Archives for posts with tag: retail

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The largest company in the Brazilian wallpaper market
Orlean chose Design District to open its first showroom in America.

Friday, April 1, 2016 (MIAMI, FLORIDA) – Fabio F. Faerman and Alexandra Bonti of FA Commercial/ Fortune International Realty assisted Orlean -to find the perfect place for its first showroom in America. The lease transaction represented a value of $1 Million.

Orlean rented a total of 2,010 SF located at 3801 North Miami Ave in Design District. The deal was signed for 5 years. “Our client –Orlean- was looking for the perfect place to open its doors in the USA. We were able to understand their business, work with their needs and find them the ideal place in the ideal neighborhood for them: Miami design district” says Fabio Faerman.

Miami Design District it’s the perfect place for Orlean to open its first showroom out of Brazil. Founded in 1985 in Rio de Janeiro, the company has four stores in the best neighborhoods of Rio de Janeiro and Sao Paulo. Orlean is one of the leading wallpapers and fabrics distributors in Brazil and distributes its products in more than 1500 shops in the whole South America.

Opening this showroom in Miami it was part of Orlean’s expansion strategy. A showroom in Miami Design District, a neighborhood of high-end decoration will contribute to the brand display in America, which one of their main goals it is to establish Orlean as the major Florida wallpaper and fabrics display. They expect to open 15 shops throughout Florida in the next 3 years. Therefore, design district suits to implement their purposes.

Fifteen years ago, entrepreneur and Miami native Craig Robins recognized the potential of the Miami Design District and started acquiring and redefining properties in the area. Through careful stewardship. The Design District began to juxtapose design brands with internationally important art collections, phenomenal temporary and permanent art and design installations, and great restaurants.

Fabio Faerman and his team at FA Commercial are thrilled to contribute to the progress of Miami and the entire South Florida’s commercial real estate market with deals like this. They to offer international and local clients, the most exceptional service, and guidance through the commercial real estate process.

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Mr. Faerman has been Fortune international Realty’s #1 Top Producer Broker for the last three years, and a member of the Platinum Circle of sales for more than 10 years now.

For the third year in a row, Fabio has achieved the recognition as Fortune International Realty’s # 1 Top Broker. Exceptional professional ethics, superior understanding and mastery knowledge of commercial real estate are the qualities that make Fabio F. Faerman a top producer broker with over $500 M in commercial properties sales.

Fabio received this honor on Monday, February 29, 2016, during the annual Fortune Awards Ceremony held at the exclusive Brickell Avenue’s Conrad Miami Hotel. The award was presented by Edgardo DeFortuna, president and CEO of Fortune International Realty, Miami’s leading brokerage firm with a global reach.ea

“This prestigious recognition is a very significant achievement, not only for me but also for my entire team. I am very excited to provide my clients with the most exceptional service, and guiding them through the commercial real estate process with absolutely personalized care” said Fabio F. Faerman.

Fabio is always seeking excellence and performing at the highest level. Being an exceptional leader in Miami’s commercial real estate industry; Mr. Faerman closed the highest overall transaction volumes in commercial property sales and leases becoming the number 1 top producer broker on Fortune International Realty.

2015 was a very active year in the commercial real estate market seeing office sales at their highest levels in years and a decline in the vacancy rate, as well as hotel and retail development increases.  Fabio has made the most of these market conditions leading the sales team of One Flagler, a condo office conversion in the heart of downtown Miami. One year after winning the exclusive sales assignment of One Flagler, the iconic building is 90 percent sold. Constantly a contributor to Miami’s commercial real estate growth, Fabio has brought new and exciting businesses to the city as the one located at Millicento retail spaces in Brickell & Icon Brickell retail spaces. 

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About the Awards
Fortune International Group held once a year the Fortune Awards Ceremony where President and CEO Edgardo Defortuna takes the stage to congratulate Fortune’s top producers. Top producers made 2015 a success with over 4 billion in general real estate and development sales combined.
About Fabio F. Faerman
Fabio F. Faerman is the President & Chief Executive Officer of FA Commercial Advisors – Fortune’s Commercial Division. FA Commercial 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. Fabio has acquired a degree in Architecture from the University of Buenos Aires, a Master’s degree in Construction and Real Estate from the University of Madrid. He is also a Certified Commercial Investment Member and a Commercial Real Estate Investment Advisor.

