Episode 307: 03-12-15
Miami Commercial Real Estate Update
Michael T. Fay is a prominent commercial real estate rainmaker. As Principal and Managing Director of
Avison Young in Miami, he has an intricate role as a relationship-driver and decision-maker. Fay has over 31 years of commercial real estate experience. Over the course of his career, he has closed over $4.2 billion in transactions.
We will discuss current real estate market conditions for all product types in all submarkets in South Florida. This will be fun and fast paced – I guarantee it!
High Blood Pressure – A Silent Killer
We speak with Dr. Shirin Shafazand, director of the pulmonary hypertension clinics at University of Miami. Pulmonary Hypertension is a lesser known sudden and deadly heart condition that can go undetected for several years and can affect young women.
Pulmonary hypertension is essentially high blood pressure that occurs in the lungs and typically overwhelms or gradually shuts down the right side of the heart which prevents the flow of oxygen and blood to the rest of the body. Patients may experience shortness of breath, dizziness, fatigue that are often confused with other conditions. It’s triggered by a host of common ailments, and it’s not until symptoms are so severe that patients are even tested for it. Nonetheless, there’s no cure and it is life altering, especially for young women.
Many in the region are referred to UHealth because they have have a multidisciplinary team that devises the best treatment that helps save lives and helps restore quality of life. A few tests can diagnose the problem and prevent it from progressing.
Tune and protect yourself and the people you care about.
A Straight Shot of Jim
JIm discusses his thoughts behind his quote in Wednesday’s Wall Street Journal. Click here to read the article.
Episode 307: 03-12-15 (To download, right-click and select “Save Link As”.)
Intro: 880 AM, The Biz, South Florida only all business station welcomes you to Fried on Business? He grew up in South Florida, has been in business here since the early 1990s, and have closed $1 billion in deals. He’s seen it all. He always has an opinion and he’s always ready to share it. Informed, entertaining and connected he has his finger on the throttling pulse of South Florida’s business community. He’s Jim Fried exclusively on 880 AM, The Biz. To talk to Jim and his guest call 305-541-2350. That’s 305-541-2350.
Now, here’s your host, Jim Fried.
Jim Fried: All right, South Florida get ready we have a super, super show. We have the Miami Commercial Real Estate update with perhaps the most loquacious real estate guy in town other than me, Mike Fay. We are going to talk about the current real estate market conditions for the product types in all of South Florida. It’s going to be fun, fast, pace I guarantee it, and then we are going to have our special new health guest Dr. Shirin … oh my god, I’ve got to practice this a little bit before she comes on. She’s the director of the Pulmonary Hypertension Clinic at University of Miami and we are going to talk about high blood pressure, which is a killer but this type of blood pressure you don’t know until you are almost down with it.
You’ve got to stick with us, protect yourself, protect the people you care about and then in the last segment I’m going to talk about my thoughts behind my article that I was quoted in the Wall Street Journal this week. That’s right. This is really now the Wall Street Business Network and I was quoted this week in the journal about the big shopping center plan by out by North West estate. I’ll talk about that in the final segment but right now the market went down, market went up, dollar went down.
We’ll be back with Mike Fay. D, the show is yours.[COMMERCIAL BREAK].
Jim Fried: All right, everybody get ready. We’ve got Mike He’s the principal managing director in Miami for Avison Young. He’s the prominent commercial real estate rainmaker almost as much rain as me Mike.
Michael T. Fay: Listen, someone has got to make the rain but hey, put it in slickers, let’s go.
Jim Fried: All right, let’s go. No more introductions. He already introduced himself with that one. So stick around we are going to do a couple of segments. We are going to talk about the Miami real estate market. Mike, everybody talks residential, everybody talk condo. Let’s talk retail.
Michael T. Fay: Jim, I have an email. Let me get to this email first and I’ll get back to you.
Jim Fried: All right.
Michael T. Fay: Okay.
Jim Fried: I want to talk about retail, and hey, by the way, hi five to the people email people. We’ll be on break, and he’ll be able to do the emails after he’s done with his first segment. Mike, what about the retail market. What about the retail market? You know there’s not a lot of big box space left. It looks to me like the next real big retail play is underneath some of these buildings but the buildings aren’t built for retail. They are built for office and apartments. What’s going on with retail?
Michael T. Fay: I think you are going to see more deals coming down, more deals getting torn down, more properties getting torn down, and I think when you are limited with the Biscayne Bay to the one side of us, and you’ve got the Everglades it feels like we are island like New York City but at the end of the peninsula in South Florida so we are in a nice spot here.
Jim Fried: All right, you are telling me that you think the retail is going to be really a lot of focus of redevelopment then, that’s what you are thinking.
