Offices of Keyes Commercial Realty

Giant Mediterranean Village Coral Gables project gets ‘Go’

The developers of Mediterranean Village at Ponce Circle finally have the go-ahead from the Coral Gables City Commission for their mixed-use project after years of work that included 20 public meetings, others before various boards, peer reviews and conversations with city staff as well as business and neighborhood associations.

New Zoning For Wynwood As Neighborhood Evolves From Industrial Roots

Later this week, Miami’s Planning, Zoning and Appeals Board is scheduled to vote on a plan that would radically alter permitted uses for property in the area. City officials say that if approved, the new rules would allow Wynwood to transition from an industrial zone into ‘a diverse, mixed-use, residential neighborhood.’ Over 18 months…

Building in Miami’s Midtown set for retail renovation after $7M purchase

The buyer of a daycare center in Miami’s Midtown neighborhood plans to redevelop it into retail. Nonprofit Kidco Child Care sold the 9,000-square-foot, two-story building at 3630 Northeast 1st Court for $7 million to Lomback LLC, a Houston-based company managed by Eric Villasenor. Fifth Third Bank provided a $5.61 million loan…

Morays Jewelers makes deal to relocate headquarters to Coral Gables

Morays Jewelers will move from downtown Miami — its home since 1994 — to Coral Gables. The new headquarters and its accompanying retail store are expected to open by the first quarter of next year. Morays is leaving the historic Alfred DuPont Building at 50 N.E. 2nd Ave. where the company had part ownership, according to its website.

Video of Implosion at Versailles Hotel in Miami Beach

Watch this video of the implosion of 1955 boxy addition to the Versailles Hotel in Miami Beach.  The addition was imploded, but the original Versailles structure, built in 1940, was retained. The partial demolition was approved by Miami Beach’s Historic Preservation Board last …

Broker Completes Two Record-Breaking Commercial Transactions

The deals mark the highest price per square foot for commercial property in Little Havana and Miami’s Design District, according to a release.

Executive Airport Business Center sold out of foreclosure

The repossessed Executive Airport Business Center in Fort Lauderdale has been sold for more than its former mortgage. A commercial mortgage-backed securities (CMBS) seized the two office buildings totaling 73,216 square feet at 5101 N.W. 21st Ave. in 2014 after foreclosing on the $4.39 million mortgage of Airport Executive…

Mall Overhauls: Bal Harbour Shops Expansion Refined, Detailed in New Renders

Bal Harbour Shops has released new renderings of the mall’s planned expansion, which would include a land swap with the Village of Bal Harbour that still has to be approved by voters, a new mall entrance, more generous public amenities, new boutiques, expansions to both existing department stores…

Behind the scenes: Progress at Brickell City Centre, the mixed-use project reshaping Miami’s business center

Miami’s Brickell City Centre is well on its way to completion, and the Business Journal was invited to check up on the progress of the $1.05 billion mixed-used project that will redefine the live, work and play environment in Brickell. Phase I of the project is expected to be completed in the third quarter of this year. The 263-room hotel…

Kung Pao Chicken with a Side of Dust: Dadeland’s Food Court Is Undergoing Major Renovations

We’re not gonna lie– Dadeland has the best food options out of all the malls in this cityand it’s about to get better, at least aesthetically. The mall’s food court is undergoing an extensive renovation, and it should wrap up in November right in time for the holidays. From the renderings, it looks like this new pavilion will be focused…

AC Hotel planned for Aventura

A week after Florida’s first AC Hotel opened in Miami Beach, another South Florida location has been announced. Miami’s Zyscovich Architects said its client, Norwich Aventura II, LLC, approved the design of the 233-room hotel on Tuesday. The hotel will open in the Aventura Corporate Center.

Mall Overhauls: Dadeland Mall is transforming its…

Dadeland Mall is transforming its food court into more of a ‘dining pavilion’ with new seating and congregating areas, a very upgraded look, and snazzier bathroom facilities. South Florida’s boom in new mall construction and old mall renovations continues unabated.

Development Du-Jour: Palm Tree-Inspired Solitair Tower Breaks Ground in Brickell

Last week Solitair, a vertiginous new all-rental rental high-rise soon to shoot up in Brickell courtesy of developers, ZOM and AIG Global Real Estate, broke ground. The ADD Inc.-designed, 50-story tower will include 438 residential rental apartments and over 7,500 square feet of ground-level retail…

Doral Cooler Warehouse Sold to Freshworld Logistics

The ComReal Companies are pleased to announce the sale of the Americas’ Gateway Park Building located at 1800 NW 89th Place in Doral, Florida. The property consists of 110,500 sq. ft. building with a refrigerated warehouse and 30% office space. The sales price was…

Congress Moving To Block EPA Regulation Of Streams, Wetlands

The Senate Environment and Public Works Committee approved legislation that would force the EPA and the U.S. Army Corps of Engineers to withdraw and rewrite rules that clarify which of those smaller bodies of water are regulated under the Clean Water Act.

