Miami and South Florida CRE Capital Allocation 2026

Editorial and financing review: October 1, 2026. Operating figures retain their stated provider, geography and reporting period. A later review date does not make an earlier observation current.

Key takeaway

South Florida supports selected housing, retail, medical and logistics investments, with marked differences across Miami-Dade, Broward and Palm Beach. Office and hospitality require their own tenant and operating cases.

Slower migration, industrial supply, insurance and coastal costs can weaken income despite apparent scarcity. Higher financing costs also reduce proceeds; distinguish collections and achieved rents from asking-rent and demographic narratives.

Financing assumptions

The Fed raised its target to 3.75%–4.00% on September 16. The September 30 Treasury close was 5.29% for the 10-year and 5.64% for the 30-year. Source: Federal Reserve FOMC Statement September 16 2026; Source: U.S. Treasury Daily Par Yield Curve September 2026.

Size debt from achieved income and include capital work and carrying reserves. Test a higher borrowing cost, slower stabilization and a wider exit cap rate; improve rent, proceeds or exit assumptions only when property evidence and lender terms support them. See U.S. Commercial Real Estate Outlook Q4 2026 for the common macro scenarios.

Updated operating and research evidence

C&W’s Q2 Miami-Dade industrial universe reports 6.3% vacancy, 261,701 SF YTD absorption and 2.56M SF under construction. Warehouse/distribution asking rent declined 6.1% YoY. Approximately 11% pipeline preleasing and future occupied leases require timing verification. This qualifies the logistics scarcity thesis; it is Miami-Dade evidence, not a Broward or Palm Beach operating row.

Source: Cushman & Wakefield Miami Industrial MarketBeat Q2 2026.

Evidence carried forward

The following source-period observations and earlier qualifications remain part of the research record. Current allocation and financing conclusions are stated above.

Public-school consolidation adds a separate public-land reuse lane to Broward's opportunity set. Broward County Public Schools lists a North Fork multi-use redesign with Sistrunk Rising Group and says Seagull will accept P3 or facility/land-lease proposals; neither entry establishes a closed lease, final program, entitlement, or developer economics. The district's published annual cost-savings figures are recurring facility savings, not property values or rent comparables. See Source: Bisnow South Florida School Site Reuse 2026 and Fort Lauderdale and Broward Urban Core.

Related Ross's BRiC acquisition adds a large technology-oriented office campus to its Boca Raton footprint: the sponsor announced 124 acres and approximately 1.7M SF, with Ares financing but no disclosed purchase or loan amount. The buyer says the campus will continue operating as office and technology space while it develops an unspecified long-term vision. Treat the acquisition as a sponsor-entry and employment-campus positioning signal, not a transaction valuation, market-wide demand metric, or current mixed-use project program. The city's April 2026 project register lists earlier BRiC mixed-use applications as unscheduled in that snapshot; later status is unverified. See Boca Raton Innovation Campus and Source: Related Ross Acquires Boca Raton Innovation Campus 2026.

Carnegie Mellon's September 30 announcement adds a prospective Wynwood research and education anchor. The university says $2 billion of Ken Griffin's $3 billion gift will launch a campus exceeding 35 acres; construction is targeted for 2027 and first student enrollment for 2028, subject to approvals. This is a project-pipeline signal, not current office, lab, employment, or absorption data. Keep the associated Mana Wynwood sale out of transaction comps: seller Mana Common says about 30 acres closed for approximately $1.1 billion on September 29, while Traded reports $700 million and an August 28 close for a 30-acre transaction description. The final sale and campus boundaries have not been reconciled. See Carnegie Mellon Miami Campus at Mana Wynwood and Source: Mana Wynwood Sale and Carnegie Mellon Miami Campus 2026.

The Monroe Hotel redevelopment adds a mid-construction South Beach capital-stack case: IPA reports a $75.1M recapitalization and $125.5M project cost for an 89-key hotel planned to open in 2027. Earlier dated reporting described 110 existing rooms in 2022 and a 97-key plan with a $49M Goldman Sachs loan in 2024; the 2026 target and key count have since changed. IPA's published component amounts imply about $89M including historic-credit equity, while REBusinessOnline's debt detail totals the $75.1M headline and leaves equity amount unreported. Keep the stack unreconciled and do not infer the 2024 loan's payoff. This is a redevelopment-specific capital signal, not hotel-market pricing or demand. See The Monroe Hotel (Miami Beach) and Source: REBusinessOnline and IPA The Monroe Hotel Recapitalization 2026.

Arlo Wynwood adds an operating-hotel transaction to the Wynwood watchlist. Commercial Observer's updated September 29 report gives an approximately $65 million total price, including hotel furniture, fixtures, and business operations, while the deed price was $44.3 million; BMO reportedly supplied a $43 million acquisition loan. The 217-room, 144,848-SF hotel opened in 2022. Treat this as a single hotel-and-business transaction, not a clean real-estate price or hotel-market valuation comp. See Arlo Wynwood and Source: Commercial Observer Arlo Wynwood Hotel Sale 2026.

Bugatti Residences Miami adds a planned 183-unit branded condominium tower to Brickell's luxury-residential pipeline. Bisnow reports a 60-story proposal on a site bought for $50 million and a first-half-2027 sales launch; the brand's September announcement confirms the U.S. residential debut and Prosper / Versluys partnership. This is a proposed project and branding decision, not evidence of presales, construction, absorption, or achievable prices. See Bugatti Residences Miami and Source: Bisnow Bugatti Residences Miami Announcement 2026.

Gallery at Lummus Parc adds an affordable/workforce development finance case in Miami-Dade. Florida Housing's April 2026 underwriting separates the $80 million construction MMRN from the $60.905 million permanent loan that repays it at conversion and estimates phase-one cost at $126.278 million. The County identifies this 257-unit phase within a 439-unit, two-phase plan. Commercial Observer's $167 million package figure remains undefined; do not treat it as a single loan or use it as project cost. See Gallery at Lummus Parc and Source: Commercial Observer Gallery at Lummus Parc $167M Financing 2026.

Nexo Residences adds a separate residential / lodging boundary example: the 254 individually owned North Miami Beach condos received a TCO according to current project materials, with initial closings anticipated and short-term stays marketed. This does not provide an apartment rent comp, hotel-room addition, condominium sell-through rate, or lodging operating metric. Keep the owner-level rental option distinct from Miami-Dade hotel demand and multifamily fundamentals. See Nexo Residences and Source: Nexo Residences North Miami Beach TCO and Condo Product 2026.

The selected defense-, advanced-energy-, and quantum-technology location evidence adds a Palm Beach corridor employment-campus signal, but not a broad office demand upgrade. AMPERA reports two operating Palm Beach Gardens buildings envisioned at nearly 100,000 SF; Blue Ops reports an 11,400-SF opened facility and future hiring plans; and a16z's reported CityPlace Tower lease has no disclosed area or economics. D-Wave's headquarters relocation to BRiC was announced as planned, not verified as completed occupancy. Keep company plans distinct from realized jobs and rents, and do not generalize Bisnow's nine-company tally into a complete cluster count. See Source: Bisnow Palm Beach Defense-Technology Location Signals 2026 and West Palm Beach and Palm Beach Wealth Corridor.

Supporting detail

Brickell’s large-office pipeline has diverged by project. Santander’s 1401 Brickell tower is under construction with a reported 560K SF of marketable office within a 1.6M-SF mixed-use project; some office space is for Santander, with external lease-up still open. Citadel’s 1201 Brickell site was reported stopped after a September 14 rig collapse pending investigation, with no restart date established. Treat the supply-gap and trophy-rent arguments as conditional: large-tenant searches are broker-reported, leasing has slowed, and delivery timing remains exposed. See 1401 Brickell by Santander, Citadel Miami Headquarters, and Source: Bisnow Reports Brickell's Santander and Citadel Office Towers 2026.

A September 2026 Doral warehouse acquisition by Jet Engine Technology adds a specific aviation-maintenance owner-user signal to the Airport West industrial lane. Transwestern reports $29.5M for approximately 112,000 SF and a plan to use the full building for repair-station expansion. The reported area has no verified parcel or NRA basis, so no price-per-SF metric is inferred. The case strengthens the corridor’s specialized logistics and aviation-use evidence, but a single owner-user deal does not establish marketwide pricing, leasing demand, or investment returns. See 2100 NW 88th Court, Doral and Source: Transwestern Announces Jet Engine Technology Doral Warehouse Acquisition 2026.

The September 2026 opening of Naranja Grand Phase I and Naranja Grand Phase II adds 320 income-restricted apartments in South Dade: 120 senior units and 200 family units. This is project-level delivered supply after the Q1 market-report period; occupancy is unknown and it should not be added to C&W’s Q1 stabilized inventory, rent, or absorption measures. See Source: Naranja Grand Phase I and II Open in South Miami-Dade.

Pinnacle at Cypress adds a proposed Cypress Creek senior-housing project with a City-approved 100-unit Phase I plan and reported financing. The Phase I signal is property-specific: reported financing totals conflict with the disclosed itemization, and the approved Phase II plan lists 96 units while later reporting says 100. Do not add the project to delivered stock or treat its reported financing as a reconciled capital benchmark. See Source: Pinnacle at Cypress Phase I Financing and Approved Plan 2026.

The Fort Lauderdale Movie Studio Project remains a conditional Broward redevelopment node after the City Commission terminated Napster/Infinite Reality’s assigned role, returned the agreement to Fort Lauderdale Studio Initiative, and approved a second amendment on September 15, 2026. The City meeting brief sets a December 31, 2027 completion deadline, with progress-conditioned extension options. Its former Wingate site is on EPA’s Superfund list; no current remediation or construction-readiness evidence supports counting the proposed program as pipeline or delivered inventory. See Source: Fort Lauderdale Studio Project Returns to Original Developer After Napster Exit 2026.

The Kelly Tractor CDMP amendment adds a project-specific West Dade industrial land-use signal, not current industrial supply. Miami-Dade adopted a site-specific text amendment 9–3 on September 1, but the applicant withdrew requests to redraw land-use designations or expand the Urban Expansion Area; the site remains outside the UDB. State effectiveness and separate zoning, land-use, and permitting steps remain ahead. Do not credit the 2.7034M-SF program to pipeline or delivered inventory. See Source: Kelly Tractor West Dade Headquarters Approval 2026.

The South Florida Bisnow batches add a cautionary residential-development overlay: Park West land is being marketed at skyline-scale optionality, Edgewater still attracts major apartment sponsors, and Palm Beach County mixed-use land can clear through bankruptcy, but Surfside ultra-luxury condo absorption, Little Haiti / Little River displacement pressure, Bal Harbour Live Local litigation, HueHub partnership litigation, Aston Martin Residences defect claims, and Mercedes-Benz Places lender conflict show that demand, stigma, affordability, construction quality, financing, and politics are first-order risks.

Mercedes-Benz Places' financing status has advanced but is not closed: Commercial Observer reported September 30 that signed term sheets underpin a $1.11 billion package, including an $860 million J.P. Morgan construction loan and roughly $250 million of proposed Nuveen C-PACE financing, with closing expected by year-end. The loan structure and schedule remain source-reported; retain the foreclosure / lender-control history as execution risk until recorded financing and project status are verified. See Source: Mercedes-Benz Places Miami Lender Dispute 2026 and Source: Commercial Observer Mercedes-Benz Places Financing Update 2026.

Biscayne 21 adds a resolved site-control milestone to that residential-development risk frame: Bisnow reported a $50 million agreement with ten remaining condo owners after years of litigation, clearing the immediate dispute for Two Roads' planned Edition-branded redevelopment. The negotiated outcome is project-specific; it does not resolve Florida condo termination law or verify subsequent demolition and construction. See Biscayne 21 Settlement 2026 and EDITION Residences Miami Edgewater.

The May 2026 Broward office batch adds the same caution on the office side. Spirit Central and 1500 Concord Terrace are property-level examples of headquarters / suburban-office risk in Broward, reinforcing that Broward office should be underwritten with tenant-credit, reletability, basis, and owner-occupier optionality rather than by borrowing Miami-Dade premium-office rent evidence. The June 2026 Spirit Central auction follow-up sharpens that caution: a newly delivered owner-user campus can become a bankruptcy-auction asset quickly, while Broward County's possible capped bid shows public-sector backstop demand may matter more than ordinary private-office leasing for some specialized campuses.

The reported 19,330-SF Brasfield & Gorrie lease at Weston Pointe I adds a selected demand counterexample in the Weston suburban node, with the physical move planned for Q2 2027. Treat it as a building-specific signed-lease observation, not proof of countywide absorption or a reversal of the distressed-office examples. See Source: Commercial Observer Reports Brasfield and Gorrie Weston Lease 2026.

The reported $89 million purchase of 110 Tower creates a Fort Lauderdale office investment marker. Multiple outlets report a $66.25 million–$66.3 million acquisition mortgage and a $112.9 million 2016 prior sale; the nominal decrease is not adjusted for inflation or capital costs. Colliers lists 394,057 SF of office space while other reports describe about 777,000 SF of total property area. Preserve the area scopes and treat this as an asset-level trade, not a Broward market pricing benchmark. Bisnow also reports a plan for up to $10 million of improvements to available office space, attributed to South Florida Business Journal; this is reported intent, not a verified budget or completed work. See Source: The Real Deal Reports Mana's $89M 110 Tower Purchase and Source: Mana Buys 110 Tower in Fort Lauderdale for $89M.

C&W's Q2 2026 Broward office grid makes that caution marketwide and class-specific: 16.3% vacancy, -83,137 SF YTD absorption, and $44.69/SF full-service asking rent, with Class A at 18.4% vacancy / -150,682 SF YTD absorption versus positive Class B absorption. The investable lane is therefore basis-, class-, tenant-, and node-specific rather than broad Broward office beta. See Source: Cushman & Wakefield Broward Office MarketBeat Q2 2026.

The proposed Office Center of the Americas adds a 400,000-SF Dania Beach speculative-office watch item inside that Broward backdrop. Nichols Architects reported new plans filed at 1805 and 1815 Griffin Road; no approval, construction start, closed construction financing, or signed tenants were verified. Treat the $350M estimate as reported project cost, not an under-construction pipeline count or a rent/valuation signal. See Office Center of the Americas and Source: Charles Cohen OCOTA proposal and Fortress judgment update 2026.

Batch 84 adds a policy and condo-finance overlay. Maxim's lending commentary and the Icon Beach construction loan show South Florida condo capital is still available for presold or branded projects, but the underwriting gate is tighter: lender relationship, sales velocity, product fit, and macro volatility matter. The Miami property-tax article adds municipal-service and civic-quality risk if homestead-tax repeal advances. The Dubai geopolitical-risk source is useful as branded-condo safe-haven commentary, but its demand-transfer claim should stay attribution-heavy.

Batch 99 sharpens the residential split. Harbour at New River shows Broward apartment liquidity can clear for a large urban-core asset, but it is Fort Lauderdale evidence, not Miami-Dade evidence. Flow Wynwood shows Wynwood rental product can attract platform capital while still carrying concessions. The branded-condo amenity source shows the luxury ownership market competing on costly amenity packages, which raises both buyer-expectation and capital-intensity risk. The Palm Beach Tarpon Way estate sale adds island wealth-liquidity color, but it should stay in the luxury residential lane rather than supporting broad CRE demand claims.

C&W's Q2 2026 Broward apartment grid turns that Broward lane into a table-grade operating screen: 94.2% stabilized occupancy, 2,474 units of YTD absorption against 2,666 deliveries, 5,768 units under construction, and -1.5% year-over-year effective-rent growth. The allocation implication remains selective rather than broadly bullish—Central Fort Lauderdale / Hollywood-Dania captured 55.1% of table absorption, while Weston-Davie held 41.8% of pipeline units. See Source: Cushman & Wakefield Broward Multifamily MarketBeat Q2 2026.

The June 2026 RSS verification pass reviewed the Miami multifamily / condo batch and kept the same boundary discipline. Icon Beach and 3265 Virginia Street remain sparse, source-scoped property rows; Maxim, Dubai, and Wynwood items are qualitative capital-availability, buyer-flow, and placemaking signals, not structured market observations.

The September 2026 The Landmark South refinancing adds a large Miami-Dade non-agency financing example: Walker & Dunlop arranged a $238 million floating-rate, interest-only bridge loan from Torchlight Investors for JSB Capital. Freddie Mac's 2023 term sheet separately documents a prior $154.137 million agency loan with a June 2028 maturity, but sources do not disclose the 2026 bridge loan's rate, term, LTV, or proceeds allocation, nor confirm which prior obligations were retired. Treat the bridge as a single asset-level capital-structure event; do not label it distress or infer a broad debt-market reset. See Connect CRE and Walker & Dunlop Landmark South $238M Refinance 2026.

Mohawk at Wynwood adds a current construction-stage marker to that Wynwood supply lane: Connect CRE reported a September 2026 groundbreaking for 300 apartments at 50 NE 29th Street, with delivery estimated in 2029. Nuveen Green Capital reports $124 million of C-PACE financing over a 27-year term, while Connect CRE names ABANCA without a facility amount. Keep this as one project-level capital and supply observation; the reported ground-floor retail figures conflict and no total capital stack, rents, or lease-up evidence was captured. See Source: Mohawk at Wynwood Groundbreaking and C-PACE Financing 2026.

The June 15 retail / mixed-use RSS batch adds two Broward retail and redevelopment signals: Coconut Creek Plaza in Margate and the Fort Lauderdale Galleria mall redevelopment proposal. Keep both county- and asset-scoped. They support the page's Broward node-selection theme, not a countywide retail-rent, cap-rate, absorption, entitlement, or delivery claim. See Source: Margate Coconut Creek Plaza Retail Sale 2026 and Source: Galleria Mall Fort Lauderdale Redevelopment 2026.

Sunbeam / Stiles' Broward waterfront mixed-use project adds another middle-county development marker. It supports the same Broward node-selection theme as an announced waterfront redevelopment, not a delivered performance comp or proof that Broward mixed-use rents, financing, or absorption clear broadly. See Source: Sunbeam Stiles Broward Waterfront Mixed-Use 2026.

