Shifting Strategies

March 27, 2015

In the retail world, getting deals done means finding the right strategy for the right client. Although the most influential factor in a transaction often comes down to the success of the area or the specific shopping center, Carrie Smith, a regional managing partner with Franklin Street, says class A retail space is increasingly hard to come by and tenants will bid aggressively to secure the right location.

Developer Grabs Rare Coral Gables Land

One of the few remaining pieces of prime developable land in Coral Gables has changed hands. And developers have a plan to build luxury townhomes aimed at empty nesters and retirees.

Perspectives: Elliot Shainberg

“Multifamily property investors are willing to accept lower returns in prime locations such as Coral Gables and Miami Beach, because they see these assets as hedges against inflation, as well as safe long-term investments. Weighing long-term appreciation potential in these areas, investors will accept returns in the 4%-5% range on a cash basis without financing. This is more attractive to them than where their money is currently invested.”

Kentucky’s Glenwood Properties buys Tuffy Auto Center and Dairy Queen

An affiliate of Bowling Green, Ky.-based Glenwood Properties purchased a Tuffy Auto Center and Dairy Queen for $2.35 million.

$2M Gables Deal

Franklin Street Real Estate Services says it brokered the sale of one of the few remaining pieces of prime developable land in Coral Gables. Deme Mekras represented the buyer, developer Michael Garcia-Carillo of GC3 Development plans to to tear down an older apartment building on the site at 635 Almeria Ave. and build five luxury townhomes.