Sunset of Distressed Condominium Relief Act Extended

The Distressed Condominium Relief Act enacted as Part VII of the Condominium Act in 2010 (“Act”) was a temporary measure to encourage absorption of unsold condominium units arising as a result of the Great Recession. This legislation attempted to allay the fears of potential investors…

Take a look at Brickell City Centre’s construction progress

The finish line is in site for Brickell City Centre, which is on track to hit its completion date of 2016.
Developer Swire Properties, which put up all $1.05 billion needed to fund the 5.4 million-square-foot pro…

Whitman releases new renderings of Bal Harbour shops

Whitman Family Development revealed new renderings of upgrades to Bal Harbour Shops and Village on Tuesday.
The renovations and expansion, valued at $400 million, will include a proposed land swap between Bal Harbour Village and Whitman. Voter…

Flagler Street building in downtown Miami sells at premium

An office building on Flagler Street in downtown Miami sold for nearly three and a half times its previous sale in 2009, The Real Deal has learned. On Thursday, the property at 219 East Flagler Street, sold for $9 million or $213 per square foot, Marcus & Millichap commercial…

Taubman Centers could back out of Miami Worldcenter: report

Taubman Centers could end up pulling out of the massive Miami Worldcenter project, according a Goldman Sachs report. Sachs analysts said competition from Brickell City Centre, which has its own major shopping component a few miles away…

Investment partners buy Fort Lauderdale offices for $4.6M

Two Chicago-based investment firms teamed up last week to purchase a commercial property adjacent to the Fort Lauderdale Executive Airport for $4.6 million. The property is located at 5101 Northwest 21st Avenue and…

City of Miami, Village of Key Biscayne fail to reach agreement

In a Miami-Dade College conference room stacked with attendees wearing white T-shirts with slogans supporting the Miami International Boat Show, elected officials from the city of Miami and the Village of Key Biscayne failed to reach a compromise regarding…

Rare Lender Disposition Offers Investor Upside

“Within the Commercial Boulevard office submarket, this property has perennially out-performed the broader office submarket.”

Meet Publix’s next big threat: Lidl, the German grocer with big U.S. expansion plans

A European discount grocer with plans to expand in the U.S. could pose a “formidable” threat to grocers like Publix Super Markets Inc. Lidl chose the metro D.C. region over downtown Charlotte for its U.S. headquarters, reports the Washington Business Journal, a sister news organization. It will open a distribution center in Spotsylvania…

Could plans change for the 2016 Miami International Boat Show?

After two lawsuits and months of public back-and-forth, officials from Key Biscayne have agreed to work with Miami on crafting a compromise for next year’s Miami International Boat Show at Virginia Key. That could mean changes are in store for the event’s expected move to the Miami Marine Stadium property in 2016.

Report: Downtown Miami Condo Market Shifting

Fewer foreign buyers are doing all cash deals or hefty deposits, but Integra Realty Resources points to an emerging buyer group that’s helping to pick up the slack….

Miami Worldcenter developer settle litigation with broker Laquer

Real estate broker Edie Laquer’s long-running lawsuit against the developers of the $1.5 billion Miami Worldcenter project has been resolved, but the parties aren’t saying on what terms. The mixed-use project featuring retail, restaurants, residential and a convention center hotel on the north side of downtown is one of the largest developments in Florida.  Miami…

Implosion At Faena’s Versailles In Miami Beach

For the first time in 60 years, the original Versailles Hotel in Miami Beach stands alone – without a boxy addition that was added 15 years after it was built. The 1955 addition was imploded on Saturday, while the original 1940 Versailles structure was retained. Miami Beach’s Historic Preservation Board approved the partial demolition…

NY investors sell Publix-anchored shops for $17M

An affiliate of New York-based Blackpoint Partners sold the Polo Grounds Mall in West Palm Beach for $16.67 million, according to Palm Beach County records. FREP III-Polo Grounds, a company tied to Tampa-based Forge Capital Partners, acquired the 132,241-square-foot shopping center, which sits on…

Hialeah retail plaza sold for $11M

Ready Shopping Center in Hialeah sold for $11 million to a local company. The Cayon Family L.P. No. 2, led by Maurice Cayon in Hialeah, sold the 60,938-square-foot shopping plaza to Doral-based W 12th Ave Investment. Marcus & Millichap’s Drew A. Kristol and Kirk D. Olson represented the seller while Miami Gables…

Dadeland Mall to renovate food court, add restaurants

Dadeland Mall will renovate its food court in time for the holiday season, Simon announced on Monday. The multimillion-dollar renovation will span 19,298 square feet and include additions such as new vertical louvers, light fixtures on an existing rotunda, a skylight, and new furnishings.

Sapir, Rosen to launch luxe Surfside hotel with Turkish partners

Israel-based ASRR Capital, controlled by Alex Sapir and Rotem Rosen, and Istanbul-based Suzer Group have announced a partnership with prominent Turkish businesswoman Ozlem Onal to create a high-end luxury hotel at the oceanfront building they purchased in Surfside last week…

Executive Airport Business Center Sale Closes

The asset was purchased by a joint venture between two Chicago-based investment firms.

Weston retail plaza Waterways Shoppes II escapes foreclosure with new loan

The Waterways Shoppes II in Weston resolved a foreclosure lawsuit after finding a new lender. The 33,617-square-foot retail center at 2310 Weston Road was hit with an $11.6 million foreclosure lawsuit in 2013. The loan was subsequently sold to CF Waterway Holdings, an affiliate of Coral Gables-based Continental Real Estate Cos. (CREC).

14,000 SF Deal Inked At Flagler Station

The deal represents the telecom’s first Miami location, which will serve as part of its expansion into the Latin American market.

