Large industrial building planned on newly acquired Miami-Dade site

Ridge Development plans to build a 182,057-square-foot industrial distribution facility on a site it recently acquired in Medley.  Langer Holdings Corp. sold the 9.75-acre site for $5.3 million to Ridge Medley Partners, an affiliate of Ridge Development, the industrial property arm of Transwestern Development Co. Transwestern Senior…

Wynwood Property Owners And Developers Band Together To Voluntarily Control Development

The group has crafted a comprehensive zoning plan that its members say will encourage preservation of Wynwood’s characteristic warehouses and funky vibe.

Miami considers multifamily project on Coral Way

The city of Miami commission will consider a 61-unit residential project in the Shenandoah neighborhood on Thursday.  The 8-story building with a 3-story parking deck would be located at 2240 S.W. 13th Ave. and 1300 to 1312 S.W. 22nd Street (Coral Way). The area is just south of Little Havana and north of Coconut Grove.

Miami Industrial Land Sale Garners Premium Pricing In Red Hot Market

The buyer, an affiliate of Chicago-based Ridge Development, is planning 175,000 square feet of spec industrial warehousing on the site.

Columbus Properties Sells Office, Garage for $32M

Columbus Properties, Inc. sold the 12-story office building at 155 S. Miami Ave. and the Watts Parking Garage at 26 SE. 1st St. in Miami, FL to Moishe Mana for $32 million.  The 160,712-square-foot office building was constructed in 1980 and is currently more than 50 percent vacant. The Watts…

Century 21 Dept Stores Acquires Miami Retail Bldg

ASG Equities, on behalf of Century 21 Deparmtnet Stores, acquired the retail building at 70-74 NE 40th St. in Miami’s design district for $14.6 million, or about $3,200 per square foot.  The single-story, 4,530-square-foot storefront property has been recently remodeled from a class C…

Grand Beach Apts Sell for $27.2M

FIP Realty Services LLC sold the Grand Beach Apartments at 7780-7810 Tatum Waterway Dr. in Miami Beach, FL to YTECH International for $27.15 million, or about $151,000 per door.  Built in 1948, the multifamily community totals 151,106 square feet across 20 buildings on 3.8 acres. The property has…

FAA is Considering Raising its Hated Downtown Miami Height Restrictions, by About 40 Feet

Reaction on pressure from developers wanting to build taller in Downtown Miami and Brickell, the Federal Aviation Administration is looking into raising the max heights of buildings in and around Miami’s urban core—a height limit it imposes to keep the flight paths in and out of Miami International…

Comment of the day: “If you’ve seen renders for CityPlace…

“If you’ve seen renders for CityPlace Doral and how ugly it looks, anybody would be grateful for another boring work by Zyscovich. I’m not too sure about the height. While I like that the Midtown East project coordinates with the overall lower density of the area between the FEC Railway and closer…

Fort Lauderdale Real Estate market Is Booming

Ten new condo buildings with more than 100 units have been announced for the Las Olas Isles neighborhood located between the Downtown Fort Lauderdale mainland and the barrier island beaches – In the Downtown Fort Lauderdale and Beach market, developers have announced plans to construct at…

Mexican Hospitality extends its operations in Miami

The Grupo Posadas Company has been able to strike a new deal in its efforts to establish an affiliate branch in Miami. The Company is a Mexican hotel operator that…

Inside look: New renderings of the Gale Fort Lauderdale

Developers released new renderings of the $120 million Gale Hotel & Residences Fort Lauderdale Beach on Wednesday, designed by Miami Beach-based Urban Robot Associates.  Newgard Development Group, Menin…

Miami home sales in June set 10-year record

Home sales in Miami scored a small victory last month, setting a new volume record for the past 10 years.
June saw a total of 1,390 homes sold in the Miami market, an increase of 8.6 percent year-over year, and an increase of 80 homes from the previous record that was set in…

Chatham Lodging REIT sets sights on Fort Lauderdale hotel

The Chatham Lodging Trust is picking up two hotels for $55 million, one of which is in Fort Lauderdale, the real estate investment trust announced on Tuesday.  The REIT is under contract to buy the Residence Inn Fort Lauderdale…

Hughes Supply leases 40,000 sf in Doral

A wholesale plumbing supplier signed a lease for 40,000 square feet at MICC in Miami-Dade, The Real Deal has learned.  Hughes Supply signed the longterm lease at the Doral corporate park, which is owned and managed by PS Business Parks.

