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…

Billionaire duo Soffer and LeFrak break ground on $4B SoLe Mia project

The billionaire Soffer and LeFrak families broke ground on Thursday on one of the largest development projects in South Florida, the $4 billion SoLē Mia in North Miami. They aim to transform the 183-acre former superfund landfill at 15045 Biscayne Blvd. into a community with residential towers, upscale retail and commercial space.

Charter school building near Miami Design District sold for $18M

A building near Miami’s Design District that houses a charter school was sold for $18.36 million, or $347 per square foot, to a development group. Miami-based 3900 Biscayne LLC, managed by Nancy Karp, sold the building to 3900 Bayviews LLC, also based in Miami. Aztec Group Chairman Ezra Katz, Managing Director Jim Fried…

Commercial Property Closing Price to List Price Ratio In Lower End of Recent Range in May

The closing price to listing price ratio tracked by MLS for Miami-Dade on improved commercial property dipped back to the lower end of a range is has been in for over a year.  In the month prior, this ratio tipped 96%, a level surpassed in only 2 months since 1996, January 2011, when this ratio…

Former W E Johnson Equipment Co. HQ Trades In $2.7 Million Deal

Casal Group represented the buyer and seller in the transaction.

Dum Dum Da Dum: Did you know Miracle Mile…

Ten Legal Facts You Should Know About Renting in Miami

Miami is the country’s 5th or 8th most expensive place to rent (depending on your source), regardless of which, Miamians are still paying a premium to call this tropical oasis their (rented) home, making it all the more reason for renters to know their rights as a tenant. We all know there are so…

Developers Reveal Plans, Begin Construction At Miami Site Once Known As Biscayne Landing

When complete, the SoLeMia complex will include 37 acres of parks, two swimming lagoons, 1 million square feet of commercial space for office and retail, a hotel and more than 4,000 residential units, at a total investment of $3-$4 billion.

Sugar tycoon lands sweet $43M loan for Miramar site

An LLC led by Jose F. Fanjul Jr. obtained a $42.7 million mortgage for vacant land in Miramar, according to Broward County records. PNC Bank granted the loan to FC Miramar Phase I, which lists Fanjul, Erik Blomqvist, Oscar R. Hernandez, Juan…

Miami-Dade home buyers paying big down payments

Home buyers in Miami-Dade County put down some of the biggest down payments in the country during the first quarter of 2015, according to a RealtyTrac report.  Prospective homeowners in Miami-Dade paid 19 percent of their…

$4B SoLē Mia master-planned development unveiled

Heralding the start of their $4 billion, 183-acre master-planned community in North Miami that is aimed at revitalizing the long-vacant site of a former landfill,  LeFrak and Turnberry Associates broke ground on SoLē Mia on Thursday.  The Soffer…

Miami leads the state with low commercial vacancy rates

The city of Miami enjoyed another month of low vacancy rates, outshining all other metropolitan areas in Florida during the month of May. Vacancy rates for the city’s industrial, multifamily, retail and office markets ranked lowest in Florida, according to data…

Industry heavyweights in video talk restraint in today’s luxury market

From the New York website: Despite soaring land prices and big-ticket property sales to match, industry experts at The Real Deal‘s New Development Showcase & Forum in May said that compared with other cycles, the market is more “disciplined” and “as health…

Donald Trump files suit over Fort Lauderdale condo hotel

Donald Trump has reportedly sued the developer of a condo hotel in Fort Lauderdale, which fell into foreclosure and allegedly cost his company millions. The project in question is now known as the Conrad Fort…

Key Biscayne and Miami International Boat Show slug it out

Dueling public relations efforts by the Village of Key Biscayne and the Miami International Boat Show organizers accuse both sides of spreading false information regarding Marine Stadium & Park in Virginia Key. Parsing truth from spin can be rougher…

Florida Crystals subsidiary nabs $43M apartment construction loan for Miramar apartments

Florida Crystals’ residential development subsidiary obtained a $42.7 million construction loan for the Atlantic Commons apartments in Miramar. PNC Bank (NYSE: PNC) granted the mortgage to FC Miramar Phase I LLC, part of the West Palm Beach-based sugar producer, for the 340-unit project. It’s located on the 28.3-acre site…