Is Miami Worldcenter Mall’s Developer Getting Cold Feet?

A report from Goldman Sachs suggests developer Taubman Centers may be getting cold feet about the 765,000-square-foot mall, but the company said it remains committed to the project.

Lifestyles of the Rich and Richer: How Much It Costs to Rent or Buy in One of Miami’s Luxe Hotels

Ever wondered how much it costs the select few who get to live in Miami’s top hotels? Back in April, we caught a glimpse of “America’s priciest tiny home” in none other than Miami Beach’s Setai. Here’s how much it costs to live in Miami Beach’s highest style, from the St. Regis to the Setai.

Public Art: The Design District Has the Coolest Mall Guide Map Ever

It may not list stores or have a bright red star with ‘you are here’ written next to it, but this little model of the Miami Design District which is located prominently by the entrance to the Palm Court’s underground parking garage and likely made out of bronze may be the…

It isn’t easy being green: Parks advocates went to Parcel…

Parks advocates went to Parcel B, the waterfront swath of grass and asphalt behind the American Airlines Arena, Saturday morning to unofficially dedicate it Dan Paul Park, drawing attention to the 20 year old problem. According to Channel 10, the Miami Heat, which promised to turn it into a park 20…

On the Market: Now that Trolleygate has been…

Now that Trolleygate has been over for about a year, with the Coral Gables Trolley Terminal securely back in the Gables, the terminal and maintenance facility that developer Henry Torres built in the West Grove is for sale. “Maybe to make it up to the community, our Commissioner should turn it into…

Miami Real Estate Brokers Headed to China

Real Estate is among the fast growing industries in the world; most people have invested in real estate as an individual or a company. Miami Real Estate Brokers’ motivation to…

Another Historic Miami Art Deco Hotel Trades

“This is the third hotel that Think Group has purchased with us in the last two years.”

Buyers Maintain Discipline Amid Deal Flow

Investors in 2015 are being “very disciplined in the way they deploy their funds, whether it’s debt or equity,” Akerman LLP’s Richard Bezold tells GlobeSt.com.

Check out the Porsche Tower’s Dezervator in action

The Dezervator, arguably one of the Porsche Design Tower’s most talked-about amenities, has been patented, proven and is almost ready for use. Engineers recently put the finishing touches on a nine-story miniature of the final product in Chicago, and have since been putting the concept through…

Cash Sales Made Up 35 Percent of All Home Sales in March 2015, Down from 39%

Cash sales made up 34.6 percent of total home sales in March 2015, down from 39 percent in March 2014. The year-over-year share has fallen each month since January 2013, making March 2015 the 27th consecutive month of declines. Month over month, the cash sales share fell by 2.8 percentage points. Due to seasonality in the…

Trophy Offices Open Up Historic 77% Rent Gap

Every major market in North America has its trophy spaces, the premier office towers with the best views, the most amenities and the highest rental rates. But the gap in rental rates between trophy space and all the rest has reached historic proportions. The most expensive offices now garner 77% more than non-trophy space, according to…

Clinton Hotel South Beach sells for $28.5 million

Clinton Hotel South Beach has sold for $28.5 million. The buyer calls itself Stellar Clinton LLC and is affiliated with New York company Stellar Management and Shawn Vardi. SM Think Clinton LLC also owns a 10 percent interest in the property, according to records. According to reports, Miami Beach-based Think Hotel Group…

WSJ: Builders Debate Merits of Raising Ceilings for Warehouses

Higher ceilings are the latest trend in warehouse real estate, but some builders say they could do more harm than good. Speaking on a panel at the NAIOP Commercial Real Estate Development Association’s Industrial Conference in Long Beach, Calif., on Wednesday, executives from Prologis Inc., DCT Industrial Trust Inc., Panattoni…

Miami Boat Show Director Lashes Back

The Village of Key Biscayne and the City of Miami are duking it out in a legal battle over the Marine Stadium site on Virginia Key. The village offered its side of the story in May. Now, Cathy Rick-Joule, the director of the Miami International Boat Show, is offering her side. In part one of this exclusive interview, we get some background…

Not Dead Yet: Malls are Adapting

Maybe it’s that reporters don’t like malls. After all they tend to be young, highly urban, single, and highly educated, not the key demographic at your local Macy’s, much less H&M. But for years now, the conventional wisdom in the media is that the mall—particularly in the suburbs—is doomed. Here a typical sample from…

West Palm Multifamily Property Trades In 1031 Exchange Deal

Associate Mitash Kripalani, CCIM negotiated the sale of the 27-unit multifamily asset for $4.25 million, or approximately $157,400 per unit.

The Fed fears lifting interest rates, ex-insider says

An expert who’s been involved in internal debates at both the Federal Reserve and the European Central Bank says the U.S. central bank is already behind the curve in lifting interest rates. Athanasios Orphanides, now a professor of global economics and management at MIT, was head of the Central Bank of Cyprus for five years, ending in 2012.

Two Tenants Relocate From Within Brickell To Four Seasons Tower

Cushman & Wakefield Director Gordon Messinger represented building owner Millennium Partners in the deals, which totaled 14,174 square feet.