Beckham: “We can build a world-class stadium” at Orange Bowl site

David Beckham made it official today: He wants to build a soccer stadium next to Marlins Park near the site of the old Orange Bowl. In a letter sent to Mayor Tomas Regalado, Beckham and his partners pledge a “world-class stadium” on the site — while offering scant few specifics on exactly what they’re plotting.

Chinese annual investment in CRE swells to record $10B

Rendering of 111 Murray Street (credit: Kohn Pedersen Fox) and 717 Fifth Avenue (inset: Chinese flag)
From the New York website: Over the past four years, outbound commercial real estate investment from China has increased 72 percent to $10 billion in 2014, with cities in the United States…

Château buys Collins Avenue apartments in Surfside

The Château Group has added to its Surfside holdings with the $5.15 million purchase of an apartment building on Collins Avenue, Miami-Dade County records show.  Hialeah-based Grand Futura Properties sold the 15,000-square-foot property…

All Aboard seen as boost for downtown West Palm

All Aboard Florida’s South Florida high-speed passenger train line, scheduled to open in 2017, should help lift the downtown West Palm Beach real estate market, local property professionals told The Real Deal.

Condo Developers Compete With Wild Amenities

Glitz and glamor are nothing new to Miami. But some of the condo amenities are well over the top in this cycle.

Developer Singh wants to build 199-unit resort on Knights Key

One of the most successful developers in the Florida Keys is looking to build a luxury destination spot at the site of the Knights Key RV Resort and Marina.  Pritam Singh, who built Tranquility Bay Resort and Indigo Reef Marina Homes in Marathon and Truman Annex in Key West, among many others, wants to convert the RV park…

Seas could rise ten feet in next 50 years, famed climate scientist warns

The latest doom-and-gloom climate change prediction has arrived this week — and it’s a doozy. The study, written by alarmist (yet reputable and regularly correct) climate change scientist James Hansen predicts that sea levels will rise ten feet in the next 50 years.  That seems like a lot, especially when many of the 2.4 million people…

South Florida’s hotel market entered slow season in June, report says

South Florida’s hotel market tends to slump with fewer heads in beds during the summer months, and this summer started out no different, according to the data from STR, Inc.  The independent research company’s numbers indicate that business will start to pick up in October for hotels in the tri-county area, with January through…

CRE in a bubble?  Here’s what 13 top economists think

Commercial real estate prices are through the roof, and now the Fed has voiced concerns over a potential bubble. But has it formed yet? We reached out to some of the country’s top economists to get their take. Here’s what they told us.

After cashing out in Design District, developer buys Midtown Miami building for $10M

Giampiero Di Persia’s Tirrenia Developments came away with a $20 million profit after selling a building it constructed in the Miami Design District earlier this year and now it’s invested some of those proceeds in a property in Midtown.  New Midtown Studios 55 LLC, a Miami-based company managed by Gino Tozzi, sold the property…

Board Defers Decision On Liquid Lofts And One Brickell Until October

Miami’s Planning, Zoning and Appeals Board deferred decisions on two major projects at a meeting last week:  One Brickell (444 Brickell) – the association of neighboring condo tower 500 Brickell had appealed the city’s decision to approve the project, saying that it was too big and intense.  Liquid Lofts – architect Charles Sieger…

South Florida home and condo sales post solid gains in June

Homebuyers ramped up their activity in South Florida this summer as both sales volume and prices grew in June, according to the Florida Realtors.  There were 5,017 sales of existing single-family homes in the tri-county region, up 15.6 percent from June 2014. The median sales price climbed 7.3 percent to $295,000.  The statewide…

Transit team told ‘Think small’

While many grand plans – and ways to pay for them – were discussed at Monday’s Fiscal Priorities Committee meeting of Miami-Dade’s Metropolitan Planning Organization (MPO), one member asked the committee to think small.  “Let’s look at our mistakes,” said…

State may pay to narrow boulevard

Miami’s Downtown Development Authority has requested $1 million from the Florida Department of Transportation to kick-start Biscayne Green, its ambitious project to narrow a stretch of Biscayne Boulevard from Northeast Eighth Street south to Biscayne Boulevard Way.  Biscayne Green aims to reduce…

Dredging up funds to clean pollution

The clean-up of a contaminated tributary of the Miami River is one step closer after action by Miami city commissioners.  In January, commissioners approved the Wagner Creek/Seybold Canal Dredging Restoration.
On July 9, they wrapped up paperwork to get a nearly $23 million loan from the state to…

FYI Miami: July 23, 2015

SAFE PASSAGE: County crews last week began five months of road resurfacing and bike lane-widening along Crandon Boulevard between Bear Cut Bridge and the Village of Key Biscayne. The new bike lanes, to be painted bright green, will be separated from auto traffic by a 2-foot-wide striped buffer zone…

Just because there’s money, you don’t have to spend it all

Miami-Dade aims to spend every cent of a tax windfall while patting itself on the back for not raising taxes.
Instead, the county is hailing all the good things that everything it’s adding to spending next year will do – including erasing some past budget cuts.  That’s all possible…

$23 Million Sale Of Hialeah Shopping Center Brokered

The shopping center was 99% occupied with a strong roster of both national and local tenants at the time of the sale.

