A scam in which cons call people asking to collect “debt” for the electric bill has moved Miami-Dade police and Florida Power & Light to issue a warning to the public.

Police say there’s been an increase in the scam calls. Similar cases were reported in 2012, said police spokesman Alvaro Zabaleta. “They’ll call you, they’ll identify themselves as FPL employees and try to collect outstanding debt,” Zabaleta said.

The fraudulent callers claim that the victim’s electrical service will be discontinued unless they purchase a prepaid card for amounts ranging from $150 to $500. The scammers then ask for the account and PINs from those cards.

But it’s not only homeowners falling prey to the swindlers. “Lately they’ve been targeting businesses,” Zabaleta said.

Police are reviewing evidence and talking to witnesses, Zabaleta said, but their main focus is to get the word out about the scam. “We want the community to know. Don’t provide any information,” Zabaleta said.

Utility scammers also are hitting Key West customers. Three Key West businesses have reported being targeted by a telephone scam and one, Blossom’s Grocery, is out $1,300.

Keys Energy Services, the Key West-based electric company, is warning customers of a so-called phone spoofing scam. Spokesman Julio Torrado said customers have received phone calls that show up on caller ID as coming from the power company’s main phone number.

“Customers then hear an automated voice alert … to an electrical emergency within their home and the need for a crew to be dispatched,” the utility said. The automated system attempts to capture personal information that can jeopardize the identity of the resident.

Torrado said the Blossom’s incident happened Feb. 15. Faced with what it believed to be a power cutoff threat, store management paid $1,300, although Torrado said he didn’t know with what or to whom.

Miami Subs and Blackfin, a Duval Street restaurant, were also targeted. Miami Subs employee Sean Wright reported the attempted con to Key West Police Officer Thad Calvert on Feb. 11.

Wright said a caller identifying himself as a Keys Energy employee asked for $3,000 to avoid a service interruption and wanted payment by way of six $500 gift cards. Still on the phone with the apparent scammer, Wright called Keys Energy and was alerted to the issue.

If customers are unsure of the authenticity of a call and need to verify its legitimacy, they should hang up and call Keys Energy at 295-1000.

Keys Energy provides service to around 29,000 customers south of the Seven Mile Bridge. It’s overseen by a five-member elected board created in 1965 by the state Legislature.

FPL also urges customers to call the police if they get a suspicious call. Customer can also call the number at the bottom of their FPL bill and report the call to either the Florida Department of Agriculture and Consumer Services (800-435-7352) or the Financial Fraud Enforcement Task Force (stopfraud.gov).

“FPL will never call and ask for credit card info or take prepaid cards as payment. Also, FPL will never ask for any personal information from you unless you initiate the contact,” said FPL spokeswoman Heather Kirkendall.

Customers wary of whether a call or visit is legitimate, should call the utility for verification.

For further information and safety tips visit www.FPL.com/protect.

 

Source: Miami Herald

 

The reduction and elimination of the tax on commercial leases continues to gain considerable support.

The Florida CCIM Chapter and active CCIMs , which represents more than 1,200 commercial real estate industry professionals, join the efforts of a number of industry groups and large associations including the 127,000 member Florida Realtors, the Miami Association of Realtors (more than 31,000 members), NAIOP, ICSC, and SIOR in support of the Governor’s 2014-2015 “It’s Your Money Tax Cut Budget,” which highlighted his commitment to eliminating $500 million in taxes and fees for the upcoming legislative session.

“The Florida CCIM Chapter is happy with Governor Scott’s initiative, as its members represent the leading commercial real estate brokers, lenders, developers and numerous other commercial real estate practitioners.  This proposed sales tax reduction will help to drive more companies to establish or expand their operations in Florida and promote community development and jobs,” commented Florida CCIM Chapter President Peter J. Barnett, CCIM.

Florida is the only state that imposes a state-wide sales tax on commercial leases.

A state tax of six percent (6%) is imposed on the total rent charged under the lease, however the Department of Revenue (DOR) has taken the position that any payment required to be paid as a condition of occupancy under a commercial lease is taxable as rent. This means that in addition to the base rent being taxed, “passed through expenses” including building insurance, common area maintenance, and ad valorem real estate taxes themselves are taxed (double taxed). In addition, individual counties and taxing authorities may impose additional taxes, such as Miami-Dade County, which charges one percent (1%) additional, for a total of seven percent (7%).

Florida Statute §212.031 addresses sales tax on leases and Florida’s DOR interprets the provisions in Fla Administrative Code Rule 12A-1.070.

It is argued that this additional tax places Florida at a competitive disadvantage when attracting new businesses to the state. Opponents contend that the tax forces landlords to charge more for rent than comparable facilities just across state lines. In addition, it increases their record keeping burdens as they become tax collectors for the state.