Ecuadorian Flower importer buys Doral complex for $10M

A flower importer from Ecuador purchased a warehouse/office complex building in Doral for $10 million.
Peter F. Ullrich, of Amelia Island, sold the 102,310-square-foot Americas’ Gateway Park at 1800 N.W. 89th Place to G&G Cargo Service, led by President and CEO Jorge Garces. The price equates to $92 per square foot.

Century Homebuilders Group lands $11M construction loan from Apollo Bank for Sweetwater Development

Century Homebuilders Group landed its first major construction loan post-recession thanks to Apollo Bank.  The Doral-based company led by Sergio Pino and Tatiana Pino was among the largest homebuilders in Miami-Dade County in the last real estate boom, but it got hit hard in the…

Mindboggling Reveals: Behold, the Porsche Design Tower’s Great Glass Dezervators

While construction of the incredibly over-the-top Porsche Design Tower in Sunny Isles Beach steadily continues, developer Gil Dezer has had a team hard at work engineering the three fully-automated car elevators that will whisk residents’ vehicles up to their private ‘sky…

It isn’t easy being green: Fed Up That Parcel B Still Isn’t a Park, Activists Will Dedicate it Anyway, Tomorrow

For two decades, since the construction of the AmericanAirlines Arena, Miamians have been promised a waterfront park behind the arena on a plot of land called Parcel B. The park was part of the deal with the Miami Heat for the arena, which the county never held the Heat ac…

Miami Beach condo-hotel approved for 70 units

A group of Argentinean developers announced the 70-unit condo hotel 6080 Collins Avenue Beach House. Alex Rakover and Pablo Hoberman, of Urbis Real Estate, and Domus Group’s Flavio Rossato are the developers of the six-story project. Units start at $263,000. The studio units average 385 square feet and the one-bedroom units…

Should the Boat Show be Moved or Not?

There’s a tit for tag growing between the Village of Key Biscayne’s mayor and the Miami International Boat Show’s director. Who’s right?

Jackson to complete $38.5M, 27-acre Doral buy

The Jackson Health System expects to close on Friday on its $38.5 million purchase of 27 acres of land in Doral to build a future healthcare facility. Jackson Health System CEO Carlos Migoya announced the imminent purchase during a report to the Miami-Dade County Commission’s Economic…

Codina lands $53M loan for Coral Gables apartments

An affiliate of Codina Partners obtained two big loans from Regions Bank to build its 2020 Salzedo mixed-use project in Coral Gables. The bank (NYSE: RF) made a $53.54 million mortgage to Codina CG for the residential portion and a $15.35 million loan to Salzedo Office for the office portion. The site covers 1.6 acres at 2020 Salzedo…

New York firm buys Little Havana apartment complex for $11M

An affiliate of Brooklyn-based Burke Leighton Holdings acquired the Miramar Apartments in Miami’s Little Havana (area CRE listings, demographics/economic data/projections) for $10.7 million. Miramar Apartments, a Coral Gables-based company managed by Luis Felipe Martinez, built the 44-unit complex with 120 units…

Moishe Mana wins county nod for Wynwood land swap

Miami-Dade’s Economic Development Committee on Thursday unanimously backed a pending land swap-construction deal between the county and Wynwood developer Moishe Mana. The deal, which Miami-Dade County Commissioner Audrey Edmonson described as a “win-win,” will come before the full…

Doral Holiday Inn Express in Miami sells for $15.9 million

The Holiday Inn Express Miami Airport Doral sold for $15.92 million, according to Miami-Dade County property records. The hotel, at 8436 Northwest 36th Street in Miami, sold for a 148 percent premium over its previous sale price of $6.4 million in December 2008. The seller, Sunshine Hospitality LLC, is affiliated…

Chariff inks in pink in Miami’s MiMo

Two pink houses, two new deals. Lyle Chariff and Mauricio Zapata, partners in Chariff Realty Group, just bought a mid-century revival property in Miami’s MiMo district, which they plan to renovate and turn into their corporate offices, The Real Deal has learned. The partners paid $1 million for…

County ranks 13th Floor/Adler Group plan for Metrorail station ahead of Related

The Adler Group and 13th Floor Investments will get the first crack at negotiating an agreement with Miami-Dade County to build a major project at the Douglas Road Metrorail Station after its proposal earned the highest grade by county staff. Both Adler/13th Floor and the Related Group responded to a request for proposals to construct…

Miami DDA Q2 2015 Residential Real Estate Market Study Released

The Q2 2015 update of the Residential Real Estate Market Study of the Miami Downtown Development Authority has been released .  This is a a continuation of their Q1 2015 (Annual) market research report. Some of their findings in this  most recent report include…

NAI Miami’s Johannsen Negotiates $24 Million Sale Of Marina Property

The 7.53 acre property is located at 2385 PGA Boulevard in Palm Beach Gardens.

Construction Watch: Brickell City Centre’s Climate Ribbon is Super Sexy in Reality

Construction at Brickell City Centre is moving fast toward completion, with the third of Phase I’s three principal towers getting topped off back in March. Since then, walls, glass, and everything else that will fill the place up has been doing so at a rapid clip, including the much ballyhooed…

Monochromes: Miami City Hall Was Originally Pan Am’s Stylish Seaplane Base

How many cities have city halls that were formerly seaplane airports? Probably just Miami, where in 1954 the former Pan American Airways Seaplane Base at Dinner Key was preserved and turned in to a very fashionable city hall. Before that, seaplanes would land and take off on the glittering waters…

South Florida Architects re-imagine the retail landscape with bold designs

The vast majority of retail centers in South Florida are sprawling enclosed malls surrounded by lakes of asphalt, or strip centers set back far from the street. But many of the region’s new shopping projects have bold architecture that aims to energize people at the street level.

