Miami Worldcenter Files Plans To Build U-Haul Surface Parking Lot

Miami First, LLC, a Worldcenter affiliate, submitted plans late last month to build an ‘outdoor vehicle storage facility’ for U-Haul.  The surface parking lot will be built at 1001 N Miami Ave, next to U-Haul’s existing facility. Nearly 50 trucks will be parked on the new lot, plans show.  A six-foot fence will surround the property, along…

Pipeline Workspaces opens 14,000-square-foot office in Coral Gables

Shared office concept Pipeline Workspaces has opened its third location in Coral Gables.  At first slated to open in April, Pipeline’s 14,000-square-foot office at 95 Merrick Way will cater to entrepreneurs, start-ups, lawyers and international business executives, the company said Monday.

Number Of Units Proposed At Worldcenter Reaches 2,569

Worldcenter proposed residential unit count as of September 2015 (excluding hotel):  Rental units: Luma – 429; Block G West – 422; Block G East – 450; Block E Rental – 418; Total – 1,719.  Condo units: Paramount – 470;
Block E Condo – 380…

North Miami Beach strip club could be redeveloped for mixed-use after acquisition

A group of developers plans a high-density, mixed-use development in North Miami Beach after purchasing a 2.2-acre site for $23.5 million.  CK Holding Group, led by Alberto Kamhazi and Jacobo Kamhazi, and Prive Land Banking, headed by Javier Rabinovich and Mariano Karner, acquired the property at the northeast corner…

Ibis Hotel Coming to a Brickell Lot that Apparently Used to be Full of Chickens

An Ibis Hotel is being built by Galwan, a Brazilian developer, on a surface parking lot in Brickell, according to The Next Miami, that before it was a parking lot used to be called the ‘chicken lot’ because it was full of chickens. It might still be full of chickens, although Curbed didn’t check i…

Comment of the day: “Faena and Foster’s partnership has succeeded…

“Faena and Foster’s partnership has succeeded in creating the most pristine suites of sterility on the beach. The alero feature is dramatic, but everything else is a chromatic void probably best experienced behind oversized Persol shades, and a fedora.”—designated [Inside the First Faena House…

Walmart Wars: Chronicles of the Midtown Miami Walmart Wars, Continued

After being sued over and over again, Walmart is that much closer to opening its three-story, 203,000-square-foot superstore in Midtown Miami. On August 24th, Walmart won its latest appeal in Miami-Dade Circuit Court against neighborhood activists. The group of opposing residents argue the store

Commercial Real Estate National News Roundup For Sept. 22, 2015

Trump does Bali, the Fed hits the snooze button, European commercial investment levels are dropping jaws, and just what does three hundred bucks a square foot get you in Manhattan?  It’s all here at the Commercial Real Estate News Roundup for September 22, 2015.  General: The Verdict on…

PortMiami Hoping to Continue P3 Success

A new public private partnership (“P3″ or “PPP”) is coming to PortMiami. Royal Caribbean Cruises, LTD (“RCCL”) seeks to design, build, finance, operate, and maintain a new cruise terminal in the northeast section of the Port. RCCL’s plans have been…

After Record Sale, The Lincoln Up for Grabs Again

“We are seeing record high interest from retailers and companies looking for space on Miami Beach, particularly near Lincoln Road.”

Ken Krasnow Makes ‘Catches its Breath’ Prediction

“ If I had a crystal ball, I would say that in 2016 we will not see…”

Is the South Florida Market Too Hot?

Are we about to see a repeat of the crash that left condos in default and office space dark?

South Florida-born pizzeria to open 50th location

Anthony Bruno, who grew up in New York, said good pizza concepts were scarce in South Florida before he opened his coal-fired pie eatery in Fort Lauderdale.  “I never really heard anybody tell me about places with great pizza,” he previously told the South Florida Business Journal.”I knew I could put out a pizza that people would talk about.”

About Keyes Commercial

Owner of Lincoln building in South Beach looks to cash out

The German firm that owns the Lincoln building on South Beach – just steps from the Lincoln Road Mall – has put it up for sale.  The retail/office building at 1691 Michigan Ave. was recently listed for sale by Colliers International South Florida’s Stephen Rutchik and Jonathan Kingsley – the longtime leasing agents – and CBRE’s Christian…

Development Update: Chinese Developers Bringing ‘Iconic’ Building to Brickell, Beach Club to the ‘Northern’ End of South Beach

Chinese developers American da Tang Group and China City Construction are planning to bring an “iconic” new building to the former Capital Brickell Place property in Brickell, according to Shanjie Li, the CEO of American Da Tang Group. Curbed Miami once affectionately dubbed…

Developer proposes 94-unit condo in Miami’s Edgewater

Condo developer Spider wasted no time in filing plans for its latest Miami project after buying land in the Edgewater neighborhood.  On Aug. 19, the company led by Andres Goldenberg paid $4.4 million for the 27,000-square-foot site at 113 and 123 N.E. 25th Street. The land currently has small residential buildings.