The PortMiami / Fisher Island fuel-site dispute adds an infrastructure-versus-luxury-land-use counterweight inside the Miami-Dade story. A reported $400M county purchase rejection and possible eminent-domain path show that port logistics, public infrastructure continuity, and ultra-luxury condo optionality can collide on scarce waterfront land. Treat the pricing and redevelopment plan as source-reported until public acquisition, litigation, appraisal, and entitlement records are preserved. See Source: PortMiami Fuel Site 400M Price Rejection 2026.

The June 15 office batch adds a sharper corporate-relocation constraint layer. Private-school capacity is showing up as an executive-household friction point, tax-politics migration is being used to justify South Florida office pipeline, and Citadel's Miami HQ occupancy plan is anchor-demand evidence for one sponsor-led project. Treat the trio as location-quality and tenant-commitment evidence, not as proof of broad office absorption, rent growth, or construction feasibility without school-capacity data, lease documents, construction records, and broader broker tables. See Source: Miami Private School Shortage Office Hurdle 2026, Source: Tax Politics South Florida Office Pipeline 2026, and Source: Citadel Miami HQ Occupancy Plan 2026.

The first office leases at T3 FAT Village are another asset-specific commitment: GXO signed for 35,000 square feet, and CBI Workplace Solutions is moving its Fort Lauderdale office from Las Olas. The building's first move-ins are scheduled for 2027. CBI's area and both lease economics remain undisclosed, so this supports a leasing-progress checkpoint for Flagler Village rather than a Broward-wide absorption or rent-growth upgrade. See Source: REBusinessOnline T3 FAT Village First Office Tenants 2026.

Fountains Center in Boca Raton adds a Palm Beach County mixed-use / medical-office-adjacent acquisition marker. The reported price, loan, occupancy, tenant roster, and future office approval support node-specific value-add context, not a South Florida-wide office, retail, healthcare, cap-rate, or lending conclusion. See Source: Boca Raton Fountains Center Mixed-Use Acquisition 2026.

The construction-defect insurance source adds another reason South Florida residential development should carry explicit delivery-quality, litigation, warranty, and liability-insurance diligence. It reinforces the page's existing condo-risk overlay, but remains source-scoped until policy terms, litigation records, developer histories, and settlement data are preserved. See Source: South Florida Construction Defect Insurance 2026.

Cora Merrick Park adds a counterpoint inside that same condo-risk frame: selective construction debt can still close for boutique Coral Gables product. properties.id=5389 captures the 74-residence, 4241 Aurora Street project, $67.5M BHI construction loan, Constellation / Boschetti sponsorship, and 2028 expected completion. Keep the signal product- and sponsor-specific until loan documents, condo filings, presales, permits, and delivery evidence are preserved. See Source: Cora Merrick Park Coral Gables Financing 2026.

Alhambra Parc adds the mixed-use counterpart in the same Coral Gables node. properties.id=5390 captures the planned 74-residence, 33 Alhambra Circle project with 13K SF of office, 18K SF of retail, MG Developer / Vertical Developments sponsorship, and a reported $100M Benmark Capital construction loan. Keep the signal project-specific until loan documents, site records, permits, condo filings, presales, delivery timing, and commercial leasing evidence are preserved. See Source: Coral Gables Alhambra Parc Loan 2026.

The Fort Lauderdale positioning source sharpens the middle-county lane. Broward urban-core growth may benefit from not being Miami or West Palm Beach, but that only helps underwriting when infrastructure, affordability, office demand, and civic execution are proven locally. See Source: Fort Lauderdale Positioning Growing Pains 2026.

The Diplomat Beach Resort refinancing adds a Broward trophy-hospitality capital-stack marker rather than a countywide hotel metric. The data-tier row properties.id=5379 captures a 1,000-room, 36-story, 10-acre beachfront resort with a $600M floating-rate refinancing through JPMorgan Chase and Citibank after an $80M renovation and Signia by Hilton conversion. Use it as asset-level hospitality liquidity and lender-depth evidence, not as ADR, RevPAR, occupancy, cap-rate, LTV, DSCR, or marketwide pricing evidence. See Source: JLL Arranges $600M Refinancing for The Diplomat Beach Resort in Hollywood, Florida.

Dalfen's Broward Logistics Portfolio acquisition adds a data-tier Broward industrial portfolio signal. properties.id=5388 captures a reported $99.6M price, 419,253 SF, 83% leased occupancy, nine buildings, nine tenants, and port / airport / highway access context. Use it beside Kurv Pompano as Broward logistics capital evidence, not as a Miami-Dade rent, vacancy, absorption, cap-rate, or marketwide price series. See Source: Dalfen Broward 419K SF Industrial Portfolio 2026.

Avison Young's Q1 2026 U.S. investment-sales report now gives primary support for the South Florida transaction-volume signal that previously sat behind a secondary Real Deal writeup. The source-family rows show South Florida at $4.28B across 244 Q1 2026 sales, up 29.9% by volume and 10.9% by count, with industrial at $1.28B and development / land at $503.9M. This strengthens the industrial / development-site capital-rotation read, while the report also shows multifamily volume down 18.1% year over year. See Source: Avison Young Q1 2026 U.S. Investment Sales Report.

Avison Young's Q1 2026 South Florida retail report adds the operating counterpart for the region's retail lane: 3.7% vacancy, $42.06/SF average asking rent, and 1.8M SF under construction across Miami, Fort Lauderdale, and West Palm Beach. That strengthens the verified-trade-area retail allocation lane, but the same source notes softened fundamentals, negative absorption, and tenant churn; keep it as regional scarcity evidence rather than a county-level rent-growth upgrade. See Source: Avison Young South Florida Retail Market Report Q1 2026.

Blue Lagoon Shoppes adds one reported $28M Airport-area retail trade for a 29,205-SF center that Commercial Observer says was fully leased with 13 tenants at sale. The price is not deed-verified, the building area is not established NRA, and no NOI, cap rate, rent roll, or price-per-SF is inferred. Treat it as one neighborhood-center example, not a regional valuation benchmark. See Blue Lagoon Shoppes and Source: Commercial Observer Reports Elysee's Blue Lagoon Shoppes Acquisition.

C&W's local Q1 2026 Miami-Dade report turns that regional lane into a complete all-retail operating table. The market remained tight at 3.2% vacancy, but -393,919 SF of YTD absorption, a 50-bp YoY vacancy increase, and losses concentrated in Northeast Dade, South Dade, and malls argue for node and format selection. Aventura's 1.7% vacancy and $84.10/SF annual full-service rent support affluent-node scarcity; Wynwood-Design District's 7.2% vacancy alongside positive absorption and Downtown's 6.6% vacancy show why premium rent alone is not a clean demand signal. See Source: Cushman & Wakefield Miami Retail MarketBeat Q1 2026.

Source: Matthews South Florida Retail Market Report Q2 2026 sharpens that allocation lane with current regional and component-market rows. Matthews reports 3.5% regional vacancy, +508K SF absorption, $36.50/SF asking rent, +2.8% rent growth, and $721M of Q2 sales. Miami led absorption and carried the lowest cap rate; Palm Beach paired +201K SF absorption with +7.1% rent growth and a 69.6%-preleased pipeline; Fort Lauderdale remained low-vacancy but had -72.5K SF absorption. Keep the market labels and non-reconciling component totals explicit rather than turning the regional headline into a blended underwriting average.

Marcus & Millichap's Miami-Dade 1Q 2026 retail teaser adds the county-specific retail overlay missing from the regional Avison Young row. It supports Miami-Dade as a tight, high-income retail market with vacancy described in the high-2% to low-3% range over the prior four years and possible 2026 event-date support from the FIFA World Cup and World Baseball Classic. The allocation read remains node-selected: Aventura gets a positive vacancy-decline / multi-tenant leasing signal, while the city of Miami / downtown entered 2026 above 5% vacancy after triple-digit-bps vacancy increases. See Source: Marcus & Millichap Miami-Dade Retail Market Report 1Q 2026.

Marcus & Millichap's Fort Lauderdale 1Q 2026 retail teaser adds the Broward retail counterpart. The source supports Plantation / Northwest Broward as the cleaner suburban large-format lane, with more-than-130-bp 2025 vacancy compression and roughly 3% vacancy at properties over 50,000 SF, while the same teaser says the metro entered 2026 split between tightening suburban nodes and continued urban turnover. Keep this as Broward node-selection evidence beside Avison Young's regional South Florida row, not as a blended South Florida retail table. See Source: Marcus & Millichap Fort Lauderdale Retail Market Report 1Q 2026.

Marcus & Millichap's West Palm Beach 1Q 2026 retail teaser adds the Palm Beach retail counterpart. The source supports selective Palm Beach retail demand with the strongest quarterly net absorption since 2022, 3.7% multi-tenant vacancy, and 4.2% single-tenant vacancy at year-end 2025, but it also splits the read by node: West Palm Beach proper multi-tenant vacancy reached a record low while single-tenant vacancy rose, Jupiter leasing was weaker, and Westlake is a long-term catalyst. Keep this as Palm Beach source-family retail evidence, not as a regional average. See Source: Marcus & Millichap West Palm Beach Retail Market Report 1Q 2026.

C&W's Palm Beach Q1 2026 report adds the complete county and format grid beneath that teaser: 80.65M SF of inventory, 3.8% vacancy, +10,212 SF of absorption, 428,714 SF under construction, $38.54/SF/year NNN asking rent, and more than $477.2M of Q1 sales at a 6.1% average cap rate. The allocation signal is a scarcity-plus-wealth lane, but not a broad county overweight: Palm Beach island was 1.0% vacant at $92.38/SF while Royal Palm Beach / Wellington was 6.1% vacant, and construction was concentrated in outlying / West Palm nodes. See Source: Cushman & Wakefield Palm Beach Retail MarketBeat Q1 2026.

Marcus & Millichap's Fort Lauderdale 2Q 2026 multifamily teaser adds a Broward apartment resilience row beside the Miami Realtors and Colliers multifamily sources. It reports 4.8% vacancy in March 2026, down 30 bps year over year, and a 30% net-absorption pullback over the prior year versus roughly 60% across other large Florida metros. The allocation implication is narrow: Fort Lauderdale can screen better than some Florida peers on relative demand, but affordability pressure and concessions keep it in the basis- and submarket-selection lane. See Source: Marcus & Millichap Fort Lauderdale Multifamily Market Report 2Q 2026.

Marcus & Millichap's Miami-Dade 2Q 2026 multifamily teaser adds the county-specific demand-depth counterpart. First-quarter net absorption rose 40% year over year, Miami was one of only seven major markets with stronger first-quarter demand than in 2025, professional / business-services employers created nearly 10,000 jobs through April, and lower-tier renewal conversions were near record highs of 70%. The allocation implication is still selective: Miami-Dade has stronger demand / renewal-retention evidence than a generic oversupply label implies, but the ongoing delivery wave, insurance / operating-cost burden, and affordability pressure keep it in the submarket- and basis-selection lane. See Source: Marcus & Millichap Miami-Dade Multifamily Market Report 2Q 2026.

C&W's Q1 2026 Miami-Dade table supplies the full operating backbone behind that teaser: 94.2% stabilized occupancy, 2,195 units absorbed, 1,956 deliveries, 13,742 units under construction, and $2,641/unit/month effective rent at -1.0% YoY growth. The allocation signal is selective recovery, not broad beta: Downtown absorbed 733 units but had 4,235 under construction; Hialeah / Miami Lakes paired 96.4% stabilized occupancy with positive rent growth; Homestead / South Dade sat at 89.1% occupancy with 1,578 pipeline units. See Source: Cushman & Wakefield Miami Multifamily MarketBeat Q1 2026.

HUD's January 1, 2026 Miami-Miami Beach-Kendall CHMA supplies a separate public-sector HMA frame for the multifamily allocation screen. Miami-Dade's overall rental market was balanced at 7.0% vacancy, while Q4 2025 apartment vacancy was 7.5% at $2,453 average monthly rent. HUD estimates 29,750 units of rental demand through January 2029 against 21,750 units under construction, and its CoStar-defined areas range from 3.9% vacancy in Little Havana to 24.4% in Mid Beach. Use this as HMA-level supply, affordability, and dispersion context—not as a substitute for C&W's stabilized-stock table or for asset-level rent-roll and insurance diligence. See Source: HUD Miami-Miami Beach-Kendall Comprehensive Housing Market Analysis 2026.

South Florida homebuilder commentary adds the for-sale counterpart to the rental affordability constraint: higher prices and mortgage rates are pushing builders toward smaller, more cost-controlled products and buyer incentives as the qualified buyer pool narrows. Treat this as a demand-and-product-fit mechanism, not a sales forecast; residential underwriting still needs local income, rate, inventory, cancellation, incentive, and construction-cost evidence.

Marcus & Millichap's West Palm Beach 2Q 2026 multifamily teaser adds the Palm Beach County apartment counterpart. It supports a sharper northern-county read: a 2025 delivery pullback helped Palm Beach County post one of the nation's sharpest vacancy declines, but second-half 2026 completions should lift annual deliveries more than 80% above last year's total. Downtown West Palm Beach takes the supply-concentration test because more than 60% of units are expected there, even as its vacancy fell 100 bps over the year ended March to 4.8%; Delray-Boynton Beach screens better on Class A/B vacancy, while Lake Worth Beach remains a development-risk caveat. See Source: Marcus & Millichap West Palm Beach Multifamily Market Report 2Q 2026.

C&W's Q2 2026 Palm Beach apartment grid replaces teaser-only operating coverage with a complete county table: 93.7% stabilized occupancy, 683 units of YTD absorption against 390 first-half deliveries, 6,424 units under construction, $2,553/unit/month effective rent, and 3.1% rent growth. Palm Beach now has the strongest current rent-growth direction of the three C&W county rows, but it also has a record pipeline concentrated in West Palm Beach, Boynton Beach, and Delray Beach. That supports selective northern-county allocation, not broad South Florida beta; the 6.7% broader vacancy and 93.7% stabilized occupancy must remain separately scoped. See Source: Cushman & Wakefield Palm Beach Multifamily MarketBeat Q2 2026.

Marcus & Millichap's Miami-Dade 1Q 2026 hospitality teaser supplies a dated recovery hypothesis: 4.6% projected 2026 hotel-demand growth, recurring events, FIFA World Cup upside, MIA connectivity, meetings, return-to-office and luxury-gateway leisure. Capital interest and these demand channels do not establish an allocation ranking. See Source: Marcus & Millichap Miami-Dade Hospitality Market Report 1Q 2026 and Miami Hospitality Market. Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q2 2026 supplies quarterly volume/rate counterevidence; Source: Colliers Florida Hospitality Market Report Q1 2026 supplies a distinct early-2026 operating summary. Forecast Evaluation and Research Transferability requires matched cohorts and outcomes, Sensitivity and Scenario Analysis tests net capture/displacement, event decay, margins and complete funding, and Portfolio Construction and Risk Budgeting compares actual prices, objectives, horizon, cash needs, risk tolerance and feasible investor actions.

Avison Young's Q1 2026 Miami industrial page adds the operating counterpart for the industrial lane: 7.2% vacancy, $17.26/SF NNN average asking rent, 4.06M SF under construction, and $257/SF asset pricing. That supports scarce infill / airport-adjacent logistics as a high-rent, high-price lane, but the same source says vacancy rose 80 bps and rents eased 1.7% quarter over quarter; keep the call basis-sensitive rather than treating scarcity as automatic rent acceleration. See Source: Avison Young Miami Industrial Market Report Q1 2026.

JLL's Q1 2026 Miami Market Dynamics report corroborates the industrial lane from a separate source family: $16.75/SF NNN average asking rent, 6.3% vacancy, 684,322 SF of positive net absorption, 3.13M SF under development, 2.0M SF of leasing, and about $283M of sales volume. Use it as a source-family cross-check and not as a blended average with Avison Young, because the two broker snapshots differ on vacancy, rent, and pipeline definitions. See Source: JLL Miami Industrial Market Dynamics Q1 2026.

JLL's Q2 2026 Miami Market Dynamics update carries that source family forward: $16.68/SF NNN asking rent, 1.7% YoY rent growth, 1.36M SF of YTD absorption, 6.3% vacancy, 9.4% availability, 3.80M SF under development, 769,130 SF of YTD deliveries, 2.5M SF of Q2 leasing, and approximately $280M of transaction volume. The allocation implication is positive demand with active supply exposure, not a blanket Miami-Dade industrial all-clear. See Source: JLL Miami Industrial Market Dynamics Q2 2026.

Marcus & Millichap's 2Q 2026 Miami-Dade teaser adds the forward-looking logistics overlay: MIA cargo shipments rose 13.6% in 2025 to a record 3.5M tons, Q4 2025 leasing exceeded 5.0M SF, and at least 24 leases above 100,000 SF were signed in the year ended March 2026. The same teaser keeps the industrial lane basis-sensitive because Miami saw negative 2025 absorption and roughly 1.0M SF of Q1 2026 move-outs as operating costs pressured small-bay and bulk users. See Source: Marcus & Millichap Miami-Dade Industrial Market Report 2Q 2026.

Avison Young's Q1 2026 Miami office page adds primary support for the premium-office momentum lane that was previously mostly secondary: 918K SF of Q1 leasing, nearly 100K SF of positive absorption, $523.3M of aggregate sales volume, and 75.1% February 2026 office utilization versus February 2019. It strengthens the Brickell / premium-node office case, but the page still does not expose vacancy, rent, WALT, concessions, tenant-credit, or submarket tables, so avoid broad office beta. See Source: Avison Young Miami Office Market Report Q1 2026.

Cushman & Wakefield's Q2 2026 Miami office report adds the missing current table: 14.6% vacancy, +245,511 SF Q2 / +327,774 SF YTD absorption, 830,465 SF YTD leasing, 394,556 SF under construction, and $66.40/SF overall full-service asking rent. The premium-versus-commodity split is source-specific: Brickell was 13.1% vacant at $90.91/SF, Downtown was 19.3% vacant at $68.32/SF, and Biscayne/Wynwood/Design was 20.9% vacant with 166,800 SF under construction. This upgrades Miami office from thin narrative support to a current, selective broker-table lane while preserving the rejection of broad Miami-Dade office beta. See Source: Cushman & Wakefield Miami Office MarketBeat Q2 2026.

