ONE Commercial Real Estate

Nearly a third of U.S. lab space is available for lease, according to a new report. Oversupply has pushed availability to 30%, and rents are down 9%, a shift the industry hasn't seen in previous economic cycles. Despite increased venture capital in biotech, much of it is flowing into larger established firms, which slows the leasing market and leaves smaller players in incubators. Conversion of labs to other uses may be key to stabilizing the market. Read the full Bisnow article to dive deeper into these trends and for the shifts ahead.

SITE Centers has successfully offloaded over $100 million in South Florida with the sales of The Shops at Midtown and a retail center in Palm Beach County. The Midtown Miami asset, disposed for $83.75 million, is home to notable big-box tenants, including what has been one of the country's highest grossing Targets. Read the full South Florida Business Journal article for more.

JUST SOLD | $1,790,000 | 20-Unit Multifamily in Pace, FL Congratulations to ONE Commercial's Multifamily Investment Advisor, Travis Jones, on the sale of Deer Run Apartments, at 4260 US 90, Pace, FL. This 20-unit multifamily property, which includes 4 one-bedroom and 16 two-bedroom units, presented a light value-add opportunity with renovated units and new infrastructure upgrades. The property offers substantial rent increase potential, making it a great investment in this growing area. For more information, contact: Travis Jones 954.303.8917 tjones@onecommercialre.com

New retail and restaurant concepts are on their way to Miami Worldcenter Associates LLC, one of Florida’s largest privately owned urban developments. The 27-acre, $6 billion project continues to grow with Go Greek Yogurt, HŸP, and SkinSpirit opening by early 2025, adding to Downtown Miami’s vibrant commercial scene. These tenants join a stellar lineup of retailers and dining spots like lululemon, SEPHORA, Sixty Vines, and Brasserie Laurel . Located near key cultural landmarks, this dynamic development is a central hub for residents and visitors alike.

JUST LISTED | Multifamily | Little Havana ONE Commercial Real Estate is pleased to present Casa Linda, Four (4) newly renovated 3bedroom 2bath luxury apartments located in the heart of Shenandoah, Miami and adjacent to Little Havana. Full gut renovation and 40/50-year Certification completed in 2023 this exceptional renovation exudes refinement within all interior and exterior finishes. No expense was spared in aiming to achieve the highest level of build, not limited to all new windows, doors, individual HVAC systems, plumbing, electric, structural & roofing components. With the property Currently Grossing $175,000, each apartment features new flooring, drywall, fully remodeled kitchens & baths, stainless steel appliances, smart home tech, and in-unit stackable washer and dryer. The backyard(s) and common areas have been resurfaced, providing a fresh and clean environment for residents to enjoy with private backyard patios for the first floor units. Additionally, the building is being delivered with Tenants, providing new ownership immediate returns from annual leasing operations. Contact Clark Patterson for more information. Clark Patterson 312.952.4995 CPatterson@ONECommercialRE.com

Planning to sell your commercial property? Investment Sales Advisor Gulya Sanchez shares expert tips to ensure you get the highest return. With over 13 years of experience across South Florida, she emphasizes the importance of reviewing permits and sprucing up your property before listing. These simple actions can significantly impact your final sale price. Want more insights? Reach out to Gulya for tailored advice and guidance through the process. 305.915.8250 GSanchez@ONECommercialRE.com

As retail continues to evolve, companies like ODP, Best Buy, and Target are leveraging AI to optimize efficiency while allowing employees to focus on personalized service—a key trend shaping the future of brick-and-mortar retail. The ODP Corp., parent company of Office Depot and OfficeMax, is enhancing its retail operations with the integration of generative AI technology. The Boca Raton-based company has deployed its proprietary ODP Personal Assistant app, powered by Microsoft Azure’s OpenAI Service, across 900 stores. By providing instant information to store associates, this technology is streamlining operations and improving customer experience.

FOR SALE | Hollywood Development Opportunity | $2,300,000 ONE Commercial Real Estate presents this stunning urban infill development opportunity in Hollywood, Florida. This half-acre parcel was awarded site plan approval in July for 34 residential units in four stories, 43 ground-floor parking spaces, and rooftop amenities including swimming pool and expansive lounge area. The gorgeous art deco-inspired design offers large balconies, in-unit washer/dryers, and efficient parking, and is mere walking distance to Young Circle Park, Hollywood Boulevard and more, in this booming city strategically situated between Miami and Fort Lauderdale. For more information, contact Hunter Halten or Alexis Shapiro. Hunter Halten 305.979.9078 hhalten@onecommercialre.com Alexis Shapiro - South Florida Multifamily Advisor 954.573.4449 ashaphiro@onecommercialre.com

Little River, once known for its industrial landscape, is experiencing a significant shift toward becoming a vibrant center for retail and multifamily projects. With rising demand for housing options in Miami, areas like Little River are transforming into dynamic, mixed-use communities. A notable example is Infinity Collective’s recently proposed 28-story rental tower. This project will bring 454 units and nearly 20,000 square feet of commercial space to the area, taking advantage of Florida’s Live Local Act. Importantly, 40 percent of the residences will be designated as workforce housing, addressing the crucial need for affordable living. As Little River continues its transition from an industrial zone to a flourishing mixed-use destination, this development exemplifies the neighborhood’s potential to attract significant investment and support community growth.

JUST LISTED | Overtown Multifamily Opportunity | $3,100,000 ONE Commercial Real Estate is pleased to present this exceptional 20 Unit LIHTC Multifamily Opportunity in booming Overtown, South of Wynwood. This area has seen tremendous growth and investment as one of the few areas with land available to meet the ever-increasing demand for housing near Miami’s core & central business district. The property has been updated over the years of ownership including interiors, exterior paint, hurricane impact doors, and water proofing in common areas. This is an opportunity to purchase well below the average sold price per unit in a location that is imminently transforming into a Miami hotspot for new development. For more information, contact Alexis Shapiro. Alexis Shapiro 954.573.4449 ashaphiro@onecommercialre.com