Michael T. Fay: Absolutely and I think that there’ll be repurposing of other properties up and down all the major corridors up and down in South Florida, and where they weren’t they’ll be, and I think that you’ll hey, what was going to fit there it wasn’t what was right but now it is. We are going to have a lot of building torn down and redone. I do think that there will be high-rises that will come back around, and you’ll see much more of a planning stage in those building to accommodate the larger retailers as opposed of just the afterthought of a condo building saying, “Let’s throw in retail that works from a financial standpoint,” but now you are going to see it fitting in.
Jim Fried: Great. You are going to tell me that we are finally going to get some functional retail on the ground level.
Michael T. Fay: I certainly hope so. We are starting to see a little more of that today.
Jim Fried: Another thing that you mentioned that I think didn’t come out too clearly. Somebody really has to be able to see the future to be in real estate today because especially down here in Miami things are moving and turning fast that it’s just getting out of hand. We all know that transportation is a problem. What do you think is going to happen with commercial real estate market as transportation becomes more difficult to go from sub-market to sub-market Mike?
Michael T. Fay: I think what’s going to happen is people are going to be living more and more within their doughnuts and that’s really where it’s going to be. You are going to start to see certain areas whether it’s an urbanization of certain quadrants, or actually other areas around Miami. You might have in the suburban area if you take a look at a couple of projects. Look at the difference between Brickell City Center and World Center. Those are two doughnuts that are going to be basically living areas but then crossing over with each other.
You also go up north and you’ll start to see stuff outside the Sawgrass Mall. They are talking about urbanization out in that area. You start to see these areas creeping up downtown day land just to add different factors up and down our whole, wonderful South Florida market.
Jim Fried: I completely with you. I describe it as the city-state creation here in South Florida where each little neighborhood is going to be its own city-state. It’ll be fully integrated with all the land uses, if you want to go to live in one, and work in another, you’re going to either have to leave at 6:30 in the morning or 10:00 in the morning to miss rush hour. We are getting more and more like Los Angeles every day.
Michael T. Fay: Absolutely but I have a quote from my father from many years ago. He always says, “Miami we are like living in an anthill going in and out of the same hole all the time.”
Jim Fried: Fair enough. Mike, you’ve left me speechless with that one Mr. Fay.
Michael T. Fay: Jim it takes a lot to get that one going sometimes.
Jim Fried: It does. We don’t talk a lot about industrial but I know that your office does a whole bunch of industrial. What’s going on in the industrial market and let’s break it into two. The industrial institutional market and the user-owner occupant market.
Michael T. Fay: Let’s talk about the institutional market first. The institutional is great. There’s a lot of money chasing a lot of deals. Miami is really on the map from so many different areas. Why is that? We’ve got the expansion of the port. We’ve got the Panama Canal. We have all the things coming in up this way. Outside of that, there are other areas with the opening of Cuba possibly coming up. We see a lot of different issues as well as logistics coming in. with the railroad, with all the things that are starting to come in with our air flights, air and sea it’s great.
Under the institutional side, money is chasing deals, and they are chasing yield, and they are trying to get in on the gain, and it’s hard at times to really make something happen that is one, supply is tough. It really is so you’ve got to build. It’s almost today, forget buying existing, you’ve got to build for it. I think that you are going to start seeing much more building of space.
Jim Fried: Yeah, I agree. Everybody comes to me. They go, “Find me a deal in Miami.” I go, “No, no.” “How do I do a deal in Miami?” I go, “You go to Broward.”
Michael T. Fay: You go Broward or go points north.
Jim Fried: Yeah. Yeah, no, Mike. We talked a little bit about the institutional market. I know you have a real big practice in the individual investors, small or tenant industrial market. What’s going on there because I’ve got to believe those people are running out of space?
Michael T. Fay: You take a look. If you are talking about an investor on the industrial side it is always a tough find also for that small band industrial building 50,000 square feet, 35,000 square feet or plus when you start getting into the institutional area it’s tough. It’s tough for those buyers to find deals but the private clients that own those are starting to experience nicer rent growth. They are starting to see their vacancies peel away if there are any, and then of course, the tenants themselves. The tenants are finding that their businesses are getting better and they are looking to increase their space.
What does that mean? They either have to move or they’ve got to turn around and try to fit with what they’ve got.
Jim Fried: I want to talk a little bit about a trend in real estate that I’ve been observing that you’ve been a part of for many years and that’s the combination of the new firms entering into the market. I know that you just went with Avison Young with many, many years with the other brand, and before that being unbranded. How important is the Avison Young brand to you and what do you expect it to do for you in the next few years?