CBRE's separate Q2 2026 Miami source family reports 344,000 SF of quarterly absorption, 14.9% vacancy, $68.60/SF average asking rent, and 1.3M SF under construction. The directional agreement with C&W strengthens the selective recovery read, but the differences in absorption, vacancy, rent, and construction show why the two broker universes should not be averaged or used interchangeably. See Source: CBRE Miami Office Figures Q2 2026.

Cushman & Wakefield's Q2 2026 Palm Beach office report adds the northern-county counterpart: 11.9% vacancy, 255,714 SF YTD absorption, 612,714 SF YTD leasing excluding renewals, $57.75/SF overall full-service asking rent, and 1.416M SF under construction. West Palm Beach CBD reached $100.59/SF at 12.6% vacancy, while North Palm Beach was 6.9% vacant and Boca Raton was 14.5% vacant with 152,715 SF of YTD absorption. This strengthens Palm Beach as a wealth-corridor office lane, but the pipeline and One West Palm delivery keep lease-up and product-fit risk central; do not blend Palm Beach with Miami-Dade or Broward office rows.

Newmark's Q1 2026 Broward page gives the Broward lane a second source family beside CBRE. The allocation read is still selective: Broward office can show a high $40.27/SF full-service asking-rent row while leasing activity falls 19.5% quarter over quarter and vacancy rises to 15.1%; Broward industrial can show 94,257 SF of positive Q1 absorption and 5.8% vacancy while a 753,126 SF pipeline, only 11.5% preleased, creates near-term supply pressure. See Source: Newmark Broward Real Estate Market Report Q1 2026.

JLL's Q1 2026 Broward industrial report adds a third Broward source family beside CBRE and Newmark: 155,704 SF of Q1 / YTD absorption, 6.2% vacancy, 9.3% availability, $16.80/SF NNN asking rent, 802,153 SF under development, 0.0% preleasing, no Q1 deliveries, about 1.05M SF of leasing, and $242M of Q1 sales volume. It strengthens the middle-county industrial demand / capital-interest lane, but rising concessions, vacancy up 40 bps from Q4 2025, and 80% renewal share in Q1 leasing keep Broward in basis, tenant-retention, and supply-exposure underwriting rather than generic coastal scarcity. See Source: JLL Broward Industrial Market Dynamics Q1 2026.

Marcus & Millichap's 2Q 2026 Fort Lauderdale industrial teaser adds the Broward small-bay overlay: sub-50,000-SF leasing rose about 30% in 2025 to roughly 2.8M SF and 6.7% annual retail-sales growth supported warehouse demand near Central and Southeast, but Pompano Beach and West Sunrise carried the greatest vacancy pressure. Keep this as a Fort Lauderdale / Broward teaser row beside CBRE and Newmark, not as a broad South Florida average. See Source: Marcus & Millichap Fort Lauderdale Industrial Market Report 2Q 2026.

Cushman & Wakefield's Q2 2026 Broward industrial report adds the current table-grade county, region, submarket, and product cross-check: 5.4% vacancy, +129,067 SF Q2 / +345,164 SF YTD absorption, 1.13M SF of YTD new leasing, 552,382 SF under construction, 140,878 SF of YTD completions, and $17.67/SF/year weighted net asking rent. Southeast Broward was tight at 3.2%; Pompano was source-reported at 7.6% but still positive YTD; Southwest Broward was 7.4% after a negative Q2; and warehouse / distribution drove the market's absorption while manufacturing was negative. This upgrades the Broward evidence stack without removing the source-family, completion-availability, and asset-level lease-up gates. See Source: Cushman & Wakefield Broward Industrial MarketBeat Q2 2026.

JLL's Q1 2026 Palm Beach industrial report adds a second county-specific Palm Beach source family beside CBRE: 88,128 SF of Q1 / YTD absorption, 7.4% vacancy, 9.2% availability, $14.17/SF annual NNN asking rent, 1.09M SF under development, 0.0% preleasing, 250,000 SF of lease / renewal activity, and roughly $106M of transaction volume. It strengthens Palm Beach's selective industrial lane, but the 0.0% preleasing, rising concessions, and recent Class A delivery pressure keep it a lease-up and product-fit call rather than a generic South Florida scarcity export. See Source: JLL Palm Beach Industrial Market Dynamics Q1 2026.

Cushman & Wakefield's Q2 2026 Palm Beach industrial table adds the current county/product cross-check: 8.1% vacancy, -70,451 SF of YTD absorption, 514,408 SF of YTD leasing, 810,989 SF under construction, and $13.69/SF weighted net asking rent. Warehouse/distribution was 10.0% vacant with -95,202 SF of YTD absorption, while Boca Raton was 1.9% vacant and Jupiter was 22.6% vacant with 200,834 SF of YTD absorption. The 162,000-SF SWI Technologies sublease materially affected the headline vacancy increase, so this remains source-family and node-specific evidence rather than a blended South Florida average. See Source: Cushman & Wakefield Palm Beach Industrial MarketBeat Q2 2026.

Capital should overweight scarce coastal logistics, verified trade-area retail, premium office only where tenant depth and basis are explicit, and mixed-use / residential repositioning where entitlement, insurance, and land-value math are proven. Broad multifamily beta, commodity office, and tourism-only retail remain weak shortcuts because the same coastal scarcity that supports values also raises insurance, flood, operating-cost, and affordability risk.

May 2026 Trophy Office Rent Ceiling

The May 2026 Miami-Dade office rent article strengthens the allocation case for very selective office exposure, not broad office beta. The useful signal is that 830 Brickell, Miami Beach, Bay Harbor Islands, Coconut Grove, and Wynwood examples are pushing premium-office asking or negotiation levels into $150/SF-plus and occasionally $200/SF-plus territory. The follow-on map version sharpens the geographic read: 830 Brickell is the clearest closed high-water mark, while One Kane and South Beach / Miami Beach boutique projects are family-office and ultra-high-net-worth office signals. Because the article family mixes asks, LOIs, discussions, gross rents, and NNN rents, it belongs as a rent-ceiling and bifurcation signal rather than a structured market metric.

The Rivani at 1691 Michigan Avenue adds a current Miami Beach refinancing and lease-up case: the September 2026 $114.3M BridgeInvest refinance closed with the renovated building reported 83% leased, including Playboy's roughly 20,000-SF headquarters lease. This supports selective asset-level capital access, not a metro credit or occupancy claim; the 83% is leased share, not physical occupancy. Building area and renovation-cost discrepancies remain unresolved, while the City-approved expansion and lease extensions remain contingent on the November 3, 2026 referendum and other conditions. See Rivani Miami Beach Refinancing 2026, The Rivani Miami Beach, and Class X by RIVANI.

Multifamily supply digestion now has two separate 2026 signals: MIAMI REALTORS + RWorld reports 34,965 units under construction across South Florida in July, while Colliers reports Q2 deliveries down to 2,692 from 3,152 a year earlier. At the operating level, South Florida developers described concessions and renewals as a linked lease-up and retention problem. These facts support submarket, delivery-timing, concession, and renewal diligence, not a general rent-growth or resident-retention forecast. See Miami Multifamily Concessions and Renewal Retention 2026.

Question

How should capital allocate across Miami and South Florida in 2026 now that the branch covers Miami-Dade, Broward, and Palm Beach separately rather than treating South Florida as one blended growth market?

Allocation Frame

Why South Florida Is Different

• Boundary discipline is the first underwriting move. Miami-Dade source notes support specific Q4 2025 industrial, office, multifamily, and retail metrics. Broward now has C&W, CBRE, JLL, Newmark, and Marcus industrial source-family rows, but the branch still warns not to flatten those rows into a South Florida average; Palm Beach remains thinner and should not borrow Miami-Dade or Broward evidence without source-geography control.
• Industrial scarcity is real but not uniform. Doral and Airport West Industrial Corridor is the best-supported current Miami-Dade logistics node in this source stack because it combines MIA adjacency, expressway access, and office-to-industrial land repricing. Avison Young's Q1 2026 Miami page shows high rents and pricing, but also higher vacancy after supply delivery. Pompano Beach and North Broward Industrial Corridor is a Broward value-add / lease-up node, not a direct substitute for Doral.
• Airport logistics now has fresher source-family support. Marcus & Millichap's 2Q 2026 teaser ties MIA cargo growth, pass-through freight, Q4 leasing volume, and 100K+ SF lease counts to the logistics thesis, but the same source makes tenant resizing, move-outs, and operating costs explicit.
• Broward small-bay demand is not the same as Pompano stabilization. Marcus & Millichap's Fort Lauderdale 2Q 2026 teaser says sub-50,000-SF leasing rose about 30% in 2025 to roughly 2.8M SF, supported by 6.7% retail-sales growth, but it also identifies Pompano Beach and West Sunrise as the greatest vacancy-pressure areas. Keep that beside CBRE's stabilization row, JLL's sales / leasing / no-prelease row, and Newmark's pipeline / prelease caveat.
• The current C&W table supports recovery, not uniform scarcity. Broward's +345,164 SF YTD absorption was driven by warehouse / distribution, while manufacturing remained negative and 76.3% of 2025-2026 completions was still available. Pompano's printed 7.6% vacancy also carries a source-internal arithmetic reconciliation note.
• Palm Beach has demand evidence, but new-vintage lease-up risk is explicit. JLL's Q1 2026 row broadly corroborates CBRE's Palm Beach vacancy and rent range, but it also reports 1.09M SF under development, 0.0% preleasing, rising concessions, and recent Class A delivery pressure. Treat Palm Beach industrial as a county-specific product-fit lane, not as Miami-Dade airport logistics or Broward small-bay evidence.
• Source-family discipline matters. JLL's Q1 2026 Miami industrial report supports the same high-rent constrained-supply theme as Avison Young, but the two broker snapshots do not match exactly on rent, vacancy, or pipeline. Treat the difference as a reason to underwrite current rent roll, competitive set, delivery exposure, and tenant depth directly.
• Airport and port access matter more than broad population growth. Miami industrial should be routed through MIA-adjacent logistics, truck access, building spec, and tenant demand. Port Everglades / Broward and Palm Beach logistics claims need source-geography control rather than a blended South Florida logistics label.
• Office is investable only as a bifurcation trade. Brickell and Downtown Miami Office Core separates Brickell's premium rent and tenant depth from broader Downtown risk. Avison Young's Q1 2026 office page strengthens the Miami office momentum read, but it still lacks the vacancy, WALT, rent, and tenant-credit fields needed for broad office beta. Edgewater and Wynwood Conversion Corridor is better read as a conversion / Live Local optionality node than as a normal office-income node.
• Palm Beach has distinct office, industrial, and luxury residential evidence. West Palm Beach and Palm Beach Wealth Corridor separates those source families. Shorecrest reports project-specific construction financing; neither its loan size nor a dated asking-price floor establishes broad credit availability, blended selling prices, condo absorption, or conventional apartment demand. Its 2027 completion remains a forecast and its current unit count unresolved; see Source: Related Ross Inks $157M Construction Loan for Shorecrest Condos, West Palm Beach.
• Palm Beach County apartment sales are property-level basis points. The Polo Lakes and Portofino Place trades do not establish countywide multifamily pricing or returns; see Recent Broward and Palm Beach Multifamily Transactions below and Polo Lakes Apartments.

What To Underwrite Carefully

• Coastal / insurance risk: Treat flood exposure, windstorm insurance, business-interruption risk, building hardening, lender reserves, and exit-liquidity haircuts as first-order underwriting variables for industrial, multifamily, retail, office, and hospitality. A high-rent coastal trade area can still fail if insurance and operating costs outrun NOI.
• Miami-Dade versus Broward versus Palm Beach: Use Miami-Dade metrics for Miami-Dade only. Broward requires Fort Lauderdale / Pompano-level proof. Palm Beach requires West Palm Beach / Palm Beach County product proof and should not borrow Miami-Dade airport-industrial or Brickell-office economics.
• Multifamily and residential: Strong occupancy is not enough when Q4 2025 rent growth was flat and the pipeline was large. Fort Lauderdale's Marcus teaser improves the Broward relative-demand read but still names affordability and concessions as rent-growth headwinds. Test submarket income depth, rent-to-income, concessions, insurance, regulation, and supply exposure before treating South Florida apartments as defensive.
• Affordable development capital: Separate each phase, affordability set-aside, public subsidy, construction loan, and permanent takeout. Gallery at Lummus Parc is one project-level example, not a South Florida apartment market signal; the FHFC property-specific flood zone and insurance inputs are underwriting assumptions, not marketwide costs.
• Retail and hospitality: Low retail vacancy and high asking rents support selectivity, not blanket conviction. Separate necessity retail, luxury retail, mixed-use retail, tourist-serving retail, and hotel-adjacent spend; hospitality exposure needs asset-level operating proof, not just South Florida visitor appeal.
• Airport hospitality watchlist: The reported MCR / Blue Lagoon expansion concept supports a possible Miami airport hotel-supply lane, but it is pre-verification pipeline evidence only. Require permits, financing, flag / operator details, construction timing, and room-night demand before underwriting it as supply or performance evidence. See Source: MCR Miami Airport Blue Lagoon Hotel Expansion 2026.
• Office and conversion: Brickell, Downtown, Edgewater / Wynwood, Fort Lauderdale, and West Palm Beach each need different questions. Conversion optionality depends on basis, geometry, zoning / Live Local eligibility, parking, affordability requirements, and execution timing.

Best-Fit Capital

• Best capital lane: Infill logistics, airport-adjacent industrial, Broward industrial lease-up, necessity / luxury retail in verified trade areas, and select mixed-use / residential repositioning tied to scarce land.
• Strict-selection lane: Premium office, multifamily, hospitality, and Palm Beach wealth-corridor residential can work, but only with corridor-specific demand, insurance, basis, tenant, and entitlement evidence.
• Watch-list / avoid lane: Commodity inland office, broad apartment rent-growth underwriting, flood / insurance-blind coastal assets, and tourism-only retail or hospitality stories without operating proof.

County Allocation Map

Verification Notes

• Supported primary / strong-secondary facts: Miami-Dade Q4 2025 industrial, office, and multifamily figures are supported by Miami Market Intelligence 2025. Miami-Dade Q4 2025 retail figures are supported by Miami and Atlanta Retail Market Intelligence Q4 2025. Broward / Palm Beach expansion is supported as a bridge source by Source - Greater Miami Broward Palm Beach Market Expansion 2026, with caveats against treating it as a structured import.
• Supported deal signals: Doral demolition-to-industrial, Pompano industrial acquisition, Aventura mixed-use construction, Edgewater Live Local optionality, and Shorecrest luxury condo financing are supported by the linked source notes and should be used as capital signals rather than complete market proof.
• Counterpoints / limits: Several source notes are deal-specific or bridge notes. Broward now has C&W, CBRE, JLL, Newmark, and Marcus industrial source-family rows, and Palm Beach now has CBRE plus JLL industrial rows, but broad South Florida claims still need explicit as-of and geography labels.
• Data layer caveat: Broward now has a complete C&W Q2 2026 industrial geography and product table, while its other broker rows and Palm Beach coverage remain differently scoped. Use Broward observations as source-labeled C&W / CBRE / JLL / Newmark / Marcus evidence and Palm Beach observations as CBRE / JLL / Marcus evidence, not as blended county averages.

Ken Griffin's reported $86M Palm Beach transaction with Blackstone adds a high-end mixed-use node liquidity marker: the sale involved a retail and office building in Palm Beach's luxury shopping district. The item supports the distinction between prime, affluent-node retail/office and broader South Florida exposure, but does not disclose cap rate, NOI, rent roll, or stabilized yield and should not be used as a metro valuation comp. See Source: Ken Griffin Strikes $86M Palm Beach Real Estate Deal With Blackstone.

The Related Group, PEBB Enterprises, and BH Group's reported start of the 494-home Broken Sound Residences project converts the former Office Depot corporate campus into a 28-acre mixed-use destination with residences, retail, wellness, and modern office space. It is useful evidence for Boca Raton's office-to-mixed-use redevelopment lane and for adaptive reuse as a supply-creation mechanism, but remains delivery-stage evidence without absorption, pricing, or stabilized operating proof. See Source: Related-Led Group Advancing 494-Unit Boca Raton Apartment Community.

Estate Cos.' reported $13M purchase of a 1.19-acre West Palm Beach lot, financed with an $8.45M Banesco mortgage for the second phase of an apartment project, adds a land-basis and construction-financing signal to the Palm Beach multifamily lane. The source does not disclose unit count, rents, total cost, or delivery timing, so it is not a stabilized comp or proof of broad West Palm absorption. See Source: West Palm Beach Developer Buys Lot, Apartments on Way.

Citadel's reported completion of its Brickell block assemblage, including a planned headquarters tower and broader approximately $2.5B project that may include apartments and a hotel, adds a corporate-user-led land-assembly mechanism. The project remains planned, not committed office delivery or absorption. A September 14 drilling-rig collapse injured four people; Miami-Dade issued a stop-work order pending contractor safety-plan submission and County review. Cause, restart date, and schedule impact remain unknown. Treat this as a project-specific construction execution risk. See Source: Citadel Brickell HQ Rig Incident and Stop-Work Status 2026 and Source: Citadel Miami HQ Stop-Work Order After Rig Collapse 2026.

Sweetbird North updates that Design District construction-finance signal with a reported 55,000-SF lease to Atria Health Research across floors three through five, while Raycliff Capital will take a floor. Commercial Observer reports an eight-story, 120,000-SF mixed-use project with 92,000 SF of office and 22,500 SF of ground-floor retail, a $125M construction loan, and 2028 completion expectation. The floor-area components do not sum to the stated total; retain each as reported. This is project-level preleasing and execution evidence, not broad Miami office recovery or an achieved rent signal. See Sweetbird North, Source: Investment Group Inks $125M Construction Loan for Miami Design District Office/Retail Project, and Source: Commercial Observer Sweetbird North and Atria Health Research Lease 2026.

Banyan Street Capital and Independencia reportedly obtained $53.5M from Wells Fargo to refinance the 290,000-SF Doral Center office campus. The refinancing adds debt liquidity evidence for a large South Florida suburban office asset, but leverage, rate, valuation, occupancy, and business-plan economics were not disclosed. See Source: Banyan Street, Independencia Refi South Florida Office With $54M.

