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…

5 new things about the American Dream Miami mega mall

Robert Gorlow, the head of Florida operations for Triple Five Group, revealed new details about the massive American Dream Miami mall and theme park project during a meeting with the South Florida Regional Planning Council on Wednesday.  Gorlow has been working with the developer for two years to build what could be…

First new Faena condo tower completed in Miami Beach

The first of four planned oceanfront condo towers in the much-anticipated Faena ultra-luxury project stretching from 3200 to 3500 Collins Avenue in Miami Beach has been completed since this South Florida real estate cycle began in 2011. Transactions in the newly completed Faena House project — officially called the 3315 Tower…

No balconies on north side of historic structure in Shore Club project

The Miami Beach Historic Preservation Board on Tuesday rejected a request by New York-based HFZ Capital Group to add balconies to the northern side of a historic structure as part of its renovation of the Shore Club hotel at 1901 Collins Avenue. The Board received and rejected a similar request by HFZ in May, to add balconies to a renovated…

Historic Gables Property Trades

The new owners also have the opportunity to either monetize the transfer development rights from this historically significant property or potentially develop an additional floor.

CMC Group to Break Ground on Soaring Residential Tower After Receiving FAA Approval

Reaching 50 percent sold and receiving approval from the Federal Aviation Administration, the Brickell Flatiron Tower will break ground this fall. CMC Group expects to deliver the 549-unit, 730,000-square-foot condominium building in 2018. The asset is located in downtown Miami at 1001 S. Miami Avenue…

Aventura Industrial Center Owner Retains CRE Firm

Colliers International South Florida LLC has won the leasing assignment for the Aventura Industrial Center located at 555 NE 185th St. and 320 NE 187th St. in Miami, FL.  The two industrial buildings total 302,825 square feet and were constructed in 2007. Both of the buildings are currently 100…

Dividend Capital DPF Pays $45.8M for Venture Corp Ctr

Dividend Capital Diversified Property Fund, Inc. purchased the Venture Corporate Center office park at 3440 Hollywood Blvd. and 200 – 300 S. Park Rd. in Hollywood, FL from MetLife Real Estate Investments, the holding company of Metropolitan Life Insurance Company, for $45.75 million, or about $180…

Wells Fargo Plaza Sold for $23.2M

IP Capital Partners LLC acquired the Wells Fargo Plaza office campus at 925 and 975 S. Federal Hwy in Boca Raton, FL for $23.16 million, or about $226 per square foot, from Real Estate Capital Partners.  Built in 1990 and 2000, the two-phase project includes a seven-story, 88,509-square-foot…

Condo Tower Called ‘The Vine’ Proposed on NE 4th & 35th

A condo tower called The Vine and designed by Idea Architecture, the same architects as the Crimson, has been proposed for a site at 404 NE 35th Street, reports The Next Miami. That’s at the northern end of Edgewater, about two blocks south of the onramp to the Julia Tuttle on 36th Street…

Auberge is Now Icon Biscayne, and Huge, Apparently

According to The Next Miami, Auberge, the very large project the Related Group has been planning at 1400 Biscayne Boulevard and even began promoting a little bit, has been renamed Icon Biscayne. The three tower project will have over 1,400 units, more parking space than Disneyland (approximately)…

What Makes 26 Edgewater Different?

“This project is focused on attracting local young professionals and families.”

Multifamily Investment in U.S. Hits Record High Over Last Year

According to research from CBRE, investment in U.S. multifamily reached $127 billion for the year ending Q2 2015 – the highest four-quarter total in history and growth of 36% over the 12-month period. The total surpasses the mid-2000s peak of $100 billion achieved in the year ending Q2 2006.  Investment in multifamily communities…

Why You Need to Know Stripey Development

GlobeSt.com’s Jennifer LeClaire caught up with Alejandro Goldemberg to learn more about Stripey and its latest development—26 Edgewater—in this interview.

