industry, could disappear if a lower tax rate is passed by Congress. The tax break gives sellers of real estate and other asset types the opportunity to defer capital gains taxes by reinvesting in “like-kind” properties. But lobbyists and Capitol Hill officials working on tax legislation have told the Wall Street Journal that, even if a sweeping federal tax overhaul doesn’t go ahead this year,... [read more]

American Dream mega mall, Graham Cos. project to seek approvals in October

Wednesday May 10th, 2017

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Developers of the American Dream Miami mall and a neighboring mixed-use project by the Graham Cos. have pushed their approval hearing before Miami-Dade County to October so they can present information about their projects at the same time, especially the roadway improvements to handle traffic. Under the previous timeline, the developers were looking to change the land use for the property, most likely in July, and then forge ahead with a development plan that would detail roadway and... [read more]

Palm Beach offices sell for $1,242 per square foot

Monday May 8th, 2017

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  An office building in Palm Beach that previously housed a branch of TD Bank sold for $7.35 million. A company controlled by Regine Taulsen, wife of former town councilman Bill Diamond, sold the vacant office building for $1,242 per square foot. Located at 380 South County Road, the building has slightly less than 6,000 square feet. Traulsen had had owned the building through Traulsen Realty LLC since 2010, when it changed ownership at a recorded price of $6 million. The... [read more]

US mortgage rate drop could cause spike in home sales

Wednesday Apr 26th, 2017

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U.S. mortgage rates fell below 4 percent last week, which may encourage a rush of home buyers. Last week, the average rate on a 30-year fixed-rate mortgage was 3.9 percent, the Wall Street Journal reported, citing data released by Freddie Mac. It’s the first time rates have dropped below 4 percent since November. A week earlier, the rate was 4.08 percent and in mid-March it was 4.3 percent, according to the Journal. Mortgage rates jumped following Donald Trump’s... [read more]

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