Turnberry wants to build new project on Alton Road

Turnberry Associates and Elion Partners have submitted plans for a new five-story project on Miami Beach’s ever-changing Alton Road.  The proposal, first reported by the Next Miami, includes a mixed-use building with 28,142 square feet…

Flagler Breaks Ground on New Class-A Distribution Warehouse

Coral Gables, FL-based Flagler Real Estate Services began work this week on a new 305,050-sqaure-foot warehouse and distribution facility at 11421 NW 107th St. in Miami, FL.  Flagler Station Building 8 is expected to deliver in early 2017.  The speculative industrial building will include on-site…

Wynwood buildings sell for $6M, more than triple 2014 price

A company controlled by Tony Cho sold two properties in Wynwood for $6.1 million, more than triple the last sale price in 2014.  County records show Wyn 560 LLC, which is controlled by Cho, sold the buildings at 560 and 566…

Video: U.S. Restaurant Industry Performance & Trends ~ Daren Tristano, EVP at Technomic

In this interview by Michael Bull, a commercial real estate broker in Georgia, Daren Tristano, EVP at Technomic, discusses current restaurant industry trends and as well as performance, and the implications for commercial real estate. Which franchises are finding the most success in today’s…

Commercial Property in Zip Code 33165: Year’s Top Buyers, Sellers, Ten Year Sales Volume

For commercial property of all types in Miami’s zip code 33165 the top buyers in the past year as listed by Costar on March 16, 2016, we…

Mid-Market Miami-Dade Industrial Properties Cap Rate Drifts Under 7% ; Top Buyers

The capitalization rate (cap rate) for mid-market industrial properties in Miami-Dade County (10,000 to 50,000 square feet) drifted to just under 7% in the most recent period…

Miami Downtown Development Authority Publishes Annual Report for 2014-2015

The Miami Downtown Development Authority (Miami DDA) published its annual report for 2014-2015.  The report reflects on the past year, which welcomed a flurry of exciting developments.  Some excepts: next year holds the promise…

Flagler Breaks Ground On New Class-A Distribution Warehouse

The new 305,050-square-foot warehouse and distribution facility is expected to deliver in early 2017.

City Of Miami Taps Firm To Sell Administrative HQ Building On Miami River

The 3.15-acre site sits on over 650 linear feet of the Miami River with redevelopment potential of up to 1,574 units.

Analyst Views Oversupply Not Airbnb as Bigger Potential Threat to U.S. Lodging Sector

While all-time highs in hotel room occupancy and average daily rates made 2015 a record year for revenue per available room (RevPAR), according to Moody’s, the ongoing construction boom adding thousands of new hotel rooms threatens to create a supply-demand imbalance, the ratings analyst said…

Park Plaza Apts Sold for $29.5M

A local investor acquired the 252-unit Park Plaza Apartments at 8140 SW 22nd St. in Pompano Beach, FL from MSL Property Management for $29.5 million, or approximately $117,000 per unit.  The 269,994-square-foot multifamily community was built in 1975 on 10.5 acres in Broward County. It features…

Wynwood Center Sold for $22M

Sterling Buildings, Inc. purchased the Wynwood Center industrial building at 201 NW 21st St. in Miami, FL for $22 million from Wynwood Propco LLC.  The sale represents a gain of 633 percent from just 17 months ago, when the seller purchased the 26,764-square-foot property built in 1941 from…

Traffic Index: Miami Ranks 7th Worst in Nation

Los Angeles took home the top spot in the country Miami traffic, while bad on its own, swells to disastrous levels when compounded by two factors: South Floridians are generally horrific drivers — the left-signal-turn-right move is a classic — and alternative public transportation options are…

The 1,900 Year Old (Really) Commercial Real Estate Listing

In 79 AD, the Roman cities of Pompeii and Herculaneum were famously destroyed by the eruption of nearby Mount Vesuvius, a volcano found near the Mediterranean coast of modern-day Italy at the Gulf of Naples.  At the time of the eruption, the Roman empire was in full flower, bringing with it…