Michael T. Fay: Avison Young has really been a great opportunity for us. What does it mean? They are the fastest growing commercial real estate firm in the global right now. Their growth has been unprecedented with any other commercial real estate firm. What does that mean for us? They have gone out and/or recruited top people in each market. They’ve gone middle tier brokers all the way up until the top tier brokers. While we might not have as many brokers that some of the other larger national firms claim, the ones we do have are top notch, and they are the real deal people.
For us, when we are sending out business across the country and we are working deals down here in South Florida and/or the state, and/or around the country regionally every single one of these people are great. What else do I like about? We are a principally led firm. Every single one of these people have got a pure investment in this company. Yes, there’s a lot of stuff going on. It’s different dealing with principals and partners when you work with different groups across the country partners count.
Jim Fried: It sure does, and it sounds to me like you guys are really trying to attract some of the real thought leaders, and I don’t think you need a huge team. I think you need the right team, and it sounds like they are really working hard to right size this opportunity for you. They are in every market in Florida or what’s going on with that?
Michael T. Fay: Pretty much every market except for Jacksonville right now and we are always looking. I think that at the same time the firm has got a great growth program across Europe, Latin America, and others as well as filling in a couple of smaller gaps across the country, which we are in the middle of. We just announced Minneapolis, and Indianapolis. We’ve got some great firms that came in there. Other than that, we are pretty much doing great.
Jim Fried: All right. That’s terrific and you kept the core of your team together, and you are adding some new people to build from within. I always thought that … I believe real estate is a mentorship business so it’s real important to have people that are involved day-to-day to be invested in your business. It sounds to me like you really have been set up for some good success. Let’s talk a little bit. We’ve only got a couple of minute in this segment left. I want to hit on something that won’t take too long.
Gosh, we talk forever. It all takes too long.
Michael T. Fay: I think we are the only two guys that talk as fast as anybody else. I actually had a guy tell me, “Hey, can you slow down for one second.”
Jim Fried: No, no.
Michael T. Fay: By the way, it was coming from a New Yorker. I think it is kind of funny. I thought I had to catch up to him but he was catching up to me.
Jim Fried: That’s what happens when you blend Café Cubano and Gatorade. Listen, let’s take a break now. We’ll take a little early break. We’ll have a little bit more for the next segment. Stick around. We are going to have a lot of fun talking commercial real estate here in South Florida with Mike Fay one of the top commercial real estate brokers, and business owners here in South Florida. We’ll back after THIS.[COMMERCIAL BREAK].
Jim Fried: All right, we are back with a second segment with Mike Fay. He’s a principal that means owner and managing director in Miami for Avison Young. He’s a big shot. He knows all the deals, and he’s my buddy and we are going to have a great time talking about real estate. Mike, we are now going to talk about …
Michael T. Fay: Jim, wait a second. Hold on, you know what, that song Good Vibrations, was that done for me?
Jim Fried: Yes, that was just for you Mike.
Michael T. Fay: Come on, a surfing wakeboarding guy like me. I’ve got to tell you the love you give to me on the show is just too much. Everybody that’s out in the audience right now. I’ve got to tell you it’s sitting here with Jim right now is no different than shooting the breeze with him and having lunch. It’s the same thing.
Jim Fried: It’s all I want to do, Mike. I want to have two guys having lunch, and everybody wants to listen in to two guys having lunch, and stick with us. I’ve got another cute song for you on the way out of this segment just for you. Yeah, surfer dude, island boy, next one will be island boy related. I’ll give you that tip.
Michael T. Fay: I thought it was island girl.
Jim Fried: No, island boy related. Island guy I don’t have Elton John on the loop today. Mike, let’s talk residential. Let’s talk rental residential first. What do you see going on in rental residential because I see that you can’t make the numbers work anyone?
Michael T. Fay: I don’t know about that. I think that everybody is running around this town looking for great sites, and they want to figure out how to make it work and again, the money is out there to make it work. The question is where, and how much, and the demand. When you are starting to look around in our areas, take a look at Coral Gables. Take a look at South Miami take a look at downtown Miami. The numbers are starting to work when you cannot afford to surf there and buy certain condos that are trading at $500 to $2,000 a square foot so it makes it affordable.
They are coming with unbelievable amenities that make you feel like you are living in a great place but you are renting. That’s how they are going to get the higher dollars. It’s a better amenities, make you feel like you are living in a really posh place.
Jim Fried: How condo? What do you think about condo?
