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Year: <span>2020</span>
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EIG Aims To Convert Shuttered Ramada Inn In Hialeah To Apartments

Author: Admin
Categories: Commercial News,Development,Multifamily

The Estate Investments Group filed plans to convert a shuttered Ramada Inn in Hialeah, located at 1950 W. 49th St., into apartments, and construct a pair of commercial buildings.

The 4.9-acre site currently has a four-story, 258-room hotel that was built in 1970.

1950 Hialeah Holdings LLC, an affiliate of Miami-based EIG, acquired the property for $15.25 million in August. The hotel was closed at the time of the deal.

The developer is seeking a special use permit to convert the hotel building into apartments through adaptive reuse. It would have 251 apartments, with 90% studios ranging from 340 to 599 square feet, and the other 10% one-bedroom units starting at 600 square feet.

 

Source:  SFBJ

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Shopping Centers Stay Strong In South Florida. Miami-Dade County Has A 92.9 Occupancy

Author: Admin
Categories: Commercial News,Development,Retail,Shopping Centers,Trends

Density is helping sustain occupancy rates in Miami-Dade County’s shopping centers, making it the healthiest market in South Florida.

Miami-Dade has a 92.9% occupancy rate among its shopping centers, according to a third-quarter report by Boca Raton-based 11th St. Capital. Palm Beach has an 88.8% occupancy rate, and Broward has an 88.6% occupancy rate. Joshua Ladle, the CEO and founder of the real estate investment and management firm, visited all 1,720 shopping centers.

“The significant dense population in Miami-Dade is one of the main drivers to its success in terms of occupancy. Where there are concentrated amounts of people, retailers like to be there. More people coming to their stores means more dollars in their cash registers. Driving the nearly 700 centers in Miami-Dade County, it’s clear that there are still a lot of people shopping in all those stores, which is keeping the company lights on,” Ladle said by email.

Still, restaurant and store closures are inevitable and will impact commercial real estate, he said by email.

“More vacant space will come onto the market and will need to be backfilled. As always, premium, well-located space will be the quickest to be picked up by those tenants that are still expanding while the more challenging areas will struggle to fill the increased vacancy.”

Some new restaurants and retailers moving into recently vacant storefronts may help counteract the anticipated closings. Miami-Dade has 500,000 square feet of “Coming Soon” space while Broward has had a million during the third quarter, Ladle said by email.

“I believe that occupancy rates will still trend downward in Q1 2021, but only slightly because of all the ‘Coming Soon’ space,” he said. “Good case in point, Broward County, from Q1 2020 to Q3 2020 only fell from 89.1% to 88.6%, despite those 6 months being right in the thick of the pandemic.”

 

Source:  Miami Herald

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Luxury Miami Condo Association Sues Airbnb

Author: Admin
Categories: Commercial News,Multifamily,Trends

The condominium association of a luxury tower in Miami’s Edgewater neighborhood has filed a civil lawsuit against Airbnb, and several additional lawsuits against Airbnb hosts, over short-term rentals at the property.

Transient renters have led to problems including a shootout in an elevator and increased costs for security, maintenance and insurance, the condo association alleges.

“Airbnb has misappropriated the condominium property and turned it into its own de facto, unlicensed hotel,” according to the complaint, filed by Opera Tower Condominium Association Inc. in Miami-Dade Circuit Court Aug. 24.

Separately, Airbnb last week began cracking down on Florida properties used to host parties. More than 40 listings across 12 counties that received complaints or otherwise violated company policies were suspended from the platform.

The Opera Tower is a 665-unit condo that opened in 2008. While rentals are not expressly prohibited by condo rules, residents are supposed to be screened and registered by the association and present leases during that process. Additionally, short-term rentals in that part of Downtown Miami are prohibited by zoning laws.

The complaint alleges that about 450 units at Opera Tower are used by full-time residents while the others are used for short-term rentals. As those proliferated, common areas have gotten crowded and waits for the elevators in the 56-story building can stretch for 15 minutes. The property’s condo association hired a person to deal with related headaches and has had to spend an additional $200K on janitorial services, plus an annual $560K on security, it said in the complaint.

