Amazon to Anchor 1 MSF Wynwood Plaza Mixed-Use Development
Amazon (NASDAQ: AMZN) has signed on to anchor Wynwood Plaza, a 1 million-square-foot mixed-use campus nearing completion in Miami’s Wynwood Arts District. The Seattle-based e-commerce giant will occupy 50,333 square feet within the development’s 12-story office tower that is set to deliver in the coming months. The landlords in the lease transaction are New York…
The 12-story Wynwood Plaza office tower is set to come online in the next months. Image by Gensler, courtesy of L&L Holding Co. In the largest office lease ever recorded in Miami’s Wynwood submarket, Amazon agreed to occupy 50,333 square feet at Wynwood Plaza, a 1 million-square-foot mixed-use development. L&L Holding Co. and Oak Row Equities are the owners.
Amazon Signs Largest Office Lease in Wynwood’s History at Wynwood Plaza
Amazon has signed a 50,333-square-foot lease at Wynwood Plaza, marking the largest office lease ever recorded in Miami’s Wynwood submarket. Developed by L&L Holding Company, Oak Row Equities, and partners Shorenstein Investment Advisers and Claure Group, the mixed-use campus at 95 NW 29th Street features a 12-story, Class AAA office tower with 266,000 sf…
Amazon Signs Record-Breaking Lease in Miami’s Wynwood Plaza
Miami’s Wynwood Plaza is getting a big name, as Amazon has struck a deal to form a 50,333-square-foot office space. That marks the largest office space ever signed in Wynwood, according to a statement by L&L Holding Company and Oak Row Equities, which struck the agreement with the tech giant. Project partner Shorenstein Investment Advisers…
Amazon leases 50,300-square-foot office at Oak Row, L&L’s Wynwood Plaza project
Amazon will open an office in Miami’s Wynwood, giving a boost to the neighborhood’s push to attract tech firms and become “Silicon Valley of the South.” The Seattle-based company, founded by billionaire Jeff Bezos, leased 50,300 square feet at the Wynwood Plaza mixed-use project under development by Oak Row… Wynwood Plaza, at 95 Northwest 29th Street, is…
Miami Industrial Market Starts 2025 Facing Record Deliveries, Soft Absorption
Miami’s industrial market encountered significant challenges as 2024 closed, navigating a surge of new supply and rising vacancy rates. But the peak could be nigh. An unprecedented 5.6M SF of industrial space delivered in Miami-Dade County in 2024, according to a fourth-quarter CBRE report. The influx of new space coincided with a rise in vacancy rates…
The Delmore Launches In Surfside, With Swimming Pool Suspended In Air
Dubai-based developer DAMAC has launched The Delmore in Surfside. The ultra-luxury residential building is being built on the former Champlain Tower usite. Zaha Hadid Architects is designing the 12-story building with a flow-through canyon and a GFRC exterior façade designed to look and feel like the sand on the beach behind the building…
Damac Unveils Plans For $15M ‘Mansions In The Sky’ On Surfside Collapse Site
Dubai-based Damac Properties has launched sales at The Delmore, its luxury condo development set to rise on the site where the Champlain Towers South collapsed, killing 98 people. The developer’s international arm, Damac International, has started construction on the project, where the 37 units, referred to as “mansions in the sky,” will range between 7K SF and 10K SF…
Damac reveals Delmore luxury condo project on site of deadly Surfside collapse
Dubai developer Damac Properties is launching sales for the luxury condo project it plans to build on the site of the deadly Surfside condo collapse. The 12-story, 37-unit development is called the Delmore. Zaha Hadid Architects is designing the oceanfront building at 8777 Collins Avenue. The tragedy killed 98 people when Champlain Towers South collapsed overnight…
Related and 13th Floor team up on $97M acquisition of Aventura apartment complex
Related Group and 13th Floor Investments joined forces to buy a waterfront Aventura apartment complex, The Real Deal has learned. The Coconut Grove-based firms paid $96.5 million for Arium Lincoln Pointe, a 285-unit property at 17900 Northeast 31st Court, a source familiar with the deal told TRD. Related, led by Jorge Pérez and his sons, Jon Paul…
Architect: Miami Freedom Park ‘A Vision For Future Of Urban Living’
The under-construction Miami Freedom Park is “a vision for the future of urban living,” according to master-planner Arquitectonica. The company is overseeing the 130-acre development, which is being built on a former public golf course. “The master plan integrates green spaces, vibrant public amenities, and cutting-edge design, creating a community hub that will serve…
Miami UDRB Approves 45-Story First and Fifth Tower with Perfect Transit Score
Miami’s Urban Development Review Board voted this month to unanimously approve Downtown Miami’s First and Fifth tower. The location for First & Fifth features a rare perfect transit score of 100. MiamiCentral with Brightline, Metrorail, Tri-Rail, and the Metromover, is directly across the street. Developer Oak Row Equities said in a statement that transit-oriented…
Top Brickell offices near $100 per square foot
Top tier office space rents in the Brickell area are approaching $100 a square foot on average, two new brokerage reports show. Those rates are almost double the average office space rental rates for the county as a whole. “Class A Brickell rates continue to rise, increasing by 5.7% year over year to $101.76 per square foot,” the fourth quarter office report from CBRE said.