Aconcagua Group reportedly obtained a $35M construction loan from S3 Capital for Phase III, the final phase of the 374-unit Casa Princeton multifamily community in South Florida. The financing supports a delivery-stage supply and capital-availability marker, but the source does not disclose total cost, leverage, rents, or lease-up and is not a stabilized market comp. See Source: Princeton Developer Obtains Financing for Phase III of 374-Unit Rental Community.

The August 2026 report on 3250 Mary Street in Coconut Grove discloses both purchase and resale prices. Its headline “gain” is a rounded gross price difference, not verified net profit or investor return. Prior acquisition basis, exact cash-flow dates, operating history, costs and financing remain unreconciled; one reported resale does not establish broad market liquidity or repeatable repricing. See Source: Coconut Grove Office Flipped For $15M Gain After One Year. Compare operating-income and redevelopment hypotheses under actual property rights through Office Valuation Methodologies, then test cash flows through CRE Return Metrics and KPIs. Use Office Disposition and Exit Strategy and Hold, Sell, and Refinance Decision Framework to compare owner-specific alternatives; permits, leases, costs and funding can overturn either hypothesis.

Waste Management's reported $379M acquisition of a massive Medley site, with seller financing maturing in 20 years, adds a corporate-user industrial-land and unusually long-duration financing signal to South Florida. It supports user-led logistics/industrial control, but site program, price allocation, operating income, and delivery plans were not disclosed. See Source: Waste Management Buys Medley Site For $379M: The South Florida Deal Sheet.

PGIM's reported $98M sale of Coral Gables offices after nearly 20 years of ownership adds a long-hold institutional-exit marker to South Florida office. It does not provide cap rate, occupancy, price per square foot, or buyer strategy and should not be treated as a metro valuation comp. See Source: PGIM Sells Coral Gables Offices For $98M: The South Florida Deal Sheet.

JBL Asset Management reportedly bought a 25,504-SF ground-floor retail condo near the Miami Design District for $17.3M, or roughly $678/SF. The transaction adds a prime-node, small-format luxury-retail basis marker, but does not disclose rent, NOI, tenant sales, or yield and should not be generalized to South Florida retail. See Source: JBL Asset Management Buys Retail Condo Near Miami Design District.

Executive Relocation and Office Footprint

Google's reported expansion from 10,000 SF to 45,000 SF at 1450 Brickell adds a bounded executive-relocation demand mechanism to the South Florida office thesis. The report linked the move to founders Sergey Brin and Larry Page establishing substantial Miami residences and noted similar out-of-state companies expanding locally after leadership moves. Because the lease report relied on anonymous sources and the parties did not comment, treat it as a directional occupier signal rather than verified rent, term, absorption, or proof that executive migration produces broad office demand. See Source: REPORT: Google Quadruples Miami Office After Founders' Mansion Buys.

Condo Sales Infrastructure and Entitlement Volatility

Miami's reported sales-gallery spending is a reusable preconstruction-capital mechanism. Developers are building large, branded, experiential centers—one reported Property Markets Group center covered roughly 22,000 SF—to sell $3M-plus units before towers deliver. The gallery is temporary, but it can function as a sales, branding, and buyer-conversion investment in a condo market where product differentiation and presales affect financing and execution. It is not evidence of sellout, absorption, or project returns. See Source: Miami's Condo Craze Has Developers Spending Millions On Sales Galleries.

Boca Raton's post-election development conflict adds a local entitlement-volatility screen to South Florida underwriting. Residents rejected a reported $1B development, a new political majority adopted restrictive ordinances, and developers described changing expectations as complicating projects despite code allowances. The durable lesson is that legal entitlement is not the same as political or administrative execution certainty; projects need schedule, insurance, financing, and redesign contingencies. See Source: Boca Raton's New Leaders Throwing 'All Kinds Of Curveballs' At Developers.

Braemar's reported $190M agreement to sell the 142-key Pier House Resort & Spa in Key West is a dated disposition and corporate-liquidity case. The implied agreement consideration is about $1.34M per key; it is not a closed-sale operating comp or a realized gain. The article's acquisition and renovation history does not establish Braemar's complete cost basis. Keep the corporate fee context separate: the June-quarter filing records other asset-sale closings, a fee trigger and partial payment, rather than a Pier House closing or full fee settlement. No current October transaction or transition status is attested here. See Source: Braemar To Sell Key West Hotel For $190M: The South Florida Deal Sheet and Source: Braemar Hotel REIT Self-Management Breakup Fee 2026.

Review manager and shareholder authority through Fund Governance and Alignment and transition capability through Manager Selection and Sponsor Diligence. Match debt, costs, cash-flow rights and proceeds through CRE Valuation Methodologies, then compare hold, sell or refinance through Hold Sell and Refinance Decision Framework. Corporate liquidity needs do not establish local hotel demand, buyer returns or a market-wide cap rate.

Kolter and BH Group's reported nearly $18M spend on units and commercial space near Miami Beach's Normandy Plaza adds a redevelopment-assemblage mechanism with building-condition risk. The partners bought ten units in a 172-unit condo tower after prior garage damage led to an evacuation, and also acquired commercial units adjacent to a hotel they already owned; the reported objective was a boutique condo project. This is a site-control and adaptive-reuse signal, not proof of entitlement, remaining-unit acquisition, construction financing, or feasibility. See Source: Kolter, BH Spend $18M Toward Miami Beach Buyout: The South Florida Deal Sheet.

Relocation, Downsizing, and Cost Arbitrage

Greenberg Traurig's reported move from 30,000 SF at Phillips Point to a 25,000-SF full-floor lease at Related Ross' 15 CityPlace adds a useful office-demand distinction: a tenant can downsize its immediate footprint while retaining a growth-oriented, amenity-rich location. The lease sits within a larger construction and anchor-tenant program, including Cleveland Clinic, and the prior property is being upgraded and backfilled. Read it as building-level quality and relocation evidence, not net-new metro absorption. See Source: Greenberg Traurig Relocating Longtime West Palm Beach Office: The South Florida Deal Sheet.

Stablecoin Development Corp.'s reported move from California to West Palm Beach to reduce costs adds a cost-arbitrage and executive/occupier relocation mechanism. The crypto-focused company took space at Esperanté Corporate Center after terminating its California lease, while the 256,000-SF building had recently refinanced. The move is company-specific and the article does not establish rent, headcount, or sustained demand; use it to test how operating-cost differences can influence office geography. See Source: Pharma-Turned-Crypto Firm Moves HQ From California To West Palm: The South Florida Deal Sheet.

Industrial Migration and Vacancy Exposure

Nearly Natural's reported closure of its Hialeah warehouse and relocation to Lakeland, with 60 layoffs, provides a tenant-level industrial migration signal. The vacated Prologis Countyline 100 building is a 241,000-SF facility marketed for future availability with 66 dock doors, while Miami-Dade industrial vacancy reportedly reached 7.1% amid 2.9M SF under construction. This is not proof of a broad exodus, but it demonstrates how tenant relocation can expose large-box vacancy and reinforce the need to underwrite replacement demand and submarket rent differences. See Source: Fake-Plant Maker Shuttering Hialeah Warehouse, Moving To Lakeland.

The Turnberry Isle lawsuit adds a vested-rights and site-control risk to luxury condo redevelopment. Associations representing 556 residents challenged Aventura's approval of a 264-unit project, alleging that covenants required owner consent for material changes. The dispute shows how fragmented ownership, covenants in lieu of unity of title, and legacy community rights can block or delay redevelopment even after city approval; litigation outcome and project delivery remain unresolved. See Source: Jeffrey Soffer, Aventura Sued By Condo Owners For Pushing Yacht Club Project.

Florida construction-defect litigation adds a separate insurance and professional-liability constraint to condo development. The preserved report describes claims involving concrete, roofing, and water intrusion under Chapter 558, with design professionals reporting rising premiums and carrier withdrawal as defect claims grow. Treat this as a development-cost, consultant-liability, and insurability screen; it does not establish a statewide loss ratio or project-specific defect. See Source: Engineers, Architects Call For Relief From Construction Defect Suit 'Train Wreck'.

Building-Condition and Tenant-Liability Risk

The Wynwood Annex lawsuit adds a property-condition and post-sale liability mechanism to South Florida office underwriting. The buyer alleges unresolved expansion-joint and water-intrusion problems after buying the eight-story building for $49M, with tenants reportedly exposed to wet conditions and safety concerns. The allegations remain disputed and litigation is unresolved, but the case reinforces diligence on deferred repairs, seller representations, waterproofing, tenant safety, and indemnity before treating renovated creative office as stabilized. See Source: Buyer of Wynwood office building alleges “dangerous conditions” and “Band-Aid” repairs in suit against East End.

Live Local Execution and Sponsor Dispute

The HueHub dispute adds a governance and execution-risk overlay to Florida's Live Local affordable-housing pipeline. The planned $880M, seven-tower project secured zoning approval and a public-sector workforce-renter agreement but had not broken ground while the developer and former partner litigated, counsel withdrew, and compensation claims escalated. The project demonstrates that statutory density and affordability incentives do not eliminate sponsor, equity, partner, counsel, demolition, and construction-start risk. See Source: Pablo Castro's Lawyers Quit HueHub Suit, Citing 'Irreconcilable Differences'.

Live Local Financing Execution

Live Local optionality still has a separate debt-execution gate. At a September 4 industry event, panelists described lender questions about tax-relief durability and affordability compliance; the reported Florida Housing Coalition tracker snapshot showed 182 proposals / about 55,000 proposed homes and roughly 6,000 homes under construction. The dashboard is updated regularly and its entries are proposals at different stages, so treat those counts as event-time context rather than current approvals, financings, or stalled units. FHFA's 2026 rule that at least half of each Enterprise's multifamily purchases be mission-driven is a portfolio-level requirement, not a commitment to fund any one Live Local deal. Check each property's applicable affordability covenant, current tax-abatement documentation, and lender program before crediting tax relief in underwriting. See Source: Live Local Act Projects Struggle To Get Fannie, Freddie, HUD On Board.

Construction-Lender Enforcement

Investor-litigation reporting adds a sponsor-level counterparty watch alongside project-specific disputes. Bisnow's August 25 snapshot covered six suits; later September reporting described seven investor suits, with the Area NBV action dismissed voluntarily on September 25 and six others pending as of September 28. These are reported allegations and procedural updates, not findings of liability; the complaint-level amounts are not verified debt balances. Keep these suits distinct from the Metro Parc South mortgage foreclosure, which names the project borrower rather than MG Developer or its CEO. See Source: MG Developer Faces 6 Lawsuits Alleging Millions In Overdue Debt and Source: MG Developer Faces Foreclosure Over Alleged $31M Default at Metro Parc South.

Metro Parc South adds one project-specific construction-finance dispute to the sponsor and execution-risk screen. Lenders allege $31.11M is due under a $105M maximum financing package and seek foreclosure against the borrower LLC; MG Developer says it is negotiating a resolution. The pending allegations do not establish a completed foreclosure, project loss, or broader South Florida lending trend, and the complaint does not name MG Developer or its CEO as defendants. Keep the case distinct from the separate Metro Parc North project. See Metro Parc South and Source: MG Developer Faces Foreclosure Over Alleged $31M Default at Metro Parc South.

Sponsor Control And Investor Funds

The Location Ventures criminal case provides a company-specific sponsor-control and preconstruction-deposit risk example. Kapoor's signed factual proffer states that his former development company and project entities raised approximately $89.36M, estimates about $89M in loss after specified distributions, and separately identifies $10.63M in excess condominium deposits misused. The plea agreement covers two counts; Bisnow and Miami Herald reporting say the court imposed 136 months on August 27. Keep gross raised, estimated loss, deposit misuse, and sentence scope distinct. This case informs diligence on escrow controls and inter-project fund use, but does not establish a South Florida marketwide loss rate or the status of every Location Ventures project. See Source: Developer Rishi Kapoor Sentenced To 11 Years For Money Laundering, Tax Fraud.

Waterfront Entitlement Risk

West Palm Beach reportedly moved toward a six-month pause on waterfront development in response to resident concerns about rapid growth. This adds a local entitlement and community-acceptance gate to South Florida waterfront underwriting: demand and capital do not remove the risk of moratoria, infrastructure strain, political response, or schedule delay. Source: Fast-Growing West Palm Beach Moves To Pause Waterfront Development

The Florida Keys hotel market is separately described as attracting investor interest as leisure travel strengthens despite shallow supply. Underwrite that scarcity case through seasonality, insurance, resilience, water/infrastructure, and operating evidence. Source: Investors Want A Slice Of Exclusive Florida Keys Hotel Market

Severe-Condition Condo Distress

Integra reportedly acquired an evacuated Broward condominium complex through court-ordered auction after the property had been vacant for two years because it was deemed unsafe for residents. This is a severe-condition distress and redevelopment pathway: unsafe occupancy can erase operating income and shift value into litigation, remediation, code, capital, and redevelopment execution. Source: Integra Acquires Evacuated Broward Condo Complex Via Court-Ordered Auction

Destination-Resort Diversification

Ryman reportedly agreed to acquire the 409-acre Grande Lakes Orlando Resort for approximately $1.4B, including two luxury hotels, golf, event space, food-and-beverage, waterpark, and spa/fitness amenities. Treat it as a diversified destination-resort capital datapoint, not a generalized South Florida hotel comp. Source: Ryman Hospitality Properties Agrees to Buy Grande Lakes Orlando Resort for Nearly $1.4B

Florida Keys Operating Continuity

Bass Pro Shops reportedly acquired the 27-acre, 254-room Cheeca Lodge & Spa in Islamorada while Northwood Investors continued as manager. A strategic owner retaining experienced management can preserve operating know-how through a destination-resort ownership change; the transaction is not a generalized hotel valuation comp. Source: Bass Pro Shops Acquires 27-Acre Cheeca Lodge & Spa Resort in Florida Keys

Affordable Senior and Student Housing Delivery

McDowell reportedly started a $38.9M second phase adding 120 age-restricted affordable apartments within a 360-home Pasco County master plan. Florida Tech separately opened a 556-bed student complex using municipal bonds and a P3. The completed Terrazul student-housing property beside FIU adds a different lifecycle signal: sponsors reported a $180M Corebridge refinance of the existing construction debt, with 98% occupancy attributed to ownership in September 2026 reports. These are project-level delivery and financing cases, not generalized South Florida pricing or demand benchmarks; the refinance terms are undisclosed. Source: McDowell Starts Work on Hudson Age-Restricted, Affordable Apartments Source: Florida Tech Opens $96 Million Student Dorm Source: Connect CRE $180M Terrazul Student Housing Refinance

May 19 2026 RSS Watchlist

• Adds a Miami luxury-residential branding example where hospitality / entertainment brands are being used to differentiate condo inventory. See source-kygo-palm-tree-miami-condo-branding-2026. Caveat: Branding announcement only; verify sell-through and pricing before using as demand evidence.
• Adds a South Florida / Boca rental construction-financing signal. See source-nadg-boca-raton-rental-construction-loan-2026. Caveat: Verify project scope, loan, and delivery timing before market-supply conclusions.

Atlantica at Dania Beach adds a separate Broward distress-resolution case: Prestige and MV Real Estate Holdings reportedly reacquired 118 of the 124 condo units for $27.3 million by deed in lieu after only six reported condo sales. The earlier 2024 sale price is $36.75 million in Commercial Observer and $36.7 million in Prestige's account, and the two transfers do not cover the same interest or unit count. Use this for unit-level title, rental/condo strategy, and distressed-transfer diligence, not as a conventional per-unit comp or broad South Florida condo-demand signal. See Atlantica at Dania Beach and Source: Prestige Reacquires Atlantica at Dania Beach in Deed-in-Lieu Transfer 2026.

Submarket allocation rankings — October 24, 2026

Independent review, October 24, 2026. The new submarket orders have completed claim review. Existing national entries link industrial, multifamily, office, retail comparisons. Each comparison keeps its own investor mandate and provider geography. A parent’s narrower allocation lane does not extend to every child candidate. See Top Ten MSA Submarket Rankings for coverage and release status.

Investment conclusion and assumptions. These are CRET's conditional priorities for an income-focused, moderate-risk investor buying existing income-producing assets for a seven-year hold. The investor can renew leases, fund ordinary improvements and manage through a slower leasing period. Ground-up construction, major conversion and unfunded lease-up are outside the base plan. Debt is limited to the lower of 60% loan-to-value and proceeds supported by 1.35x debt-service coverage after recurring capital reserves, using actual lender terms. These are analytical assumptions, not observed loan terms or a reported market standard.

Price condition. The order assumes comparable current income yields after recurring capital, insurance and other operating expenses, with no required near-term rent rebound. No compatible submarket entry-price, achieved NOI, cap-rate or complete transaction tape establishes an unconditional return ranking. A lower-ranked property can be preferable when its verified price, lease credit and funded costs provide better downside support. Asking rent is a source measure, not the investor's cash flow. Each stated pairwise priority is conditional on that price test.

Method and evidence. Rank current income support first, then net demand, future competing construction, survey depth and execution risk. Keep each publisher row, county, product/class cohort, period, vacancy definition and rent basis intact. The facts below are source reports; the order, posture and diligence gates are CRET interpretations. These selected universes are not exhaustive neighborhood rankings. A CBSA label provides navigation and does not certify the provider's boundary. No metric cards are emitted before authoritative public rows and their source bindings are checked.

Scenario tests. Re-underwrite two years without rent growth, a 10% fall in NOI, a 200-basis-point increase in debt cost and a 100-basis-point wider exit capitalization rate. For apartments, add a month of concessions and lower occupancy. For office, industrial and retail, add a year of downtime on the largest expiring lease and fully fund tenant improvements and leasing fees. Stress insurance premiums by 25% in a separate case. These are adverse scenarios, not forecasts. Reject an entry that needs refinancing proceeds, uncommitted tenant demand or an unfunded cash call to survive them.

Conviction and reversal. Conviction 3 denotes a coherent public provider table with material price, property or comparability limits. Conviction 2 denotes a tactical or source-conflicted call. Conviction 1 denotes a specialist lane outside the base investor's routine work. Conviction measures evidence strength. It does not establish expected returns. Reorder when verified after-reserve entry yields change, lease commencements or renewals change current income, source-consistent vacancy/rents/absorption change the comparison, or competing supply and property costs differ from the assumed case. A lower price alone does not repair an unfunded plan. All new boards completed independent claim review; their national-parent coverage is stated in the cohort hub.