Tenant Improvements Key to Attracting Tomorrow’s Millennial Workforce

According to a new report from JLL tracking national commercial construction trends, the Millennial generation is having a profound impact on the built environment under construction in 2015.  Throughout 2015, tenant improvement (‘TI’) – or the renovation of existing space – has been a bright spot in the construction industry…

Boca Raton Shopping Center Fetches $80 Million

The center is known for having one of the nation’s most high-traffic Whole Foods Markets on its tenant roster.

Miami Beach convention center hotel developer says project will bring more shoppers to Lincoln Road, less traffic

The Miami Beach Convention Center isn’t living up to its potential, says Jack Portman, vice chairman of the company developing the property’s headquarters hotel.  Its frequent events clog up roadways during the day, and to the disappointment of the city’s hoteliers, thousands of convention goers typically get back on the road to drive…

Terreno Realty buys Miami Industrial Trade Center for $17M

An affiliate of national industrial property investor Terreno Realty Corp. bought Miami Industrial Trade Center in Medley for $17.25 million.  The Realty Associates Fund VII, managed by Boston-based TA Realty, sold the 154,560-square-foot warehouse at 8455 N.W. 74th St. to Terreno MITC, an affiliate of San Francisco-based Terreno…

Miami site could be rezoned for 232 units and commercial space

A site on the north side of Miami could be rezoned into a mixed-use project with apartments and commercial space.  Five groups own a collective 2.27 acres at 460-540 N.E. 82nd Terrance and 421-505 N.E. 82nd St., which is just west of Biscayne Boulevard. It currently has small-scale apartment buildings and duplexes.

ADD Inc. And Lender Take Action Against River Landing Developer Over Unpaid Bills

River Landing is in foreclosure, and the developer owes millions to lenders and architects.  Architect ADD Inc. filed a lien late last month claiming that $1.1 million worth of architectural work remains unpaid, out of a total of about $3 million billed. ADD’s Jon Cardello signed the lien.  Last week, lender Eastwatch Holdings filed a foreclosure…

Skyrise Miami is close to a deal for a county grant

The Skyrise Miami development advanced as Miami-Dade County Mayor Carlos Gimenez disclosed that little negotiation is needed to reach agreement on the terms of a $9 million county grant for the mixed-use development, which would feature a 1,000-foot observation tower.

Miami poised to create transportation trust

It’s been talked about for months, and today (9/10) Miami city commissioners are to consider the first of two votes to create a transportation trust fund.  Sponsored by Commissioner Francis Suarez, the trust is proposed to help fund public transit and other transportation-related projects, with…

Related to pre-sell 3 Brickell towers as year begins

The Related Group aims to start pre-sales on One Brickell, its three-tower megaproject in the heart of Brickell, at the beginning of next year.  Despite a recent “notice of presumed hazard” sent to the development group by the Federal Aviation Administration regarding the project’s…

More Than 19,000 SF In Leases Closed At Merrill Industrial Center

Berger Commercial’s Judy Dolan negotiated the deals on behalf of the landlord.

 Inside the Frost Museum of Science’s Living Core, on Video

Now that the museum’s Coconut Grove home has closed, the Frost Museum of Science can focus its efforts on finishing the new Museum Park location, which at least a few Curbed commenters have pointed out the seemingly endless construction of. At least one of the…

Beach Convention Center Redo Breaking Ground in October

The massive renovations of the Miami Beach Convention Center, a project which was originally awarded to Mr. The King of Architecture Rem Koolhaas but then ripped out of his cold, cerebral Dutch hands and given to the same firm that did it last time, Arquitectonica, in 1989, will break ground in October…

National Commercial Real Estate News Roundup For Sept. 8, 2015

Big mergers, global buyers desire one-stop-shopping, industrial pricing may be at its peak, Wal-Mart shrinking, Apple’s fresh look, booming multi-family market — and more. It’s all here at the Commercial Real Estate National News Roundup for September…

First new Faena condo tower completed in Miami Beach

The first of four planned oceanfront condo towers in the much-anticipated Faena ultra-luxury project stretching from 3200 to 3500 Collins Avenue in Miami Beach has been completed since this South Florida real estate cycle began in 2011.

