This 21 minute video from National Geographic profiles Miami International Airport, aka MIA. The presence of such an important international airport has contributed substantially to the areas growth and status as an international destination. Miami International Airport has numerous effects on the economy of Miami and in turn its commercial real estate.
More Miami International Airport related resources:
Keyes Commercial Realtors
Developer details plans for office condo in Aventura
The developer of the Aventura ParkSquare mixed-use project has revealed more about its office component. The 100,000-square-foot, ‘Class A’ office tower ParkSquare Signature is being sold as commercial condo units, Integra Investments Principal Victor Ballestas said. Already six of the nine floors have been sold…
Preservation Watch: Shore Club Can’t Demolish Historic Cromwell Hotel
The Shore Club was denied a demolition permit for the historic Cromwell Hotel, an eight story structure on the northern portion of the property yesterday, while the rest of the project was generally give a thumbs up. After a heated meeting with neighbors at the Setai, to the north…
Developer to break ground on 19-story tower in Miami’s Midtown/Design District
A 19-story residential and retail tower is about to break ground on the border of Miami’s Midtown and Design District neighborhoods. ADD Inc., now part of Stantec, is the architect and interior design firm on the District 36 project by MREG NE36, a joint venture of New York developers Mack Real Estate Group and…
Karp family picks up Biscayne office building, plans renovation
Revenge of the megaprojects: The Island Gardens superyacht marina,…
The Island Gardens superyacht marina, now under construction on Watson Island, will be ready the first week of December, a.k.a. Art Basel, says Mehmet Bayraktar, developer of the marina. The rest of the project, including the commercial and residential components (condos you’ll apparently be able…
Florida Real Estate Case Law Updates
The Court considered whether Florida’s Rule of Civil Procedure allowing for corrections of “clerical mistakes,” encompasses authorization to supplement a final deficiency judgment by clarifying the party…
Manufacturing Company To Build HVAC Plant That Could Create 200 Jobs In Miami-Dade
The Malaysia-based HVAC firm plans to form a joint venture with Miami-based HVAC/R International and build a 50,000-square-foot facility in northwest Miami-Dade County.
Silverspot Opening Our Downtown Movie Theater At Met Square In Fall Of 2016
Silverspot Cinema’s downtown Miami movie theater is scheduled to open in Fall of 2016, the company said in a release yesterday. That means that the theater will likely open on the lower levels of Met Square prior to the completion of an apartment complex on the upper floors of the project. A similar construction schedule…
Maison & Objet attendees
South Florida’s most prolific condo developer is more determined than ever to place art — paintings, sculptures…
JMH Development gets the go-ahead for Indian Creek project
New York-based developer Jason Halpern’s JMH Development has been given the go-ahead to carry out a rare demolition in South Beach, in a bid to build a 35,000-square-foot condo building at 2901 Indian Creek Drive. Halpern paid $5.65…
Industrial developer picks up 28-acre vacant lot for $12.2M
A 28-acre tract in western Miami-Dade just sold for $12.2 million to an industrial developer.
The vacant plot, located just west of the Dolphin Mall, will be transformed into a distribution center with warehouses by its new owner DCT Industrial. The company…
Skanska signs $33M contract to renovate Broward Health children’s hospital
Skanska USA signed a $32.7 million contract to renovate the Chris Evert Children’s Hospital at Broward Health in Fort Lauderdale, the company announced Wednesday. The overall plan includes 102,000 square feet of inpatient…
Watson Island marina to open during Art Basel, developers say
Island Gardens, the planned mixed-use development on Miami’s Watson Island, will open its marina in time for Art Basel this year. The $1 billion project, designed by Nichols Brosch Wurst Wolfe & Associates, will include two luxury hotels, a residential building…
Dadeland Mall announces new stores, expansions
TRD Forum: Crowdfunding competition heats up
Marty Burger, Dan Miller, Rodrigo Nino and Allen Shayanfekr at The Real Deal’s New Development Showcase and Forum. Spend enough time around tech startups, and you will inevitably hear some pretty violent analogies. The business…
What CRE Owners Need to Know This Hurricane Season
Hurricane season is right around the corner and forecasters are predicting the most active and dangerous spell in three years. Are you ready?
Video discusses a major update to the Panama Canal, due for completion in 2016, that will allow the world’s biggest ships to use the canal. This is anticipated to be a boost to the Port of Miami, and in turn the Miami area. Commercial real estate in the area likely will benefit from the increased commerce.