Michael T. Fay: I love it personally. I think that’s the only way to really create this city, and I think it’s a great way that we’ve seen such unbelievable growth. If you look at this, I just was reading a couple of segments. Miami is the sixth wealthiest city now in the globe, and you look at some of the numbers. You have London, then you have New York, and then they’ve got several Singapore, and other areas, and Shanghai, and then there’s Miami. It’s unbelievable. The top 40 wealthiest cities in the globe, and here we are. If you think back 20 years ago …
Jim Fried: When we grew up and it was a redneck town?
Michael T. Fay: Yeah, you know exactly right. It was amazing. You had to beg institutional investors to even look at this town. Now they are clambering here.
Jim Fried: I just love it. I love it, all the new investors. All the guys that are at least our age that used to say no way, no way, no way. Come to Atlanta and meet me. Now they are on the Atlanta shuttle all the time. It’s really cool. We’ve talked about reach out. We’ve talked about condo. We’ve talked about residential. We’ve talked about industrial office. What’s up with office because I’ve got to think office is the next hot investment because office rates are going up, and people need alternative uses for some of these sites.
Michael T. Fay: That’s a really great point. If you start to look around in all the different markets, you know, office rental rates are going up. If you Dural, Coral Gables, Aventura, downtown Miami there are a lot of other sites available. I think there will be some other mixed juice and they will be an office consideration in a lot of these new developments deals. It’s hard to sometimes make those numbers work but again, when you are the only game in town you are going to have something. I don’t think we’ve had a new office building in a new office building built since maybe 1450 in 600 Brickell.
You start looking at some of the newer building that takes up for office space it’s really a neat situation. I think that there’s opportunity. Again, it will be more of a live, work, play. You’ll have much more amenities around you. Our office is in the Gables. I can walk out of our office, and have 30 restaurants within three blocks, and live a block away, and a hotel is behind you. Yeah, we’ve got two hotels within two blocks of us.
2020 Ponce is a great example where a new office is going to be, and when 2020 Ponce again you are still in the thick of it. You are within walking distance of anything. It’s a great situation.
Jim Fried: It goes right back to your thing about I don’t know if you called them doughnuts or whatever but people living in concentrated areas where there are diverse real estate opportunities and they don’t have to go out.
Michael T. Fay: No, where we live in Coral Gables, South Miami and we live in our whole doughnut. That’s where it is. We live within a three-mile radius and that’s what it is.
Jim Fried: Mike, I know you do a lot of work with high net worth investors. What are some of your high net worth customers telling you know as they look at the real estate market? What’s the high net worth investor’s view as they tell it to you?
Michael T. Fay: It’s a couple of different things. With the market doing as well as it, you have the stock market pulling at them. You also have all the money chasing different deals. They are looking how to deploy their capital in the best way. Real estate always offers a different use of the funds. It always offers different tax advantages, different growth advantages but again, you have management issues as opposed to being in an investment with one of the larger institutional firms that are managing your money.
For us, we are helping them trying to pick out what is best. Is it a good time to sell? Is it a time to reinvest? Is it a good time to do 1031 exchange? How are we building value for their properties and assets?
We look at it from a holistic standpoint, and then help them figure out what to do.
Jim Fried: It sounds like you have a whole team to that does this.
Michael T. Fay: We actually have a family office practice group. That family office practice group is really a great thing where we handle all the clients whether they are foreign family offices to groups that handle multiple family offices. It’s really a great situation. You do this to.
Jim Fried: Yeah, I do it. I do it but you are the first firm that I’ve spoken to that has this type of practice. I’ve been networking and doing business now in the family office world for a long time. I work for the Cat’s family. We call it my end properties, our vehicles that the Katz family. I’m the director of investments for that. Yeah, I’ve been heavily involved in delving deeper into the family office world. It’s really exciting and there aren’t a lot of good service providers, and it’s very okay purposefully so when people can get together and feel comfortable, and a nice, hot reference into the firm by a family it’s really great.
It sounds to me like you’ve got it working.
Michael T. Fay: Absolutely, and we’ve been working on this for the last two years, and I did a lot of study on it earlier on. You know what, it’s a definite needed area and there’s a lot of issues when people come into the country, and they want to look at what they are doing so it works for us.
Jim Fried: Okay, now talk about residential. Are you seeing much residential because really there isn’t any horizontal residential land left except in South Dade?
Michael T. Fay: Horizontal, yes, South Dade is really the spot where it’s going and I will tell you Homestead Florida City, those markets have picked up dramatically, and what we’ve seen in the last two years. There is. There’s stuff that’s coming up and down from Kendall Drive all the way south, and you’ve got pockets. Even Broward County you have pockets but the issue is you’ve got to find the right pocket. You’ve got to find the right demand. You’ve got to find the right segment of each one.
I don’t see a hit and miss because what people are building they are selling.