Wynwood Ops Lure Ex-Related Exec

Marc Coleman previously held senior management positions at Crescent Heights and Related Group of Florida. Find out why he moved to a new firm and is focusing on a new neighborhood.

Downtown Miami

TriStar and RFR seeks renovation of historic Lincoln Road building for retail

TriStar Capital and RFR Holdings will go before the Miami Beach Historic Preservation Board on Tuesday morning seeking permission to renovate and expand a building on Lincoln Road for retail.  A joint venture between the New York developers bought the 17,642-square-foot building at 800 Lincoln Road f or $88.2 million in 2014 from…

Spanish Billionaire Buys Stretch Of Miami Beach’s Lincoln Road For $370 Million

The price tag of about $7,700 per square foot of land represents the second largest real-estate deal in Miami-Dade County history.

Foreclosure Roundup: River Landing retail project in Miami in dispute with lender

Two major commercial foreclosure lawsuits were recently filed in Miami-Dade County, although a Broward County surgical center resolved its problems with its lender.  The River Landing retail project in Miami’s Health District hasn’t broke ground yet, and first it must resolve a foreclosure lawsuit.

Fort Lauderdale to consider condos at Hyatt Regency Pier Sixty-Six, new hotel

Fort Lauderdale officials will review two major development proposals on Tuesday, the addition of condos and office space to the Hyatt Regency Pier Sixty-Six and a dual-branded hotel downtown.  The city’s Design Review Committee will provide comment on both projects, but it’s up to the city council to determine their fate at a later time.

Sheridan Healthcare To Move HQ To 221,000 SF In Plantation

The new space will initially hold more than 1,000 Sheridan corporate employees.

Work has Already Started on that Huge New Nike Store Now Owned by the Founder of Zara

The big, three-level, Touzet Studio-designed Nike Store complete with rooftop basketball court coming to the corner of Lincoln Road and Lenox Avenue has already begun demo/construction, with fencing up and excavators and stuff scattered about. Meanwhile news just broke…

Craig Robins and Jackie Soffer, Two Very Different Miami Real Estate Giants, Just Got Married

Ending a courtship that began when Jackie sued Craig over a shared private jet, two very different giants of Miami real estate from very different real estate families, Craig Robins, developer of the super-high-design…

Study: EB-5 Challenges, Successes

Since 1990, the EB-5 visa program has been a tool for converting international capital flows into local economic development and employment, creating jobs in targeted areas and offering foreign investors visas for doing so. Funds from foreign investors are often channeled into capital for commercial…

Washington Avenue Revival in Miami Beach

Miami Beach city commissioners nodded favorably to an ordinance that could change the face of Washington Avenue. They would allow new height limits for most buildings  and adding parking spaces converted to temporary patios for outdoor dining.  This is designed to increase…

Investors love real estate funds – for now

Real estate investors are much happier with their returns than in past years but are also anxious over valuations, according to a new survey by research firm Preqin.  In the survey, conducted among investors in private…

BBX buys into Centra Falls in Pembroke Pines

The real estate division of Fort Lauderdale-based BBX Capital Corp. said it made a “minority investment” in Centra Falls, a townhome community development in Pembroke Pines, which Label & Co. is developing.  A grand opening of Centra…

Miami retail development trend near a peak

Retail development has surged in South Florida, but the trend may be near a peak in Miami-Dade County, according to a research report by Chicago-based commercial real estate firm JLL.  Retail space occupancy rates average 95.9 percent in Miami…

Investors flock to Flagler Street in downtown Miami

Moishe Mana recently paid $6.8 million for the Metro Beauty building at Flagler Street and Miami Avenue in downtown Miami .  The long-overlooked Flagler Street corridor in downtown Miami has become a money magnet as investors buy some of the city’s oldest…

Are Millennials Starting to Buy Single-Family Homes?

