Jason Halpern’s JMH Development sells Indian Creek Drive property for $7.75M

Jason Halpern’s JMH Development just sold its Indian Creek Drive property for $7.75 million, ending its plans to build a condo project on the Miami Beach site. Records show 2901 JMH LLC sold two parcels, at 2901 Indian Creek Drive and 2922 Indian Creek Drive to 29 ICD LLC with a Brooklyn, New York address linked to Madison Estates Real Estate. The buyer is also linked to Gerard Longo and another entity, Three Stones LLC. JMH took back a $5.25 million mortgage…

Video with Victor Calanog of Reis on the Potential Effects on Commercial Real Estate of a Donald Trump Administration

Victor Calanog, Senior Economist and Senior Vice President with Reis, a leading commercial real estate market information and analytical tools provider, discusses potential effects a Donald Trump administration on the economy overall with a concentration on commercial real estate. The video…

Firm opens Brickell office to manage $10.5B in real estate

TH Real Estate has opened an office in Miami’s Brickell to manage a $10.5 billion commercial real estate portfolio with in the Southeast U.S. and Latin America. The company, a division of TIAA Global Asset Management, leased about 3,500 square feet in the Courvoisier Centre on Brickell Key. Manuel Martin has relocated from the company’s Madrid office to lead its Miami office.

Brickell City Centre announces free parking, Uber partnership

In a wise decision to make Brickell City Centre more attractive and accessible to customers, Swire Properties announced a couple of transit-oriented nuggets this morning, including free parking and a partnership with Uber. Effective immediately, there will be complimentary parking for two hours at the underground garage at the $1.05 billion mixed-use development. However it’s only for a limited time. As for the Uber partnership, there are also now designated pick-up points…

Publix faces unprecedented competition from rivals

Publix Super Markets, a ubiquitous anchor at Florida shopping centers, faces the most competitive environment in its history as rivals expand their presence in the Sunshine State. The Tampa Bay Times reported that Lakeland-based Publix has gradually lost market share to Whole Foods Market, Trader Joe’s, The Fresh Market and to grocers that recently entered the Florida market, including Lucky’s Market and Sprouts Farmers Market.

A developer wanted more residential units. The city of Doral said no, so the developer sued.

A development company is suing the city of Doral after the City Council refused to increase the density of its project even though the company said it met all of the city’s requirements. The three council members who voted against the measure — former Mayor Luigi Boria and Councilwomen Christi Fraga and Ana Maria Rodriguez — cited concerns over increasing the city’s density. Shoma Group, a firm spearheading a mixed-use project dubbed “Sanctuary at Doral” along…

24-Story Mixed-Use Project With Hotel Coming To Brickell

Cranes are not going out of business any time soon in the heart of booming Brickell with a new “neighborhood style hotel” and retail, as well as possible commercial and residential components.

CBRE has been tapped by the banking giant to market its 7,400 SF Citibank South Beach branch at the corner of Washington Avenue and 17th Street in a deal that could see it trade in excess of $20M, according to The Real Deal. That’s because the 30k SF lot the bank sits on is zoned for high-density commercial, where a developer can build up to 82k SF, depending on use, CBRE’s Paul Weimer told the publication. “We think a hotel is the highest and best use, but it could be…”

How Not to Build a Supermall: $5 Billion, 5 Governors, 3 Developers, and 15 Years

Don Ghermezian wants to pitch us on the American Dream, but he has a few conditions. First, we’re not allowed to record his eight-minute presentation. Second, we can ask him only a few questions, at the end. Third, if they’re about his family, he won’t say much. “This is a $4.8 billion project that will be the center of the universe,” he says, promising we’ll be impressed. If not, “you’ll be the first ever to leave here without thinking, ‘Holy shit. These guys are incredible.’ ” Ghermezian is…

Muse Residences in Sunny Isles Beach tops off

The 68-unit luxury tower reaches a milestone Muse Residences in Sunny Isles topped off a few days ago, with the 68-unit luxury tower expected to be completed in early 2018, per the press release. Developed by Property Markets Group and S2 Development, the 659-foot development was designed by Carlo Ott…

