Miami DDA Projects 1.4 Million SF more of Retail Space – a 22% Increase
Downtown Miami’s retail market will see as much as 1.4 million square feet of new leasable space over next three years, according to a new report by the Miami Downtown Development Authority (DDA). Driven largely by mega-projects like Brickell City Centre, Miami Worldcenter and Miami Central…
Considering Cap Rates and Potential Effects on Values as the Interest Rate Environment Changes
Data Table of Changes in Property Values Given Various Beginning Capitalization Rates (Cap Rates) as 10-Year U.S. Treasury Rates Change Assuming a 30% Ratio of Cap Rate Changes to U.S. Treasury Rate Changes
Within the commercial real estate industry, it is generally accepted that higher interest rat…
Mid-Market Miami-Dade Multifamily Cap Rate Drifts Under 7%
Cap Rate for Multifamily Properties with 20 to 80 Units in Miami-Dade County for the 10 Years Ending 2015
The capitalization rate (cap rate) for mid-market multifamily properties in Miami-Dade County (20 to 80 units, 1,448 properties) drifted to just under 7% in the most recent period reported by…
Mixed-Use Project Planned For North Miami
The project site is located just blocks from Aventura Mall.
New York Community Bank Sells Surfside Retail Bldg
BRG purchased the retail building at 9564 Harding Ave. in Surfside, FL from New York Community Bancorp, Inc. for $18 million, or about $718 per square foot. The 25,0580-square-foot retail building was constructed in 1954 on a half-acre lot in Miami/Dade County. Some of the tenants in the building…
Lennar Buys 143 Acres in Miami Lakes
Lennar Homes LLC has acquired 143 acres at I-75 and NW 154th St. in Miami Lakes, FL from a private owner for $74.4 million. Lennar plans to build 267 single-family homes and 238 townhouses on the site. Both parties handled the direct sale in-house.
Tour the Brickell City Centre Office Tower Ready for Move-In
Brickell City Centre just released images of the finished Three Brickell City Centre, an office tower that will house Akerman LLP, the largest law firm in Florida, which will move in beginning the weekend of February 12. The tower…
Photographic History of the 10 Super Bowls Hosted in Miami
No city is more ingrained in Super Bowl history than Miami. South Florida has hosted what has become the grandest sporting event in the world 10 times, which is tied with New Orleans for the most ever. This 42-year run spans from Super Bowl…
South Florida Super Bowl Bid Committee Proffers Downtown Miami as ‘Super Bowl Park’
It’s no secret Stephen Ross and the Miami Dolphins are salivating at the chance to host a Super Bowl as early as 2019. The Dolphins’ owner wouldn’t be funding a $450-million renovation at Sun Life Stadium if he didn’t think there was…
GGP CEO: Amazon’s Planning Hundreds Of Physical Bookstores
On this week’s earnings call, General Growth Properties CEO Sandeep Mathrani took a question about today’s foot traffic in GGP’s numerous malls located nationwide. In the answer was a piece of news the retail property world only might have anticipated…
Miami Beach moves to clean up Ocean Drive
After years of complaints about out-of-control noise, petty crime and sidewalks crowded with tables and oversized umbrellas, Miami Beach is taking steps to clean up Ocean Drive. The city’s land use committee, made up of city commissioners, on Wednesday heard from members of the…