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Investment Sweet Spots in South Florida Commercial Real Estate

As a commercial real estate professional who has worked for decades in South Florida, I was particularly pleased to host three commercial real estate industry veterans on my show to discuss our local infrastructure, as well as the industrial and apartment development landscape in South Florida. 

John Dohm, SIOR, CCIM, CFP, is a partner at Infinity Commercial Real Estate and has been a licensed real estate broker for over 25 years. He also is one of less than 875 people globally to hold both the SIOR (Society of Industrial and Office Realtors) and CCIM (Certified Commercial Institute Member) designations. The importance of South Florida’s airports and seaports can’t be underestimated, he first noted, as they are the region’s driving economic engines. He added that these vital components of our community’s infrastructure are creating a robust industrial development opportunity, as the region is seeing occupancy and rental rates booming in the industrial sector.

We also talked about how the increasing traffic is helping to hasten the trend of population concentration in urban centers. He laid a great foundation for my next guests when he discussed how people are choosing units in apartment projects that allow them to live and work in the same neighborhood. Callum Parrott, executive managing director at Mill Creek Residential, and Jay Jacobson. president of Stiles Residential Group, both  had some very interesting thoughts to share on rental apartment development trends such as this.

They both agree that South Florida is rapidly running out of places to develop new apartment projects. The suburban locations that were the focus of past development cycles are becoming scarce. A number of communities are developing “town-centers” that are seeking to incorporate residential communities similar to Mizner Park in Boca Raton and Downtown Dadeland.

It’s hard to make the numbers work for apartment development currently without having significant density. The trend towards developing an urban downtowns like the central business district of Fort Lauderdale and Miami offers a good example of what we can expect to see more of in the future.

Apartments are enjoying high occupancy and increasing rental rates, so they are offering steady returns. Institutions and high net worth investors alike are flocking to local apartment investment opportunities. Therefore, it’s no surprise that the equity partners who Callum and Jay work with have an “insatiable appetite” for new projects in South Florida.

Don’t forget to listen to archived episodes of the show on our website, www.FriedonBusiness.com, and hear the show every Thursday at 6 p.m. on 880 AM live on the radio, or on your computer via bit.ly/jimlive. You also can receive the weekly newsletter that lists our future show guests, by signing up at https://bit.ly/FriedonBiz. ?

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.