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Miami Commercial Real Estate News | March 25, 2015

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Fun with urban planning: Miami Beach Really Wants to Revamp Washington Avenue

A push to initiate an urban transformation for Washington Avenue is in the works. Interested parties are voicing their concerns to end the widely used avenue’s fall into what many consider to be disrepair and tawdriness, with its tacky tourist t-shirt shops and a…

Sleeping Around: After its mucho mucho renovation,…

After its mucho mucho renovation, and the inevitable delays, the 1 Hotel & Homes South Beach will open for business tomorrow, with some local dignitaries on hand and an ‘unveiling’ of the hotel’s “1” coral stone sculpture (which has been visible for weeks by anyone passing by). The interiors, so…

Railroading: Finally, Tri-Rail Coming to the MIC “In The Coming Weeks”

Well folks, it’s been years, and finally Tri-Rail will be coming to the ‘Miami Central Station’ portion of the Miami Intermodal Center “in the coming weeks” tweets Tri-Rail, marking the completion of the transit hub. This will give Tri-Rail users direct access to Miami…

Wynwood Land Sells For $15M — A Fivefold Increase In Three Years

A 78,050-square-foot lot at 2201/2245 North Miami Avenue sold Monday to One Real Estate Investment for $192 per square foot–more proof of rising prices in Wynwood…

New stores to open at the Colonnade Outlets at Sawgrass Mills

Several first-in-market outlet stores will soon open at the Colonnade Outlets at Sawgrass Mills, as the Sunrise shopping center continues its expansion.  Sawgrass Mills, which has more than 350 stores and restaurants, said new to market outlet locations to open include Ted Baker…

New York-based investors buy another property in red-hot Wynwood

151 Northwest 24th Street in Wynwood, Dan Arev, Jon Krasner and Chaim Cahane.  Amid surging interest in Wynwood, a group of New Yorkers has bought another commercial property in the burgeoning Miami neighborhood, The Real Deal has learned.  Jameson Realty Group and Yellow Side Ventures paid $3.05…

100 new condo towers now under construction in South Florida

Some four years into this current real estate cycle, developers now have at least 100 new condo towers under construction east of I-95 in the tri-county South Florida region.  The 100 towers categorized as under construction are slated to result in more…

Corcoran sues Compass for “brazenly” raiding its talent pool

From the New York website: The Corcoran Group, which has been hemorrhaging agents to startup brokerage Compass in recent months, slammed the rival brokerage with a lawsuit alleging it “brazenly and intentionally” r…

H&M to open in Boynton Beach Mall

Popular fashion retailer H&M is gearing up to open a store at the Boynton Beach Mall.  The 19,000-square-foot location will open this fall and include subsections for maternity, lingerie, sports apparel and a plus-size line of clothing, a publication reported.  The mall…

LeFrak, Starwood’s 1 Hotel South Beach to open Wednesday

1 Hotel, the 426-room joint venture between Starwood Capital Group’s Barry Sternlicht and developer Richard LeFrak, opens Wednesday.  Developers, Miami Beach Mayor Philip Levine and celebrity restaurateur Tom Colicchio will attend the opening, which will…

Interest rates rising? Better refinance now, developers say

Amid uncertainty about the Federal Reserve’s timetable for raising interest rates, the first three months of 2015 has seen a flurry of refinancing deals involving some signature projects in Miami-Dade County.  In January, Agave…

Sunny Isles Condo Wins $137M Construction Loan

“Many condo projects are in the planning stages in Miami but not all of them will be able to secure construction financing,” attorney Luis Flores tells….

Office Guide 2015

They’re already trophy buildings, but some of South Florida’s Class A office towers are getting mulitimillion-dollar upgrades as investors compete for wealthy tenants. Plus, the South Florida office market is tightening and Brickell construction sets the bar high.     …

Chinese Drywall Found in 25 Condos at 500 Brickell

Although I have found a few discrepancies in the exact amount of condo units that have Chinese drywall (some say 26, some say 28), a source at the 500 Brickell condo management office has confirmed that 25 condos in the east tower and ZERO condos in the west tower of 500 Brickell have Chinese drywall.

Mekka Nightclub Cloing: WMC, WorldCenter Construction to Blame

Mekka, the long-standing Park West nightclub, will close its doors after Winter Music Conference 2015. Owner Michael Slyder confirmed the news to New Times this morning via email, saying, “Our landlord, Miami Worldcenter, is set to begin construction in April or May, and our building, along with many others, will be demolished.”

JLL Named to Fortune Magazine’s 2015 Most Admired Companies List

JLL has been named to FORTUNE magazine’s 2015 Most Admired Companies list. FORTUNE and global management consulting firm Hay Group survey top executives, directors and financial analysts each year to compile the list of companies that enjoy the strongest reputations within and across…

Braman Motor Cars seeks approval for Porsche, Bentley dealership in West Palm Beach

Braman Motor Cars has applied to redevelop a 10.58-acre site into a dealership with five buildings and multiple brands including Audi, Porsche, Bentley, Rolls-Royce and Mini.