Buying Landmarks: South Florida’s Biggest 2016 Office Deals

While glitzy new condo projects often steal the limelight, the five biggest office deals struck in South Florida during 2016 are showcased as well as the players who made them happen.

Why Are The World’s Top Real Estate Investors Risking Billions On Miami’s Riverfront Renaissance?

The Miami riverfront has long been the last remaining stretch of undeveloped waterfront property in a city where waterfront property is real estate gold—at least until recently.

Video: A New State of Mind in Downtown Miami

In this video published by the Miami Downtown Development Authority (Miami DDA) and produced by Reel City Films, living and working in downtown Miami is discussed.  A number of downtown Miami advocates are featured in this video, including: Leslie Pollack, an attorney with Kluger Kaplan; John…

PortMiami Approves Miami’s 79th Street Corridor As Foreign Trade Zone

The next step in the designation is the development of a business plan by the Foreign Trade Zone and the development of warehouse facilities.

Codina Partners Pays $28M For 55 Acres In Hialeah, Plans Warehouse Development

Returning to his roots in the industrial market, Armando Codina’s Beacon Logistics Park project plans building 1 million square feet of Class A distribution warehouses.

Doral’s First Mayor Is Back; Expected To Shift City Landscape

Newly elected to the office he held for nine years, Mayor Juan Carlos “JC” Bermudez hopes he’ll be able to reverse at least a few decisions Doral’s city government made about growth and development.

South Florida’s Biggest 2016 Office Deals

While glitzy new condo projects often steal the limelight, the five biggest office deals struck in South Florida during 2016 are showcased as well as the players who made them happen.

Massive Transformation Proposed In Part Of Miami’s Little Haiti With 28-Story Towers

On Dec. 21, the city’s Urban Design Review Committee will consider the site plan with a maximum development potential of 2,798 apartments, 418 hotel rooms, 283,798 square feet of commercial/retail space, and 97,103 square feet of office space.

Rents For Office Space In Florida Up Almost 10 Percent

Cushman & Wakefield said in a report released last week that the average square foot of office space statewide was renting for $32.26 – a 9.5 percent increase over last year.

Don’t lock out your tenant, even if the lease says so

A Florida landlord recently learned that “self-help” is not allowed for evicting a tenant, even if the parties’ lease says it is. In Palm Beach Florida Hotel and Office Building Limited Partnership v. Nantucket Enterprises, Inc., the parties’ lease supposedly allowed self-help…

Redesigned One Bayfront Plaza planned for downtown Miami

Miami’s skyline will look much different over the next decade Redesigned plans were filed by Florida East Coast Realty for One Bayfront Plaza, per South Florida Business Journal, bringing 902 apartments, 200 hotel rooms, 532,000 square feet of office space, 103,959 square feet of retail, and over…

LA-based Drybar inks first deal on South Beach

Southern California-based Drybar is opening its first Miami area location on South Beach. Drybar has leased 1,600 square feet at 1600 Collins Avenue #2, at the ground floor of the new Hyatt Centric South Beach Miami, next to Berkley…

South Florida homes are still growing more expensive at a steady clip

South Florida home buyers waiting for a price dip, don’t hold your breath. According to the latest report from the S&P CoreLogic Case-Shiller Indices, home prices in the region continued their years-long upward climb in October. The index, which tracks home sales…

Nightingale pays $80M for Miami Beach’s Lincoln Place office building

In yet another high-profile investment deal at the end of the year, the Nightingale Group just bought Miami Beach’s Lincoln Place office building for $80 million.
The purchase works out to roughly $571 per square foot for the seller, Cousins Properties, an Atlanta real estate…

These Leading Crowdfunding Platforms Are Changing The Real Estate Investment Game

Crowdfunding is on track to raise more than $30B this year, and while most platforms have something unique to offer, these five are leading the industry.

The Pritzker Prize, Architecture’s Elite.

The Pritzker Prize, only the crème de la crème of architects qualify for this honor. The Nobel Prize for architects shows homage to an architect whose work has portrayed dedication, out of the box thinking and talent. Miami for years, has become a personal favorite of the Pritzker family, which…

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…

Florida East Coast Realty Submits New Plan For Florida’s Tallest Tower

FECR’s re-submitted plans for One Bayfront Plaza will rise 92 stories soaring 1,049 feet tall.

