Category: Top Stories

Miami Commercial Real Estate News September 8, 2021: Microsoft Leases 50K sf on Brickell; Miami Beach Hotel Sells for $42 Million; More…

Sep 08, 2021 - Top Stories - 0 Comments - Standard

Microsoft to lease 50K sf office at under-construction Brickell tower Microsoft is making its expansion in Miami official. The tech giant inked a roughly 50,000-square-foot lease at a new office tower under construction in the Brickell Financial District, as out-of-state tech firms continue to head to South Florida. Redmond, Washington-based Microsoft will use the space […]

Miami Commercial Real Estate News September 1, 2021: MF Near Zoo Sells for $107M; Collapsed Condo Site Hits Market; Developments at Hialeah Park; More…

Sep 01, 2021 - Top Stories - 0 Comments - Standard

Milestone Group pays $107M for Emerald Palms apartments near Zoo Miami The Milestone Group paid $107 million for the 505-unit Emerald Palms apartment complex near Zoo Miami in southwest Miami-Dade County. The multifamily investment firm bought the community at 12325 Southwest 151st Street from an affiliate of Denver-based Grand Peaks Properties, records show. Milestone Group […]

Miami Commercial Real Estate News August 25, 2021; Medley Industrial Park Sells for $35M, Wynwood Dev Site for $13M; Coral Gables Rejects Development; More…

Aug 25, 2021 - Top Stories - 0 Comments - Standard

Hidrock Properties, Robert Finvarb pay $13M for Wynwood site New York-based Hidrock Properties and its partner, the Robert Finvarb Companies, purchased a property in Wynwood for $13 million that they eventually plan to redevelop, The Real Deal has learned. The two firms acquired the building at 2534 North Miami Avenue and the adjacent lot at […]

Miami Commercial Real Estate News August 18, 2021: Palmetto General Bought for $900 Million; Televisa Sells Virginia Gardens HQ for $13 Million; More…

Aug 18, 2021 - Top Stories - 0 Comments - Standard

Medical Properties Trust buys Palmetto General Hospital as part of $900M South Florida expansion Medical Properties Trust just closed on the fourth of the five hospitals it plans to acquire as part of a major expansion into South Florida healthcare totalling roughly $900 million. The Birmingham, Alabama-based real estate investment trust bought Palmetto General Hospital […]

Miami Commercial Real Estate News August 11, 2021: Collapsed Condo Site Heading to Sale, $100M+ Expected; $500M Coral Gables MXU Completed; More…

Aug 11, 2021 - Top Stories - 0 Comments - Standard

Legacy Miami Worldcenter Gets Approval To Build Taller Than Originally Planned Legacy Miami Worldcenter is getting a height increase. The tower is now expected to rise 20 feet taller than originally planned, according to a new approval letter issued by the Federal Aviation Administration yesterday. Legacy was originally planned to rise 661 feet above ground, […]

Miami Commercial Real Estate News August 4, 2021: AC Hotel Miami Beach Sells for $45 Million; RaceTrac Buys Medley Junkyard for $9 Million; Eviction Ban Developments; More…

Aug 04, 2021 - Top Stories - 0 Comments - Standard

Robert Finvarb sells AC Hotel Miami Beach to TPG Global investment firm TPG continues its hotel buying spree in South Florida. An affiliate of TPG paid $45.3 million for the 150-room AC Hotel Miami Beach at 2912 Collins Avenue, records show. The price represents what TPG paid for the real estate, but it is not […]

Miami Commercial Real Estate News July 28, 2021: Landlords Sue Government Over Eviction Ban; Brickell Retail Condo Sells for $14 Million; More…

Jul 28, 2021 - Top Stories - 0 Comments - Standard

Landlords sue federal gov’t over rental losses during CDC eviction ban In three days, the federal ban on evictions is set to expire, allowing landlords in most states to take non-paying tenants to court. But property owners say they deserve more than the freedom to join a backlogged docket. They want money. The National Apartment […]

Miami Commercial Real Estate News July 21, 2021: Brickell Four Seasons Trades for $130 Million; Wynwood Mega Developments; Office Market Updates; More…

Jul 21, 2021 - Top Stories - 0 Comments - Standard

Fort Partners buys Four Seasons Brickell hotel for $130M The developer of the ultra-luxury Four Seasons at the Surf Club in Surfside acquired the Four Seasons Miami hotel in Brickell for about $130 million, The Real Deal has learned. The acquisition gives Fort Partners control of all four Four Seasons properties in South Florida, including […]

