Month: June 2022

Top Chef’s All Star contestant– and Cohen Commercial client – Stephen Asprinio has opened AquaGrille, a high-end restaurant that prides itself on “world-class dining that embraces the local culture.” Located on the corner of U.S. Highway One and Donald Ross Road in Juno Beach, Asprinio cultivated a creative menu catering to the “elevated and exploratory palates” of the local Palm Beach County area. The restaurant has taken off since opening in early March, and the search for opening a twin restaurant has already begun with our Tenant Rep team members Chris Haass and Scott Witkowski at the helm of site selection.

Mr. Haass has been in the commercial real estate industry for more than 20 years and specializes in restaurant representation; Mr. Witkowski’s expertise lies in tenant representation for both national and local restaurants and retailers throughout the state of Florida.  Read more on AquaGrille’s success and “The Restaurant Whisperer” at https://www.palmbeachpost.com/story/entertainment/dining/2022/06/06/top-chef-contestant-stephen-aspirinio-changing-north-palm-beach-county-dining/9430228002/

A tenant rep broker is a person who advocates for the tenant. The representative is an expert in the current market and helps find locations and negotiate based on the tenants’ specific needs. This service is often a complimentary service for the tenant throughout the entire process. The expertise of the representative in each specific market proves to be highly beneficial to the clients.

Values of choosing a tenant rep:

1. Insight into current market trends
2. Saves the tenant time and money
3. Awareness of local municipal rules and regulations
4. Provides guidance regarding lease negotiations and executions
5. Support is available even after the transaction
6. Consultant on development strategy for a region

To learn more about tenant representation, click here.

Commercial real estate traditionally has provided a barrier against inflation. Investors who would normally invest in stocks are now investing in real estate to diversify their money. Here are seven trends driving commercial real estate this year:

1. Significant capital and available debt will contribute to another year of growth.
2. Secondary markets will outgrow the country’s major cities.
3. The housing hot streak will (most likely) continue.
4. Offices will change, but they won’t shutter.
5. Real estate will welcome more quants (quantitative firms) to the mix.
6. Proptechs (property technology) got popular. Time to consolidate.
7. Construction costs will rise, benefiting existing assets.

For more information regarding these trends, click here.