There’s no lack of discussion about Millennials and the housing market. Where do single-family homes fit in?…

World’s fourth-richest man Ortega buys Lincoln Road block with an Apple store for $370M

A company controlled by Amancio Ortega Gaona, the world’s fourth-wealthiest man, purchased a full block of South Beach’s Lincoln Road Mall – including space leased to Apple – for $370 million.  In three deeds, Ortega’s Playa Retail Investments purchased every property on the north side of Lincoln Road from Michigan Avenue to Lenox Avenue…

Mary Brickell Village shopping center sold for $113M

The Mary Brickell Village shopping center in Miami’s financial district was sold for $113.46 million to an affiliate of Rockpoint Group.  Brickell Main Street, an affiliate of Montreal-based Ivanhoe Cambridge, sold the property at 900 and 901 South Miami Avenue and 911 Southwest 1st Avenue to MB Village Owner, part of Dallas-based real…

Coconut Grove developer buys Wilton Manors property for $14M

Grass River Property and Downstream Realty Partners acquired a Wilton Manors apartment and retail property that could be ripe for redevelopment.  David Bukstel-managed 2727 Palm Gardens LLC sold the three parcels for $14 million to 2701 North Andrews Property Owner, an affiliate of the Coconut Grove-based developers.

Keyes Commercial Realty Office

Entire block of Lincoln Road sells for $370M to Spanish billionaire

In one of the largest real estate deals in Miami-Dade history, an entire block of Miami Beach’s Lincoln Road has traded hands for $370 million. And the buyer is the world’s fourth richest person, a Spanish fashion billionaire whose empire includes Zara, The Real Deal has learned. A partnership led by local commercial real estate…

Residents opposing Midtown Miami Walmart lose appeal

Walmart’s attempt to build a superstore in Midtown Miami may have inched a step closer to reality, after a judge denied an appeal from residents who oppose the giant retailer’s move into their neighborhood. Yet, the residents vow to further appeal the case to the Third District Court of Appeal. “The appeal is going to continue,” Grant Stern…

Mid-Miami Beach luxury condo gets green light

Marketing for the 4000 Alton Road luxury condominium project will soon commence, thanks to the approval of a series of design changes by a Miami Beach city board.  Those design changes, which were unanimously approved by the Miami Beach Design Review Board on Tuesday, included the approval of a three-foot height variance…

Langford Hotel aims to restore grandeur to downtown Miami

Developer Daniel Pena Giraldi walks through the Langford, pointing out 1920s-era molding, marble and design of the historic property he is converting into a boutique hotel in the heart of downtown Miami. Pena, principal of Miami-based Stambul, has led the restoration and construction of the 126-room hotel.

Construction for Russell Galbut’s 1212 Lincoln Road delayed

The timetable for the construction of a new retail complex in South Beach may be thrown off — by a Pilates studio. Eleven months ago, the Miami Beach Design Review Board approved plans by a subsidiary of Crescent Heights, a company headed by developer Russell Galbut, to build a 203,711-square-foot, five-story retail complex…

Brickell City Centre adds more office space

The developer of Brickell City Centre has placed a larger bet on the office market, as it has converted a planned wellness usage into “Class A” office.  In 2014, law firm Akerman LLP signed a lease to occupy 80 percent of the 130,000-square-foot Brickell City Centre Green tower that was under construction as part of the $1.05 billion…

Firm Brokers $10.83 Million Sale Of South Miami-Dade Class A Industrial Warehouse Property

The transaction represents one of the largest commercial real estate transactions in the South Miami-Dade County area this year.

Midtown Doral reveals its first retail tenants

Midtown Doral has announced the first two brands that will open in its 100-store retail component:  Capriccio’s Restaurant is the first eatery confirmed for the development at N.W. 107th Ave. in Doral. It will be the Italian restaurant’s third location. It sells salads, desserts, paninis, pastas, risotto and veal or salmon carpaccio.