More Panama Canal Expansion Resources:
Design District land prices soar
Commercial land prices have gone sky high in the Design District over the past year or so, industry experts say, because it’s finally becoming a destination. There was talk among developers a while back that this small Miami neighborhood – about 10 square blocks – could never be an area of the city where people would…
Casino won’t gamble on construction now
As owners await new Florida gambling legislation, it will probably be another year or more before commercial land across the street from Magic City Casino in Miami sees a construction crane. That’s the assessment from Isadore Havenick, vice president of political affairs for Magic City Casino. The vacant parcels have been used…
Miami design board to consider big projects in Midtown, Wynwood
Two major projects in Midtown and Wynwood will go before the city of Miami’s Urban Design Review Board on May 20 for approval. A hotel with retail and office space has been proposed on the north side of the Midtown Miami retail center. Aventura Hotel Properties, a Miami-based company managed by Francisco…
RREEF Pays $111.6M for Miami’s 800 Brickell
Codina/Carr file plans for 150 apartments in West Kendall
CC Residential, led by Armando Codina and James Carr, filed an application for the second phase of their apartment project in West Kendall. The Coral Gables-based developers are already building 396 apartments at the southeast corner of Kendall Drive and Southwest 172nd Avenue. The second phase would be on the west side of the property.
Doral becomes high-end office haven
The West Dade office market, which years ago comprised buildings near Miami International Airport with small pockets near Dadeland and Kendall, now has coalesced around the Doral area, observers say, where class A space is in strong demand. “We have the only true class A building in Doral,” said Masoud Shojaee, president…
Parking Palaces: Eight-Story, Art-Covered Parking Garage Planned for Wynwood
Goldman Properties wants to build an eight-story parking garage in Wynwood that would be covered in big murals. According to renderings that dropped on The Next Miami, the building looks big and blocky, with sort of black and white, also blocky, murals dressing up the facade. A little color…
Kendall Regional Medical Center proposes expansion
Comment of the day: “This project [The Miami Beach Convention…
“This project [The Miami Beach Convention Center Hotel] fails on a number of levels – I’m in a rush, so: 1. Its massively out of proportion with its environment. 2. It situates its mass (towers) on the street side of the project – if it were rotated 180 and the height was pulled back from 17th…
Beach offices win in niche environment
Miami Beach’s office market is evolving along with the city itself, say brokers who work there. “Miami Beach was one of the pioneers of walkability and urbanism,” said Tere Blanca, founder, president and chief executive officer of Blanca Commercial Real Estate Inc., who has two floors of an iconic building at 605 Lincoln Road…
It isn’t easy being green: Icon Bay Park is Almost Finished
The Related Group has almost finished building the City of Miami’s Icon Bay Park, and you know what, it’s looking pretty darn green. The nice, roomy waterfront pocket park with a condo tower on top, held up by piloti, would make the great French architect Le Corbusier very proud. Isn’t this pretty…
Local Investors Nab Retail Site Off Of US 1 In Miami
The 6,000-square-foot building sold for $4.25 million — three times the price the 19,000-square-foot lot last sold for in December 2012.
Vote paves way for Bass Museum to expand
The Bass Museum of Art on Miami Beach will close Sunday until fall 2016 to increase programming space by 47.5% on its existing footprint with a $7.5 million city grant. The Miami Beach Historic Preservation Board voted 6-0 Tuesday to approve the partial demolition, renovation and expansion of the two-story structure at 2100 Collins Ave.
How Developers Should Respond to New Energy Codes
TLC Engineering for Architecture’s Al Lapera tells GlobeSt.com’s Jennifer LeClaire the key for developers achieving the required goals is energy modeling under new, stricter codes in part two of this interview….
Will This Aventura MXD Win With Tenants?
You don’t see a lot of development in Aventura anymore—or a lot of significant trades. How will this mixed-used development fare?
This is a nicely done promotional video for Miami Worldcenter.
Other Miami Worldcenter resources:
China City Construction In Talks To Buy Worldcenter Development Site
China City Construction Holding Group Company is looking to add a second development site in downtown Miami. They could be buying a piece of the Miami Worldcenter project. China City has held talks with the owners of Worldcenter, and negotiations are said to be ongoing. Worldcenter’s Nitin Motwani recently met…
Cushman & Wakefield Set To Merge with DTZ
DTZ has confirmed it will buy rival Cushman & Wakefield from Exor, the investment company of Italy’s billionaire Agnelli family, in a deal which will create one of the world’s largest global real estate services companies. DTZ owners, TPG Capital, PAG Asia Capital and the Ontario…
Indigo Hotel To Be Built In Brickell With 230 Rooms
HES Group and Sunview Companies are in the final stages of permitting for a new Indigo Hotel in Brickell. The hotel will include 230 rooms, according to an application filed this month (that is an increase from the 130-room, 24-story tower that the developers said they were building last year.) It is to be located at 145 SW 11th St.
