CBI News
Market intelligence from the brokers closing it — industrial, retail, multifamily, IOS, data centers, and land across Florida.
INDUSTRIAL
Three Brokers, One Impossible Spec Sheet: How CBI's Tenant Representation Team Found a 25,000 SF Warehouse That Barely Exists
MIAMI, FL — Most warehouse searches start with square footage and a budget. This one started with a parking count.
When an aviation company came to CBI Real Estate looking for roughly 25,000 square feet in Broward County, the requirement read like a riddle. The space had to convert to classrooms for 75 students — which meant 75 parking spaces, an office-grade parking ratio on industrial product that almost nobody builds. It needed restrooms sized for 80 people a day. It needed real loading doors, because aircraft engines would be delivered to the warehouse and rebuilt inside it as part of the mechanics training program. And the facility itself had to support the tenant's federal training approvals, which are tied to the site.
In other words: not a warehouse search. A needle hunt.
A team built for exactly this
CBI assigned the requirement to its tenant representation team — Victor M. Jaramillo, CEO & Principal Broker, Daniel Leconte, Vice President of Industrial Real Estate & Retail, and Luis F. Herrera, Vice President, Commercial Real Estate Associate. Tenant representation is where the three work as one unit: Victor runs the assignment and the client relationship, Daniel drives the industrial product and the landlord negotiations, and Luis works the market relationships that surface space before it is ever listed.
That division of labor is the point. A single broker works the listings everyone can see. A team works the whole market.
The process
The team's process ran the way CBI runs every tenant assignment:
First, the spec sheet. Before a single property was shown, the brokers converted the tenant's operation into a written requirement — square footage, parking count, restroom capacity, door configuration, a strict drive-time radius, and the approval constraints. Every property after that was measured against the sheet, not against a broker's opinion.
Second, the full-market sweep. The team canvassed listed product and off-market owners alike — buildings that were not advertised anywhere — because a spec this unusual rarely matches what happens to be on the market that month.
Third, tours and triage. Within days of the assignment, the tenant was walking finalist buildings, and the brokers were stress-testing each one against the hard numbers: where do 75 students park, where do the engines come in, what does the landlord allow. Two of the strongest buildings fell short on parking alone — so the team engineered overflow and shuttle solutions with the landlords instead of walking away.
Fourth, paper. Inside three weeks of the first call, a formal lease proposal was on the table with the lead landlord — on a requirement most brokers would have answered with three listings and an apology.
Your next lease, dry or cold
The aviation assignment is the extreme version of what CBI's tenant representation team does every week for ordinary requirements: define the spec, sweep the whole market — listed and off-market — negotiate the economics, and stay on the deal through build-out and move-in.
Whether your company needs dry warehouse space, office, retail, or cold storage, the process is the same, and the team is the same. If you're looking for your next lease in Florida, this is the call to make before you sign anything.
Now leasing: freezer warehouse — Palm Beach County
CBI is currently leasing private freezer and cooler units at its Palm Beach County cold-storage facility: 10 private units of 7,200 SF — 72,000 SF available — with the dry and cold capacity food, beverage, and pharmaceutical operators need, on flexible 3-to-5-year terms. Call us for more information.
Looking for your next lease? Call CBI Real Estate at 305-927-6377.
RETAIL
CBI REAL ESTATE — NEWS RELEASE
$1,983 a Foot: How Val Scancella Closed a Record Miami Beach Retail Sale
515 Jefferson Avenue closed at $8,400,000 — $1,983 per square foot, a record print for Miami Beach retail of its class.
By CBI Real Estate
MIAMI BEACH, FL — In Miami Beach retail, price per foot is the scoreboard. In the summer of 2024, CBI Real Estate's Valery "Val" Scancella put up a number the market is still measuring against: $1,983 per square foot.
The property was 515 Jefferson Avenue — 4,235 square feet of retail in the heart of Miami Beach, a few blocks from Lincoln Road. The seller, Raudel Mesa, gave the assignment to CBI. Scancella, CBI's Vice President, ran the sale with Principal Broker Victor M. Jaramillo: pricing strategy, the buyer process, the negotiation, and the closing table itself.