Generator Hostels plans to convert Atlantic Princess Condo in Miami Beach

London-based Generator Hostels has acquired nearly all of the units in the Atlantic Princess Condominium in Miami Beach and plans to convert it into one of its first high-end hostels in the United States.  From April 29 to Sept. 2, 102 units in the building at 3120 Collins Ave. were sold to G 3120 Collins LLC. The LLC was managed by Miami…

Wynwood developer scores $10M in loans to redevelop warehouses for retail/restaurants

J Cube Development obtained $9.75 million in loans from City National Bank of Florida to redevelop and retrofit two vacant warehouses in Miami’s Wynwood Arts District for retail and restaurants.  Aztec Group’s Charles Penan and Howard Taft represented the developer in the transactions covering 201 N.W. 21st Street and 2217 N.W. Miami…

Firm Tapped To Market 77,000 SF Office Asset

Elizabeth Santos, Senior Vice President with Sime Realty, will be spearheading the leasing efforts.

Can You Spot These Architectural Details Around South Beach?

To the world Miami Beach equals Art Deco (well, except for the Fontainebleau, which is just as famous. No, actually the world probably thinks the Fontainebleau is deco too) and Art Deco… well, except for the Chrysler Building and maybe something in Paris, equals Miami …

Comment of the day: “I agree that Moishe Mana’s plan…

“I agree that Moishe Mana’s plan is ambitious and applaud his efforts. Hopefully he decides to just renovate the properties instead of tearing them down. Having historic status does really help save these buildings.”—Kevin Spores

Rep. Frankel’s opposition still blocking Palm Beach port expansion

Port of Palm Beach seeks $88.6 million to expand.  Federal funding for a proposed plan to dredge and expand the Port of Palm Beach remains unavailable more than a year after U.S. Representative Lois Frankel told U.S. Army  to withhold the money.  Tim Murphy, deputy district engineer of the…

Home builders Lennar, Toll Brothers target renters

Toll Brothers is taking its regional rental business nationwide.  Lennar Corp. and Toll Brothers Inc., two of the nation’s biggest home builders, are making a push into apartment construction despite doubts about the sustainability of the multifamily development boom.  Lennar said…

Bay Harbor condo groundbreaking expected in 2016

Juan Carlos Gomez, a Colombian developer, intends to break ground for a seven-story, 41-unit condominium in Bay Harbor Islands early next year.  Unit sizes at the Bijou Bay Harbor condominium would be 900 square feet to 2,000 square feet, and the prices start at $530 per…

Office complex in West Palm Beach for sale

The owner of the Forum office complex in West Palm Beach has listed the 280,000-square-foot property for sale.
The owner is an affiliate of Miami-based Panther Capital Management, which bought the Forum for $13.7 million in 2010.  The Forum is a cluster of…

What the Fed’s Move Means for CRE

“The combination of no current interest rate hike and uncertainty about future tax policy should be a short-term catalyst for…”

As the Worldcenter Turns: Grand Central Will be Replaced With Two Apartment Buildings

Grand Central, the much loved Downtown Miami club, is closing its doors at the end of this month to make way for a (relatively) small part of the gargantuan Miami Worldcenter megaproject, with a final bash on Saturday September 26th. Then, according to The Next Miami, it will be replaced with two…

Coral Gables’ Paseo de la Riviera Goes to City Commission

The proposed Paseo de la Riviera mixed-use development in Coral Gables survived its Planning and Zoning Board meeting last night without the board issuing a recommendation to either approve or deny it, leaving the project’s fate entirely up to the city commission. Board members did suggest lowering…

Plans For Chiquita Apartments Revised After Being Criticized By Board

Miami’s UDRB reviewed revised plans yesterday for the proposed Chiquita North apartment complex next to Midtown Miami.  An attorney developer AMLI said that massing of the building has been broken down into two separate building connected at the rear for access to parking and amenities. Additional height has been added…

Comment of the day: “Someone has yet to attack Moish Mana…

“Someone has yet to attack Moishe Mana for his intentions to “renovate” the old Woolworth/Foot Locker building into a glass box. Even the S. S. Kresge building next door looks better from its 1980s “Flagler Station” renovation than what he wants to do with it. Many of America’s great cities still…

New Green Space in Wynwood Will Have Prototype Container Home, Miami’s First Culinary Incubator, Etc.

