Category: Top Stories

Miami Commercial Real Estate News January 25, 2023: Million SF Wynwood MXU Gets $215M Financing, to Break Ground; Rents Up for All South Florida CRE Asset Classes; More…

Jan 25, 2023 - Top Stories - 0 Comments - Standard

L&L Holding, Oak Row Equities Obtain $215M Construction Financing for Mixed-Use Development in Miami L&L Holding Co. and Oak Row Equities, with project partner Shorenstein Properties and co-investor Claure Group, have obtained $215 million in financing for the construction of The Wynwood Plaza, a mixed-use project in Miami. Construction will begin on the 1 million-square-feet […]

Miami Commercial Real Estate News January 18, 2023: Beige Book Brings Positive Signs on Inflation; Airport West Warehouse Trades for $20M, Sale Leaseback; More…

Jan 18, 2023 - Top Stories - 0 Comments - Standard

Fed’s Beige Book Brings Some Positive Signs on Inflation From mid-November through December last year, the gap between labor supply and demand appeared to narrow, and nonlabor cost increases slowed, according to the Federal Reserve Bank of Atlanta’s new Beige Book report of economic conditions in the Southeast. Broadly, economic activity grew gradually as retailers reported […]

Miami Commercial Real Estate News January 11, 2023: Supertall Planned for Brickell Key; Hialeah Industrial Dev Site Trades for $111M, West Miami-Dade Data Center Dev Site for $14M; More…

Jan 11, 2023 - Top Stories - 0 Comments - Standard

Metronomic loses Coconut Grove project in foreclosure sale Developer Metronomic lost its completed Coconut Grove apartment project in a foreclosure sale, adding to its financial woes of recent years. Wilmington Trust, the largest creditor on GroveHaus, sold the 10-unit building at 3265 Bird Avenue for $8.1 million in a foreclosure sale to Bolonki LLC, an […]

Miami Commercial Real Estate News January 4, 2023: Last Miami Area Sears Eyed for 800 Resi Units; Miami Gardens Multifamily Trades for $113M; More…

Jan 04, 2023 - Top Stories - 0 Comments - Standard

B Group bids $102M for 20 acres in Miami’s Upper Eastside B Group Capital Management submitted a $102 million stalking horse bid for nearly 20 acres in Miami’s Upper Eastside and El Portal that are tied to a lawsuit alleging EB-5 fraud. The Miami-based… seeks to acquire the former U.S. immigration building site spanning 3.5 acres […]

Miami Commercial Real Estate News December 28, 2022: Pinecrest Retail Trades for $71M, Little Havana Multifamily for $31M, Trio of Walgreen’s for $34M; More…

Dec 28, 2022 - Top Stories - 0 Comments - Standard

MetLife sells Pinecrest shopping center to Miami JV for $71M After keeping it on its books for nearly 30 years, Metropolitan Life Insurance has sold a Pinecrest shopping center to a Miami-based joint venture for $70.5 million. An affiliate of Ibrahim Al-Rashid’s Limestone Asset Management and Joseph Sanz’ Orion Real Estate Group picked up the […]

Miami Commercial Real Estate News December 21, 2022: 4M sf $1B Riverfront Dev Breaks Ground; 55-Story Brickell Office Full Before Completion; Biggest Deals of 2022; More…

Dec 21, 2022 - Top Stories - 0 Comments - Standard

Chetrit Group to Transform Miami River Waterfront with 4M-SF of Residence, Office, Retail, Hospitality New York based developer Chetrit Group, a privately held real estate development company, has begun its transformation of six acres of Miami River waterfront located between I-95, Southwest Second Avenue and Jose Marti Park in Miami, FL. When fully completed in 2026, […]

Miami Commercial Real Estate News December 14, 2022: $1B Miami River Project Revived; FTX Was Miami Bound; Cube Wynwd Trades for $62M, Gables Dev Site $36M; More…

Dec 14, 2022 - Top Stories - 0 Comments - Standard

Chetrit revives $1B Miami River megaproject The Chetrit Group is resuscitating plans for its $1 billion megaproject along the Miami River, and is tapping hospitality mogul David Grutman to run the food and beverage operations. New York-based Chetrit secured approval in 2015 for the 4 million-square-foot phased project, planned for a 6.2-acre site south of […]

Miami Commercial Real Estate News December 7, 2022: Miami Worldcenter Delivers 80K SF Retail Building; Doral Shops Trades for $57M; 261 Apartments Proposed Near Brightline Aventura; More…

Dec 07, 2022 - Top Stories - 0 Comments - Standard

Square Mile Originates $185M Refi for Miami Asset Bezel Miami. Image courtesy of Square Mile Capital Management Square Mile Capital Management has originated $185 million in refinancing for Bezel Miami, a 43-story, Class A multifamily community in Miami, within the $4 billion mixed-use development Miami Worldcenter. ZOM Living is the owner of the asset, which […]

