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Commercial Real Estate Trends In South Florida For 2022

What To Look Out For In The Coming Year

If commercial real estate trends for South Florida commercial real estate are anything to go by, commercial properties will be looking good over the next few years. The commercial property market in South Florida is one of the highest commercial property markets in the world and has been enjoying strong growth since 2015. It’s also expected that commercial real estate prices will continue to rise over the next few years as demand outstrips supply, meaning that commercial real estate trends should remain positive throughout 2022.

What Next For Commercial Real Estate Trends In South Florida?

The high levels of construction over the last few years have not only increased the commercial buildings available but have also placed downward pressure on rental rates being charged across these commercial spaces. This is one trend that South Florida commercial property investors may be looking to see slow down in 2022, although there’s no reason to suggest that the current commercial property market won’t continue to remain strong.

Commercial Real Estate Will Remain A Good Investment

As is pretty much always true when commercial real estate trends are mentioned, investment properties are likely to remain a good option for commercial space seekers over the next few years. The commercial market across South Florida is particularly buoyant and this level of investor confidence is likely to continue.

All commercial real estate statistics should be looked at in conjunction with the commercial property market itself and other commercial real estate trends throughout 2022 to get a full picture. These stats can help investors make informed decisions about their own property needs, whether that’s making investments or managing current investments better.

What Other Commercial Real Estate Trends Will Be Out There?

There are no certainties in commercial real estate investment but there are some things that will certainly influence what happens over the course of 2022. For example, it’s likely that South Florida developers will continue making moves to diversify local construction activity across the commercial property market. This commercial real estate trend is one that’s been ongoing since 2015 and will likely continue as commercial properties become more widespread across South Florida.

Developers Will Continue Working To Improve Local Infrastructure

This commercial real estate trend is a fairly recent one, coming into play over the last few years as commercial spaces have begun to increase in number. The idea behind this commercial real estate development is to ensure that South Florida commercial spaces are able to accommodate the influx of new commercial buildings through better infrastructure and commercial building services for individual buildings where possible. It’s also likely that South Florida developers will seek further funding from state government or local banks to help keep this commercial real estate trend going throughout 2022.

Looking To Purchase Or Sell Commercial Real Estate In South Florida?

Contact Leah Mayersohn to learn more about how he can assist you fascilitating your purchase or sale.

Legal Steps to Acquire Real Estate in Florida

Acquiring land, home and commercial properties in Florida can be overwhelming. This is because there are many legal requirements both the seller and buyer have to fulfill before a full and legal transfer of property could take place.

The following are the steps both buyers and sellers go through while transacting real estate in Florida:

1. Seller’s Acceptance

Generally, the buyer will always make an offer to the seller. The process of real estate transactions starts when the seller of the property accepts this offer. The two parties will then sign a contract of agreement confirming the sale of the property at a proposed price. At this stage, the seller may demand earnest money—a deposit—to be paid to an escrow agent or attorney. They will then send the signed contract to an attorney or title company who will carefully confirm the details of the property, and legally transfer the title of the property to the new owners.

2. Disclosures

Commonly refers to as disclosure, it is the responsibility of the seller to warn and inform the buyer of any known defects in the property. The disclosures may include environmental risk, past repairs, physical but hidden damage, and any other defects that could affect the value of the property. This disclosure must be done by the seller before the closing date and the buyer must also acknowledge every disclosure before the sale is completed.

3. Buyer’s Inspection

The buyer has to inspect the property within the time interval specified in the contract. There are many types of inspection depending on the property in question. For instance, drywall and termite inspection could be done to ensure the property is in a good condition.

4. Negotiation and Buyer Requests

The buyers may request the seller to reduce the sales price, complete repair work, or pay for some of the closing costs based on the outcome of the inspection. The seller can agree to some or all of these requests, but the buyer can end the transaction if the seller declines

5. Closing

The parties will sign the necessary documents related to the sale at this stage. Payments are made to the seller and access to the property is given to the buyer.

3 Reasons You Should Let a Real Estate Lawyer Be Part of Your Home Buying Process in Florida

Buying a home is quite different from regular commodities. It involves the legal transference of landed property from one entity to the other. Unlike everyday items, the legal aspect of buying a home can be somewhat complicated, which might require the expertise of a real estate lawyer.