A new outdoor green space self-described as a “culinary incubator… entrepreneurial and community hub” is coming to 70 NE 29th Street in Wynwood, called Wynwood Yard. Designed by Wynwood-based architecture firm RoyalByckovas, the project will reportedly have…

Among the world’s major cities, Miami Beach remains the most attractive for its prices per square foot

Beyond being one of the main tourist destinations throughout the year, Miami and surrounding cities have become a great real estate investment opportunity not only because of its competitive price per square foot, which compared to other cosmopolitan cities around the world remains the lowest, but…

Fort Lauderdale Real Estate market Is Booming

Ten new condo buildings with more than 100 units have been announced for the Las Olas Isles neighborhood located between the Downtown Fort Lauderdale mainland and the barrier island beaches – In the Downtown Fort Lauderdale and Beach market, developers have announced plans to construct at least…

PortMiami ready for huge ships as Deep Dredge finishes

PortMiami completed its Deep Dredge project that will allow it to welcome the largest class of container vessels.
The port will hold a ceremony at Cruise Terminal E at 2 p.m. on Friday to mark the finish of more than $1 billion in infrastructure projects. Now that its channel is 50 to 52 feet deep, post-Panamax cargo vessels can visit the port.

Russian-led developer breaks ground on two Miami-Dade condo projects

Verzasca Group, a team of developers who entered South Florida from Russia and Europe, recently broke ground on two condo projects in Bay Harbor Islands.  Le Jardin Residences is slated for 30 units at 1150-1160 102nd St., and Pearl House has 15 units going up at 1170 101st St. Units in Le Jardin, with an average size of 1,570 square feet

Miami Makes It To The Nine Most Competitive Housing Markets of 2015

It’s no secret that U.S home prices have rebounded from their recession lows, to the extent that some people are wondering if we’re in a new real estate bubble.  However, some housing markets are more competitive than others. FindHome.com has come up with its own list of the most competitive…

Brickell City Centre reports strong retail leasing

The majority of the retail space at Brickell City Centre is already spoken for a full year before the massive urban mall is set to open.  Swire Properties’ retail executive Debora Overholt said 450,000 square foot of the 500,000 square feet of retail is in advanced negotiations and they plan to…

Swire Building Sugar, A Rooftop Lounge On The 40th Floor Of Brickell City Centre

Swire Properties has started the build out of a rooftop bar and lounge at Brickell City Centre, construction filings reveal.  The 40th floor restaurant, to be called Sugar, will be located at the top of the EAST hotel, which was the first tower to top off at the project. It will…

Miami Is The Second Most Popular Destination For International Visitors

Miami is among the fastest growing destinations in the U.S. for overseas visitors, as tourists continue to flock to the city.  In 2014, international visits to Miami increased 21%, setting a new record. Overall, Miami had the second most visitors from overseas in the U.S., behind only New York City.

Equinox fitness chain is taking the over the industry and will be part of Brickell Heights

The chain of luxury gyms will have nearly 80 clubs by the end of 2015 and has announced plans to launch a chain of upscale hotels with focus on physical health in Los Angeles and New York.  “Our client has a lifestyle of high performance,” said the head of marketing for Equinox Carlos…

Great interest of Latinamerican investors in Hollywood and Hallandale Beach

Just 10 minutes north of Miami, by the beach, there are the cities of Hollywood and Hallandale Beach, which have become one of the most prosperous areas of South Florida not only for its proximity to the Atlantic Ocean but because of its everyday dynamic and family friendly environment.  Characterized…

In December, Prices For Homes In Miami Rose The Fastest Nationwide

Home prices in Miami rose faster than any other major U.S. city in December, according to the S&P/Case-Shiller Home Price released.  Miami home prices rose 0.7% for the month. Nationally, home prices were down 0.1% on average for the month.  For the full year 2014, Miami ranked second nationwide…

Related Group CEO Jorge Pérez in his own words on Miami’s economy

Miami’s most prolific condo developer, Related Group CEO Jorge Pérez, is understandably optimistic about the local economy’s future, yet he sees several challenges that must be overcome to make the city a more attractive place to live.  “Miami is one of the top cities for…

Miami Site On Edge Of Overtown And Wynwood Sold For $16M

Last traded for $1.63 million in 2004, the seller got a big return on investment without building on the 2.5-acre site.