Chiquita Brands Relocates Banana Division HQ To 19,000 SF Office In Dania Beach

Proximity to shipping lanes through Port Everglades was a driver in the move.

Uber, South Florida Business Journal Sign Leases at Brickell City Tower in Downtown Miami

Uber Technologies Inc. and the South Florida Business Journal have leased office space at Brickell City Tower, a 33-story office building located at 80 S.W. 8th St. in downtown Miami. The 287,000-square-foot tower is one of the premier office assets in Miami’s Brickell Financial District. Transportation tech firm Uber has leased 9,333…

Big Wynwood Rezone Up for Big Vote, Woonerfs and All

The Miami City Commission is scheduled to vote on the implementation of the Wynwood Neighborhood Revitalization District, a.k.a. the masterplan to guide Wynwood’s urban development, this week. The plan is intended to preserve everything good about the neighborhood, including Wynwood’s famous mural…

An Incredibly Gorgeous Video about the Design of PAMM

The Perez Art Museum Miami is the rare, special breed of building that everybody loves. Since the day it opened, not that long ago really, Miamians have been obsessed with the architectural triumph that is the city’s flagship art museum, designed by Herzog & de Meuron. On…

Industrial Lease Negotiated For U.S. Customs Brokerage Firm

Lucia Custer and Gabriel Garcia-Menocal, SIOR represented Clear Freight, Inc. in a 5-year, 14,489 square foot lease at 11350 Northwest 25th Street in Miami.

TRD to host South Florida real estate showcase on Oct. 15

The countdown’s begun until The Real Deal’s 2nd Annual South Florida Real Estate Forum & Showcase, taking place on Oct. 15 at the Moore Building in Miami’s Design District.  Last year’s showcase was the industry event of the year. More than 3,000 real estate professionals…

Williams-Sonoma, Pottery Barn returning to Lincoln Road

Williams-Sonoma and Pottery Barn, which shuttered their shops on Lincoln Road in March, are returning to the district — in Lucky Strike’s former space, The Real Deal has learned.  Several real estate sources told TRD that the stores, both part of Williams-Sonoma…

Trial pits down-zoned land owner against Hollywood

The owner of down-zoned land on Hollywood Beach is seeking up to $36 million in damages from the city of Hollywood in a jury trial scheduled to start Aug. 6.  “There’s no doubt it’s going to trial,” Scott Marder told…

Larkin Community Hospital closes on Hollywood nursing home

South Miami-based Larkin Community Hospital closed on the sale of a Hollywood nursing home for $16.1 million, Broward County records show.  High Ridge Management Corp. transferred ownership of the 58,189-square-foot hospital and rehab facility at 1200 North 35th…

Group P6 taps Dick Building Co. for SoFla projects

A rendering of the Opal unit in 327 Royal Palm, a 3,177-square-foot unit.Venezuelan developer Group P6 hired a general contractor for its residential projects in Boca Raton and Deerfield Beach, The Real Deal has learned.
Jefferson Hills, Pennsylvania-based Dick Building Company will lead const…

Second new Fort Lauderdale condo project completed

A second new condo project has been completed in the booming Downtown Fort Lauderdale and Beach market since this current South Florida real estate cycle began in 2011.  Transactions in the newly completed five-story Cymbrinas Cay project…

Boca Raton country club begins $50M renovation

The Boca West Country Club is embarking on a $50 million renovation project, starting with the demolition of its clubhouse, the property announced.  The 1,400-acre country club, at 20583 Boca West Drive, is home to about 3,400 families. It was…

Uber Picks Brickell for Miami Offices

Brickell City Tower, a 33-story office building in the heart of Downtown Miami’s Brickell Financial District, is adding some high-profile tenants to its roster….

Lincoln Submarket Trophy Hits Market

M&M’s Drew Kristol calls this a “rare opportunity” for an investor. Get all the details.