Over the past three years, there have been 397 9-1-1 calls, and alleged crimes by transient users have included robberies, assaults and at least one rape allegation. In June, two dueling gunmen shot up an elevator and third-floor lobby.

In 2018, the condo association’s insurance company dropped the policy because of the short-term rentals — a new policy with a different company cost $93K more, the complaint says. On Aug. 6, the city issued a cease-and-desist letter to the condo over short-term rentals and said it is subject to an ongoing investigation by code enforcement because it is not zoned for lodging.

“Quite brazenly, Aibnb makes no effort to either verify the legality of accommodations or even to remove listings once it has been informed that its listings may be illegal,” attorneys for the association wrote in the complaint. “Airbnb’s business model calls for it to continue riding the gravy train of booking fees from illegal listings and dare affected property owners to sue it.”

The lawsuit accuses Airbnb of aiding and abetting breaches of the condo declaration, aiding and abetting trespass and violating Florida’s Unfair and Deceptive Trade Practices Act. The condo association filed separate lawsuits against Airbnb hosts in Opera Tower including Happy Travels Miami LLC and Suarez Group Hotels Corp.

Separately, on Aug. 20, as COVID-19 continued to spread throughout the world, Airbnb announced a global ban on all parties and events at Airbnb listings and a cap on occupancy at 16. The party ban remains in effect until further notice. Airbnb has also restricted rentals for people younger than 25 — they can’t rent near where they live unless they have at least three positive reviews.

The city’s investigation of Opera Tower and the subsequent lawsuits come after a Miami TV station, WSVN, this summer explored how “pandemic parties” were proliferating in South Florida as bars and restaurants closed and nightlife moved to private parties. It quoted Opera Tower residents saying that they felt unsafe there, and found that pornography was filmed on one of the condo’s balconies.

Airbnb Manager of Public Policy in Florida Viviana Jordan said in a statement that the company supports local officials stopping irresponsible behavior at host properties and that the company has set up a hotline to field complaints.

Airbnb said in a statement that only a “small minority” of hosts would be affected by its Florida crackdown and that these hosts had previously received warnings.

“The vast majority of hosts in Florida contribute positively to their neighborhoods and economy, and they also take important steps to prevent unauthorized parties — like establishing clear house rules, quiet hours, and communicating in advance with their guests,” Jordan said.

Airbnb’s Florida crackdown affected properties Alachua, Broward, Duval, Lake, Lee, Manatee, Miami-Dade, Okaloosa, Orange, Palm Beach, St. Johns and Walton counties. The company has previously led crackdowns in specific geographic areas. In August, it removed 50 listings in Los Angeles County and another 50 in Arizona.

Aibnb has reportedly lost $1B since the COVID-19 pandemic began. Nevertheless, amid these challenges, last month Airbnb filed paperwork to become a publicly traded company.

Source:  Bisnow

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How The Pandemic Has Changed Apartment Building Amenities

Author: Admin
Categories: Commercial News,Development,Multifamily,Trends

While slow to embrace major changes — some developers say they’re hopeful that pandemics will not be a concern when their projects finally open in 2023 — developers are making tweaks in the face of the COVID era.

They’re adding cabana-lined roof decks, repurposing lounges as outdoor schools and switching out built-in couches for more movable versions to facilitate social distancing, as well as adding ventilation systems that are deluxe even by the standards of luxury apartments.

“We haven’t had drastic changes,” said Whitney Kraus, the director of architecture and planning for Brown Harris Stevens Development Marketing, but added, “I don’t think amenities will ever go back to the way they were before.”

Some upgrades will likely appeal whether a disease is rampaging or not.

Click here to read more about this story.

 

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Is The Pandemic Priming Neighborhoods For A New Wave Of Gentrification?

Author: Admin
Categories: Allapattah,Aventura,Commercial News,Development,Leasing,Miami Beach,Multifamily,Wynwood

Last year, we might have viewed gentrification as one of the worst aggravators of the housing market. We did not expect a pandemic. We’ve spent months indoors, lost work or transitioned to telecommuting, and watched once-bustling streets go silent; and as the coronavirus persists, more and more people have fled cities to hunker down in rural locations.

The question of gentrification still looms, and in deciphering what this exodus means for the future of housing, some have looked to the phenomenon of disaster gentrification in particular.