Four months after the assignment, it was done. On July 8, 2024, 515 Jefferson Avenue closed at $8,400,000 — the full $1,983 a foot, a record print for Miami Beach retail of its class.
$1,983 per square foot — a record print for Miami Beach retail of its class.
Why it printed
Small Miami Beach retail assets are scarce, tightly held, and usually traded quietly at whatever number the first caller offers. Scancella ran the opposite process. With a Wall Street background in brokerage and banking, he structured the sale the way an institution would: a real pricing thesis, a controlled process that put qualified buyers in competition, and a closing managed to the wire — literally. CBI's commission invoice, the closing statement, and the final wire all moved through Scancella's desk the week the deal funded.
The proof that it worked is what happened next: the buyers who competed for Jefferson Avenue stayed with CBI. When the owners of another prime Miami Beach retail asset asked who could get their price, the answer was the buyer bench from Scancella's process — ready for the next one.
The takeaway for owners
Record prices are not found. They are built — by pricing the asset correctly, creating competition instead of accepting the first quiet offer, and closing without a stumble. That is the process Val Scancella runs at CBI Real Estate, on a 4,235-square-foot Miami Beach storefront or a Florida portfolio.
Own retail in Miami Beach or anywhere in Florida? Call CBI Real Estate at 305-927-6377 — and ask what your property prints at when it's run properly.
Brief — Value-add retail is moving. Grocery-anchored and community retail centers across Florida are trading quietly, off-market, to buyers who can underwrite lease-up. In the last few weeks alone, CBI sent cash offers on a 126,882 SF grocery-anchored center and a 249,571 SF community center in Broward County. Owners who price off a real process — not the first quiet call — are the ones printing records.
About CBI Real Estate
CBI Real Estate is an institutional brokerage and advisory firm. We buy, sell, and lease off-market commercial real estate across Florida — industrial warehouses and logistics, grocery-anchored and community retail centers, multifamily, land and development sites, cold storage, and datacenter sites — direct and confidential. If you own one of these, or you want to buy or sell one before it reaches the market, call us: 305-927-6377 — victor@cbirefl.com — www.cbirefl.com
Media contact: Victor M. Jaramillo, CEO, CBI Real Estate — 305-927-6377 — victor@cbirefl.com — www.cbirefl.com
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MULTIFAMILY
Brief — Florida multifamily, 50 to 600 units. CBI's multifamily buyers are actively looking for communities of 50 to 600 units across Florida. The pattern we see every week: long-held communities with below-market rents trade best off-market, directly, before a listing ever hardens the seller's position. Whether the right exit is a single institutional sale or a unit-by-unit retail program, the first step is a real valuation conversation — not a broker opinion, a buyer-backed number.
IOS
Brief — Industrial outdoor storage is its own asset class now. IOS — truck parking, container and equipment storage, contractor yards — has graduated from afterthought to institutionally hunted product, and South Florida land constraints make entitled, usable yards scarce. CBI sources IOS acquisitions for private and institutional buyers across Florida and advises owners on what their yards actually trade for. If you own land working as storage, you own an asset class buyers are competing for.
DATA CENTERS
Brief — Powered land is the new Florida land rush. Data center development starts with one question: where is the power? CBI is sourcing powered-land and data center sites across South Florida for development groups who need capacity, substation proximity, and speed — off-market, direct, and confidential. Landowners sitting on parcels near transmission infrastructure may be holding the most valuable dirt in Florida and not know it. We do the homework; call us before you list it as ordinary land.
LAND
Brief — We sold the dirt the warehouses stand on. CBI sold our primary investor both of its Miami-area development sites — the Hialeah land, where it built a 171,178 SF Class A warehouse, and the Miami site, where it built a 142,000 SF Class A logistics center. Development land is a relationships business — and we're not done: our buyers are looking for industrial and commercial land across Florida, 3 to 100 acres, for industrial, retail, and data center development — off-market and direct.
Selling, buying, or leasing in Florida? Call CBI Real Estate at 305-927-6377.