Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
E-commerce is expected to grow and with it last mile distribution centers but the future is less bright for industrial users catering to cruise lines, airlines and conventions.
Commercial real estate lending has halted as lenders and borrowers re-focus on existing debt with defaults and forbearance on the horizon. "It's not really about expansion today," said Centennial Bank's David Druey.
Landry's paid $45 million in cash and assumed $23 million of liabilities for the iconic Palm restaurant started by Italian immigrants in New York in 1926.
Centennial Southeast Florida division president J.C. de Ona and senior commercial loan officer Jay Brito in Miami issued the loan for the student housing portion at VOX Miami.
South Florida public agencies have canceled zoning and commission meetings where action on proposed developments was pending, but construction, permitting and inspections continue.
Three attorneys reported either a pause or a flat out cancellation of a total of seven real estate deals, although more than likely a lot more transactions aren't closing.