Eric Trump replaces Donald Trump as president of hotel business: Florida records

Ivanka Trump, Donald Trump and Eric Trump during the grand opening of Trump International Hotel in D.C. in October. President Donald Trump has been replaced by his son Eric as president of Trump International Hotels Management, records filed Monday with the Florida Secretary of State…

Miami River Commission says no to waterfront restaurants on industrial land

From left: Renderings of the restaurant on the Anchor Marine site, Henry Greenberg, and Shahab Karmely on right. Citing a need to preserve marine related businesses, the Miami River Commission dealt a serious blow to a pair of unrelated waterfront restaurant proposals. At a special hearing on Monday…

FIU, PCM Sign Leases at Flagler Corporate Ctr

Two tenants have leased a total of 30,000 square feet in the Flagler Corporate Center office building at 9250 W. Flagler St. in Miami, FL. Florida International University (FIU), Miami’s only public research university, leased 14,000 square feet to house its Herbert Werheim College of Medicine…

Atkins NA Leases 26,000 SF at 800 Waterford

Design, engineering and project management consultant Atkins North America is the first tenant to lease space in 800 Waterford Way, the spec 10-story, 246,085-square-foot class A office building under construction in the Miami Airport submarket. Atkins NA took the entire seventh floor, signing…

Video: An Update for Investors on the United States Lodging Industry

Senior Managing Director and Head of Lodging Research for CBRE discusses the current status of the lodging market.  Among the topics discussed are occupancy, average daily rates, growth, development, and revpar.  He is interviewed by Michael Bull, a broker in Atlanta and the host of The Commercial Real Estate…

Miami-Dade County Commission Approves Incentive-Driven Workforce Housing Ordinance

On December 20, 2016, the Miami-Dade County Board of County Commissioners approved an Ordinance proposed by Commissioner Barbara Jordan that provides incentives for builders to offer workforce housing units in new developments within the County. The Ordinance addresses the oft-discussed countywide…

Waterfront Bay Harbor Islands development site hits the market for $11M

A development site with plans for a boutique luxury residential project on the water in Bay Harbor Islands hit the market this week for about $10.85 million. Records show Sina LLC and 9740 W Bay Harbor Drive LLC own the 22,500-square-foot development site at 9740-9760 West Bay Harbor Drive. It’s listed for sale with Veronica Fratto and one of the owners, Elias Sabbagh. Sabbagh told The Real Deal that he and his partners are looking to either sell the site or joint venture with a developer.

NY and SoFla real estate firms TSG Paragon Development, The Solution Group, Paragon Group, and others battle for the name “Cassa”

New York-based Assa Properties is suing a South Florida real estate joint venture in federal court to stop using “Cassa” in its branding. In the recently filed lawsuit in the U.S. Southern District of New York, Assa accuses TSG Paragon Development, The Solution Group, Paragon Group of South Florida and 16 related shell companies of trademark infringement, unjust enrichment and consumer fraud, among other claims. Assa attorney Richard J. Migliaccio declined comment. The firm…

TIAA Division Opens New Office To Spend Billions In Southeast U.S., Latin America

A division of TIAA, one of the world’s largest real estate investment managers, is putting shopping centers in the southeastern U.S. and Latin America high on its shopping list. TH Real Estate — the third-party investment management platform of TIAA Asset Management — will focus on urban and neighborhood retail centers in the Southeast this year as part of its expected outlay of billions in equity and debt for 2017. Manuel Martin, head of TH Real Estate’s newly opened Miami office…

Sunny Outlook for South Florida Commercial Real Estate

South Florida’s commercial real estate community expects the industry to continue its upward performance this year despite the nation’s bumpy political climate and Miami’s looming inventory of luxury condominiums. Aside from a potential oversupply in new retail development and a tighter Miami-Dade County office market, industry experts showed little concern about the direction of the market in 2017 at a conference Wednesday. The conversation was relatively upbeat for the CCIM…