It is best to play it safe by following due legal processes in any real estate purchase. It is in the best interest of both parties to engage the presence and knowledge of a real estate lawyer in such transactions.

Are you confused about the roles of a real estate lawyer in purchasing a real estate property? Below are a few reasons it is in your best interest include a real estate attorney when buying a luxury home.

1.  They Help with Every Contractual Issue Involved in the Buying Process

Some home buying process requires complicated contracts to pull through. These complications often arise from out-of-ordinary elements such as installment payment, delay in handover, and other related clauses. A Real estate lawyer will take care of all complexity involved in the purchase. Consequently, it makes it easier to understand every part of the contract and mitigates the possibility of contractual mistakes.

2. Helps You To Understand Real Estate Laws In The State

Real estate purchase laws vary slightly from state to state, even though there are specific federal laws. If you purchase real estate property in Florida, it is best to understand all the fundamental rules. Trying to study the regulations alone might not be effective. Besides, you might not get the necessary understanding required to keep all activities legal.

A viable real estate attorney will save you this stress by helping you with everything you need to know. He will also ensure that you keep all activities involved in the transaction legal. You won’t have to worry about breaking any of Florida State real estate regulations.

3. Peace of Mind

Working with a real estate lawyer offers you peace of mind all through the whole deal. You don’t have to worry about getting duped or breaking laws. A good lawyer will help you to get through tricky situations. It will also give you the legal and professional confidence required for proper negotiations.

Do you need the service of a viable and professional real estate lawyer in Florida? Feel free to contact Real Estate Law today to schedule your initial consultation by calling (954) 779-7009.

South Florida Commercial Real Estate Remains Warm

According to a recent article in Forbes South, Florida Commercial Real Estate is an investor’s dream come true. It was reported that well over 30,000 New Yorkers had hung up their NY tenancies for Florida. In addition, Californians, en masse (80,000+) said goodbye to the bay area, a good portion of them moving into Floria. Does the lax environment provide more freedom for those looking to get back to normal? getting children back into school and what’s better than year-round warm temps?

2021 Best Summer Yet?

Throughout 2021 we can expect the South Florida commercial real estate market to remain warm to hot due to a number of factors including increases in job growth, tax-friendly laws, tourism, major corporations opening new offices and many other factors.

Are you considering taking part in this vibrant market? Talk to an expert commercial real estate lawyer in South Florida at Schecter Law to get unique insights into the best opportunities in the market or assistance with many aspects of your deal including negotiation, legal issues, zoning, closing, transactional issues and more.

Economic Stability 

Economic stability in South Florida is the result of a range of factors including steady population growth as well as returning tourism levels. The economic stability drives commercial real estate demand as new restaurants, offices, corporations and retailers compete for prime locations. The state is expected to see an additional 6 million residents over the next decade to bring the total to approximately 26 million by the year 2030. Population growth estimates remain bullish, which means that commercial real estate is not likely to see a major dip in demand overall, barring certain economic factors.

Business Incentives

The state also offers unique business incentives that keep demand for commercial real estate high. Florida is rated as the #2 state for business according to Chief Executive Magazine. 20% of U.S. export goods are located in Florida because of its favorable tax laws. It also remains a friendly tax state for retirement – the increase in relocators and retirees drives commercial areas such as retail. Entrepreneurs, investors and business owners will continue to flock to Florida because of all of the tax incentives, including no personal income tax, estate tax or inheritance tax. 

Foreign Investment in Real Estate

Over the past few years, foreign real estate investment has remained high in Florida, with the state open ranking #1 for foreign investment dollar amounts. There are a number of factors driving this investment including the climate, tourism, relatively low cost of living compared to global cities and economic stability. 

 

Get Help With Your Commercial Real Estate In South Florida

The retail market is one of the strongest in the country because of all of the domestic and foreign tourism and investment. Time will tell, but several sectors of the South Florida commercial real estate market look to be on the uptick. If you have any questions about what this means for your next commercial real estate move, talk to a leading South Florida commercial real estate lawyer. Call Leah Mayersohn at Schecter Law today at (954)-779-7009.

