Crocker Partners Announces 125,000 SF Lease, $20 Million In Renovations At Miami Center
The deal represents one of the largest downtown Miami office lease transactions this year.
Meridian Begins Construction on Distribution Center in West Palm Beach
Meridian Design Build has broken ground on a 225,198-square-foot sorting and distribution facility in West Palm Beach. The project is a build-to-suit for a global shipping and information services firm. SunCap Property Group is developing the asset, which will be located on a 27…
Spanish biotech company to build U.S. headquarters in Miami
A Spain-based biotech company has decided to lay down its roots in the U.S. with a location within the University of Miami Life Science and Technology Park. Bird Biotech America LLC will add 10 high-paying local jobs and about $50,000 in new capital investments within three years, the Beacon Council said.
Related Group’s Jorge Perez dishes on real estate, economy
Related Group President and CEO Jorge Perez, the most productive condo developer in Miami, invited a group of journalists to the site of a future project to discuss the real estate market and the economy.Reporters at the National Association of Real Estate Editors conference visited the Related Group’s 444 Brickell building on…
Heavenly Returns: Edgewater Church Plans Sale Of 2-Acre Waterfront Lot
The church had received offers of more than $40 million before deciding to place its land on the market.
One of Coral Gables’ largest office parks to get $7M makeover
The owner of the Douglas Entrance Office Parc in Coral Gables has begun a $7 million renovation. The 467,325-square-foot property at 800 Douglas Road was acquired for $101 million in March 2014 by a joint venture of Miami-based Banyan Street Capital and Los Angeles-based Oaktree Capital Management. With new office projects…
Arrested Development: End of the Line for the Fairholme Capital Art Museum?
Developer Bruce Berkowitz has thrown in the towel on his project to build a private art museum and headquarters for his financial management firm Fairholme Capital, due to frustrations with the City of Miami’s planning department. The department, which had been grappling with the unconventional…
Miami Center office tower to undergo $20M renovations after Citigroup renews lease
The 34-story Miami Center office tower downtown is set to undergo $20 million in renovations after main tenant Citigroup renewed its lease. The banking giant (NYSE: C) will continue to occupy 125,000 square feet at the building, at 201 S. Biscayne Blvd., and will add a retail branch there. Citibank had $3.1 billion in deposits in.
Arrested Development: Miami About to Put the Kibosh on the Miami Innovation Tower
Welp, there she blows. The City of Miami Commission has almost entirely put the kibosh, killed, vanquished, vamoosed, “don’t let the screen door hit you on the way out”-ed the Miami Innovation Tower, that so-called ‘giant LED billboard’ that would be the centerpiece of the high-tech Miami Innovation.
Richman Group nabs $32M apartment construction loan in Miami-Dade
An affiliate of Richman Group Development Corp. obtained a $31.58 million construction loan for a garden-style apartment project in the West Kendall/Tamiami area of Miami-Dade County. Richman Three Lakes Development Partners, part of the Greenwich, Conn.-based developer, obtained the loan from Synovus Bank.
Miami-Dade foreclosure rate trends lower
The home foreclosure rate in Miami-Dade County is trending lower, real estate research firm CoreLogic reported.
The percentage of Miami-Dade homes in foreclosure dropped to 3.85 percent in April from 4.05 percent in March and 6.93 percent in April 2014. Irvine, California-based CoreLogic also…
Prive condominium breaks ground with lawsuit pending
The Prive at Island Estate condominium project in Aventura has broken ground, even as a lawsuit from neighboring homeowners aims to halt the project. Developers Gary Cohen and BH3 are building 160 units at 5000 Island Boulevard, which is a private island in Dumfoundling Bay connected to the mainland by a bridge. That bridge…
Port Everglades wins approval to add cargo capacity
The Army Corps of Engineers approved a dredging plan to make Port Everglades deeper and wider after almost 20 years of reviewing the project and its environmental impact. To service larger cargo ships, Port Everglades would deepen its main channels from 44 to 48 feet and would deepen…
Ocean Bank wins $29M foreclosure judgment on Miami-Dade land
Ocean Bank won a $29.8 million foreclosure judgement over farmland in Miami-Dade County that was controlled by Sedano’s Supermarket VP Armando J. Guerra, who recently bought a $12.6 million Coral Gables mansion. The Miami-based bank won the judgment against Krome Gold Ranches II over a $19.1 million mortgage, plus…
Talks advanced for 90% of retail space at Brickell City Centre
Potential tenants are in advanced negotiations to lease 90 percent of the retail space at Brickell City Centre, a $1.05 billion mixed-use development under construction in Miami’s Brickell Avenue financial district. Scheduled to open in about a year, the…
The Grove Finds Momentum in CRE Cycle
Some say Coconut Grove is following Coral Gables’ momentum. Find out what’s going on there.
Aventura medical building sold to escape foreclosure
A foreclosure lawsuit over a medical building in Aventura was resolved after the property was sold for enough to pay its loan. U.S. Bank, representing a commercial mortgage backed securities (CMBS) trust, filed a foreclosure lawsuit in 2013 against GSOMR LLC, along with the Biscayne Institutes of Health and Living and Marie Dicowden…