Mar 30, 2017 - 0 Comments - Top Stories -

Miami Commercial Property News March 30, 2017: Wynwood Square Site Hits Market; More…

Proposed Wynwood Square site hits the market, could fetch upwards of $30 million

The developer of the proposed Wynwood Square mixed-use project has put the site on the market rather than proceed with building it, The Real Deal has learned. Jeronimo Hirschfeld, founder and CEO of Miami-based One Real Estate Investment, planned the 12-story Wynwood Square at 2201 North Miami Avenue to have 241 apartments, 60,290 square feet of office space, 27,212 square feet of retail, and 481 parking spaces. “My take in the beginning was to develop it, but I have created a lot of value…,” Hirschfeld…

Vacation rental bill advances over Miami-Dade, beach cities’ objections

Despite opposition from Miami and Miami-Dade and a group of beach communities, a Florida House subcommittee on Tuesday passed a bill that prevents cities and counties from passing any new ordinances that restrict vacation rentals of private homes. The 9 to 6 vote by the Careers & Competition Subcommittee sends the controversial bill to the 30-member Commerce Committee, which is top heavy with lawmakers from South Florida where opposition to short-term vacation rentals has been most intense. The bill…

Spat over law firm delays City of Miami multi-million-dollar deal

A multi-million-dollar deal to gain new offices for the City of Miami and open choice riverfront downtown to private development has been delayed. It involves the lease or sale of the city’s riverfront offices – requiring voter approval – and any hope of having the deal ready for November’s ballot may be lost, said City Manager Daniel Alfonso. Last week the city commission refused to hire law firm Shutts & Bowen as special real estate counsel to work in consultation with the city attorney on the sale/lease of the Miami Riverside…

The Keys To Implementing An Effective Surveillance System

Whether you have a surveillance system in place or are looking to develop a new one, the world of cameras and security equipment can be daunting to those who aren’t experts in the industry. When working properly, a surveillance system can improve your response to crimes or other issues that arise. “If an organization has an on-site security force and a security monitoring center, a camera system can be used to leverage their capabilities,” says Michael Silva, Principal at Silva Consultant…

Miami Beach’s latest food hall, The Lincoln Eatery, unveils renderings

Featuring a rooftop deck Food halls continue to sprout across Miami, with the latest being The Lincoln Eatery, a Terranova project opening at 723 Lincoln Lane (aerial) in South Beach, just off Lincoln Road. Expected to debut Fall 2018, the building is already anchored by Marshalls on the upper floors. The open culinary concept will focus on fast and affordable dining options within spaces ranging in size from 119 to 500 square feet at ground level and a rooftop terrace with nearly 5,000 square feet of…

Florida questionably ranks 17th among ‘best states to retire’

Huh? Florida is not the best state to retire, or even among the Top 15, according to a study by Bankrate. The methodology used was cost of living, weather, health care quality, crime, tax, culture, seniors (prevalence of other seniors), and well-being. Somehow, Florida ranked 17th overall, questionably placing 18th in weather, the latter due to high air conditioning bills and a “relatively small number of clear days.” Florida fared especially poor in Crime (39th). New Hampshire topped the…

Trump presidency to have a positive impact on SoFla real estate investment: panel

As Donald Trump inches closer to his 100th day in office, the pivotal moment most U.S. presidents are judged as to whether their agendas are moving forward, the commander-in-chief remains mired in a never-ending storm of controversy. Yet, having the New York billionaire developer at the country’s helm will only bode well for South Florida’s real estate market in the next four years, real estate panelists said on Wednesday…

Thor Equities leases Lincoln Road spots to Steve Madden, Haagen-Dazs

Thor Equities has signed leases with Steve Madden and Haagen-Dazs for two adjacent spaces on Lincoln Road, bringing its holdings on the pedestrian promenade to fully leased, The Real Deal has learned. Steve Madden is taking 2,300 square feet at 663 Lincoln Road and Haagen-Dazs will be next door, with 1,000 square feet at 665 Lincoln Road, according to a New York-based Thor Equities spokesperson. Asking rents for both spaces were $300, the spokesperson…

Bayview Financial Renews 88,000-SF Lease in Coral Gables

Bayview Financial, a full-service mortgage finance company, renewed its lease for 88,047 square feet in the office building at 4425 Ponce De Leon Boulevard in Coral Gables, FL. The six-story The VIllage of Merrick Park building totals 135,000 square feet. Rouse Coral Gables LLC developed the property in 2002, at which time Bayview initially leased approximately 52,000 square feet of office space there. Matthew Cheezem of JLL represented the tenant……

Boats Group Sailing Into Miami Office Space at 1221 Brickell

Boats Group, a global leader in boat sales, has signed a 16,529-square-foot office lease at 1221 Brickell Ave. in the heart of downtown Miami, FL. The 27-story 408,423-square-foot, 4-Star office building was built in 1986 on 2.1 acres in the financial district of Miami/Dade County’s Brickell submarket. Dale Karrh with Newmark Grubb Knight Frank represented the tenant. Eric Groffman and Josh Gibbons with JLL represented the landlord, Equity…

Having More than Halved Since 2009, Miami-Dade Unemployment Rate Extends Decline

Miami-Dade County, Florida, Unemployment Rate 1990 to 2017. The unemployment rate in the Florida county of Miami-Dade County continued its steady decline that began in late 2009. Since its peak in August of that year, the unemployment rate has more than halved from 12.4% to 5.1% at the end of 2016 (January 1, 2017). The extent of this improvement can be appreciated in the accompanying chart (Unemployment Rate in Miami-Dade County, Florida for the period January 1, 1990 to January 1, 2017…