Hyatt Hotels to buy Thompson Miami Beach, rebrand property

Hyatt Hotels will buy the Thompson Miami Beach and rebrand it as part of its Unbound Collection, the corporation announced on Monday.  Geolo Capital entered into an agreement to sell the 18-story, 380-room property at 4041 Collins Avenue and expects it to close…

Developer proposes micro-hotel on Washington Avenue

A group of developers submitted plans to the city of Miami Beach for a micro-hotel on Washington Avenue.
Rendering of the hotel’s facade  Washington Squared Owner LLC, an entity controlled by Andrew Joblon, wants to build a Z-shaped hotel with…

Compass space on Lincoln Road returns to market: $22.5M

Compass’ new Miami Beach digs at 605 Lincoln Road have returned to the market, this time with a listing price and a new lead brokerage firm.

South Florida by the numbers: Miami-Colombia real estate connection edition

“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.  The votes are in … the ballots have been counted … and the winner is … Colombia?  While our city…

Waterfront lot across from Beckham’s proposed MLS stadium sells for $6.7M

A developer picked up more than an acre across the street from David Beckham’s proposed Major League Soccer stadium in Miami, as the area becomes increasingly attractive to investors.  Fabio Faerman and Jonathan Molano…

Verzasca closes $13M deal for City Hall site in Edgewater

The Verzasca Group has closed on its $13 million purchase of land on Biscayne Boulevard in Miami’s Edgewater district, where the developer is planning a new residential project.  The deal, first reported by the South Florida Business Journal, covers…

Hudson Group Retail Leases 18,000 SF In Doral

The deal marks the second time in less than two weeks that State Street has brought a building within the park to 100% occupancy.

817-Foot Tower Proposed Next to Epic Hotel in Downtown Miami

With a lighthouse on the top floor The Epic in Downtown Miami could be getting a gorgeous new neighbor in the form of a 70-story condominium tower with a lighthouse on the top floor, according to The Next Miami: The 817-foot tower is proposed to include 384 residential units and 561 parking spaces.

Tour the Superyacht Invictus, Docked in Downtown Miami

This vessel was built to entertain Another week and another superyacht has taken its talents to Miami, this one at the Museum Park slip neighboring American Airlines Arena in Downtown Miami.  Meet the 217-foot Invictus, equipped with six decks and dazzling interiors enhanced by exotic woods, Italian…

Watch a Time Lapse of the Sold-Out Hyde Resort & Residences Topping Off

With an expected completion date set for Fall 2016 Hyde Resort & Residences has topped off 18 months after beginning construction in Hollywood.  The 40-story beachfront tower will have 367 hotel rooms and 40 condo residences, with the latter sold out. The collaboration of The Related Group and…

US commercial real estate sales sink in February

From the New York website: Is the boom about to bust? U.S. commercial real estate sales took a dive last month in what may be the clearest sign that six years of growth is leveling off.  In February, $25.1 billion worth of commercial property was sold compared with $47.3…

Fisher Island’s Palazzo del Sol: newest condo tower completed

A 59th new condo tower — the Palazzo del Sol At Fisher Island — has been completed east of I-95 in the tri-county South Florida region of Miami-Dade, Broward and Palm Beach since this current cycle began in 2011.
Deed transactions for three units in the newly completed…

Video: Watch Hyde Resort & Residences Hollywood Beach rise

Hyde Resort & Residences in Hollywood Beach is in the midst of topping off with a completion date for this fall.
The 40-story, beachfront tower will include 40 condominium units and 367 hotel rooms when it opens by the end of the year. Construction crews are expected to finish topping off the…

Related’s Jorge Perez among business delegates visiting Cuba

President Obama’s diplomatic visit to Cuba this week has captured the minds of many Miamians, whose ties to the island nation are arguably stronger than those of any other city in the United States.  But…

Upper East Side is Miami’s Most Popular Neighborhood for Renters

Zumper released their latest Miami rental report One-bedroom units are in the most demand for the Miami rental market, according to Zumper’s latest Miami Market Demand Report, generating “42 percent of inquiries with a median rent inquiry inquiry of $1,300.”  Two-bedrooms were the next most popular…

