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Virgin Trains USA makes progress along State Road 528
BREVARD COUNTY — Drivers who frequent State Road 528 have probably noticed the increase in construction along the expressway, as Virgin Trains USA works to build tracks connecting Orlando International Airport Terminal C to Miami. The 170-mile extension is expected to be completed by 2022, or early 2023, and the...
Jan 30, 2020
Here's early glimpse at world-renowned planner's take on Vero Beach's Three Corners
After seeing all the amazing ideas on SpeakUpVeroBeach.com about what to do with the three corners Vero Beach owns at 17th Street and Indian River Boulevard, plans proposed Monday night by the city’s consultant seemed nice, but relatively conservative. I expected several “OMG!” moments from Andrés...
Jan 30, 2020
A Detailed Look at the Multi-Tenant Retail Space
In our exclusive talk with Stan Johnson Co. associate director, Ryan Roedersheimer, we learn about all things in the net lease space, including an uptick in private investors, single-tenant versus multi-tenant, what subsets are performing well and more. GlobeSt.com: What is an interesting trend you’re seeing in the...
Oct 2, 2019
'Just Wait Until the Next Hurricane': Florida's New Insurance Law is Conjuring a Storm
Every time Santa Rosa Beach restoration contractor Ken Larsen submits a request for payment, he braces himself. It’s always a fight, Larsen says, that rumbles for weeks, months, years, catapulting between 40% and 80% of his annual earnings into limbo. And now, a new law passed in Florida on May 23 might...
Sep 12, 2019
A Closer Look at Soft Costs in Commercial Development
As part of our “series” breaking down commercial development costs, let’s take a closer look at the soft costs associated with the commercial real estate development process. What are Soft Costs? Soft costs are those that are not directly related to the physical construction of the building. Many of these costs...
Sep 12, 2019
Affordable housing for minimum wage workers doesn’t exist
According to the report, fair market rent for one-bedroom rentals in 99 percent of counties in the U.S. are not affordable—with affordable defined as 30 percent or less of a renter’s income—for a full-time minimum wage worker; there are currently 1.8 million people making minimum wage or less. While the federal...
Sep 12, 2019
Strong US Job Growth Seen as a Positive Sign for Commercial Property
The U.S. labor market’s addition of 224,000 net new jobs in June, blowing past expectations and marking the nation’s 104th month of uninterrupted employment gains, is seen as a positive sign for commercial real estate. The national employment report released by the U.S. Department of Commerce was surprisingly...
Sep 12, 2019
Buying Contaminated Property Without Liability
Buyers of real estate and their professional advisors are all too familiar with the Phase I Environmental Site Assessment (ESA). Born out of the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), 42 U.S.C. §§ 9601, et seq. (commonly known as the Superfund law), the Phase I ESA is a report...
Sep 12, 2019
CRE Property Prices Still Reaching for the Peak
Ten years into this expansion cycle and properties are continuing to post impressive price growth. Property price growth rose 1.1 percent in May from April, the biggest monthly increase since early 2015, according to the latest U.S. National All-Property Index tracked by research firm Real Capital Analytics (RCA)....
Sep 12, 2019
Rules Not Ready, the Clock Ticks for Opportunity Zones Investments
WASHINGTON, DC—The rules are not completely finalized for Opportunity Zones—yesterday the Internal Revenue Service held a hearing on the subject with testimony provided from several industry sources—but investors that are interested in these tax-advantaged tracts are still working against the clock. Decisions...
Sep 12, 2019