Plans unveiled for $1B “Innovation District” in Little Haiti called Magic City
Sitting on 15 acres in Little Haiti Private developers have plans for a 15-acre “Innovation District” called Magic City in Little Haiti, a collaboration between investment firm Dragon Global and commercial real estate brokerage/developer Metro 1, per the Wall Street Journal. The goal is…
Expansion of Cruise Terminal F breaks ground today at PortMiami
The $37.5M project is expected to boost revenue by $3.5M A $37.5 million expansion of PortMiami’s Cruise Terminal F breaks ground today with Munilla Construction Management holding a kick-off ceremony later this morning. The project’s initial phase features the reconfiguration and renovation…
Ubran Land Institute Panel: Miami developers predict luxury market slowdown to continue in 2017
From left: Jorge Perez, Ziel Feldman, Eliot Spitzer, Moishe Mana and Inigo Ardid. Two weeks after the glitzy opening for his company’s latest high-end project, the SLS Brickell Hotel & Residences, Miami condo king Jorge Perez signaled a shift away from building luxury towers locally during…
A Speculative Analysis of the Purchase of Plaza 8 Shopping Center at 9600 SW 8th Street
NOI Speculation: Costar reports that The Plaza 8 shopping center, located at 9600 SW 8th Street, Miami, FL, 33174, sold for $$11,186,604. Our data, sourced from Miami-Dade, shows this property as 56,493 adjusted square feet on a 106,350 square feet lot, while Costar indicates…
Why Are Developers Still Pouring Billions Into Waterlogged Miami?
On Sunday, an ebullient procession of artists, performers, and city residents filled Collins Avenue between Miami Beach’s 32nd and 36th streets to inaugurate the Faena Forum, a 43,000–square-foot, $150 million, performing- and visual-arts space that’s the cultural centerpiece of the Faena District, a $1 billion development comprising luxury hotels, restaurants, and real estate. The complex is the brainchild of Alan Faena, an Argentinian fashion…
3 Chefs and a Chicken inks $16 million lease, to replace Wendy’s in Coral Gables
Miami-based 3 Chefs and a Chicken is growing, and will replace a Wendy’s in Coral Gables in a deal valued at more than $16 million. The restaurant closed on the 20-year ground lease for the roughly 4,000-square-foot building at 6601 Southwest 57th Avenue earlier this month. A group of investors led by Sergio Delgado and Ramon Mendez paid $9 million for the 38,205-square-foot site…
Porsche tower begins closing units as Dezer eyes another car-elevator project
Gil Dezer’s Porsche Design Tower has finally begun turning over its units to buyers after more than three years of construction, with its current tally of sales resting at $760 million. But Dezer, who as recently as October said Dezer Development wasn’t planning on launching a new project in the near future, is already eyeing his next car-branded condo tower. He told The Real Deal that within the next six months, he plans on announcing plans for another luxury tower with a car elevator…
Video: Multifamily Market Trends and Forecast ~ Rent Increases and Property Management
Steven DeFrancis with Courtland Partners, a multifamily apartment property investor, Benno Rotschild with Hartman Simons, Jamie Teabo, a board member of the Atlanta Apartment Association and Post Properties’ (a company with multifamily properties in Florida, Georgia, Texas, and the District…
Eliot Spitzer, Jorge Perez, Moishe Mana, Ugo Columbo Participate in ELI Panel
As everybody tries to read the tea leaves about the Miami condo and investment market, the lineup at a November 30 Urban Land Institute panel should be able to give some answers. A lot of the speakers are familiar to those following trends in South Florida, starting with Jorge Perez, founder, chairman and CEO of Related Group, who was on the cover of the first issue of SFBW two years ago, and Moishe Mana, president of The Mana Group, who has been gobbling up property…
Industrial Lease Negotiated for Kintetsu World Express USA, Inc. In Doral
A member of the large Japanese conglomerate, the Kintetsu group, KWE USA has been a key player in the global transportation and freight forwarding industry since 1948.
Brickell City Centre construction manager accuses swimming pools installer of shoddy job
With the first phase of Brickell City Centre nearly complete, trouble is brewing among some of the firms involved in the project’s construction. Americaribe-Moriarty Joint Venture, which oversaw the first phase, sued Fort Myers-based Certified Pool Mechanics late last month in Miami-Dade County Circuit for breach of contract and filing a fraudulent lien. Americacaribe-Moriarty is seeking roughly $1.7 million in damages. Richard Chaves, a partner with Ciklin Lubitz & O’Connell…
Video: Multifamily Market Trends and Forecasts: Interest Rates and Foreign Investors
Steven DeFrancis of Courtland Partners, an investor in multifamily apartment properties, Benno Rotschild, a lawyer with Hartman Simons who works with multifamily commercial property investors, Jamie Teabo, a board member of the Atlanta Apartment Association and Executive VP of Post Properties…
ROKK3R Labs Moving to Wynwood
Miami Beach will lose a bit of its startup buzz while the booming Wynwood area will add to its cachet as Rokk3r Labs moves from the beach to the mainland. Rokk3r is one of the most prominent cobuilding platforms in South Florida – a place that entrepreneurs can go and get help getting their businesses off the ground. I’ve previously visited its headquarters just off Lincoln Road, which was a selling point for new recruits and interns. Presumably, the hip nature of Wynwood…