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July 10, 2019

A Beachfront Acre For $30K In An OZ? Welcome To Puerto Rico

Last call! Centennial Bank, OneWorld Properties, Ackman-Ziff, Miller Construction Co. and more leaders honored at tomorrow's South Florida Power Women

Puerto Rico was already struggling from decades of fiscal mismanagement and had just declared bankruptcy over its $123B debt when it was hit by two hurricanes in September 2017 — only to run into a botched disaster response.

The way some see it, though, rock bottom is behind Puerto Rico, and the island is in the early stages of an upswing.

A Beachfront Acre For $30K In An OZ? Welcome To Puerto Rico

"Puerto Rico is setting an incredible pace for economic recovery," said Brad Dean, CEO of Discover Puerto Rico, a destination marketing organization that promotes the commonwealth. "Airport arrivals are exceeding pre-Hurricane Maria levels, as are lodging revenues. Given the quick rebound, reinvestment in hotel product and tremendous potential for the…

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Mall With 100% Occupancy, Tenant Waiting List Borrows $550M For Expansion

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The Bal Harbour Shops in Miami take up 463K SF, but apparently, that's not enough for tenants who want in. The mall has been fully leased for decades and has a waiting list, so its developer has taken out a $550M loan to retire an existing loan and expand by…

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Florida's Hospital Wars: State Eliminates Certificates Of Need

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Florida Gov. Ron DeSantis signed a bill last month that eliminates certificates of need before certain hospital facilities can be built. This could potentially lead to a wave of new medical facilities throughout the state, though executives are currently waiting to see whether restrictions will simply be shifted into licensing requirements.…

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Watch Out Walmart: Amazon Is Turning Prime Day Into An Offline Event Too

 

Amazon's Prime Day is coming on July 15 and 16 this year, and Amazon has already taken it into the physical realm through Whole Foods. In doing so, it has once again forced its biggest competitors to play catch-up.

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The Commercial Real Estate Legacy Of Ross Perot Sr., Who Died Tuesday At 89

 

When Texarkana-born Ross Perot Sr. died at age 89 Tuesday, he left behind a legacy in commercial real estate that is often overshadowed by his status as a billionaire and years spent as a third-party presidential candidate. 

But Perot, a corporate titan known for piling employees into his humble sedan for lunch at local restaurants, cannot be summed up in one story, and his impact, though quiet, has rippled throughout Dallas real estate. 

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