Real estate analysts and insurance executives suggest Florida’s property-insurance market is in a difficult situation, as increasing carrier losses and higher monthly premiums endanger the state’s flourishing real-estate sector.

Long-term property owners are facing astronomical premium increases or warnings that their coverage will be discontinued. Out-of-state property purchasers who migrated to Florida during the coronavirus outbreak are shocked at the current cost of property ownership. 

Why the Cost Increases?

 

Several factors have influenced these price hikes. Back-to-back hurricanes Irma and Michael in 2017 and 2018 respectively wreaked havoc on the state, resulting in $30 billion worth of insurance claims. The expense of reinsurance, which is taken out by insurers to offset part of the inherent risk of the coverage they offer, is increasing. Excessive insurance claim lawsuits and a surge of suspected sham roofing claims are also at play.

What Florida Commercial Real Estate Buyers Should Know 

 

Buying real estate is likely to be the biggest financial investment you make in life. It’s essential that you collaborate with qualified professionals at each step of the purchasing process to secure your investment. Each person in your team, including your real estate lawyer, financial lender, property insurance carrier, and real estate agent, plays an important role in a successful commercial real estate transaction.

Retaining a knowledgeable, experienced commercial real estate lawyer from the start will help you avoid expensive errors later on. Before making a purchase, you may want to bring your real estate lawyer on board and meet with them prior to signing any documents.

Experienced Legal Help for South Florida Commercial Real Estate Transactions 

You’ll need an accomplished commercial real estate lawyer if you’re looking to invest in commercial property in South Florida. For all of your commercial real estate necessities, Mayersohn Law Group is the legal advocate to call. You’ll need a lawyer who is able to confront well-funded insurance companies, commercial property owners, and unscrupulous real estate agents, whether you’re local or from out-of-state.

It’s critical to consider every detail involved in finding a commercial property that meets your company’s needs, making an offer, and closing the transaction. Don’t wait to reach out — call now Mayersohn Law Group.

Currently, the property market in South Florida is so aggressive that real estate purchasers from the Northeast are offering cash transactions. Many people are already looking to unconventional methods of home acquisition, such as the use of cryptocurrency to make the purchase.

Currently on the South Florida real estate scene, there’s a new way to purchase property. It can be found on the South Florida MLS, which is a database of real estate listings. Sellers are now able to choose and advertise if they will consider cryptocurrency.  

Bitcoin and other cryptocurrencies are increasingly being used to purchase real estate, particularly since the beginning of the coronavirus pandemic. A slew of incredibly tech-savvy and finance titans have flocked to South Florida from places like New York and Silicon Valley and New York to make these cryptocurrency offers. 

Is Buying Commercial Property With Cryptocurrency a Smart Move? 

 

Cryptocurrency isn’t only a bold investing tool for the courageous; it’s already becoming a new way to pay for regular necessities. With a search engine that helps you to browse for terms “bitcoin” or “ethereum,” to determine if a seller accepts cryptocurrency, sites like Open Listings are working to make it easier to locate properties you can buy with Bitcoin, etc.

Since the concept of using cryptocurrency to buy property is still very new, novices to the currency may be apprehensive. Many of these concerns may stem from the lack of regulatory guidelines in the cryptocurrency space so far, as well as a lack of awareness of how cryptocurrency profits are taxed.

Some analysts caution that purchasing real estate with cryptocurrency may not be straightforward. If you locate a property owner who is willing and able to take your offer, finding insurance carriers and escrow firms who are familiar with crypto transactions can still be difficult. You may need to cash out your cryptocurrency and make a conventional transaction.

Contact a Seasoned South Florida Commercial Real Estate Lawyer Now 

 

Purchasing commercial property — with cryptocurrency or traditional funds — can be challenging, especially for busy businesses that are still conducting daily operations in the midst of looking for new real estate. You need an experienced legal advocate who can advise you on what purchase decisions are in your best interests. 

Don’t hesitate to contact Mayersohn Law Group; we’re ready to assist your company with any commercial real estate concerns you may have. 