Massive 28-Story Apartment Complex Proposed in Little Haiti

Land developers are all but salivating to sink their teeth into the rich, fatty, unblemished flesh that is Little Haiti real estate. The Wynwood gentrification fight is over — the only people who can afford land there now are the sort who maintain Cayman Islands bank accounts, and scores of tall luxury apartments are headed to that neighborhood. So the development battle has edged ever northward, into the historically black and historically poor Little Haiti. And now one of the largest…

Mandatory workforce housing act rejected by Miami-Dade commission

A controversial plan to mandate workforce housing in all new Miami-Dade County residential projects fell apart at the county commission’s Tuesday meeting.
With mounting pressure from the development industry and her fellow commissioners, Barbara Jordan reportedly…

MasTec Signs 65,000-SF Renewal in Coral Gables

MasTec, an infrastructure engineering and construction company, renewed its lease for a total of 65,000 square feet at 800 and 806 S. Douglas Rd. in Coral Gables, FL. MasTec occupies space in two buildings within the Douglas Entrance business park, including the 12-story, 138,839-square-foot

Video: A Few Mistakes to Avoid in Single Tenant Net Lease Contracts

Nancy Miller, SVP at National Net Lease Investment Group, and Tim Kinney, VP Capital Markets at a commercial brokerage firm, discuss with host Michael Bull, a few mistakes that it is best to avoid when reviewing your single tenant net lease contracts…

Explosion leads to lawsuit against developer and contractor

There is a significant amount of ongoing construction in Miami to create developments to attract renters, purchasers and visitors. An unfortunate corollary with the amount of construction that is always taking place throughout the city is the inevitable disputes over a construction project. The…

An Overlooked Aspect of a Limited Liability Company

Limited liability companies appear to be the flavor of the day for entrepreneurs setting up their own businesses. The establishment of a business enterprise is often thought to shield the owner from personal liability to creditors. It is true that owners of an enterprise do not have personal liability…

Firm Proposes 22-Acre, Mixed-Use Special Area Plan (SAP) In Miami’s Little Haiti

The Miami board will review the application on Dec. 21.

Cannabis Industry Leaders Vying For Land & Asset Acquisitions For Grow Operations

Located in a county designated to legally cultivate, process and dispense cannabis, Arcturus Growthstar Technologies just announced that it signed a contract to acquire a 15-acre parcel of land.

Focus on developing downtown Miami intensifies: ULI event

Downtown Miami, traffic-clogged by day and deserted at night, could soon be transformed into a pedestrian-friendly urban dining and entertainment hub, say planners, brokers and local business owners. Sandwiched between Northeast Sixth Street to the north, Biscayne Bay to the east, and the Miami River to the south and west, downtown Miami has lagged as development has boomed in nearby Brickell, Wynwood and Edgewater. But participants at a seminar last week…

Mexican financier’s $13.4M in South Florida property could be seized

Rafael A. Olvera Amezcua is tied to at least 17 properties valued at $13.44 million in South Florida, either as an owner, through a shell company or through affiliates. For a wealthy investor, millions of dollars in South Florida real estate isn’t unusual. But Amezcua isn’t just a wealthy investor. He is a Mexican financier who allegedly orchestrated a massive fraud against thousands of Mexicans.

What Shippers Need To Know About New US Port Bill

US shippers using the ports of Charleston and Everglades in the coming years should be able to ship their goods via larger ships and avoid navigational hurdles after Congress passed a major port bill late last week. More broadly, US ports seeking to deepen their channels to handle larger ships could…

Filling Station Lofts ditches condo conversion plan, goes back to rentals

Filling Station Lofts, which planned to convert its apartments to condos, has bagged that idea and is back to rentals amid the market slowdown. In June, developer Ron Gottesmann, co-founder and principal of NR Investments, told The Real Deal that the 10-story, 81-unit apartment building in Miami’s Arts & Entertainment District was converting to condos. Even though condo sales had already stalled in the South Florida market, Gottesmann said the switch was being spurred…

With Promises For Infrastructure, Regulations, Trump Sets Bar High For Shippers

In a year of disruption that has ranged from container shipping consolidation to radical changes wrought by e-commerce, few shippers and transportation providers planned for billionaire businessman, reality television star, and Republican nominee Donald Trump winning the US presidential election.

