Brickell Flatiron: 24-hour pour moves 50 million pounds of concrete

General contractor Moss & Associates completed a 24-hour continuous concrete pour for the foundation of Brickell Flatiron, paving the way for vertical construction of the 64-story condominium in Miami’s Brickell financial district. Moss & Associates orchestrated the 24-hour pour with nearly 150 mixing trucks that carried more than 50 million pounds of concrete to am excavated hole at the project site, 1001 South Miami Avenue. The pour, which ended around 10 p.m. Saturday…

A Complete List of Miami Coworking Spaces with Interactive Map

Below is a list of Miami, Florida (Miami-Dade county) coworking spaces. The locations of these are displayed on the accompanying interactive map above.  Click through any map link to the side of its address below to access a Google map specifically for that address from which you…

Interest Rates 2016: Although Still Low, U.S. Treasury Yields Notably Spike at Year End

U.S. Treasury Yield Curve December 30, 2016 vs. December 31, 2015. Although interest rates still seem on the low side by all but the youngest players in the market, interest rates nonetheless have made a sharp upturn in recent months.  Consider that 10-year yields are near a 5 year high and more than…

Brickell City Centre Reveals Largest Retailer Lineup To Date

Swire Properties Inc, cap off Brickell City Centre’s 2015 retail announcements with its largest lineup of luxury and premium retail tenants set to join the open-air shopping center under construction in the heart of Brickell. The list includes coveted luxury brands, international household names…

The Economist: Miami Beach, the world’s best parking spot ~ Why developers are making a statement out of a boring building

CAR parks are rarely well-designed. Even more rarely do they amount to “design”: something to enjoy on a purely aesthetic level. However, in Miami Beach, Florida, the car park has become not just a building type that is visually pleasing, but something else entirely: a set piece that offers architects the chance to show off. Perhaps because the city has expanded rapidly as a travel destination, its new hotels are invariably disappointing dumb citadels of glass and steel that dominate…

Condo Terminations Expected To Rise As Developers Look To Older Buildings

With little to no prime undeveloped land remaining, aging oceanfront buildings are ripe for glitzy redevelopment as developers scour the South Florida coast for opportunities.

Group Selected To Manage 200-Acre South Florida Logistics Center

CBRE was appointed by institutional investors to manage the South Florida Logistics Center, a 1,091,217-square-foot multi-building industrial project adjacent to MIA.

Little Haiti Will Be South Florida’s Hottest Neighborhood In 2017, Report Says

A report just released by real estate website Zillow predicts home values in the gentrifying area north of downtown Miami will rise 4.6 percent this year.

Research: U.S. Commercial Real Estate Markets Offer Solid Returns in Global Low-Yield Environment – Miami a Top Performer

The first nine months of 2016 witnessed broad softening in global economic conditions. The annual rate of gross domestic product (GDP) for most developed economies was well below 2.0 percent. In response, central banks continued policies of monetary easing, some pushing short-term interest rates into negative territory. Even the United States (U.S.) Federal Reserve Bank moderated its outlook and held steady on its funds target rate.

State of the Markets

Panels give insight into South Florida, Caribbean and Latin American markets. Just in time for the turn of the year, real estate services company NAI Global held its Florida Forum at Jungle Island. One panel talked about the South Florida market, where the Miami condominium market is cooling, while…

Miami River Commission undecided about two new waterfront eateries

Plans for two new waterfront restaurants on the Miami River met resistance on Monday from the public agency overseeing development along the waterway. The Miami River Commission delayed its vote on both proposals until January 23. The first involves the River…
The most expensive condo to close last week was at the recently completed Chateau Bea…

Office Lease Up (January 9) Wells Fargo Bank Consolidating Miami Operations in Wells Fargo Center

Wells Fargo Bank has decided to consolidate its Miami operations into the 47-story Wells Fargo Center located at 333 Avenue of the Americas. In a year-end lease that qualifies as one the largest signed in Miami in 2016, the bank signed a long-term renewal for the 96,656 square feet of office space…

Video: View of the Potential Impact of Rising Interest Rates from the CRE Finance Council’s Lisa Pendegrast

In this video, Lisa Pendergast, Executive Director of the CRE Finance Council, discusses the topic of the potential effects rising interest rates on commercial real estate. She notes that 10 year rates have increased in recent weeks by 50 basis points, then goes on to make estimates for mortgage…

Miami’s Largest Office Building officially off the market.