Amicon tapped to build Lord Balfour expansion

The owners of Miami Beach’s Lord Balfour hotel have hired Amicon Construction to head their expansion plans.
Eidico, the firm formed by the Argentine developers who own the Lord Balfour, is planning to…

J Cube Development lands $10M for Wynwood sites

Remy Jacobson of J Cube Development closed on a combined $9.75 million in financing for two Wynwood properties, real estate investment firm Aztec Group announced on Thursday.  The first $6.25 million loan is for a 26,76…

Verzasca breaks ground on two Bay Harbor projects

Verzasca Group has broken ground on Pearl House and the Le Jardin Residences, its two boutique condo projects in Bay Harbor Islands.  Pearl House was the first announced project by the Russian development team in the United States.

Related’s Auberge Residences wins board approval

Miami’s Urban Development Review Board on Wednesday afternoon signed off on Related Group’s three-tower mixed-use project at 1400 Biscayne Boulevard.  Board members unanimously approved several design waivers the developer sought for the 2.8 acre project…

Paseo de la Riviera heads to Coral Gables commission

Paseo de la Riviera, a proposed mixed-use project in Coral Gables, drew heated controversy at a packed planning and zoning meeting Wednesday evening, before board members voted to send it to the city commission without a recommendation.  If anything typifies Coral Gables…

SoFla still second highest for foreclosures in August

Despite a strengthening housing market, South Florida reported the second highest foreclosure rate in the country during August.  A new report from RealtyTrac said that the Miami metropolitan area, which covers Miami-Dade, Broward and Palm Beach counties, had a foreclosure rate…

If You’re Against EB-5 Funding, Read This

“We should be realistic when discussing the EB-5 program.”

Why This Old MF Sold for Such a High Price

Regency Major Apartments was built in 1969, but these factors drove a hefty price tag for a nearly 50-year-old asset.

Flashback Photos of Pan Am in Miami

On Oct. 28, 1927, a small wood-and-fabric plane rolled down a dirt runway in Key West, lifted off and headed for Havana to make the first scheduled international flight of a U.S. airline. It was made by a fledgling firm called Pan American Airways. Though it would later be based in New York City, the airline’s links to South Florida…

Keyes Commercial

Miami Worldcenter’s mixed-use tower, trio of Related Group towers among new projects in Miami

Miami officials are set to consider the design of a host of projects on Wednesday, including a mixed-use tower at Miami Worldcenter, a trio of residential towers by the Related Group and a residential building in Edgewater.  The proposals will go before the Urban Development Review Board this afternoon for feedback on their designs.

Expedia Leases 23,000 SF at 701 Brickell

Online travel booking site Expedia.com leased 23,179 sqaure feet in the office building at 701 Brickell Ave. in Miami, FL.  The 677,667-square-foot office building was constructed in 1986 in the Brickell submarket. TIAA-CREF acquired the asset in 2002 for $172 million, according to CoStar data.

Atlanta’s Jamestown buys historic South Beach building for $12M

Atlanta-based Jamestown L.P. bought the historic London Arms building on South Beach, giving it a third property on Collins Avenue.  Aria Development Group affiliate 727 Collins Acquisition sold the 21,120-square-foot, mixed-use building – built in 1930 – for $12.3 million to Jamestown Premier 727 Collins Avenue. It’s pat of commercial…

Terreno Realty Corp Pays $17.3 Million for Miami Industrial Ctr

Terreno Realty Corporation acquired the four-building Miami Industrial Trade Center at 8315-8485 NW 74th St. in Miami, FL from TA Realty for $17.3 million, or about $112 per square foot.  Totaling 154,560 square feet of warehouse space, the four buildings are located west of Miami International Airport…

Starwood Acquires Huntington, Miramar Centre Portfolio for $82M

Starwood Capital Group has acquired the Huntington Centre I and II at 2801 – 2901 SW 149th Ave. and the Miramar Centre I and III at 3401 and 3601 SW 160th Ave. in Miramar, FL from MetLife Real Estate Investments for $82 million, or about $219 per square foot.  The portfolio totals 373,902 square…

Jefferson Monterra Apts Sold for $55.7M

Jefferson Apartment Group and Starwood Capital Group sold the 252-unit Jefferson Monterra multifamily complex at 2940 Solano Ave. in Cooper City, FL to Morguard Corporation for $55.7 million, or approximately $220,000 per unit.  The 268,620-square-foot apartment community consists of one-, two-, and…

