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Fernando Arencibia, Jr. and Jennifer Wollmann
Welcome to Between Two Chairs: Demystifying Commercial Real Estate, the podcast that brings you the latest insights and trends from the Miami commercial real estate industry. Co-hosts Fernando Arencibia Jr. and Jennifer Wollmann, both former Chairman of the Board for the largest local real estate association in the Country, the Miami Association of Realtors, bring a wealth of experience and knowledge to every conversation.In each episode, we dive deep into the world of commercial real estate in Miami, speaking with market leaders, exploring the latest trends, and breaking down complex concepts to make them accessible for everyone.Whether you're a seasoned real estate professional, a curious investor, or just interested in the Miami market in general, Between Two Chairs is the podcast for you. So sit back, relax, and join us as we demystify the world of commercial real estate in Miami.
Tenant Improvements
Here's a riddle: Landlords aren't crazy about them and tenants always want them. What are they? I know the title of this episode gave it away, but the answer is tenant improvements, better known as TI. To give or not to give, that is the question. We take a dive into negotiating them on either side of the lease and give a perspective from both sides of the lease negotiation.
37:3514/11/2024
Time Kills Deals & Other Bairdisms: An Interview with Carson Baird
I met Carson online on LinkedIn. I had been following him for a while because he is a land broker in Fort Myers, Florida. I used to own investment property there and like to keep my pulse on that market. His down to earth style and his willingness to share his social media faux pas made me an insta-fan. One of them had me LOL and when I saw him at a conference, I went up to him and said, "Hi. Aren't you the guy that...." (you'll have to listen to learn the rest). We laughed and chatted for a while and now here he is, sharing his CRE experiences with you.
59:0207/11/2024
The Kindergarten Series - I Am Courage, A Book on Resilience
Gunnar Branson, with AFIRE, says we are addicted to fear and we know that fear is what sells, which is why news leads with what is scary. This simple children's book, I Am Courage by Susan Verde has great lessons for all of us on how to find courage to move forward in difficult times and markets and when there is uncertainty. Those of us in #cre need to be courageous every day.
31:3831/10/2024
Top Proptech for CRE
According to Global Market Insights, the Proptech Market was valued at USD 27.3 billion in 2023. It is easy to get overwhelmed with the amount of technology that is specifically targeted at the real estate industry so focus on the tech that you will use consistently to help you provide value to the consumer and make you more efficient. At the end of the day, no matter how much tech you use, real estate is a relationship and boots on the ground business. Nothing beats face to face meetings and talking to people in your market.
41:3524/10/2024
Real Estate Lessons From Legends: Timely Takeaways For Succeeding In Today's Market.
Highlights from the NAR C5+CCIM Conference in Miami.Tiffany Bova, Paco Underhill ,author of Why We Buy, Beth Azor,Bob Knakal, Spencer Levy, are just some of the amazing presenters that we highlight in this episode.
42:5017/10/2024
Anatomy Of A Deal - Industrial
In this episode we do a deep dive analysis of an industrial sale transaction from the beginning through closing. From the buyer's specifications to finding the property, going through due diligence, the hiccups that occured, how they were overcome, and how the property successfully closes.
34:2512/10/2024
5 Real Estate Myths Debunked
Ever heard any of these real estate myths?Buying, selling, leasing, owning, real estate is easy.You need a lot of money to invest in real estate.Technology is making real estate retail/office obsolete.You always make money in real estate.Easy and availability of data is going to make brokerage obsoleteWe debunk them in this episode.
34:1603/10/2024
Creating Value With CRAs: An Interview With Jorge Camejo, City of Hollywood, FL
To draw residents and jobs to an area, the area needs to be clean, safe, compelling and resilient. Jorge Camejo, Executive Directory of Hollywood's Community Redevelopment Area (CRA), joins us to discuss the two community redevelopment areas in Hollywood: The Downtown and The Beach Districts and the grant programs being offered to improve properties. Whether you are a broker or an investor, this episode will highlight the benefits of CRAs.
39:4426/09/2024
Get To Know Your EDO
The National Association of Realtors (NAR) has developed an Economic Development Toolkit to assist brokers when working with an Economic Development Organization. These organizations have incentives to help bring jobs to an area and are a great resource to learn what improvements are being done to incentivize builders.