Multifamily: Pembroke/West Miramar leads the selected income screen; county and pipeline differences matter.

Chosen universe. Nine selected, separately labeled C&W Q2 multifamily submarkets across Miami-Dade, Broward and Palm Beach counties. These three provider surveys are not merged into one operating denominator. The candidate set deliberately includes growth/supply caution rows and is not an exhaustive tri-county opportunity set. Properties are generally 100+ units, affordable-only rents excluded; stabilized occupancy excludes recent delivery and initial lease-up.

1. Pembroke Pines/West Miramar (Broward) — Selective (conviction 3/5). Select Pembroke/West Miramar income without paying for rapid rent growth. Pembroke Pines/West Miramar precedes Boca Raton because construction is zero; Boca has stronger rent growth and slightly higher occupancy. Source support: Q2 stabilized occupancy 94.4%; construction zero. 130 units absorbed YTD; effective rents +0.1% YoY. Counterevidence and scenario risk: Rent growth of 0.1% leaves little expense cushion. Insurance and capital costs can remove the income advantage. Entry gate: Verify collections and expense growth while rent growth is only 0.1% YoY. Source: Cushman & Wakefield Broward Multifamily MarketBeat Q2 2026.

2. Boca Raton (Palm Beach) — Selective (conviction 3/5). Select Boca Raton income where rent growth survives the entry price. Boca Raton precedes Hialeah/Miami Lakes because its construction exposure is smaller relative to inventory; Hialeah has stronger occupancy and demand. Source support: Q2 stabilized occupancy 94.5%; rents +2.9% YoY. 57 units absorbed YTD; inventory 13,480 units. Counterevidence and scenario risk: 588 units under construction against modest YTD absorption. A premium basis can absorb the reported rent benefit. Entry gate: Check 588 units underway and actual net income after insurance and capital reserves. Source: Cushman & Wakefield Palm Beach Multifamily MarketBeat Q2 2026.

3. Hialeah/Miami Lakes (Miami-Dade) — Selective (conviction 3/5). Select Hialeah/Miami Lakes after funding its apartment pipeline. Hialeah/Miami Lakes precedes Kendall because occupancy and rent growth are stronger; Kendall has a much smaller pipeline. Source support: Q2 stabilized occupancy 96.4%; rents +1.5% YoY. 491 units absorbed YTD. Counterevidence and scenario risk: 1,482 units under construction. Stabilized occupancy excludes recent deliveries and initial lease-up. Entry gate: Verify 1,482 units underway and exclude lease-up inventory from the stabilized-rate claim. Source: Cushman & Wakefield Miami Multifamily MarketBeat Q2 2026.

4. Kendall (Miami-Dade) — Selective (conviction 3/5). Select Kendall income with current rent and expense proof. Kendall precedes Pompano/Deerfield because occupancy and absorption are slightly stronger; Pompano has faster rent growth and a smaller pipeline. Source support: Q2 stabilized occupancy 94.2%; rents +0.6% YoY. 213 units absorbed YTD; 429 units underway. Counterevidence and scenario risk: 0.6% rent growth provides a limited expense cushion. Stabilized occupancy excludes recent deliveries and initial lease-up. Entry gate: Use collected rent and insurance quotes; do not assume the stabilized survey covers new lease-up. Source: Cushman & Wakefield Miami Multifamily MarketBeat Q2 2026.

5. Pompano Beach/Deerfield Beach (Broward) — Selective (conviction 3/5). Select Pompano/Deerfield income after pricing competing delivery. Pompano/Deerfield precedes Royal Palm Beach/Wellington because occupancy is higher; Royal Palm has stronger absorption and rent growth. Source support: Q2 stabilized occupancy 94.1%; rents +1.1% YoY. 175 units absorbed YTD. Counterevidence and scenario risk: 356 units under construction. 423 reported deliveries exceed 175 units of YTD absorption. Entry gate: Test 356 units underway, completed supply and actual tenant retention. Source: Cushman & Wakefield Broward Multifamily MarketBeat Q2 2026.

6. Royal Palm Beach/Wellington (Palm Beach) — Selective (conviction 3/5). Select Royal Palm/Wellington where rent growth reaches collections. Royal Palm Beach/Wellington precedes Downtown Miami because construction is far lower and rent growth is positive; Downtown has higher stabilized occupancy and deeper demand. Source support: Q2 effective rents +2.5% YoY. 224 units absorbed YTD; only 372 units underway. Counterevidence and scenario risk: Q2 stabilized occupancy 93.2%. Stabilized occupancy leaves lease-up and expense risk outside the headline. Entry gate: Verify occupancy gains and expenses against 372 units underway. Source: Cushman & Wakefield Palm Beach Multifamily MarketBeat Q2 2026.

7. Downtown Miami (Miami-Dade) — Selective (conviction 3/5). Select Downtown Miami only after pricing a large apartment pipeline. Downtown Miami precedes Weston/Davie because rent erosion is milder and absorption is deeper; Weston/Davie has a smaller absolute pipeline. Source support: Q2 stabilized occupancy 94.1%; 1,460 units absorbed YTD. 29,935-unit survey gives meaningful operating depth. Counterevidence and scenario risk: Effective rents fell 0.8% YoY. 4,662 units under construction sustain concession risk. Entry gate: Fund competing lease-up from 4,662 units underway at the actual entry basis. Source: Cushman & Wakefield Miami Multifamily MarketBeat Q2 2026.

8. Weston/Davie (Broward) — Tactical (conviction 2/5). Keep Weston/Davie tactical until lease-up exposure is funded. Weston/Davie precedes Homestead/South Dade because stabilized occupancy is higher; both require substantial supply and rent reserves. Source support: Q2 stabilized occupancy 94.1%. 151 units absorbed YTD. Counterevidence and scenario risk: Effective rents fell 3.7% YoY. 2,413 units underway versus 7,357 units of inventory. Entry gate: Require a discount and liquidity that fund 2,413 units underway and weak rents. Source: Cushman & Wakefield Broward Multifamily MarketBeat Q2 2026.

9. Homestead/South Dade (Miami-Dade) — Tactical (conviction 2/5). Keep Homestead/South Dade tactical until occupancy supports current income. The weakest selected stabilized occupancy row stays last; positive absorption does not eliminate its vacancy and construction burden. Source support: 248 units absorbed YTD. Effective rent $1,930/unit is below selected Downtown Miami and Hialeah rows; this may widen affordability if tenant incomes hold. Counterevidence and scenario risk: Q2 stabilized occupancy 89.1%; effective rents -3.3% YoY. 2,090 units under construction sustain competition. Entry gate: Stress prolonged lease-up and concessions against 2,090 units underway before accepting the basis. Source: Cushman & Wakefield Miami Multifamily MarketBeat Q2 2026.

Scope, stress and reversal limits. The Miami table labels annual deliveries separately from YTD absorption; no annual-to-YTD supply ratio is manufactured. Palm Beach narrative vacancy differs from stabilized occupancy and contains a Broward template typo. County scopes, cohorts and report vintages remain separate. Apply the adverse cases above to each selected row. Upgrade only when actual lease cash flow, funded capital and source-consistent competing supply support the price. Downgrade when vacancy, concessions, tenant credit, capital needs or insurance costs break that case.

Office: Miami Lakes and Palm Beach Gardens lead selected income; trophy pipelines need a price test.

Chosen universe. Nine selected elementary C&W Q3 office rows across Miami-Dade, Broward and Palm Beach. Miami Lakes, Palm Beach Gardens, Airport West, Coral Gables, Plantation, Cypress Creek/Commercial, Northwest Boca Raton, Brickell Avenue and West Palm Beach CBD remain distinct. Broad county and regional totals are not ranked alongside their components.

1. Miami Lakes (Miami-Dade) — Selective (conviction 3/5). Select Miami Lakes leased office after checking tenant concentration. Miami Lakes precedes Palm Beach Gardens because construction is zero; Gardens has lower vacancy and stronger demand but active new supply. Source support: Q3 vacancy 8.7%; construction zero. YTD absorption +16,704 SF; Q3 +3,593 SF. Counterevidence and scenario risk: Only 1.42M SF in the source survey. A small tenant pool can change leasing and rollover costs. Entry gate: Verify tenant concentration, rollover and net-effective rents before accepting the entry yield. Source: Cushman & Wakefield Miami Office MarketBeat Q3 2026.

2. Palm Beach Gardens (Palm Beach) — Selective (conviction 3/5). Select Palm Beach Gardens income with a priced new-building slate. Palm Beach Gardens precedes Airport West because vacancy is lower; Airport West has much deeper absorption and zero construction. Source support: Q3 vacancy 8.1%; YTD absorption +38,753 SF. Q3 absorption +21,566 SF. Counterevidence and scenario risk: 200,000 SF under construction. New competing space can raise concessions and capital needs. Entry gate: Test 200,000 SF underway and tenant replacement costs against current income. Source: Cushman & Wakefield Palm Beach Office MarketBeat Q3 2026.

3. Airport West (Miami-Dade) — Selective (conviction 3/5). Select Airport West office where signed income supports renewal costs. Airport West precedes Coral Gables because vacancy is lower and absorption slightly stronger; Coral Gables has a higher rent quote, not a proved return advantage. Source support: Q3 vacancy 12.9%; construction zero. YTD absorption +145,962 SF; Q3 +53,944 SF. Counterevidence and scenario risk: 12.9% vacancy still provides tenant alternatives. Full-service asking rent $45.69/SF is not achieved net income. Entry gate: Verify tenant credit, expiries and actual lease economics before capitalizing rent. Source: Cushman & Wakefield Miami Office MarketBeat Q3 2026.

4. Coral Gables (Miami-Dade) — Selective (conviction 3/5). Select Coral Gables leased assets with capital and rent discipline. Coral Gables precedes Plantation because demand depth is much greater; Plantation has slightly lower vacancy and positive current-quarter absorption. Source support: YTD absorption +141,696 SF; construction zero. YTD leasing 157,739 SF. Counterevidence and scenario risk: Q3 vacancy 14.1%; absorption -2,662 SF. Premium asking rents can mask renewal and fit-out costs. Entry gate: Fund tenant improvements and verify achieved rents after concessions. Source: Cushman & Wakefield Miami Office MarketBeat Q3 2026.

5. Plantation (Broward) — Selective (conviction 3/5). Select Plantation income with verified tenant renewal economics. Plantation precedes Cypress Creek/Commercial because YTD absorption is larger and both have no construction; Cypress Creek has slightly lower vacancy and more leasing. Source support: Q3 absorption +24,617 SF; YTD +23,364 SF. Construction zero; overall vacancy 13.7%. Counterevidence and scenario risk: YTD leasing 77,396 SF is below Cypress Creek. Rollover capital can offset the positive occupied-space change. Entry gate: Verify tenant credit, lease expiries and capital reserves. Source: Cushman & Wakefield Broward Office MarketBeat Q3 2026.

6. Cypress Creek/Commercial (Broward) — Selective (conviction 3/5). Select Cypress Creek office where current income funds rollover. Cypress Creek/Commercial precedes Northwest Boca Raton because vacancy is lower; Northwest Boca has stronger absorption and leasing depth. Source support: Q3 vacancy 13.6%; construction zero. YTD leasing 242,290 SF; absorption +10,347 SF. Counterevidence and scenario risk: Only 10,347 SF of net YTD demand despite leasing activity. Gross asking rent $36.50/SF excludes actual leasing capital. Entry gate: Reconcile lease terms, concessions and renewals with the source leasing volume. Source: Cushman & Wakefield Broward Office MarketBeat Q3 2026.

7. Northwest Boca Raton (Palm Beach) — Selective (conviction 3/5). Select Northwest Boca income without treating one large lease as the market. Northwest Boca Raton precedes Brickell because construction is zero and YTD leasing is deeper; Brickell has lower vacancy and slightly greater absorption. Source support: YTD absorption +174,352 SF; construction zero. YTD leasing 412,062 SF; Q3 absorption +19,200 SF. Counterevidence and scenario risk: Q3 vacancy 15.5%. Concentrated large leases do not establish demand for every building. Entry gate: Verify tenant concentration, actual lease commencements and funded rollover. Source: Cushman & Wakefield Palm Beach Office MarketBeat Q3 2026.

8. Brickell Avenue (Miami-Dade) — Tactical (conviction 2/5). Keep Brickell tactical when the purchase requires a trophy premium. Brickell precedes West Palm Beach CBD because vacancy is slightly lower and demand is deeper; both have large pipelines. This tactical call concerns new entry price, not a claim that all Brickell assets are distressed. Source support: Q3 vacancy 12.0%; YTD absorption +177,731 SF. Q3 absorption +12,718 SF; YTD leasing 231,123 SF. Counterevidence and scenario risk: 1,450,000 SF under construction. Overall gross asking rent $91.52/SF does not justify any entry price. Entry gate: Require signed net income and a basis that funds 1.45M SF of future competition. Source: Cushman & Wakefield Miami Office MarketBeat Q3 2026.

9. West Palm Beach CBD (Palm Beach) — Tactical (conviction 2/5). Keep West Palm Beach CBD tactical when future scarcity is priced in. West Palm Beach CBD stays below Brickell because demand is shallower and construction is large relative to its 3.95M-SF survey. Source support: Q3 vacancy 12.2%; YTD absorption +49,288 SF. Q3 absorption +14,082 SF; YTD leasing 289,569 SF. Counterevidence and scenario risk: 1,241,450 SF under construction. Gross asking rent $98.13/SF is not an investor entry-yield measure. Entry gate: Require executed rents and funded carry against 1.24M SF underway. Source: Cushman & Wakefield Palm Beach Office MarketBeat Q3 2026.

Scope, stress and reversal limits. Gross full-service rents do not establish net-effective rents, cap rates or returns. The Coconut Grove double-minus absorption cell and malformed Class A construction token are excluded. Strong trophy leasing does not remove rent, tenant and supply risk. Apply the adverse cases above to each selected row. Upgrade only when actual lease cash flow, funded capital and source-consistent competing supply support the price. Downgrade when vacancy, concessions, tenant credit, capital needs or insurance costs break that case.

Industrial: Hialeah and occupied Broward lanes lead; Palm Beach delivery shocks require separation.

Chosen universe. Nine selected C&W Q3 detailed industrial rows from the separate county surveys: Hialeah, Pembroke/Miramar/Weston, North Central Dade, Airport North/Medley, Airport West, Riviera Beach, FTL-Central, Boca Raton and Boynton Beach. Provider region names, product mix and rent bases remain attached; county membership alone does not certify identical source coverage.

1. Hialeah (Miami-Dade) — Selective (conviction 3/5). Select Hialeah industrial with tenant and physical-fit proof. Hialeah precedes Pembroke/Miramar/Weston because vacancy is lower and both report zero construction; Pembroke has much deeper demand. Source support: Q3 vacancy 2.8%; construction zero. YTD absorption +15,738 SF. Counterevidence and scenario risk: Only 15,738 SF of YTD leasing in the source row. Low vacancy does not establish tenant depth or suitable specifications. Entry gate: Verify loading, power, tenant credit and rollover economics at the exact asset. Source: Cushman & Wakefield Miami Industrial MarketBeat Q3 2026.

2. Pembroke/Miramar/Weston (Broward) — Selective (conviction 3/5). Select occupied southwest Broward industrial with lease-level proof. Pembroke/Miramar/Weston precedes North Central Dade because vacancy is lower; North Central Dade has much deeper demand and also no construction. Source support: Q3 vacancy 5.1%; construction zero. YTD absorption +160,548 SF; Q3 +133,196 SF. Counterevidence and scenario risk: 357,503 SF of YTD leasing is not the same as new occupied space. Tenant rollover can require incentives and capital work. Entry gate: Verify tenant commitments and actual commencement; selected renewals are not net new demand. Source: Cushman & Wakefield Broward Industrial MarketBeat Q3 2026.

3. North Central Dade (Miami-Dade) — Selective (conviction 3/5). Select North Central Dade after checking the large move-in denominator. North Central Dade precedes Airport North/Medley because vacancy is lower and construction is zero; Medley has more leasing. Source support: Q3 vacancy 5.8%; construction zero. YTD absorption +1,275,451 SF. Counterevidence and scenario risk: One quarter can concentrate a few large move-ins. Source overall net asking rent $12.62/SF is not achieved NOI. Entry gate: Separate large tenant move-ins from demand for the subject building and verify lease credit. Source: Cushman & Wakefield Miami Industrial MarketBeat Q3 2026.

4. Airport North/Medley (Miami-Dade) — Selective (conviction 3/5). Select Medley industrial where lease economics survive new supply. Airport North/Medley precedes Airport West because its construction exposure is much smaller and net demand is larger; Airport West has lower vacancy. Source support: YTD absorption +346,943 SF. YTD leasing 1,475,866 SF shows demand depth. Counterevidence and scenario risk: Q3 vacancy 6.4%; 363,467 SF under construction. 197,643 SF completed YTD adds competing modern product. Entry gate: Test competing 363,467 SF underway and product-specific tenant requirements. Source: Cushman & Wakefield Miami Industrial MarketBeat Q3 2026.

5. Airport West (Miami-Dade) — Selective (conviction 3/5). Select Airport West occupied assets with a funded competition reserve. Airport West precedes Riviera Beach because leasing depth is much greater; Riviera has slightly lower vacancy and zero construction. Source support: Q3 vacancy 5.3%; YTD absorption +57,028 SF. YTD leasing 1,896,332 SF. Counterevidence and scenario risk: 1,540,624 SF under construction. Large leasing volume does not establish equally large net demand. Entry gate: Require tenant credit and reserve against 1,540,624 SF underway. Source: Cushman & Wakefield Miami Industrial MarketBeat Q3 2026.

6. Riviera Beach (Palm Beach) — Selective (conviction 3/5). Select Riviera Beach industrial after verifying tenant depth. Riviera Beach precedes FTL-Central because both quarterly and YTD absorption are positive; FTL-Central has lower vacancy but lost occupied space in Q3. Source support: Q3 vacancy 5.2%; construction zero. YTD absorption +11,925 SF; Q3 +9,697 SF. Counterevidence and scenario risk: Only 11,925 SF of YTD net demand. Low net demand leaves tenant concentration and rollover risk. Entry gate: Verify exact use, loading and tenant renewal economics at the actual property. Source: Cushman & Wakefield Palm Beach Industrial MarketBeat Q3 2026.