Press Release Prime May 2015-blog

This past year was one of growth in real estate, not only in South Florida, but all over the country. 2013 marked the first time since the collapse of the market that people truly started to feel a recovery. Putting the microscope over South Florida’s commercial real estate market, the year was littered with events that signaled the current and future expansion of our area. It was difficult to narrow it down, but below we have put together a list of the top five stories of 2013 according to the Top Commercial Blog.

5. Record Setting Deal on Lincoln Road

Lincoln Road is becoming the home for flagship retail and folks are looking to cash in on the trend. This December, Tristar Capital purchased 530 Lincoln Road for $30 million, setting a new record. At 10,000 rentable square feet, the deal amounted to $3,000 per square foot. The expectation is that Tristar will add more two-story, single tenant retail to accompany Forever 21, H&M, and Zara.

4. Swire Proposes 80-Story Tower

It wouldn’t be a countdown without mentioning Brickell CityCentre. This fall, Swire announced that they plan to add an 80-story tower to the already massive project to act as a gateway to the development. One Brickell CityCentre, as it would be called, would add more Class-A office space, condos, retail and even another hotel to the project. Phase one of the Brickell CityCentre is still currently set for completion in 2015.

3. All Aboard Florida Applies for Federal Loan

This past March, All Aboard Florida applied for a loan from the Federal Railroad Administration to begin work on their vision of a passenger rail service from Miami to Orlando. The train would also make stops in Fort Lauderdale and West Palm Beach. Commercial real estate would be a large part of the project, with around $325 million being dedicated to develop about 1 million square feet of commercial real estate. The planned opening of the service would be in 2015.

2. David Beckham Eyes PortMiami for Soccer Stadium

In November, all anyone was talking about was David Beckham’s plans to bring a new Major League Soccer team to Miami. The famed footballer was touring the city, looking for a location to build a new stadium. Then we discovered that Beckham was eyeing PortMiami. A soccer stadium in the port would fit right in with their  master plan for the southwest corner that would include a hotel, retail and office space. If this idea moves forward, Beckham and his team will have to figure out how to better flow traffic into Dodge Island.

1. The Miami Beach Convention Center Saga

If there’s one story with enough action, drama and significance to come out on top of this list, it’s that of the Miami Beach Convention Center. First there was the showdown between South Beach ACE and Portman-CMC for the development deal, but ACE’s victory only marked the beginning. The convention center project became a top issue in Miami Beach politics, leading up to a heated election in November. The vote resulted in more difficulties for the convention center, as any new leases would need to be approved by a super-majority. The drama here is expected to continue well into 2014.

With flagship retail popping up all over Lincoln Road, the pedestrian mall has never been more popular or, through the lens of real estate, more valuable. Until now, of course. This week, the record setting sale of 530 Lincoln Road gave us a glimpse into the area’s impressive future. The property was sold to Tristar Capital for $30 million.

South Beach, even with its luxurious retail market, has yet to see a deal like this. At 10,000 rentable square feet, the deal amounted to $3,000 per square foot. The building is an optimal site for redevelopment as the ground-floor is currently housing two short-term leases.

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530 Lincoln Road

The property, which was once owned by the family of The Miami Sound Machine’s own Gloria Estefan, was sold in 2010 to local business, Lincoln 530. Lincoln 530 purchased the building for $12 million and first began testing the market in March of 2012. At the time, they opened with an asking price of $28 million. The final sale ended up exceeding those grand expectations.

Tristar Capital is expected to request the city for permission to add 3,000 square feet to the building. Although, the property could easily be leased to multiple tenants, the opportunity exists for Tristar to take advantage of a recent Lincoln Road trend: two-story, single-tenant retail.

Recent notable retailers to open mega-stores on Lincoln Road include Forever 21, H&M, and Zara. In fact, 530 Lincoln is located directly across the street from the former Symphony Building that is now home to H&M’s flagship store. With the amount Tristar has invested in the property and the recent activity on Lincoln Road, expectations will be sky-high for 530 Lincoln.

Envision, if you will, a stadium in Miami that actually manages to represent the luxury that the city has to offer. If you were to do so, you might imagine attending a sporting event in which the vibrant environment is contrasted with a view of the calm waters of Biscayne Bay and nighttime events accentuate the glittering Brickell skyline.

This is also the vision that David Beckham’s group, Beckham Brand Limited, has for their potential Major League Soccer franchise in Miami.