Lululemon, Cole Haan, 2 more retailers announce space at Brickell City Centre

Brickell City Centre on Tuesday announced five more brands that have claimed storefronts at the massive mixed-use development. They include fitness apparel chain Lululemon Athletica, Italian casualwear brand Harmont & Blaine, American lifestyle retailer Cole Haan, handmade Italian sunglasses retailer Illesteva and Colombian…

Lennar sues family of Atlanta developer Wayne Mason for $137M

A subsidiary of Lennar Corp. is suing the family of Atlanta developer Wayne Mason for $137 million that Mason allegedly “fraudulently transferred” to them to keep it from going to creditors.  In an amended lawsuit filed July 17 in federal court in Atlanta, a subsidiary of Miami-based home building giant Lennar Corp. (NYSE: LEN) claims…

Class A Miami Office Building Goes On The Block

The asset is listed for $38,000,000.

Wynwood-ish Murals Come to South-of-Fifth’s Marriott Stanton

South-of-Fifth, the enclave of South Beach where the expensive minimalist white look is more of a thing than exuberant walls of color now has a few… exuberant walls of color, albeit temporary ones. The Marriott Stanton South Beach has commissioned local street artists to paint wall murals on the…

Uber leases office on Brickell for Miami headquarters

Uber parked its Miami headquarters at Brickell City Tower.  The San Francisco-based ride-sharing service signed a 9,333-square-foot lease in the 33-story tower at 80 S.W. 8th Street. Blanca Commercial Real Estate’s Danet Linares and Alexander Cahlin represented the landlord while CBRE’s Shay Pope represented Uber in the deal.

Arrested Development: Miami’s Planning Dept. Killing Fairholme Capital Art Museum

The situation with Bruce Berkowitz’s Fairholme Capital private art museum, which the art collector plans (planned?) to establish on Biscayne Boulevard, is at a standstill. People at the city say they want it but, despite a redesign with a two-building configuration to…

National Commercial Real Estate Roundup For July 20, 2015

Department of Energy needs your help, options and collaboration remain key in today’s office, brick and mortar retail boom time, multifamily fund surpasses $1 billion and more. It’s all here at the Commercial Real…

Private REIT picks up nearly 10 acres in Medley

Medley site, Roger Langer Jr. and Roger E. Langer, and James Martell, chaiman and CEO of Ridge Property Trust.
A Chicago-based real estate investment trust paid $5.3 million for vacant land in Medley, according to a deed recorded in Miami-Dade County on Monday.  Langer Holdings Corp. sold the 9.75-acre…

Self-Storage Sells at Record Price

“The seller did a phenomenal job maintaining the facility and it will make a tremendous addition to the buyer’s portfolio.”

Moishe Mana Strikes in Miami Again

The CRE team worked through various obstacles to get the deal done. Get all the details.

Class A Downtown Office Building Hits Market

M&M says the building is posed to take advantage of Downtown Miami’s explosive growth.

Will Call Miami Closes Down to Make Room for Miami Worldcenter

Love it or hate it, everyone knew about Will Call. The hybrid music venue perched at the doorstep of the American Airlines Arena for the last four years was many things to many people. But now, Will Call Miami is officially closed down, its doors shut, bar emptied. Modeled to be a great rock & roll venue, Will Call served the needs of many…

All Aboard Florida’s MiamiCentral Scale Model Includes Supertower That Could Reach 1,000 Feet

Somewhere in All Aboard Florida’s headquarters is a scale model of their under-construction MiamiCentral project.  We now have evidence that the model exists, and that it includes a so-called “Supertower”, thanks to Local10 cameras which captured video of it earlier this week. The supertower is planned to be built as part of the…

Construction Has Commenced At 396-Unit Paraiso Bayviews

Foundation work is underway at Paraiso Bayviews, about 14 months after developer Related Group began accepting reservations.  This marks the third tower under construction at the Paraiso Bay complex. Foundation work at the 53-story One Paraiso began last month, while the first 53-story Paraiso Bay tower is now about a dozen floors up.

TriStar and RFR Capital pay $6,565 a square foot for Lincoln Road property

An affiliate of TriStar Capital and RFR paid what is near a record $6,565 per square foot for retail space on South Beach’s famed Lincoln Road.  The Lauren Investment Corp., managed by Paul B. Yang in Monroe, New York, sold two retail condos in the Lauren Building at 918 and 920 Lincoln Road for $18.5 million to 918 Star LLC…

Atlantic Commercial Group Completes Sale Of Downtown Delray Building

The property is comprised of approximately 10,000 square feet of ground floor retail space and 2nd floor office space.