28:1719/09/2024
Lonnie Hendry of Trepp Breaks Down CMBS and CLO
Lonnie Hendry, the Chief Product Officer at Trepp a #credata and analytics firm and the Co-Host of TreppWire Podcast. with a whopping 1.1 million listeners, joins us on this episode.Lonnie has an incredibly diverse background in commercial real estate and is extremely well versed on a variety of topics. His ability to break down complex data into an easy to understand format, allows us to dive into CMBS, CLO, and special servicing among other topics. His warm and charming personality make diving into data fun and interesting so if you like this episode and haven't followed Lonnie before, we know you will quickly become big fans .Trepp's Special Servicing Guide
58:0112/09/2024
Where Is The Growth Happening in Florida?
What do Karl Rove, David Plouffe, commercial real estate, conferences, advocacy, banks and ,the Realtors Land Institute have in common? They are touched upon in this episode and help give a long-term view of what is happening in Florida's commercial real estate market.
37:5605/09/2024
In CRE? Then You Need To Know Your Local Politics & Politicians
We have had several conversations recently that highlighted the importance of knowing what is going on politically in the communities where you live, work and invest in. In this episode, we give examples of policies that either promoted or discouraged investment in communities and touch on the impact that local politics
35:0629/08/2024
Facing the Sun: Sanguich de Miami's Danny Figueredo
Danny Figueredo and Rosa Romero built Sanguich de Miami from an idea into a growing sandwich restaurant, with a Michelin Bib Gourmand rating. Follow along as we hear how they did it, what they learned, and get insights on taking a concept from an idea to reality.
54:2922/08/2024
Landlord Tenant Rep Compensation Agreement
What are the nuances of a landlord tenant rep compensation agreement? This episode discusses some of the items that are covered in these agreements. Are commissions paid on gross aggregate rent or net rent? When are they paid? Tune in to answer these and other questions.
26:0315/08/2024
Energy Tax Credits: Increase Your Bottom Line & Make Your Real Estate More Sustainable
Michelle Sadeghy, Director of Energy Tax Credits & Incentives at Kaufman Rossin, a CPA and Advisory firm discusses how to increase your bottom line with the Energy Efficient Commercial Building Tax Deduction, also known as 179D.
26:0209/08/2024
Getting to Know Neighborhoods Through Food: Miami Spice Month Starts Today!
"Where New York has a sheer volume of restaurants and Los Angeles has a health-conscious flair, Miami has a standout personality of its own, one that has proven to be the most exciting of all. Miami is still considered a young city, which means it is continually evolving and pushing boundaries. The attention hasn’t gone unnoticed; the city is attracting everyone from the world’s most talented chefs to the up-and-coming stars. If Miami were part of a proverbial culinary family, it would be the ambitious younger sibling; already primed to outshine its predecessors thanks to its energy and momentum." Bon AppetiteThere is no better way to get to know Miami than through food! August and September are time for Miami Spice, so get out there and explore new restaurants and neighborhoods!
34:1201/08/2024
Contract Negotiations: How To Minimize Renegotiations Once The Contract Is Executed
There are 3 main timeframes in a contract where negotiation takes place:Negotiating the initial terms of the deal. Once buyer and seller agree, the contract is executed.Before the end of the due diligence period. Sometimes things come up during this time and buyer may feel like original price needs to be renegotiated based on findings.Before the end of the financing period. If the contract is dependent on financing and an appraisal, this is the third place where renegotiation may need to take place.In this episode we discuss items that can come up during these three crucial points and what you can do to set up the buyer and seller to address those issues ahead of time to increase the likelihood of getting to a closing.
39:3125/07/2024
Tapestry Segmentation: What Is It and Why Should I Use It?
We love to nerd out with the demographics of an area after we walk it. Who lives there, what do they do for a living, where do they spend their money, what do they do for fun? Doing a deep dive into a neighborhood with RPR and Esri's tapestry segmentation gives you a 3D picture of the community and helps to pinpoint the best locations for businesses and investors.
26:1318/07/2024
Michelle Gonzalez on Representing Brands You Love
If you want to specialize as a tenant rep or are a retail owner, canvas those small business brands that you know, love, and frequent. It is along the lines of Warren Buffet's invest in what you know philosophy and also makes it easier to do what you love. It is hard to sell something that you don't know or believe in. Pull up a chair and get insights in how Michelle Gonzalez tenant reps brands she likes to build relationships and business.
43:2811/07/2024
What Does Miami Spa Month Have To Do With CRE?