Candy maker Mars inks sweet lease at Brickell City Tower

Mars Inc. is among the newest group of tenants to sign leases at Brickell City Tower, sources told The Real Deal. The candy, food and pet food manufacturer signed a new-to-market lease for 7,459 square feet at the Brickell office building, at 80 Southwest Eighth Street. (Mars brands include M&M’s, Skittles, Snickers, Uncle Ben’s Rice and Pedigree pet foods.) Blanca Commercial Real Estate announced the deal as a “global consumer goods company” but declined to name it. Danet Linares…

Homeowners band together to sell property near Miami’s Design District, asking $18M

How’s this for neighborliness? Betting that there is strength in numbers, a group of homeowners who have watched property values in Miami’s Design District surge in value have banded together to market their sites as an assemblage, asking $18 million. At that price, the combined 30,000-square-foot property on the edge of the district would sell for $600 per square foot. Key to the sale: the assemblage can be upzoned from T-4 to T-5 commercial, allowing for up to 81 feet, with 104 hotel…

Booming South Florida real estate market won’t stop in 2017, says new survey from law firm Berger Singerman

The election of Donald Trump, combined with a growing domestic economy, is helping restore confidence among real estate professionals. Despite the initial uncertainty following the Presidential election, South Florida real estate professionals have an optimistic outlook on the commercial real estate market in 2017, according to a new survey released today by Berger Singerman, Florida’s business law firm. Results from the third annual survey show that the majority…

Watch the concrete pour of Residences by Armani/Casa in Sunny Isles Beach

Utitlizing over 1,400 concrete trucks The foundation has been poured at Residences by Armani/Casa in Sunny Isles Beach, with over 1,400 concrete trucks pouring 13,200 cubic yards of concrete amid a 30-hour span led by Coastal Condominiums. The luxury 56-story tower with an estimated cost of $1 billiion…

Real estate markets across Miami-Dade County steady

Brexit and the US elections were among factors that made 2016 a stable and steady – but not record-breaking – year in real estate markets across Miami-Dade County, observers say. “It was a relatively slow year,” with some companies waiting until year’s end to make major decisions, said Marc Miller, research manager for JLL. For example, Wells Fargo & Co. in mid-December signed a lease for an additional 54,000 square feet in the Wells Fargo Center at 333 SE Second Ave. The banking…

SBE Entertainment Group gears up for trial over South Beach hotel sale

L.A. hospitality guru Sam Nazarian is headed to court. The hotelier and his company, SBE Entertainment Group, are accused of self-dealing and breaching fiduciary duties in the sale of the SLS Hotel South Beach in 2015. The plaintiff…

Church easement big step to expand public baywalk

Miami commissioners are taking a major step forward in expanding the public baywalk along Biscayne Bay. Commissioners on Jan. 12 authorized City Manager Daniel Alfonso to accept an easement from the First Presbyterian Church of Miami “for baywalk purposes over and upon a portion of the property” at 609 Brickell Ave. The move will allow the city to move ahead with plans to pay for constructing that section of baywalk east of the church, a desire expressed by city officials…

US builder confidence dips amid fears over rising interest rates

U.S. builder confidence in newly-built single-family homes dropped in January, following the 11-year high it reached last month. The National Association of Home Builders’ housing market index fell to 67 in January, down from 69 in December…

Video discusses whether when selling a business if the property should be sold with it

The post Video discusses whether when selling a business if the property should be sold with it or whether it is better to sell them sepately.

Strong Fundamentals Signal Surge In South Florida Industrial Markets

South Florida’s industrial market has seen over 33 million square feet of net absorption since the end of the recession. Following 2015’s record-setting year of 6.9 million square feet of absorption, 2016 logged another 4.7 million square feet for a combined total of 11.6 million square feet of…

With 14 more due this year, hotels likely to get more aggressive

Although the county’s hotel market is about to see an influx of new units in the coming year, it won’t be nearly as flooded as it has been in the recent past. Nevertheless, local hotels are expected to become more aggressive to maintain their market share. According to the Greater Miami Convention & Visitors Bureau, 17 new hotels were completed last year, adding 2,337 rooms to the market, much of it during the latter half of the year. This year, at least 14 proposed hotels promise to add yet another…