7. FTL-Central (Broward) — Selective (conviction 3/5). Select FTL-Central income after testing its quarterly tenant loss. FTL-Central precedes Boca Raton because YTD absorption is positive and leasing is deeper; Boca has lower vacancy and zero construction. Source support: Q3 vacancy 3.4%; YTD absorption +18,119 SF. YTD leasing 108,243 SF. Counterevidence and scenario risk: Q3 absorption -32,689 SF. 92,224 SF under construction can widen tenant choices. Entry gate: Check tenant replacement costs and 92,224 SF of new space underway. Source: Cushman & Wakefield Broward Industrial MarketBeat Q3 2026.

8. Boca Raton (Palm Beach) — Selective (conviction 3/5). Select Boca industrial only when the low-vacancy price remains sensible. Boca Raton precedes Boynton Beach because vacancy is far lower; both have zero active construction, but Boynton is digesting a large completed project. Source support: Q3 vacancy 2.2%; construction zero. No YTD construction completions reported. Counterevidence and scenario risk: YTD absorption -7,792 SF; Q3 -22,511 SF. Only 47,741 SF of YTD leasing limits proof of replacement demand. Entry gate: Verify renewal rents, tenant depth and current income before paying a scarcity premium. Source: Cushman & Wakefield Palm Beach Industrial MarketBeat Q3 2026.

9. Boynton Beach (Palm Beach) — Tactical (conviction 2/5). Keep Boynton industrial tactical while new delivery leases up. Boynton Beach stays last because vacancy is exceptionally high after a 519,991-SF delivery; positive absorption is meaningful counterevidence. Source support: YTD absorption +39,892 SF; Q3 +72,267 SF. Active construction reported zero. Counterevidence and scenario risk: Q3 vacancy 25.2%. 519,991 SF completed YTD creates significant lease-up exposure. Entry gate: Fund incentives and prolonged lease-up without assuming the new project is stabilized. Source: Cushman & Wakefield Palm Beach Industrial MarketBeat Q3 2026.

Scope, stress and reversal limits. The nine rows are selected lanes, not the complete tri-county table. Miami geographic absorption is YTD; quarterly values belong to the product grid. Selected renewal examples are not operating new leasing. Annual weighted net rents do not establish comparable net-effective cash flow. Apply the adverse cases above to each selected row. Upgrade only when actual lease cash flow, funded capital and source-consistent competing supply support the price. Downgrade when vacancy, concessions, tenant credit, capital needs or insurance costs break that case.

Retail: Sawgrass and existing South Dade retail lead; county rents and vacancy arithmetic need care.

Chosen universe. Ten selected C&W Q2 retail rows across the three county reports: Sawgrass Park, South Dade, West Palm Beach CBD, Hialeah, Hollywood, West Palm Beach, Northeast Dade, Pompano Beach, Boca Raton West and Miami Airport. Ranking uses qualified vacancy, net occupancy and supply direction; Miami full-service rents are not compared numerically with Broward/Palm Beach NNN rents.

1. Sawgrass Park (Broward) — Selective (conviction 3/5). Select Sawgrass Park retail with tenant-sales proof. Sawgrass Park precedes South Dade because reported vacancy is lower and construction is zero; South Dade has larger demand and scale. Source support: Q2 vacancy 1.6%; construction zero. YTD absorption +19,741 SF. Counterevidence and scenario risk: Only 4.69M SF in the provider survey. 0.0 new construction is not proof that every tenant is profitable. Entry gate: Verify tenant sales and replacement leasing costs before paying for low vacancy. Source: Cushman & Wakefield Broward Retail MarketBeat Q2 2026.

2. South Dade (Miami-Dade) — Selective (conviction 2/5). Select South Dade retail where collections support the rent trend. South Dade precedes West Palm Beach CBD because current demand is meaningful and the survey is much larger; the CBD has zero construction and a stronger YTD flow. Source support: Q2 reported vacancy 1.9%; YTD absorption +41,788 SF. Only 23,789 SF underway; asking rents +4.2% YoY. Counterevidence and scenario risk: Reported vacancy does not reconcile to vacant area/inventory. Tenant sales and actual collections remain property-level tests. Entry gate: Verify tenant economics and the source vacancy definition before relying on low vacancy. Source: Cushman & Wakefield Miami Retail MarketBeat Q2 2026.

3. West Palm Beach CBD (Palm Beach) — Selective (conviction 3/5). Select West Palm Beach CBD retail at supported tenant occupancy costs. West Palm Beach CBD precedes Hialeah because net absorption is positive and construction is zero; Hialeah reports lower vacancy and more inventory. Source support: Q2 vacancy 2.2%; construction zero. YTD absorption +47,493 SF; NNN rents +6.7% YoY. Counterevidence and scenario risk: Only 2.21M SF in the source survey. A premium basis can erase the operating advantage. Entry gate: Verify sales, parking and actual renewal rents rather than capitalizing a district premium. Source: Cushman & Wakefield Palm Beach Retail MarketBeat Q2 2026.

4. Hialeah (Miami-Dade) — Selective (conviction 2/5). Select Hialeah retail with a strict sales and vacancy-definition check. Hialeah precedes Hollywood because reported vacancy and future construction are lower; Hollywood has much stronger net absorption. Source support: Q2 reported vacancy 1.2%; only 7,021 SF underway. Asking rents rose 2.5% YoY. Counterevidence and scenario risk: YTD absorption -354 SF. Reported vacancy does not reconcile to vacant area/inventory. Entry gate: Resolve the vacancy denominator and verify tenant rent coverage before assigning a scarcity premium. Source: Cushman & Wakefield Miami Retail MarketBeat Q2 2026.

5. Hollywood (Broward) — Selective (conviction 3/5). Select Hollywood retail where new occupancy becomes collected income. Hollywood precedes West Palm Beach because construction is much lower; West Palm Beach has slightly lower vacancy and greater YTD absorption. Source support: YTD absorption +104,275 SF. Only 1,257 SF underway; Q2 vacancy 3.9%. Counterevidence and scenario risk: NNN asking rents rose only 0.8% YoY. Small rent growth leaves little protection against rising expenses. Entry gate: Validate tenant commencements, sales and recurring landlord costs. Source: Cushman & Wakefield Broward Retail MarketBeat Q2 2026.

6. West Palm Beach (Palm Beach) — Selective (conviction 3/5). Select West Palm Beach retail after pricing its actual trade area. West Palm Beach precedes Northeast Dade because demand is deeper; Northeast Dade reports lower vacancy and zero construction. Source support: Q2 vacancy 3.6%; YTD absorption +120,123 SF. NNN asking rents rose 6.2% YoY. Counterevidence and scenario risk: 52,210 SF under construction. Strong rent growth still needs sales and collection support. Entry gate: Check tenant sales and competition from 52,210 SF underway. Source: Cushman & Wakefield Palm Beach Retail MarketBeat Q2 2026.

7. Northeast Dade (Miami-Dade) — Selective (conviction 2/5). Select Northeast Dade retail only with verified vacancy and tenant economics. Northeast Dade precedes Pompano Beach because reported vacancy is lower and construction is zero; Pompano has deeper net absorption. Source support: YTD absorption +31,918 SF; construction zero. Asking rents rose 2.6% YoY. Counterevidence and scenario risk: Reported vacancy 2.7% differs from the vacant-area ratio. Source rent growth does not establish tenant sales or rent coverage. Entry gate: Verify the source vacancy denominator and actual tenant cash-flow coverage. Source: Cushman & Wakefield Miami Retail MarketBeat Q2 2026.

8. Pompano Beach (Broward) — Selective (conviction 3/5). Select Pompano retail after funding competing delivery. Pompano Beach precedes Boca Raton West because net absorption is positive; Boca has lower vacancy and a smaller pipeline. Source support: YTD absorption +41,547 SF. NNN asking rents rose 1.1% YoY. Counterevidence and scenario risk: Q2 vacancy 4.3%; 142,504 SF under construction. Low rent growth may not cover rising landlord expenses. Entry gate: Test 142,504 SF underway and tenant sales at the exact center. Source: Cushman & Wakefield Broward Retail MarketBeat Q2 2026.

9. Boca Raton West (Palm Beach) — Selective (conviction 3/5). Select west Boca retail only where price funds tenant churn. Boca Raton West precedes Miami Airport because vacancy and future supply are lower; both have negative YTD absorption. Source support: Q2 vacancy 2.2%; NNN asking rents +7.5% YoY. Only 36,960 SF under construction. Counterevidence and scenario risk: YTD absorption -13,124 SF. Rising asking rents do not establish occupied-space demand. Entry gate: Verify tenant renewal economics and actual rent capture before valuing 7.5% rent growth. Source: Cushman & Wakefield Palm Beach Retail MarketBeat Q2 2026.

10. Miami Airport (Miami-Dade) — Tactical (conviction 2/5). Keep Miami Airport retail tactical until its pipeline and tenant churn are priced. Miami Airport stays last because its 742,077-SF pipeline is the largest selected exposure and YTD net demand is negative. Source support: Q2 reported vacancy 2.7%; asking rents +3.0% YoY. 14.33M-SF source inventory supports a substantial tenant universe. Counterevidence and scenario risk: YTD absorption -37,977 SF; 742,077 SF underway. Reported vacancy does not reconcile to vacant area/inventory. Entry gate: Require a discount and funding for new competition, tenant turnover and source-definition uncertainty. Source: Cushman & Wakefield Miami Retail MarketBeat Q2 2026.

Scope, stress and reversal limits. Miami submarket vacancy percentages repeatedly differ from their printed vacant-area/inventory ratios. The total is source-reported, and no corrected submarket series is invented. This uncertainty limits Miami-row conviction to 2. Broward/Palm Beach annual NNN rents and Miami full-service rents cannot establish a common valuation multiple. Apply the adverse cases above to each selected row. Upgrade only when actual lease cash flow, funded capital and source-consistent competing supply support the price. Downgrade when vacancy, concessions, tenant credit, capital needs or insurance costs break that case.

Related Pages

• Analyses Hub
• Geographies Hub
• Sun Belt Geography Hub
• Miami Geography Hub
• Miami and South Florida
• Miami Industrial Market
• Miami Office Market
• Miami Multifamily Market
• Gallery at Lummus Parc
• Miami Retail and Consumer Market
• Miami Hospitality Market
• Doral and Airport West Industrial Corridor
• Brickell and Downtown Miami Office Core
• Edgewater and Wynwood Conversion Corridor
• Aventura and Biscayne Mixed-Use Node
• Fort Lauderdale and Broward Urban Core
• Pompano Beach and North Broward Industrial Corridor
• West Palm Beach and Palm Beach Wealth Corridor
• Office Conversion Mechanics and Economics 2026
• Office Conversion Underwriting and Comps 2026
• Urban-Core Demand Floors
• Wealth-Driven Demand Moats
• Industrial Logistics Underwriting
• Retail Investment Thesis 2026

Recent Broward and Palm Beach Multifamily Transactions

The September 2026 reported $154.5 million sale of Modera Academical Village I in Davie adds one new-build, 397-unit Broward transaction to the regional evidence set. At about $389,169 per unit, it is a single asset-level observation, not evidence of a countywide price level or trend. The school district's 2023/24 table lists all 397 units and forecasts 397 certificates of occupancy for 2024; it does not establish occupancy. A second phase of 396 apartments remains planned and is excluded from delivered supply. Town of Davie agendas list property-specific building cases through August 2026; the latest disposition remains unverified. See Source: Modera Academical Village I Sale, Davie 2026 and Modera Academical Village I.

The September 2026 Polo Lakes sale in Wellington contributes a second Palm Beach County apartment transaction: TA Realty's purchase of 366 units at a reported $105.4M–$105.5M (Bisnow, Connect CRE, and Commercial Observer respectively report $105.4M, $105.45M, and $105.5M), or roughly $288,000 per unit. The deed was not captured, and reporting conflicts on building area and site acreage, making a per-square-foot comparison inappropriate. Together with West Palm Beach's Portofino Place sale, these are distinct asset trades across different product, vintage, and submarket contexts; they do not form a countywide pricing trend. See Source: Polo Lakes Wellington Sale 2026 and Polo Lakes Apartments.

Class X by RIVANI adds an asset-level Miami Beach office signal: Berkadia reports $114.3M of refinancing at 83% leased after renovation. The property's 165,170-SF whole-building area and RIVANI's approximately 120,000-SF office figure describe different scopes. The site is City-owned under a ground lease, so the leasehold and remaining-term conditions matter to collateral analysis. A proposed 47,000-SF expansion and added lease options depend on the November 3, 2026 referendum and later construction milestones; do not count those rights as effective or delivered. See Class X by RIVANI and Source: RIVANI Class X Refinancing and Lease Amendment 2026.

Sundy Village in Delray Beach adds a Palm Beach County mixed-use refinancing at $223M in trade coverage and $223.5M in the arranger's closed-deal record. The development combines delivered office/retail with a planned DigitalBridge office phase and additional tenant-improvement capital. Reported 97% preleasing is not stabilized occupancy and its denominator is not stated. This is a campus-specific financing and preleasing signal, not a countywide office-market proxy. See Sundy Village and Source: Sundy Village Refinancing, Delray Beach 2026.

Florida Transactions: Occupancy, Sale and Portfolio Debt

The roundup separates Mitsubishi’s reported move into an Orlando office from a West Palm Beach industrial acquisition and a Georgia/Florida storage financing. A building’s area, a closed sale consideration and a loan principal describe different economic interests. Verify the workplace lease area and remaining obligations; underwrite the industrial asset from its rent roll; and assess each storage collateral item before treating reported leverage as asset value. Source: Connect Florida Workplace Sale and Storage Financing 2026.

The Vibe: Refinance and Tax Assumptions

The Little Havana report identifies a five-year fixed-rate CMBS refinance for a 194-unit property, with reported leased percentages. It supplies neither coupon nor coverage and does not establish an approved property tax reduction. Test cash flow with and without any claimed benefit, then verify the applicable law, unit restrictions and assessor treatment before including savings in base income. Source: Connect The Vibe Little Havana Refinancing 2026.

Fort Lauderdale: Submarket Evidence and Scope Conflicts

The October recap distinguishes Cypress Creek and Hollywood vacancy from June asking rents and a trailing-year sale-price average. It does not supply a date for the vacancy readings or a rent time/expense basis, so those gaps remain explicit. Its T3 area and delivery forecast also differ from the existing 180,000-SF/2027 project record. For a specific office acquisition, test lease-up and replacement cost at its actual basis; an average transaction price or reduced deliveries does not establish the subject’s achievable rent or value. Source: Connect Fort Lauderdale Office Report Scope 2026.

Brokerage Leadership and Property Demand

Reported October 13. CBRE's Kuhlman appointment and separate JLL recruitment show competition for advisory capabilities. Existing team headcounts are neither new jobs nor incremental office demand. A capability advantage remains a hypothesis until supported by client retention, completed mandates and comparable execution economics. Test the asset at its actual price, financing, lease rollover and investor horizon rather than capitalizing recruitment announcements. Source: CBRE Hires Related Ross Exec As New Miami, Fort Lauderdale Market Leader.

Sources

• Source: Cushman & Wakefield Broward Multifamily MarketBeat Q2 2026

• Source: Cushman & Wakefield Palm Beach Multifamily MarketBeat Q2 2026

• Source: Cushman & Wakefield Miami Multifamily MarketBeat Q2 2026

• Source: Cushman & Wakefield Miami Office MarketBeat Q3 2026

• Source: Cushman & Wakefield Palm Beach Office MarketBeat Q3 2026

• Source: Cushman & Wakefield Broward Office MarketBeat Q3 2026

• Source: Cushman & Wakefield Miami Industrial MarketBeat Q3 2026

• Source: Cushman & Wakefield Broward Industrial MarketBeat Q3 2026

• Source: Cushman & Wakefield Palm Beach Industrial MarketBeat Q3 2026

• Source: Cushman & Wakefield Broward Retail MarketBeat Q2 2026

• Source: Cushman & Wakefield Miami Retail MarketBeat Q2 2026

• Source: Cushman & Wakefield Palm Beach Retail MarketBeat Q2 2026

• Source: Federal Reserve FOMC Statement September 16 2026

• Source: U.S. Treasury Daily Par Yield Curve September 2026

• Source: Cushman & Wakefield Miami Industrial MarketBeat Q2 2026

• Source: REBusinessOnline and IPA The Monroe Hotel Recapitalization 2026

• Source: Kelly Tractor West Dade Headquarters Approval 2026

• Source: Portofino Place Sale, West Palm Beach 2026

• Source: Modera Academical Village I Sale, Davie 2026

• Source: Polo Lakes Wellington Sale 2026

• Source: RIVANI Class X Refinancing and Lease Amendment 2026

• Source: Sundy Village Refinancing, Delray Beach 2026

• Source: Commercial Observer Gallery at Lummus Parc $167M Financing 2026

• Source: Miami-Dade Resolution R-500-26 Gallery at Lummus Parc 2026

• Source: Florida Housing Gallery at Lummus Parc Credit Underwriting 2026

• Connect CRE and Walker & Dunlop Landmark South $238M Refinance 2026

• Source: Cushman & Wakefield Miami Multifamily MarketBeat Q1 2026

• Source: HUD Miami-Miami Beach-Kendall Comprehensive Housing Market Analysis 2026

• Source - U.S. Census ACS Greater Miami Demographic Backfill 2026

• Miami Market Intelligence 2025

• Miami and Atlanta Retail Market Intelligence Q4 2025

• Source - Greater Miami Broward Palm Beach Market Expansion 2026

• Source: Kurv Pays Nearly $220M for Pompano Beach Industrial Park

• Source: Dalfen Broward 419K SF Industrial Portfolio 2026

• Source: Kurv to Raze Doral Office Property, Warehouses on Way

• Source: Centtral Aventura — 145,000 SF Retail/Office Mixed-Use Breaking Ground on Biscayne Blvd

• Source: Valoro Obtains Discounted Miami Offices, Eyes Redevelopment

• Source: Related Ross Inks $157M Construction Loan for Shorecrest Condos, West Palm Beach