Governor Rick Scott announced on January 28th that his budget proposes reduction of the tax on commercial leases by one-half of a percentage point for a savings of approximately $104-million the first year. According to all research, the impact of this reduction would be $500-million gain in terms of jobs and economic activity.

Additionally, two bills filed for the 2014 Florida legislative session push for more and would begin a complete phase out of the tax.  SB 176 by Sen. Dorothy Hukill (R-Port Orange), Senate Finance and Tax Chairwoman, and HB 11 by Rep. Greg Steube (R-Bradenton) would lower the rate from 6 percent to 5 percent.

“With the support of the governor, these efforts are gaining considerable traction. Compelling cases have been made that the increased economic activity more than offsets the decreased collections,” said John Dohm, CCIM, SIOR, CFP. 

Dohm, a licensed real estate broker for more than 25 years, tirelessly analyses important issues affecting the commercial industry.

John currently serves on the board of the CCIM Miami District, is past president of the CCIM Broward Chapter and served for several years on the board of the Florida CCIM Chapter.

Dohm also served as President of the Realtors Commercial Alliance of MIAMI in 2012 and is one of fewer than 700 individuals in the world to hold both the CCIM and SIOR (Society of Industrial and Office Realtors) designations and the only one to have also been awarded the CFP (Certified Financial Planner) certification in addition to all major securities licenses.

# # #

A CCIM (Certified Commercial Investment Member) is a recognized expert in the commercial and investment real estate industry. The CCIM lapel pin is earned after successfully completing a designation process that ensures CCIMs are proficient not only in theory, but also in practice. This elite corps of CCIMs includes brokers, leasing professionals, investment counselors, asset managers, appraisers, corporate real estate executives, property managers, developers, institutional investors, commercial lenders, attorneys, bankers, and other allied professionals. The mission of the Florida CCIM Chapter is to provide the highest quality of marketing and networking opportunities, services, and education that will enhance our members’ ability to conduct business successfully. For more information, please visit http://flccim.com/ or contact Florida CCIM Chapter President Peter J. Barnett, CCIM at 813.351.2791.

Condos may get all the publicity, but industrial space in Miami is hot again, with developers competing for land and tenants.

More than 4 million square feet of space is in the development pipeline. And land prices are reaching record level, attracting as much as $1 million per acre. The investment industry now considers Miami a tier 1 city, which is attracting more institutional investors, Steve Medwin, managing director for Jones Lang LaSalle South Florida told WPC News. “REITs, the life insurance companies, private equity firms, all have raised tremendous amount of capital for real estate… they want to have a location here,” Mr. Medwin said.

Several catalysts are driving the market, including the Panama Canal expansion, which will bring Panamax-class container ships to Miami’s port in 2015, as well as the growth of the economy in Latin America.   Developers delivered almost 300,000 square feet of warehouse and distribution space in Miami during the third quarter. An additional 733,737 square feet is currently under construction, according to CBRE. Another 3.9 million square feet of space is in the development pipeline.

The largest delivery during the third quarter was Building 1 in South Florida Logistics Center, adding 171,545 square feet to the area known as Airport/Doral. The South Florida Logistics Center will eventually add 1.6 million square feet of industrial space across 200 acres next to Miami International Airport.

net-absorption-cbre-research-q3-2013The popularity for land in Doral has pushed up prices for competing investors.  “Prices went from a $1 million an acre [before the recession], down to about $400,000 an acre in the bottom of 2009 in Doral, and are now back to about $750,000 an acre — if you can find it,” Mr. Medwin said.   The year-to-date net absorption of 794,356 square feet at the end of the third quarter already surpassed the total absorption for 2012. Starboard Cruise Services signed the largest lease — 220,000 square feet at the future Flagler Station Building 34, according to CBRE.

The vacancy rate for Miami’s industrial market is down to 4.9 percent, dropping 40 basis points from the previous quarter, and down 120 points from last year. Average asking rates were up to $7.81 per square foot during the third quarter, which is $0.43 per square foot higher than last year, CBRE reports.

The recent development has led to a glut of product in certain areas, which is helping to keep down prices, Mr. Medwin says. “We are seeing is a lot of speculative construction by these big institutions who were able to buy land in the last couple of years and they are all delivering around the same time,” Mr. Medwin said. “There are a number of choices so rental rates are staying low there, they’re not shooting through the roof.”

under-construction-and-completions-cbre-research-q3-2013The demand for Miami’s industrial product should continue to increase, analysts say. “Several sizable investments sales, both institutional and private, are expected to close during Q4 2013, resulting in a boost in sales volume,” CBRE said in the report.

Although land is predominately scarce, the city still offers potential for developers and investors, analysts say.   “It’s a supply constrained market, so there’s not a lot of land around,” Mr. Medwin said. “But there’s enough to build another 10 million to 20 million square feet, which is 5 to 10 percent of the base we already have in Miami, over the next 3 to 5 or 10 years.”

 

Source: World Property Channel