It isn’t easy being green: All Aboard Florida Wants to Expand into Little Triangle Park

All Aboard Florida wants to expand its Downtown Miami station project into a 7,000 square foot triangular county-owned “green space” with trees, grass, and park benches at the southern tip of their property, which First Avenue currently veers around. The Miami Herald declines to…

Miami CRE Firm Negotiates $23,870,000 Investment Sale in Palm Beach Gardens, Florida

The 7.53 acre property is located at 2385 PGA Boulevard.

ZOM breaks ground on Brickell apartments

ZOM, an Orlando-based multifamily developer, just broke ground on its new apartment tower across the street from Brickell City Centre. The 50-story tower, dubbed Solitair Brickell, will house 438 rental units when completed. Zom purchased…

Battle Rages Over Miami Public Waterfront Land

Would developing the public waterfront land to year-round commercial event space, which would include the Boat Show, harmful to Key Biscayne or not?

International shipping company expanding in Miami-Dade

Overseas Cargo Inc. plans to more than double its space in Miami-Dade County with a new warehouse for international shipping. The third-party logistics company, also known as ShipOCI, currently has an 80,000-square-foot warehouse at 650 N.E. 185th Street. It is in negotiations to open a 150,000-square-foot warehouse in Medley…

Boat Show turning into bullies?

The City of Key Biscayne is at war with the Miami International Boat Show. As you know, the city does not believe the move to the Miami Marine Stadium site is a good idea, mostly due to a lot of traffic overtaking the fragile islands of Key Biscayne and Virginia Key.The National Marine Manufacturers…

Institute of Contemporary Art clears another hurdle

Earlier today, the Institute of Contemporary Art won a key preliminary nod from the city of Miami Commission in its quest to build a new home. By a 3 to 1 vote on first reading, city commissioners authorized zoning and land designation changes on four properties in the Design District and the…

Miami-Dade grants preliminary approval to Tri-Rail platform at All Aboard Florida station

The plan to run Tri-Rail passenger trains directly to All Aboard Florida’s Miami Central Station moved a step closer when the county granted preliminary approval for part of its funding on Wednesday. The South Florida Regional Transportation Authority is looking for $68.9 million in funding to build a platform for Tri-Rail – the…

Wharton Equity buys development site in Miami Design District for $14M

A group of local investors led by Lyle Chariff sold a retail development site in the emerging luxury shopping hotbed of the Miami Design District for $14 million to Wharton Equity Partners. The deal represents a nice profit for 3711 Design District LLC, which acquired the 11,336-square-foot lot at 3711 N.E. 2nd Ave. for $8 million in 2013.

The new Metrorail station proposal

I don’t usually like chrome and glass, but I love this image of the new proposed project for the Douglas Metrorail station.The Adler 13th Floor (a partnership between the Adler Group and 13th Floor Investments), provided their plans for the development…

Verzasca betting big on Bay Harbor

The Verzasca Group’s Pearl House condominium project in Bay Harbor Islands is now sold out, amid a boom in development in the once-sleepy enclave, The Real Deal has learned. Pearl House, a seven-story, 15-unit development at 1170 101st Street…

Why You Should Watch Post-Housing Bust Markets

GlobeSt.com caught up with Auction.com Chief Economist Peter Muoio to talk about the trends he’s seeing in the Southeast markets. Overall, he’s bullish on Florida cities like Orlando and Miami…

From $658 to $2,352 Per Year – LoopNet’s Subscription Prices (Should) Have Many Seeing Red

How long will the commercial real estate industry allow this to happen?

CBRE Tapped To Lease Miami Airport West’s Newest Warehouse Development

The three free-standing buildings will total ±430,000 square feet.

Sawgrass Mills Unveils Plans for Full-Price Shopping Center

Global mall and shopping center owner Simon Property Group (NYSE: SPG) this week announced plans to again expand the 2.38 million-square-foot Sawgrass Mills mall complex, adding a full-price shopping center to join the existing outlet stores and entertainment center. The 118,000-square-foot Town…

Design District Drama: The Institute of Contemporary Art…

The Institute of Contemporary Art Miami is gearing up to begin construction on its new digs in the Miami Design District, with a sculpture garden that extends into the neighboring and historic residential area of Buena Vista. The museum successfully received permission to demolish three non-historic…

Iconic Miami Office Property at US 1 and 27th Terrace Trades

The iconic Bloom & Kinnear office building at 2486 SW 27th Terrace has sold. Listed for sale with James Hawkins of Keyes Commercial, the property was under contract for more than a year before closing on May 4, 2018 at a sales price of $2 million. Consisting of 3,045 square feet of premium office property, at sale the handicap accessible building possessed six private offices, a conference room, and a…

Clear Proof of Miami CBD Office Space Demand

The report reveals volume of foreign capital chasing Miami Skyline office deals continues to grow and is having a large impact on pricing. But that’s not all…