Related planning large second condo building on High Line site

The Related Companies’ latest High Line condominium project will span almost 430,000 square feet – four times larger than initially indicated in permit filings. In September, the developer filed plans with the Department of Buildings for a 63-unit, 108,024-square-foot building at 501 West 18th Street, on the corner of 10th Avenue, as The Real Deal reported. But weeks later, it filed plans with for a second, 22-story apartment building on an adjacent parcel. The two buildings will rise…

Miami Heat and Miami Dolphins ask about running marine stadium

The Miami Heat and Miami Dolphins have asked about running a restored Miami Marine Stadium, Mayor Tomás Regalado has told Miami Today, as have global entertainment operators Live Nation, which runs the Fillmore Miami Beach, and SMG, which runs the city’s James L. Knight Center. “To not subsidize the venue, we need a professional presenter,” he said. Such interest lends credibility to operation of the Virginia Key city-owned stadium if restoration is completed.

Legal protection in a high-end business tort in Miami

Going into business in Miami can be complicated. Many prospective business owners and entrepreneurs will seek to have partnerships, limited liability companies and other options to provide themselves with protection and flexibility. These businesses can be extremely profitable to all parties. Unfortunately…

Three-Year Industrial Lease Negotiated For Tennis Plaza In Doral

NAI Miami teammates Lucia Custer and Gabriel Garcia-Menocal, SIOR represented their client, a full service tennis specialty retailer with six store locations throughout Florida.

How Developers Are Redesigning Miami, Nine Acres At A Time

Special Area Plans (SAPs) were once reserved mostly to the city’s core, but developers building in far-flung, residential neighborhoods are now taking advantage.

Crocker Partners Names Managing Partner

The company’s current portfolio tops 8.6 million square feet, valued at $2 billion.

New York investor allegedly skipped out on a $1.44M commission

A North Miami real estate brokerage firm and one of its realtors are accusing a former client of skipping out on his commission fee bill, according to a recently filed lawsuit. La Rosa Realty and realtor associate Nabeel Abunassar sued John Sismanoglou and his company Ellington Residences in Miami-Dade Circuit Court last month for breach of contract in connection with his purchase of an 86-unit, seven-story apartment building in Miami Gardens a month earlier. The lawsuit…

How to Calculate the Statute of Limitations in a Mortgage Foreclosure

The simple question of how to calculate the statute of limitations in a mortgage foreclosure has finally been answered by the Florida Supreme Court.  And the banks won. Mortgage lenders may file new foreclosure actions against borrowers who won foreclosure cases more than five years ago if the…

Miami Beach has Bakehouse singing the blues after code says no jazz on Sundays

In a city known for throbbing all-night discos, oversized speakers blasting rap music on Ocean Drive and salsa-blaring golf buggies ferrying tourists from bar to bar, one might think that a little smooth jazz at a Sunday…

Video: When buying a commercial property, when should should a title report be ordered?

Michael Bull, an Atlanta based commercial real estate broker and host of The Commercial Real Estate Show, opines on the question, “I’m buying a commercial property, when should I order a title report?”  His response is “right away,” explaining that otherwise you might spend money on other…

Aston Martin Residences: Miami Condos for Sale in the style of James Bond!

Elegance, style and impeccable design are just a few attributes that defines Aston Martin as one of the most luxurious sport car design brand on the market. Their sophisticated creations have been the perfect complement of “James Bond” movies but now they reach for a higher objective: The Aston…

Miami Industrial Real Estate Market Report for the Year End 2016

The 2016 industrial real estate market in Miami was full of uncertainty given both the national economy and the US presidential election. Folks did not yet know if our republic was voting for more continued governmentism or Americanism again. You may be surprised at how many significant decision…

Venezuelan Investors Complete Calle Ocho Assemblage

Closing on the final portion of an assemblage in Little Havana, bringing its total to nearly $9 million. investors paid $141 per square foot for land between March and December 2016.