Nothing, we just wanted to go the spa.....just kidding! Of course it has to do with CRE. Whereas spas used to be mostly found in hotels, the focus on health and wellness has resulted in a proliferation of day and med spas into the retail sector over the last 5 years. From franchises like Massage Envy and Hand and Stone to facial and med spas like Sana and Proesens, these small businesses are current and expanding tenants. Tune in to learn about this special retail niche.
35:0204/07/2024
Real Estate Showdown: The Stark Differences Between Residential and Commercial Deals
Real estate showdown might seem a bit dramatic, but given all of the chatter about residential agents by commercial agents, we thought it was appropriate. A real estate license is a real estate license. There is no commercial real estate license or residential real estate license (much to the displeasure of commercial brokers). That being said, they are two completely different specialty areas with commercial real estate being far more nuanced than residential real estate. Tune in to find the similarities and vast differences between transacting in residential vs commercial real estate. Whether you are a residential agent or a commercial agent, remember that ALL real estate is based on relationships and local knowledge and we should be focusing on what is best for the consumer.
49:0427/06/2024
Personal Guaranty and Early Termination Clauses in Commercial Leasing
In this episode we discuss the personal guaranty and early termination clauses in commercial leases. A personal guaranty is fairly common in a lease as it ensures a landlord that a tenant has some skin in the game. What isn't as common is an early termination clause. What are some of the pitfalls, opportunities, and alternatives to these clauses? Tune in to find out and remember, terms are negotiable, some more than others.
32:2520/06/2024
New To CRE? Don't Know What You Are Doing? No One Talking To You? - Chepe Interview Offers Hope
Jose Maria Serrano is known to eveyone as Chepe. Chepe embodies entrepeneurship, collaboration and leadership. Learn more about his story getting started in commercial real estate and his leadership roles in a variety of associations. One of the great things about CRE is that there are so many different paths to success in this diverse industry. "We're here to make friends and through those friendships we make money". His daughter has not joined the business to expand their residential mortgage with Moto Mortgage NMR
51:2313/06/2024
Oh The Places You'll Go
We resume our kindergarten series with Dr. Seuss' Oh The Places You'll Go, which offers great lessons for anyone, but especially real estate brokers that are just starting out with commercial real estate. This is a great book for giving you a glimpse of the commercial real estate business, obstacles you will face, the mindset you will need, and how to overcome feeling uncomfortable.
31:5106/06/2024
Diving Into Summer and Local Commercial Real Estate Numbers with Gay Cororaton
In this episode we do a dive into local CRE numbers with economist Scholastica "Gay" Cororaton. Job growth, demographics and economics all affect CRE, but not the same way in all markets. This market is chugging along in spite of interest rates, but the high cost of borrowing is still putting a lot of pressure on owners and investors. Sale of core commercial assets went up eventhough overall sales fell. Tune in to see how both can be true and where opportunities are in this episode.
49:4930/05/2024
Walkability Scores: What They Reveal About A Neighborhood & Real Estate
May is National Walking Month, so we are ending the month with an episode on walkability. Miami has become a 15 minute city in the last couple of years, in large part thanks to the walkability of many of it's cities and neighborhoods. Density, amenities and ease of mobility are just some of the insights a walkability score can reveal. Pull up a chair and take a deeper dive into how to use this metric to find great walkable Miami neighborhoods.
28:0723/05/2024
CRE Appraisals Can Look Like a Monet or a Mess
It has been said that appraisals are an art not a science, but why? A lot of science (data) goes into an appraisal but so does the personal experience and opinions of the appraiser (the art). Commercial real estate appraisals are even more of an art because of the uniqueness of so many commercial properties.
34:0216/05/2024
Cap Rates: What Are They & What Do They Mean
People who buy and sell real estate almost always ask about the cap rates, but a lot of them also know that, contrary to what the mainstream public thinks, properties with low cap rates can often be excellent deals!
34:0609/05/2024
Formula 1 Speeds Into Miami Gardens This Weekend - Boosting Spending For CRE
I know we did interviews back to back, breaking from our regular formatting, but with Formula 1 speeding into town this weekend, we just had to interview the amazing Miami Gardens Councilwoman Linda Julien and talk about how Miami Gardens and Miami-Dade County worked together to bring this world class event to South Florida. The F1 Grand Prix boosted the local economy by $449 Million in 2023. Does this affect our #cre market? You bet!