Miami-Dade County Eases Location Restrictions for Breweries, Wineries, and Distilleries

This past December 6, the Board of County Commissioners reduced the minimum amount of space required to have such places next to schools to 1,000 feet (provided they’re not used for agricultural use). The decision was unanimous. Before, the law required a minimum distance of 2,500 feet — roughly a half-mile — from schools and churches and 1,500 from any other establishment that sells alcohol. This new ruling affects Spanish Marie Brewing Company, a 2,500-square-foot…

Builders Risk Insurance: 8 Things You Need To Know

Coverage for insureds with construction exposures beyond the limited parameters of a standard commercial property form is accomplished through the use of the simplified language builders risk form and endorsements. The policy may be used to cover the interest of the building owner, the contractor…

Once Run-Down District Gets Bold New Start In Miami Beach

The launch of an amibitious new arts centre marks a key stage in the rebirth of the Faena District.

Entrepreneurs Take Control Of Brickell Property, Plan Mixed-Use Project

With an entire side of a block to work with along Southwest First Avenue, two dot-com entrepreneurs are now exploring an adaptive reuse project that would modernize their existing buildings.

County Seeks Inland Site For Seaport Cargo Operations

An inland port would be geographically central to private warehouses, allowing PortMiami to store containers and trucks until a shipping customer needs them.

Port Of Miami Terminals Seek Alliance To Negotiate With Container Lines

This is the first time two marine terminals have sought the Federal Maritime Commission’s blessing to create their own alliance.

Kendall Synagogue Sale Negotiated for $5.35 Million

Juan Carlos Mas, former CEO for one of the nation’s largest equipment rental companies, purchased the property, which he’s eyeing for possible redevelopment.

Condo Building On Washington Avenue Hits The Market: $14M

The building is being marketed as a hotel redevelopment with 42 luxury suites.

As Developers Go On Shopping Spree, Miami Retail Has Never Been Hotter

The timing may seem odd, given the obstacles, but experts say the Miami market’s fundamentals are strong and there’s room to grow despite fears of oversaturation when new projects open up. C

Terra Group Cancels $35 Million Offer For West Grove Assemblage

Environmental concerns killed the deal for the offer of 40 properties.

Spanish Billionaire Pays $500 Million For Iconic Downtown Miami Office Tower

The sale of the 55-story Southeast Financial Center is the largest single-building transaction in the history of Miami.

Xceligent Launches Its CRE Platform In South Florida

The company’s flagship research product provides access to building data and market analytics for a total of more than 1.9 billion square feet of commercial space in Miami-Dade, Palm Beach, and Broward Counties.

Not fielding best team will cost city more in riverfront deal

The City of Miami, fielding real estate’s version of a good college team, is about to enter a realty Super Bowl. We know before the game starts that the other team’s top-level pros are going to kick the stuffing out of our side. Maybe that’s why Commissioner Frank Carollo said the…

How the election may affect the commercial real estate industry

The presidential election has the country riveted and divided on several fronts. When it comes to the real estate front, the upcoming election is likely to affect the commercial  real estate and residential real estate industry. The economy is still in one of the slowest recovery periods of the…

More Miami Luxury Real Estate: Aston Martin and The WorldCenter

Miami has long been known as a prime market for luxury real estate. Despite the most recent turmoil in the city’s luxury market, the general trend is an increase in Miami real estate valuations. This is by in large due to the market’s adapatation to a new wave of buyers. Two new additions…

Miami Real Estate: December

Home prices rise across the nation, but not in Miami. Throughout the Fall, the nation saw a rise in home prices. The Standard&Poor’s/Case-Shiller 20-city home price index rose 5.5 perecent between October 2014 and October 2015. Home values rose about 5%…

Miami: A Billionaire’s Market

Miami is a hot market. Whether it’s the trendy Design District or the bustling Ocean Drive, real estate is one of the most attractive elements of the Floridian city. The city’s glamor is quantified in its subsequent real estate trades: everyone wants to own a part of Miami. Last month…

The Current State of Miami Real Estate

Local real estate industry leaders recently gathered in Miami to discuss the real estate market in South Florida. Interest in South Florida real estate from both the United States and abroad has made the real estate market attractive for developers. Due to the increased interest in real estate development…

Challenging Buyer? How To Manage Buyer’s Repair Request When Selling Your South Florida Property

One of the most anticipated moments for any residential or commercial South Florida real estate seller is the inspection process.  This is when a professional inspector looks over most every aspect of your property’s appearance and condition, such as plumbing, electrical, heating, air…

Buying A Renovated Home Or Commercial Property? Check Building Permits!