Miami-Dade could sell land for FedEx distribution center
Miami-Dade County could sell land near the Homestead Air Reserve Base to the developer of a FedEx distribution center. The county commission’s Economic Prosperity Committee will consider a deal on May 14 to sell 48.9 acres to SunCap Property Group for $4.45 million. The Charlotte, N.C.-based company plans to build…
Retailer picks up Brickell building for $5.45M
Independence Realty Agrees To Acquire Trade Street Residential
Independence Realty Trust Inc. and Trade Street Residential Inc. signed a definitive merger agreement under which IRT will acquire all of the outstanding common stock of Trade Street for a mix of cash and stock, creating a leading, regional market focused, multifamily REIT.
The Wolfsonian Museum’s New Director Wants to ‘Expand the Physical Museum’
The Wolfsonian-FIU Museum has appointed a new director who promises to expand access to the museum both digitally and physically, including building an expansion to the physical museum, according to a press release. Dr. Timothy Rodgers is coming from the Scottsdale Museum…
Towering Ambitions: This Blobby Image Could be Miami’s Next Tallest Building
Anonymous real estate news website The Next Miami has just released this fuzzy (but probably authentic) rendering of a project on the Capital at Brickell/Capital Brickell Place site; a project which they claim could be the tallest building in Miami, despite Federal Aviation Administration…
Preservation Watch: The Shore Club Will be the Next Big Preservation Showdown
Historic preservationists, as well as neighbors to the north in the Setai, are up in arms against the latest proposed alterations to the Shore Club. The old plans, by architect Isay Weinfeld and architects of record ADD Inc. (renderings above and below), were deferred at last month’s preservation…
Apartment building in Wynwood trades for 2.5x last sale price
BBX gains traction as a real estate developer
Fort Lauderdale-based BBX Capital, the rebirth of the former bank holding company known as BankAtlantic, has graduated from a caretaker to an active developer of South Florida properties that the former bank repossessed.
A broad recovery in…
Global Investors Wanted This Kendall Retail Asset
As the retail market in Miami continues tightening, investors are finding it more difficult to find prime acquisitions in hot submarkets. There was plenty of competition for this Kendall shopping center…
Warning: Energy Codes About to Get Tougher
Al LaPera is working to spread the word and offers some exclusive insights for GlobeSt.com readers in part one of this interview.
Groovy Slideshow: South Florida Communal Office Space Attracting Techies
The new wave of Miami-area shared office space operators create value for their clients by providing connections in their networks and valuable services to their tenant communities.
Wynwood V. Design District: Different Strategies for Thor
It looks like New York’s Thor Equities LLC won’t be bringing bulldozers into Miami’s Wynwood neighborhood, where it has acquired whole blocks the past two years.
Construction Brickell City Centre has made substantial progress, with Rise and Reach, its condo towers, topping off this year and the skeleton of its innovative “Climate Ribbon” – at a cost of $30 million – already in place. N25, an aerial company, flew a drone over the ongoing construction project and recorded some incredible views of the its progress.
The $1.3 billion, seven-acre Brickell City Centre will have:
Construction, which began in June 2012, is now more than 80 percent complete. This project is bound to have a major effect on commercial property listings in zip code 33131, where Brickell City Centre is located, and general economic activity in the area.
