Jason Halpern’s JMH Development sells Indian Creek Drive property for $7.75M
Jason Halpern’s JMH Development just sold its Indian Creek Drive property for $7.75 million, ending its plans to build a condo project on the Miami Beach site. Records show 2901 JMH LLC sold two parcels, at 2901 Indian Creek Drive and 2922 Indian Creek Drive to 29 ICD LLC with a Brooklyn, New York address linked to Madison Estates Real Estate. The buyer is also linked to Gerard Longo and another entity, Three Stones LLC. JMH took back a $5.25 million mortgage…
Victor Calanog, Senior Economist and Senior Vice President with Reis, a leading commercial real estate market information and analytical tools provider, discusses potential effects a Donald Trump administration on the economy overall with a concentration on commercial real estate. The video…
Firm opens Brickell office to manage $10.5B in real estate
TH Real Estate has opened an office in Miami’s Brickell to manage a $10.5 billion commercial real estate portfolio with in the Southeast U.S. and Latin America. The company, a division of TIAA Global Asset Management, leased about 3,500 square feet in the Courvoisier Centre on Brickell Key. Manuel Martin has relocated from the company’s Madrid office to lead its Miami office.
Brickell City Centre announces free parking, Uber partnership
In a wise decision to make Brickell City Centre more attractive and accessible to customers, Swire Properties announced a couple of transit-oriented nuggets this morning, including free parking and a partnership with Uber. Effective immediately, there will be complimentary parking for two hours at the underground garage at the $1.05 billion mixed-use development. However it’s only for a limited time. As for the Uber partnership, there are also now designated pick-up points…
Publix faces unprecedented competition from rivals
Publix Super Markets, a ubiquitous anchor at Florida shopping centers, faces the most competitive environment in its history as rivals expand their presence in the Sunshine State. The Tampa Bay Times reported that Lakeland-based Publix has gradually lost market share to Whole Foods Market, Trader Joe’s, The Fresh Market and to grocers that recently entered the Florida market, including Lucky’s Market and Sprouts Farmers Market.
A developer wanted more residential units. The city of Doral said no, so the developer sued.
A development company is suing the city of Doral after the City Council refused to increase the density of its project even though the company said it met all of the city’s requirements. The three council members who voted against the measure — former Mayor Luigi Boria and Councilwomen Christi Fraga and Ana Maria Rodriguez — cited concerns over increasing the city’s density. Shoma Group, a firm spearheading a mixed-use project dubbed “Sanctuary at Doral” along…
24-Story Mixed-Use Project With Hotel Coming To Brickell
Cranes are not going out of business any time soon in the heart of booming Brickell with a new “neighborhood style hotel” and retail, as well as possible commercial and residential components.
CBRE has been tapped by the banking giant to market its 7,400 SF Citibank South Beach branch at the corner of Washington Avenue and 17th Street in a deal that could see it trade in excess of $20M, according to The Real Deal. That’s because the 30k SF lot the bank sits on is zoned for high-density commercial, where a developer can build up to 82k SF, depending on use, CBRE’s Paul Weimer told the publication. “We think a hotel is the highest and best use, but it could be…”
How Not to Build a Supermall: $5 Billion, 5 Governors, 3 Developers, and 15 Years
Don Ghermezian wants to pitch us on the American Dream, but he has a few conditions. First, we’re not allowed to record his eight-minute presentation. Second, we can ask him only a few questions, at the end. Third, if they’re about his family, he won’t say much. “This is a $4.8 billion project that will be the center of the universe,” he says, promising we’ll be impressed. If not, “you’ll be the first ever to leave here without thinking, ‘Holy shit. These guys are incredible.’ ” Ghermezian is…
Muse Residences in Sunny Isles Beach tops off
The 68-unit luxury tower reaches a milestone Muse Residences in Sunny Isles topped off a few days ago, with the 68-unit luxury tower expected to be completed in early 2018, per the press release. Developed by Property Markets Group and S2 Development, the 659-foot development was designed by Carlo Ott…
Eric Trump replaces Donald Trump as president of hotel business: Florida records
Ivanka Trump, Donald Trump and Eric Trump during the grand opening of Trump International Hotel in D.C. in October. President Donald Trump has been replaced by his son Eric as president of Trump International Hotels Management, records filed Monday with the Florida Secretary of State…
Miami River Commission says no to waterfront restaurants on industrial land
From left: Renderings of the restaurant on the Anchor Marine site, Henry Greenberg, and Shahab Karmely on right. Citing a need to preserve marine related businesses, the Miami River Commission dealt a serious blow to a pair of unrelated waterfront restaurant proposals. At a special hearing on Monday…
FIU, PCM Sign Leases at Flagler Corporate Ctr
Two tenants have leased a total of 30,000 square feet in the Flagler Corporate Center office building at 9250 W. Flagler St. in Miami, FL. Florida International University (FIU), Miami’s only public research university, leased 14,000 square feet to house its Herbert Werheim College of Medicine…
Atkins NA Leases 26,000 SF at 800 Waterford
Design, engineering and project management consultant Atkins North America is the first tenant to lease space in 800 Waterford Way, the spec 10-story, 246,085-square-foot class A office building under construction in the Miami Airport submarket. Atkins NA took the entire seventh floor, signing…
Video: An Update for Investors on the United States Lodging Industry
Senior Managing Director and Head of Lodging Research for CBRE discusses the current status of the lodging market. Among the topics discussed are occupancy, average daily rates, growth, development, and revpar. He is interviewed by Michael Bull, a broker in Atlanta and the host of The Commercial Real Estate…
Miami-Dade County Commission Approves Incentive-Driven Workforce Housing Ordinance
On December 20, 2016, the Miami-Dade County Board of County Commissioners approved an Ordinance proposed by Commissioner Barbara Jordan that provides incentives for builders to offer workforce housing units in new developments within the County. The Ordinance addresses the oft-discussed countywide…