Archives for posts with tag: business efficiency

Heater

Fabio Faerman represented the landlord in the signing of a Multi-Year lease for ‘Eat Greek’ new location in Brickell Avenue.

Fabio Faerman of Fortune International Realty / FA Commercial represented the landlord in this lease transaction.  

The space area is located next to La Provence in 1060 Brickell Avenue. This deal was signed for a 10 years lease plus 1/5 year option. Mr. Faerman led this second generation lease transaction from conception to execution, representing a total value of $2 Million.

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Eat Greek is an authentic, affordable Greek restaurant. This casual restaurant opened its first spot in South Beach then an expansive sibling in Edgewater, and now in the heart of Brickell Avenue. Decked out with murals of ancient gods, a vertical herb garden and a real Greek atmosphere gracious, friendly and hospitable. The varied menu hits all of the Hellenic highlights, from hummus, baba ghanoush, souvlaki and gyros to lamb chops and branzino.

Brickell, a premiere Live, Work, Play destination in south of Florida it’s a rapidly-growing area just south of downtown that is central to the city’s banking culture—and, increasingly, Miami’s culture at large. Brickell personifies the new Miami: it is rich, multicultural, and intensive, having become an “overnight neighborhood” of gleaming skyscrapers whose designs and coloration reflect the coral blue waters of Biscayne Bay.

Fabio Faerman and his team at FA Commercial are thrilled to contribute to the progress of Brickell and the entire South Florida’s commercial real estate market with deals like this. Recently, Mr. Faerman proudly assisted on the closing of many deals such as Cipriani, a luxury restaurant owned by the sons of famed restaurateur Giuseppe Cipriani. Coya Restaurant already renowned in London and Dubai, Coya is an authentic yet modern Peruvian restaurant. La Cantina # 20 refined Mexican fare in a glitzy space with outdoor patio & authentic curios at the heart of Brickell. Mizzen Plaza a strip mall strategically located in between Coconut Grove and US1, the strip mall is next to Coconut grove metrorail station.

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About FA Commercial Advisors
FA Commercial Advisors provides a complete range of commercial real estate brokerage services – including owner and tenant leasing, acquisition and sales, marketing and consulting – to owners, investors and lessees of all property types. With an extensiveinternational network of real estate professionals throughout the world, we offer local market knowledge on a global level.
About Fortune International Realty Commercial Division
The Commercial Division was created to offer specific advice and service to sophisticated clients, searching for a deep understanding of real estate businesses. This division has the purpose of coordinating and providing services to Fortune International Realty clients as well as residential and commercial associates interested in pursuing commercial real estate transactions.

Contact Information:
Fabio Faerman • CCIM • MBA • Broker Assoc.
Cell/WhatsApp +1.786.262.9966 • Office 305.400.6395
commercial@fir.com • www.facommercial.com

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Orlando City Soccer Club behaves like a real business

Mark R. Howard | 8/27/2015

With all due respect to the U.S. women’s World Cup soccer team and its world championship run, my favorite sports story this summer was a soccer story from Florida.

The Orlando City Soccer Club is the creation of Phil Rawlins, a businessman from the U.K. who settled in Orlando, and a Brazilian businessman, Flavio Augusto da Silva. Beginning in 2010, they operated the team successfully in the (lower level) North American Soccer League while seeking a Major League Soccer franchise, which they got in 2013. Orlando City signed a well-known Brazilian midfielder named Kaká to provide some start power and began MLS play in March, using the Citrus Bowl as its temporary home field.

Fans have been raucously enthusiastic. Orlando City sold out its entire offering of season tickets for 2015, and more than 60,000 attended the first MLS game. The team has been at or near the top in average attendance among MLS teams since then. Orlando City has marketed itself and Orlando vigorously as the “soccer capital of the South.”

Good for Orlando City. Good for Orlando.NewStadium

And now the part of the story that made it my favorite.

For better or worse, the owners of sports franchises in America have been able to leverage their teams’ visibility into claims on the public purse. By one accounting, professional football, baseball, basketball and hockey teams around the U.S. have received some $20 billion in subsidies for new facilities since 1990 – despite decades’ worth of studies and consensus among economist that the economic impact of sports stadiums is minimal and a bad deal for taxpayers. Eight Florida pro teams receive various kinds of state subsidies.

The ownership of Orlando City wasn’t shy about seeking public assistance for a permanent home field. It put together a deal with the city of Orlando and Orange County for a $115-million facility with about 20,000 seats. The city and county together went in for about $35 million to purchase and prepare a site.  Meanwhile, the team went begging to the state for $30 million, lining up with the Jacksonville Jaguars, Miami Dolphins and International Speedway Corp. (NASCAR’s owner), which all want taxpayer funds to expand or upgrade their venues.

A funny thing happened on the way to the public trough. The legislature got so caught up in trying to keep poor people from getting federal Medicaid money that it didn’t get around to the law that doled out to the wealthy team owners.

Orlando City could have done what the Jags, the Dolphins and NASCAR will likely do – double down on lobbyists and go back to Tallahassee next year. But it didn’t. The team had already begun to believe the market could support a stadium with 5,000 more seats than it had planned. And rather than wait on state funding, Orlando City decided that it would just build the stadium on its own, without taxpayers’ money.

The team is buying the stadium site and paying the city and county back what they spent for the land and improvements. It will finance its $130-million facility, own it and control all the associated revenue streams – concessions, fees for hosting other events, naming rights, etc. Like a real business.

Orlando City made it clear in announcing its decision that it didn’t have anything against public money and wasn’t trying to be the poster team for a new approach to stadium funding. Its decision was driven by its own needs, it said.