Amancio Ortega -the world’s second-richest man according to Forbes. Founder of over 7000 ‘Zara’ stores in the world wide since 1975. With over $10 Billion worth of properties in his portfolio one might start to wonder how to spend it. What do you even buy for the man that has it all?

Latest trends in Downtown Real Estate Market

The latest results from the Miami Downtown Development Authority‘s ongoing residential market research are in and the findings may spell good news for renters. A new report surveying development in and around Miami’s urban core found that nearly 90 percent of the new residential units built this…

A New Waterfront Luxury Condominium Will Rise in Brickell

Great news for those who were waiting for a new luxury tower with unobstructed water views in Brickell… A condominium building of 11 floors will be demolished to make way for a 48-story residential tower. Miami Waterfront Ventures LLC, a division of OKO Group, paid just under $48 million for the…

New downtown Miami apartments will exceed condos in 2017: Downtown Development Authority Flash Report

Greater Downtown Miami will see more rental apartments delivered than condominiums in 2017 for the first time ever, as developers focus on the multifamily market amid slumping condo sales, according to newly released report. And that influx of inventory means rental rates are dropping, the Downtown Development Authority’s study shows. The DDA’s Greater Downtown Miami Residential Market Study “Flash Report” found that 3,575 rental units will be delivered in 2017, compared…

South Florida’s Five Biggest Industrial Market Sales Of 2016

Demand was strong for warehouse properties from Miami-Dade County through Palm Beach County with the top five sales in the tri-county region priced from nearly $250 million to $50 million.

Investor buys Brickell gas station near Miami River for $8M

$8 Million was shelled out for a corner gas station across the street from the Chetrit Group’s $1 billion Miami River project, adding to his holdings in the Brickell area. Records show broker and investor Simon Karam’s City Block Properties LLC spent $378 per square foot for the 21,158-square-foot corner lot at 720 Southwest Second Avenue near Brickell City Centre. The seller is Five Group Corp., a company controlled by Eduardo Atienza, Manuel Alegria, Antonio Moreno and Basilo J. Folgueira.

Yield Curve Quarterly Snapshot – 2016 Q4

At the end of the 4th quarter of 2016, U.S. Treasury yields, on a nominal basis, were notably higher at every maturity, with increases for 5 years or longer of 50 or so basis points. On a real basis, rates we also up across the board, albeit slightly less for maturities of 5 years or more as inflation expectations have ticked up every so slightly.

Miami rents plateau in December but rise to 9th highest nationally

Despite Miami median rents for both one-bedrooms and two-bedrooms remaining unchanged from a month ago, the Magic City climbed a spot to ninth nationally in Zumper’s latest rent report. Miami was 10th last month. Median rent for one-bedroom units ($1,800) and two-bedroom units ($2,500) are both down about 1 percent year over year as supply continues to rise. Have a look at how it compares on a city-by-city scale.

Top South Florida multifamily deals of 2016

With national home ownership rates in the dumps and a slumping condo market, the one residential asset type that seemed to rule them all in South Florida this year was the rental building. Developers were launching new mixed-use projects everywhere from south Miami-Dade County to Jupiter, and institutional investors couldn’t seem to keep their hands off multifamily properties. The Real Deal put together a list detailing South Florida’s five biggest trades this year…

Silvia Coltrane has won design approval for North Beach hotel, tied to power line promise

Silvia Coltrane’s 10-story North Beach hotel project will move forward after the Miami Beach Design Review Board unanimously approved variances that included allowing the construction of two new power transmission poles as little as seven feet away from the future building. “I feel wonderful, excited. This is really exciting,” Coltrane told The Real Deal after the vote on Tuesday. “I feel very happy for North Beach, very happy for the community.”