More information about Brickell City Centre:
Keyes Commercial Offices
Market Trend: South Florida Office Vacancy Decreases to 12.4%
The South Florida Office market ended the first quarter 2015 with a vacancy rate of 12.4%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 222,580 square feet in the first quarter. That compares to positive 1,185,983 square feet in the fourth quarter…
South Beach retail project scores $18M construction loan
Terranova Corp. received an $18.25 million construction loan for its retail project on Lincoln Lane in South Beach. PNC Bank (NYSE: PNC) awarded the mortgage to PPF 723 Lincoln Lane LLC, an affiliate of the Miami Beach developer led by Stephen Bittel, for the 20,563-square-foot site. After acquiring it for $33.2 million…
Miami Beach Convention Center hotel plans revealed
Portman Holdings proposed its $405 million plan for the Miami Beach Convention Center headquarters hotel to the city on Thursday. The plan for the 800-room resort, which is now being reviewed by a Miami Beach evaluation committee, includes several pools, a fitness center, spa and business center. Guest rooms will “float” over…
JV Acquires 80% Interest in Miami’s CocoWalk
Federal Realty Investment Trust (NYSE: FRT) along with local market partners Grass River Property and The Comras Company have acquired an 80% interest in the CocoWalk lifestyle center at 3015 Grand Ave. in Coconut Grove, FL for $70 million. The purchase price was based on a total valuation of the…
Publix Purchases Fort Lauderdale Location for $22.5M
Financial Center at the Gardens Sold in PBG
JPMorgan Investment Management recently sold the Financial Center, a 188,772-square-foot office building at 3801 PGA Blvd. in Palm Beach Gardens, FL. The building sold for $63 million, or approximately $334 per square foot, to buyer KBS Realty Advisors, a private equity real estate company founded…
EDENS Acquires Whole Foods in Downtown Miami
South Carolina-based Edens, Inc. has purchased the recently-opened Whole Foods supermarket at 299 SE 3rd St. in Miami, FL from P & G Development, Ltd. for an undisclosed price. The retail property is part of the MET 3 development currently underway. Construction has started for 462 residential…
Market Trend: South Florida Industrial Vacancy Decreases to 5.8%
The South Florida Industrial market ended the first quarter 2015 with a vacancy rate of 5.8%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 2,137,539 square feet in the first quarter. That compares to positive 1,654,923 square feet in the fourth quarter…
Mercantil Commercebank sells 14 acres in repossessed Miami-Dade land
Mercantil Commercebank unloaded 14.3 acres of land it repossessed in the Naranja Lakes community of southern Miami-Dade County. The Coral Gables-based bank received 51.1 acres in two locations from Veranda Holdings and Naranja Lakes Holdings, both managed by Jupiter developer George de Guardiola, in 2013 in exchange…
20-Property Health Care Portfolio Sold For $117M
A private non-traded REIT has purchased a portfolio of 20 radiation oncology centers in Florida, California, Nevada, West Virginia and Kentucky for just over $117 million. A group of physicians affiliated with the portfolio’s net-lease tenant, 21st Century Oncology, sold the medical office building…
Proposed Miami Beach Convention Center Hotel Design Towers Over All of South Beach
Portman Holdings, the only team bidding for the Miami Beach Convention Center Hotel RFP, has unveiled their proposed design for the hotel. Located between the convention center and the Fillmore Jackie Gleason Theater, the structure is designed as a single curved slab shaped like the Fontainebleau…
Is Urban Renewal Miami’s Next Economic Engine?
Miami may soon join the ranks of other major U.S. metropolises boasting innovative urban trail projects that have transformed neighborhoods and ignited a firestorm of private investment. The Underline, a proposed development catalyzed by the nonprofit group Friends of the Underline in partnership…
Thor Equities leases 10K sf Wynwood property to La Embajada
New York-based Thor Equities leased one of its Wynwood properties to a restaurant, coffee bar and venue.
La Embajada will lease 5,000-square-foot building with 150 feet of frontage on Northwest 28th Street and Northwest…
Downtown Doral’s first resi tower, 5252 Paseo, is sold out
The first residential project of Codina Partners’ Downtown Doral is sold out, The Real Deal has learned.
5252 Paseo, a 203-unit 20-story tower sold mostly to foreign investors from Latin America, Codina Partners CEO Ana Codina Barlick told…
18 townhouses proposed for U.S. 1 get first nod
A redevelopment plan to raze four single-family homes along a small stretch of U.S. 1 near the Miami Science Museum to make way for an 18-unit townhouse development cleared its first hurdle recently. At its regular meeting on May 6, the Miami…
Terranova gets $18M construction loan for Lincoln Lane
As development ramps up for the former home of H&M and Gap pop-up stores off of Lincoln Road, the developer, Terranova Corp., received an $18.25 million construction loan this week. Terranova’s plans for Lincoln Road’s spillover expansion into Lincoln Lane…
What Gives BAC Colonnade an Office Edge
GlobeSt.com caught up with Danet Linares, vice chairman of Blanca, to get her thoughts on how BAC Colonnade is keeping up with newer buildings in part one of this interview.
Miami-Dade College Reaches $33.5 Million Settlement Over Garage Collapse
The settlement with Ajax Building Corp. and 21 other subcontractors, which includes $26.5 million plus forgiveness of a $7 million contract balance, was reached after a year of mediation.
Better known by his stage name of Vanilla Ice, South Florida raised Robert Matthew Van Winkle burst into popular culture with his 1990 super hit Ice Ice Baby, the first hip hoop single to top the Billboard charts. Over the years, his career has evolved, most recently into television as the host of a DIY show The Vanilla Ice Project. He is still best remembered, however, for Ice Ice Baby and its ever classic line, “word to your mother.”
Other Vanilla Ice Resources:
What is the relationship of this to commercial real estate in Miami? Truth is, there isn’t much of one, other than the attention Vanilla Ice brought to South Florida and in turn to the prospect of doing business here, all of which is good for commercial real estate. A case could be made that Vanilla Ice was small part of a chain of exposure, both positive and negative, but exposure nonetheless, that put Miami “on the map” and thus served as a foundation for future explosive growth. If there is one thing that is universally good for commercial real estate, it is explosive growth.