Downtown Arthouse Tenants Given Notice to Make Way for Miami Worldcenter

In late 2012, a cadre of top Miami art names packed up and moved downtown into a huge warehouse last occupied by a fishing supply company. The result was the Downtown ArtHouse, a sprawling studio space for A-list names like the TM Sisters, Bas Fisher Invitational, and Turn-Based Press. Thanks to a partnership with the…

Nancy Karp sells 3900 Biscayne for $18M

Nancy Karp sold the 52,889-square-foot commercial building at 3900 Biscayne Boulevard for $18.36 million, according to Miami-Dade County records. An affiliate of Miami-based Alta Developers was the buyer, corporate records show. Alta has been involved in projects such as…

New bayfront RV park rolling into Key Largo

An upscale recreational vehicle park in development along Florida Bay in Key Largo will likely go by the name Keys Palms Resort, owner Raul Medina told The Real Deal. “We’re three months out from completion…”

In a Future of Self-Driving Cars, Will Parking Garages be Necessary?

A child beginning school today will graduate around the time futurist Ray Kurzwell had until recently projected as the year we would reach Technological Singularity, a point at which AI (artificial intelligence, aka “the machines”) gains the ability to improve and replicate (they even have a song), eerily reminiscent of dystopian plot lines…

Colliers Woos Heavy Hitter From NGKF

Rick Klepal will hit the ground running and is offering expert insights into the South Florida commercial real estate industry in this interview…

TOD Gaining Momentum in Miami

Mixed-use and transit-oriented developments are emerging as a staple of new construction across the Southeast, though they are still less visible to the capital markets…

Video: $1.8 Million Won’t Buy Downtown Miamian’s “Sacred Land”

This video talks about a Native American man called Golden Eagle (Ishmael Bermudez) that is holding out on selling his downtown Miami land, prime for commercial development, which surrounds it.

Hines lands $88M construction loan for Doral mixed-use project

An affiliate of real estate developer Hines signed an $88 million construction loan for a Doral (area trends: industrial; multifamily; retail; office) project that will feature residential, hotel rooms, retail and offices. BMO Harris Bank, as an administrative agent for multiple lenders, granted the four-year mortgage to 8800 Doral LLC, an affiliate of Houston-based Hines. It covers…

Equinox fitness chain is taking the over the industry and will be part of Brickell Heights

The chain of luxury gyms will have nearly 80 clubs by the end of 2015 and has announced plans to launch a chain of upscale hotels with focus on physical health in Los Angeles and New York. “Our client has a lifestyle of high performance,” said the head of marketing for Equinox Carlos…

Great interest of Latinamerican investors in Hollywood and Hallandale Beach

Just 10 minutes north of Miami, by the beach, there are the cities of Hollywood and Hallandale Beach, which have become one of the most prosperous areas of South Florida not only for its proximity to the Atlantic Ocean but because of its everyday dynamic and family friendly environment. Characterized…

Developer completes final new Key Biscayne condo project

Unless a new development is suddenly proposed, developers have completed the last new preconstruction condo project for the wealthy island enclave of Key Biscayne (area demographics, listings) during this current South Florida real estate cycle that began in 2011. Deeds for the newly completed 101 Key Biscayne project — officially known as the 101 Condominium…

Donald Trump sues Stillman over troubled Fort Lauderdale hotel project

A lawsuit filed by billionaire Donald J. Trump claims that the developer of a Fort Lauderdale condo hotel soiled his reputation and cost him millions of dollars when he failed to complete the project. The condo hotel at 551 North Fort Lauderdale Beach Blvd. was originally called the Trump International Hotel & Tower Fort Lauderdale.