Emerge Miami Fights for Waterfront Park Near American Airlines Arena

For our June Ride, let’s have a picnic at Parcel B and treat it as a park. “Parcel B” is a slot of county-owned land that has been used as a parking lot for years. It should already be a park for us! Dan Paul was a Miami-based First Amendment lawyer and parks advocate. A special thanks to the WPLG Local 10 team for their…

Rising Sea: Keeping Miami Beach Above Water

Facing the constant drumbeat of fear and pessimism over Miami’s future as it struggles against the oncoming impacts of climate change and sea level rise, Elizabeth Wheaton sees nothing but opportunity. As the head of the environment and sustainability division of the City of Miami Beach, she’s changing the tide by seeking…

The Eerily Steady Decline in Days to Sell Miami Area Commercial Property

Miami-Dade MLS Commercial Property Days to Sell.  It is usually the case that when one views a chart of some variable, the chart goes up and down erratically.   Of notable exception is the MLS chart, shown here, of average days to sell commercial property in Miami-Dade County for the six years from…

48-Story Solitair Brickell Gets $108M Construction Financing From JP Morgan Chase, Work Begins

Two prominent Wall Street firms are betting on Brickell’s booming apartment market. Yesterday, JP Morgan Chase issued a $108.35 million construction loan to build the 438-unit Solitair Brickell at 86 SW 8 Street, where demolition of a parking ramp began today. AIG, another big Wall Street firm, is also involved with the project…

ZOM lands $108M construction loan for apartment tower on Brickell

An affiliate of ZOM secured a $108.35 million construction loan for a 46-story apartment tower in Miami’s Brickell financial district. JPMorgan Chase Bank (NYSE: JPM) granted the mortgage to Brickell Bayview Owner, an affiliate of the Orlando-based developer and partner AIG Global Real Estate. Construction of the 420 unit project…

Take an early look at the new Miracle Mile

The New York-based design firm brought on to revitalize Coral Gables’ Miracle Mile has released new renderings of what the four-block stretch will look like when completed. Cooper, Robertson & Partners was hired by Coral Gables to bring its long discussed $20 million streetscape improvement plan to life. City commissioners approved…

Former Power Studios site in Design District sells for $14M

SLS South Beach hotel sells for $125 million

Miami Developers Forced to Market Condos to Actual Americans

Developers of luxury condo high-rises in Miami have had it pretty good for the past few years. Grab some famed starchitect, give your property some outrageously expensive and kind of silly amenities, slap a vague name on it like 2200 Ocean, and then just sell a bunch of condos to foreigners to use as investment properties…

Hialeah is Attempting to Create its Own Arts District

As many journalists, bloggers and fiercely loyal locals like to report, Miami is in the midst of a cultural renaissance. Of course, in any renaissance, art is a key ingredient, and artists need somewhere to live. But with the prices in Wynwood out of reach and rents rising rapidly in downtown, Miami’s evolution has some seriou…

Bay Harbor Islands preservation battle heats up

Plans nixed: 18 proposed townhouses for U.S. 1

A proposal to transform four single houses and two vacant lots into 18 townhouses on U.S. 1 near Miami Science Museum is now dead. At its May 28 Planning and Zoning Board hearing, the Miami City Commission unanimously denied the rezoning of the properties to allow for the larger project…

Urban Environment League: How the 63 story LED billboard tower would really look

Dear Mayor Regalado, Thank you for speaking with me last night in regard to “Innovation Tower”, the proposed 633-foot LED billboard for downtown Miami. As our leader, we’re going to need your help in the next few weeks to defeat this awful idea. You understand how bad this Eternal TV in the Sky will be for our city. We can’t let…

Sawgrass Mills unveils expansion plans for Town Center

Sawgrass Malls is getting another huge open-air expansion, this time a full-price retail section, owner Simon announced Tuesday. Town Center at Sawgrass will span 118,000 square feet and host about 25 full-price retailers, along with four new sit-down restaurants. A new parking deck will accompany…

Top Commercial Real Estate Buyers and Sellers in Miami’s 33129 Zip Code

Top buyers identified by Costar for commercial property in Miami’s zip code 33129 include: United Teachers of Dade; The Carlyle Group; Pan American Group; Brickell Park View LLC; Florida Inns Inc.; C.L. Leemon and Linda Leemon; Habitat Development; Kenneth…

Inked: 10-Year, 25,000 SF Lease Deal With Printing Company

Over the past eight months, CBRE has arranged the sale of over 200,000 square feet and has executed leases totaling over 280,000 square feet at the Fort Lauderdale Commerce Center, where MOR Printing will call home.

Miami-Dade considers Wynwood land swap with Moishe Mana for Puerto Rican Community Center

Miami-Dade County is considering a land swap with developer Moishe Mana in Wynwood to build a Puerto Rican Community Center and other government offices. The county commission’s Economic Prosperity Committee will vote on the deal with Mapton Holdings, managed by Israeli developer Mana…

Rising Labor Costs Means Higher Construction Costs For 2015

According to Chicago’s award winning Leopardo Companies annual industry report Construction and Economics Report and Outlook, the low price of oil is reducing the cost of construction.  Unfortunately at the same time, a lack of skilled labor…

Coral Gables seeking developers to expand parking garages near Miracle Mile

The city of Coral Gables has issued a request for proposals seeking a developer to expand two parking garages, and potentially add commercial space, just off its popular Miracle Mile strip. The city document said the development could have up to 315,000 square feet of mixed uses in addition to public parking facilities. Coral Gables has…