Jim Fried: Tell me a little bit. We’ve only got 3 minutes left. I’d like to use it to talk about your real estate business because I always describe myself as a real estate person. We do investing. We make loans. We are sort of like a private equity and then we also broker third party transactions. We’ve only got a couple of minutes left. Tell me a little bit about your practice, elevator speech and then how people find you.
Michael T. Fay: It’s very simple. It’s Michael.email@example.com. That’s pretty simple. Michael.firstname.lastname@example.org. You know Jim we are like a lot of other firms we just like to differentiate ourselves. We like to put our clients first. It allows us to do that and Avison Young has helped us achieve that. We don’t have to worry about running our business and doing other things. We get to physically go out and work on the clients so that’s a big thing.
We do office, industrial, retail, office, multi-family. We do hotel and we do a lot of large land tracks. We’ve done a lot of great deals all across the state of Florida as well as represented a lot of other corporate clients in private institutional groups. It goes across the gambit.
Jim Fried: Let me tell you what you guys bring to the table. What you guys bring to the table at least in your Miami office is high quality people that are trustworthy and extraordinarily knowledgeable and bring not financial capability but what I like to call real estate intellectual capital. You have the depth and breathe of real estate knowledge that really helps people execute their transactions Mike and I really want to thank you for coming on the show.
Michael T. Fay: Jim thanks and as that intellectual capital there with having great partners like Donna Abood, and John Crotty and those are really great folks, and again. We would not have been here without Pike Rowley doing a lot of work with us, getting us to Avison Young, and of course, all the partners across the country, having Mark Rose as our global CEO. Mark has done a great job on strategy as well as Earl Webb who has really helped for the whole being the president. So it’s great.
Jim Fried: It sounds like they are expanding. It sounds like they have a great team. We’ve got a minute here. I want to talk a little bit. We’ve only got a minute. I want to have people learn a little bit about you personally. What’s your most prominent charity that you work with Mike?
Michael T. Fay: We’ve worked with Informed Family for years. History Miami. We’ve done a lot of them. I’m on the Orange Bowl Committee so it’s a lot of fun working with all those, and again, we support many, many groups as a firm. We have probably a list of 30 different charities we support. It’s a great situation. We love to give back, community is huge.
Jim Fried: One last time Mike tell them how to get you on email and from the Jets fans out there tell your phone number but go real slow.
Michael T. Fay: Perfect. It’s Michael.email@example.com and my phone number is 305-446-0011. That’s the main office number. Anybody can reach me there and if you want my cell, I’ll even give you that.
Jim Fried: Do it!
Michael T. Fay: I am a 7-11. I am a convenience store for our clients 305-495-0003. How many people give you that? That’s because I’m on your show with you big Jim.
Jim Fried: You are the man Mike, and I can’t wait to have you back. This was great. We are going to have Mike back real soon. We are going to go to break. Then we are going to come back. We are going to talk about the silent killer high blood pressure, and a specific type of high blood pressure called pulmonary hypertension. That’s going to be our UL segment right after this. Stick with us, Mike Fay. High five to you bro, oh yeah.[COMMERCIAL]
Jim Fried: All right, we run long on the music there because me and Mike were doing the real estate high five, love guy, chest bump thing. Mike thanks again for coming in, good luck on your drive to where you are going. We know it’s a little nuts out there.[COMMERCIAL]
Jim Fried: Welcome back to the second half of the show. If you missed the first half it was all commercial real estate with my good buddy Mike Fay. It’ll be up on our website probably by Friday night or Saturday. You can get that at friedonbusiness.com. You can hear me and Mike Fay kick it around, and talk commercial real estate in South Florida. I had fun. I know Mike had fun. I hope guys had fun to.
UHealth, that’s the University of Miami Health System. They bring you the brightest minds, and best care right here in South Florida and in about a minute we are going to talk about high blood pressure caused by the pulmonary hyper tension. What brings UHealth to the table is that they are big. It has more 300 specialist doctors, dozens of locations from Miami to Palm Beach Gardens and of course, their office in Plantation.
What sets apart is the comprehensive approach they bring to health care. You might have several doctors for a couple of different health issues but you never talk to each other, or cross-reference your symptoms and medications to make sure your care is second to none. Hey, at UHealth they do. Modern collaborative care, UHealth is powered by the University of Miami’s Miller School of Medicine where research and clinical trials bring state of the art treatments to our community.
Seriously, these are some of the best-rated hospitals in the country. UHealth includes the Bascom Palmer Eye Institute ranked number one in the US News, ranked number one by US News and Rural report for 11 years in a row. It also includes the world-renowned Sylvester Comprehensive Cancer Care Center. If you want to see what health care is going to look like in the future just ask these folks these folks.