Demo Time: Mekka Demolished for Paramount Miami Worldcenter Today

Mekka, the former meganightclub and last building remaining on the site of Paramount Miami Worldcenter, that condo tower that will have every possible amenity except the kitchen sink, (which it, ironically, will have hundreds of) was demolished today. According to the developer, it was a demo…

Comment of the day: “Anything that makes Dade Blvd more…

“Anything that makes Dade Blvd more pedestrian-friendly and knits together South Beach and Sunset Harbour will be good. They should REALLY tame that road to nowhere though. I hope all the construction they’ve been doing, and building the West Ave bridge, will help.”

Somebody Save Zaha!: Zaha Hadid’s Miami Beach Parking Garage is Dead

Two developers tried to save starchitect Zaha Hadid’s long-stalled Collins Park Garage for the City of Miami Beach, and the city basically said ‘thanks, but no thanks. That thing’s dead.’ (okay, we’re paraphrasing here, but it was close) Developers Seth Gadinsky and Glenn Boyer have offered…

Tri-Rail is Coming to Downtown Miami, Says the Big Cheese

“It’s going to happen” said Jack Stephens, the executive director of South Florida Regional Transit Authority, a.k.a. Tri-Rail, about the extension of Tri-Rail into Downtown Miami. They have most of the money promised to build their portion of the Downtown…

One Biscayne Tower Inks 100,000 SF in Leases

Law firm renewals and expansions. Those are the two factors driving office leasing activity at One Biscayne Tower these days….

Condo Above Biscayne Boulevard Church Approved, May Be Built In Phases

An attorney for developer Fifteen Group said yesterday that a retail and condo project above a historic church at 1836 Biscayne Blvd may be built in phases.  The developer won approval for both the project and historic designation of the property. Thanks to the historic designation, Fifteen Group can now sell Transferable Development Rights…

Miami Beach commission gives final OK for convention center hotel lease

The Miami Beach Commission gave Portman Holdings the final approval for the Miami Beach convention center hotel’s 99-year lease agreement on its second reading Wednesday.  The lease agreement with the city encompasses the parking lot behind the Fillmore Theater, which is adjacent to the convention center. The hotel would have…

Shops at Downtown Doral confirms more retail, restaurants

More brands have lined up for the Shops at Downtown Doral, the retail and restaurant component of Codina Partners and Lennar Commercial’s 120-acre Downtown Doral development.  The mixed-use project is expected to open with 70 brands across 180,000 square feet of retail and restaurant space, joined by 2,800 luxury…

Miami Design District building sold for $1,442 per square foot

Another property in the Miami Design District traded at a premium as a company led by Miami Beach investor Sam Herzberg paid $11.4 million for a 7,904-square-foot building.  Washington, D.C.-based 3800 NE 2 Ave LLC, headed by ABC Imaging CEO Mehdi Falsafi, sold the two-story building to Herzberg’s 3800 Design District LLC.

Spinnaker Cove apartments near Hialeah sold for $17M

The Spinnaker Cove affordable apartment complex near Hialeah sold for $17.1 million.  Affordable housing developer Stuart I. Meyers is a co-investor of both the buyer and seller.  Park View Estates, a Hollywood-based company affiliated with Cornerstone Group with Meyers and Jorge Lopez as managers, sold the 220-unit…

Brickell City Centre Rebrands Office Component, Adds 130,000 SF Office Tower

To enhance Miami’s dwindling Class A office inventory, the project has added a second mid-rise office tower.

Uniforms Direct Leases 53,000 SF at Tower 101

Uniforms Direct has leased 52,683 square feet for its corporate headquarters in the Tower 101 office building at 101 NE 3rd Ave. in Fort Lauderdale, FL.  The deal marks the largest office lease this year in the Downtown Fort Lauderdale submarket, according to JLL, which notes the downtown office…

Miamiana: What to Do With the Miami Science Museum’s Pan Am Globe?