Why You Need A Commercial Real Estate Attorney

Purchasing commercial real estate is a major investment and while some deals may seem straightforward, in truth, they rarely are. Pursuing commercial deals is likely to become incredibly complex and demands attention to a variety of details that an experienced South Florida Commercial Real Estate Attorney will be very well attuned to. In fact, your attorney will actually be able to anticipate any issues that may arise or manifest as possible risks and address those with you.

What does a commercial real estate attorney really do?

A South Florida Commercial Real Estate Attorney’s ultimate purpose is to protect your rights. While there are many major elements involved in a commercial real estate deal, the prime position of your attorney in the deal is to strategically structure your transactions in your best interest. With that in mind, you have the assurance that within any contract or disputes related to the commercial purchase or sale in question, your rights and goals are preserved and protected and your interests, from a litigation perspective, are secured at the highest level to mitigate any risks involved for the smoothest transaction possible.

Why Hire a Commercial Real Estate Lawyer?

Any person, business, or entity that enters into a commercial real estate transaction in South Florida without an experienced Commercial Real Estate Attorney runs the risk of complications. At the end of the day, commercial real estate is a business and any party with whom you enter into a transaction will only ever have their benefit in mind.

Generally speaking, commercial real estate is an area of practice that is often fraught with high levels of litigation risks, this includes local and state laws, regulations, and elements often overlooked by residential real estate attorneys who are not equipped with the proper tools, skills or information on commercial real estate transactions.

Major Investment And Purchase Transactions In Commercial Real Estate Call For Experience

A residential home purchase is quite different than that of a high-asset or commercial real estate deal. With this understanding, it is best to be well-armed and well prepared before you enter into any contract. A Commercial Real Estate Attorney will assist in the following:

Know Your Rights

Both buyers and sellers have rights that they may be unaware of, an experienced commercial real estate attorney will help you understand and identify both your rights and your obligations. They will liaise with buyers, sellers, attorneys, land and titles, government bodies, insurance, and banks. As you go about your daily business and focus on those important elements involved in running your business, a commercial real estate attorney provides peace of mind.

Contact Leah Mayersohn Today For All Of Your South Florida Commercial Real Estate Legal Needs

Commercial Real Estate Is In High-Demand In South Florida

Every few weeks we update you on commercial real estate in South Florida and the regularity in which the market grows is anything but predictable.  Commercial Real Estate is sizzling, especially for the food industry and this may very well create a shortage for other commercial space needs. It seems that the appetite for growth continues to permeate.

Expansion, Growth & The Shortage Of Land

Many restaurant chains and fast food companies are finding that they are facing a difficult time locating and acquiring commercial space that allows for their types of business models (drive-thrus) throughout Southern Florida.  Because of the latter, they are increasingly competing within the commercial space industry in order to find alternative locations meant for more traditional commercial businesses and restaurants. This creates a shortage for those seeking commercial spaces.

Commercial Space Competition

With Florida’s growth virtually exploding and exceeding any possible model of speculation, there are entrepreneurs, corporations, and start-ups looking to put roots down throughout South Florida for their business. The competition is strong and the time is now.

If you were looking to launch your business or expand your business, you may be bidding against companies and corporations with wider pockets.  It is absolutely vital to put an offer in on a space the moment that you decide that you have found the precise location needed that checks all of your boxes to facilitate the launch or expansion of your business. Last year, space better equipped for a medical office may now be a part of a bidding war for a big chain’s unorthodox rethinking of a less traditional version of their usual drive-thru fast-food locale.

Experienced, Aggressive Commercial Real Estate Legal Help

If you are ready to expand your portfolio with commercial properties in South Florida, you need an experienced South Florida Commercial Real Estate Attorney. Leah Mayersohn is your vital source for all of your commercial real estate needs. Whether you are local or out-of-state, you will need an attorney who can go head-to-head with high-powered backed firms, owners, and agents.  South Florida Commercial Real Estate can be a complex market to navigate and it is important that you understand every aspect and element involved in locating a commercial property to fit your needs, engaging in an offer, and preparing to close. Call Leah Mayersohn today for immediate assistance.

