The company recently released this video update on its construction progress for the massive project. As can be seen in this video, the foundations are being set for All Aboard Florida’s station in downtown Miami. JC Freyre, VP of Construction for the company, states that workers are setting the augercast piles that are to support the […]
Stabilized purchase: BentallGreenOak pays $60M for Medley warehouse with locked-in tenant BentallGreenOak paid $60 million for a Medley warehouse with a tenant locked in for the next two decades. An affiliate of BentallGreenOak, a New York-based real estate investment firm led by co-CEOs Sonny Kalsi and John Carrafiell, bought a cold storage facility at 7600 Northwest […]
Shops at Midtown Miami Sold, Has Over 3.4 million Annual Visitors Benderson Development has completed the purchase of the Shops at Midtown Miami. JLL Capital Markets said it worked on behalf of the seller to complete the transaction. The property has a leasing rate of 98.3%, and attracts 3.4 million annual visitors. It opened in 2006. […]
609 Brickell Set For Hearing Before Historic Preservation Board A hearing on the 609 Brickell property is scheduled for Miami’s Historic and Environmental Preservation Board on July 2. The First Presbyterian Church and developer 13th Floor Key Church, LLC are requesting an an amendment to the historic designation report for the property. An iconic, 80-story […]
Nightingale’s $82M Miami Beach Office Sale Collapses In Flurry Of Lawsuits The planned $82M sale of a Miami Beach office building owned by Nightingale Properties has failed to close, sparking a court battle between the embattled developer and the planned buyers. The dispute rose to the surface just as CEO Elie Schwartz began repaying $53M in […]
Miami Beach voters approve upzoning referendums Miami Beach residents voted in favor of zoning changes that could boost floor area ratio — or overall project size — of certain properties in the city. They also approved closing a loophole tied to the city’s vacation of public streets. Voters on Tuesday approved an increase in FAR […]
Alex Karakhanian buys multifamily development site north of downtown Miami Developer Alex Karakhanian acquired a site in Miami’s Arts & Entertainment District for close to $15 million, The Real Deal has learned. A partnership led by Karakhanian’s Lndmrk Development acquired the property at 1635 North Miami Avenue, Karakhanian confirmed. Records show JRSY Limited, led by […]
Milestone Group pays $107M for Emerald Palms apartments near Zoo Miami The Milestone Group paid $107 million for the 505-unit Emerald Palms apartment complex near Zoo Miami in southwest Miami-Dade County. The multifamily investment firm bought the community at 12325 Southwest 151st Street from an affiliate of Denver-based Grand Peaks Properties, records show. Milestone Group […]
Landlords sue federal gov’t over rental losses during CDC eviction ban In three days, the federal ban on evictions is set to expire, allowing landlords in most states to take non-paying tenants to court. But property owners say they deserve more than the freedom to join a backlogged docket. They want money. The National Apartment […]
Easton Group to Develop 266,000 SF Warehouse In Hialeah Gardens Easton Group will develop a 266,000-square-foot warehouse in Hialeah Gardens near Miami. An affiliate of Easton acquired an 8.5-acre site for $8.2 million. In September, a different Easton affiliate bought an adjacent 8.5-acre site for $5.6 million. Easton will develop the 266,000-square-foot property across the […]
Virgin Trains seeks $350M to build five stations in Miami-Dade Virgin Trains is proposing a major expansion of the commuter rail service, funded mostly by Miami-Dade County. Virgin Trains USA is seeking $350 million from the county to build up to five train platforms between downtown Miami and Aventura, as well as related infrastructure that would […]
Related, Shoma, PGIM sell Doral apartments for $100 million amid coronavirus pandemic The Related Group, Shoma Group and PGIM Real Estate Investors sold The Flats Apartments at CityPlace Doral for $100 million, marking the largest deal to close in South Florida during the coronavirus pandemic. Harbor Group International paid $330,000 per unit for the two-tower, […]
Developers speak out against Moishe Mana as he compares Wynwood campaign to the Arab Spring As Miami Mayor Francis Suarez and other elected officials urged a truce, Moishe Mana and current and former members of Wynwood Business Improvement District intensified their attacks on one another at competing meetings Tuesday. In recent weeks, Mana sent messages […]
Miami Tops The Nation For Retail Rent Growth Miami-area retail rents increased almost 2% from Q1 to Q2 this year, a pace of rent growth that leads the nation, according to Colliers International’s most recent market reports for South Florida, released last week. Miami’s retail rents now average just under $37 per SF. Roughly 460K […]
Host Hotels buys Sternlicht’s 1 Hotel South Beach for $610 million, setting new record Host Hotels paid $610 million for 1 Hotel South Beach, marking a new per-room record for Miami-Dade hotel sales at $1.42 million a key. Barry Sternlicht’s Starwood Capital Group and LeFrak sold the luxury beachfront hotel at 2341 Collins Avenue, according to […]
Project manager dies from injuries in Miami Beach building collapse A project manager died Friday from his injuries in what appeared to be a flawed effort to demolish the old Marlborough House condominium in Miami Beach. AlliedBean Demolition project manager Samuel Landis, a 46-year-old father and Lighthouse Point resident, had been in critical condition since July […]