“When [people] talk about disaster gentrification, they’re referring to instances where a community was hit by a disaster that caused, at a minimum, temporary displacement,” says Lance Freeman, a professor at the Graduate School of Architecture, Planning, and Preservation at Columbia University, and a leading researcher on gentrification. “In the rebuilding process, the area was rebuilt for people from higher social economic status households,” preventing original tenants from moving back to their neighborhoods and uprooting communities.

New Orleans in the wake of Hurricane Katrina is perhaps the best-known example of disaster gentrification—reported by CityLab: “Those neighborhoods with a higher percentage of physical building damage were more likely to have gentrified one decade after the storm”—but it has occurred in New York, Miami, and other cities that have experience major climatic disasters. With the pandemic now worldwide, it’s worth considering if the pattern will reappear, though for different reasons—namely, people forced out of their homes by financial hardship, and a migration from urban to rural areas.

For gentrification to occur, two things must happen. For one, “you have to have an area that has very low values on residential real estate, which involves disinvestment and [maybe] abandonment of certain areas,” says Bruce Mitchell, a senior analyst for the National Community Reinvestment Coalition (NCRC).

The second thing? Investment—or, as Freeman notes, a rebuilding of an area so that it effectively prices out the current residents in favor of higher-income renters and buyers.

Right now, the U.S. is currently in a recession, with  about 31 million people unemployed. With so much uncertainty around when the pandemic will end, people will continue to suffer economically, especially those who live in lower-income communities, which are disproportionately people of color, notes Freeman.

“If you look at the number of predominantly white communities and then at the number of communities of color, the disinvestment in the community of color will be more disproportionate than in the white neighborhood,” he adds. “In that sense, you can say they experience more gentrification because they’re disproportionately in the working-class, disinvested neighborhoods.”

 

According to the Center for American Progress, “Housing instability triggered by the coronavirus pandemic is a growing threat across the United States, especially in communities of color.”

It notes that where 9% of white homeowners missed or deferred a mortgage payment in May, 20% of Black homeowners did the same.

If people of color and low-income communities continue to suffer economically, will they be forced to abandon their homes for areas that are more affordable, causing an abandonment or disinvestment of a neighborhood? And will that prime a neighborhood for gentrification to occur? Perhaps so—especially when you consider how many people in these neighborhoods are renters.

“In the short term, it looks like there are going to be a lot of repercussions having to do with the current rental crisis and the inability of people to pay their rent because they simply don’t have the income,” says Mitchell. “[If] people can’t pay rent, then landlords—particularly small landlords—are not going to be able to meet their mortgages, perhaps.”

While Mitchell views the eviction and rental crisis as something that may cause an increase in temporary homelessness, others are concerned that city residents will voluntarily turn to small towns and rural places due to the rise in telecommuting, or be forced into these areas in search of more affordable living.

“The workplace has increasingly moved into people’s homes,” says Mitchell. “It could result in movement out of central cities to areas that are less expensive.”

Rural gentrification has occurred in the past. Freeman notes, “In the New York area, you had these smaller towns in Upstate New York along the Hudson River that many artists and other creative types moved to starting at the latter part of the last century. They were drawn to those areas because housing is cheaper, [and] it’s scenic.”

Though some may have sought rural areas at the beginning of the pandemic, Freeman doesn’t foresee Americans moving to rural areas en masse.

“As we’re seeing in many of these smaller communities, you’re still not immune or protected from the virus, necessarily,” he says. “I think in the short term, perhaps that’s happening. I’ve seen anecdotes about it, but I don’t think it’ll be a permanent trend.”

We’ve also heard these anecdotes and reports of New York City residents moving to Upstate New York, Connecticut, and Vermont, or Californians in cities like San Francisco heading to Montana. In April, Redfin’s CEO said demand for rural homes was higher than for urban homes, and in May, the company noted that Redfin page views of homes in towns with fewer than 50,000 residents were up 87% year over year. And yet, the company also found that 27% of users who were looking to move during the pandemic were focused on metros like Las Vegas and Sacramento.

Comparing these statistics to actual homebuyer behavior will take time. In the meantime, we should keep in mind that many reports of city dwellers migrating to rural areas have centered on residents of metropolises in California and New York; those anecdotes are not necessarily representative of the entire nation.

