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Discussion Starter #23
October room occupancy, rates rise in Miami
South Florida Business Journal - 10:51 AM EST Monday
Hotel occupancy growth in greater Miami and the beaches has grown as the statewide percentage has fallen and national expansion has been flat.

In Smith Travel Research statistics provided by the Greater Miami Convention & Visitors Bureau, hotel occupancy in the area grew 6.1 percent to 64.4 percent.

The year-over-year data, which spans Oct. 1 to Oct. 28, shows a 5.4 percent decline to 60.2 percent in Florida and a stable 68.3 percent in the United Stats as a whole.

Yet, hotel prices in the area have increased faster than the national average. The local daily rate is an average $125.93, up 9.2 percent, while the state rate is up 9.8 percent, to $103.26. In the nation as a whole, the average daily hotel rate is $100.51, up 8.5 percent.

By the communities Smith Travel breaks out, the CVB said hotel occupancy was:

---up 10.9 percent to 58.5 percent in Miami Beach/Bal Harbour, where the average daily hotel room rate rose 3.8 percent to $154.47
---up .2 of a percent to 62.9 percent in downtown Miami, where the average daily hotel room rate rose 15.2 percent to $125.09
---up 6.7 percent to 66.6 percent in Coconut Grove/Coral Gables/south Miami-Dade, where the average daily hotel room rate rose 16.8 percent to $114.60
---up 2.5 percent to 75.3 percent in the airport area, where the average daily hotel room rate rose 10.9 percent to $92.13
 

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Discussion Starter #26
NCL to stay in Miami
South Florida Business Journal - 10:51 AM EST Monday
Instead of moving to a new headquarters, Norwegian Cruise Line has decided to expand in its current space at Airport Corporate Center.

The 11-building office campus is in the Airport West/Doral submarket of Miami.

Hines, the international real estate firm, said NCL now leases a total of 208,737 square feet, or about 20 percent of the Airport Corporate Center campus, including all of Building 11 and 65 percent of Building 10.

The firm said NCL plans a full renovation of its space, including adding a cafeteria, fitness facility and conference area.

In the lease negotiations, Travers Realty represented the tenant and Hines represented the property owner, Hines Real Estate Investment Trust.

Hines REIT bought Airport Corporate Center in January, its first purchase in Florida. Since then, it has made a total of 90,000 square feet in new leases, expansions and renewals.

NCL President and Chief Executive Officer Colin Veitch had previously suggested the company might even leave South Florida due to hurricane disruptions. Now, he said, the company continues to be committed to Miami, where it has been based for its entire 40-year history.

"This lease will take us beyond our 50th year as one of Miami's largest employers and fastest-growing companies," he said.

Some of that growth was reflected in the company's third quarter financials.

Third quarter revenue and profit both rose about 19 percent, despite a 20 percent rise in the cost of fuel. Full Story....
 

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Discussion Starter #28 (Edited)
Guys...if you are seriously interested in the goings on in Miami, I highly reccomend participating in Leadership Miami. One of your fellow forumers put together this Economic Development Session last Saturday and invited Mr. Michael Lewis (Editor/Publisher of Miami Today) to Moderate a panel...this is what he wrote about his experience.
Miami's best and brightest shown a shining economic future
Link
By Michael Lewis
Economic engines purred in harmony Saturday, an antidote to any post-holiday depression, as 100-some future leaders heard our economy's workhorses paint a glittering word panorama of Miami's future.
The audience was Leadership Miami, young executives who, under the auspices of the Greater Miami Chamber of Commerce, prepare themselves for starring roles in the area's future.
Speaking on the north end of downtown amidst towering cranes, Dana Nottingham, executive director of Miami's Downtown Development Authority, noted the authority's highflying goal of supercharging downtown's $8 billion tax base to reach $22 billion by 2015.
Much of the growth will come from outside, said Holly Wiedman, executive vice president of the county's development partnership, the Beacon Council. She noted that the council's 97 company expansion and retention projects we'd reported Thursday had inched up to 98 — totaling 63 potential new businesses. We won't lure them all, but more keep looking at us.
Florida's job growth is so great, said Manny Mencia, Enterprise Florida's senior vice president of international trade and business development, that the state is trying to channel it into high-wage, high-tech industries — knowledge-based jobs. We're already fourth in the US in high-tech establishments and employment, he told the young executives.
Luring those jobs may be easier than keeping them, said one Leadership participant who fears his employer, a long-time biomedical leader, may exit because it can't keep key executives or find new ones. His boss, he said, just headed for San Francisco and a co-worker is Boston-bound.
Ms. Wiedman acknowledged difficulties, saying it's far easier to recruit from abroad — where Miami is seen as a business hub — than in the US, which doesn't take us as seriously.
But, she said, the Beacon Council is reaching out to our high-tech and biomed companies, helping them recruit — even flying to other cities to speak with clusters of potential employees about Miami's advantages.
While the Beacon Council's No. 1 challenge remains the business image of Miami, she said, with the famed Scripps Research Institute coming to the region and the rising stature of the University of Miami and Florida International University, biomed firms "from all over the world are looking at Miami in a whole different way than they did five years ago."
Such companies now know they need to be here, she said, though they face cost-of-living and housing-affordability hurdles — a thought Mr. Nottingham echoed.
Magnets that bring global business also lure global travelers — 5.2 million of them among the county's 11.3 million overnight visitors last year, said David Whitaker, executive vice president and chief marketing officer of the Greater Miami Convention & Visitors Bureau.
Those magnets, he said, go beyond weather to include shopping, which 22% cite as a factor in coming here, and nightlife.
As in the rest of our economic engine, the visitor industry has gears that need oiling. Mr. Whitaker pointed to the need for high-quality customer service, long our Achilles' heel.
But Miami's glass is far, far more than half-full, the panelists agreed. Visitors last year probably set a record, Mr. Whitaker said. For the first time in memory, Miami is at virtually full employment, Mr. Mencia noted.
In fact, Mr. Mencia says the big story is that in less than two generations, Miami has emerged as one of the world's great business centers while Florida as a whole went from "the state of the newly wed and the nearly dead" to become what, standing alone, would be the world's 17th- or 18th-largest national economy.
Such skyrocketing takes a toll — transportation crunches, housing prices, infrastructure that trails growth.
But on Saturday morning, the story was of superb market position and a sparkling future — as it should be before bright young executives who are destined to keep the sparkle bright when the future becomes the present.
 