Controversy Brewing Over Potential Demolishment of Babylon Apartments

Babylon was Arquitectonica’s first building Babylon Apartments, Arquitectonica’s first building, is facing potential demolition albeit some controversy, reports the Miami Herald.  Claming the five-story complex as unsafe, the City of Miami and and owner Francisco Martinez Celeiro want the award-winning…

Miami Design District retail property trades for $21.5M

A retail building in Miami’s Design District has sold for $21.5 million in an off-market deal, as prices continue to escalate in the luxury shopping destination, The Real Deal has learned.  Elizabeth and Neil Rosen, who…

Starwood accepts Anbang’s takeover offer for over $13B

From left: Anbang’s Wu Xiaohui of Anbang (credit: Anbang Insurance Group) and Thomas Mangas of Starwood
From the New York website: Starwood Hotels & Resorts accepted Anbang Insurance Group’s takeover offer with the Chinese insurance giant acquiring the hotel owner and operator for…

Prudential borrows $45M for Coral Gables office tower

About three months after picking up a Coral Gables office building, Prudential Real Estate Investors closed on a $45.4 million mortgage for the 16-story, Class A office building.  In mid-December, Prudential paid $83 million for the 492,820-square-foot office building…

Amazon.com Inks Deal For New Distribution Center In South Florida

The initial term of the lease is for seven and one-quarter years.

Stockbridge Capital Purchases 228 Unit Luxury Apartments in Miami

Jamestown Properties sold the 228-unit Bridges at Kendall Place apartments at 8485 Hammocks Blvd. in Miami, FL to Stockbridge Capital Group LLC for $52.7 million, or approximately $231,000 per unit.  Built in 2013, the luxury apartment community is comprised of seven, three-story residential…

Terreno Realty Acquires Distribution Building In Medley

The asset was purchased for around $6 million.

Multinational Automatic Fire Sprinkler Producer Inks 26,000 SF Lease Deal

The deal marks the company’s first South Florida facility.

Firm Tapped To Market 120,000 SF Medical Office Condo

The project is set to break ground in August 2016.

Miami Ranks 30th (Last) in Metro Cities for Families

The Magic City bites the dust A few weeks back Apartment List concluded Miami was the 449th best city in America (out of 500) to raise a family.  Now they ran the study on a metropolitan scale, with Miami ranking 30th out of 30 cities, dead last for the Magic City. The four weighted factors were Safe…

Live Webcast From FASB On Lease Accounting Standards Update

Got questions abut the recent big changes in lease accounting standards?  Mark the date:  March 29, 2016, the Financial Accounting Standards Board (FASB) will host IN FOCUS: FASB Accounting Standards Update on Leases, a live webcast taking place from 1:00…

Successful Subleasing

I am wrapping up a sublease in Doral and am in the midst of marketing a beautiful one on Brickell, and I have realized many folks don’t understand the benefits of a sublease and the steps necessary to execute a successful sublease.  The majority of commercial office leases in South Florida…

Should You Be Buyer Or Seller Right Now?

As all the text books say, all real estate is local, and pricing depends upon that local market and its dynamics. in South Florida some product types are way out over their ski’s, and investment has slowed down given the drivers who have mostly influenced the landscape.

White House Taps Miami-Dade County For Program To Create Tech Jobs

With the goal to build a talent supply for the Information Technology industry, Miami-Dade will compete for some of the $100 million in TechHire-related grants from the U.S. Department of Labor.