Shad Bogany, a realtor who serves on the board of directors for the Houston Association of Realtors (HAR), feels similarly to Freeman. While he notes that the real estate market dipped in April and May, Bogany says that people are currently buying and selling houses in droves. “We don’t have enough houses to sell,” he says.

For Bogany, there’s one reason that the market has remained strong, and it’s not that buyers are moving to areas they deem safer or cheaper—rather, “people are making decisions based on the low interest rates.”

 

Source:  Dwell

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How Covid-19 Is Changing Leasing Agreements For Businesses

Author: Admin
Categories: Commercial News,Leasing,Retail,Trends

Experts say changes are on the horizon to the decades-old language in retail and restaurant leases as a result of the Covid-19 pandemic.

New leases are being written with substantial changes, particularly in regard to provisions that provide relief for tenants that are unable to fulfill their contract obligations because of circumstances out of their control, such as a natural disaster or pandemic.

Steven Silverman, a shareholder at Miami-based Kluger, Kaplan, Silverman, Katzen & Levine PL, who deals in lease negotiations, said the language in these provisions is often broad, and landlords did not interpret them to apply to shutdowns caused by a pandemic.

As a result, many new leases signed over the last few months include more specific language, Jaime Sturgis of Fort Lauderdale-based Native Realty said.

“Moving forward, there’s going to be a little more clarity,” he said. “[The provision] is broad by design, so I think moving forward more clarity and more specific language addressing these types of situations.”

Click here to read more about this story.

 

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14 Big Factors Driving CRE Trends This Year And Beyond

Author: Admin
Categories: Commercial News,Development,Healthcare,Leasing,Multifamily,Offices,Retail,Shopping Centers,Trends

The Covid-19 pandemic has created an unprecedented challenge for the real estate industry.

Commercial real estate professionals have had to navigate new obstacles like virtual showings, finding buyers during an economic downturn and perhaps most significantly, the shift away from centralized offices toward full-time remote work.

The current climate and circumstances will continue to impact real estate trends in the months and years to come, and if you’re in the industry, it’s important to be prepared for what’s ahead. To help, Forbes asked 14 members of Forbes Real Estate Council for their insights.

Below the members identified the biggest factors driving commercial real estate trends this year and beyond.

1. Utility Management For Remote Work

One factor is the ability of some companies to effectively and responsibly manage critical business initiatives while telecommuting. Companies are evaluating the health, safety and necessity of their employees working remotely versus maintaining the continuity of a central office location which may have redundant electrical power, data connectivity and other security measures necessary to maintain sales and operations. – Josh Gopan, Simone Development Companies

2. The Need For Office Space In The Home

While everyone has always needed a place to live, people’s homes now have added value. With many people shifting their workplaces from offices to their homes, their dwelling also has increased in importance. Conversely, this has had a detrimental effect on office space across the country. – Matt Picheny, MJP Property Group

3. Smart Amenities

The adoption of technology will drive smart amenities from the “nice-to-have” column to the “need-to-have” column as restrictions are put in place by local, regional and state governments. Adoption was already trending up pre-Covid-19, but should continue to see a strong increase over the next 12 to 24 months. – Marshall Friday, ADT Security Services

4. Newly Available Subleases

Large, established institutions, like Twitter, Facebook, etc. have put work from home requirements in place that are minimizing their physical space requirements. Combined with businesses negatively affected by Covid-19, there is a large volume of subleases hitting the market. Younger companies that are doing well are looking for flexible space and terms, so subleasing might be the top CRE trend. – Matt Weirich, Realync

5. Less Demand For Commercial Office Space

The outlook of office space is uncertain, but possibly very dark. Businesses had to adjust quickly to a virtual workforce. Many of those businesses will find that they can operate just as well without the overhead costs associated with owning or leasing a physical office. – Chris Bounds, reHacking / Bounds Realty Group by eXp Realty

6. Uncertainty Around Retail Business Operations

One of the key factors driving commercial real estate trends since Covid-19 is the uncertainty surrounding which type of businesses will be able to operate during the pandemic and how that drives the values of those assets. Businesses in strip malls, like nail salons and hair salons, have previously been immune from fluctuations in the economy, but are now at the peril of intermittent shutdowns. – Todd Sulzinger, Blue Elm Investments