• Source: The Delmore Surfside No Buyers 2026

• Source: Miami Park West Development Site Marketed For $500M 2026

• Source: Tuttle Royale Bankruptcy Sale 2026

• Source: Cain Kushner Edgewater Apartment Partnership 2026

• Source: Little Haiti and Little River Development Displacement Pressure 2026

• Source: Bal Harbour Shops Live Local Project 2026

• Source: Goodtime Hotel Foreclosure 2026

• Source: HueHub Live Local Litigation 2026

• Source: Live Local Act Projects Struggle To Get Fannie, Freddie, HUD On Board

• Source: Aston Martin Residences Defect Lawsuit 2026

• Source: Mercedes-Benz Places Miami Lender Dispute 2026

• Source: Spirit Airlines' Shutdown Puts $250M Broward HQ In Limbo

• Source: Chetu Lists 189K SF Broward Office in Sunrise

• Source: Commercial Observer Reports Brasfield and Gorrie Weston Lease 2026

• Source: Maxim Capital South Florida Volatility Lending 2026

• Source: Related and BH Icon Beach $360M Construction Loan

• Source: Miami Property Tax Repeal Budget Risk 2026

• Source: Dubai Geopolitical Risk and Miami Branded Condos 2026

• Source: Cora Merrick Park Coral Gables Financing 2026

• Source: South Florida Top Deals - Palm Beach Estate 2026

• Source: Avison Young Q1 2026 U.S. Investment Sales Report

• Source: Avison Young South Florida Retail Market Report Q1 2026

• Source: Cushman & Wakefield Miami Retail MarketBeat Q1 2026

• Source: Cushman & Wakefield Palm Beach Retail MarketBeat Q1 2026

• Source: Matthews South Florida Retail Market Report Q2 2026

• Source: Avison Young Miami Industrial Market Report Q1 2026

• Source: JLL Miami Industrial Market Dynamics Q1 2026

• Source: JLL Miami Industrial Market Dynamics Q2 2026

• Source: Marcus & Millichap Miami-Dade Industrial Market Report 2Q 2026

• Source: Avison Young Miami Office Market Report Q1 2026

• Source: CBRE Miami Office Figures Q2 2026

• Source: Newmark Broward Real Estate Market Report Q1 2026

• Source: Cushman & Wakefield Broward Office MarketBeat Q2 2026

• Source: JLL Broward Industrial Market Dynamics Q1 2026

• Source: Marcus & Millichap Fort Lauderdale Industrial Market Report 2Q 2026

• Source: Cushman & Wakefield Broward Industrial MarketBeat Q2 2026

• Source: JLL Palm Beach Industrial Market Dynamics Q1 2026

• Source: CBRE South Florida 2026 U.S. Real Estate Market Outlook

• Source: Mohawk at Wynwood Groundbreaking and C-PACE Financing 2026

• Source: Prestige Reacquires Atlantica at Dania Beach in Deed-in-Lieu Transfer 2026

September 29 Transaction Roundup Coverage

The source-matched transaction pages keep different asset and consideration scopes separate. 1276 South Venetian Way House and 1266 South Venetian Way Lot share a reported combined price without an allocation between house and land. Atlantica at Dania Beach Reported 118-Unit Interest covers the reported reacquired interest, and 201 Ocean Terrace House covers a separate house. These sit alongside 110 Tower in the same September 29 report; they do not establish a regional pricing benchmark. See Source: The Real Deal Reports Mana's $89M 110 Tower Purchase.

2026-10-08 — Ocean One Boynton Beach

Ocean One Boynton Beach adds a dated asset observation. Publisher reports groundbreaking for 371 planned apartments with 25,500 SF retail. Up to $11.5M tax-increment funding over 14 years is an approved ceiling, not disbursed proceeds or current value. The 110 public parking spaces are a reported perpetual obligation; no achieved occupancy, legal fee ownership, completed parking or funded loan amount is established. Source: Source: Ocean One Boynton Beach 2026-10-08.

2026-06-25 — South Florida economic scenarios

Complete published episode notes actually read and faithful rendering inspected; no full transcript or audio review. South Florida market hypotheses: test local jobs, migration, financing, supply, office quality, retail availability, multifamily concessions and industrial rent pressure separately. Expected rate cuts are forecasts, not realized policy. Claimed strong fundamentals and investment opportunity require dated market and asset evidence; Live Local law, conversions and current numeric conditions are held. No native quantitative observation from these notes; no full spoken review.

Source: source-rss-5fda0208077ae0408c7b4e4b. These questions do not broaden publication eligibility of other material on this page.

2026-08-20 — South Florida June market and lending evidence

Complete published episode notes actually read and faithful rendering inspected; no full transcript or audio review. South Florida capital allocation hypotheses distinguish investment-sale activity from leasing, construction, effective rent, investor capital and asset quality. Flight to quality, Broward connectivity and Class B/C repositioning need local evidence, entry basis and executable work. Two linked MIAMI REALTORS public articles are separately retained as reproducible complete public text extractions; only directly stated article figures with provider, period and universe can support structured review. PDF charts, lease lists and project inventories lack complete visual review and remain excluded. National office asking rent conflicts between article and partially extracted PDF (33.6 versus 33.7) and is held. Notes do not establish full spoken review.

Source: source-rss-e804ea70b7079cdedae5d426. These questions do not broaden publication eligibility of other material on this page.

MIAMI REALTORS South Florida multifamily lending and rent cohorts

MIAMI REALTORS June 2026 office cohorts and reported delivery pipeline

Full BRiC source review as of October 11, 2026

The sponsor’s full September 11 release confirms continued office/technology operations and an unspecified long-term vision, with undisclosed Ares financing. Newmark arranged financing; the sponsor says no brokers participated in the sale. More than $10 billion planned county investment and the 71-acre Wellington project are wider platform plans, not campus value or expenditure. Historical April 2018 sponsor-reported 73% occupancy, 1.8 million SF and 125 acres retain their date and scope; they are not current measurements. Keep secondary $179 million purchase and $320 million later valuation distinct from unheld deeds and the undisclosed current acquisition price.

The exact-original April register was reviewed through all 13 pages. Page 4’s master plan (EMD-24-01/PZMP-2024-00004) covers existing 1,770,417 SF and 124.21 acres. Pages 6–7’s Sequence 3 (PZSPA-2025-00047) prints a December 23, 2026 filing date in an April 2026 snapshot; that date remains unresolved. Page 7’s Residences proposes 320 units with a four-story garage; page 8’s Apartments 1 proposes 380 units/439,511 SF. Both use SPA-25-13 but have different full identifiers, PZSPA-2025-00032 and 00033. Do not merge them by the short code. Retail Village East reports approximately 46,500 SF retail/restaurant and enclosed parking-structure space; West reports 39,906 SF retail and 39,743 SF restaurant plus separately described enclosed space. These dated requests show PZB not scheduled. They do not establish delivered supply or a programme adopted by the new owner. Page 9’s DRI amendment proposes removing 129.61 acres from a 217.84-acre DRI, leaving 88.23 acres; this is a different boundary from the 124-acre campus description. A recommended approval and council date do not prove final disposition. Separate citywide EMD rules and the city-owned Brightline referendum do not establish BRiC site approval or rejection.

The street-view image shows an entrance marked 5000 and landscaping. It supplies no dated occupancy, site boundaries or measured dimensions. Source-qualified contexts and bounded component keys remain pending reviewed receipts.

• Source: Related Ross BRiC Complete Current Article.
• Source: Related Ross BRiC Complete Acquisition Release.
• Source: Crocker Partners BRiC Complete Historical Acquisition Release.
• Source: Boca Raton April 2026 Projects Register Full BRiC Review.

Full South Florida deal-sheet and Rivani review, October 11, 2026

As of October 11, 2026, the full arranger release reports a $114.3 million BridgeInvest Credit Fund V LP refinance, 165,170 SF whole-property area, approximately $38 million completed transformation and 83% leased. These are arranger claims. Financing is not value or LTV, and leased share is not physical occupancy. Bisnow’s 119K-SF description and earlier $100 million renovation plan differ in scope or date; do not choose one verified NRA or audited cost. The $62.5 million 2024 acquisition concerns a city-ground-lease interest. The eight-name tenant roster supplies no individual contracts or areas except the separately filed Playboy commitment. Bar Shishi’s 2,000 SF and 12 seats describe hospitality amenity space, not office leased area.

The complete deal sheet also covers six separate transactions. Dalfen’s 7600 NW 26th Street acquisition is reported 89K SF with current price undisclosed; its 1.7M-SF/18-property portfolio is company scope. WareSpace’s 4900 NW 167th Street acquisition is reported $20 million and 99K SF; more than 125 bays are a future conversion. Redfearn’s 105–111 East Atlantic Avenue purchase is reported $38.2 million with $27.6 million debt, with distinct 1952/1971 buildings. Tony Hotel South Beach is reported 52 rooms and $16.5 million, separate from the buyers’ earlier $44 million Kimpton Angler’s deal and historical Tiffany basis. FHE Health’s 98K-SF, ten-building sale-leaseback has undisclosed price; $30.2 million is assumed/increased mortgage debt. Its reported 25-year lease and two five-year options have no exact commencement or rent. Promenade Shopping Plaza is reported $66.8 million, 215K SF and $35.8 million financing, with four buildings and distinct 1989/2025 vintages. These are secondary asset-specific reports, not reviewed deeds, metro transaction totals or implied cap rates.

All 35 original amendment pages were reviewed, including plans and renderings. City approval, signatures and a scheduled November 3 referendum do not establish effectiveness: section 3 requires execution, successful majority vote and certified results. The proposed approximately 47,000 SF includes at least 25,000 leasable SF; $50 million is a target, with a $25 million minimum subject to feasibility. Additional renewal options, annual ground-rent branches, percentage-rent increase and public benefits are conditional contract provisions. Permit, start and TCO/CO deadlines are conditions with delay provisions, not forecast delivery. The 2,837-SF covered patio is a printed concept component. Renderings are proposed design, not completed premises. The election listing’s 40-year option-period base rent of $247,733,206.12 and estimated percentage rent of $184,140,862.35, plus $13,261,308.15 estimated percentage-rent increase over a remaining 64 years, are stated long-horizon ballot amounts. They are not present values, current NOI or annual rents; the model is unheld.

The complete selected SEC narratives, Note 13 page 19 and MD&A page 37, state an August 11, 2025 triple-net lease with RK Rivani LLC for approximately 20,169 SF and 11 years. Playboy had not taken possession as of March 31, 2026. Payments were scheduled to begin in August 2026; no actual payment or current occupancy is established. Approximately $27.1 million is future undiscounted fixed noncancelable commitment, not a recognized present-value liability or annual rent. The street-address connection uses arranger and city evidence; it is not supplied by these SEC paragraphs. No unrelated financial table is allocated to the property.

Brasfield & Gorrie’s rounded 19K-SF report is reconciled to the existing 19,330-SF signed-lease record without a duplicate. Its Q2 2027 move remains planned. Source-qualified structured contexts and bounded identity/tenant evidence are under receipt review; no production apply.

• Source: Rivani Full South Florida Deal Sheet Current Review.
• Source: Rivani Complete Berkadia Financing Release.
• Source: Rivani Complete City Ground Lease Amendment.
• Source: Rivani City Election and Resolution Listing.
• Source: Playboy March 2026 Filed Rivani Lease Narratives.

Complete held source review, October 11, 2026

Complete held September 21, 2026 Bisnow article by Chloe Gallivan reports an indefinite stop at the planned Citadel Miami headquarters after the September 14 rig collapse. County Regulatory and Economic Resources spokesperson Tere Florin confirmed the order was issued by the Building and Environmental Permitting Division on the incident morning and required a contractor safety plan, review and approval before reopening. This is reported dated agency attribution, not a held order, current October status, submitted or approved plan, permanent cancellation or quantified delay. Miami Herald attribution identifies OSHA and the county Consumer and Neighborhood Protection unsafe-structures team investigation; cause, fault and duration were unknown. During deep soil mixing the rig reportedly fell onto Brickell Bay Drive, three cars and a Container Express box, trapping two workers. Four people, including the driver of a burning BMW, two workers and the operator, reportedly went to hospital with minor injuries; no injury severity or cause is independently medically or technically verified. Contractor Keller North America committed to investigation; Griffin spokesperson said no serious injuries, Citadel referred questions to Related and Related declined comment. Related is reported developer of a site Griffin bought for $360 million in 2022; the later more-than-$770 million four-year full-city-block assemblage is a different scope, not an additive price or current value. Planned broader project cost is $2.5 billion, distinct from sunk cost or valuation. Proposed office scope is 1.7 million SF at 1201 Brickell Bay Drive with about 560,000 SF combined for Citadel and Citadel Securities; individual entity allocation, executed contracts, delivery and physical occupancy are unheld. Prior year-end vertical-start intention is a forecast, not accomplished work. The assemblage includes reported buyout of all condos at 22-story Solaris, 1155 Brickell Bay Drive; observed/report-described fencing and access do not establish demolition or legal title. Wall Street Journal attribution adds a proposed 300-unit residential tower and parking garage, plus a possible hotel; none is delivered inventory or a firm hotel programme. WSJ attribution says injection wells were installed to divert stormwater to the aquifer but activation permits were still needed; this is source-qualified reporting, not held permit, approved drainage performance, groundwater/flood measurement or a technical causal finding. Native property, tenant, building and lease lookups found no Citadel/Solaris matches in the scoped Florida inventory. New bounded property identities and a joint, unallocated planned-workplace candidate can be reviewed without assigning 560,000 SF to either firm or treating an owner-user plan as an executed third-party lease. All two contiguous public authored panels and both original images were inspected. The site photo shows disturbed ground and equipment beside a tower; the City of Miami Fire Rescue-credited image shows fallen equipment across a road, fire/smoke and emergency vehicles. Images establish no cause, injury count, measured dimensions, legal fault, order approval or restart. The public held article ends at a free-account prompt; authenticated remainder and linked underlying primary documents were not acquired or claimed reviewed. Investor underwriting needs current permits and safety status, entry basis, objectives, horizon, risk tolerance and construction/finance/downside stress rather than a causal or valuation inference from this event.

• Source: Citadel Miami HQ Stop-Work Order After Rig Collapse 2026.

Complete held studio and official-source review, October 11, 2026

Complete held September 18, 2026 Bisnow article by Chloe Gallivan reports Napster, formerly Infinite Reality, exited the proposed Fort Lauderdale studio/headquarters campus in December 2025, according to South Florida Business Journal. It describes a June 2025 rebrand after a $207 million acquisition of the music service; company purchase consideration is not property value or studio funding. Napster did not comment. Original developer Fort Lauderdale Studio Initiative LLC, led by Michael Ullian, reportedly regained control of the proposed 61-acre project at 1400 NW 31st Avenue. The City deadline was reported as end of next year with progress-conditioned extensions; the exact amended agreement and unheld meeting brief are not reviewed, so December 31, 2027 is an earlier cited interpretation rather than held contractual terms. April 2022 unsolicited offer and September 2022 approval are historical milestones. The body reports $164 million budget versus rounded $160 million headline, proposed 2024 construction start, and $1 annual land rent for 50 years; these are dated proposals/secondary agreement descriptions, not current funded cost, construction progress or stabilized rent. A 2024 Infinite partnership and school/production concept are attributed to Miami Herald. Sterling Bay joined as co-developer in April 2025; more than 100,000 SF of office and more than 1,000 jobs at average six-figure salaries were intentions, not delivered space, jobs or exact wage measurement. Remaining proposed four soundstages, production offices, green room, talent holding and retail are reported without a replacement tenant. Unheld underlying reporting, executed contracts and exact environmental parcel geometry remain unresolved. Both contiguous public article panels and original Infinite Reality/Gensler rendering were reviewed. Illustrated branding, trucks, people, parked cars and stage numbering do not establish operating tenant, occupancy, delivery, demand, actual stage count, measured geometry or remediation. Public article ends with free-account prompt; no authenticated remainder was acquired. Keep full held secondary reporting separate from primary action pages, stale City marketing and environmental profile.

Complete held City of Fort Lauderdale Legistar file 26-0724, version 1, is a consent resolution created July 9, 2026, controlled by City Manager, sponsored through City Commission Regular Meeting and placed on September 15 agenda. Status is PASSED and single history action is ADOPTED / Pass on September 15, 2026. Its title approves termination of assignment of the comprehensive agreement between Fort Lauderdale Studio Initiative LLC and Infinite Reality Inc. for the movie studio complex, Commission District 3. Listed attachments are agenda memo, termination of assignment, resolution exhibit and Resolution No. 26-193. File number is not the resolution number. These are adopted action metadata; no attachment bytes, signatures, detailed termination conditions, title, operating tenant, construction restart or funding are inferred. Two complete panels were reviewed; loading widget and report/export controls add no evidence. Original held supplemental capture is associated with September 29 processing, but exact UTC and response headers are unavailable; preserve that custody limit.

Complete held City Legistar file 26-0820, version 1, is a consent resolution created August 14, 2026, controlled by City Manager, with September 15 agenda/final action and PASSED status. The single history row is ADOPTED / Pass by City Commission Regular Meeting September 15. Title approves the second amendment to the comprehensive agreement with Fort Lauderdale Studio Initiative LLC for the movie studio complex, Commission District 3. Listed attachments are agenda memo, proposed second amendment, resolution exhibit and Resolution No. 26-194; file 26-0820 is not the resolution number. The held action page establishes adoption, not complete amended terms, deadline, extension triggers, signed effectiveness, construction restart, environmental approvals or funding. Earlier review records an attachment 410 Gone and an unheld meeting brief; no fresh acquisition, full attachment review or exact contractual deadline is claimed. Two full panels were reviewed; loading controls/export furniture excluded. Exact held supplemental capture UTC and response headers are unavailable; September 29 processing association is kept without fabrication.