$8.4M Sale Negotiated of Retail Strip Center Blue Grotto Plaza in Miami
Marcus & Millichap has negotiated the $8.4 million sale of Blue Grotto Plaza, an 11,890-square-foot retail strip center located in Miami. Built in 1973 and renovated in 2023, the multi-tenant property features a mix of service-oriented businesses and food-and-beverage tenants, including 10 retail spaces and 68 parking spaces. Jonathan De La Rosa and Matthew…
Plans for ‘Legacy Park’ Revised a Third Time, Slated for 13850 SW 248th Street in Homestead
Miami-based 248th Street Properties LLC has revised plans for Legacy Park, a project Florida YIMBY covered in last year’s fourth quarter. In 2019, two years after the site’s acquisition, the developer intended to proceed with 144 apartments. Yet, after the passing of Rapid Transit Zone rules that allowed for higher residential density, it revised plans and increased the number…
UHealth leases wing of Downtown Doral retail expansion
The University of Miami Health System has leased an entire wing of Downtown Doral’s upcoming retail expansion. Located at Northwest 87th Avenue and Northwest 53rd Terrace, which was recently designated UHealth Way, UHealth will occupy an 11,243-square-foot space, which will include comprehensive eye care from Bascom Palmer Eye Institute and physical therapy…
UHealth Signs 11,243 SF Retail Lease at Downtown Doral
Codina Partners has announced that the University of Miami health system (UHealth) will occupy an 11,243-square-foot wing at Downtown Doral, a 250-acre mixed-use community in metro Miami. The tenant is part of the property’s 25,000-square-foot retail expansion, which is located at the intersection of N.W. 87th Avenue and N.W. 53rd Terrace and will include 929 parking garage…
Lease roundup: UHealth will anchor Downtown Doral expansion, Charleston BBQ opening in Little River
The University of Miami Health System will expand its medical care outposts to Downtown Doral. UHealth leased 11,200 square feet at the intersection of Northwest 87th Avenue and Northwest 53rd Terrace in Doral, according to the landlord’s news release. The health care outpost will offer eye care by Bascom Palmer Eye Institute and physical therapy, including pelvic floor…
Can Miami Executive Airport become spaceport?
Florida legislators will be asked to designate land at and near Miami Executive Airport in West Kendall as a spaceport territory, which could create economic benefits including tax incentives for aerospace-related businesses in the area. County commissioners voted 10-2 to seek the designation two days after President Donald Trump promised to send spacecraft and astronauts to Mars.
Gabriel Navarro: His MMG Equity is growing commercial realty, ski resort
After spending over 20 years leading Navarro Discount Pharmacies, Gabriel Navarro is continuing his family’s legacy of entrepreneurship with MMG Equity Partners. Now, as managing partner and CEO of MMG Equity Partners, a family-owned commercial real estate firm, Mr. Navarro has helped grow its portfolio to nearly 2 million square feet of retail space, much of it in shopping…
‘Indications Many More Will Follow’ After Amazon Leases Wynwood Offices
The developers building the Wynwood Plaza campus announced that Amazon has agreed to Wynwood’s largest office lease ever. The lease announcement comes a little over a year after Amazon founder Jeff Bezos announced he was moving to Miami. Amazon’s new lease is for 50,333 square feet of office space. “We are extremely excited to welcome Amazon to Wynwood Plaza…
39-Story ‘The Brickell Starlite’ Planned for 128 Southwest 7th Street in Miami
Florida YIMBY has an update on the 39-story venture proposed for the former site of the Starlite Motel in Miami-Dade County. The Brickell Starlite has received the greenlight from county officials, allowing developers to move forward with a 697,913-square-foot tower, which will feature 517 Class A housing units. Homes will range from studio to three-bedroom floorplans…
Related Companies To Partner On Citadel HQ
Citadel has announced that it will partner with Related Companies on a tower it is building in Brickell, according to Bloomberg. According to plans filed last year, the 55-story tower would reach a supertall height of 1,046 feet above ground, or 1,049 feet above sea level. It would include mostly office, along with hotel and retail, and a public baywalk. Foster + Partners is the architect.
