Oct 22, 2015 - 0 Comments - Top Stories -

Miami Commercial Real Estate News October 21, 2015

County aid is in fashion for NY couturier Khan

Workforce housing is so scarce that Miami commissioners are moving to defer development impact fees. A final vote today (10/22) would stimulate housing for workers vital to any community: police, firefighters, teachers, nurses and service workers.  In a city with skyrocketing housing costs, affordabi…

State won’t fund study to narrow US 1 downtown

A project by Miami’s Downtown Development Authority to narrow a stretch of Biscayne Boulevard from Northeast Eighth Street south to Biscayne Boulevard Way has hit a speed bump.  In July, the authority requested $1 million from the Florida Department of Transportation to fund a project development…

$600 million I-395 bridge to go to bidding

A state project designed to bring major improvements to I-395, including a new “signature” bridge, will be advertised for bids yet this year.  That’s the latest word from the Florida Department of Transportation, which says the project is on schedule, with construction expected to…

Flagler Street upgrade faces two hurdles

If all of the stars line up, shovels could be in the ground on the long-delayed Flagler Street renovation from Biscayne Boulevard to the Dade County Courthouse by year’s end. If a notice to proceed is issued tomorrow (10/23), work can begin within six weeks, city sources said.  Only two issues…

The great illusion: a soccer stadium up magician’s sleeve

Illusionist Harry Houdini would have applauded as county commissioners last week escaped outrage over funding another stadium by declaring that an Orange Sports Complex Community Redevelopment Area would be totally unrelated to sports complexes.  Bruno Barreiro stripped from his bid to create a tax…

Co-Working Franchise Comes to Aventura In $6 Million Lease Deal

The tenant is a joint venture between Centrum Partners of Chicago and The Pinnacle Companies of New Jersey. Pinnacle Centrum will be opening the location as a franchisee for Serendipity Labs.

Offices Planned Next To Riverside Hotel On Las Olas

Las Olas Place will feature 16,000 square feet of shops on the ground floor and 15,500 square feet of offices on the second.

City Commissioners to Vote On 4.2-Million-SF Miami River Development

The Miami City Commission this week will consider a proposal by a development group including Chetrit Group to build a massive mixed-use project along the Miami River totaling nearly 4.2 million square feet, including 1,678 condominium and apartment units and 330 hotel rooms.  The development would…

Jean Nouvel to Design 18-Story South Beach Condo Building

Welcome to the first column by veteran real estate reporter Alexei Barrionuevo, whose analyses on housing trends, real estate deals, and major business moves will appear weekly, right here on Curbed.  [The site of JDS Development Group and New Valley Realty’s planned condo building designed by Jean…

Hotel Indigo Miami Brickell Gets $34.5 Million Financing Deal

Hotel Indigo Miami Brickell, a concept by InterContinental Hotels Group (IHG), is coming along smoothly. Developer West Brickell Hotel LLC has closed on $34.5 million financing. Groundbreaking should happen this month.  A joint venture between Sunview Companies and…

Milk & Honey Event Space Opens a Blank Canvas in Wynwood

Milk & Honey, Wynwood’s newest event space with flexible outdoor and indoor options, opens as a new place to hold an affair to remember–just in time for the holidays.  Billed as a “space to create,” Milk & Honey capitalizes on its location in the arts district.

Miami Industrial Real Estate Market Report Third Quarter 2015

Summer markets are typically slow in Miami, however the Miami industrial real estate market experienced an increase in the average lease rate to $8.77 per sq. ft. and a decrease in vacancy to 4.7%. Over 3M sq. ft. has been absorbed this year with one more quarter to go. At this pace, we might break…

Will The Efforts To Rebrand West Kendall Gain Traction?

Miami-Dade Commissioner Zapata intends to herd West Kendall and a few adjacent neighborhoods into a new rebranded community.

OKO Group pays $48M to buy out Brickell area condo owners

A unit of OKO Group has paid nearly $48 million to buy out all the condominium unit owners in a building at the south end of Brickell, with plans to create a luxury condo tower, CBRE announced.  Miami Waterfront Ventures, a division of the OKO Group, acquired all the…

UM students develop smart technology ideas for Design District

One day Miami’s Design District may produce electricity using renewable energies, and have buildings adorned with rooftop gardens and structures that serve as indoor farms, with multiple levels of crops mixed with fresh markets and…

SoFla ranks seventh for global investment

South Florida is once again a rising star among the world’s top destinations for commercial real estate investments, with new interest from international buyers pouring cash into the region.  For the first time since the global…

Newly renovated Nautilus Hotel opens in Miami Beach

The Nautilus Hotel, a 1950’s Art Deco property along Collins Avenue in Miami Beach, is now open following an extensive restoration and renovation.  Nautilus, a SIXTY Hotel, was renovated by Quadrum Global and its…

Can South Florida Absorb New Hotel Inventory?

Are developers moving too fast?

Bank of America Center Shows Coral Springs’ Strength

The six-story office building went up for sale in June.

What’s Driving the ‘Remarkable’ Hotel Boom?

Hint: A string of factors is igniting the region as white hot.