Brickell Flatiron preps for foundation pour this weekend

Another Brickell condo on the rise Brickell Flatiron is preparing for its foundation pour this weekend, utilizing about 150 trucks and 700 construction workers to pour about 50 million pounds of cement beginning Friday evening. The luxury condo development is 60 percent sold. The pour will be led by…

Midtown Five opens after receiving Temporary Certificate of Occupancy

Midtown’s newest luxury development Chicago-based Magellan Development Group announced the opening of Midtown Five, a 400-unit luxury rental development opening in the heart of Midtown Miami, directly south of 4 Midtown. Magellan’s first Miami property, located at 3201 Northeast 1st Avenue, received…

Argentinian family pays $6.4M for site on South Dixie Highway in Coral Gables

Aerial view of the Coral Gables property and listing agent Marcos Puente. A small restaurant building at 1114 South Dixie Highway in Coral Gables sold for $6.4 million, marking another sign of increased demand for commercial real estate along the corridor. The building, occupied by Starbucks and a Moon Thai & Japanese…

Pizza Rustica, other Lincoln Road restaurants face sidewalk permit suspensions

Pizza Rustica on Lincoln Road. More than a dozen Lincoln Road restaurants’ owners and representatives are crying foul over a recent city of Miami Beach crackdown on unpermitted outdoor tables and chairs during Halloween. In early December, Miami Beach officials notified the 13 alleged violators…

South Florida’s five biggest industrial market sales of 2016

An industrial market boom swept through South Florida in 2016. Demand was strong for warehouse properties from Miami-Dade County through Palm Beach County, with buyers like Blackstone Group, Invesco Advisors, Clarion Partners and J.P.Morgan Asset Management getting into the fray. Here are the top five sales in the tri-county region, priced from nearly $250 million to $50 million, based on CoStar Group data. 1. Flagler Station I, II, III, 10801 Northwest 103rd Street…

Italian restaurateurs with spots in St. Barts and LA bringing Bianconi to Brickell

Italian restaurateurs Fabrizio and Diana Bianconi, who own dining spots in St. Barts and Los Angeles, plan to open their first restaurant in Miami on Brickell Avenue, The Real Deal has learned. Named Bianconi, the Italian eatery will launch late this year…

Take a look at a greener Biscayne Boulevard in downtown Miami

Renderings of the Biscayne Green. Beginning Friday, downtown Miami might look a little greener. The Miami Downtown Development Authority will take over 101 parking spaces and two traffic lanes of Biscayne Boulevard and turn them into active parks, a pilot project that will be in effect until January 26.

South Florida Street Designated as Foreign Trade Zone

The 79th Street Corridor of Miami has been designated as a foreign trade zone by PortMiami, positioning the area for a financial boost as the first economically disadvantaged urban area to receive this type of designation. Foreign trade zone designations create job opportunities for the people who reside…

PS Business Parks Signs 308,000 SF In Q4 At Miami International Commerce Center

A total of 38 lease transactions were closed.

Developer To Propose ‘Community’ Plan In Edgewater

The developer is planning a “whole community” that will include “a little bit of everything.”

Voda Waterfront Residences of Eastern Shores launches sales in North Miami

A new boutique condo in North Miami Voda Waterfront Residences of Eastern Shores has launched sales, with the 12-unit boutique condo bringing luxury residences to North Miami. Located on a corner lot on Dumfoundling Bay, prices range from $1.1 to $1.4 million. They range in size from 1,860 square…

Construction defect lawsuit filed over issues at ballpark

Construction projects throughout Florida often have a difference between what the property owner had in mind and what the contractor produced. Sometimes there are flaws and damage. This can lead to a disagreement that can only be settled via construction litigation. This can be problematic for both…

Biggest Miami Office Property Sales in 2016 with Google Streetviews

Big condo developments and land sales tend to get most of the attention in South Florida.  Office properties, however, also are big business in the area.  In 2016 alone, there were a number of sales of sizable office properties in Miami that changed hands. Among the largest were the following…

Innovations in commercial real estate: Preparing for the city of the future ~ Deloitte

Innovations in commercial real estate: Preparing for the city of the future ~ Deloitte. A new report from Deloitte – Innovations in commercial real estate: Preparing for the city of the future – asks whether today’s commercial properties are ready for the future. It is a good question, one that…

30 Thirty North Ocean launches sales, releases renderings

A new boutique development in Fort Lauderdale Beach 30 Thirty North Ocean, a luxury boutique condo development announced in east Fort Lauderdale Beach, has launched sales, with Cavache Properties recently releasing renderings of the upcoming 24-unit project. Located at 3030 North Ocean Boulevard,..