But in behaving like a real business, the team highlights what’s always been true – sports teams can operate with a lot less help from the government than they deserve. Incentives for firms creating jobs that pay well and broaden a community’s economic base are one thing, but why should taxpayers subsidize wealthy owners for whom the teams are basically toys? Some business groups, quick to complain about government “over-reach” and fiscal irresponsibility in some contexts, are silent when it comes to giving taxpayers’’ money to billionaires.

Those who make the argument that a city isn’t somehow validated until it has a professional sports franchise might consider Austin. The fastest-growing big city in America, Austin has focused state and local incentives on the tech industry and now has a tech sector any city in the country would kill for. The lack of a professional sports team doesn’t seem to have hurt either its development or sel-image.

Consider, also Jacksonville, which won’t be a great city until it develops its downtown, regardless how Jaguars perform. Or St. Petersburg, where the presence of the Tampa Bay Rays has been a non-factor in the emergence of a world-class-downtown. And where the city is beginning to realize that the 80 acres where Tropicana Field sits could generate a bigger economic bang as a tech hub than as a baseball field.

Meanwhile, Orlando City isn’t the only soccer franchise that has decided to pay its own way. The Los Angeles Football Club, an MLS expansion team slated to begin play in 2018, also has announced plans for a stadium – 22,000- seats, $250-million – that will be privately financed.

It may be that we’re entering an era in which communities have different notions of quality of life than before – a football or baseball team is a nice asset, but so is an arts community, good schools and a thriving entrepreneurial community. Doesn’t a team need a great city as much as a city needs a team? What does it say about a place if it has to bride a billionaire into staying put?

Orlando City’s decision to invest its own money in a stadium is about the best vote of confidence that the city of Orlando could get. The team may not establish a new template for all-private stadium financing, but they’ve shown that it’s possible. And the fans who come to the new stadium can enjoy the games secure in the knowledge that Orlando City didn’t have to squeeze other taxpayers to put their team on the field.

Originally published on

Florida Trend - The website for Florida business

Fabio Faerman Closes Bulk Sale Of Miami Condo Units For $6.7 Million

Aug 12, 2015
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FA Commercial’s Fabio Faerman closed a $6.7 million bulk deal for a total of 21 units at Mint Condominium, located at 92 SW 3rd Street in Miami.

Faerman was the broker of record in the all cash transaction.

The deal represented an opportunity for the buyer to acquire a large number of units in the prime downtown building, strategically located in the epicenter of Miami’s flourishing cultural arts scene.

Situated on the eastern side of downtown Miami, Mint at Riverfront was built in 2010, designed by the renowned Revuelta Vega Leon  Architects and developed by Key International.

Mint – Press Release

Education is key to success “If you have knowledge and you work hard I believe you can accomplish anything.”  saidFabio Faerman – Fa Commercial’s CEO – in an interview with The MIAMI REAL ESTATE SHOW.

We invite you to view the whole interview here. Enjoy!

Univision Noticias interviewed Fabio Faerman regarding Beckham Group new MLS stadium in Miami.

Watch the interview now:


Energy efficient fittings and fixtures will be part of the $300 million redevelopment of Highpoint Shopping Centre in Maribyrnong. 
Photo: Matthew Bouwmeester

WHILE there has been a lot of focus on green building in the office sector, the retail market has also been making its mark.

Angus Gordon, development manager, sustainability & operation at GPT Group, said retail property was often compared to the office sector but differed in its approach to sustainability.

”In the retail sector, you tend to be dealing with a smaller number of assets – there’s fewer big shopping centres around than there are offices, so you don’t get that same level of movement across those different buildings,’‘ he said.

Mr Gordon said retail was more focused on business efficiency and providing better community space. ‘‘You’re not dealing with tenants who are always comparing your building to another building that they’re trying to choose between,” he said.

‘We face very different drivers in the retail market, as opposed to the office market, where some of those drivers are a bit more black and white – and easier to sell.”

Mr Gordon said GPT’s approach to sustainability focused on social sustainability – engaging with the community – as well as the environmental aspects.

GPT recently began the $300 million redevelopment of Highpoint Shopping Centre in Maribyrnong, under which the centre will grow by about 30,000 square metres.

Mr Gordon said features included energy-efficient fittings and fixtures, particularly with lighting, detailed energy and water metering, as well as natural ventilation and rainwater harvesting.

‘We’re working with Sustainability Victoria to improve the sustainability performance of Highpoint overall – not just the expansion,” he said.

Although a sustainable approach was a key driver in retail development, he said, there were challenges.

At Charlestown Square in New South Wales, GPT had installed a co-generation plant and solar thermal cooling plant.

”When you’re doing something different, you need to demonstrate to [tenants] that you’re not putting them in a worse-off position,” he said.

”Tenants have got a lot of drivers that go into determining which shopping centre they will go to and it’s not necessarily going to come down to ticking a box on sustainability.”

Being able to demonstrate and prove operational efficiency was an important part of engaging tenants.

For instance, Mr Gordon said, GPT’s Rouse Hill Town Centre in NSW had operational savings of $3.8 million per year, compared with a similarly sized NSW shopping centre.

‘When you can start to put those sorts of numbers on the table for the asset, then you start to be able to sell the benefit to the tenants,” he said.

”Sustainability is about smart, clever, innovative design, and if on delivering that successfully we deliver a centre that … is a better place for tenants to be, then they appreciate the benefits that can come with that.”

Victorian Property Council executive director Jennifer Cunich said new buildings accounted for only 3 per cent of the building stock. ”The Property Council’s main game is to transform existing buildings,” she said.

Combined with an emissions trading scheme, Ms Cunich said, the Property Council advocated for complementary measures such as gross feed-in tariffs for the residential and commercial sectors, and public-private partnerships for buildings.