7. Property Maintenance As A Priority

Covid-19 has pushed property maintenance to the forefront. Consumers are more concerned about disinfecting than ever, and well-maintained locations—including everything from sanitization to spotless floors and regular, visible cleaning to fresh landscaping—instill confidence. Facilities maintenance is an area companies will need to increase investment in as it becomes integral to brand experience. – Marc Shiffman, SMS Assist

8. High Demand For Essential Businesses

In the net lease world, investors are focusing on quality and stability, both for guarantor and real estate fundamentals. We’re seeing very high demand and capital being reallocated to essential businesses like grocery stores, dollar stores, auto parts and service centers, pharmacies, medical companies and quality guarantors in fast food. Stable cash flow with quality tenants paying rent wins in a high-risk market. – Kyle McCollum, Trinity Real Estate Investment Services

9. Short-Term Market Performance

Covid-19 prompted many investors to spend more time tracking short-term market performance. From an investment perspective, our strategy and analysis begins by evaluating which sectors experienced stability in the last 20 weeks. Multifamily, self-storage, healthcare, NNN retail and office performers are well-documented, however, we must consider how each asset will also perform in the long run. – Keith Lampi, Inland Private Capital Corporation

10. Increased Importance Of Rental Property Amenities

With many people sheltering in place, office properties are relatively empty and time spent at home has never been higher. This makes multifamily amenities increasingly important. The trend of renters seeking well-appointed properties is not new, but in the wake of Covid-19, the value of on-site dining options, co-working lounges, fitness centers and other amenities has never been greater. – Salvador Garcia, MAS Development Group

11. The Internet’s Impact On Land Value

Technology and digital connectivity have disrupted many industries and real estate is not immune. We have been forced to realize that such advances may alter our approach to land use and the built environment. There will be increasing discussion about the effect of the internet on the value of land generally, although we are in the very early stages. – Eliot Bencuya, Streitwise

12. Changes In How Office Space Will Be Used

When demand returns for office, the largest part of the workforce will be hybrid workers that come to the workplace two to three days a week. This is down from four to five days per week meaning a 20 to 30% decrease in demand for office, retail, hospitality, etc. This will dramatically shift how these assets are used and valued. We will see the productization of the office from a couple of products to several. – Jacob Bates, CommonGrounds Workplace

13. Industry Adaptability And Resilience

This trend is truly remarkable as it has shown how resilient the industry is. The market has made huge progress in creating work-from-home environments with management companies investment firms and doing the best they can through the use of many tech support programs. It’s been remarkable to see this trend take life while showing the industry stays strong (thanks to interest rates being low). – Heidi Burkhart, Dane Real Estate

14. Capital Reallocation

As we’ve seen in past downturns, there is a massive reallocation of capital for investment to commercial sectors deemed safer with cash flows that are perceived to be more durable. Look for pricing to tighten and competition to increase in multifamily, industrial, self-storage and medical sectors while loosening in retail, office and hospitality. – Max Comess, Hodges Ward Elliott, LLC.

 

Source: Forbes

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To Fill Vacant Stores, Lincoln Road Seeks Pop-Up Businesses

Author: Admin
Categories: Commercial News,Leasing,Miami Beach,Retail,Trends

Cultural institutions and new retail shops may find temporary homes on Lincoln Road this winter, as the Lincoln Road Business Improvement District is hoping to bring in a series of pop-ups to boost business and fill vacancies. 

The improvement district’s executive committee has unanimously voted to support and promote pop-ups during the upcoming season.

“We’re looking to work with local cultural organizations that may want a space on Lincoln Road during the holidays,” Timothy Schmand, the committee’s executive director, told Miami Today last week. Additionally, he said, the committee would like to work with retailers, including clicks-to-bricks stores that operate primarily online and want to try out a physical space.

According to Mr. Schmand, site occupancy on Lincoln Road is currently around 74%.

“We have empty storefronts,” improvement district Vice President Lyle Stern told the committee Aug. 20, “(and) I think we have to use the opportunity right now to fill every single vacancy we can on Lincoln Road this year.”

