Simon Property Group sells Shops at Sunset Place in South Miami for $110 million
Simon Property Group sold the Shops at Sunset Place open-air mall in South Miami for $110.2 million to a joint venture between Federal Realty Investment Trust and two local partners. The Rockville, Maryland-based company (NYSE: FRT) now owns 85 percent of the 515,000-square-foot center with the remaining interest owned by…
One Flagler commercial condos in downtown Miami sell for $10.1M
A company led by Canadian investor Danny Lavy bought two floors of retail and office condos in downtown Miami’s One Flagler building for $10.1 million. Designed by renown architect Morris Lapidus, the 15-story office building at 14 N.E. First Ave. was converted into condos in 2014 after receiving $10 million in upgrades. The deal was a joint…
Ponte Gadea Group Pays $370 million for Miami Beach Retail Asset
Local investors Jonathan Fryd and Michael Comras sold a 1.1-acre contiguous retail block at 1001-1045 Lincoln Rd. in Miami Beach, FL to Ponte Gadea Group for $370 million, or about $4.9 million per square foot. The portfolio totals 74,537 square feet of flagship retail space in the famed Lincoln…
High rent squeezes out another retailer on Lincoln Road, Steve Madden moves in
Global chain footwear retailer Steve Madden will officially take over its newest Lincoln Road lease on Oct. 1 after high rent and a legal battle forced its previous tenant out. Mini Mall Gallery, an eyewear retailer that was at 433 Lincoln Road in Miami Beach for more than 12 years, was evicted from its long-time space on Sept. 20. Its lease…
Developer terminates original plans for Six Midtown Miami
In the same week that a new condo tower launched construction in the Midtown Miami neighborhood of Miami, plans for another project that was to be located a few blocks away on the same street within the mixed-use complex, have been “terminated” — possibly to revise the original design. On Friday, the Related Group and Dezer…
Final Plans for Lincoln Road Redesign Unveiled Today
Miami Beach’s Lincoln Road has undergone a lot of changes in its relatively short history. Originally envisioned by Carl Fisher as an automobile-friendly “Fifth Avenue of the South,” the strip was converted into America’s second pedestrian mall in the ’50s under the eye of famed Miami architect Morris Lapidus. By the late ’70s, the place…
Cambridge Innovation Center could become anchor tenant at UM Life Science & Technology Park
The owner of the University of Miami Life Science & Technology Park hopes to sign the Cambridge Innovation Center as an anchor tenant in a deal that would land of the nation’s most high profile co-working spaces for entrepreneurs and non-profits. CIC has over 2,500 people at its co-working space in the Boston area with…
$47M Construction Loan Arranged for Local Developer
Avison Young arranged a $46.7 million construction loan for INTown, an $81 million, 14-story, two-tower, mixed-use project proposed in the Little Havana section of Miami, FL. David Eyzenberg and Amanda Saltzman with Avison Young arranged the loan on behalf of the delevoper, Astor Companies.
Plantation Marketplace Sold for $32.9M
DRA Advisors LLC sold The Plantation Marketplace shopping center at 7007-7181 W. Broward Blvd. for $32.88 million, or approximately $146 per square foot, to a local investor. The 225,066-square-foot shopping center was built in 1979 on 17.8 acres. The center is anchored by Winn Dixie and is home…
Espirito Santo Plaza Trades for $142M
Estoril Incorporated sold the Espirito Santo Plaza office building at 1395 Brickell Ave. in Miami, FL to Dallas-based Gaedeke Group LLC for $142 million, or about $546 per square foot. The 36-story, 260,000-square-foot, 5-Star building was constructed in 2004 in the heart of Brickell. The asset…
Four Major Renewals Signed at One Biscayne Tower
Four tenants have renewed their leases at One Biscayne Tower, the 39-story, 691,783-square-foot office tower at 2 S. biscayne Blvd. in Miami, FL. The four leases total 66,200 square feet and are valued at more than $42 million. In the largest transaction this month, Broad & Cassel Attorneys…
Redos: 70s-Era Office Building in Downtown Miami Gets Mod Redo
A few years ago, rooftop construction was spotted at a 1970s era Downtown office building, the SunTrust International Center. Work has since completed, and it turns out this was part of a $35 million renovation which the building has just unveiled, with updated interiors and common areas and…
Swire Considering Tower on Brickell Key Park Site
Brickell Key Park is not a real park. Well, in that it has greenery, and fields, and is publicly accessible, okay yes it is, but the park on the southern tip of Brickell Key has always actually just been a privately-owned placeholder; something that Swire Properties used to…
Fish Market & Restaraunts Coming to the Miami River
A collection of two-to-three story restaurants and a fish market are coming to a stretch of the Miami River fronting a currently-under-construction self storage and restaurant building called the East Coast Building, according to the developer of both, MV Real Estate…
Why Coworking is Such a Big CRE Hit
“From a design perspective, coworking spaces have also paralleled what’s trending on the residential side of the business.”
170,000 SF In Leases, 160,000 SF In Land Sales Inked by Firm During 3Q15
John Dohm, Ted Konigsberg and Jeremy Bedzow negotiated the deals.
90,000 SF Office / Warehouse Trades In $17.8 Million Deal
The property sold in 2011 for $10.9 million.