Category: Top Stories

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 […]

Miami Commercial Real Estate News May 12, 2021: Downtown Miami Tower Trades for $300 Million; 501K sf Industrial Breaks Ground Near MIA; More…

May 12, 2021 - Top Stories - 0 Comments - Standard

Affordable housing developer buys piece of Little Havana assemblage The site and renderings of Premium Development’s nearby project. (Premium Development) An affordable housing developer paid $15 million for land in Miami’s Little Havana neighborhood. Premium Development bought the 2.3-acre property at 700 West Flagler Street from Presidente Supermarkets, according to a broker involved in the […]

Miami Commercial Real Estate News May 5, 2021: Judge Negs Fed’s Eviction Ban; 3 of 5 Largest Florida Office Trades in Miami-Dade; More…

May 05, 2021 - Top Stories - 0 Comments - Standard

3 Of 5 Top Office Transactions in Florida in Q1 were in Miami-Dade Florida’s second-largest office deal was EQ Office’s purchase of Two and Three MiamiCentral, a 333,438-square-foot office portfolio in Miami. The Chicago-based REIT paid Shorenstein $230 million for the buildings, which previously traded for $159.4 million in 2019, one year after their completion. Shortly […]

Miami Commercial Real Estate News April 28, 2021: 452-Unit MF Trades for 96.6M; Governor Signs Bill Reducing CRE Lease Sales Tax; Office Market Heating Up; More…

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

MG3 Group sells Florida charter school portfolio including Everglades Prep in Homestead for $242M An Aventura-based charter school developer sold two South Florida campuses for $78.1 million, as part of a $242 million portfolio deal for eight schools throughout the state. MG3 Group, led by Marcelo Saiegh, Hernan Leonoff and Gustavo Bogomolni, sold the schools […]

Miami Commercial Real Estate News April 21, 2021: Two Multifamily Trades Near $100 Mil; Two Industrial Prop Sales Exceed $25 Mil; Miami Attracting Big Tech, NY; More…

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

Chart: Miami Commercial Real Estate Sales to List Price Ratio March 2021 The sales to list price ratio as reported by the Miami MLS for improved commercial real estate (MLS classification: commercial/industrial) within Miami-Dade county in Florida priced from $1 million to $10 million in March came up a bit to 93% from 89.5% the […]