With the impending move of the old Miami Science Museum into the brand new Frost Museum of Science, there are no plans yet to relocated the iconic and very historic Pan American Airlines Globe that is the highlight of the museum’s lobby and was once the centerpiece of Pan Am’s seaplane base on…

Courting Chinese real estate investors is a long term play, experts say

While the recent turmoil in the Chinese financial markets won’t deter Asian investors from buying real estate in the United States, the Miami market is still a couple of years away from seriously competing with…

Chetrit sells Hollywood apartments for $19M

A member of the Chetrit family just sold an apartment community in Hollywood for $19 million.  The Royal Park Townhomes, a rental complex with 69 units, was sold by Hollywood Park Partners LLC in a deed filed Friday. Corporate records show the company is managed…

Cooper City apartment community sells for $55M

A development partnership just sold the newly built Jefferson at Monterra apartment community in Cooper City for $55.7 million.  The community is part of Cooper City’s much larger Monterra housing development, which was built on 500 acres…

Miami Beach commission approves lease for convention center hotel

Miami Beach commissioners on Wednesday voted to approve a lease agreement and allocate future rent from a proposed convention center hotel to fund mass transit efforts on Miami Beach’s traffic clogged…

Future of transportation in Miami: panel

Activating dormant railroad lines, expanding Tri-Rail, making buses more efficient, encouraging the business community to lead.  These were just some of the ideas and programs that were tossed around during a panel discussion on the future of transportation in Miami on Wednesday…

Former INS building razed for mixed-use hotel, apartments

Development of a new mixed-use hotel, apartment and retail project — replacing the former U.S. Immigration Naturalization Service building on Biscayne Boulevard — is underway, ADD Inc. announced on Tuesday.  The Triton Center, at 7880 Biscayne Boulevard…

Mid-Miami Beach luxury condo gets green light

Marketing for the 4000 Alton Road luxury condominium project will soon commence, thanks to the approval of a series of design changes by a Miami Beach city board.  Those design changes, which were unanimously approved by the Miami Beach Design Review Board on…

Starwood Capital pays $82M for Miramar business parks

The Metropolitan Life Insurance Co. has sold two Miramar business parks for a whopping $82 million, according to Broward County records.  MetLife sold the two buildings, Miramar Center I and III, at 3401 and 3601 Southwest 160th Avenue, and two additional buildings…

Homestead Sees First Spec Industrial in Years

“We see the Miami industrial market ripe for new industrial and office space…”

Why Office Developers Are Eyeing Palm Beach

At 3.2 million square feet, Downtown West Palm Beach is the smallest of South Florida’s three central business districts. But it could see new office development first.

Stiles Promotes Jeff McDonough To Lead Multifamily Real Estate Division

Since joining Stiles in 2005, McDonough has been instrumental in several significant development projects and held roles of increasing responsibility.

Keyes Commercial Realty

American Dream Miami developer secures more land for mega mall

Triple Five Group has locked up an additional 24.6 acres in northwest Miami-Dade County, where it plans to build American Dream Miami, the largest mall and theme park in North America.  International Atlantic, an affiliate of the Edmonton, Alberta-based company, recently purchased a 15-acre site for $6.8 million from Rocoo…

Redevelopment of former immigration building into mixed-use center begins

The redevelop of the former U.S. Immigration Naturalization Service building in Miami into the mixed-use Triton Center has kicked off.  Florida Fullview Immigration Building, managed by Leo Wu, is building a 139-room hotel, 324 apartments, 17,000 square feet of retail and 576 parking spaces in the 12-story building at 7880 Biscayne…

All-Aboard Florida gets final downtown land

All Aboard Florida has closed on the final land it needs to redevelop six blocks of downtown, as nearly 100 workers continue to forge the foundation of a new train station that will bring passenger rail to Miami’s urban core.
All Aboard Florida just closed on 2 acres in Overtown, a move that…