Sleeping Around: Lord Balfour Hotel Building New Wing on Ocean Drive

The Lord Balfour Hotel, which was just renovated in 1013, is building a new expansion in the empty lot next door, to its south. Designed by EoA Architects, and being built by Amicon Construction, the contemporary structure with sort of a sailing ship-like wooden facade will contrast with the art…

Possibly Coming Attractions: Even More Lake-Sized Pools Could be Coming to Miami

The two massive ten-acre, environmentally friendly swimming pools/ lakes/ lagoons coming to the SoLe Mia Miami megaproject could be just the beginning of more to come. Uri Man, CEO of Crystal Lagoons, the company designing and building the lake-sized pools…

Preservation Watch: Vizcaya Planning for the Future of Its Historic Farm Grounds

With the closing of the Miami Science Museum, the neighboring Vizcaya Museum and Gardens has begun even more seriously planning for their eventual accession of the science museum’s grounds, which were originally a portion of Vizcaya’s historic farm…

Reform on the horizon for the popular EB-5 Program

The 2016 political season has kicked into high gear, sparking lively discussions about major issues affecting the country. Two of the most significant issues being debated among the candidates are the economy and immigration. Typically, these topics are analyzed independently; however, the conversation…

Are EB-5s the Answer to Affordable Housing?

EB-5s have plenty of critics, but do the benefits on the affordable housing front drown them out?

Get on the Underline with Meg Daly

Miami is the fourth most dangerous place for pedestrians in the U.S. and Florida is the most dangerous state for cyclists. Meg Daly has an idea to help fix that, and it begins with building the infrastructure to support increased biking and walking throughout the city’s urban core.  Inspired by The High Line in New York and The 606…

Glen at Lauderhill Sold for $44.8M

Turner Multifamily Impact Fund LP acquired the 405-unit The Glen at Lauderhill at 2360 NW 56th Ave. in Lauderhill, FL from Priderock Capital Partners LLC for $44.75 million, or about $110,000 per unit.  The multifamily property features a business center, car wash, club house, and pool. In 2009…

Chinese Want To Build Miami’s Tallest Tower In Brickell, Hire Arquitectonica (Updated)

China City Construction Corp. is one step closer to building the tallest tower in Miami.  Company officials traveled to New York on Monday to ink a deal with Arquitectonica for design work on a twin-tower project at the Capital at Brickell property. China City bought the vacant 2.78-acre site last year for $74.74 million.  China City wants…

4 riverfront towers of 58 to 60 stories likely

Another billion-dollar development is poised to change Miami in a big way and has garnered preliminary approval from city commissioners.  Called simply Miami River, the mixed-use project would bring hotel rooms, apartments, retail stores, restaurants and offices to the…

First Look At Arquitectonica’s Design For Game-Changing Block E At Worldcenter

Block E at Miami Worldcenter will surely be a transformational development for Park West. Now, renderings of Arquitectonica’s design for the project have been obtained by TNM and published for the first time.  Located at 725 North Miami Avenue, the project will include condo units, rental units, and two hotels. Also included will be…

Espirito Santo Plaza on Brickell sold for $142 million

The Espirito Santo Plaza office tower in Miami’s Brickell financial district sold for $142 million to an affiliate of Gaedeke Group.  The 36-story building at 1395 Brickell Ave. was placed for sale after Rio Forte Investments filed for relief from its creditors in Luxembourgh in 2014, an event related to the collapse of Portugal’s Banco Espirito…

Vacant land in Arts & Entertainment District sells for $16M

A development site in Miami’s Arts & Entertainment District was just sold for $16 million to a California-based company. The sale includes two side-by-side parcels (folio 1, 2; area demographics, listings) that take up an entire city block at 1950 Northwest First Avenue, totaling roughly 2.5 acres, according to Miami-Dade County records.

East Hotel At Brickell City Centre Taking Reservations For March

Reservations are now being accepted for Brickell City Centre’s East Hotel, but rates aren’t cheap.  Rooms are available beginning in March 2016, through September 2016. Rates start at $499 in March, but drop to $259 by summer.  The developer still says that they are on track to open the 352-room hotel by December of this year.

Rambleside offers $507M for Delano and another Morgan hotel

Activist shareholder and Rambleside Holdings CEO Gregory Cohen is stirring things up yet again, this time offering to buy two hotels owned by Morgans Hotel Group in a move that could complicate merger talks for the lodging company. In a letter sent Sunday to the Morgans board, Cohen said Hudson Square-based Rambleside would pay…

Cladding Installed At Brickell City Centre, Giving A Glimpse Of The Finished Product ~ Photos

Crews have been installing cladding on the exterior of the Arquitectonica-designed Brickell City Centre recently.  This is what Miami residents could be looking at for decades to come.

