Allen Morris On Real Estate

No Summer Slowdown in the Office Market at The Allen Morris Company!

  |   Real Estate

Guest Blog

By: Thad Adams, Senior Vice President

The Allen Morris Company

 

 

As Miami continues to grow its multinational corporate office base, including many regional headquarters, the spring and early summer months are busier than ever as newcomer companies complete their due diligence to search for and confirm facility requirements to allow for a smooth and efficient commencement of business operations in the fall.

Usually, the slower summer months begin in June giving us a slight respite before activity picks up again in September. Not so this summer, however!

The Allen Morris Company recently completed leases valued at over $6.5 million, including the representation of two large international corporations that serve Latin and North America. One client is a European-based industry leader expanding operations at a rapid pace in Latin America. Another client is a successful high growth Chilean corporation establishing its U.S. headquarters to serve clients in North America.

Strategically, Coral Gables and Greater Miami present the premier platform to manage multiple operations in Central, South and North America. The logistical advantages of travel efficiencies, recruitment of top executive talent, a multi-lingual workforce, access to professional service providers in both Latin and North American markets, and minimized operating costs (including real estate) are key drivers to the location and expansion of these multi-national corporations in South Florida.

Representing the buyer, Bayway Investors Group, LLC, The Allen Morris Company completed a $6.334 million acquisition of an 112,000-square-foot office complex in Jacksonville, Florida that closed in July. The timing of this transaction allows our client, as the new owner and landlord, valuable time to complete key capital improvements to the property in time for the fall quarter, which is typically one of the most active times of the year for leasing activity.

Representing Morays Jewelers, one of the largest and longest standing jewelers in Miami (over 100 year history), The Allen Morris Company relocated its 6,500-square-foot headquarters and high-end jewelry store from downtown Miami to a prime location in Coral Gables. The unique, three-story facility is located at 116 Miracle Mile in the heart of downtown Coral Gables. The summer relocation ensures this client full operations and maximum marketing exposure for its grand opening in February 2016.

I had to postpone our summer vacations, but I am not complaining! I’m confident that the continued growth of international business in Coral Gables and Miami should keep the real estate market alive and well twelve months a year.

 

Contact Thad Adams at tadams@allenmorris.com

 

 

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