Miami Commercial Real Estate News July 14, 2021: Doral Office Property Trades for $96 Million; Palmetto Bay Multifamily Sells for $58 Million; More…

Jul 14, 2021 - Top Stories - 0 Comments - Standard

MG3 Group buys Doral offices for $96 million MG3 REIT bought the Doral Concourse office building for $96 million. The real estate investment trust bought the property at 8400 Northwest 36th Street from a fund managed by DRA Advisors, according to a news release from the seller’s broker. Christian Lee and José Lobón of CBRE […]

Miami Commercial Real Estate News July 7, 2021: Plan for WorldCenter Marriot Marquis Nixed, Land Trades; Mana Expands Downtown Assemblage; More…

Jul 07, 2021 - Top Stories - 0 Comments - Standard

Moishe Mana expands downtown Miami assemblage with $12 million purchase Downtown Miami’s largest private property owner is still adding to his assemblage. Mana, who has envisioned transforming his real estate into the Mana Common tech and cultural hub, bought the half-acre parking lot at 49 Northwest First Street for $12.4 million, according to a news […]

Miami Commercial Real Estate News June 30, 2021: Condo Disaster Updates; One Biscayne Tower Sells for $225M, “Burdines” Dev Site for $46M; More…

Jun 30, 2021 - Top Stories - 0 Comments - Standard

Surfside condo “a time bomb:” Survivor’s lawsuit cites falling concrete, cracks and standing seawater in garage Raysa Rodriguez recounts a harrowing escape from her unit at the collapsed Surfside condominium, and lays out mounting warning signs in a newly filed lawsuit. Among them: a concrete chunk that had fallen from the garage ceiling and a […]

Miami Commercial Real Estate News June 23, 2021: Pembroke Pines MF Sells for $223 Mil, Bay Harbor Islands Dev Site for $31 Mil; Margaritaville Selling for $270 Mil; More…

Jun 23, 2021 - Top Stories - 0 Comments - Standard

Berkadia Arranges $31M Sale of Mixed-Use Bay Harbor Islands Development Site Berkadia has arranged the $31 million sale of a 1.8-acre development site in Miami’s Bay Harbor Islands known as 1177 Kane Concourse. Located just west of Bal Harbour Shops, the site includes 300 feet of frontage on Kane Concourse and is permitted for a […]

Miami Commercial Real Estate News June 16, 2021: Edgewater Developments Aplenty; Miami Shores MXU Breaks Ground as Multifamily Trades; More…

Jun 16, 2021 - Top Stories - 0 Comments - Standard

Fuse Group acquires Security Building in downtown Miami, plans to sue WeWork for alleged lease breach Fuse Group Investment acquired the storied Security Building in downtown Miami and plans to sue WeWork over allegedly vacating its offices in violation of the lease, The Real Deal has learned. The 17-story, historic building at 117 Northeast First […]

Miami Commercial Real Estate News June 9, 2021: Shopping Center Near FIU Sells for $19 Million, Aventura Office Complex for $93 Million; More…

Jun 09, 2021 - Top Stories - 0 Comments - Standard

Core pays $19M for shopping center near FIU Core paid $19 million for a shopping plaza near Florida International University’s Modesto A. Maidique Campus in west Miami-Dade County. The Miami-based real estate investor, through an affiliate, bought the retail property at 9720 Southwest Eighth Street from two sellers tied to Miami-based Orion Real Estate Group, […]

Miami Commercial Real Estate News May 26, 2021: Lincoln Road Property Trades for $19 Million; Miami Board Approves Wynood, Little Havana Projects; More…

May 26, 2021 - Top Stories - 0 Comments - Standard

LIVWRK in contract to buy Wynwood assemblage from East End Capital LIVWRK, a Brooklyn-based development firm, is making its first foray into Miami commercial real estate, The Real Deal has learned. The company, led by founder and CEO Asher Abehsera, is under contract to buy a 2.5-acre assemblage in Wynwood, according to sources. East End […]

Miami Commercial Real Estate News May 19, 2021: Nissan Dealer Buys Doral Property; Multifamily Developer Secures Little Havana Assemblage; More…

May 19, 2021 - Top Stories - 0 Comments - Standard

Bill Seidle’s Nissan dealership buys Doral building for $16M A Nissan dealership bought a Doral building where it operates its service center for $16 million. An affiliate of Bill Seidle’s Nissan, which sells and repairs vehicles, bought the property at 10688 Northwest 12th Street from The Miami International Grantor Trust, according to public records. The […]