Brickell City Centre makes towering change

Brickell City Centre announced Tuesday the rebranding of its office component to incorporate two Class A office buildings equaling 260,000 square feet, both of which will be ready by year’s end.  Although the project long has been known to include the two office buildings, the rebranding of its…

Wealthy Chinese targeting business in Miami

Twenty-two wealthy Chinese art collectors with ties to real estate have expressed interest in visiting Miami this year to explore the city’s business environment and investment opportunities.  Invited by Peng Lu, associate provost of international programs at Florida International University…

Cooper City’s Monterra apartments sold for $56M to Morguard

Morguard Corp. acquired the apartment community in Cooper City’s Monterra neighborhood for $55.7 million.  Jag-Star Monterra, part of McLean, Virginia-based Jefferson Apartment Group, sold the 252 apartments at 8101 to 8191 Solano Ave. to Morguard Monterra, an affiliate of the Kenner, Louisiana-based apartment investor.  The 281,510…

What Will Change After Bal Harbour Shops’ $400M Upgrade?

Stanley Whitman wasn’t afraid to break the rules. He knew just what he was doing when he created the Bal Harbour Shops nearly 50 years ago—although not everyone necessarily agreed with his approach at the time.  Trees in the parking lot? “No one does that. It breaks up the asphalt, takes up parking spaces, and makes the lot harder to clean.”

Court time nears for tennis stadium

Although a county committee ultimately recommended that the Aviation Department waive competitive bidding for proposed leases with three high-profile local entities at Miami International Airport, Commissioner Dennis Moss expressed frustration last week that a report he requested on the process was …

Mega-marina begins artificial reef

Flagstone Property Group’s work to build the area’s first deep water marina for super-yachts includes creation of an artificial reef.  Flagstone is developing a corner of city-owned Watson Island into a multi-million dollar resort called Island Gardens.  The developer said this week it has…

LNR Partners Trades 197,000 SF Retail to Miami-based Investor in REO Sale

The Shoppes at Jupiter, a 196,941-square-foot shopping center located at 201 N US Highway 1, sold for $27.8 million or approximately $141 per square foot. It closed as an REO transaction to an investment group called Orion Venture XI Jupiter, based in Miami.  Built in 1981, the 24-acre retail site…

Blasts from the Past: Miami’s Kitschy Little Science Museum Closed Last Week

The intimate, much loved, and kitschy little Miami Science Museum closed its doors over the weekend with a nostalgia-fueled party Friday night, after fifty five years of field trips, planetarium shows…

Aesthetic Pursuits: The Design District’s Obsession With Aesthetics Extends to New Black and White Street Signs

If neighborhoods were tech companies, the Design District might be Apple, because the attention to aesthetics is proving incredibly all-encompassing. According to the Next Miami, the developer of the high-end retail and design area Design District Associates, was granted…

FAA Rejects Plans For Tall Miami Towers. Now What?

Builders have the option of sitting down with federal bureaucrats to modify their plans and work out compromises or can engage in a technical process called “public circularization” to challenge the FAA’s judgment.

Fortune International, Chataeu win ruling against Sunny Isles Beach condo association

A Miami-Dade County judge ruled against a condominium association in Sunny Isles Beach in its lawsuit against developers Fortune International Group and Chateau Group, which control five units in the building.  The developers are building the 52-story Ritz-Carlton Residences, Sunny Isles Beach condo tower next door to…

Why Miami’s global impact should grow — not wane — as foreign currencies decline

During the height of the Great Recession, naysayers predicted that it would take about 20 years to absorb the glut of new construction in South Florida. For at least that long, they predicted, South Florida would wallow in economic misery, its nascent popularity as a premier global destination fading…

Aventura Mall to add Robert Graham store to luxury lineup

Global fashion retailer Robert Graham announced it will join Aventura Mall’s luxury lineup in November.  The New York-based apparel brand has promised to carry the complete Robert Graham collection, including men’s sportswear, premium denim, furnishings, accessories, outerwear, eyewear, footwear, jewelry…