In December, Prices For Homes In Miami Rose The Fastest Nationwide

Home prices in Miami rose faster than any other major U.S. city in December, according to the S&P/Case-Shiller Home Price released. Miami home prices rose 0.7% for the month. Nationally, home prices were down 0.1% on average for the month. For the full year 2014, Miami ranked second nationwide…

Related Group CEO Jorge Pérez in his own words on Miami’s economy

Miami’s most prolific condo developer, Related Group CEO Jorge Pérez, is understandably optimistic about the local economy’s future, yet he sees several challenges that must be overcome to make the city a more attractive place to live. “Miami is one of the top cities for…”

Fifth Third Bank funds construction of 175 apartments in Miami-Dade County

Johnson Development Associates launched its first apartment project in South Florida as it obtained a $31.1 million construction loan for a project in the Fontainebleau area of Miami-Dade County. Fifth Third Bank provided the mortgage to the Residences at Fountain Square, an affiliate of the Spartanburg, S.C.-based developer. In April…

Swire Properties to introduce the first “Climate Ribbon” in the world

Topping the $1 billion mixed-use Brickell City Centre, will be a 150,000-square-foot climate ribbon — an enormous overhead trellis made of steel, glass and fabric. It will cover the walkway of the shopping center, where there are open-air shops, escalators, restaurants and terraces. It will…

Capital At Brickell Site Sold To Chinese Investors For $75M and Will Be Redesigned

$ 74.74 million paid the buyer, who is CCC International USA LLC, a subsidiary of multinational China City Construction of Beijing and American Da Tang Group in New York. The plot of 2.78 acres had been approved for a special use permit to allow the construction of twin towers in 1.3 million square…

Florida: The new third most populated state after California and Texas.

Florida has overtaken New York and has become the third most populous US state. For its warm climate, Florida is a place where seniors in northern U.S.A and Canada decide to retire or spend the fall / winter seasons and has become not only one of the favorite destinations of South American migrants…

Executive immigration action could benefit Real Estate market

President Barack Obama’s recent executive action, designed to reform the immigration system, could help increase the rate of real estate development in Miami. One of the iniciatives calls for the modernization of programs that aim to promote the inward investment and entrepreneurship, said…

Met Square including a plaza and gallery to display historic findings.

The developers of the fourth phase of the Metropolitan Miami: Met Square, presented a plan that will include a permanent exhibition of prehistoric circles believed to be foundations for Tequesta dwellings around 2000 years ago in addition to elements of the modern history of Miami like parts of the …

$124 Million funding the construction of Echo Brickell

The luxury mega project that began construction this week got nearly $124 million to finance the rising of the 60-story and 190 unit tower from Canyon Capital Realty Advisors. Developers of Echo Brickell, Property Markets Group, claim that the purpose of this development is to achieve spectacular…

PortMiami Cargo Hits Decade Record

Demand Is Rising For CRE Loans

How much competition is there for loans? National Real Estate Investor turned to Walker & Dunlop, a national firm specializing in providing customized financing solutions to owners and operators of U.S. commercial real estate properties to find out.

Zimmerman offices in Fort Lauderdale sell at loss

Pompano Rising

As a sales and marketing professional for high-end South Florida real estate, she observes key changes in places. So when a Whole Foods Market opened in Pompano Beach, it didn’t pass by unremarked.

Keyes Commercial

Three big projects proposed in Aventura, including condo tower

Aventura has received three major development proposals in recent months that are pending before the city. The wealthy city already has a handful of projects in the works near the Aventura Mall and along the water. Now developers have designs on building another condo, a medical office building and redeveloping a shopping center.

Miami sets record as hotels lead nation

This year has brought a record number of visitors to Miami-Dade’s hotels, which lead the nation in key tourism categories. “We are No. 1 in all key hotel metrics,” said Rolando Aedo, Greater Miami Convention & Visitors Bureau senior VP of marketing and tourism. As of April, Miami’s average daily occupancy was 84.2%, up from…

Miami Worldcenter district gets preliminary approval from county

The developers of the massive Miami Worldcenter project are one step closer to getting a special district that will help finance the construction. Miami-Dade Commissioners gave preliminary approval Tuesday to the Miami Worldcenter Community Development District, the Miami Herald reports. If given final approval…

City Of Opa-Locka Picks Up 80,000 SF Mixed-Use Asset

CVS pharmacy y más taps local vendors, sets sights on national expansion

CVS Health has created a two-way relationship with South Florida’s Hispanic community with the debut of its CVS pharmacy y más brand. The specially stores aren’t solely accepting transactions from the demographics they’re aiming to attract, they’re also bringing new business to some of South Florida’s Hispanic-owned companies.

