[Re-sent] Rise Realty Blog Page

April 9, 2018

Good Morning! Monday Motivation:

Many of life’s failures are people who did not realize how close they were to success when they gave up. — Thomas Edison

 This E-Commerce Giant Thinks Supermarkets And Department Stores Are The Future Of Logistics Property 

• Berlin-based Zalando is one of the world’s largest fashion-focused e-commerce firms, with a market capitalization of €11B and 2017 revenue of €4.4B. It sells products directly to consumers and also acts as an online platform for other retailers. 

• “It is something the real estate sector should think about, as well as shops and residential adding multi-let industrial. The growth in online retail is one of the biggest changes to happen to the real estate sector, and more mixed-use in city locations would help.†said Paetzmann

• Multi-let sites is being driven by changes in technology and data.

Feds Hike Threshold For Appraisals Tied To Commercial Real Estate Loans

Deals below $500k won’t require certified appraisal, instead of previous $250k limit

• An inter-agency group of regulators decided on Monday to raise the threshold for commercial real estate deals that need approval from a state-certified appraiser from $250,000 to $500,000.

• Raising the threshold “will materially reduce regulatory burden"

• Regulators originally proposed raising the limit to $400,000 to keep it in line with inflation.

Meet The Woman Tasked With Leasing Up Brickell City Centre's 500K SF Of Retail

• The 120 doors at Brickell City Centre are 90% leased already.

• Overholt is hoping to lure quality purveyors of linens, kitchen and bath items, and children’s goods.

• On a prior Italy trip, Overholt found the inspiration for what would become La Centrale, the center’s 40K SF food hall, which opened this year. 

• Swire Properties Inc. had negotiated with the city to make Brickell City Centre part of a Special Area Plan, which would allow signature architecture and signage.

• Overholt brought Saks Fifth Avenue into a 107K SF space as an anchor tenant. She also signed Zara and CMX, a Mexican-based VIP movie theater. At the four-level complex, Overholt said, luxe brands wanted the street level. The second floor was for premium brands. The third and fourth floor are for food, beverage and entertainment.

• Overholt suggests focusing on entertainment and offering a unique experience. She uses digital marketing to activate new products and create destination events.

Financing totals $112.1M for the 20-story, 71-unit building

• One Park Grove is the third and final tower of the Park Grove Project that includes Two Park Grove and the Club Residences.

• One Park Grove, a 20-story, 71-unit building at 2701 Bayshore Drive, is about 50 percent presold, according to the South Florida Business Journal, which first reported the financing. Units will range from about 3,700 square feet to 7,500 square feet and prices start at $4 million.

• The 297-unit, three-tower complex will feature a 3,500-square-foot restaurant by Miami restaurateur and chef Michael Schwartz, a gym, spa, sauna and steam rooms and a wine tasting room. It was designed by Rem Koolhaas.

• Terra and Related paid $55 million for the 5.2-acre site in 2013, which included the Coconut Grove Bank headquarters.

• Prior to the Bank of the Ozarks loan, they secured about $174 million in construction financing for Park Grove between 2013 and 2015.