As many local soccer enthusiasts may have heard, the group has been scouting locations for a 25,000-seat stadium for quite some time, with Arquitectonica as the rumored choice to design and plan the project. Though the group has surveyed around 30 potential sites, one has generated enough interest to inspire talks with Miami-Dade County.

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PortMiami has been interested for quite some time in creating a better connection with the mainland

According to the Mayor’s office, Beckham’s group has asked them to consider allowing the stadium to be built in the southwest corner of PortMiami in Dodge Island. PortMiami has been interested for quite some time in creating a better connection with the mainland. A soccer stadium may fit perfectly with their 25-year master plan for the southwest corner that would include a hotel, retail and office space.

25 acres would be available for the group to lease and build on, but the location raises some questions. For one, the port is only accessible through Port Boulevard and the Port Tunnel that is scheduled to open next year. Adding the event traffic to roads already clogged with cruise ship travelers on weekends may add up to a local nightmare. Similarly, the issue of parking would cause a major stir, though the idea to build an underground garage like that of the American Airlines Arena has been discussed.

Either way, the discussion between Beckham’s group and the county has just begun and any plan would eventually require approval from the Miami-Dade County commission. As a matter of fact, MLS has yet to formally announce an expansion franchise for the city of Miami.

However, a professional soccer stadium built with private money could be a boon to the local economy and provide a large opportunity for retail in the underutilized PortMiami area.

This summer we discussed the battle for the future of the Miami Beach Convention Center between developers Portman-CMC and South Beach ACE. In July, beach commissioners decided that they agreed with South Beach ACE’s vision for the future of the convention center district. Little did the city know that at as quickly as one battle would end, a more onerous one would begin.

Tomorrow, when the voters of Miami Beach visit the polls, they will face a choice between candidates who would like to see the South Beach ACE vision through and those who would like to see the project scaled down. Citizens will also be voting on a referendum that could move the amount of votes to approve the convention center project from a simple majority to a super majority, requiring 60 percent of the vote and making the project more difficult to pass.

However, most agree that the issue is not whether the convention center should be renovated at all, as it clearly needs an update. The convention business is a key contributor to the tourism dollars that are the foundation of the city’s revenues. The city cannot afford to let that activity slide down.

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Rendering of the proposed Miami Beach Convention Center renovation

The real debate is in regards to whether the project is worth the bill to the taxpayers or if the vision is too grandiose. If the project were to stay as is, taxpayers in Miami Beach would be on the hook for $600 million. An amount that would be covered by a pre-approved increase in hotel taxes, as well as land leases and county taxes.

The 800-room hotel proposed by South Beach ACE has also been the center of quite a bit of controversy. If approved, South Beach ACE would lease public land for 99 years in order to build a hotel for the convention center, as well as 90,000-square feet of retail. Some city officials worry that 99 years would be too long a period for the city to lease such important land.

High-end hotels have also taken issue with the idea of making the hotel a place where convention-goers could escape some of the higher hotel rates in the beach area. The Fontainebleau, for example, has donated $15,000 to Let Miami Beach Decide, an organization supporting efforts against the current plan. Beach Commissioner Jonah Woflson, who set up the Let Miami Beach Decide movement, agrees with the Fontainebleau’s motives, claiming that Miami should stay “a high end destination.”

Either way, the saga of the Miami Beach Convention Center renovation continues to captivate with every new chapter it enters. This week will be the biggest milestone yet for the future of the project. All eyes in Miami-Dade County will be on the voters in Miami Beach tomorrow.

For more on the politics behind tomorrow’s decision, take a look at this article from the Miami Herald.

This past week Miami Today spoke to FA Commercial Advisor’s very own, Fabio Faerman to get his perspective on the booming real estate market in Miami’s downtown area. Faerman divulged some interesting tidbits for investors interested in the future of Brickell.

Take a stroll down the streets of downtown Miami these days and it is easy to see that times are once again changing. While South Florida may have experienced one of the largest busts in the real estate crash years ago, the recovery, particularly that of the Brickell area, may be one of the most rapid in the nation. Several sites are set for demolition and construction cranes have now become the “unofficial bird” of our city. Existing buildings are chipping in, too. Many office buildings have begun pouring millions of dollars into upgrades.

Faerman says that all of this excitement is attracting celebrities, financial advisors and families alike to move downtown and experience life on Miami’s sunny shores. Faerman receives calls from buyers looking to invest in Brickell about one to two times per day.