Built By Father, Sold By Son: PetMed Buildings Trade For $5 Million

The buildings were constructed in 1970 by SVN’s Les Byron, Jr.’s father, Les Byron Associates.

Miami, Key meeting on Marine Stadium

The intensity of use on Virginia Key will be one of the major topics to dominate a joint meeting of neighboring municipalities in the struggle over what to do with Miami Marine Stadium Park. The joint public meeting of the Miami City Commission and the Village Council of Key Biscayne is set for 10 a.m. to 2 p.m. June 16.

Ever Elegant Casa Felipe Building on Miami’s Coral Way Trades

James Hawkins of Keyes Commercial recently represented the seller in the $1,507,500 sale of the Casa Felipe building located at 2298 Coral Way and 2205 SW 23 Avenue in Miami. The property, on a high visibility corner on a highly trafficked corridor between Brickell/downtown Miami and Coral Gables, was constructed in 1950. The Miami-Dade Property Appraiser shows the property as…

Easton & Associates Closes Nearly 130,000 SF Of Industrial Leases

Century 21 Department Store Leases 86,000 SF at Sawgrass Mills

Century 21 Department Store has signed a long-term retail lease for 86,048 square feet at Sawgrass Mills, located at 12680 W. Sunrise Blvd. in Sunrise, FL.  The off-price retailer is expected to open its doors at the end of 2016 when it takes space currently occupied by VF Corporation.

Sky High: Examining the Many Promises of SkyRise Miami

Lawsuits, litigants and the usual Miami antics aside, architect William Hamilton Arthur IV architecturally examine the design for SkyRise Miami (video presenentation here), the latest proposed icon to be seated between the port of Miami and Bayside Marketplace.  SkyRise Miami is an iconic, entertainment-themed tower designed…

How New SEC Focus Will Affect SFL Real Estate Private Equity

South Florida real estate private equity funds: take note of a recent speech by Marc Wyatt, SEC Director of Compliance, following up on previous concerns expressed regarding fees and expenses for private equity funds. In his speech, the Director disclosed the SEC was expanding its focus beyond traditional…

South Dade offers a new vision

Tomorrow’s South Dade, a comprehensive, community-driven project defining an overarching vision for the future of Miami-Dade County south of 216th Street, is ready for distribution. The report, created through a five-month information-gathering process involving more than 200 contributors, challenges businesses…

Lawsuits against against Miami Worldcenter dismissed

Grand Central Lounge and the Omni/Park West Redevelopment Association, which have fought Miami Worldcenter through lawsuits for months, have voluntarily dismissed their suits against the developers of the massive mixed-use project, The Real Deal has…

Boca Raton office plaza sells for $23M

A Stoltz-managed office building in Boca Raton sold for $23 million, months after the owner defaulted on its mortgage, Palm Beach County records show.  Arbern Investors III, an LLC managed by Morris Stoltz, sold the…

Shaking up EB-5

From the New York magazine’s June issue: During the dark days of the credit crisis, developers discovered something of a silver bullet in a little-known U.S. immigration program. Now wildly popular and well-publicized, the EB-5 program offers a green card and potential citizenship…

Canadian investors sell Broward apartments

A Canadian group made a cool $1.3 million after selling the Camelot West Apartments in Wilton Manors. Brass Enterprises, a Toronto-based company that acquires apartment complexes, first purchased Camelot for $4.7 million in 2012. Three years later, the…

Transportation trust rolling out

Miami Commissioner Francis Suarez has put some detail on his plan to create a revenue-generating transportation trust to help meet the city’s long-term transit needs. Mr. Suarez explained the basic framework of the proposed trust at last week’s commission meeting. The transportation trust would be created by ordinance…

Ruling paves way for Institute of Contemporary Art Miami

Plans for the Institute of Contemporary Art Miami’s new home in the Design District received a significant boost yesterday. During a contentious hearing that lasted more than two…

How Miami Retail Stacks Up Nationally

Most luxury storefronts are in five major cities—and Miami (view retail property trends) is one of them. Of course, Miami offers much more than luxury storefronts, but how does it stack up?