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Homestead Commerce Group LLC hopes to build a movie-production studio on 10 acres of Park of Commerce land.

HERES THE START TO MIAMI'S MOVIE PRODUCTION BUSINESS SOON THEY WILL BE POPPING UP EVERYWHERE IN HOMESTEAD.
 

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Miami-Dade (Coral Gables) to get another LA HQ of a large company:

http://www.miamitodaynews.com/news/070322/story6.shtml

Citrix moves Latin headquarters to Gables

By Risa Polansky
Software company Citrix Systems completed a move of its Latin American and Caribbean headquarters from Fort Lauderdale to Coral Gables this week, relocating its executive team, call center and operations.
As the Latin American and Caribbean division began to outgrow the company's corporate headquarters in Broward County — sales in the region increased 150% in the past five years — "we saw that as an opportunity for the Latin American team to move closer to the center of gravity of Latin American business," said Fernando Campo, vice president for Citrix Latin America and the Caribbean.
The new offices, 2525 Ponce de LeÛn Ave., are "close to the airport, close to key alliance partners and close to the regional headquarters for some of our large, multinational customers," Mr. Campo said.
Forty Citrix employees are based in the local office. "The team here in the Gables is going to continue growing as the business grows," Mr. Campo said. "It could easily double in size during the next four years."
More than 180,000 organizations worldwide use Citrix software, according to a company press release. The company generated $1.1 billion in revenue last year.
Citrix' Latin American and Caribbean division in the past two years has introduced several information-technology infrastructure and information-sharing products to the region, Mr. Campo said. As the need for more remote technology in the area grows, "we are very committed to Latin America and the Caribbean and plan to keep investing in the region."
The move to Miami-Dade County will "continue the trajectory we have been in," he said. "In this region, the growth is there, the opportunity is there, and we're investing so we can capture it."
 

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Homestead Commerce Group LLC hopes to build a movie-production studio on 10 acres of Park of Commerce land.

HERES THE START TO MIAMI'S MOVIE PRODUCTION BUSINESS SOON THEY WILL BE POPPING UP EVERYWHERE IN HOMESTEAD.
Miami is becoming the east coast Hollywood. So much movies and shows being filmed and produced here and not to mention music videos.:banana:
 

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i think there's more than one... there's a big one on ne 16th ave just south of 123st
That used to be Ivan Tors studios years ago (the people that did "Flipper").

The house I grew up in was right across the street and my friends and I used to climb over the fence there after business hours and play around all the nifty props they had out back---like miniature submarines.

Good memories!
 

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1M-SF Lease Sets Logistic Firm’s HQ Move in Motion
By Natalie Keith
(To read more on the industrial market, click here.)
MIAMI-In a deal valued at an estimated $75 million, Crossroads Transportation & Logistics has signed a 978,164-sf, long-term lease for warehouse and office space at Centergate at Gratigny. Crossroads, a warehousing, transportation and fulfillment services company, plans to relocate its headquarters here from Indianapolis.

The property was formerly occupied by ABC Distributing, which closed in June. The 1.6-million-sf, 74-acre Centergate at Gratigny is owned by Chicago-based Higgins Development Partners, which acquired the property in August 2006.

“This property serves as an excellent entry point into South Florida, and we look forward to working with Crossroads Transportation & Logistics in making this facility one of the premier logistics centers in the region,” says Edward Okun, CEO of Okun Holdings Inc., the parent company of Crossroads Transportation & Logistics.

Higgins Development Partners senior vice president Eugene Preston tells GlobeSt.com that the company has started to move some of its operations to the new location, but the move is ongoing. “The Airport North submarket is very healthy, that’s one of the reasons we acquired the property,” Higgins says.

Fairchild Partners Inc. principal Jose Juncadella represented Higgins Development Partners in the transaction. ComReal Miami Edward Redlich and Viktoria, of locally based ComReal Miami, represented Crossroads. “Miami has about 200 million sf of industrial space with only about eight million sf that is vacant,” Redlich says. “Crossroads was fortunate to acquire this much contiguous space in such as tight market.”

The Centergate at Gratigny is situated at the southeast intersection of the Gratigny Parkway (State Road 924) and NW 42nd Avenue (LeJeune Road) and offers access Miami International Airport, the Port of Miami and all the major thoroughfares in the region. The property features 32-ft clear height ceilings and an Early Suppression Fast Response sprinkler system.

Higgins plans to build two additional warehouse and office facilities totaling 700,000 sf on the property’s remaining 27.3 acres of adjacent undeveloped land. Preston says the company is seeking approvals for the new development and is planning to break ground later this year. The project is expected to be completed in the second quarter of 2008.
 
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There are the Telemundo, Univision, MegaTV, and WSVN studios. I know the Univision studios are in Doral and Telemundo/CBS are off the Turnpike.
 

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Discussion Starter #40
Miami has a huge potenatial in tourism. If the city officals are smart, they could make a fortune from tourism just like Las Vegas did.
Wow...what a great idea!! We should send our city officials back to school. Whatta think, we've got all this water, why not put a Cruise ship or two in the water?
 
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