Word to your broker. Dah dah dah da da da da.
Downtown Miami
Rumormongering: Is Brickell’s Biggest Hole Getting Miami’s Tallest Building?
The Chinese consortium that bought the former Capital Brickell Place site, which has been sitting empty for years and as of right now is the biggest open hole in the ground in Brickell, is claiming on its website that they are building the tallest building in Miami there, according to The Next Miami…
300-foot-tall convention center hotel proposed for Miami Beach
Portman Holdings unveiled its plans on Thursday to build a 300-foot tall, 800-room convention center hotel on top of the Fillmore Miami Beach’s parking lot by November 2018 — if, that is, it’s approved…
Florida’s Recovering Banking and Financial Services Industry
As the banking and finance sector continues recovering from the Great Recession, there’s been a shift in recent leasing activity with banks and financial services seeking reductions in their office and retail footprints, according to a new JLL report. JLL’s 2015 North American Banking…
PortMiami and Port Everglades rank in Top 15 for shipping by CBRE
CBRE considers PortMiami and Port Everglades among the Top 15 ports in North America for cargo logistics. In its first annual “North America Ports Logistics Annual Report”, the brokerage firm evaluated the ports based on their infrastructure and the surrounding real estate market. All but two ports in the Top 15 are in the United States.
Retail space in downtown Miami condo sold for $27M
Market Reports: Miami is the 8th Most Expensive Metro to Rent, Unsurprisngly
According to real estate rental listing site Zumper, Miami is the eighth most expensive metro area in the United States to rent, with median rents at $1,800 a month. This figure includes all the listings that Zumper tracks, which admittedly is only a slice of the picture and might not…
Owner of commercial buildings in Fort Lauderdale files Chapter 11
A Chapter 11 filing by the owners of two commercial buildings in Fort Lauderdale has stalled a foreclosure auction with taxpayer dollars at stake. Davie-based Regent Bank previously won foreclosure judgments of $2.1 million and $304,250 against MJ Investment Holdings, Sixth Street Plaza and managing member Maria J. Freeman.
Buena Vista Homeowners Object to Replacing These Three Blah Houses With a Sculpture Garden
Some Buena Vista East homeowners aren’t too happy about the encroachment of the new Institute of Contemporary Art on their neighborhood, a symbol of the perceived expansion of the Design District into the historic residential area. At yesterday’s Planning, Zoning, and Appeals…
North Miami Beach apartments sold for $21.5M
Wynwood Art District Photos: From industrial center to hipster haven
When visitors come to Miami’s Wynwood neighborhood, they may come for the shops, they may come for the coffee or the bread or the beer. But before the shops and food, there was the graffiti, acres of it lining the walls of the neighborhood.
Pinecrest Shopping Center Trades For $32 Million
The 96,075-square-foot shopping plaza that sits on a 5.2-acre lot last sold in 2005 for $21.5 million.
Ram, Pinnacle announce plans for former Hollywood mobile home park
Ram Realty Services and Pinnacle Housing Group announced plans to build a luxury rental community and a 6-acre public park in Broward. The development will replace an existing mobile home park that sits on 21 acres in Hollywood. Sheridan Station will be the first large…
Nakash family takes out $17M mortgage for Setai units
The Nakash family, which purchased the Setai Hotel for $90 million in December, has just taken out a $17 million mortgage on nine units from the building’s condo portion. Nakash Holdings, Joseph Nakash, Ralph Nakash and several LLCs obtained a mortgage from…
D.R. Horton picks up 12.5 acres in Broward for $6M
41National homebuilder D.R. Horton bought 12.5 acres in Oakland Park, Broward County records show. Eastside Village Lofts sold two vacant lots along North Dixie Highway for $5.9 million, according to a deed recorded Thursday. Scott Brenner…
North Miami Beach apartment portfolio sells for $28M
Three apartment complexes in North Miami Beach sold for $28 million, according to Miami-Dade County records.
The acquisition was carved out of a portfolio of nearly 700 rental units, listing agent Roy Faith of FIP Realty told The Real Deal…
Downtown Miami condo supply can weather looming bear market, experts say
Two months after Miami’s Downtown Development Authority released a report signaling a slowdown in the downtown condo market, its author told The Real Deal that there’s enough buyer demand to keep up with the current inventory of units until the latter part of 2016.