Miami Commercial Real Estate News November 30, 2022: Waterfront Dev Site Hits Market at $1B; 3 Towers Project Approved for Biscayne Blvd; More…

Nov 30, 2022 - Top Stories - 0 Comments - Standard

Genting wants over $1B for waterfront Miami site Malaysian gambling operator Genting Group is looking to cash in on its bet on Miami — while holding onto some of its chips. Genting is seeking more than $1 billion for its 15.5-acre waterfront assemblage, Bloomberg reported and sources confirmed to The Real Deal. The land at […]

Miami Commercial Real Estate News November 23, 2022: Medley Industrial Park Trades for $241M, Dev Sites Near Miami Central for $51M; High-Rise Plans Filed for Former Shorty’s BBQ Site; More…

Nov 23, 2022 - Top Stories - 0 Comments - Standard

TA Realty drops $241M for Medley industrial park In one of the largest South Florida industrial deals of the year, TA Realty picked up 12 warehouses in Medley for $241 million. An affiliate of the Boston-based real estate investment firm paid $241 million for a 1-million-square-foot industrial park at 9701-9793 Northwest 91st Court, according to […]

Miami Commercial Real Estate News November 16, 2022: Veto of Project Outside UDB Overridden; MiMo Multifamily Trades for $175M, Doral Industrial for $29M, Hialeah Gardens Nursing Home for $43M; More…

Nov 16, 2022 - Top Stories - 0 Comments - Standard

Miami Beach seeks development partner for Art Deco apartment building Miami Beach officials are contemplating partnering with a developer to renovate a city-owned Art Deco apartment building. The Miami Beach City Commission on Wednesday authorized staff to move forward with crafting a request for proposals to partner with a developer that can fix up the […]

Miami Commercial Real Estate News November 9, 2022: Deauville Upzone, Lincoln Road Office Projects Voted Down; Retail Rents Up; Office Sales Dive; A $471M Multifamily Properties Trade; More…

Nov 09, 2022 - Top Stories - 0 Comments - Standard

Robert Rivani fattens his South of Fifth restaurant portfolio Robert Rivani is done hunting for commercial condos in Miami Beach’s South of Fifth neighborhood after picking up a restaurant space near Joe’s Stone Crab. Rivani, a mohawked retail investor who leads Los Angeles-based Black Lion Investment Group, paid $12.2 million for a 13,500-square-foot commercial unit […]

Miami Commercial Real Estate News November 2, 2022: Fed Hikes Rates; UDB Expanding Industrial Project, $100M Cutler Bay Senior Living MXU Approved; Another Aging Condo Evacuated; More…

Nov 02, 2022 - Top Stories - 0 Comments - Standard

Miami & Other Sun Belt Markets Dominate Top 10 ‘Markets to Watch’ in 2023, According to Emerging Trends Report A variety of Sun Belt markets once again lead the “top markets to watch” in 2023 for overall real estate prospects, with Nashville ranking No. 1 for the second consecutive year in the annual Emerging Trends […]

Miami Commercial Real Estate News October 26, 2022: North Miami Multifamily Dev Site Trades for $14M, Edgewater Dev Site for $21M; $500M Miami Beach Condo Buyout Falls Apart; More…

Oct 26, 2022 - Top Stories - 0 Comments - Standard

Electra, BH purchase former Cutler Bay Sears store for $34M Seritage Growth Properties’ Andrea Olshan and Electra America’s Joe Lubeck with former Sears store at Southland Mall, 20505 South Dixie Highway:  Electra America and BH Group added a former Sears store to the joint venture’s Southland Mall assemblage slated for a $1 billion overhaul. The […]

Miami Commercial Real Estate News October 19, 2022: UDB Expanding Project Vote Deferred; Edgewater Dev Site Trades for $23M; Office Rents Climbing; More…

Oct 19, 2022 - Top Stories - 0 Comments - Standard

Oak Row and Lndmrk pay $23M for Edgewater dev site Oak Row’s David Weitz and Erik Rutter, Lndmrk’s Alex Karakhanian with 2927 Northeast Fourth Avenue: Oak Row Equities and Lndmrk Development are embarking on another Edgewater joint venture, snapping up a 1.5-acre site for $22.5 million in the booming Miami neighborhood. The joint venture is […]

Miami Commercial Real Estate News October 12, 2022: Coral Gables MF Trades for $42.5M, Blue Lagoon Office for $17M; Doral TOD Nears Groundbreaking; More…

Oct 12, 2022 - Top Stories - 0 Comments - Standard

Miami accounting firm pays $17M for Blue Lagoon office building Accounting firm Benitez & Co.’s principals rang up a $16.9 million purchase in Miami’s Blue Lagoon neighborhood, acquiring a four-story office building with a helipad. Juan and Maria Benitez bought the roughly 61,000-square-foot Waterford Corporate Centre at 5835 Blue Lagoon Drive, said their broker, Manny […]