Publix-anchored center in Hialeah sold for $23M

The Publix-anchored El Mercado shopping center in Hialeah sold for $23.1 million.  El Mercado Associates, a Miami-based company managed by Allen Greenwald, sold the 101,484-square-foot center at 2400 West 60th Street to Stockbridge El Mercado, an affiliate of Atlanta-based Stockbridge Capital Group. The deal included…

Berger Commercial Realty Tapped To Market Three-Building Retail Property

The asset is listed for sale for $32 million.

Hollywood Self Storage Facility Fetches Record Price

The $18,825,000 sales price equates to $146 per square foot.

Unusual Amenity Alert: Mikveh-Equipped Sunny Isles Condo Tower Gets Thumbs Up

Aurora, the first major condo tower to be proposed west of Collins Avenue in Sunny Isles Beach, got the big thumbs up from city commissioners after developer Verzasca Group downsized the building from seventeen stories to sixteen, from 71 units to 66, and making the average unit size about a…

Bend it Like Beckham: Finally, David Beckham’s Stadium Will Go Next to Marlins Park

Stop everything. David Beckham is about to begin negotiations with the City of Miami to build his Major League Soccer stadium next to Marlins Park. Finally. A combination of factors may have led to this decision, a bold change of heart from an earlier stance against the…

Going Up: Met Square Breaks Ground Over Archeological Site

MDM Group’s Met Square, the fourth and final portion of the Metropolitan Miami megaproject, has broken ground according to a press release. So, basically that big, gapping void between the first Met tower and the Marriott Marquis that had that amazing archeological site is being filled in with the…

Hostel Takeover: Part One

On our New Miami blog we often talk about Miami’s role as a trendsetting market for the hospitality industry. Over the last few years, Miami has been a popular launching point for luxury brands, such as The Thompson Miami Beach, Ian Schrager’s EDITION  Hotel South Beach, SIXTY Hotel…

Foreign investors staking claim to Miami’s office and retail sectors

High net worth investors, families, and wealth managers from Latin America, seeking to diversify their portfolios, have been on a buying binge for office buildings and single-tenant retail properties throughout Miami-Dade County during the past 18 months, real estate…

Drastic Price Appreciation Not Uncommon

“ These are all areas that are also investing heavily in their infrastructure and maintaining high quality of life standards.”

Moishe Mana’s Wynwood assemblage expands west of I-95

Moishe Mana bought a site on the west side of Interstate 95, across from his large holdings in Miami’s trendy Wynwood neighborhood.  Paradise Dairy Acquisitions, an affiliate of affordable housing developer Pinnacle Housing Group, sold the 5.32-acre site, at 2451 N.W. Seventh Ave., for $8.5 million to a company controlled by Mana…

IMC Property buys repossessed Miami-Dade office from Regions Bank

IMC Property Management bought a repossessed office complex in Miami-Dade County’s West Kendall at a 24 percent discount to its old mortgage.  An affiliate of Regions Bank (NYSE: RF) seized the property, at 8785 S.W. 165th Ave., in March in a $16.45 million deed in lieu of foreclosure with Lucky Start Executive Plaza.

Market Reports: The Miami Market’s Unsustainable Boom has Ended

Douglas Elliman just published their 2Q 2015 Real Estate Market Reports covering Miami, Fort Lauderdale, Boca Raton, and Palm Beach. As always, report author Jonathan Miller of Miller Samuel, lover of charts and graphs, is back to break down the South Florida market for us.

Art gallery/office building in Miami’s Wynwood sold for $10.8M

A Palm Beach Gardens investor paid $10.8 million for an art gallery and office building in Miami’s hot Wynwood neighborhood.  Zadok Real Estate Holdings, managed by Dror Zadok and Miriam Zadok, sold the building at 2534 N. Miami Ave. and the parking lot at 26 N.W. 26th St. to 2534 Morse LLC. C1 Bank provided a $6.2 million…

Comment of the day: “Nothing could be more important for Little Havana…

“Nothing could be more important for Little Havana than getting this right, but none of the solutions proposed, including this one or FDOT quite gets there. Think two-way auto, on-street parking & transit on 8th in traditional Main Street configuration. Think two-way auto, with protected bike…

Are We Overheating?

Could the rapid appreciation be perceived as a sign of an overheated commercial real estate market? M&M’s Alex Zylberglait sounds off in this interview.

Scott Robins’ new building off Lincoln Road for sale: $30M

A newly constructed building off Lincoln Road, developed by Scott Robins and Miami Beach Mayor Philip Levine, has just been up for sale for $30 million, The Real Deal has learned. The 18,000-square-foot, glass-enclosed building at 1000 17th Street in Miami Beach is the new site for Suitsupply, a European men’s brand that opened last month.