“We as a group,” he continued, “should encourage all of our owners to make (vacancies) available for appropriate – and we’ll have to define appropriate – vendors to come to Lincoln Road and occupy this space subject to some conditions.”

The committee would have to discuss these conditions, Mr. Stern said, which could include requiring a security deposit or insurance policy.

“I think it’s a great idea,” said Mindy McIlroy, committee treasurer and president of real estate firm Terranova. “Terranova has done a lot of work on this already – we have been actively soliciting for fashion boutiques for our vacancies to fill our spaces from October through January. Just to your point, we want to have a very active holiday shopping season.”

Retailers in the fashion industry, she added, may have a lot of inventory as few people shopped for spring and summer styles this year. 

Indeed, Terranova’s founder and Chairman Stephen Bittel told Miami Today that the corporation plans to target local and regional retailers and is already communicating with two possible short-term tenants: a plant store and a vintage boutique.

To boost business and bring people back to the street, he continued, Terranova is willing to be “uniquely flexible” when it comes to rent. At the height of business, Mr. Bittel said, rental rates were in the $300s per square foot per month. Now, he said, these rents are in the $200s, and for short-term rentals his company is talking to some tenants about making rent “the cost of occupancy plus a percentage of sales.”

“All the owners are very focused on pushing occupancy and filling up our storefronts to provide the best opportunities for our guests,” he said, “and that strategy means we need to get those windows full. We are (willing) to sacrifice some near-term revenue to enhance the overall experience so that we can return to the strength that the street previously had.”

Mel Schlesser, a member of the committee, said the improvement district would need to be mindful of the City of Miami Beach’s policies. “If we don’t have significant support from the city to allow these pop-ups to move forward expeditiously,” he said, “we’re going to be wasting our time.”

However, Ms. McIlroy noted that policies already address this concern. “There is a pop-up program in place already that the city has initiated,” she said, “75% of what you just spoke about is already completed.”

The pop-up process, Mr. Schmand said at the committee meeting, “is a far more expedited process than the traditional process.” “I used it successfully a couple of times,” he said.

Steve Gombinski, the committee’s president, said that while Lincoln Road’s vacancies during Covid are not a unique problem, the improvement district could hopefully offer a unique solution. 

“We want to help the community,” he said. “We want to welcome everybody. We want art galleries, we want retail (and) other pop-ups. (We could) find out if there are restaurant spaces available where innovative chefs could come in for a short period of time.” 

The committee, Mr. Gombinski continued, should ask landlords what type of tenants they’re looking for and put together an inventory that would allow them to easily match interested tenants with open spaces.

The district wants to know the “wants, needs and desires,” of possible tenants, Mr. Schmand told Miami Today, so that it can come to an agreement that is beneficial for everybody.

Lincoln Road is not alone in seeking opportunities to increase business and promote cultural institutions as the year continues. Last week, Miami Today reported that Coral Gables city commissioners unanimously approved the installation of four new murals on Miracle Mile with the goal of stimulating the economy.

 

Source:  Miami Today

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How One South Florida Landlord Made Forbearance Decisions

Author: Admin
Categories: Commercial News,Leasing,Retail,Shopping Centers

In March and April, Claudio Mekler, the owner of five retail centers in South Florida, was busy. As COVID-19 was forcing his tenants to close their businesses, he was focused on working out forbearance deals with them.

“When making the decisions on forbearance, we analyzed each case and made one-on-one decisions based on real data,” said Mekler, CEO and founder of Sunrise-based Miami Manager. “We negotiated agreements that benefited the tenant, our investors and our lenders.”

That strategy mitigated the immediate need for rent relief. Mekler took a personalized approach to each situation. For instance, if a tenant paid six months in advance, he would reduce the rent by 50 percent. He let a tenant who was halfway through construction of a new store defer rent payments in April and May so they would only have to pay the common area maintenance, or CAM, fees during that time.

“Another tenant paid us 50 percent of the rent plus the CAM in April, May and June,” Mekler said. “In July, the business was to begin paying full rent again. Then in January, February and March 2021, that tenant will pay full rent plus installments of the deferred rent.”