Institute of Contemporary Art, Miami faces criticism
Rendering of the Institute of Contemporary Art Miami, designed by Madrid-based Aranguren & Gallegos Arquitectos
The Institute of Contemporary Art, Miami’s plans for a new 37,500 square-foot-home and 15,000 square-foot adjoining sculpture garden in the Design District is being met with stiff…
The X Factor for Distressed Condo Investors
Will it be business as usual for distressed bulk condo investors in the face of these factors or will it deter savvy players from entering the market?
Bills Spell Bad News for Bulk Condo Investors
Pending legislation before Florida lawmakers could dissuade bulk condo investors from betting on distressed assets. Find out what you need to know…
Chief Executive Magazine Lists Florida as 2nd Best State for Business
Check out this list. Chief Executive magazine (published since 1977) is the definitive source that CEOs turn to for insight and ideas that help increase their effectiveness and grow their business. Chief Executive Group also produces e-newsletters and online content at chiefexecutive.net and manages…
This building, which sold a few months ago for $14 million, is located off 5th street (area demographics) in Miami Beach. The building, which is just over 43,000 square feeet and located at 429 Lenox Avenue, was apparently tied up in litigation for a while due to a lender filed a lawsuit against managing members Leon Cohen and Maurice Cohen. They were later sentenced to prison for tax evasion.
Every property has a story. Some are more “involved” than others.
Keyes Commercial Realty
Cofe Properties sells Pinecrest shopping center for $32M
A shopping plaza in Pinecrest that houses local offices for brokerages Coldwell Banker and EWM Realty was just sold for $32 million. The Pinecrest Town Center, at 12651 South Dixie Highway, is a 96,075-square-foot shopping plaza that sits on a 5.2-acre lot. It houses mostly…
Q&A with Aventura ParkSquare’s Victor Ballestas
Vacant land is scarce in Aventura, where Integra Investments will develop an 8.5-acre mixed-use community, complete with condos, senior living, a select-service hotel, offices and retail, slated to open in early 2017. Integra Principal Victor Ballestas…
China City Construction Completes Preliminary Approval At Brickell Site Where They Plan Miami’s Tallest Building
It isn’t Easy Being Green: Related Donates Icon Bay Park to City, Makes Millions Off Deal
Edgewater just got its first new park in a long time and, designed by Arquitectonica, it’s small but quite pretty. There’s a dog park, a sculpture garden, the works. The Related Group has just officially donated the almost-complete Icon Bay Park to the City of Miami according…
Starchitecture Watch: Hey, Let’s Examine Rafael Viñoly’s Miami River Waterfall
The 30 foot tall, three story waterfall that starchitect Rafael Viñoly has designed for the as-yet-unnamed tower (River Village is a working title) that Kar Properties is building on the Miami River will appear to fall out of the building’s amenity deck pool, and sort of give the impression…
Get ‘Er Done: Baylink Planners Don’t Want to Blow Four Years to Study It
The Baylink task force, the committee of South Florida government leaders tasked with planning the Miami-Miami Beach rail link might not pursue an environmental impact study for now because that study would take four years, and instead want to separately study light rail in each city, with a…
Real Estate Crowdfunding Company Fundrageous Launches At eMerge
Bernie Navarro, president of Miami-based private lender Benworth Capital Partners, introduced conference attendees to Fundrageous, a platform that will allows accredited investors to participate in first mortgages for residential investment or commercial properties.
Matsuri sushi to roll into Coral Gables
A new restaurant is joining Miracle Mile, The Real Deal has learned. Matsuri Japanese Sushi Restaurant signed a seven-year lease at 230 Miracle Mile and will replace 100 Montaditos, Terranova Corp. told TRD. The Japanese eatery will occupy 2,840 square feet and will include…
Related donates Icon Bay park in Edgewater to city of Miami
The Related Group donated a park to the city of Miami, adjacent to the 42-story, 301-unit Icon Bay development.
Icon Bay Park, at 455 Northeast 28th Street, will be designed by ArquitectonicaGEO, and will include water fountains, and exotic and native plants, according…
Renovated Plantation office park gets 55,400 sf in new leases
TRD insider interview video with Carlos Melo: Recognizing potential in real estate
As real estate professionals mingled at The Real Deal‘s Broward Real Estate Forum & Showcase, TRD’s Managing Editor Ina Cordle discussed the industry with developer Carlos Melo of the family-operated Melo Group.
Melo talked about seeing potential in Miami’s Edgewater…
Avison Snags Heavy Hitting JLL Duo
“In order to remain at the forefront of our highly competitive industry, Avison Young recognizes the need to continually add new resources to the company.”
This new video shows what Paramount Miami Worldcenter will look like at night. Very cool.
