Gerardo Garza, P.A.

03/14/2022

U.S. Net-Leased Commercial RE Had Record Year

JLL Capital Markets: 2021 marked a new record for net-lease transaction volume, which totaled $79.3B – up 39% over 2019 – and the Sun Belt leads the way.

NEW YORK – Driven by unprecedent demand for single-tenant assets, 2021 marked a new record for net-lease transaction volume, which totaled $79.3 billion and was up 39% over 2019 levels. Senior Managing Director Alex Sharrin, who is based out of JLL Capital Markets’ Miami office and is part of the firm’s Capital Markets net-lease team that focuses on private capital, anticipates that trend to continue, led by Sun Belt markets.

Liquidity for net-lease assets has reached historic highs in recent months, said Sharrin. Rising acquisition targets and mandates from traditional net-lease investors, coupled with new private and institutional capital entering the space, is expected to support continued momentum looking ahead to 2022.

The property sectors currently experiencing a boost in liquidity by net-lease demand includes industrial, retail and office. With a 75% increase over 2019, industrial leads the pack with $37.3 billion in transactions. Even though e-commerce leasing remains strong, logistics was the driving force for demand in 2021, which is expected to continue throughout 2022.

Net-leased retail volume totaled $18.3 billion in 2021, up 65% over 2019, driven by significant private capital activity. The sector saw a sharp recovery in occupier demand in the second half of 2021 and was particularly strong in Sun Belt markets, which is also true for the office sector. Leasing activity rebounded for office in recent quarters, and the Sun Belt markets are recovering faster than others.

We are seeing liquidity at all levels of the market, from single-asset sales below $10 million to platform sales exceeding several billion dollars with seemingly no upward limit, added Senior Managing Director Coler Yoakam, Net Lease Platform Leader for JLLs Capital Markets group. More capital is forming around our space every week representing both global and domestic capital and from a multitude of sources ranging from HNY to private equity, public REITs and institutions. The pace of capital formation in our space has been accelerating and shows no signs of abating.

While net-lease demand and the historic liquidity is a national trend, Sharrin, believes Florida is positioned perfectly to capitalize on this trend. Florida, and, specifically South Florida, has benefited from recent population migration trends to the state, resulting in demand for multi-housing, industrial, retail and office space. Companies like Elliott, Starwood and Icahn Enterprises all recently relocated to the Miami area, which JLL Research identified as one of the more stable markets for net-leased office occupancy levels.

The core effect of investors having the ability to enter new markets like South Florida and the rest of the Sun Belt states is increased velocity in net-lease transactions, added Sharrin, who recently relocated to Miami and was promoted. Net lease offers compelling yields and the versatility to supplement all types of investor portfolios. This means an ultra-liquid single-tenant space it’s a win-win for buyers and sellers alike.





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JLL Capital Markets: 2021 marked a new record for net-lease transaction volume, which totaled $79.3B – up 39% over 2019 – and the Sun Belt leads the way. NEW YORK – Driven by unprecedent demand for single-tenant assets, 2021 marked a new record for net-lease transaction volume, which totaled $...

02/23/2022

Nov. U.S. Home Prices Up 18.8% Year-to-Year

The increase in the top 10 and top 20 cities in S&P CoreLogic Case-Shiller Index’s was slightly less, but Phoenix, Tampa and Miami had highest year-over-year gains.

NEW YORK – A leading measure of U.S. home prices, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, reported an 18.8% annual gain in November. While a strong rate of price appreciation, however, it’s down from 19.0% in the previous month. The index covers all nine U.S. census divisions.

The index’s 10-City Composite (largest cities) found an annual increase of 16.8%, down from 17.2%. The 20-City Composite posted an 18.3% year-over-year gain, down from 18.5% one month earlier.

Phoenix, Tampa and Miami reported the highest year-over-year gains among the 20 cities in November.

“Phoenix’s 32.2% increase led all cities for the 30th consecutive month,” says Craig J. Lazzara, Managing Director at S&P DJI. “Tampa (up 29.0%) and Miami (up 26.6%) continued in second and third place … Prices were strongest in the South and Southeast (both +25.0%), but every region continued to log impressive gains.”
Month-over-month

Before seasonal adjustment, the U.S. National Index posted a 0.9% month-over-month increase in November, while the 10-City and 20-City Composites posted increases of 0.9% and 1.0%, respectively.

After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 1.1%, and the 10-City and 20-City Composites posted increases of 1.1% and 1.2%, respectively.

In November, 19 of the 20 cities reported increases before seasonal adjustments, but all 20 cities reported increases after seasonal adjustments.

“For the past several months, home prices have been rising at a very high, but decelerating, rate,” says Lazzara. “That trend continued in November 2021 … (but) in all three cases, November’s gains were less than October’s.”

Still, Lazzara says November’s increase remains noteworthy, because it’s “the sixth-highest reading in the 34 years covered by our data – and the top five were the months immediately preceding November.”

