MIAMI-With massive amounts of retail coming online in Miami, some investors are placing their bets a little further north. A Canadian investor is one of them.
Franklin Street just completed the sale of two open-air retail centers in Fort Lauderdale for a combined price of just under $12.4 million. Franklin Street's Greg Matus, regional managing partner, and Peter Crane, an investment associate at the firm, represented both parties in each separate transaction.
"Multi-tenant, unanchored retail centers are in high demand right now from investors," Matus tells GlobeSt.com. "The cost of capital is very competitive and retail rents are on the rise in South Florida creating ideal conditions for trading activity.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