Paramount Miami Worldcenter will transform Downtown Miami (view area demographic trends). It will not only offer residents ultra-luxury condos, it will also offer a luxury lifestyle, day and night. The scale of it has already changed, and is bound to continue to change, the balance of downtown for commercial real estate development.
Downtown Miami
TotalBank lends $34M to build hotels in west Miami-Dade
TotalBank granted a $34.27 million mortgage to affiliate of Boca Raton-based Procacci Development to build a pair of hotels near the Dolphin Mall in Sweetwater. The Miami-based bank made the mortgage to Procacci Dolphin and Procacci Sweetwater. They started construction in late 2014 on a Hilton Garden Inn and a Homewood Suites…
Developer Of Twin Miami River Towers Spending $6.2 Million To Add Density
Kar Properties will pay $6.2 million to purchase additional development rights for their proposed 60-story twin tower project on the Miami River, a representative of the developer told a review board last month. The purchase will allow for an additional 480,000 square feet to be built on the top 24 floors of the towers.
Grow America Act could fuel highways
By all accounts, the economic success of South Florida depends in large part on the efficiency of its transportation infrastructure and needs adequate funding for maintenance as well as new projects, which the proposed Grow America Act promises to ensure through steady funding.
Related Group hands Miami a park for free
As developer The Related Group is busy putting finishing touches on its waterfront condo tower Icon Bay, work in also progressing on a new adjoining park – a public park. The developer dedicated a portion of land as a park, and gave it to the City of Miami. City commissioners recently accepted the land and approved a new plat…
Repossessed Plantation Crossroads sold at 51% discount
The Plantation Crossroads office and retail center sold at a 51 percent discount to its foreclosed mortgage.
An affiliate of a commercial mortgage-backed securities (CMBS) called JPMCC 2004-CIBC10 Plantation Complex seized the property at 1802 through 1876 N. University Drive, and 7811 West Sunrive Blvd. in Plantation…
Five significant developments proposed in Miami Beach
Five significant renovation and expansion projects are slated to go before the Miami Beach Historic Preservation Board, including big changes at two longstanding hotels and a museum. These items are on the board’s May 12 agenda to consider their impact on historical structures. If approved, they would need other city boards…
Fond Farewells: This Saturday, the venerable Art Gallery at 800 Lincoln Road…
This Saturday, the venerable Art Center South Florida had the last opening ever at its 800 Lincoln Road location. The art center was a big part of South Beach’s resurgence in the 1980s and 90s. The building was originally Burdines Department Store’s first Lincoln Road location, and will be converted…
Miami Museums building new facilities
Miami’s reputation as an emerging world-class cultural hub is gaining strength as museums and galleries work on new facilities for even better display of their collections. On the horizon is the Cuban Museum, scheduled to open Nov. 20 at 1200 Coral Way with an inaugural exhibit once the complete overhaul of its building is done.
Preservation Watch: Lincoln Road Church Development Lawsuit Thrown Out
The lawsuit filed by historic preservationists to stop developer David Edelstein from building a multi-level retail building in the courtyard of the Miami Beach Community Church has just been dismissed by the judge, and the developer hopes to start construction in 16 weeks. The courtyard is not…
Reasons Why One JV Paid $88M For CocoWalk
Surrounded by new residential towers, hotels, offices, schools, parks and marinas, CocoWalk’s tenants serve more than 150,000 Coconut Grove residents and millions of visitors each year.
Back to the drawing board for Crescent Heights’ SoBe project
Members of the Miami Beach Design Review Board on Tuesday rejected new proposals submitted by mega-developer Russell Galbut and called for design changes to be made to a mammoth, planned South Beach condo project…
Report: Miami home prices keep going up
March marked yet another month that home prices in Miami rose, according to a report from CoreLogic released Tuesday. The report stated that the city’s home prices jumped 7.1 percent when compared to March of 2014. Prices also grew 1.1 percent…
Proposed legislation could alienate bulk condo buyers
A new law designed to protect property owners being squeezed out of their homes could scare away bulk condo investors from Florida, some prominent Miami-based real estate attorneys told The Real Deal. Last week, the state Senate and House approved legislation that tightens the screws…
TRD insider interview video: Why Fort Lauderdale?
Following a lively panel discussion, at The Real Deal‘s Broward Real Estate Forum & Showcase, TRD South Florida‘s Managing Editor Ina Cordle sat down with Bradley Deckelbaum of Premier Developers to weigh in on the amenities that Broward, and specifically Fort Lauderdale…
How Key Biscayne is Dealing With Rising Sea Levels
Why One JV Paid $88M for CocoWalk
Coconut Grove posts some of the strongest year-round income demographics in South Florida. That’s just one of the reasons a three-way joint venture grabbed an 80% stake in the asset….