FAA warns six Miami towers could be too tall, including Related Group projects

The FAA notified developers of six high-rise towers in Miami in August that their proposed projects could be too tall, including two condo buildings by the Related Group.  The “notice of presumed hazard” letters are interim warnings and not final rulings. They’re based on the FAA’s initial findings that the towers could obstruct or have…

Fifteen Group Revises Plan For 38-Story Tower Above Historic Church, Wants To Sell TDRs

Developer Fifteen Group has submitted revised plans for a project at 1836 Biscayne to make it more appealing to preservation officials, as well as make the project more economically viable.  Plans call for a 38-story tower with 352 residential units and 637 parking spaces above the historic First Church of Christ at 1836 Biscayne Boulevard.

Retail/office building proposed in west Miami-Dade

A developer filed plans for a retail and office project west of Sweetwater in Miami-Dade County.  Coral Gables-based Flightway Eleven submitted the application to the county on Aug. 26 for a 62,906-square-foot building. The first floor would have 14 retail bays and the second floor would have 14 office bays.  It would be located on the…

5 reasons retail development is loving Florida

In case you hadn’t noticed, the Sunshine State is in the midst of a love affair with the retail real estate market.  That’s according to a new retail report unveiled on Aug. 31 by JLL President of Retail Brokerage Naveen Jaggi during the International Council of Shopping Centers (ICSC) Florida Conference at the Orange County Convention Center.

Real estate investment firm IMC rebrands, reaches 9 million square feet

IMC Property Management, one of the most active real estate investors in South Florida, has rebranded as IMC Equity Group.  The North Miami-based company owns about 9 million square feet of property, with about 650,000 square feet acquired for $88.5 million so far in 2015, according to IMC director of acquisitions and finance…

Fill-er-up: Another South Beach Gas Station Makes Way for Development

Following the disappearance of the gas station at 17th street and Alton Road under a pile of rubble and construction stuff, the Chevron station at 1800 Alton Road has now been sold according to The Real Deal and will be redevelopment into prime retail on the edge of Sunset…

New Multi-Tower Megaproject Coming to Hallandale Beach

Take a second to wrap your head around the major, mixed-use development (ironically?) named Oasis and planned for Hallandale Beach, just north of Gulfstream Park. As South Florida Business Journal reports, the project is being designed by Bermello Ajamil & Partners, and will include hotel…

National Commercial Real Estate News Roundup For August 31, 2015

Baby boomers and millennials have more in common than we thought, office construction surges in largest commercial market, medical offices in residential centers are very desirable, retail and multifamily rentals are getting harder to find — and more. It’s…

Downtown Fort Lauderdale’s largest office lease inked

Tower 101 at 101 Northeast 3rd Avenue in Fort Lauderdale and JLL’s Brady Titcomb and Alice Lucia Jackson
Downtown Fort Lauderdale is about to get a new outfit.  Uniforms Direct has agreed to move its corporate headquarters to Tower 101, marking the largest office lease in the city’s cent…

Joint venture mortgages Coral Springs retail center for $22M

Six months after a joint venture acquired the Royal University Plaza in Coral Springs, the group has mortgaged its new shopping plaza for $22 million.  The plaza is a 10-acre development with 98,500 square feet of leasable space, located at…

On the scene photos at ULI’s Vision Awards

The Urban Land Institute’s Southeast Florida/Caribbean District held its Vision Awards dinner last Wednesday evening at the JW Marriott Marquis Miami. More than 650 people were in attendance.  During the…

Firm Secures Largest Downtown Fort Lauderdale Office Lease Of 2015

JLL’s Alice Lucia Jackson and Brady Titcomb completed the 52,683-square-foot headquarters lease transaction.

SunTrust Center Wins New-to-Market Tenants

“Crocker’s capital investment in the SunTrust International Center has proven effective.”

FAA Rejects Plans For Tall Miami Towers

Two Related projects and one being developed by Florida East Coast Realty were “presumed to be a hazard to air navigation.”