Complete held EPA Wingate Road Municipal Incinerator Dump cleanup profile describes Fort Lauderdale municipal incineration from 1954 to 1978 and National Priorities List placement in 1989 for contaminated soil, sediment and surface water. City is the potentially responsible party, with EPA and Florida Department of Environmental Protection oversight. The profile says contamination does not then threaten people living/working nearby and residences connect to public water supply; this is a held agency statement, not a current independent health assessment or clearance for the studio proposal. A 1996 Record of Decision included excavation, landfill disposal, cap and groundwater/surface-water/fish monitoring; 1997 remedy update changed cap material and required treatment or offsite disposal of dioxin-contaminated old-incinerator soil; 2000 update clarified remedy and cleanup/monitoring goals. In 2002 City excavated soil/sediment, capped a 40-acre portion, acquired/fenced adjacent properties and installed monitoring wells; it reported cleanup completed in 2002. Forty-acre cap is not the 61-acre studio parcel and no operable-unit overlap is measured. The profile's latest cited Five-Year Review is 2021 and remedy is described protective; that does not establish a newer review, current construction compatibility or unrestricted reuse. Required institutional controls restrict land and groundwater uses; the residential-zoning example is general explanatory language, not a verified studio-parcel zoning determination. Fish monitoring continues in Rock Pit Lake; owner is permitted to fill the lake and monitoring would discontinue if filled, not evidence that fill occurred. City funds continuing cleanup/monitoring/oversight under legal agreements. All three contiguous panels were reviewed; agency logo and navigation excluded. Underlying RODs, review, controls, samples, legal agreements, exact parcel geometry and current approvals unheld. Exact supplemental UTC/date of page update unknown; association with September 29 held review is preserved. Keep remedy protectiveness as counterevidence to broad unsafe-site inference while retaining compatibility, controls and execution diligence.

Complete held official Movie Studio Initiative project page reports City comprehensive-agreement approval for Fort Lauderdale Studio Initiative LLC to develop, construct, operate and maintain a proposed 61-acre educational/cultural movie, television and streaming complex at 1400 NW 31st Avenue, with multiple large soundstages, outdoor sets and trades education. It calls Infinite Reality principal tenant and investor and promises high-paying jobs and student opportunities without quantified realized employment. These paragraphs appear twice in the held page; duplication is not independent corroboration. Timeline marks unsolicited proposal April 2022, proceed-resolution June 2022 and comprehensive agreement September 2022 completed, and principal-tenant signing April 2024 as current stage. This tenant/status language predates and conflicts with later adopted September 2026 assignment termination and exit reporting; retain as dated historical promotional context, not current tenant demand, progress or operating use. Two complete panels and both distinct original rendering crops were reviewed. Bird's-eye numbered structures 01–10, lake, parking, trucks and neighboring houses are a concept and are not ten confirmed operating soundstages, measured flood/cleanup conditions, parking inventory or exact geometry; the later news report describes four proposed soundstages. Exact publication/update and held supplemental capture UTC are unknown. No current agreement exhibit, delivered area, jobs, replacement tenant, funding, environmental clearance or construction restart established. Preserve original bytes and source-specific historical and visual scope.

• Source: Fort Lauderdale Studio Project Returns to Original Developer After Napster Exit 2026.
• Source: Fort Lauderdale Studio Assignment Termination Adopted Action 2026.
• Source: Fort Lauderdale Studio Second Amendment Adopted Action 2026.
• Source: EPA Wingate Road Complete Held Cleanup Profile.
• Source: Fort Lauderdale Studio Historical Project Page Complete Review.

Complete held deal-sheet review, October 11, 2026

Complete September 28, 2026 Bisnow South Florida deal sheet, 6:43pm ET, reviewed through all four contiguous panels and both Google Maps exterior images. Lead: Vizzda-supplied record attribution says Moishe Mana paid $89 million for 110 Tower, seller Gem Realty Capital versus $112.9 million 2016 purchase; nominal difference is not net return. Two City National Bank of Florida loans total $66 million, executed loan documents unheld. 394,000-SF office scope, 30 stories, reported 1987 construction and 2015 renovation; up to 9,280 SF offered in Colliers listing is available space, not measured vacancy percentage. Older property-website attribution says 1988; keep year disagreement and separate exact/rounded office scope, not reconstruct total-property area. Mana's first Broward/Fort Lauderdale venture and more than 80 Downtown Miami buildings are dated reporting, not current independently verified portfolio. Original exterior image depicts tower and podium, not precise area, current ownership or available suites.

Sales: Tideline Palm Beach Ocean Resort and Spa, 2842 South Ocean Boulevard, 134 keys and about 99,000 SF, reportedly sold by Edward Leevan-managed entity tied to Jeff Greene to Fort Partners for $112.6 million recorded real estate consideration. Greene tells SFBJ $150 million full deal includes branding, fixtures/furniture; different interests/scopes, not competing identical real estate prices. $20 million renovation in 2023 at 1980-era resort is historical secondary claim. $108 million debt comprises $53 million assumed and $55 million new Madison Realty Capital financing; no rate, maturity, leverage or executed terms. Seller's visitor challenge and profit statement do not establish measured operating performance or investment return. Thor Equities/Joseph Sitt reportedly bought Two Town Center, 5355 Town Center Road Boca Raton, from CP Group affiliate for $62 million per Vizzda. Office 153,000 SF, 11 stories, 1986-era is distinct from 114,000-SF two-story garage; no combined office NRA. Up to 24,000 SF TCRE/LoopNet availability does not establish occupancy or broad market vacancy. Luxury retail/data center/life-sciences company strategy is not a lease at this asset.

Jet Engine Technology Corp reportedly acquired 112,000-SF Doral warehouse at 2100 NW 88th Court for $29.5 million, seller Century Properties 2100 Doral LLC/Ariel Chavez via appraiser attribution. Nearby company headquarters does not establish current occupying subsidiary or warehouse lease; ownership purchase can be an owner-user candidate only, with operation unknown. Transwestern Carlos Gaviria, Ben Eisenberg, Walter Byrd and Thomas Kresse represented buyer, Casal Group seller; adviser roles are not tenant leases. Elysee Investments reportedly bought Blue Lagoon Shoppes, 1101 NW 57th Avenue Miami, for $28 million from Keystone Holdings Group. Fully leased is announcement attribution, not independent physical occupancy. Named Starbucks, Chipotle, Panera Bread, Jersey Mike's, BankUnited and Panda Express are dated tenant candidates with unknown areas, suites, terms and legal franchise entities. Avison Young Michael Fay, John Crotty, David Duckworth and Brian de la Fe seller representatives and Borda Commercial Real Estate/Mario Borda buyer representative are broker roles, not occupants.

Stewards Inc formerly Favo Capital reportedly acquired membership interests in entities owning 214-unit Envy Pompano Beach, not necessarily a direct deed asset sale, for stated $90 million. Prior managers Invesca Michael/Bernard Hsiao do not establish later title. Reported rollover equity $42.7 million, 14 million restricted common shares at contractual $3 each, and $47.7 million LoanCore Capital Credit REIT property debt do not reconcile exactly: literal share multiplication yields $42 million and reported equity plus debt $90.4 million. Preserve reported rounding/term conflict without treating $3 as market price, verified cash consideration or adding interest exchange to asset transaction series. Nasdaq aspiration is not completed listing. Announcement occupancy 89%, 2020-era construction, 26-slip marina, 5,575 SF available retail and three-story community centre are dated source claims; no current operating metric or retail lease. Apartments.com studio-to-three-bedroom range 564–1,556 SF and $1,972–$4,414 monthly is listing attribution with effective rents, concessions, suite availability and lease dates unheld. Prior Hollywood $190 million stock/liability exchange is separate historical consideration, not identical cash sale basis. Google Maps photograph shows residential facade and elevated connection; not ownership, area, marina capacity or occupancy evidence.

This and that: Slate Property Group/Carlyle reportedly seek foreclosure of MG Developer Metro Parc South, planned ten-story 347 homes and ground-floor commercial at 965–997 East 24th Street plus 934/954 East 25th Street Hialeah. April 2025 $105 million construction-loan commitment is distinct from lenders' claimed $31.1 million balance including interest/default fees/charges. Reserve-deposit, 2025 property-tax and contractor-payment defaults plus more than $2 million lender contractor advances are complaint allegations, not adjudicated findings. Separate existing South Florida source identifies borrower Metro Parc Hialeah III LLC and says MG Developer and Alirio Torrealba were not named defendants; keep that distinction rather than treating article shorthand as verified case-party identity. Reported January 2025 demolition of three small apartment buildings, retail building and single-family home is dated reporting, not current build progress. Other lawsuits/guarantees concerning Alirio and Diego Torrealba require separate case evidence; no universal liability or outcome inferred. Financing: Adam America/JW Capital reportedly obtained $180 million Corebridge Institutional Investment loan for Terrazul Sweetwater across FIU, replacing construction debt and providing cash-out. 22 stories, 932 units, 15,000 SF retail rounded, 2024 completion and 98% announcement occupancy are source-qualified. Existing canonical evidence distinguishes 932 units and 1,201 beds, 15,442-SF retail and dated occupancy; preserve native property 136322 and no current occupancy override. Walker & Dunlop Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer and Michael Ianno are arrangers, not tenants. Lease section: BuddhaBerry reportedly opened third frozen-yogurt location, first outside Hamptons, at Related Ross CityPlace, 417 South Rosemary Avenue West Palm Beach. More than 100 toppings/product menu is concept description, not revenue or store size. Stephen Ross/Related Ross are developer roles. Opening announcement supports dated retail workplace candidate, not signed terms or current operation. Underlying deeds, agreements, releases, lender complaints and later outcomes unheld unless separately identified. Complete held public article reviewed; no authenticated remainder.

• Source: Bisnow South Florida Complete Deal Sheet September 28 2026.

Complete held September 14 deal-sheet review, October 11, 2026

Complete held September 14, 2026 South Florida deal sheet: all authored sections, three contiguous panels and both original Google Maps images reviewed. Closing Driftwood paragraph and source footer inspected; authenticated continuation unheld. Vizzda/property-record, release, Apartments.com, SFBJ and TRD attributions are secondary evidence; their underlying deeds, signed loans, rent rolls and legal occupancy records are not held.

Lead: Goldman Sachs-managed fund reportedly acquired 397-unit Modera Academical Village I from Mill Creek for $154.5M, rounded headline $154M and nearly $390K/unit. Arithmetic $154500000/397 is about $389169.27/unit, not an appraisal or net investment return. Reported eight stories, 689K SF, 3440 SW76 Terrace Davie and 2025 delivery are secondary construction facts; apartment one-to-three bedroom listing range 730–1490 SF is not entire property NRA. The 793-unit development comprises 397 first-phase homes and 396 planned additional homes; do not count the second phase as delivered. The held school table actually forecasts 397 COs in 2024, not 2025; this corrects the earlier canonical column error, without treating a 2023/24 school forecast as later occupancy evidence. August agenda establishes dated case listing, not current unsafe condition or hearing result.

Sales: Memorial Healthcare System reportedly purchased the 271K SF Venture Corporate Center in Hollywood for $69M from an entity tracing to Fox Ridge Capital/Jax Capital Investments. The three four-story buildings at 3440 Hollywood Boulevard and 200–300 South Park Road date to 1982/1984; no per-building area allocation or combined parcel verified. Jax's reported 2021 $50M basis is not net profit. CEO Shane Strum's SFBJ comments describe two floors already occupied and future expansion to all buildings; no named medical/professional firms, exact leased SF, delivery date or signed acquisition/lease instruments supplied.

Kerra affiliate reportedly bought 228-unit Aviara East Pompano at 1621 South Dixie Highway for $73M from an Aviara Properties-tracing entity and assumed $58M Ladder affiliate debt. Two eight-story buildings, one six-story building and clubhouse total 290K reported SF; unknown NRA and building allocations. C&W Roberto Pesant/Jose Mota/Wouter Lips arranged sale per SFBJ, not occupying tenants. Clarion affiliate reportedly acquired a 935-unit self-storage property from Compson-tracing entity for $20.9M, 122K SF/three stories at 1480 NW66 Avenue Plantation, delivered 2025 and Extra Space Storage-operated. Storage units are not homes, operator presence is a dated candidate without signed lease or current occupancy proof.

Galium's first Miami multifamily purchase is release-attributed Arbors Aventura, 156 apartments, three buildings constructed 1969. Seller entity managed by Corinthian's Denis Barreto reportedly paid $35.2M in 2022; TRD price $28.7M is not independently deed-confirmed or net return. Apartments.com 810–1310 SF apartments and asking rents starting $1760/month have unknown terms and are not effective achieved rents or property NRA. Newmark Tal Frydman represented both sale parties, not tenant. No exact address supplied by this article.

Promenade Shopping Plaza is reported at 9840 Highway A1A in Palm Beach Gardens: Nuveen to Mount Vernon $66.8M, 207K SF centre and 98% leased per announcement, not physical occupancy. Later held September 21 source reports 9930 Alt A1A, West Palm Beach and 215K SF; retain naming/address/area discrepancies rather than forced native match. Claimed largest northern Palm Beach grocery-anchored retail sale in over five years is announcement scope with unheld comparable universe. Publix's historical 42K SF/1989 store was demolished and replaced by a 55K SF store reported opened May2025; do not sum old and new areas or infer exact current lease. Sign photograph shows Publix, Subway, ACE Hardware, bealls, Goodwill and A1A Massage & Spa; image date unknown, branded signage does not prove today's tenant/legal operator, contracts or each area. JLL Danny Finkle/Jorge Portela/Kim Flores are sale brokers.

Financing: Lore JV Leste/Element/Opportunity reportedly obtained $58M SME Capital construction loan for 48-condo The Lincoln Coconut Grove, 30-month term plus two six-month extension options. Already-under-construction/Q3 2028 completion remains announcement/pipeline, not delivery or guaranteed exercised extensions. Forty percent sold is release attribution, not closed occupied condos or an integer unit conversion. One-to-four-bedroom range, rooftop pool/observation deck/yoga/sauna/steam/golf/coworking/media/dog amenities are proposed marketing. Berkadia Scott Wadler/Bobby Dockerty/Mitch Sinberg/Matt Robbins/Brad Williamson arranged debt, not tenants. No street address, rate or executed terms held.

Pinnacle at Cypress first-phase senior housing financing totals reported $40.2M, including $20M tax-exempt bond with Bank of America/JPMorgan lead financiers and FHFC/Broward funding; no per-lender allocation, interest rate or subsidy terms. 6520 North Andrews Avenue proposed 100 one-bedroom homes targeting 22/33/60% AMI and 6530 SF commercial, without tier counts or affordability covenant. Second-phase groundbreaking next spring is future expectation, no second-phase unit allocation or later milestone inferred.

People: Driftwood names David Resnick and promoted David Steiner co-CIOs; Resnick's about-ten-year 13th Floor history, over $850M projects and more-than7500-unit pipeline are biographical/firm scope rather than delivered portfolio. Steiner joined2020/co-founded credit platform. Andrew Dykeman SVP equity formerly Witkoff SVP acquisitions/capital markets; responsibilities and appointments are dated announcements, not current employment verification or property leases. Photographs show Modera exterior and Promenade sign, without proving areas, title, occupancy, unit count or current store operation.

• Source: Bisnow South Florida Complete Deal Sheet September 14 2026.

Promenade primary participant cross-check, October 11, 2026

JLL reports 207,877 SF and 22.81 acres for the named centre, with a 54,964-SF replacement Publix store opened May 2025 after demolition of the 42,450-SF predecessor. Store areas are not additive or exact executed lease areas. The release does not give a price, loan amount or numerical street address. Keep participant occupancy wording, roster and under-construction Goldfish separately from current leases; preserve differing dated address/area reports and the existing bounded property candidate without changing its fields.

• Source: JLL Promenade Shopping Plaza Complete Sale Review.

Complete reproduced source review, October 11, 2026

The full article preserves July construction versus Q 2 delivery scope, the unresolved 2590 county/regional rent conflict and the unnamed 80% renewal-loss anecdote. Concession timing and brokers are participant mechanisms; a forecast of easing concessions does not establish recovery. Existing four observations remain unchanged.

• Source: Bisnow Miami Renewal Retention Complete Article Review September 24 2026.

Complete reproduced source review, October 11, 2026

The proposed 400 K SF/350 M DaniaBeach program at 1805/1815 Griffin remains separate from 1855 Griffin DCOTA collateral and 45 M refinance. Rendering and financing role establish no approved start, signed tenants or closed budget. Personal-guarantee payment differs from unresolved 203.7 M claim and separateWestPalmBeachplan.

• Source: Bisnow Cohen Office Center of the Americas Complete Article Review September 9 2026.

Complete reproduced source review, October 11, 2026

Keep district and time denominators separate: two-year 20476/17727 declines differ from one-year 35000 combined. Browardsevenclosed/tenconsidered andMiamiDadenineclosurevotes/27 pausedreviews are separate stages. NorthFork/Seagull are proposals, PalmBeach reports no closures, and voucher/groundlease claims are qualified secondary context.

• Source: Bisnow South Florida School Reuse Complete Article Review September 29 2026.

Complete reproduced source review, October 11, 2026

The complete September 16 article preserves the proposed 60-story, 183-residence Bugatti program, including four penthouses, and a first-half-2027 sales target. The $50 million reported site purchase and prior $650 million/$1.5 billion proposals have separate scopes and dates. Its full branded-project tail retains source-specific programs and unresolved legal allegations; the Knight Frank 42/73 counts remain unreconciled rather than a summed current pipeline.

• Source: Bisnow Bugatti Miami Complete Article Review September 16 2026.

Complete reproduced source review, October 11, 2026

The complete September 14 incident report attributes four hospital transports in stable condition and two rescues to Miami Fire Rescue, without establishing cause, liability or delay. Its body/caption labels 1201/1221 Brickell Bay Drive remain unresolved within the proposed headquarters site. The $2.5 billion budget, more-than-one-million-SF program, separate more-than-$770 million land assembly and June year-end vertical-construction target retain their different scopes. The separately held September 21 stop-work follow-up remains dated evidence.

• Source: Bisnow Citadel Rig Complete Article Review September 14 2026.

Complete reproduced source review, October 11, 2026

The full article and all nine reporter-map records support a selected dated company-location universe, with eight additional workplace candidates and the already-reviewed D-Wave campus candidate kept separate. Blue Ops 11,400/11K-SF tokens and AMPERA city/combined-area scopes remain unresolved across the sources. Policy budgets, economic-impact measures, hiring, students and quoted political proximity remain attributed or forecast context rather than current office demand or causal alpha.

• Source: Bisnow Palm Beach Defense Complete Article and Map Review September 16 2026.