Ken Griffin taps Related Cos. to co-develop Citadel’s new $1B-plus Miami HQ
Ken Griffin is bringing in the heavy guns, partnering with Related Companies to build Citadel’s new $1 billion-plus Miami headquarters on the bay. Spokespersons for both firms confirmed to The Real Deal that New York-based Related, led by CEO Jeff Blau and President Bruce Beal Jr., will co-develop the planned 54-story mixed-use tower on a bayfront site at 1201 Brickell Bay Drive.
One Brickell City Centre Site Listed For Sale
Swire Properties has hired a broker to sell the One Brickell City Centre site, according to Bloomberg. Swire president Henry Bott told the news agency that preleasing had not materialized for the massive office tower in the way that had been hoped. One Brickell City Centre had been planed to rise 68 stories, or 977 feet, putting it just below supertall height.
Swire nixes plan for office supertall in Brickell, citing “challenging” market and slow preleasing
Swire nixed its plan for an office supertall in Brickell, amid questions over the long-term viability of South Florida’s office market. The real estate arm of the Hong Kong-based firm won’t develop the roughly 1,000-foot-tall One Brickell City Centre, instead hiring CBRE to put the site at 700 Brickell Avenue and 799 Brickell Plaza in Miami on the market, Bloomberg reported.
400+ Residential Units Planned On Alton Road In South Beach
There are at least 400 residential units planned in four developments on Alton Road in South Beach, according to the SFBJ. The developments would be built under Florida’s Live Local Act, the report said. The buildings would rise 31, 27, 18 and 16 stories in height. They would each include parking, with a combined 364 spaces. There would also be a small amount…
At the 293-unit Elevate in Dania Beach, about 100 apartments remain vacant six months after the project was completed. To entice renters, the property manager is offering two and a half months of free rent and up to a $500 move-in credit, the property’s website shows. “We are getting some of those extra leases because of some of the extra concessions,” said Dan Kodsi…
Wynwood’s Joule House Pre-Leasing 308 Apartments, Opening In Spring
Pre-leasing is now underway for 308 luxury apartment homes at Wynwood’s Joule House. Opening of the multifamily development is scheduled for spring 2025, the developer said last week. The 8-story building is being developed by Fisher Brothers, a fourth-generation real estate company that owns, manages and operates unique spaces across the country. Apartments range…
Pre-Leasing Commences and Murals Revealed at Joule House in Wynwood
Pre-leasing has officially commenced for Joule House, an eight-story, mixed-use residential development at 2200 NW 1st Avenue in Wynwood. Developed by Fisher Brothers, the project will feature 308 residences designed to reflect the energy and creativity of Miami’s most eclectic neighborhood. First move-ins are expected by Spring 2025….
