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2 commercial real estate properties sold in South Florida

Selling and buying a property in Florida can come with many difficulties. This is because the world of commercial real estate can be complex, especially if multiple parties are involved. Both sides may hit a brick wall, for example, when trying to negotiate during the real estate transaction. However, being prepared for each stage of the deal by understanding the law can help a person to overcome such challenges.

One company recently sold two buildings for $19 million in the Miami neighborhood known as Edgewater. This turned into a profitable transaction for the company, since it purchased the buildings in 2005 for the significantly lower amount of $12.6 million. The company which sold the properties is led by a developer and architect.

Commercial real estate market booming in South Florida

During the Great Recession, some of the most depressed areas of the United States suffered from a scarcity of jobs and a dying real estate market. Since then, many parts of America have rebounded, and South Florida is no exception. Statistics show that now is a prime time for developers and real estate buyers to take advantage of commercial real estate opportunities in the Sunshine State.

According to the Federal Reserve Bank, South Florida has a strong real estate market as well as continued job growth. In fact, the outlook for this part of the state appears to be more promising than that of the rest of the southeastern part of the United States. In addition, the national unemployment rate is 6.7 percent, while that of Florida is 6.2 percent.

Multi-family housing commercial real estate deals promising

The multi-family housing market is on the upswing in Florida. For a while now, the main focus has been on single-family homes in the state. However, many of these inexpensive homes are now being bought up, and apartment complexes are taking center stage. When working to construct a new building in Florida or engage in a commercial real estate transaction, the process can be complex and challenging, yet fruitful, if a person has a thorough understanding of the law.

A large inventory of unoccupied single-family houses recently caused apartment buildings' values to drop. However, now these complexes are being sold for better prices. In fact, an apartment complex is now being constructed in Fort Myers for the first time in more than eight years; 2005 was around the time when the construction industry began to go belly-up in the state.

Commercial real estate market still promising in Florida

Developing land in anticipation of creating a totally new building may be an exciting endeavor for a company. However, land development also might involve several hurdles, particularly if both parties at the negotiating table have different ideas of what should happen. Nonetheless, if a business in Florida is willing to face these challenges head-on, it can take advantage of promising commercial real estate opportunities in our state.

Office vacancies are still high today in Florida, particularly in Palm Beach County. However, less and less space is becoming available in the area's most desired buildings. In fact, the rate of vacancies in Palm Beach County dropped from more than 21 percent to a little less than 20 percent from 2012 to 2013.

Commercial real estate transaction involves Florida strip mall

When a business is sold in a Florida community, the effects can be positive and far-reaching. However, the process of getting to that point may be complex and overwhelming to those involved in the commercial real estate transaction if they lack the proper guidance and do not understand the law. One Florida business owner recently sold his company for a profit -- a transaction that will have many benefits in that area.

The owner of a strip mall recently sold the business, known as Cedar Plaza, in Manatee County. The sale of the business may be appealing to customers who frequent businesses and restaurants in the mall area. This is because up to three new businesses are slated to fill vacant spots in the mall. In fact, nearly 6,000 square feet is available for other businesses to lease in the mall.

Florida a site for commercial real estate transaction growth

With spring around the corner, many businesses are embracing new opportunities to break ground and grow their enterprises in 2014. In Florida, breaking ground can be challenging, however, due to the many aspects of a commercial real estate transaction that have to be negotiated and properly addressed. Many companies were able to successfully complete these deals in South Florida, which is becoming a popular place for regional operations and headquarters.

In Florida, big parcels have been bought and preserved for development on a large scale. Some of the largest real estate transactions recently include the pharmaceutical company Unipharma's purchase of the Tamarac site for $9.7 million. Another major deal was Larkin's purchase of a 48-acre area for a medical school campus.

Florida commercial real estate growth stifled by strict lending

Going through a commercial real estate transaction can be exciting when progress is made, but it also can be frustrating when things don't go as planned. Disputes are one of the biggest roadblocks to a successful commercial real estate deal, and prolonged negotiation is often necessary to attempt to reach a solution that both parties agree on. Currently, another major roadblock in Florida appears to be commercial lending.

Lenders today seem to be getting more stringent than they were in the past when qualifying applicants to borrow funds for commercial deals. Virtually perfect credit is necessary in order to get the best deals. As a result, many borrowers are being turned down, which officials say is hampering the state's recovery from the recent recession.

Commercial real estate transaction rate could increase in Florida

Developing land can be an exciting venture, allowing one party to create a building that can generate profits and positively contribute to its bottom line. However, amid the excitement that comes with commencing such a project, it is natural to face a myriad of challenges. For instance, the party may find it challenging to see eye-to-eye with another party during negotiations related to the commercial real estate transaction. With the commercial real estate market particularly prime for a boost in the near future in Florida, these kinds of challenges certainly will be inevitable at times.

International investors recently have been drawn to Florida's commercial market. Likewise, homeowners who are interested in taking up residence downtown instead of in the suburbs are driving attention to the state's residential real estate sector. What specifically makes the state so appealing to businesses and people with large sums of money is the fact that Florida has no income tax.

Real estate dispute involves Florida Native American site

Imagine a huge eyesore of a sight. Then, imagine a large hotel and movie theater being erected in this spot. To most people, the construction seems like a productive use of the space -- one that will benefit consumers and the local economy alike in Florida. However, in a recent case, the "eyesore" sight is a prehistoric village of the Native Americans, thus sparking a real estate dispute.

The situation involves archaeologists and real estate developers, who remain at odds over the best use of the Miami property. The question is whether the remains of Native American society should be preserved or whether the area should be revitalized. Proponents for constructing new buildings in the area say this will help to make the city great.

Commercial real estate deal could lead to 300 new Pensacola jobs

When attempting to construct a brand new facility, a variety of hurdles may crop up. For instance, coming to an agreement with city officials on a commercial real estate deal can be challenging in some cases. In Pensacola, however, plans for a new $37 million project appear to be moving forward and should end up bringing hundreds of jobs to the area.

The work is being done at the Pensacola International Airport, where both private and government funds will cover the construction of a large aircraft maintenance facility on nearly 19 acres of land owned by the city. The city recently reached a tentative agreement with company ST Aerospace to build the facility. City officials have signed a memorandum of understanding with the company, which repairs commercial aircraft.