MIAMI-The cranes are back, multifamily is still hot and it's time to take a risk on Florida. At least, that's what our featured industry female says this week: Margaret Nee, 2013 CREW-Miami President and Vice President of Development at Pointe Group Advisors took her time in the hot seat and answered a few questions on her market and her CREW-Miami position.
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1. GlobeSt.com: Congrats on your appointment as CREW-Miami president. What do you hope to achieve in your role this year?
Nee: 2012 has been a record-setting year for CREW-Miami with our membership growth and fundraising numbers reaching new levels. Our members continue to close deals together, which shows the power of building strong business relationships through our CREW-Miami platform. Every month, we see several examples of members coming together to execute a deal or advise each other on a complex transaction.
With South Florida's real estate market continuing to strengthen, we see 2013 as a promising year for the commercial real estate industry. The cranes have returned to Miami with numerous large mixed-use projects, as well as multifamily, industrial and office developments rising and others soon to get off the ground. With this increased investment in Miami's commercial real estate market comes new opportunities. Our theme this year is to empower our members to “Drive the Deal.” The idea is to seize the new opportunities Miami's stabilizing real estate market is creating and position businesses for further growth.
2. GlobeSt.com: What is your view of the Miami market in 2013? Any ideas as to where it is headed and what we can expect?
Nee: After a challenging few years for Miami's residential and commercial markets, we have seen stabilization in sectors such as hospitality, industrial, retail and multifamily.
Hotels in South Beach are being acquired by well-heeled investors, retail assets are trading for record-setting prices and major developments like Hong Kong-based Swire's Brickell CitiCentre, Dacra's renovation project in the Design District are underway throughout South Florida. We see 2013 as the year to take a risk and re-position the focus on growing your business.
3. GlobeSt.com: The National Convention is heading to Miami in 2014. Can you talk a little bit about what attendees can expect from the event? How are you starting to prepare now?
Nee: We are gearing up for the more than 1,000 national CREW members that are expected to attend the 2014 CREW Network Convention here in Miami. It is not only exciting to have the opportunity to network and connect with real estate professionals at a national level, but to have the real estate community across the US focus on Miami and experience first-hand the uptick in Miami's real estate market. Add to that, the economic impact of a national convention of this size, which also translates into bookedflights andoccupied hotel rooms and countless opportunities to establish new business relationships that can generate future deals.
The National Convention will take place at the Loews Hotel in Miami Beach and will include additional off-site events in Miami. Preparations are in full swing from planning and organizing pre- and post- events surrounding the convention's itinerary to highlight key markets and assets, securing sponsorships to reach our fund-raising goal of $150,000 and building awareness for the event.
4. GlobeSt.com: There's still a significant lack of women in high-powered roles in the commercial real estate industry. How do you think women can become more involved and take on greater responsibility to even the playing field? Or do you think that things are becoming more equal?
Nee: While parity gaps still exist between men and women primarily in level of position and salaries, statistics show that these gaps are shrinking, especially in industries that have historically been more dominated by men. For example, according to a national CREW Network report, women are entering commercial real estate at a faster pace than they were five years ago – 43% today compared to 36% in 2005.
However, the level of involvement of women in the commercial real estate industry should also be regarded on a region-to-region basis. In South Florida, we are seeing more women helm major brokerage firms, serving as equity partners at top-ranking law firms and sitting at the executive table of the region's largest community banks. In fact, women played a leading role in the majority of the region's biggest real estate deals over the past year. For instance, the 150,000 sq. ft. lease secured in Doral on behalf of the publication the Miami Herald; a $50 million refinance of the Grand Beach Hotel in Miami Beach; and the 25,000 sq. ft. lease at the office tower 1450 Brickell on behalf of Berger Singerman.
5. GlobeSt.com: What are your hopes for the industry in 2013?
Nee: As we enter the next chapter of Miami's real estate story, we should see the playing field continue to level for men and women at a regional and national level. The goal is for more men and women to not only work together on deals, but help each other grow and succeed in this competitive industry. With more women driving major deals and at the head of small businesses and financial institutions, we are paving the way for the next generation of women to look at real estate as a career and support the long-term growth of our industry.
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