May 20, 2015 - 0 Comments - Top Stories -

Miami Commercial Real Estate News May 20, 2015

Keyes Commercial Realtors / Realty / Real Estate | 2121 SW 3rd Avenue, Suite 300, Miami, FL 33129Pics of Marriott Marquis Miami Worldcenter Hotel to open fall 2018

MDM Group revealed the opening time-frame and a first look at Marriott Marquis Miami Worldcenter Hotel & Expo Center at a media event Tuesday.  The developer says the 1,800-room hotel will be delivered fall 2018 and generate more than $1 billion in local tax revenue over the next 30 years.  Additionally, the project is slated…

Skyrise observation tower reshapes bayfront

For the first time in many years, the Miami waterfront is changing its form.  You can thank developer Jeff Berkowitz, president of Berkowitz Development Group.  Workers are busy reshaping the area that shoots off the northern end of Bayfront Park to accommodate Mr. Berkowitz’s dream project: the 1,000-foot SkyRise Miami observation…

Miami Beach commission to vote on convention center hotel

After a nod from Miami Beach City Manager Jimmy Morales, the city commission will vote Wednesday on Portman Holdings’ proposed convention center hotel, The Real Deal has learned. Morales has added the convention center hotel item to the Miami Beach City Commission’s agenda: “a resolution accepting the recommendation…

Island Gardens scores loan from Dutch bank as Miami super yacht project begins

Flagstone Property Group secured a $22.67 million construction loan from a Dutch bank as it began work on the super yacht marina portion of its Island Gardens project in Miami.  Located on city-leased land on Watson Island between downtown and Miami Beach, the first phase of Island Gardens would have a marina to accommodate…

Skanska Selected to Lead Renovation at Chris Evert Children’s Hospital

Skanska USA has been selected to lead a major renovation at Broward Health Medical Center that will see new state-of-the-art facilities at the Chris Evert Children’s Hospital in Fort Lauderdale, FL.  The plan includes 102,000 square feet of inpatient and outpatient areas across multiple floors and…

South Florida Sea Level Rise: Interactive Tool, Related Resources, Videos

There is an increasing amount of talk about rising sea levels in Miami and other low-lying coast areas. Use this interactive tool to gauge the effect of a one foot rise in an area you choose. Note that the report that has everyone talking projects sea levels rising by 1 to 4 feet by 2100.

Paving Over Parcel B: Parcel B, the empty plot…

Parcel B, the empty plot of land behind the AmericanAirlines Arena that was always promised to Miamians as the site of a future public park, has more asphalt covering it than ever. What used to be a green, if weed-covered, spit of waterfront, is now a strip of blacktop.

Bus factory site hunt in high gear

Plans are moving ahead for two Turkish brothers who plan to open a bus manufacturing facility in Miami-Dade County.  In March, Claude and Jan Nahum of Karsan U.S.A. announced their ambition of establishing a plant to build cost-efficient, eco-friendly buses.  Their introduction into the area’s industrial scene might…

Video: $5.25 Billion Panama Canal Expansion Will Benefit Port of Miami Economy

This video discusses a major update to the Panama Canal, due for completion in 2016, that will allow the world’s biggest ships to use the canal. This is anticipated to be a boost to the Port of Miami, and in turn the Miami area. Commercial real estate in the area likely will benefit from the increased commerce.

Parking Palaces: This is What Wynwood’s Artsy New Garage Will Look Like

Goldman Properties sent over renderings of the new parking garage that they are planning for Wynwood, on a corner lot at 301 NW 26th Street. The facade design, by architect Thomas Faulders of Faulders Studio, consists of organically shaped panels outlined by screened apertures that look into the…

Curbed Maps: And Now an Update to the Curbed Miami Public Art Map

Public art is to Miami what fire escapes are to New York or bright red phone booths are to London, a lovable and enduring part of the cityscape. From the Design District’s growing collection of goodies to oldies like the giant red ‘M’ outside a Metromover station in Downtown…

Massive Miami Worldcenter Project Slated For Groundbreaking After City’s OK

The project will introduce a mall, several residential towers and a convention center hotel on 27 acres of the Overtown neighborhood on the north side of the central business district.

Las Olas City Centre 100 percent leased

Nearly 120,000 square feet in new leases and renewals brings the Bank of America Plaza at Las Olas City Centre to 100 percent leased, according to Stiles Realty.  Early renewals accounted for 80 percent of the leases, Stiles Director of Leasing Norm Adams said…

County won’t seek full rent on land at arena

Miami-Dade won’t collect what an appraisal says is 187% more than it now does on four waterfront acres behind American Airlines Arena. Commissioners were to raise fees Tuesday to do business on the county-owned site called Parcel B, but a number of commissioners voted no, saying that didn’t set a lower non-profit rate.

Watson Island developer obtains $23M loan

Mehmet Bayraktar, the developer behind the planned mixed-use development on Miami’s Watson Island, obtained financing for his $1 billion project.  Bayraktar received a $22.67 million mortgage from Demir-Halk Bank, based in the Netherlands, on May 11, according to…

Courthouse partnership deal advancing

Miami-Dade County officials who have been analyzing the best options for a new civil courthouse now await guidance on public-private partnerships as well as a long-range master plan update of the historic building’s needs.  The county solicited legal and financial advisory services pertaining to public-private partnerships…

Historic designation of Surfside condo building overturned


In a decision that could have broad implications for developers, preservationists and residents of historic structures in Miami Dade County, the Miami-Dade County Commission on Tuesday granted an appeal to overturn the historic designation of the Seaside Terrace Condominium…

Alliance Residential takes out $38M loan on Broward site

Alliance Residential, one of the largest apartment builders in the United States, just inked a $37.7 million mortgage on its newly built rental community in Coconut Creek.  The Broadstone Cypress Hammocks complex is a 24-acre development at 5201 West…

South Florida presale condo prices fall in latest survey

As the South Florida preconstruction condo market shows signs of slowing, the minimum asking price for new units being marketed east of I-95 in the tri-county region during this current cycle has decreased by $6 per square foot on a month-over-month basis in Miami-Dade…

$750M Miami Worldcenter Hotel & Expo unveiled

More than 600,000 square feet of meeting and convention space, 1,800 hotel rooms and $750 million. Developers MDM Group, architects and community partners gathered on Tuesday to reveal plans for the Marriott Marquis…

Brickell City Centre Video: Swire Properties – with related links

This well produced video gives one a good idea of what this project will be like once completed. Beautiful.