38:4402/05/2024
Miamism, Mojitos, & Marketing: Ines Hegedus Garcia Dives Into Social Media Branding For CRE
With some notable exceptions, commercial real estate agents have been slower at jumping on social media than residential ones. That is a huge opportunity for cre agents to carve out an audience. Ines Hegedus Garcia was a very early adopter of social media and her Miamism brand has grown as a result of her work and authenticity. Join us as we dive into the do's and dont's of social media, great Instagram spots, and taking selfies in Miami.
01:04:2725/04/2024
Happy 1 Year Anniversary!
Woo hoo! Thank you for joining us on our anniversary episode as Fernando and I go through the highlights of some of our interviews. Thank you for joining us on this journey. We look forward to continuing to demystify commercial real estate and highlight the South Florida CRE market.
22:4918/04/2024
Nuances Of Transacting In CRE for Film, Television and Radio With Antonio Puente
Our guest this week is Antonio 'Tony' Puente, CCIM with Fairchild Partners. Tony has a lot of experience selling and leasing film, television, and radio studios, a hyperspecialized commercial real estate niche. He currently has Spanish Broadcasting System - HQ Building and MEGA TV - Broadcasting Center for sale at 7007 NW 77 Ave. In addition to having a cool address and being in the hot Airport West Market of Miami, this approximately 70,000 square foot studio is located on 5.37 acres.Tony takes a deep dive into the critera required for this niche market and shares insights on how to start and grow as a CRE professional.
47:3211/04/2024
Bad Boys 4 And So Much More: Miami's Film And Television Industry's Impact On CRE
The Miami International Film Festival starts tomorrow, April 5 and runs through Sunday, April 14. Local commercial venues benefit by filling up hotel rooms, restaurants, theaters, and other venues where films are screened, parties are thrown, and lectures are given. Well known movies and TV shows filmed in Miami, including Academy Award winning Moonlight. Film and TV studios lease and own a lot of commercial real estate! M3Studios: 122,000 square feet and Telemundo: 476,000 square feet.
29:1504/04/2024
Recap of the 2024 Women's Real Estate Investment Summit
We can't think of a better way to celebrate our 50th episode, small business month, and women's history month, than to summarize (and relive!) the Women's Real Estate Investment Summit.
32:3328/03/2024
Reda Monem, The Franchise Queen, on Working With Franchises
Renting a space for a franchise location? Buying a franchise business? Selling a franchise? During our interview with Reda, we go through her journey as a franchisee to a specialist in this field. She discusses the benefits of owning a franchise, working with franchisees, leasing to a franchisee as well as how to speed up the process of buying or selling an existing franchise.
42:2421/03/2024
Working With Small Business Tenants
Working with small businesses is one of the most satisfying aspects of real estate. Helping someone pursue the dream of entrepreneurship while at the same time bringing new companies into a community is incredibly rewarding, but can also prove to be challenging. To help minimize the challenges and maximize the potential of success, we dive into how to prepare a business for their real estate search.
28:5814/03/2024
Small Business Drives Commercial Real Estate As Well As The Economy
March is Small Business Month, so we are focusing on small businesses! How to start one, how to work with them, and how to sell them. Today's episode is an overview of the impact small businesses have on the economy as a whole as well as on the state and local level here in South Florida.
31:5307/03/2024
Multifamily - The Gateway to Real Estate Investing
As an asset class, multifamily is often called the gateway to real estate investing and commercial real estate brokerage because it is still residential in nature and most people understand the basics of residential living. Although duplex, triplex, and fourplex are the most common starting point for smaller investors, multifamily is usually considered anything that is 5 units or larger. In this episode, we interview Nate Korn, with IMAIM Capital, to get some insights into how this multifamily investor got started, what criteria he looks for, some of the challenges and advantages of multifamily, and some of his earlier mistakes as he was getting started.
01:03:1829/02/2024
South Beach Wine & Food Festival - The Ultimate Food & Beverage Event in South Florida
The South Beach Wine and Food Festival starts today, February 22 and runs through the Sunday, the 25th. Fernando and I are huge fans of everything food & beverage and this event shines a light on our South Florida culinary community. In addition to highlighting local chefs and trends, 100% of the proceeds go to FIU’s Chaplin School of Hospitality and Tourism. We are eternally grateful to the vision and grit that Lee Brian Schrager, senior vice president of communications and corporate social responsibility for the Southern Glazer's Wine & Spirit of America, had in creating and growing this event and partnering with the Food Network.
33:4022/02/2024
What Is A CAM Factor?