Sawgrass Mills to undergo another big expansion with Town Center project

Sawgrass Mills will undergo yet another expansion with the launch of its Town Center at Sawgrass project, Simon announced Tuesday. The new 118,000-square-foot area will have four sit-down restaurants, 25 “full-price” retailers as opposed to discount stores, and a parking deck that can hold 2,000 cars. it will also have areas…

No consensus on next big Miami transit move

Everyone acknowledges that something must be done to address South Florida’s growing transportation gridlock, but there is very little consensus on next moves. “There’s no appetite to go to the voters and ask for more money,” said Esteban Bovo Jr., a Miami-Dade County commissioner who was a panelist at a critical issues panel…

Yet Another Lawsuit Filed In Opposition To Worldcenter

Developer Martin Margulies filed suit last week against the city of Miami and Southeast Overtown/Park West Community Redevelopment Agency over the $88 million Tax Increment Financing.

Former Power Studios site in Design District sells for $14M

3711 Northeast Second Avenue. Power Studios’ former site in Miami’s Design District has traded hands for $14 million, with plans to develop it into a two-story retail and entertainment venue, The Real Deal has learned.
A partnership, majority…

First new South-of-Fifth condo project completed at time of slowing resales

The first of at least eight new preconstruction condo projects planned for the ultra-luxury South-of-Fifth neighborhood of South Beach has been completed, at a time when the pace of unit resales is slowing. The first transaction deed for a condo in the newly completed…

Can Miami Developers Learn From This Retail Project?

Kane Realty saw opportunity where others saw an aging retail area. Could Miami retailers take a page from this strategy?

TotalBank sells repossessed Miami condos at 38% discount

TotalBank sold eight repossessed units in the Venetia Condominium in Miami at a 37.5 percent discount. The Miami-based bank seized the condos at 55 N.E. 15th Street from E.T.C. Workshop in 2011 after foreclosing on a $4.4 million mortgage. Four years later, TotalBank affiliate Yellow Leaf Development sold them for $2.75 million…

Boca Raton company acquires 24 Walgreens-leased properties for $92 million

Boca Raton-based investment firm The Herrick Co. announced that affiliates of the company acquired 24 Walgreens-leased retail properties throughout the U.S. The pharmacy/retail locations, which the company says has long-term leases, were acquired for $92 million.

Local 10 Video: Groups fight for 4-acre parkland behind AmericanAirlines Arena

A group of open-space activists are planning the first picnic in Miami-Dade County’s so-called Parcel B Saturday, hoping to bring attention to 20 years of broken promises at the 4-acre waterfront site. “Interested groups are fighting a little more aggressively to get this 4-acre site turned into a park — the waterfront park that it should be,” said…

Keyes Commercial Realty

Developer proposes 288 apartments in southern Miami-Dade

Alcazar Development Group filed an application with Miami-Dade County to build a 288-unit apartment complex in the Naranja Lakes area. The Miami-based developer would build the Alcazar Apartments on a 9.9-acre site on the north side of Southwest 284th Street just west of Southwest 152nd Street. It acquired the property…

Paramount Miami Worldcenter Demolition, Groundbreaking & Contracts

Some people are saying that Paramount Miami Worldcenter will break ground within the next few weeks and that is just not completely accurate. I have confirmation that the demolition of Mekka, a former nightclub that will be replaced by the billion dollar mega-project, is scheduled to start within the next few weeks. Groundbreaking…

Google Streetview of Miami’s Skyline Over Time

Anyone that has had the pleasure of driving across the bridge to Key Biscayne, or even better, to walk, bike, or run on it, has to have noticed what a great view one gets of Miami’s rapidly growing skyline. What one loses track of is how much it is changing over time. Check out these Google St…

Weaker foreign currencies put damper on downtown Miami condo market, report says

Condo sales prices and rental rates in downtown Miami are holding steady as opposed to taking off as weaker foreign currencies have diminished demand, according to Miami Downtown Development Authority’s second quarter market review by Integra Realty Resources.

As waterfront land dries up, developers rush to Miami River

The Miami River — once a polluted, industrial backwater known as a favored route for smugglers — is today teeming with developers who want to build on what is practically the city’s last remaining waterfront land. “It’s the new waterfront for Miami,” said Nelson Stabile, a principal at the developer Integra Investments, which invested…

Surf Club Four Seasons hotel and residences reaches highest point of construction

Developers celebrated the topping off of Surf Club Four Seasons this week. The luxury development in Miami-Dade County’s town of Surfside is branded and managed by the Four Seasons, and is expected to open Spring 2016.