New York Investors Acquire Miami’s Courthouse Tower

Brickman Associates, a New York-based real estate private equity firm, purchased the Courthouse Tower office building at 44 W. Flagler St. in Miami, FL from an entity controlled by the Donovan family.  The Courthouse Tower is located directly in the middle of downtown Miami. Totaling 26 stories…

CoastalTishman Breaks Ground on Miami Worldcenter and Paramount Miami Worldcenter

CoastalTishman held it’s groundbreaking ceremony this week for one of the largest mixed-use projects in the country, Miami Worldcenter. The project’s residential tower, Paramount Miami Worldcenter, broke ground in September 2015, according to CoStar research.  The site occupies 27 acres in the…

Air And Ocean Cargo Transport Company Inks Deal For 17,600 SF

The lease deal brings Prologis Beacon Industrial Park Building 4 to 100% occupied.

Management Of Aventura Office Tower Awarded

The Class A office tower totals 107,304 square feet.

NAIOP South Florida’s 2016 Awards of Excellence Held at Hyatt Regency

Last week NAIOP South Florida, a commercial real estate development organization, held its 2016 Awards of Excellence at the Hyatt Regency Pier Sixty-Six. The theme this year focused on community and individuals and organizations that benefited to the development of South Florida’s economic…

The Superyacht ‘Idol’ is Docked in Downtown Miami

Charter her for $290,000… a week Docked outside the Epic Hotel in Downtown Miami is Idol, a 193-foot superyacht built in 2007 and refitted in 2011.  It was designed by Austal with interiors by Sam Sorgiovanni. The vessel comes with the standard luxury yacht amenities, like WiFi, stabilizers, a jacuzzi…

Are There Warning Signs For A Hot CRE Market?

Coming off its second-strongest January ever, the national market in commercial real estate looks as robust and promising as it ever has. But are signs of a downturn hidden in all the good news?  Real Capital Analytics SVP Jim Costello thinks there are.  Costar…

Top 10 Office Tour Tips

I show office space every week and have done so for years. I have literally walked through hundreds if not thousands of office spaces and a myriad of buildings, so here are my top 10 tips for touring office space. Since you will be living in this space for years, you need to leave no stone unturned…

Signage: Your Name In Lights

The term “signage” is just commercial real estate jargon for signs. Signs have the potential of being a key component in an office lease negotiation. I have negotiated all types during my career and here are some ways to get your name in lights.  Typically all landlords grant their tenants…

Riverside Wharf: A ‘Good Deal’ For Miami

Because part of Riverside Wharf would be built on city-owned property, Miamians get a say in whether the project should get the green light when they go to the polls.

Foreign demand for US real estate is waning: experts

From the New York website: Real estate buyers from countries such as China, Russia, Canada and Brazil have poured hundreds of millions of dollars into New York real estate over the last few years…

Sagamore Hotel owner Martin Taplin dies at 77

Martin Taplin, a real estate investor, art collector and owner of the Sagamore Hotel, has died at age 77, The Real Deal has learned…

Developer to seek approval for mixed-use tower in Wynwood

A Brickell-based developer has filed plans for a 12-story office, retail and residential tower in Wynwood.
Wynwood Square aerial from the proposed plans.  One Real Estate Investment, founded and led by Jeronimo Hirschfeld …

Dezer, Related to close on $315M construction loan for Armani/Casa

Dezer Development and the Related Group plan to close on a $315 million construction loan for Residences by Armani/Casa in Sunny Isles Beach, and held a groundbreaking ceremony for the project on Wednesday…

Miami Beach approves measures to clean up Ocean Drive

Miami Beach commissioners on Wednesday moved to address long-standing complaints of petty crime, out-of-control noise and sidewalks overcrowded with tables and umbrellas on Ocean Drive.  Commissioners voted unanimously to adopt the recommendations of the Ocean Drive Task Force…

Video: Trump brags about his South Florida assets

Presidential hopeful Donald Trump visited South Florida this week for a golf tournament at his course in Doral, but also to hold a press conference in Jupiter about his recent primary win in Mississippi.
During his speech, the Republican frontrunner was…

Galbut to mostly demolish two Washington Ave sites to build new hotel

Miami Beach developer Russell Galbut is looking to build a seven-story hotel on the site of two retail buildings on 9th Street and Washington Avenue. Late Tuesday, the Miami Beach Preservation Board voted 6-1 to grant permission to Estis LLC, which is manage …