Common Area Maintenance includes shared spaces such as lobbies, stairwells, elevators, corridors and entranceways and the cost for maintaining all of these spaces are shared among all of the tenants/users of the building. The common area factor, also known as the loss factor or load factor, is calculated by dividing the rentable space by the useable space.
36:4215/02/2024
Super Bowl Sunday Is This Weekend - Who Wins? CRE!
The Super Bowl has a huge effect on commercial real estate in the host city as well as in the cities the two teams in the Super Bowl hail from. Hotels, restaurants, bars will all be offering fan events, hosting watch parties etc. For South Florida, President's Day weekend actually generates a larger economic impact on the region than hosting a Super Bowl does. We have the International Boat Show, The Coconut Grove Arts Festival and The South Beach Wine and Food Festival.
33:0708/02/2024
Did You Know? Little Nuances That Can Affect Your CRE in Florida
Did you know: If a property you are purchasing has ever had a FEMA claim payout you must carry flood insurance or you will be ineligible for FEMA funds?If someone gets injured on your property while committing a crime, you as the owner are liable for their injury?A sole member LLC formed in Florida doesn't have the same legal protections as a multiple member LLC?
32:1501/02/2024
Economic Development Partners - James Kohnstamm with the Beacon Council
Knowing your state and local economic development partners is important to know where real estate in your community is going. In this episode, get a glimpse of where Miami has been, how it got to where it is today, and where it is headed based on efforts by the Beacon Council, government officials, current residents and brokers are doing to bring people and jobs to Miami. We are so much more than beaches, sun and fun, those these things definitely help highlight why it is a great place to live, work and play.
54:1425/01/2024
Where Is Commercial Real Estate Headed in 2024?
Whatever your answer is, whatever black swan event may happen, regardless of who becomes president, Ryan Holiday's book, The Obstacle Is The Way, can get you in the right mindset to take advantage of any challenges that may came your way. "Great individuals, like great companies, find a way to transform weaknesses into strengths".
34:1618/01/2024
Are Obstacles Getting In The Way of Your Goals?
The Obstacle Is The Way, by Ryan Holiday helps remind us to put things into perspective and focus on what we can control. With all of the economic uncertainty, political noise, global unrest, etc. it is easy to lose focus and let headlines control or affect how we see things. Those of us who can remember that things and events are neither good nor bad they just are, can find opportunity when others are fretting, fearful or stuck on a narrative. Perception, Action and Will affects all outcomes.
36:4811/01/2024
Connecting the Dots
Our first episode on 2024! New year, new goals, new opportunities. To take advantage of all that this year has to offer you are going to need to connect the dots and make connections between the news, events, conversations and your local market to find the opportunities. The Miami Underline and Brightline are examples of literally connecting the dots, by connecting neighborhoods, but how did these two projects affect the real estate around them? What is going on in your area that could transform real estate in your area? Learn to connect the dots to help you see patterns before others do so you can see where real estate is going versus just seeing where it is now.
32:3904/01/2024
Reflections & Gratitude for 2023!
The last episode of the year! Time to reflect on lessons learned & set goals and intentions for next year. Key takeaways for the year were patience, the resiliency of the South Florida real estate market, focus on what you can do & tune out the noise, the power of perception, simplify, make sure your family gets best of you not what is left of you, and the rewards of teaching, whether through a podcast or in a classroom. Thank you all for joining us on this journey! We look forward to chatting with you in 2024.
33:1528/12/2023
Are Any Of These 10 Issues Affecting Your Real Estate Market?
Infrastructure, AI, pricing reset, affordability, logistics shift, housing and labor shortages, oh my! These are some of the issues we cover as we go over the Counselor of Real Estate's Top 10 Issues Affecting Real Estate in 2024.
43:0821/12/2023
The Fun Asset Class
Retail is where the fun happens! It is the epicenter of creativity where businesses get to directly engage one on one, in person, with their customer. What makes shopping centers an attractive investment? Tune in to this episode to get a general overview of this asset class.
43:1114/12/2023
Beth Azor Talks Small Business, Retail, Canvassing & Women Investing In Real Estate
She is a mother, teacher, coach, business owner, friend and canvassing queen. She freely shares information and encourages everyone to succeed. "I love helping independent retailers achieve their American dream. It is why I got into retail to begin with." The resilience, drive, ambition and creativity of Mom & Pops excites Beth and her excitement is contagious. We hope you enjoy listening to this episode as much as Fernando and I enjoyed speaking with Beth. Biggest takeaways: Canvassing works, don't ignore opportunity, and be addicted to learning.
42:2007/12/2023