As Mekler has worked through agreements with current tenants, he is still approached by companies interested in leasing space in the shopping centers that he owns, manages and leases in Miami-Dade, Broward and Palm Beach counties.

 

TO READ THE REMAINDER OF THE STORY, CLICK THE “DBR” LINK BELOW

 

Source:  DBR

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Robot Used To Kill Coronavirus In Hospitals Now Being Tested In Residential Buildings

Author: Admin
Categories: Commercial News,Healthcare,Multifamily

The Xenex LightStrike Xenon-Ray Robot is the world’s only proven Coronavirus-Killing UV light disinfection device, according to a just-released peer-review study published by the UK’s Cambridge University Press.

And now, LightStrike, which is used in hundreds of hospitals, is, for the first-time, being debuted and deployed in a Miami residential building.

According to the study, LightStrike is 99.99% effective at deactivating SARS-CoV-2, the virus that causes Covid-19.

No other UV ray device has been proven to kill the coronavirus.

LightStrike is not used on people or pets. It disinfects the air and an array of surfaces.

Miami is one of the most coronavirus-impacted cities in the U.S. It is also one of the world’s most-competitive and high-value real estate markets, where developers are vying to offer anti-COVID features.

“The Covid-19 pandemic has created demand for a new disease-conscious lifestyle,” says Paramount Miami Worldcenter’s CEO-Developer Daniel Kodsi. “Buyers and residents consider disinfecting technologies essential and we are the first to offer these features; providing security and peace of mind to our residents.”

LightStrike Technology

LightStrike Germ-Zapping Robots are used in 650 healthcare facilities, worldwide. They include the Mayo Clinic, the University of Texas MD Anderson Cancer Center and Veterans Affairs hospitals from coast-to-coast.

“There are a lot of UV products on the market that make a lot of claims,” says Xenex (Zen-X) CEO Morris Miller. “LightStrike is the only robot that has been proven to kill SARS-CoV-2 and there are over 40-plus independent studies proving its efficacy.”

He emphasizes, “As an example, the robot was tested against SARS-CoV-2 at the Texas Biomedical Research Institute, which is one of only 10 Bio Safety Level 4 Labs in North America. Scientists there concluded that LightStrike achieved a 99.99% level of disinfection during a two-minute treatment.”

LightStrike’s intense, pulsating bursts of xenon UV light are not only proven to destroy the virus that causes COVID-19; but its robotic disinfection system also deactivates C.diff, Ebola, MRSA, SARS and other viruses and pathogens, according to an array of studies published by major universities and hospitals.

Paramount Miami Worldcenter is the only residential tower currently to be chosen to evaluate the efficacy, efficiency and cost-effectiveness of the LightStrike Robot, according to Xenex.

According to Kodsi, Phase One of the Paramount Miami Worldcenter LightStrike Robot evaluation focuses on the building’s public areas and a select number of its luxury high-rise homes.

He explains, “The primary public areas include the 5,700 SQF spa & fitness center and the building’s game room, kids’ playroom, indoor basketball and racquetball courts, elevators and restrooms.”

Phase Two disinfection will include high-rise homes.

About Xenex LightStrike

▪ Made-in-the-USA: San Antonio, Texas.

▪ Each LightStrike robot costs $125,000, which equates to a cost of approximately $100 per day over a 37-month period.

▪ Hospitals report disinfecting as many as 60-rooms per day with a single robot, which equates to a cost of about $3 per room.

▪ Robot emits bursts of brilliant, broad spectrum UV light that quickly destroys microscopic viruses and bacteria.

▪ Different pathogens are susceptible to UV light at different wavelengths.

▪ With broad spectrum UV light, LightStrike robots quickly deactivate viruses and bacteria by destroying their molecular structures and cell walls.

▪ Average-sized bedroom requires two, two-minute disinfection cycles (one on each side of bed) with additional two-minute treatment in the bathroom.

▪ LightStrike’s rays destroy micro-organisms on high-touch surfaces without causing damage to equipment, furniture, clothing and other items.

▪ Safely operated for more than 23 million cycles.

▪ No chemical residues or toxic fumes.

▪ LightStrike currently in-use at more than 650 healthcare facilities, food processing plants, and government buildings.

 

Source:  EIN Presswire

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