$10 million targeted to restore beaches

County commissioners were scheduled this week to approve increasing funds by $10 million for a program to re-nourish Miami-Dade’s beaches and protect its shoreline.  The legislation would reduce an allocation of $10 million to the Building Better Communities Obligation Bond Program project for…

Finding use for former museum

Members of the Vizcaya Museum and Gardens Trust will integrate the public’s ideas into an evolving master plan for developing a new cultural center at the county-owned estate and grounds on South Miami Avenue in Coconut Grove.
Three public forums will be held from 6 to 7:30 p.m. Sept. 24, 9 to…

World Trade Center Miami goes regional

The World Trade Center Miami, now in its third decade, is looking at new strategies to increase its outreach and further its mission.  “Our mission is to increase two-way trade – exports and imports,” said President Charlotte Gallogly, “and our second mission is to strengthen…

Historic Miami Beach Building Trades For $12.3 Million

The four-story, 21,120-square-foot mixed-use property was originally constructed in 1930.

Tom Ford’s Design District Flagship Is What You Expected It To Be

Tom Ford is housed behind arguably one of the most visually stunning facades in all of the Design District: a “pleated” surface of angular and a-symmetrical, glass-fiber-reinforced-concrete panels, which perfectly compliment Tom Ford’s minimal, modern, yet elegant aesthetic.

Worth 1000 Words: Can You Spot These Architectural Details Around Downtown?

Beautiful and exquisitely detailed architecture, from Beaux Arts grandeur to modernist zing, is everywhere in Downtown Miami; and much of it is waiting to be celebrated. Photographer Phillip Pessar documented some of the great and small highlights of Downtown’s architect…

U.S. 1 Paseo Project Could be ‘Big’ News for Coral Gables

Developer, NP International, is awaiting the City of Coral Gables’ approval to move forward with plans for Paseo de la Riviera, a $172 million, 2.66-acre, mixed-use project, shrewdly located across U.S. 1 from the Metrorail and the Underline. Replacing the existing Holiday Inn at 1350 South Dixie…

Florida Supreme Court rules in favor of Skyrise Miami

Rendering of SkyRise MiamiA ruling by the Florida Supreme Court in favor of Jeff Berkowitz’s Skyrise Miami project could put an end to the remaining legal challenges trying to stop the 1,000-foot observation tower from breaking ground.  On Tuesday morning, the high court denied community…

Ocean Land Investments completes first new Fort Lauderdale condo project

Developer Ocean Land Investments has completed the first of at least six new condo projects announced for waterfront sites in the Downtown Fort Lauderdale and Beach market since this South Florida real estate cycle began in 2011.

Underwater homes are surfacing in Miami-Dade: report

As the national housing market continues its recovery, fewer homeowners in Miami-Dade County are reporting underwater mortgages.  A new report from CoreLogic states home values in the United States have been rapidly increasing, which has helped alleviate the large numbers…

Quaye at Wellington nabs $53M construction loan

The Quaye at Wellington, a green-designed apartment community, has secured $53 million in construction financing, its financial advisers announced on Tuesday.  Created by a team of Tampa-based developers, the project is to be built on 31 acres in the 1000 block of…

Miami nightclub E11even boosts mortgage to $18M

The owner of E11even, a 24-hour nightclub and cabaret, has boosted its mortgage to $18 million, Miami-Dade County records show.  The 20,000-square-foot club, at 29 Northeast 11th Street in Miami, is a $40 million development that was completed in 2013. It’s across…

Historic Miami Beach building sells for $12.3M

London Arms, a historic hotel-turned-affordable housing complex in Miami Beach, was just sold for $12.3 million.
The four-story building is Neoclassical revival in style and was most recently owned by a joint venture between…

What FASB Changes Impact Lease Accounting

“Property management should immediately conduct a strategic evaluation of the existing lease portfolio…”

Historic Building With Coveted Address Trades

“This acquisition demonstrates a continued international appetite for well-located boutique assets with in-place cash flow and upside potential.”

Spider Crawls Into Edgewater With Fast-Track Model

Spider is ready to go to the Miami Design Board for review of its project just three weeks after closing on a four-acre land assemblage here.