Big-name developers competing for $74M Miami-Dade affordable housing project

Some of South Florida’s biggest builders are among the six developers competing to redevelop Liberty Square in Miami as part of the county’s $74 million affordable housing project.  The Liberty Square Rising project would create a new income-restricted community on the Lincoln Gardens site at 4750 N.W. 24th Court, and relocate…

Developers: Broward is hot competitor to Miami-Dade

Three active developers in Broward County said the area is a hot spot for condo and retail projects and is competing well with Miami-Dade County for development dollars. “We’ve never seen Broward more vibrant, so interesting …. Right now is the time to jump in,” said Harvey Hernandez, chairman and CEO of Miami-based Newgard Group…

Too Big And Intense: One Brickell May Need To Be Redesigned After Neighbor Complains

One Brickell’s approval by the city’s Planning Department is being appealed by a neighbor.  A lawyer representing 500 Brickell’s condo association filed the appeal last month. In a letter, he wrote that that the project is “too big and intense” for the property on which it is proposed at 444 Brickell Avenue.  As part of the approval, the Planning…

Technology Company Magic Leap To Move Into 340,000 SF Facility

The secretive company is consolidating the majority of its Florida workforce.

U.S. Customs Brokerage Firm Inks 14,000 SF Lease Deal

NAI Miami’s Lucia Custer and Gabriel Garcia-Menocal, SIOR negotiated the 5-year deal.

Judge Rules for Business Partner in Disputed Lot Sales

A judge rejects a breach of fiduciary duty claim in a dispute between two business partner over the $2.5 million bulk sale of 279 lots.

Lennar Forms $1.1 Billion Equity Fund for Multifamily Development

Homebuilder Lennar Corp. has formed an equity fund between Lennar Multifamily Communities and global sovereign and institutional investors with $1.1 billion in equity commitments, including a $504 million co-investment commitment by Lennar.  The new fund, Lennar Multifamily Venture, will seek to…

Miami Design District Bldg Sold for $24M

The Comras Company, Inc. sold the retail building at 17-27 NE 39th St. in Miami, FL for $24 million, or approximately $2,900 per square foot, to a joint-venture between RedSky Capital LLC and London-based JZ Capital Management.  Delivered in 1972, the 8,300-square-foot, multi-tenant retail strip…

Apple Hospitality REIT Pays $23M for Hampton Inn Fort Lauderdale

Apple Hospitality REIT, Inc. acquired the 156-room Hampton Inn Fort Lauderdale at 250 N. Andrews Ave. in Fort Lauderdale, FL for $23 million, or about $147,000 per door, from Hospitality Opertaions, Inc.  Built in 2002, the 11-story, 136,609-square-foot hotel sits on eight-tenths of an acre in the…

Melo Group’s Aria on the Bay Breaks Ground Early

The Melo Group has broken ground on its luxury condominium project, Aria on the Bay, at 1770 N. Bayshore Dr. in Miami, FL.  Aria is located near Biscayne Bay, which is situated in the heart of Miami’s Arts & Entertainment District and within walking distance to the Adrienne Arsht Center’s…

Shore Club project demolition approved for Cromwell Hotel

After four hearings before the Miami Beach Historic Preservation Board, New York-based HFZ Capital Group received approval to carry out the “near total demolition” of the Cromwell Hotel, a structure that will be part of an eventual luxury condo-hotel complex anchored by the iconic Shore Club hotel at 1901 Collins Avenue. Saying…

Mindboggling Reveals: Miami River Jose Marti Park Could Get Big Revamp & Big Art

Construction Watch: All Aboard Florida Shows Downtown Miami Station Construction Progress in Trio of New Videos

All Aboard Florida, the passenger rail line that the Florida East Coast Railway is constructing between Miami and Orlando, is making fast progress on all three of its South Florida stations, and they want the world to know it. They put together three videos on the construction of the biggest stations…

Eco-Village Looks To Expand Miami-Dade Development Boundary

A new development project, Green City, just released its plans to build a 860 acre eco-friendly village in west Miami-Dade County.  The ambitious project is slated to be built over the next two decades and calls for the inclusion of, among other things, 1.36 million square feet of retail, 11,401 new homes (a portion of which will be set aside…

Aldi to Open on Biscayne July 23rd

Aldi, the king of discount grocers, opens its newest location at 1290 NE 108th St. next week.  The chain, along with Trader Joe’s, is owned by Germany’s Albrecht family — Trader Joe’s is operated by Aldi Nord and Aldi is operated by Aldi Sud. It is modeled after sensible German grocery stores, where shoppers prefer a no-frills experience…

