Another show. Another home run.
My guests on the most recent Fried On Business shared some of the best in-depth business knowledge you will hear anywhere on the dial.
CCIM Voice – FIU Growth
It all started with Frank Lago, CCIM, a commercial Realtor with KW Commercial in Miami. He has a background in local government, planning specifically, but in 2012 decided to venture into the private sector.
Lago discovered that real estate has its own language. He took a few classes, but nothing really gave him the insight that he needed to be successful.
Then Paul White, director of the Commercial Division for KW Commercial, steered him toward the CCIM, and he fell in love with the program.
Earning the CCIM designation, Lago said, plugs him into a valuable network of commercial real estate professionals.
Lago is a hometown guy – born and raised in Miami. Yet, he said, he’s the only one among his family and friends who would even think of living downtown.
“I love everything that’s going on in Brickell. I really do. I love everything that’s going on in Wynwood and Downtown and Edgewater. But at the end of the day, we need to do projects of that caliber out west,” he said.
Sweetwater is a good example, he said. While working for the city, he embarked on a land use density change that allowed for high-density private college housing. Nearby, Florida International University was changing its focus from being a commuter school to offering on-campus housing.
Lago said he’s also very interested in the West Kendall market, which has an open application to incorporate and become a city.
“I think if they move away from some of these antiquated Miami-Dade zoning codes, and they’re able to do their own land use and comprehensive master plan, I think there would be some great possibilities for some great projects out west,” he said.
He also mentioned the West Miami and East Hialeah markets. Click here to listen to the full interview with Frank Lago, CCIM, of KW Commercial in Miami.
Go Green, Save Green
Next up was Don Weidenfeld, a longtime friend of the show and Managing Member at Magnum Energy Solutions.
Magnum is a pioneer in the development and deployment of innovative energy management solutions for both commercial and residential applications. Their wireless controls for HVAC and lighting systems can save property owners from 25% to 50% on their energy costs.
Basically, their products communicate with a central thermostat, which in turn communicates with occupancy sensors in the room. If no people are present in the room, the system automatically adjusts to conserve energy.
Everything is made in the USA, and some of the favorite products include wireless occupancy and window/door sensors.
The smart system is secured by 256-bit encryption, so it’s trusted by the FBI, IRS, U.S. Department of Energy, Wyndham Worldwide, Starwood, Blackstone, Hyatt, Hilton, Sheraton and more.
Weidenfeld said Magnum is rolling out a new smart thermostat that also functions as a wifi communications hub for security systems, delivery notification, and more.
Click here to listen to the full interview with Don Weidenfeld of Magnum Energy Solutions.
Florida Apartment Market Update
Last, but definitely not least, was Bob Thollander, Vice President of Development, Florida Region, for The Bainbridge Companies, LLC.
Bainbridge is managing more than 26,000 apartment units, has 4,000 units under construction and has another 5,000 units in the pipeline, he said.
The company is very bullish on Orlando and also has four projects under way in the Tampa/St. Pete area.
But, lately, Thollander has been scouring South Florida looking for development sites. Bainbridge has one project under construction in Coral Springs, but the company wants more.
I’ve known Thollander for more than 30 years. We both got our start analyzing real estate from both a quantitative and qualitative perspective. So when Bainbridge does a deal, you can be sure it’s been thoroughly vetted.
Thollander said Bainbridge typically likes garden-style apartments from four to eight stories, and the company has very strong equity partners who are encouraging the company to enter South Florida.
“Institutional investors, as well as the banks and the buyers, want to be in South Florida, particularly in Miami and Fort Lauderdale. That’s why I’m down here scouting sites as fast as I can,” he said.
Bob Thollander talked in some detail about how Bainbridge sees the Florida apartment markets. Click here to listen to the full interview.
