It’s no secret that Miami’s — and all of Florida’s, for that matter — real estate market took a huge hit in the recession. But the area is now undergoing a revival of sorts, with prices going back up and investors swooping in to buy the vacant spots left around town.
Disputes between commercial landlords and tenants can become rancorous as they disagree over the other’s obligations. Both parties can often interpret the terms of the lease in diametrically opposed ways, leading to impasses that can ultimately harm everyone involved. When these gridlocks occur, an attorney may need to be brought in to mediate or even litigate if the case winds up in court.
Many Miami residents have probably had the same thought at some point over the last decade: "hey, what happened to that store on the corner?" In many cases, the answer likely is "the internet made it obsolete." Physical retail space is under attack by what some news outlets are dubbing the "Amazon Effect," which is the process of large-scale companies closing stores because the internet marketplace has turned such physical spaces into financial sinkholes.