CocoWalk Remaking Itself in New Retail Era

“Looking at CocoWalk from a national perspective, it’s clear the property has lagged behind the Grove’s resurgence.”

Alliance Residential breaks ground on Fort Lauderdale apartment complex

Alliance Residential has started construction on the Broadstone Harbor Beach apartment project along Southeast 17th Street in Fort Lauderdale. The eight-story, 349-unit community with 15 boat slips and two parking garages should be completed in the first quarter of 2017. It’s located at 1799 S.E. 17th St., near the Art Institute…

Hyatt Centric South Beach opens

Hyatt Centric South Beach Miami, a new “lifestyle hotel” developed by Miami-based Robert Finvarb Companies and its partner David Martins, is now open, the developers announced on Monday. The 105-room hotel at 1600 Collins Avenue, represents the first Hyatt Centric-branded hotel in Miami Beach, and the second Hyatt Centric…

Waterway Shoppes of Weston sold for $15M

The Waterway Shoppes of Weston sold to a Coral Gables-based company for $15.3 million.  Insumos Ferrovairos Inferca, managed by Jose I. Fernandez in Weston, sold the retail center, at 2210-2282 Weston Road, to Coral Gables-based Waterway Ventures, managed by Dylan Fonseca. Macquaire Invesments, an affiliate of Des Moines…

Megraproject du jour: Sunrise Makes Way for Massive Mixed-Use Metropica

Talk about megaprojects, out in the burbs, Sunrise’s Metropica—the 65-acre, mixed-use development—is one of the new goliaths of development projects coming to South Florida (see Downtown Doral. Brickell City Centre, Miami Worldcenter to name a few others). A design team consisting of…

Publix bags Hollywood shops for $39M

An affiliate of Fort Lauderdale-based Stiles sold Publix Super Markets a store-anchored shopping center in Hollywood, according to Broward County records.  A Publix affiliate paid $39 million for the 13.6-acre site at 1700 Sheridan Street. Other tenants of the newly…

Wynwood property triples in values as Thor Equities pays $27M

A stretch of properties in Miami’s emerging Wynwood neighborhood sold for more than triple its price of two years ago, as Thor Equities shelled out $26.9 million for it.  SBT Wynwood II, an affiliate of New York-based Tristar Capital led by David Edelstein, sold the property at 252, 268 and 286 N.W. 29th Street…

Here’s what sold between $1M and $8M this week

Vacant land near Tamiami sells for $4 million.  A four-acre stretch of vacant land near Tamiami, which was recently sold for $4 million, is likely going to become a Walmart.  The land was sold by a Coral Gables-based company, whose managing…

Why CWI Bet Big on Ritz-Carlton Key Biscayne

High barriers to entry was just one of the many reasons. Get inside Carey Watermark’s head….

Amenities Drive New Kendall Multifamily MXD

A citrus grove, dog park with grooming station, full-size soccer field, and neighborhood retail are just some of the unique amenities at this Altman development….

Behind the Deal: $88M CocoWalk Trade Dissected

Coconut Grove is attractive to many retail developers, investors and tenants. Find out why Federal Realty Trust, Grass River Property and Comras came together to buy one iconic asset there.

Stearns Weaver Team Handles CocoWalk Acquisition

Peter Desiderio, Joy Spillis Lundeen and Curtis Sitterson were part of the Stearns Weaver team that represented minority partner Grass River Property in the $87.5 million acquisition of CocoWalk.

Multifamily Construction Costs Fall, Labor Costs Rise

Worried about a multifamily construction project? At least the price of lumber and sheet rock is low, along with a long shopping list of other construction materials needed to build apartments. That may help apartment projects avoid cost overruns…