It’s a scenario that happens all too often for professional residential and building inspectors: buyers discover building permits were not issued on their home when the sellers did remodeling. For the new owner, this can be a serious financial and safety issue if they did not confirm that…

Commercial Real Estate Prices Still on the Rise

Commercial Real Estate Prices Still on the Rise, Will the Bubble Burst? The post Commercial Real Estate Prices Still on the Rise appeared…

Five things to consider when deciding whether to include an arbitration clause in a real estate contract

Many types of contracts require the parties to submit their disputes to arbitration. For example, arbitration clauses are common in consumer agreements, such as car leases and gym memberships. While a consumer can negotiate certain terms, like price, most of the provisions are not negotiable. While…

If I get a judgment against my commercial tenant, will I be able to collect?

At times, the easiest part of litigation can be getting a judgment, while collecting on the judgment can be time consuming and expensive. Unfortunately, it is difficult to determine whether you will able to collect on a judgment before filing a lawsuit. In the landlord/tenant context, before pu…

Top 10 provisions your litigator wants in your commercial lease

Your lease could be missing some critical provision that would help you in a potential dispute. It’s bad enough having to call your real estate litigator. But it’s worse when he or she tells you that your lease is missing some critical provision that would help you in your current dispute…

Two types of liens commercial real estate sales brokers should know about

Real estate brokerage is a business. No point in finding a willing buyer for your client’s property unless you get paid for your efforts, right? A lien can be a powerful tool to make sure this happens, but not without risk. There are two types of liens for commercial real estate sales brokers…

How to prevent a tenant from removing valuable equipment before they flee

A landlord may prevent a tenant from taking equipment from the premises by filing a distress writ. Before a landlord files suit for eviction, it should first consider whether there is any equipment on the premises that could help attract a new tenant. Frequently, landlords provide money in the lease…

Miami Beach pauses light rail project to wait for Miami-Dade’s commitment

Mayor Levine wants the people to decide on pursuing a connection between Miami Beach and downtown Miami Not long after Miami Beach residents showed displeasure over moving forward with a $244 million light rail on its island, the City Commission has unanimously decided to press pause on fast-tracking…

Construction defects at the center of Miami lawsuit

Construction is big business in Miami and this is especially true with the luxury market. When there is a property set to be developed, it is necessary for there to be several invaluable pieces in place to ensure that the process goes smoothly. This extends from financing to building to making certain…

Cyber Fraud and Real Estate Transactions

Today’s topic focuses on cyber fraud and real estate transactions while focusing on the ever present threat of cyber fraud and the implication is has for your real estate transaction. Like most businesses where money is involved, we are seeing an alarming trend in cyber fraud in the real estate…

Stemming the Tide of Shopping Center Foreclosures

“A tenant that has another store nearby with better sales may elect to let the less productive store go dark.”

$517M Office Deal Sets Record for Florida Real Estate

CBRE’s Tim Gifford advised the Spanish buyer on the state’s largest commercial real estate transaction of the year.

Iconic Hotel Trades for $165M

“It is the right project in the right market in an industry segment we love.”

South Florida’s foreclosure rate dives again in November: report

A June 2011 photo of the downtown Miami skyline (Credit: Marc Averette) and a foreclosure sign. Cooling residential market or not, South Florida is riding a now years-long trend of falling foreclosures rates. A newly released report shows that November marked yet another month of evaporating foreclosures…

South Florida moving toward real estate bubble: Anderson & Carr’s Banting

South Florida is headed toward a real estate bubble, but we’re not there yet, said Robert Banting, president of appraising firm Anderson & Carr in West Palm Beach.
“But it’s just a matter of time before the next [real estate] recession…

Watch Miami grow with this time-lapse satellite view

This video, showing a time-lapse satellite view of the Miami area for the past 30 years, was created with Google’s Timelapse, a global, zoomable video that allows users to see how the Earth has changed in some selected area over the past 32 years. It is made out of 33 cloud-free annual mosaic…

Video: Office Market Update from REIS

Barbara Denham from REIS discusses recent office market trends, including demand growth, vacancy rates, and cap rates, with Michael Bull, the host of this show.
The post Video: Office Market Update from REIS appeared first on HawkinsCRE….

Plans Revealed For Mixed-Use Project In North Miami Beach, Replacing Dean’s Gold

Assembling parcels for nearly $50M over the past two years, CK Prive Group plans for Uptown 163 calls for 160 hotel rooms, 198 apartments, 130,000 square feet of office space, and 200,0000 square feet of retail space.