Mar 07, 2017 - 0 Comments - Top Stories -

Miami Commercial Real Estate News March 7, 2017: Allapattah Emerging; Warehouse Sells for $26 Million; Chinatown Plans for North Miami; More

Conceptual plan for Chinatown in North Miami unveiled

Chinatown in North Miami? In a neighborhood with a nearly 75 percent black population, much of it Haitian, the city wants to turn a 16-block area into a district that will rival such well-known Chinatowns as those in New York, San Francisco and Los Angeles. A conceptual plan for the proposed project, created by Keith and Schnars, a Fort Lauderdale-based engineering consulting firm, was unveiled this week at a meeting at the Joe Celestin Community Center on the city’s west side. After the presentation, planners asked…

Allapattah — emerging neighborhood: ULI event

The alligators are long gone from Allapattah, but you can still see some of the statuesque Royal Palm trees that former Cuban President Gerardo Machado planted on his small plantation after he was exiled to Miami. Like much of Allapattah — which means alligator in the Seminole language – Machado’s home is now for sale and it’s listed at over $1 million, a sign of the times in one of Miami’s oldest neighborhoods that’s in the middle of a real estate boom. With investors who are priced out of Wynwood, and increasingly…

Time Out Market, a gourmet food hall, coming to Miami Beach

More dining options are in the works for Miami Beach residents and visitors near Lincoln Road, with Time Out Market, a gourmet food hall, opening soon. The city’s planning board on Tuesday approved a conditional use permit for 420 Lincoln Road Development LLC to operate a Time Out Market at 1601 Drexel Avenue, on the ground floor of a parking garage built in 2012, just around the corner from Lincoln Road. The building is owned by Paul Cejas, who moved to Miami from Cuba in the 1960s and founded one of the country’s…

Major P3 Real Estate Development Opportunities in Downtown Miami

On March 7, the Miami-Dade County Mayor will be presenting a report to the Board of County Commissioners on County-owned properties in downtown Miami that are ripe for joint development with the private sector. The upshot: the County has at least nine properties, totaling 22.7 acres of land, that…

Another New Office Building Just Announced For Coconut Grove

CocoWalk owners plan to raze the eastern building on Grand Avenue and Virginia Street and build a five-story, 73,000-square-foot Class A building on the site.

Slight slowdown, but no reason to panic

Less is more for Coco Chanel and her legion of followers, but when it comes to absorption of office and industrial real estate, significantly less can be a sign of something unfashionable happening in the commercial real estate market. Generally, South Florida’s office and industrial…

Miami is still ‘slated to be our 24th team,’ says MLS Commish

The progress for David Beckham’s Miami MLS franchise remains at a crawl Over three years since David Beckham announced his intent to bring an MLS franchise to Miami, and it would appear Miami Beckham United is making progress toward finalizing an investment to help fund their 25,000-seat stadium…

Prologis pays $26M for Miami warehouse near Opa-locka

Prologis just picked up a distribution warehouse at 12300 Northwest 32nd Avenue near Opa-locka for $25.75 million. Records show Futernick Associates sold the 343,553-square-foot building at 12300 Northwest 32nd Avenue in Miami to an affiliate of the San Francisco-based real estate investment trust. Future…

Fund mulling $4B WeWork investment is Saudi-backed: report

Saudi Arabia King Salman bin Abdulaziz and Adam Neumann. From the New York website: A Japanese fund reportedly in talks to invest up to $4 billion in WeWork is heavily backed by sovereign wealth from Saudi Arabia and other Middle Eastern countries, according to a new report. The Saudi government…

PS Business Parks Closes 108K SF Of February Lease Deals At Miami International Commerce Center

PS Business Parks’ leasing team at MICC closed 17 leasing transactions at the business park that features a unique portfolio of industrial, office and flex space.

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