Jul 31, 2015 - 0 Comments - Top Stories -

Miami Commercial Real Estate News July 31, 2015

MiamiMiami Beach grants first approval to create 800-room convention hotel

Miami Beach’s city commission approved the first reading of a lease that would create a 800-room convention center hotel.  The city has been seeking to build a hotel to complement the Miami Beach Convention Center for decades. The region’s largest convention center is undergoing $500 million in renovations to handle more business…

Two shopping centers proposed in Doral

A Coral Gables-based investment group wants to build two shopping centers on the edge of the Trump National Doral Miami golf course.  Both items are set to go before the city council on Aug. 5.  In the first application, 97 Property wants to build a 50,085-square-foot shopping center at the southeast corner of Northwest 58th Street…

Demolition Begins At Worldcenter; Paramount Sells Another 77 Units

Miami Worldcenter developers have started demolition work, with groundbreaking on the project said to be coming soon.  Demolition crews were working on the former Mekka nightclub yesterday. Other structures on the property are also about to be bulldozed.  The first phase will include The Mall at Miami Worldcenter, the Paramount…

$750 Million Marriott Expo Center Delayed By Grand Central Park Trees

A project that could eventually add billions to Miami’s economy, delayed by a few trees?  Construction at MDM Development’s $750 million Marriott Marquis Miami Worldcenter Hotel & Expo has been delayed by the presence of trees that were planted on the site just a few years ago, TNM has learned.  The trees were planted as part…

NorthStar buys three Marriott-branded hotels in Miami from Thayer Lodging

An affiliate of NorthStar Asset Management bought three Marriott-branded hotels near Miami International Airport from Thayer Lodging Group.  The deal covers the 366-room Miami Airport Marriott, the 300-room Courtyard by Marriott and the 160-room Residence Inn. They are located at 1201 N.W. LeJeune Road and total 532,864…

Downtown Miami Office Tower Completes $15 Million Reno

Architecture firm RTKL’s design team transformed the lobby and added 8,000 square feet of new amenity space.

Bridge Development Acquires Land for Business Park Expansion

Chicago-based Bridge Development Partners has purchased 20 acres at NW 107th Avenue and NW 109th Avenue just north of NW 138th Street in Hialeah Gardens, FL, for expansion of the Bridge Point Crossroads industrial park.  This site is part of a larger 65-acre assemblage in Hialeah Gardens which…

Development Update: Related Reveals a Few Renderings, Floorplans, Totally Fake Dens, for Gran Paraiso

The Related Group has revealed renderings… okay, just a few renderings… floorplans, etc. of Gran Paraiso, its most expensive and fanciest of all the towers in the Paraiso Bay megaproject. Arquitectonica is designing the building, and laying out the units, so they might be the…

Vote for Your Favorite South Florida Buildings With the AIA

The Florida Chapter of the American Institute of Architects is holding its Second Annual People’s Choice Awards for your favorite buildings in Florida and wants your votes from a random assortment of dozens of buildings, fourteen of which are from South Florida, or you can submit your own. The…

In the rezone: It May Finally be Easier to Build Small Infill Buildings in Miami

In the City of Miami’s current real estate climate, building large scale projects is significantly easier than smaller developments due to parking requirements in the zoning code, practically eliminating smaller developers from the game. Somebody who may want to built five or ten residential units…

Construction Watch: The Venetian Causeway Has Already Been Taken Apart

The reconstruction and repair of the historic Venetian Causeway appears to be at full steam, according to photos taken of the work by Miami Flickr stalwart Phillip Pessar on July 19th. Construction equipment on barges have already taken apart the superstructure of a…

Retail Expansion Fueling Demand For New Net Lease Assets

Scattered retail expansion in Q2 of this year continued due to low interest rates and persistent consumer demand. Nationally, retailers continue to expand, re-tool their business models and test new markets. This, according to at least one market researcher…

Equity One Buys Out Interest In Three Miami Retail Centers, Profits Up

The North Miami Beach- and New York-based retail REIT acquired full ownership of the Concord Shopping Plaza, the Shoppes of Sunset and the Shoppes of Sunset II.

Matt Sherman unloads would-be jugofresh site in MiMo

 

Jugofresh owner Matthew Sherman has sold the Biscayne Boulevard site in MiMo that he had planned to redevelop for a new shop, The Real Deal has learned.  Sherman sold the building, at 7501 Biscayne Boulevard in…

Exciting times in Fort Lauderdale, firm reports

Realtors and developers have been saying for months that Fort Lauderdale is coming into its own as a rival of Miami’s booming real estate market. Now, One Sotheby’s International Realty has released a mid-year…

Apollo Group buys Miami warehouse for $15M

 

The Apollo Group, a Miami-based cruise ship food, catering and logistics company, has paid $15 million for an industrial warehouse in unincorporated Miami-Dade, county records show.  Apollo acquired the 213,131-square-foot building…

Horacio LeDon quits Douglas Elliman job

Top broker and Miami native Horacio LeDon, president of Douglas Elliman Development Marketing for Florida and California, announced his resignation today, The Real Deal has learned.  After a 13-year career selling billions of dollars in new development deals in New York, Miami and Los Angeles…

Hollywood hotel fetches $12.5M

A small assembly of properties in Hollywood, including a Ramada Inn, was just sold for $12.5 million, according to Broward property records.  The seller was a local company titled Hollywood Harrison Development, managed by Benjamin Cohen. He…..

What’s Driving Chinese Investors to Miami?

“Chinese investors who are buying US real estate are doing it with a very long-term view…”