Zika virus, Hurricane Matthew and Florida’s most googled terms of 2016

Florida’s 10 most googled terms In taking a look at the most Googled terms of 2016 across the nation by state, Estately concluded most of Florida’s most popular searches were pretty depressing, involving deaths, like “Kimbo Slice” and “Jose Fernandez,” as well as horrible events like the…

2016 Another Banner Year for Commercial Real Estate

For all its ups and downs, U.S. commercial real estate enjoyed another banner year in 2016, thanks in large part to the unprecedented run in multifamily rents and property values and the fact that the U.S. continues to be viewed as a ‘safe haven’ by global property investors. But it was also…

Wells Fargo Bank Consolidating Miami Operations in Wells Fargo Center

Wells Fargo Bank, which previously had various business units located in downtown Miami’s Wells Fargo Center and the nearby Southeast Financial Center, has decided consolidate its Miami operations into the 47-story Wells Fargo Center located at 333 Avenue of the Americas. In a year-end lease that…

With 2017 Approaching, South Florida’s 2016 Real Estate Market Is Still Kicking

A number of big-dollar South Florida real estate deals have marked the last few weeks of the year.

South Florida’s 10 biggest retail deals of 2016

South Florida shopping centers and retail sites were hot commodities in 2016, with a slew of properties changing hands during the year. The top 10 deals were spread throughout the tri-county region, ranging from $285 million to $50 million. Here is The Real Deal‘s list of the 10 top South Florida retail sales for the year, based on CoStar Group data. #1: The Palms at Town & Country, Kendall…

South Florida’s biggest hotel trades of 2016

From South Beach to Fort Lauderdale, hotel properties were hot tickets in South Florida’s commercial real estate market this year, often fetching top dollar from investors looking to grow their foothold in the region. Even with news of a possible oversupply in some cities and the Zika virus hurting…

Massive 28-Story Apartment Complex Proposed In Little Haiti

The development battle has edged northward into Little Haiti with one of the largest proposals in the neighborhood’s history and certain to upset anti-gentrification activists.

Hialeah Plans To Develop Two Transit-Oriented Districts

Aimed at promoting compact, mixed-use projects within walking distance of high-capacity rapid transit, the districts will be developed around the city’s Transfer Station and Market Station.

Miami Beach is the most expensive New Year’s Eve destination in the US, again

Topping out at over $1,700 a night! With fears of Zika in the rearview and temperatures lowering to more comfortable levels as the northeast freezes over, Miami again has become a premier travel destination across the globe. This is especially the case on New Year Eve as Miami Beach again paces the…

Real estate industry freaked out by Republican tax reform plan

Some real estate insiders are worried a Republican overhaul of the tax system could damage the industry. In June, Republican federal lawmakers proposed a tax reform, and lobbyists told the Wall Street Journal that it…

Miami market settling into slowdown in 2017: real estate players

Downtown Miami (Credit: Azeez Bakare Studios). Inset: Jay Parker, Mika Mattingly, Arnaud Karsenti, Ezra Katz and Taylor Collins. Miami’s real estate market experienced the first wave of a slowdown in condo sales at the start of 2016, with some experts warning it could lead to a recession by the end…

5 Steps to Find Your Next Commercial Real Estate Investment

Develop your selection criteria and invest with profit in mind. When it comes to finding the perfect commercial real estate investment, there are a lot of factors to account for, including your financial goals, your budget, your location, your risk tolerance, and a variety of other considerations.

Sunny Isles Beach landlord puts the squeeze on Miami Juice owners: litigation

An entity controlled by Barry Shelomovitz, a Sunny Isles Beach real estate investor who is co-developing the Residence Inn by Marriott, is being sued by his largest mom-and-pop tenant, the Miami Juice restaurant, at another shopping plaza nearby. Miami Juice’s owners allege Shelomovitz’s investment firm wants to squeeze them out of their long-term lease and evict them, based on a growing list of legal technicalities and allegedly petty complaints. It’s a legal move that they say appears…

Miami-Dade Wants To Make It Harder For Land Owners To Fight Assessment Hikes, Critics Claim

Miami-Dade property owners will find it much more difficult to contest their annual property assessments under a new guideline being considered by the Value Adjustment Board, a semi-governmental agency that mediates disputes between landowners and Property Appraiser Pedro Garcia, critics of the…

Dealing with commercial real estate litigation in Miami

Commercial real estate is a big part of the economy in Miami. Given that the city is so attractive as a place to live and visit, building and commercial real estate transactions are unavoidable. With some of these, there are disputes between developers, construction companies and others involved in…