All Aboard Florida Courts Azucar, Panther, Serfer for Downtown Station

Though completion of All Aboard Florida’s downtown Miami train is still two years away, company officials last week met with owners of some of Miami’s favorite spots in hopes of luring locals to the sprawling hub.  Among those the company is trying to woo are Mignonette’s Danny Serfer, Blackbrick’s Richard Hales, Panther Coffee, Azucar…

Multifamily Loan Delinquencies Fall as Eager Lenders Provide Plenty of Capital

It’s relatively easy to find an apartment loan today. “For almost any apartment deal today, you can find a lender, you usually can find a couple of them,” says Mike Riccio, co-director of national production for CBRE Capital Markets.  That’s partly because so few apartment loans are in trouble. Very, very few apartment loans were late in the…

Middle East Outbound Global Property Investment at Historic High in 2015

According to CBRE, during the first half of 2015, $11.5 billion of capital flowed out of the Middle East into direct real estate globally–surpassing the previous half-yearly high of $9.6 billion recorded in H1 2007. Total Middle East outbound investment during 2014 stood at $13.8 billion.  The amount of the region’s foreign investment…

Grand Beach Hotel planned for Bay Harbor Islands will be voted on this week

MB Development’s proposed 99-room hotel will go before Bay Harbor Island’s town council on Wednesday for a first reading, where the project may be approved or denied. If given the OK, the Grand Beach Hotel Bay Harbor would be built at 9601 East Bay Harbor Drive with six floors of hotel rooms over a first-floor pedestrian promenade…

New Miami sharespace is looking to squeeze every last drop from creative techies

A new South Florida sharespace is looking to bring bleeding-edge business concepts to Miami’s Midtown neighborhood.  Orange Republic, a co-working space currently under development at 25 NW 34 th Street, is the brainchild of half a dozen Miami professionals in finance, business development, communications and law…

Development Update: Miami Beach Convention Center Construction Could Begin in Late December

Despite earlier reports to the contrary, including from the center’s own website, the redo of the Miami Beach Convention Center won’t break ground now until late December, and that’s if everything goes according to plan, which it hardly ever does. The City Manager will bring the final negotiated…

10+ Year, $10 Million Dollar Office Lease Negotiated In Downtown Miami

NAI Miami’s Richard Linevsky negotiated the deal.

Five Lease Transactions Closed At Lyons Tech

Lyons Technology Center consists of 49,336 square-feet of industrial, warehouse and flex space.

Public Art: An Artist Buried a Limo in the Middle of Downtown Miami

“Why is there a half-buried stretch limo in the middle of Downtown Miami?” you may ask. “Whose limo is that? Is it a comment on how the decadence of Miami real estate development will bury you, or at least your car, alive maybe?” Turns out, it kind of is.  For Downtown…

100 Montaditos’ U.S. operator strikes deal to emerge from bankruptcy

The Florida-based operator of 100 Montaditos’ U.S. restaurants could emerge from bankruptcy as early as November.  Bankruptcy Counsel Mariaelena Gayo-Guitian, a partner at Genovese, Joblove & Battista, told the South Florida Business Journal that 100M Holding, Inc. recently reached an agreement with its creditors committee…

These Miami Developers Are Racing to the Finish

Miami’s development scene is thriving, but is it too much too fast? You decide….

Miami Worldcenter Visionary Shares 2016 Insights

“The real story right now is…”

Coral Gables to consider $172 million mixed-use project near University of Miami

The $172 million Paseo de la Riviera project hopes to introduce a new hotel, an apartment building and commercial space across the street from the University of Miami in Coral Gables.  The project by NP International will seek approval before the Coral Gables Planning and Zoning Board on Sept. 16. The developer has the 53-year-old…

Developer plans 12-story apartment building in Coral Gables

A local builder wants to redevelop a site in Coral Gables into a 12-story apartment project called Villa Valencia.  Valencia 34 Development, an affiliate of Coconut Grove-based TM Residential led by Matthew Pellar, filed the zoning application with the city on Sept. 2. It calls for 103 luxury apartments on the one-care site at 501, 515…

PortMiami makes way for larger ships, more cruisers

The cruise capital of the world isn’t about to let another city steal its title.  Juan Kuryla, director of PortMiami, told the Business Journal that its newly announced deal to build a new terminal with Miami-based Royal Caribbean Cruises Ltd. is just one of many plans in the works that will invite more cruisers and cargo to the port.

Regency Manor Apartments in Miami sell for $17.5M

A publicly traded company sold the Regency Manor Apartments just east of Miami International Airport for $17.5 million.  Regency Manor Florida Owner, an affiliate of Philadelphia-based RAIT Financial Trust (NYSE: RAS), sold the 148-unit complex at 1102 N.W. 43rd Ave. to Regency Manor Residences. The buyer, a Miami-based…

The Deep Dredge completion countdown begins

PortMiami will be big ship ready as of Sept. 18, becoming a viable option for trade and commerce from the Southeastern United States to reach markets worldwide. The Port will be the only major global logistics hub south of Virginia capable of handling bigger post-Panamax vessels.

