Archive for August, 2008
South Florida cities rank high in foreclosure volume, commercial deals are hamstrung by the credit crunch, and property values are down 6 percent, said Matt Haggman, a real estate reporter at The Miami Herald, who keynoted Friday morning’s South Florida Property Opportunities Conference, presented by CPN. Nonetheless, Haggman remains optimistic about South Florida’s commercial real estate prospects.
Despite Time magazine’s recent headline that asked “Is Florida the Sunset State?” – an in-depth feature article that explored the worst real estate meltdown since the Great Depression – Haggman looks at the Tri-County area through the lens of transition.
South Florida, he said, is in an evolutionary period. The region is making strides to move from suburban bedroom communities to more livable, urban regions marked by walkable communities and mixed-use developments ala New York or Boston.
“The suburban model is terribly broken and unsustainable,” Haggman said. The latest boom delivered on the promise of high-density development, he noted, and embraced principles of urban revitalization that will bode well for South Florida’s future.
Click here to read the rest of this story on Commercial Property News.
August 17th, 2008
This month Microsoft 
issued 11 bulletins that address a record 26 vulnerabilities, 17 of them rated as critical. The 26 vulnerabilities are the most Microsoft has addressed since it had 25 in August 2006, which also had 17 rated as critical.The patch for the vulnerability in the Snapshot Viewer for Microsoft Access ActiveX control is important because shortly after the issue became public on July 7 there was evidence of it actively being exploited, according to Ben Greenbaum, senior research manager for Symantec security response.
“Since then, attackers have fine-tuned their exploits, resulting in even more widespread attacks,” Greenbaum said. “The Snapshot Viewer issue impacts any Internet Explorer 7 users that have the ActiveX control installed and any Internet Explorer 6 users regardless if they have the control installed or not. The nature of the control allows the attacker to install [malicious code] and exploit the vulnerability without any user interaction.”
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August 14th, 2008
Apple’s iPhone 3G reception issues could be more than a network problem — or even a firmware problem. The issue could run as deep as the hardware, which could cause the handset maker millions in product repairs or replacements.iPhone 3G users have been complaining about dropped calls, abrupt network switches, poor reception and service interruptions.
One financial analyst recalls similar complaints with 3G phones launched in Europe five years ago and speculates that the culprit could be the chipset inside the iPhone 3G. The new handset runs on an Infineon 3G chipset.
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August 13th, 2008
Parents are more concerned about their children’s exposure to video games than alcohol, violence and pornography, according to recent polls.Conducted by What They Play, a parent’s guide to video games, nearly 3,000 respondents in two separate polls concluded that drinking beer and watching pornography were less objectionable activities for children than playing certain video games. Further, viewing violence was more acceptable than seeing content involving sex and sexuality within games.
“These poll results demonstrate that parents are as apprehensive about their children’s media diets as they are about traditional social issues such as alcohol, drugs, violence and sex,” said John Davison, president of What They Like, the San Francisco company that runs What They Play. “When it comes to video games, parents should know that What They Play is a resource that helps demystify one of the most popular — and challenging — forms of entertainment their kids are into.”
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August 13th, 2008
Russia is not only attacking Georgia by land and by air, but hackers are attacking Georgia’s computer systems. Cyber attackers began launching virtual missiles at Georgian servers on Aug. 8.A group calling itself South Ossetia Hack Crew claimed responsibility for an attack that defaced the Web site of the Georgian Parliament. The group posted images that compare Adolf Hitler with Georgian President Mikheil Saakashvili. Saakashvili’s Web site also came under attack on Monday.
“We definitely see hactivism taking place from people who have a political ideology and jump on the bandwagon with bots to help promote their opinions and viewpoints, whether that be for war or against war or for or against certain countries,” said Ken Dunham, director of global response for iSIGHT Partners. (Hactivism is using digital tools for political ends.)
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August 13th, 2008
Downtown revitalization is a bona fide trend across the United States in cities large and small, and South Florida’s metro downtowns are in full revitalization swing.
But the strategies and the results in downtown Miami, Ft. Lauderdale and West Palm Beach are as different as the cities themselves.
“There are differences in the maturity of the commercial uses in the existing downtown markets and also in the public investments already made in the major cities in South Florida,” said Bernard Zyscovich, principal of Miami-based Zyscovich Architects, whose firm designed a Downtown Miami master growth plan that merged urbanism and architecture with economic and social schemes.
Downtown West Palm Beach has completed major roadway and landscape improvements. And for years the city has held regularly scheduled events that aim to woo people to the heart of Clematis Street and the waterfront.
Now, the city is working to adopt a new master plan and zoning regulations to boost its downtown. A new waterfront development and City Center projects are planned. More hotel development is in the works.
In less than two years, more than 30 new retailers have come to the Clematis District and 20 have set up shop in the CityPlace District.
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August 13th, 2008
The purchase earlier this week of the Las Olas Riverfront, an underused lifestyle property in Fort Lauderdale, by Cerberus Capital Management affiliate Madeleine L.L.C., has ignited speculation about the site’s future.
Cerberus filed an emergency motion late Monday in Broward County Circuit Court to postpone the auction so it could exercise its right to buy out the entire loan. The New York City-based firm agreed to purchase the loan for $21.8 million from ACF Riverfront, the senior lender that took over the debt on the property after foreclosing on Boca Developers.
Once upon a time, Boca Developers had ambitious plans to build an upscale condo, hotel and office tower to encourage a work-live-play lifestyle along the New River.
Since the Riverfront project flopped, Fort Lauderdale-based Stiles Development Group has expressed interest in the failing $55 million Las Olas Riverfront entertainment complex that sits on prime downtown land.
“Stiles would be the perfect developer for Las Olas Riverfront,” said Walter Duke, a principal of Clobus McLemore & Duke, a commercial real estate valuation and advisory services firm in Ft. Lauderdale. “If Stiles can work out an arrangement with the lender at the right price, this is a firm that could carefully develop what is the linchpin of the Riverwalk Linear Park downtown.”
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August 13th, 2008
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