Fort Lauderdale Uptown Office Building Finds New Owner

Construction Watch: Marea Miami Beach, one of…

Marea Miami Beach, one of the Related Group’s two mid-rise residential buildings finally filling the heart of South-of-Fifth’s old asphalt desert, is looking extremely close to completion. Other Related projects about to sound the bugle to its residents are Icon Bay, Baltus House, and Hyde Hollywood…

Warren Henry Auto Group to relocate headquarters to SoLe Mia development

Warren Henry Auto Group will relocate its headquarters to the $4 billion SoLe Mia development in North Miami, which broke ground last week. The Miami-based automotive retailer said Monday it will also open a 100,000-square-foot dealership featuring Land Rover, Infiniti and Jaguar in the development formerly known…

Wynwood property with an artsy past lists for $11M

Florida East Coast sells Sunrise Corporate Plaza for $19M

Fort Lauderdale-based Stiles acquired an office plaza in Sunrise for $18.9 million, according to Broward County records. An affiliate of Florida East Coast Industries, the overarching company behind All Aboard Florida…

An amenity to appeal to buyers’ artistic sides

South Florida’s luxury condominium developers have been rolling out a host of hot amenities, from soccer fields and Hammam spas to cigar rooms and private theaters. Now comes the latest feature geared to appeal to buyers…

Take an early look at the new Miracle Mile

The New York-based design firm brought on to revitalize Coral Gables’ Miracle Mile has released new renderings of what the four-block stretch will look like when completed. Cooper, Robertson & Partners…

3 Absolute Myths About EB-5

GlobeSt.com’s Jennifer LeClaire caught up with Arnstein & Lehr partner Ronald R. Fieldstone, to wade through the myths and truths about the EB-5 program in part three of this interview…

Recovering CRE market keeping commercial lenders busy

A strong commercial real estate market means busy times for commercial lenders. Developers, investors and owners are all seeking financing today, whether they want to acquire a building, refinance existing debt or nab a construction loan for a new multifamily tower or industrial building. Midwest Real Estate News spoke to Ned Huffman…

Developers propose 13-story office condo tower near Aventura

A 13-story office condo tower has been proposed on the edge of Aventura by a group of local developers. WD 19790 LLC, a joint venture between Prive Group and H&M Development, filed an application with the county to build its project at 19790 West Dixie Highway, not far from the Aventura Mall. The plan calls for 109,156 square feet…

Condo prices and rents flattening in downtown Miami: Report

Downtown Miami condo prices and rental rates are leveling out after two years of rapid appreciation, offering another sign of change afoot in the market as supply and demand shift, a new report obtained by The Real Deal  reveals. The Miami Downtown Development Authority…

Curbed Comparisons: Exploring What $2,500 Rents You Around Miami

Welcome back to Curbed Comparisons, a column that explores what one can rent for a set dollar amount in various Miami neighborhoods. Is one man’s studio another man’s penthouse? Let’s find out! Today’s price: $2,500. If you’ve tried looking for an apartment lately, you might have noticed how…

Wells Fargo lends $29M to redevelop building on South Beach’s Lincoln Road

A building on South Beach’s famed Lincoln Road strip is being redeveloped thanks to a $28.55 million construction loan from Wells Fargo Bank. The bank awarded the mortgage to Miami-based co-owners Camford Corp. and Carib Mall Associates, led by Simon Karam and Salomon Terner, respectively.

Comment of the day re Skyrise: “The question that no one has…

“The question that no one has yet asked or answered is, will this structure be allowed to adorn any part of Skyrise Miami with commercial advertising for pay? Will it become some garish form of advertisements for vodka or anything commercial for profit? What if attendance falters and he decides to…

Renters Week 2015: Amenity Packed Luxury Rental Buildings Around Miami, Mapped

If looking to rent a new apartment with loads of amenities, many in Miami go straight to condo buildings which are often loaded to the gills with, well, everything. That, however, is just an option in the world of Miami renting, with some rental-only buildings being just as well…

Q&A with Mast Capital’s Camilo Miguel Jr.

South-of-Fifth, once a forgotten neighborhood for development, has emerged as a live-work-play destination in South Beach, stretching from Fifth Street to South Pointe Park. Louver House, at 311 Meridian Avenue, is a 12-unit boutique development…

AC Hotel in mid-Miami Beach opens Saturday

The AC Hotel by Marriott – Miami Beach, developed by Robert Finvarb Companies, will open on Saturday, marking the development firm’s second property to launch this week, amid a market-wide surge in new openings. The newly constructed AC…

What if the EB-5 Program Is Not Renewed?

Congress has extended the program 11 times but this time around there is more controversy than ever. Will EB-5 be renewed?

What Chinese Investors Really Want

With Latin American investment slowing in the wake of a stronger US dollar, Chinese investors are picking up some of the slack. But what kind of appetite do they have for American assets?

Miami Leads USA in Hotel Occupancy, Rates, Revenue

There are 8,000 new hotel rooms expected to be built over the next five years in Miami-Dade. That will add to a total hotel room inventory in the county that’s already well over 50,000 rooms, but apparently we’ll need them all. Turns out Miami hotels lead the nation in key statistics like occupancy, rate, and profitability.

Study Says Miami-Fort Lauderdale Ranks No. 2 In Startup Activity

A Missouri-based nonprofit studying trends in entrepreneurial activity ranked the Miami-Fort Lauderdale area No. 2 on its list for startup business activity. The Kauffman Foundation’s annual report ranks 40 metropolitan areas based on their startup activity.

Fairfield Residential buys site for 292-unit project in Fort Lauderdale’s Flagler Village

Fairfield Residential is adding to the home development boom in downtown Fort Lauderdale with a project in the Flagler Village area. Fairfield Flagler, an affiliate of the San Diego-based apartment developer, recently acquired about 2.5 acres spanning from Northeast 2nd Avenue to Northeast 3rd Avenue and from Northeast 7th Street…