Design Firm PlusUrbia Proposes to Transform ‘Highway Ocho’ into a Main Street Again

The Florida Department of Transportation is currently studying Little Havana’s main street, SW 8th Street, also known as Calle Ocho, along with the accompanying SW 7th, going from I-95 as far west as SW 27th Avenue, as part of all the new West Brickell development. Both SW 7th and 8th Streets are…

Real Estate Spinoffs, Monetization and High-Yield Investments

Some of the most active areas in real estate today are being driven by operating companies and investors eager to monetize the value trapped in their real estate holdings. Both can benefit via such methods as non-recourse financing, sale-leaseback transactions and, increasingly, REIT conversions and…

This Downtown Street Seeing Triple-Digit Appreciation

It took Miami Beach’s Lincoln Road decades to experience that kind of appreciation. What’s going on?…

Why Flagler Street is Suddenly En Vogue

Investors are pouring millions of dollars to buy old office and retail properties in an area public and private investment has largely ignored for decades.

South Florida 6th-worst for foreclosures in first half 2015, RealtyTrac says

Foreclosure filings dropped significantly in South Florida during the first half of 2015, but the region still had the sixth-highest foreclosure rate, according to RealtyTrac.  There were 28,409 foreclosure filings in the tri-county area during the six-month period, a 30 percent drop from the same time a year ago. RealtyTrac counted new…

Moishe Mana boosts loan to $75M

Developer Moishe Mana took down $54 million on a $75 million facility for a handful of properties he owns in Wynwood and downtown Miami, according to a mortgage recorded in Miami-Dade County records on Friday.  Mana’s companies, 48-76 East Flagler…

Shore Club project demolition approved for Cromwell Hotel

After four hearings before the Miami Beach Historic Preservation Board, New York-based HFZ Capital Group received approval to carry out the “near total demolition” of the Cromwell Hotel, a structure that will be…

Related Group completes its fourth new condo tower of 2015

It has been a remarkably busy year for South Florida’s most prolific vertical residential developer.  For the fourth time in 2015, the Related Group has completed a new condo tower east of I-95 in the tri-county South Florida region of Miami-Dade, Broward…

Valentino and Chopard bringing flair to Brickell City Centre

Valentino and Chopard will be among the upscale boutiques at Brickell City Centre, the project’s developer Swire Properties and retail co-developers Whitman Family Development and Simon Property Group announced on Tuesday.  The Italian fashion house and Swiss watch…

Vine Vault coming to Miami’s Arts & Entertainment District

Wine collectors will soon have a new storage facility for their finest Cabernets and Chardonnays, The Real Deal has learned.  Vine Vault has leased a 6,300-square-foot facility at 1601 North Miami Avenue, with plans to open by November or December, CEO Elton…

LNR trades Fort Lauderdale offices for $6M

A six-story office building in Fort Lauderdale was sold for $6 million just six weeks after it was listed.
The Cypress Creek Tower, a 61,917-square-foot building at 800 West Cypress Creek Road, was put up for sale by its owner LNR roughly two months ago.

Brazil still top country searching for SoFla real estate

For the 12th consecutive month, Brazil was the No. 1 foreign country searching for South Florida real estate online in May, according to the Miami Association of Realtors.  Over the past year and a half, Brazil has dominated the list for all but three…

Cuban Museum due for wrap-up

A final completion date for the Cuban Museum’s new building has been set for late August, finally solidifying what has been a fluid timeline for the center’s completion.  Part of the team spearheading the project met Friday to track its progress, said Raul Rodriguez, who heads Rodriguez…

All Aboard Florida rail team on track

All Aboard Florida is busy lining up its corporate partners in its quest to establish a new passenger rail service, and creating new jobs in its wake.  All Aboard Florida recently selected Siemens Corp. as the full maintenance provider for its passenger rail trains connecting Orlando and Miami…

County hands developer river land for park

The public will be the beneficiary of a new riverfront park, thanks to an agreement between Miami-Dade government and the developer of mixed-use River Landing Shops and Residences.  County commissioners declared surplus county-owned land at 1280 NW 11th St. and authorized its conveyance to River Land…

Warehouse feeding frenzy continues

Vacancy rates in the Miami industrial sector remain low, dropping from about 4% in the first quarter of the year to 3.8% now, CBRE reported.  Seagis Property Group, a Pennsylvania-based company that owns 5 million square feet of industrial property in South Florida, will continue to expand its base…

Doral office market exploding

When it comes to Doral’s office market, the maxim “If you build it, they will come” is frequently cited as a rationale for its success.  “Doral has been exploding in the past few years,” said Jon Chassen, partner in the law firm Bilzin Sumberg’s real estate and…

