The American “Wet” Dream Mall Miami Project. What do CEO’s in Miami Think?
What do Miami Dade County CEO’s think of the new American Wet Dream Mall proposed for the Miami Dade County/Broward line? A portion of our public land was just approved in the State Legislature to be given to that zany Persian-Canadian family — the Ghermezian — who are going to put submarines in…
Downtown condo rents may have peaked
Brokers say condo rental rates in Brickell and downtown are largely the same as six months ago and expect they will remain so or even trend down a bit as new units come on line. The market is strong with a high concentration of young professionals ages 30 to 40 renting in this part of the city, said Jonathan Garcia, broker for ONE Sotheby’s International Realty.
Starchitecture Watch: A Slightly Closer Look at Rafael Viñoly’s Miami River Tower(s)
Plans for starchitect Rafael Viñoly’s Miami River tower have been officially submitted to the City of Miami Planning Department by the developer, Kar Properties, reports the Next MIami. The design is basically two rectangular towers placed at ninety degree angles to each other and…
Construction Continues On Island Gardens, The Only Super-Yacht Marina In North America
Despite lawsuits by opponents of the project, construction is proceeding on the Island Gardens super-yacht marina on Watson Island. In a press release last week, Technomarine USA, a marina construction company, said that it had been awarded a $12 million contract to build the marina. The total construction cost of the marina is estimated…
Latin American buyers pick up West Grove site for 10x last sale price
Sleeping Around: Miami is the Heart of the Funky ‘Lifestyle Motel’ Craze
Two of Miami’s restored mid-century mod motels on Biscayne Boulevard, The Vagabond Motel and The New Yorker Boutique Hotel, are prime examples of the “emerging lifestyle motel segment…for consumers seeking vintage style, indie personality, low rates and close…
Nothin’ but net: The big new Nike Store…
The big new Nike Store planned for Lincoln Road just received anonymous approval by the Miami Beach Historic Preservation Board, rooftop basketball court and all. Designed by Touzet Studio, the front of the facade will be sheathed in a concrete screen – not metallic mesh, like we previously thought…
Construction Watch: Downtown Miami’s 36-story Met 3 Residential Tower Tops Off
Met 3, a.k.a. Monarc at Met 3, a.k.a. that 32-story residential rental tower being built on top of the already-open Whole Foods Market in Downtown Miami, has topped off, according to its general contractor, Suffolk Construction. So, if a Downtown yuppie on her way to buy some fresh kale were to…
Theme park sets sights on Coast Guard land
County officials are studying sites where US Coast Guard operations could move to make way for a theme park in South Miami-Dade. “We have a lot of work to do to come up with the best strategies for addressing the Coast Guard’s needs,” Senior Advisor to the Mayor Michael Spring said.
11 new downtown hotels will nearly double rooms
If all are built as planned, 11 new hotels going up in Miami’s central business district over the next three years will nearly double the number of hotel rooms – from the current 3,632 to 6,640. Of these, the largest, and also furthest out from delivery, is the Marriott Marquis adjacent to the Miami Worldcenter complex in the Park West district.
Thor Equities buying big in Wynwood: nearly a square block for $29M
Tiger Woods will move his headquarters to Jupiter
Famous and infamous golf superstar Tiger Woods is reportedly opening his international headquarters in Jupiter this summer. Woods signed a lease for his company, Tiger Woods Design, at the Harbourside Place entertainment complex, a publication reported. The company…
Jugofresh to make a splash in Coral Gables
Jugofresh, the local juice, smoothie and vegan foods brand, is opening its Coral Gables store in early May.
The 975-square-foot shop is at 2516 Ponce de Leon Boulevard is the sixth jugofresh, according to a press release. Other locations include Sunset Harbour, South…
Miami Beach’s Raleigh Hotel set to begin renovations
Homebuilder exec nabs 14-acre site along Okeechobee Boulevard
A company tied to an Ansca Homes executive paid $7.2 million for a 14-acre vacant site in West Palm Beach, The Real Deal has learned. Ansca’s Charles M. Scardina Jr. acquired the site, which is next door to Land Rover Palm Beach…
State OKs land deal for American Dream mega-mall
Developer Triple Five’s dream of bringing the largest mall in the nation to Miami is one step closer to being reality.
Gov. Rick Scott and the four-member Cabinet voted unanimously on Tuesday to approve the deal, which would allow the developer to purchase…
Miami Beach Nike goes retro Deco
It’s not every day that the Miami Beach Historic Preservation Board endorses the demolition of a building on the city’s pedestrian-only retail juggernaut, Lincoln Road, but Nike is not your average retailer. Nike’s plans to demolish…
Could Hollywood be the Next South Beach Destination?
In the new wave of condo development, we’re seeing some interesting twists. One developer is looking to push Hollywood to South Beach entertainment status….
Newgard Still Betting on Foreign Condo Buyers
Despite fewer Latin America buyers, Newgard is betting international investors will still take interest in its latest condo project….
Developer proposes 32-story condo in Fort Lauderdale
A developer wants to build a 32-story condo tower near downtown Fort Lauderdale. Third Avenue Development, an affiliate of Sunny Isles Beach-based Taho Group, proposed constructing 217 condos and 3,200 square feet of restaurant space at 401 N.E. 3rd Ave., which is just north of downtown and west of the Flagler Village area.
CRE Prices Continue Advance Across More Markets and Building Types
Continuing the broad recovery across all property types and throughout most U.S. markets, commercial real estate prices again moved upward in February, reflecting solid occupier demand as well as widening investor interest in smaller properties outside the largest U.S. metros.
Sovereign Wealth Funds Continue to Ramp Up Property Allocations
The proportion of global sovereign wealth funds (SWFs) allocating capital to commercial real estate rose from 54% in 2013 to 59% last year, despite the fall in price of oil, a major capital source for funds in the Middle East, Asia and Europe, according to a new report by London-based Prequin.
Wells Fargo Is King of the Hill in CRE Lending Playground
Wells Fargo & Co. escorted one of its bigger competitors out of the $400 billion U.S. commercial real estate lending market this past week after the San Francisco-based bank and The Blackstone Group teamed up to purchase most of the assets of GE Capital Real Estate in a global transaction valued at $23 billion.