Miami-Based Developer Proposes ‘Azul at Blue Lagoon’ for 1200 NW 57th Avenue in Miami
Miami-based Keystone Holdings Group wants to move forward with a workforce housing development just blocks away from Miami International Airport (MIA). Under the developer’s current proposal, Azul at Blue Lagoon would comprise 284 apartments in a 16-story building, with at least 114 workforce housing units. According to Floridian Development…
Former El Portal Trailer Park Site Sold to WeWork Founder’s Miami Company for $70.5M
Back in 2015, residents of the Little Farm Trailer Park in El Portal learned that their tight-knit community had been sold from beneath them. Owners of the park swiftly ousted residents from the 16-acre low-income community situated just off Biscayne Boulevard, leaving many of them homeless. The owners demolished the park soon after. It was one of Miami’s most sweeping…
A developer proposes a 284-unit Live Local Act project near Miami International Airport, marking a continued flurry of applications under the state’s affordable housing law. Miami-based Keystone Holdings Group proposes the 16-story Azul at Blue Lagoon building at 1200 Northwest 57th Avenue in unincorporated Miami-Dade County, according to Keystone’s application…
The Perigon Miami Beach Secures $390M Financing as Construction Advances
Following the commencement of construction this past spring, The Perigon Miami Beach, a joint venture between Mast Capital and an affiliate of Starwood Capital Group, has announced the successful closing of $390 million in construction financing. This significant milestone marks a pivotal step forward in delivering what is set to become an architectural landmark…
TransMontaigne under contract to sell Fisher Island terminal and fuel depot for $180M
TransMontaigne Partners is under contract to sell a potential Fisher Island development site for $180 million, but the mystery buyer will have to deal with environmental cleanup. The Denver-based energy and fossil fuels storage company entered into a sales agreement for its 9.6-acre fuel depot at 1 Fisher Island Drive, a press release states. TransMontaigne, led by CEO Randy Maffett…
The affordable housing branch of the Related Group hopes to move forward with an expansion of a 1970s multi-family development in Miami-Dade County. The developer has filed a pre-application seeking approval for six buildings offering residences, commercial space, and parking. The proposal concerns the Haley Sofge Towers, a public housing site in Little Havana.
The Pérez family’s Related Group wants to supersize a Little Havana public housing complex with a 1,038-unit Live Local Act development, as the firm ramps up its pipeline under the state’s affordable housing law. Related Urban Development Group, the affordable housing arm of Coconut Grove-based Related, wants to build a pair of 21-story towers and a 12-story building…
Related Turns To Live Local To Boost Size Of Little Havana Apartment Project
Related Group’s affordable housing arm has proposed an expansion of more than 1,000 units at the Haley Sofge Towers in Miami’s Little Havana neighborhood using Florida’s Live Local Act. Miami-based Related Urban Development Group is seeking to maximize the potential of an existing 22-acre site with an additional 1,038 apartment units, more than 22K SF…
Outside Miami’s Brickell neighborhood and downtown West Palm Beach, office landlords in South Florida faced troubling trends in the fourth quarter of last year. Older office buildings sold at discounts from previous sale prices, while some property owners faced foreclosure. While average asking rents and vacancy rates in Miami-Dade, Broward…
Château, Fortune score site plan changes for St. Regis Sunny Isles
Château Group and Fortune International Group secured changes to their site plan for St. Regis Residences, Sunny Isles Beach. Sunny Isles commissioners last week approved the tweaks, which reduce the density and increase the floor area ratio, or overall project size, to allow for fewer but larger condos. Manuel Grosskopf, CEO of Hallandale Beach-based Château…
Focus and Group Fox have received site plan approval for Brickell Starlite, a 39-story multifamily tower located in Miami’s Brickell financial district. Focus is a development and construction firm, and Group Fox is a property asset management firm, and both companies are headquartered in Chicago. Set for completion in 2028, Brickell Starlite will comprise 517 apartments…
The Haccoun family’s Monceau Real Estate proposes a 120-unit apartment project in Naranja and a 252-unit development in Goulds, as the firm ramps up its Live Local Act pipeline in south Miami-Dade County. Bay Harbor Islands-based Monceau wants to build a four-story building on a 2.9-acre site at 26710 Southwest 144th Avenue and an adjacent lot in Naranja…
SHVO has announced key construction milestones and the general contractor selection for The Raleigh, an ultra-luxury development in Miami Beach. Situated at 1775 Collins Avenue, the three-acre estate will include a 17-story residential tower designed by Peter Marino, a 60-room Rosewood hotel integrated within the historic Raleigh, Richmond, and South Seas Art Deco…
With Clock Ticking, Shvo Looks To Recapitalize Miami Beach Redevelopment
Shvo is attempting to push forward on its redevelopment of The Raleigh hotel in Miami Beach. The developer announced a new future for the historic property in 2022, partnering with luxury hotel brand Rosewood Hotels & Resorts and renowned architect Peter Marino. However, two years later, speculation over the project’s progress swirled as several of the company’s…
Multifamily, luxury homebuilding headed for a slowdown in 2025: CCIM panel
South Florida can expect a slowdown in multifamily and luxury home development in the year ahead, according to a panel of builders. Last week, The Calta Group President Gaetano Caltagirone, Prospera Real Estate Collective CEO Ellen Buckley and The Estate Companies principal Jeffrey Ardizon participated in the main discussion at the 2025 CCIM Miami…
MAS AJP proposes 293 row houses at the Mandarin Park mixed-use complex in Naranja, as developers continue to target south Miami-Dade County with new project plans. The Coral Gables-based firm wants to build a three-story row house complex with 132 homes and a separate two-story row house complex with 161 homes on a 27-acre site on the northeast corner…
TA Realty bought a 300-unit apartment complex in Pembroke Pines for $118 million, as South Florida experiences an uptick in multifamily investment sales. The Boston-based firm bought the Bell Pembroke Pines complex at 16700 Sheridan Street from Greensboro, North Carolina-based Bell Partners, according to records and real estate database Vizzda.
