East End Capital scores approval for co-living project in Wynwood Foyer Wynwood and Jonathon Yormak East End Capital secured approval for a co-living development in Wynwood. The Miami Urban Development Review Board this week approved Foyer Wynwood, a 12-story, 236-unit project on North Miami Avenue, between 24th and 25th streets, according to a press release. […]
Video: CCIM Chief Economist K.C. Conway on What to Expect Moving Forward for the Economy, Commercial Real Estate In this two part video series, CCIM Chief Economist K.C. Conway, CCIM, MAI, CRE, joins the host of America’s Commercial Real Estate Show to discuss what to expect move forward. Among the discussions expectations for jobs, property […]
Triple Five “inching closer” to construction on American Dream Miami Triple Five Group is still planning to move forward with its American Dream mega mall in Miami-Dade, even as the Canadian development group is staring down billions of dollars of debt payments for its other malls. Triple Five, led by the Ghermezian family, completed a […]
Brookfield pays $27 million for Medley warehouses Brookfield Property Partners is increasing its presence in South Florida’s booming industrial market. The real estate arm of the Toronto-based asset manager purchased two industrial warehouses at 10800 Northwest 92nd Terrace in Medley for $26.9 million, records show. Oviedo, Florida-based A. Duda & Sons sold the warehouses. The […]
Easton Group to Develop 266,000 SF Warehouse In Hialeah Gardens Easton Group will develop a 266,000-square-foot warehouse in Hialeah Gardens near Miami. An affiliate of Easton acquired an 8.5-acre site for $8.2 million. In September, a different Easton affiliate bought an adjacent 8.5-acre site for $5.6 million. Easton will develop the 266,000-square-foot property across the […]
Virgin Trains seeks $350M to build five stations in Miami-Dade Virgin Trains is proposing a major expansion of the commuter rail service, funded mostly by Miami-Dade County. Virgin Trains USA is seeking $350 million from the county to build up to five train platforms between downtown Miami and Aventura, as well as related infrastructure that would […]
Miami-Dade County’s Industrial Market Sees Healthy Activity Amid COVID-19 Headwinds The Miami-Dade industrial market saw a prolific year in 2019, followed by a healthy, yet slower first quarter in 2020. PortMiami’s record-shattering fiscal year 2019, with cargo operations posting 1.1 million twenty-foot equivalent units (TEUs) and cruise passengers totaling a world’s best 6.8 million passenger total, […]
636-Unit Self-Storage Property in Miami Trades JLL has arranged the sale of 21st Century Self Storage, a 636-unit facility in Miami. The 37,242-square-foot asset features climate-controlled units and 26 parking spaces. The building was originally constructed in the 1950s and was converted to self-storage in 2003. The building is located at 200 NW 79th Street […]
Fortune and Château score $119 million refi for Sunny Isles condo project Fortune International Group and Château Group scored $119 million in refinancing from Bank OZK for their planned La Playa de Varadero condo development in Sunny Isles Beach. The developers are planning to build two 56-story condo towers on the vacant site at 18801 […]
Homestead salmon farm reels in $210M construction loan An under-construction salmon farm in Homestead just reeled in $210 million in refinancing. Atlantic Sapphire secured the construction loan for the four-phased development at 22275 Southwest 272nd Street from DNB Bank, according to a spokesperson for Holland & Knight. Attorneys Alberto Hernandez and Elena Otero and associates […]
Retailers exposed: Who’s paying rent and who’s not As commercial landlords receive requests for rent relief, discerning whether the call for help is driven by hardship or strategy has been weighing on many. A new report titled “Who’s paying rent and who’s not” provides some insight. It documents which national retail and restaurant chains paid […]
Video: PwC Partner Mitch Roschelle Discusses Coronavirus Impact on Economy, Commercial Property The is significant and growing international concern with regard to the potential human and economic impact of coronavirus, also referred to as COVID-19. Mitch Roschelle, Partner withPricewaterhouseCoopers , joins America’s Commercial Real Estate Show to talk about how markets may react and in […]
Procacci sells two office buildings near Dolphin Mall for $29M Procacci Development Corp. sold two office buildings in Sweetwater for a combined price of $29.3 million. Boca Raton-based Procacci Development sold the buildings at 11430 Northwest 20th Street and 11410 Northwest 20th Street, near Dolphin Mall, to New York-based Innovatus Capital Partners, according to records. […]
Related, Shoma, PGIM sell Doral apartments for $100 million amid coronavirus pandemic The Related Group, Shoma Group and PGIM Real Estate Investors sold The Flats Apartments at CityPlace Doral for $100 million, marking the largest deal to close in South Florida during the coronavirus pandemic. Harbor Group International paid $330,000 per unit for the two-tower, […]
Mac Papers inks deal, sells warehouse near MIA for $15M A major paper supplier sold its warehouse near Miami International Airport for $14.6 million. Jacksonville-based Mac Papers sold the 137,872-square-foot warehouse at 5900 Northwest 176th Street in Miami for $105 per square foot, records show. Spirit Master Funding X LLC, tied to Dallas-based Spirit Realty […]
SoFla landlords, retailers brace for coronavirus impacts FroCommercial landlord Scott Sherman is trying to get ahead of potential losses and hardship South Florida retail tenants are facing. His Miami-based Tricera Capital is giving them the ability to defer rent payments for the near future, as bars and restaurants are forced to close and the fallout […]