Tallest Residential Tower South of Manhattan Commences Construction in Miami

One day residents of Miami’s Brickell Flatiron tower will awake each morning for cardio in the clouds and swimming above the sunrise. In a move that will create added value for the residents of Brickell Flatiron’s 549 units, developer CMC Group has opened the 64-story tower’s rooftop up to the entire building with the creation of a Sky Spa…

Mekka Demolition Almost Complete at Miami Worldcenter Site

Demolition of the former Mekka nightclub at the future Miami Worldcenter site has almost completed two weeks after it began, with demo moving forward at the nearby Will Call bar, according to photos taken today by photog Phillip Pessar. Mekka was a pretty happening place right up until its recent…

Up in Lights: Morris Lapidus’ Ainsley Building Gets Sexy Nighttime Glow

The Flagler Street office building originally known as the Ainsley Building was designed by seminal MiMo architect Morris Lapidus in 1952, just around the time he designed his most famous building, the Fontainebleau. Having been renamed One Flagler by developer Harvey…

Commercial Real Estate National News Roundup for Sept. 14, 2015

Drone testimony from NAR’s President, 50M new square feet of industrial comes online, and apartment tenants controlling thermostats and window shades with their smart phones — it’s all here in the Commercial Real Estate News Roundup for September 14…

The SBA Loan Market: Financing In Greater Demand Than Ever

Nationally speaking, the finance of owner-occupied commercial real estate seems to never get significantly easier. Our current national economic conditions of recovery have not yet heated up the average enthusiasm of bankers for financing sub-$2M expansions in most real estate sectors, which…

Meet the Firm That’s Changing Florida CRE Scene

Art Falone, co-founder and managing principal at Encore, shares details about transformative projects with Jennifer LeClaire’s GlobeSt.com in this interview….

Capital One Makes $89M Loan for Miami Multifamily

The banking giant had good reasons to make the bet….

Ugo Colombo’s New Condo Tallest South of NY

Developed by CMC Group, Brickell Flatiron is nearly 50% sold out.

Keyes Commercial

Floorplans for American Dream Miami Megamall Leak

Plans to build the largest mall in America in the western reaches of Miami-Dade are moving on full speed ahead with little impediment, and today we’ve got out look at what exactly the layout of the mall will look like. South Florida Business Journal reporter Brian Bendall got a hold of the plans and tweeted out some choice renderings.

First Look At Arquitectonica’s Design For Game-Changing Block E At Worldcenter

Block E at Miami Worldcenter will surely be a transformational development for Park West. Now, renderings of Arquitectonica’s design for the project have been obtained by TNM and published for the first time.  Located at 725 North Miami Avenue, the project will include condo units, rental units, and two hotels. Also included will be…

Regions Bank lends $29M to build Miami-Dade industrial park

Regions Bank made its second major construction loan in a month to Bridge Development for its industrial park in Hialeah Gardens.  In the latest deal, the bank provided a $28.76 million mortgage to Bridge HG One, an affiliate of the Chicago-based developer, to construct the 420,989-square-foot Bridge Point Crossroads East. Construction…

Demolition sets stage for 30-acre Miami Worldcenter – photo feature

Crews from Suffolk Construction demolished a former nightclub in Miami to clear the way for the $1.7 billion Miami Worldcenter project.  The smashing of the former Mekka nightclub on Sept. 3 was the first step preparing a 30-acre site for the massive mixed-use project in Miami’s Overtown neighborhood. See photos of the razing…

Homestead Shopping Center Trades

Kristopher G. Wagner, P.A., Director, Commercial Sales with The Keyes Company-Commercial Real Estate Division, negotiated the sale.

Are the Chinese Constructing Miami’s Tallest Building in Brickell, and a Six Acre ‘Beach Club’ in South Beach?

The Chinese construction firm China City Construction has allegedly hired Arquitectonica to build them Miami’s tallest building at the former Capital at Brickell/Capital Brickell Place site in Brickell, according to The Next Miami. It will be a pair of towers, at least one…

Construction panel targets labor shortage, public-private partnerships

The shortage in quality labor, the challenges to public-private partnerships and the viability of EB-5-funded projects were among the topics discussed at a forum covering civic and vertical construction on Thursday morning.  “Florida is such an active market. Maybe it…