Discover how breakthrough medicine from UHealth can work for you call 305-243-4000 or visit Uhealthdiscovery.com to learn more today.[COMMERCIAL]
Jim Fried: I feel nice like sugar and spice, and I’m getting ready to talk about hypertension. We are here with Dr. Shirin Shafazand. Boy, I butchered that didn’t I doc? Hello doctor. Dee, where’s my doctor? She hangs up. All right, well hopefully she’ll call back. Anyway, what everybody needs to know is that high blood pressure is not just hypertension. That’s what they measure in doctors’ offices every time you have an appointment but this high blood pressure is really looking at how the left side of your heart works.
There’s another kind of high blood pressure that involves the right side of the heart and the lungs and that’s what we are going to be talking about today. This high blood pressure in the lungs is called pulmonary hypertension or PAH, pulmonary arterial hypertension. PAH is a chronic life changing disease that can lead to right heart failure if left untreated. Dee looks like he’s talking to the doctor. Was that doctor Dee? Is that the doctor now? Doctor, doctor are you there?
Dr. Shirin Shafazand: I’m here but you know what? Your connections are not correct. I’m get two or three different …
Jim Fried: Yeah, there is a bleed. You guys have to clean the line. I hear the bleed over too. Okay, that’s clean. I hear it clean now. How about you doc?
Dr. Shirin Shafazand: Perfect, that’s great.
Jim Fried: All right, I butchered your name so I’m going to try it again. I’ll butcher it again and then I’m going to apologize again. We are on with Dr. Shirin Shafazand.
Dr. Shirin Shafazand: Shafazand, very good.
Jim Fried: Awesome. I read what we are talking about but you are the expert. Help me out.
Dr. Shirin Shafazand: Sure.
Jim Fried: I get blood pressure taken all the time but my wife has kidney disease and so I know all about high blood pressure being a silent killer.
Dr. Shirin Shafazand: Yeah and this one is a different one because when we talk about the blood pressure that you get at your doctor’s office, we are looking at the left side of the heart but when we talk about pulmonary hypertension we are actually talking about the right side of the heart. The heart has four chambers and it’s two big pumps on the left side, and the right side, and the right side is responsible for getting all that blood from the body into the lungs trough the pulmonary arteries. And that’s where once it gets into the lungs the blood can pick up the oxygen that it needs to give us the oxygen that our muscles need to do everything that we do every day and to live.
When someone has pulmonary hypertension what’s happening is that pressures in those arteries on the right side of the heart are going up, are the reason the lungs are getting small, and narrow, and the pressure keeps on building up higher and higher and eventually the right heart says, you know what? I can’t pump through anymore, and then you are in trouble when that happens.
Jim Fried: Wow, you hear about these sudden things that happen out of nowhere. This isn’t something that happens out of nowhere but it appears sudden. What kind of symptoms does this have?
Dr. Shirin Shafazand: The symptoms are so subtle that sometimes people don’t even think about pulmonary hypertension. That’s why this is such great opportunity that you’ve given me to focus the awareness out there for everyone. Usually someone may say and in one form of pulmonary hypertension especially called pulmonary arterial hypertension where young women in their twenties, thirties, forties are more likely to get this condition the person says, you know what? I’m run down. I’m a little short of breath. I’m not walking as fast as I used or if they are athletes, I can’t run as fast as they used to.
You know people don’t even think about pulmonary hypertension because it’s so gradual in onset and the symptoms are so vague. When you say you are tired or you are a little bit short of breath, you can think of so many other reasons why …
Jim Fried: I’m getting old.
Dr. Shirin Shafazand: I’m getting old, yes. Especially if you are getting old, or if you put a little bit of weight on, extra weight. All of those make it difficult sometimes to make the diagnosis, and the doctors need to be aware that there is a possibility that this person has pulmonary hypertension.
Jim Fried: Now, who are the people that get this stuff?
Dr. Shirin Shafazand: There’s a lot of risk factors for it. In the pulmonary arterial hypertension category, you can have people who just get it out of the blue. Unfortunately, we don’t know why that happens, and then we have a previous history of diseases like Scleroderma, rheumatoid arthritis. These are called connective tissue diseases. In that sense, it’s the body attacking itself and it’s going to attack the lungs, the heart, the pulmonary arteries and all the other body parts.
Jim Fried: That’s like an autoimmunity thing.
Dr. Shirin Shafazand: Autoimmune, exactly and those people are at risk of getting pulmonary hypertension. Some people who heart disease for whatever reason. If they were born with a heart problem even though it may have been fixed, depending on when it got fixed the problem was repaired they may end up still having pulmonary hypertension. And then there are other categories where people have long-standing lung disease like Emphysema, COPD, and they just don’t have enough oxygen in their body to begin with because of the lung problem. Over time, it could damage the pulmonary arteries and cause pulmonary hypertension.
