Feb 27, 2015 - 0 Comments - Top Stories -

Miami Commercial Real Estate News 2/27/2015

ph11NAI Miami Named NAI Global Member of the Year

The award recognizes NAI Global Member firms for their leadership within the network and commitment to the organization’s strategic vision, as well as performance and growth.

Rick Case Auto Moves to Sunrise, a mega-yacht facility called SeaVault could be coming to the Miami River…and more

A mega-yacht facility called SeaVault could be coming to the Miami River.  Rick Case Auto Group moves headquarters to Sunrise.  Key Biscayne seeks to immediately…

Palm Beach Gardens Azure development sells $40M in units

Azure, a 14-acre residential community in Palm Beach Gardens, has sold $40 million worth of condos, developer Frankel Enterprises announced Thursday.  Contracts have been signed for 30 of the 46 units made available during the first phase of development. These units will…

Panel debates North Beach’s potential for hotel development

Real estate professionals say Miami Beach may need to intensify its efforts to encourage hotel development in the city’s long-overlooked North Beach area.  “There’s no reason North Beach s…

Miramar shopping center sells for $6.1M

retail plaza in Miramar was purchased by a Miami Beach company for $6.1 million, or $457 per square foot, Marcus & Millichap announced Thursday.  The Shoppes at Monarch is a 13,466-square-foot property, at 12703 Miramar Parkway.  Manaca Monarch Center, a Miami Beach c…

Naples Hotel Group to develop new Miami International Airport Hotel

A Naples-based hotel management company signed a contract to develop a new hotel at Miami International Airport, developers announced on Thursday.  Naples Hotel Group, which currently has five projects in progress in Florida, will develop and manage…

Lease roundup: Coral Gables Sawgrass 1 warehouse complex sells out and Miramar Park expands

Sawgrass 1 at Prologis Park completely leased… A nearly 100,000-square-foot Coral Springs industrial complex, Sawgrass 1, is 100-percent leased after a car dealer leased the remaining 31,208 square feet, Cushman & Wakefield announced Thu…

County study recommends raising Miami Heat rent on vacant lot

A recent Miami-Dade County study recommends tripling the rent paid by the Miami Heat on a waterfront lot behind the AmericanAirlines Arena.  The Heat is reportedly pushing back against higher rent, which is estimated to generate an additional $150,000 annually for the coun…

Savvy Developers Moving North of Miami

With land prices escalating in Miami–and fewer parcels of developable land in strategic areas left to buy–savvy developers are moving north….

Coral Springs Shopping Center Bought, to be Repositioned

The Royal University Plaza shopping center here is under new ownership that will embark on a capital improvement and new leasing campaign geared at repositioning the University Drive property….