Index analysts have suggested for months that housing market strength is driven, in part, by a “change in locational preferences as households react to the COVID pandemic.” However, it’s still too soon to tell if the change in demand is unique or largely consumers who would have made the same buying decisions with COVID-19 but strung them out over the next several years.

“In the short term, meanwhile, we should soon begin to see the impact of increasing mortgage rates on home prices,” adds Lazzara.







© 2022 Florida Realtors®

The increase in the top 10 and top 20 cities in S&P CoreLogic Case-Shiller Index’s was slightly less, but Phoenix, Tampa and Miami had highest year-over-year gains. NEW YORK – A leading measure of U.S. home prices, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, reported an 18...

02/04/2022

Record Number of Young Adults: “Mom? I’m Home”

In 2020, the share of 25-34-year-old adults moving home hit numbers not seen since 1960 – almost one out of five (17.8%). In 2021, it was still 17%.

CHICAGO – As the COVID-19 pandemic continued, more young adults chose to move back home with their parents. In 2020, the share of young adults aged 25 to 34 living at home rose to the highest share recorded since 1960: 17.8%, the National Association of Realtors® (NAR) reports. That percentage fell slightly but remained high in 2021 at 17% – the second-highest share on record.

“Some young adults may have recently moved back home due to the flexibility of remote work trends and to avoid paying high rents,” writes Jessica Lautz, NAR’s vice president of demographics and behavioral insights, on the association’s blog. “Others may be at a family member’s home due to job losses or while virtually attaining higher education goals. Regardless of the reason, living with family may provide a benefit to potential first-time homebuyers.”

About half of young adults surveyed who became first-time homebuyers said they were making rent payments to family as they stayed at home.

However, other young adults have been able to live rent-free while they save for homeownership. Living at home could allow them to pay off their debts, improve their debt-to-income ratio and save for a down payment.

“While living at home may not be an ideal or even a long-term scenario for many families, if prospective first-time buyers can move home before purchasing, this might financially help them save to purchase a home,” Lautz says. “The added flexibility of living with family allows a buyer to better navigate the tight housing market.”



Source: “Young Adults Are Returning to Their Family’s Homes, But for How Long?” National Association of REALTORS® Economists’ Outlook blog (Jan. 26, 2022)

© Copyright 2022 INFORMATION INC., Bethesda, MD

In 2020, the share of 25-34-year-old adults moving home hit numbers not seen since 1960 – almost one out of five (17.8%). In 2021, it was still 17%. CHICAGO – As the COVID-19 pandemic continued, more young adults chose to move back home with their parents. In 2020, the share of young adults aged...

12/27/2021

Buyers who want to make their offer more appealing sometimes consider changes to the contract’s “Loan Approval Period.” Of the possible changes they can choose to make their offer more appealing, this one may carry the highest risk. The Loan Approval Period may be the riskiest clause to change...

05/31/2021

Let us not forget the sacrifices so many made for the freedoms we enjoy today. 🇺🇸

On behalf of Garza International Realty, have a safe Memorial Day with your loved ones. 🇺🇸

“I believe our flag is more than just cloth and ink. It is a universally recognized symbol that stands for liberty, and freedom. It is the history of our nation, and it’s marked by the blood of those who died defending it.”
– John Thune

04/16/2021

How can we help you find your dream home? Start by giving we a call for a free consultation 🔑 🏡

02/26/2021

We are SO thankful for you Claudia!!!!! We know that behind Elizabeth’s great success is your hard work lightening her load. Her success is a reflection of your hard work and dedication.

On behalf of Elizabeth and the team at Garza International Realty, thank you for all you do! 💙💚

02/03/2021

Warehouse in the perfect location of Miami - SO perfect, Thrillist named The Leah Art District one of the next big neighborhoods in the U.S.! What an honor! 🎉

Warehouse features 5+ Executive Offices, Showroom, Filing Room & Conference Room. It’s also Street Level with Truck Wells, Heavy Power, Warehouse Dispatcher Offices, Yard Space, and more. Miami central location minutes to Miami Int'l Airport and walking distance to The Leah Art District zoning which offers local artists with live / work space affordable spaces and promotes art and culture within the City of Hialeah.

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12/29/2020

It’s T I M E to lease your N E W executive suite! 🕰

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08/26/2020

GOOD NEWS: Broward County single-family home sales and median prices increased year-over-year in July 2020 as new pending sales surged double digits, according to the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.

“Broward real estate continues its remarkable recovery from the global COVID-19 situation as single-family home sales and median prices rose while months of supply declined,” Broward MIAMI President Sharon R. Lindblade said. “Broward County is home to a robust seller’s market with just 3.1 months of supply of single-family homes.”

08/06/2020

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07/15/2020

Does coronavirus have you working from home full of distractions?

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