Businesses may define Marine Stadium use

City leaders are moving to define Miami Marine Stadium’s future.  After accepting an $80,000 grant to investigate the concrete stadium’s underwater supports July 9, commissioners debated the purpose and use of the idled stadium after it is restored.  Then they unanimously directed City Manager…

County should take another step to play fair on bond issues

A vital step to build fiscal sanity and voter awareness passed in a Miami-Dade committee last week.  The measure would require calls for general obligation bonds to state the cost to operate and maintain projects the bonds would finance and spell out sources to pay that cost.  That’s pretty…

Christine Barney: Seeks chamber of commerce dashboard of success

Christine Barney often jokes that she was “dragged” to Miami for family reasons. She missed her beloved New York City but, after six months, had the opportunity to return and decided to stay. Ms. Barney had already fallen in love what she calls the sense of energy in Miami, its welcoming…

Theme park has fallback plan

Miami Wilds LLC remains enthusiastic about its proposed theme park to be built in the ZooMiami area and is evaluating the feasibility of a phased approach to expedite plans for the multi-million-dollar entertainment complex.
According to George Navarrete, deputy director of parks for Miami-Dade County…

Miami Firm Represents Progresssive Insurance In 76,000 SF Industrial Facility Sale

NAI Miami’s Timothy Merriman represented Progressive in the deal.

Six Weeks Brings A Buyer For Cypress Creek Tower

The quick-to-close sale transaction within Broward County’s second largest office submarket is a good representation of heightened investor confidence and demand.

Greystone, Alta Developers Top Off Coral Gables Luxury Apt. Project

New York-based Greystone and Miami-based ALTA Developers have topped off construction of The Mile along Coral Way, a 13-story luxury rental property near Miami’s Miracle Mile.  The 120-unit mixed-use property designed by architectural firm Behar Font & Partners, with street-level retail is a…

Cool Map Things: The Most & Least Expensive Neighborhoods to Rent in Miami

Real estate listings website Zumper has released a map of the most and least expensive neighborhoods to rent in Miami, showing the average price of a one-bedroom apartment in every neighborhood from Miami Shores ($1,245/month) to the southern tip of Coral Gables. (rent $1,480/month) Prices are…

Floorplan Porn: Paramount Miami Worldcenter Selling Thirty Two Penthouses

Paramount Miami Worldcenter’s penthouses haven’t officially launched sales yet, but of course that doesn’t mean you can’t buy one. According to Realtor Michael Light, who is involved with the project, two of them have already been reserved, and if you want one of the other thirty, well he’s your…

Cute Little Tropical Retail Building Coming to Sunset Harbour

In the last few years Sunset Harbour has blossomed, with many describing it as a new ‘Lincoln Road-like’ area for locals who feel displaced by the overwhelming commercialization and tourist hoards on Lincoln Road itself. A flurry of new developments were announced…

EB-5 Funding Is Turning Miami China-Centric

China accounts for about 85 percent of EB-5 capital investment in the US making this funding especially viable for any project attempting to raise more than $20 million through the EB-5 program.

Miami-Dade County Proposed Budget Confirms Dedication To P3s

Last week Miami-Dade County Mayor Carlos Gimenez introduced the County’s FY 2015-16 Proposed Budget and Multi-Year Capital Plan. A review of the budget’s line items confirms the County’s dedication to the use of public-private partnerships (“P3s”) in executing its…

One of the Most In-Demand Office Submarkets

Talk about a fast sale. An office building in this hot Broward County submarket sold in less than six weeks of listing.

Luxury brands Valentino, Chopard to open at Brickell City Centre

Italian fashion house Valentino and Swiss watch and jewelry designer Chopard are among the first to confirm their openings at Brickell City Centre, which is expected to be completed by fall 2016.  Representatives of the 5.4 million square-foot project are already reporting strong leasing a year before its expected opening. At least 450,000…

Why One Miami CRE Firm is Heading to NC

Miami’s multifamily market is booming, so why is this company opening an office in Raleigh, NC?

Israeli developer Mana boosts mortgage on Miami properties to $75M

Israeli developer Moishe Mana got a huge boost in a mortgage covering some of his properties in downtown Miami and Wynwood as he crafts plans for both areas.  Mana has been buying older commercial buildings in both neighborhoods while crafting big plans behind the scenes to develop those properties. The Miami 21…

Carter CEO Uses “M” Word in Trend Talk

Bob Petersen’s firm has invested $875 million in the last 10 years. Find out what he’s expecting in the Southeast in this interview.