Jim Fried: Is this more going to be in women, men? Is it like race related?
Dr. Shirin Shafazand: In pulmonary arterial hypertension it’s a broad category where we are talking about the autoimmune diseases and the stuff that happens with us knowing why that tends to be more in women. In fact, about three or four times more common in women than it is in men, and it is bad because it happens in these women who are very young, to have young families often and so it’s slights them at very key time in their lives.
In other categories like the lung disease category or those people who get clots through their pulmonary arteries, and then later on develop pulmonary hypertension, that can happen to anyone.
Jim Fried: Wow, now how about pregnant. We only have about two or three minutes left. I want to make sure we hit the stuff you really want to get out there. Pregnant women are at risk for this but I want to get to something at the end because I’m kind of old. I’m fifty-something and I remember when one of my parent’s friend died because they took this drug combination to lose weight called Fen-Phen. What’s the story? Is that still out there?
Dr. Shirin Shafazand: No, they don’t have Fen-Phen fortunately anymore because of all the bad things that happened but in the eighties there was a big chunk of the population who took Fen-Phen and unfortunately, they ended up getting pulmonary hypertension, also some bowel problems with that and many other heart problems. Yes, Fen-Phen and nowadays unfortunately people who for whatever reason use methamphetamines they can die at risk of pulmonary hypertension as well.
Jim Fried: You’ve got to go through the med school library and tell them all that.
Dr. Shirin Shafazand: Absolutely.
Jim Fried: We’ve only got a couple of minutes left doc. Why don’t you tell people how they can get a hold of you because people are probably sitting there going, oh my god, I might have this.
Dr. Shirin Shafazand: Yeah, the one thing is I want to make sure is I don’t start a panic attack. There are many reasons for someone being short of breath obviously.
Jim Fried: Like a panic attack.
Dr. Shirin Shafazand: Exactly, they need to be addressed first but if all the reasons are listed and worked through and your doctor hasn’t come up with something then maybe there is pulmonary hypertension. That’s number one and then obviously to pay attention to your symptoms. If they are getting worse, you have to seek care. The University of Miami the good thing is we have a multidisciplinary team approach to this. I work very closely to cardiologists, with nurses, and with other pulmonologists to try and treat this condition. If they get in touch with me through the University of Miami, if they need my help I’ll be very happy to help them.
Jim Fried: They can just go to uhealth.com and look you up, and there you go.
Dr. Shirin Shafazand: There you go.
Jim Fried: This has really been really terrific. This silent killer stuff I’ve seen it in action in my own household. If you don’t recognize the signs, there’s big problems ahead. I want to thank you so much doctor for coming on the show. Doctor I’m going to give it one more shot. Dr. Shirin Shafazand.
Dr. Shirin Shafazand: Very good and thank you for the opportunity. I appreciate it.
Jim Fried: It’s our pleasure. Thank you to UHealth for bringing you to our show. We’ll be back after this. I’m going to talk about the background on my comments in the Wall Street Journal that were published this Wednesday. Stick with us. We’ll be back after this. Dee, take it away.[COMMERCIAL]
Jim Fried: All right. We are back. It is the final segment, and we are going to talk about North West Dade in general, and the new shopping center proposed by the Triple 5 Corporation that they are planning to build out there. Millions of square feet of alcohol, and entertainment and experiential retail. It’s not really something we have down here so really don’t think it’s going to directly compete with anybody. I think that there’s certainly room in our marketplace for that shopping center because for years and this is what my quote in the Wall Street Journal, “For years South Florida was under retailed. Only now are we getting to the point where there’s enough retail choices here in South Florida.”
As you heard Mike Fay say earlier on the show, we are going to start living in what he called “doughnuts”, what I call “urban cores and centers” and you’ll want to have it vertically integrated. Live, work and play there but when you leave that core, you are going to want a destination, and I think this mall is going to be one of the destinations that everybody is going to want to go once. When tourists come to town, they’ll get of a bus. They’ll go to the Aventura Mall, they’ll go to this mall, and they’ll Sawgrass. It’s going to be terrific.
You know, everybody says that all it’s going to do is bring low paying jobs. I focused on the word “jobs”. Listen not everybody’s got a Ph.D. in nuclear physics or law, or accounting. By the way, the people with degrees in law and accounting, they are going to get business out of this. You bring 26,000 jobs to a community it has what you call the economic multiplier effect. People will make bank deposits. They’ll buy things. They’ll make investments. They’ll send their kids to private school. They’ll send them to public school. They’ll pay taxes.
