Miami Center Downtown with Condos For Sale

Miami Beach, Florida – The Miami Beach Condo Real Estate market views all the business news that is positive. If there are more and more retail properties and entertainment showcase property investments well that bodes well for the buyers of Miami Condos and Homes. The recent announcement of the forthcoming Miami Center sale bodes well for the investment sales market. The Miami Commercial Real Estate market has its own movements compared with the surrounding Florida real estate market.

Foreign Money and Domestic Funding To Invest in Miami Real Estate

Crocker Partners is on the verge of acquiring the Miami Center and that could be the impetus needed for more commercial properties to hit the investment sales market. The Miami Condos For Sale will be much more attractive to investors with improvements in commercial real estate. The 782,210-square-foot property at 201 South Biscayne Boulevard is currently owned by the Sumitomo Corporation and has been on the market since January.

Office Market and Condos in Miami Area

The possible sale of the Miami Center to Crocker bodes well for the office market for the balance of this year as noted by the Jason Shapiro. Jason is  the managing director at The Aztec Group, a real estate investment banking firm. “I would imagine that the Miami Center sale would be the catalyst for others to be announced shortly.”

Though no other high-profile towers are currently on the market, brokers say they expect to see more of them up for sale. The success of new office properties at 1450 Brickell and 396 Alhambra, combined with the interest expressed by Crocker, Genting and other respected investors in Miami commercial towers foretell renewed interest from other institutional investors.

Retail Properties to Fuel Miami Condo Owners Needs

While big-box retailers like hhgregg have received much of the attention in Florida’s improving real estate market in recent years, it’s the small spaces that are driving local retail in areas like Miami. Many Real Estate Brokers in Miami feel this is providing the necessary shopping space for Condo Owners.. The trend of small leases has been particularly strong in the restaurant sector in areas like Midtown and Sunset Harbour where eateries believe they can get a more bang for their buck in a smaller space – that is, under 10,000 square feet.

Size of New Restaurants Not Necessarily Large

Part of the reason for tenants’ new size preferences has been an influx of foreign restaurateurs, accustomed to smaller spaces in their home countries, replicating their formulas in Miami and Miami Beach. Some restaurant specialists believe that the depth and quality of a meal does not need to be surrounded by a overly large space to be sufficient. The less is more can work when speaking of high quality food in Miami? The Miami Condos owners need to have the availability of various restaurants types to satisfy their palettes.

Miami Dade County Real Estate Selling

We see for these Miami tenants, it’s their prototypical size. It’s been a very active market for their leasing. For example Salumeria 104 is the latest small space for Sbroggio. They have opened similar-sized restaurants across the Miami area, including Spris, and Segafred. Both of which have multiple locations in the Miami and Dade County area.