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    Aurora L. Alvarez

           President

BLACKSTONE JOINS  DDR TO BUY 46 SHOPPING CENTERS IN US FOR $ 1.43 BILLION. JANUARY 14, 2012- Blackstone Group and DDR Corp. agreed to purchase 46 shopping centers from an affiliate of Israel’s Elbit Imaging Ltd. For $ 1.43 Billion amid an improvement in retail leasing. Blackstone Real Estate Partners VII, a fund managed by New York based private equity firms, will own 95 % of a venture formed to buy the properties.  The retail centers are being sold by EPN Group, an affiliate of Tel Aviv-based Elbit. The purchase price includes assumed debt of $ 640  Million and at least $ 305 Million of new financing, according  to the statement. DDR also will invest  $ 150 Million in preferred equity in the venture and provide leasing and management services. US shopping centers had their first net gain in occupied space in four years in the fourth quarter  as consumer confidence and job growth began to strengthen. 

SHULA FAMILY  EXPANDS RESTAURANT REAL ESTATE HOLDINGS. FEBRUARY 2, 2012.  Not only is legendary Miami Dolphins head coach Don Shula expanding his restaurant empire but his family also continues to expand its real estate holdings. Shula Spirit Investments LLC recently purchased 10 commercial condominium units in the Tides at Bridgeside Square, at 3020 NE 32 Avenue in Fort Lauderdale. The condos are in the same building where  the company has its corporate offices. In 2010 it purchased seven units there from Ironstone Bank for $ 453,330.00. Shula’s restaurant concepts have continued to expand over the years. He has  Shula’s Steak House, Shula’s on the Beach, Shula’s 347, Shula’s 2, Shula’s Burger, Shula’s Bar & Grill and Shula’s Grill and Wine Bar.      

AVNET INKS 1000,000 SF RENEWAL IN DORAL. JANUARY 28, 2012- Avnet, Inc has signed  a 103,131 S F renewal deal at Beacon at 97 Avenue, located at 2100 NW 97 Ave in Doral, Fl. One of the world’s largest franchised distributors of electronic components and subsystems, Avnet will continue to utilize the space for its distribution center in Latin America.  The 159,600 square foot building was built in 1996 on 8.6 acres in the Miami Airport West Industrial submarket of Miami/Dade County . It features 43 loading docks, 24 foot clear heights, and a fenced corner lot. KTR Capital Partners acquired the property at the end of the year for $ 25.9 million.

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   KIMCO’S MAKING SHOPPING CENTERS THE

   PLACE TO BE..            

 

JANUARY 14, 2012– With the economy crumbling, weighted down by the residential mortgage mess that threatened to infect the commercial market, investing in real estate at the end of the last decade was going the way  of 1990s flannel shirt: Not Cool. But yesterday’s thrift store rejects is tomorrow’s Next Big Thing, and so it appears that commercial real estate is making a comeback in 2012-and in the unlikeliest of places. Under the management of Kimco Realty Corp(KIM), the unassuming community shopping center is showing its glamorous side. Kimco was founded more than 50 years ago by Milton Cooper and Martin Kimmel. After a series of changes to the corporate tax laws in the 80’s the Modern REIT Era was launched when Kimco went public in 1991. Now there are 123 equity REITs that make up the FTSE NAREIT Index with a collective valuation of approximately $ 388 billion. A REIT is an attractive investment vehicle because it is required to pass along   90 % of its profits to investors in the form of dividends. A REIT’s profits come from owning and efficiently operating income-producing real estate such as office space, industrial parks, medical complexes and even your corner strip centers. The situation is showing signs of change, however. In response to reduced demand for new stores,  construction slowed to a crawl, leaving today’s supply  of available commercial space stagnant. Furthermore, in the face of the weakened economy, REITs buckled down and focused hard on conserving capital.

 

  LANDLORD POISED TO REGAIN UPPER HAND

  IN RECOVERING OFFICE MARKET.

 

JANUARY 24, 2012- Office space absorption double during 2011 as the office using job base expanded and vacancies  declined across nearly two thirds of US submarkets. Offices sales increased steadily through 2011 over the previous year as investors sought to get ahead of the curve with investor interest spreading beyond the safer well-leased investment-grade building in top tier markets and into smaller properties and second tier markets such as Seattle,  Atlanta and Northern New Jersey. Total fourth quarter 2011 offices sales are likely to match or exceed fourth-quarter 2010’s impressive $ 25 billion since 2000. Although office tenants continue to hold the cards in many markets, reports  outlook appears to increasingly favor building owners in coming years as the cycle continues. The expectation is the vacancy to continue to decline through 2015, and when you have declining vacancy rates, you can raise the rents, the return are better, and for an investor that’s good news. Challenges remain including relatively weak consumer confidence, continue high unemployment a record federal budget deficit and economic upheaval in Europe. However CRE values have recovered to roughly 2000-year levels, and vacancies rates declined across the country the last year. In a strong indicator of an impending office rebound, vacancies rates declined 63 % of the 2400 office submarkets tracked down.

 

                TOWER RISES AND SO DOES ITS PRICE.                           

 

JANUARY 31, 2012 –  The price tag for One World Trade Center the signature skyscraper under construction at Ground Zero in New York has risen to more than $ 3.8 billion, making it by far the world’s most expensive new office tower, according to people familiar with the matter. The new figure up $ 700 million from the latest public estimate mark another twist in the rebuilding of the site of the Sep 11, 2001 terrorist attacks. The process has been marked thorny political challenges and ever-lengthening construction delays. One World Trade Center is being built by Port Authority of New York and New Jersey, the regional transportation agency that owns the 16 acre World Trade Center site. A series of cost increases at the site, totaling billions over the years has been reverberating in the area’s economy infrastructure. One World Trade Center’s construction is vastly more expensive than a traditional office tower, in large part due to security costs associated  with building the tallest building in North America on a site that has been the target of two separate terrorist attacks.  Once known as the Freedom Tower  the 1776 foot skyscraper sits atop a heavily reinforced windowless podium. It also has a thick core of concrete and steel around its elevator shafts. The Port Authority long ago gave up hope that the One World Trade Center would be a profitable investment in the short or mid term. In 2010, when the agency sold a minority stake in the tower to the Durst Organization, a major developer in New York the agency pegged the tower value to $ 2 billion. Construction at One Trade Center has reached 90 of its 104 stories and 4 World Trade Center a 72 story office tower  being built by private developer Larry Silverstein has risen 61 stories. The construction will be finished at the end of 2013.