 

 

Commercial Investors In South Florida

While the luxury real estate market is doing extraordinarily well, don’t count South Florida Commercial Real Estate Investors out. From commercial buildings to multi-family units, Commercial Real Investors are doing exceptionally well considering the state of sister markets nationwide.

Commercial Properties

The only way to go is up for commercial investors.  From the recent news that big tech is swarming to South Florida to top names in entertainment relocating to the sunshine state, there is more yet to come.  In a large acquisition, developers have retained 6+ million dollars along with plans for a 292 unit designated for multi-families on over 30 acres in Thonotosassa, a high-profile Palm Beach bankruptcy sale of notable properties worth upwards of 21 million that includes a post office building, and news that a Sheetz family member unloaded 26 million of commercial properties in the exclusive enclave of Palm Beach,  commercial investors are shaking things up and growth appears to be on the horizon.

Boost In South Florida Continues

To recap on all of the reporting of major tech execs making big moves into South Florida and the looming question of jobs,  if this activity is any indicator of what the future holds, we might also ask, what if anything new do these execs and tech giants plan on building here? We’ll have to wait for future disclosures but with no peak in sight, now is a good time for real estate investors interested in the South Florida local to get acquainted with properties of interest and prepare their offers.  There is much competition in South Florida and while you may have found a commercial property to meet your needs, blink and you may find that that property has an offer or is pending.

Get Help From A Seasoned Commercial Real Estate Attorney

Speak to an experienced Commercial Real Estate Attorney in South Florida as early on in the process as possible so that you may have the proper counsel and guidance on how to move through the process effectively and efficiently. Get ahead of competing buyers, prepare solid contracts and preserve your rights; call or contact Leah Mayersohn for assistance today: tel:954-779-7009

 

 

Investing In South Florida Commercial Real Estate

If you are in the market for commercial real estate investments or are considering investing in South Florida, you are in good company.

The “Where” In South Florida Commercial Real Estate

Investors’ are primarily concerned with, you guessed it, location, location, location. With that said, the most unlikely locales may provide the biggest return, even amidst pandemic closures. While many establishments have closed their doors, now is the time to settle in comfortably as some locations may be positioned for post-pandemic growth.

In recent news, areas from Little Havana to Coconut Grove may be ripe for investment. There are various factors that investors look at in order to determine where to invest funds. One important element is rental revenue. Due to the latter, many investors have had to cut their losses based on lower returns on some of their assets. Regardless of whether you are dealing with a retail store or a restaurant, investors are now deciding on how and where they will lease, refinance, or sell. So where are they investing? Single-family homes and multi-family units among the top investment avenues with a special emphasis in South Florida areas with densely populated or metropolitan cities and towns in areas.

Value-Based Properties

Investors must weigh their options on how to properly adjust investments and how and where to conserve or financially commit. So what are some of the check-points that identify investable properties or opportunities in commercial real estate:

Best Commercial Investment Types

The downturn on some commercial real estate properties has centered around some specific property types. For example, those that are central to housing have done better.  The housing market has remained close to or exceeded retailers in the state of Florida. That is not to say that commercial real estate whose purpose is allocated to commercial retail or restaurants are a bad investment, it speaks more to how the housing market continues to make larger strides.

Commercial Property that fit the bill for friendly investments are:

Repurposing Properties

Digging deeper, it is important to note that skilled and knowledgeable investors understand the need to repurpose properties. This means that those in possession of investments that seem to be losing value like entertainment or restaurants still have an upside ahead.  It is critical that when necessary, an investor understands the opportunity ahead of them in terms of repurposing a property. The need for good commercial properties is high in South Florida so, if you find a venue or locale that is positioned in a good location for growth, don’t miss the opportunity to invest in that location and re-purpose if for your investment needs.

Now Is The Time To Invest

There are a vast number of opportunities in South Florida so, whether you plan on buying or selling, now is the time.  Location and proximity to urban centers are on the rise and only expected to grow.  Demand will continue to persists so it is a good idea to take advantage of the market and expect to grow post-pandemic. Locations positioned near rapidly growing areas like multifamily units and a hop, skip, and jump from affluent neighborhoods may be the best options ahead.

Need Help Navigating Commercial Real Estate In South Florida?  Call Leah Mayersohn Today.