It is a boom and yeah, this is one of the last green spots in our trade area, well look if it’s planned, and it’s permanent and it can get through all the governmental approvals, and believe me it’s going to take a lot to do that, then heck. This is America. You build it the people will come, and is there retailer demand? They wouldn’t be planning this unless they had already talked to the retailers and knew that they could get enough retail tenants to capitalize the transaction, and what it’s also going to do. It’s going to be good for hotels. It’s going to extend the stay of visitors maybe by a half a day but it still it will create more overnight visitation.
It’s not the same goods and services that you see at Aventura and Sawgrass. It’s going to be different, and so that’s the background when I talked to the Wall Street Journal reporter about. It’s the whole story. It’s my perspective. I’m looking forward to it. I think it’s going to be a great deal for all of us in South Florida.
Now, I want to talk a little bit more about what I saw when I went to Lauren’s Kingdom, when I saw Lauren do her book reading at Books and Books. I gas it up. I talk a lot. I talk really hard and really fast but let me tell you what it’s all really about. It’s all really about kindness, sharing, goodness, positive energy. That’s why Kind Snacks is a sponsor of this show. They know the type of people that we are that listen that listen to the show, that participate in the show. I am telling you get this book.
Get this information to young people. I’m going to say it until I turn blue in the face. Ninety five percent of child sexual abuse can be prevented by education. I saw the beautiful, young children that were sitting in the front row, bright eyed, excited, participating, and interacting with Lauren. It was wonderful. I hope that every child, and I’m going to say it this way, in the world gets that kind of interface, and that kind of feedback, and that kind of true love and positive energy because they deserve it.
Unfortunately, there’s people that are unscrupulous out there that have their eye out for your child, or your friend’s child, and you’d better be careful. Look for the signs. If somebody is what we call … shoot. I’ll call it cultivating, grooming is what they call it. If somebody is favoring your child, taking them home after sporting events when the other kids bike home. Taking them out after school for dinner, having them over at their house, paying special attention. If they work for you.
For crying out loud, it was Lauren’s maid, their trusted in-house employee that abused her, this poor woman, and she’s a wonderful, beautiful person. Gosh, I hope she runs for president. I think she’d be the best. She’s got a little time to season but that’s my vote for president in 2024, you got it. Right that down. It’s on the record.
People you’ve got to protect your kids. I buy this time just like the guy says at the beginning of the show, and it’s important to me to get this message out to you. Our community needs more kindness. Heck, if you are down the road you just saw that. Please, get your kids to Laurenskids.org. Order the book. It’s on Amazon. It’s on all of them. In fact, they crushed the servers the other day with people ordering it. It’s going to be in the schools. It’s going to be part of our public education curriculum. It’s something everybody needs. Look for the signs. Tell your child if they feel funny in their tummy to go to their safe friend and ask for help.
You couldn’t provide a better service to our community. Our future is our children and we need you to be strong with them. Go to Laurenskids.org, get the book, join myself, my wife, Lauren book and the Miami Heat on the walk. We’ll be at the AAA about lunchtime on Friday. It’s my Facebook photo. It’s what I use on Twitter. You’ve got to do this. This is our future. The kids are beautiful. Don’t let somebody spoil them.
Oh gosh, I get that out Dee? Did I get what I needed to get out? God bless you Dee. I know you got a kid. I know you protect him. Every parent wants their kid to be protected, and we can’t be there all the time so you protect them with education about what to look for and what to do. Darn, I want to thank Lauren’s Kids for being a part of our show for so long.[COMMERCIAL]
Today, we had our special guest on about UHealth. We talked about hypertension. Hypertension is the silent killer. I know a number of people that have kidney disease that need transplants and dialysis because they have high blood pressure. Go to the doctor, get checked. If you are feeling funny make sure you get checked. We all have health care now. Go out and use it because nothing is a bigger drag on our community other than the sexual predators and somebody’s whose not taking advantage of staying healthy.[COMMERCIAL]
Join our community, give us comments and feedback, tell us who you want to hear from. Tweet @ me @jimfried. Tweet at the show on @friedonbusieness. I’m on Facebook. It’s starting to look pretty good. I’m on LinkedIn to, YouTube. Our website gets thousands of hits. Go there if you missed any of the shows www.friedonbusiness.com.
This Jim Fried for Fried on Business. Look for us at 880 AM, Thursday 6:00 to 7:00. It’s going to be a great show because I love doing this. Now, remember this is not a rehearsal. This is your life. A person that wants to do something finds a way. The other way finds an excuse. Now go out there and make it happen.