Why Greater Miami Needs Key Biscayne
“There are few major cities with an island destination like Key Biscayne so close to a growing urban core.”
Ted C. Jones PhD, Chief Economist and Senior Vice President at Stewart Title Guaranty Company, makes some interesting points about commercial and residential real estate in Miami. It is worth taking the time to watch it, particularly for anyone currently invested or considering investing in Miami area commercial real estate, or anyone involved in the industry, particularly Commercial Realtors.
For more information about this topic, check our Dr. Jones pdf The New Normal related to this presentation.
Keyes Commercial Real Estate
Codina Breaks Ground On 2020 Salzedo, A 213-Unit Rental Project In Coral Gables
In Coral Gables, developer Armando Codina has commenced construction on 2020 Salzedo. The project will include: 213 apartment units in a 16-story tower; 53,452 square feet office space in a six story building; 4,334 square foot retail space; 566 parking spaces in a seven story garage. Codina is asking $45 per square foot…
Sky’s the limit on land prices
Land-hungry developers from around the globe are buying up sites in Miami-Dade County for tens of millions of dollars per acre, spurring record sales. Among the sky-high prices: nearly $75 million paid for 2.4 acres in Brickell, $64 million for 7.4 acres in Miami’s Arts & Entertainment District, and $75 million for 4.5 acres in…
Proposed Alton Road Crescent Heights Wave condo project to expand
A fifth building is being added to Crescent Heights’ Wave condo project in South Beach, by the Alton Road flyover.
The design of the proposed 60-foot tall, 96,105-square-foot condo at 659-737 Alton Road will be presented…
The Great Outdoors: Donald Trump Trumped for Crandon Park Golf Course Bid
Donna Shalala Rekindles Discussion of Hurricanes Playing in Beckham’s New Stadium
The Miami Hurricanes play in a professional stadium that’s probably twice as big as what they need. David Beckham has a proposed MLS franchise that needs a new, smaller stadium of its own to call home. It’s been apparent to some any new stadium should be a mid-sized building that could fit both teams.
Miami Loop: Linking together the proposed Underline,…
Linking together the proposed Underline, Ludlam Trail, and Miami River Greenway with a fourth section that runs from the Miami River to the Ludlam head, south of Miami International Airport, and a complete-loop is created which could be the basis for a network of bicycle and walking trails around Miami…
Judge Tosses Lawsuit Over Retail Center Next To Lincoln Road Church; Construction Could Begin In Weeks
A developer has been cleared to begin work on a new retail center next to Lincoln Road’s historic church, after a Dade judge dismissed Miami Design Preservation League’s lawsuit this week that challenged the approval process. The legal battle may not be over, however. MDPL’s Daniel Ciraldo told TNM that the League may…
Rendering Reveal: New Renderings, Developers, Name for ‘Boulevard 57’ Condos
The boomerang-shaped condominium planned for Biscayne Boulevard and 57th street that was designed by Sieger Suarez has a new name: Boulevard 57, and is launching sales September 1st. The 107 unit building will be developed by its owners, Unitas Development Group, instead of former management firm…
Construction Accelerates At 51-Story Biscayne Beach, Where 95% Of Units Have Been Sold
With Miami real estate prices on the rise and inbound investment pouring into the market at record pace, East Edgewater newest luxury condominium is moving onward and upward. Vertical construction at Biscayne Beach, a 51-story waterfront tower located at 711 NE 29th Street along Biscayne Bay, is well underway…
CocoWalk sells to Federal Realty, local partners for $87.5M
Commercial firms embrace Instagram
From the New York website: Residential brokerages awakened to the benefits of Instagram ages ago. But recently, commercial firms have begun harnessing the power of snapshots to promote their brands, too. CBRE Group, JLL and Cushman & Wakefield have all…
Sales heat up in area from Wynwood to Design District
Vacant 6-acre Miami River site on the market
Swing and a miss: Trump drops proposal to manage golf course
Donald Trump has reportedly backed out of his offer to renovate and manage the Crandon golf course on Key Biscayne. Trump proposed a $10 million makeover for the course on his dime, in exchange for a 99-year contract where he would manage the golf course.
Baptist picks up Coral Gables office building for $12.5M
Co-working space WeWork opening in Miami Beach in July
WeWork, a New York-based company that operates dozens of co-working spaces in three countries, will open its first venture in South Florida this summer. And, when WeWork does open, it will have a “pool party” and beach-goer ambiance, according to Karen…
Key Biscayne Dukes it Out With Miami Over This Site
The City of Miami wants to convert the public waterfront land to year-round commercial event space, which would include the Boat Show. Key Biscayne’s major doesn’t think that’s such a good idea.