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The beautiful Brickell skyline

Last year, a buyer purchased a package from Faerman that included the landmark Tobacco Road, River Seafood & Oyster Bar, as well as six parcels on Seventh Street for $12.45 million. With values currently sky-rocketing, Faerman estimates that the same assemblage would be sold for double that amount this year.

Those are prices that buyers these days are more than willing to pay, if the investment properly fits their objectives. For example, this past summer Swire spent $64 million to acquire 700 & 710 Brickell in order to build One Brickell CityCentre, the 80-story gateway to their $1 billion Brickell mega-project. Faerman believes this deal was good for Swire because it gave them the Brickell Avenue frontage that their project needed.

Faerman touted a river-facing site behind Brickell CityCentre that could have that type of value for the right buyer. The 2.52-acre off-market property would give a potential investor the opportunity to create a mixed-use project of up to 1.98 million square feet. The owners are seeking a buyer in the range of $100 million for this site, which Faerman says has, “huge potential.”

This summer, Swire acquired the rights to the 1.5 acre site at 700 Brickell Avenue for $64 million. We all knew that their plans for the property were big. Now it turns out those plans could actually be the largest that Miami has ever seen.

Swire has proposed a project to the City of Miami that, if approved, could end up becoming Miami’s tallest building and easily the tallest project currently under construction in the crane-flooded streets of South Florida. One Brickell CityCentre, the proposed 80-story tower, would be connected to phase one of the CityCentre project in downtown and would be covered by the project’s climate control trellis.

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Rendering of One Brickell CityCentre

Designed by Arquitectonica, the tower would add more Class-A office space, condos, retail and even another hotel to downtown’s development. Upon completion, One Brickell CityCentre would be seen as the gateway to the entire mega-project. The tower would be built not only on the 700 Brickell site, but also on the Eastern National Bank building property that Swire acquired in 2011 for just over $13 million in 2011, combining for a total of 2.7 acres of land area ready for development.

Swire has estimated the total economic impact of One Brickell CityCentre at $851 million. The project would create over 2,000 construction jobs at peak manpower and nearly 2,500 permanent jobs once it is completed according to an analysis by the Miami Economic Associates. They also project the tower to bring in over $137 million in sales tax to the state of Florida.

The hope for Swire is that the city will approve One Brickell CityCentre as an extension of the current project. If this were to happen, it would save them the trouble of going through a new grueling approval process with the City of Miami. Phase one of the Brickell CityCentre is still currently set for completion in 2015.

Walgreens signed on to the Department of Energy’s “Better Buildings Challenge” with the goal of reducing their energy use by 20 percent by the year 2020. This November, they will be taking such a large leap towards that goal, it may raise the bar for retailers across the nation.

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Rendering of net zero Walgreens in Evanston, Ill.

The first “net zero energy” Walgreens is currently being prepped to debut on November 21 in Evanston, Ill., just north of Chicago. Walgreens hopes that their experimental new store will actually produce more energy than it uses. In order to achieve this goal, they will be putting an abundance of progressive ideas to the test.

For one, the city of Evanston passed an ordinance allowing Walgreens to place 37-foot-tall wind turbines in their parking lot. The store’s sloping roof will consist of well over 800 solar panels used to harness solar energy. However, perhaps the most intriguing piece of the puzzle will be the geothermal energy system hundreds of feet beneath the store. The system will consist of five geothermal wells, dug approximately 500-feet below the store’s foundation, that will utilize energy from subterranean temperature shifts to provide heating and cooling.

If all of these technologies live up to their expectations, engineers estimate that the Evanston Walgreens will use around 200,000 kilowatt-hours of electricity over a year while generating 256,000 kilowatt-hours over the same period of time.

Of course, this project is not without it’s own risks. The construction cost of the Evanston Walgreens will be about twice as much as construction on a typical Walgreens. However, the executives plan to recoup their expenses through a myriad of different resources. For example, they will be taking advantage of rebates from utility companies as well as federal government tax credits. Most importantly however, Walgreens hopes to recoup costs through the energy savings that the store will provide them with.

Either way, this store will become a test for which energy technologies are the most cost-effective. Once the folks at Walgreens determine that, they will be set to develop a prototype for 100 additional stores made in the Evanston image. If Walgreens, a store where you can pick your favorite ice cream out of a freezer while you wait for your photos to develop, can find a way to generate more energy than they use, it will set a new standard for all retail.