IMC Equity advances mixed-use project with 233 apartments at Lauderhill Mall
IMC Equity Group advanced plans to develop a three-building, mid-rise complex with 233 apartments on the south side of the Lauderhill Mall. IMC Equity, led by President and CEO Yoram Izhak, successfully proposed a special-use exception to the mall’s commercial zoning designation to allow multifamily residential development on the south side of the mall.
Refined Design Unveiled for 3000 Waterside in Fort Lauderdale
Claridge Homes has revealed a reimagined design for 3000 Waterside, an 18-story waterfront tower along the Intracoastal Waterway in Fort Lauderdale. Planned at 3000 East Oakland Park Boulevard, the project will introduce 129 luxury residences with expansive terraces and panoramic views of the Intracoastal, Atlantic Ocean, and Fort Lauderdale skyline…
Kite Realty Group is the latest retail landlord hungry for a Publix-anchored shopping center, buying a West Palm Beach site for $68 million. An affiliate of Indianapolis-based Kite, led by CEO John Kite, acquired Village Commons Shopping Center at 831 Village Boulevard, records and real estate database Vizzda show. The deal breaks down to $394 a square foot…
Regulatory Developments Related to Managing the Financial Risks of Climate Change – Q4 2024
IntroductionRegulatory OverviewNew Requirements and Resources for Addressing Physical Risks to BuildingsAn Insurance Industry in the SpotlightContinued Gradual Progress on Integration of Climate Risk into Regulatory SupervisionGlobal Progress Toward Consistent Climate Risk Disclosure Introduction Despite the change in 2025 to a U.S. administration less focused…
Rising in Popularity: A Commercial Property Assessed Clean Energy (C-PACE) Primer
The average year over year growth of Commercial Property Assessed Clean Energy (C-PACE) loan volume over the past five years has been 50%. This alternative financing mechanism gained popularity during COVID and the following two years of high interest rates, when developers sought alternative source of capital. The Commercial Real Estate Finance Council…
The Future Is Mixed Use: How Principles of Mixed Use Design Will Restore Our Communities
The real estate industry is in a time of great uncertainty with volatile inflation and interest rates, rising construction costs, major geopolitical events, and social and economic futures that feel unpredictable. Similar to how the past several years created opportunities to fundamentally rethink how we live, work, and interact with our communities and the built environment…
Apartment Occupancy Nationally Returns to Historically Normal Levels at End of 2024
Despite suffering a dip recently, apartment occupancy ended 2024 closer to historically normal levels. The U.S. apartment market delivered a record volume of apartment supply in 2024. This influx of deliveries pushed occupancy down to a recent low of 94.1% in early 2024. However, demand also rebounded significantly during the year, and caught up to record supply…
Moody’s Update: Population Shifts Shape Housing Demand
In 2024, the multifamily housing market experienced substantial inventory growth, adding nearly 300,000 units in 79 major metros tracked by Moody’s, representing one of the highest construction booms on record. This expansion led to slight imbalance between supply and demand, raising the national vacancy rate by 10 basis points each quarter throughout the second…
Small Bays Warehouses Are Becoming Big-Time Targets
Small bay warehouses are often viewed as one of the less important segments of industrial real estate. But that view is changing as demand for small space storage remains high while supply is limited and the high cost of replacement keeps rising, according to Alex Redfearn, CEO of Redfearn Capital, a private equity CRE firm in Delray Beach, FL. What is a small bay?