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…

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.