Massive Miami Worldcenter project slated for groundbreaking after city’s OK
Miami Worldcenter, one of the biggest urban projects in South Florida, is slated to break ground in the third quarter this year after its phase one site plan cleared approval from the city on Monday. The project will introduce a mall, several residential towers and a convention center hotel on 27 acres of the Overtown neighborhood…
New Tower for Brickell
Miami developer Ugo Colombo is finalizing negotiations to jointly develop a high-end condominium, the Brickell Flatiron, with Russian developer Vladislav Doronin of Capital Group. A new rendering of the Brickell Flatiron project shows a flowing, curvy structure soaring 65 stories on a triangular…
449-Unit Riverside Tower Getting Construction Ready
River Tower, LLC has been finalizing details needed to start construction of a downtown Miami residential tower known as Riverside Tower. Last month, River Tower’s Brian Campbell signed a deal to connect water and sewer to the site. The developer will pay a nearly $500,000 connection charge. Also last month, the developer…
Awesome Facts About Miami that Make it a Great Place to Invest in Commercial Real Estate
Miami has grown by such leaps and bounds in the past decade or so, it is easy to lose track of all the areas where it has attained a leadership position. In the aggregate, these all add up to one word – exciting. Miami is more on the map, as they say, with perhaps the best evidence being that it recently squeaked by Paris on its way to…
Greystone Gets Financing To Build 20-Story Apartment Tower At 2500 Biscayne
Greystone has obtained construction financing to build the 2500 Biscayne apartment complex, according to the SFBJ. The New York-based developer is said to have received a $27.4 million advance to start work on the 20-story project, where site work began earlier this year. A building dating to 1923 has already been demolished…
Miami Intermodal Center Almost Complete
Now that the PortMiami tunnel has been dedicated and the reversible toll lanes on Interstate 595 have opened, a third major South Florida transportation project is headed toward completion. The massive Miami Intermodal Center, just east of Miami International Airport, is expected to be ready in the…
Work on Watson Island Must Begin by June 2
Work must begin on the massive Island Gardens mixed-use development on Watson Island by June 2 – a requirement of the latest lease extension – but that cannot happen until state officials reaffirm their approval of the project. City commissioners will be dealing with the issue this week…
Keeping Track of All Miami Developments
This map of the Miami area shows area developments. It lists 67 in total, each shown on the map with easy to find color coding. It appears to cover the area from Brickell to Edgewater.
Breaking! Microsoft Comes to Miami in a Big Way
First Microsoft Innovation Center in the U.S. to Open in Miami. The following post is from Sanket Akerkar, Vice President of Developer & Platform Evangelism, Microsoft. On Friday, to kick-off Techweek Miami 2014, Microsoft formally announced plans to open the first U.S.-based Microsoft Innovation…
WSJ: Strong Dollar Makes U.S. Real Estate Less Attractive to Foreigners
A strengthening dollar is putting the haven of U.S. home ownership out of reach for some foreign investors. After years of finding bargains in a down real-estate market, some purchasers from abroad now face sharply higher housing prices because their nations’ currencies have fallen against the dollar. That could reshape…
BofA loan helps Flagler build warehouse near MIA
Flagler Global Logistics has started construction of a fourth warehouse in the South Florida Logistics Center thanks to a Bank of America loan. The bank (NYSE: BAC) provided a $15.9 million mortgage to SFLC Building 4, an affiliate of the Coral Gables-based development arm of Florida East Coast Industries. It recently started…
Slowly, Baylink Progresses
The city of Miami Beach may spend $26 million on property in South Beach that could eventually become a transit hub. City Manager Jimmy Morales on Thursday signed a letter of intent to buy about three-quarters of an acre at 1100 Fifth St. The land, where the MacArthur Causeway dumps thousands of vehicles…
Could Miami’s Skyline One Day Resemble Manhattans?
Icon Brickell, a three-tower complex in Miami’s financial district, was supposed to be a flagship project for the Related Group, the city’s top condominium developer. It would boast 1,646 luxury condos, a 91-metre-long pool, and a hundred 22-foot columns in its entryway. By 2010, however…
New Skyscraper proposed for Alton
Developers are planning to build what could be Miami Beach’s tallest building on the city’s front doorstep — beside the Alton Road flyover at the end of the MacArthur Causeway. Designed by international architecture firm Perkins + Will, the residential tower would rise 50 stories…
Roche Bobois to open store in South Florida’s ‘next Design District
Roche Bobois may be debuting in South Florida’s next Design District, said Julien Bigan, the company’s U.S. communications director. The Paris-based, high-end furniture retailer and manufacturer opened its newest showroom near the Aventura Mall on April 20. Since then the location has attracted more clients on…
Industrial developer DCT buys west Miami-Dade site for $12M
An affiliate of developer DCT Industrial Trust acquired a vacant site in western Miami-Dade County for $12.23 million. Philip L. Brawner, as a trustee, sold the 23.5-acre site at at the southeast corner of Northwest 17th Street and Northwest 130th Avenue to DCT Pan American Southeast, an affiliate of the Denver-based…
Flagler Street in Downtown to get Makeover
Commercial Prices Are Rising
Industry specialists agree commercial land is selling at a robust pace compared with four or five years ago now that investors have more confidence and are seeing the benefits of an improving economy. An analysis of 537 land sales over the past two years and an average price per square foot on each…
Baptist Health has income halved in fiscal second quarter
Baptist Health South Florida saw its income fall 55 percent in the fiscal second quarter as it incurred greater expenses. The Miami-based nonprofit hospital and clinic operator – one of the largest employers in South Florida – earned $36.1 million in the quarter ended March 31, down from earnings of $80.6 million in the same period…
Early Renewals Drive Iconic Las Olas Office Building To 100 Percent Leased
Patriot National, Inc., which recently renewed their 36,537-square foot lease at LOCC, also expanded by another 13,592 square feet.
AmEx’s Departure Makes Way For New 52,000 SF Tenant In Weston
After residing in the Weston Park of Commerce for the last 10 years, American Express is leaving its offices behind and a tech company is moving in.
Health care firm leases 53,000 square feet in Weston
Altegra Health signed a 52,960-square-foot lease in Weston to fill space being vacated by American Express. The company, which provides technology and payment solutions to health plans, will relocate its headquarters from 14261 Commerce Way in Miami Lakes to Weston Park of Commerce at 1725 North Commerce Parkway. Avison…
Flagler Starts Construction Of Fourth Warehouse In South Florida Logistics Center
Bank of America provided a $15.9 million mortgage for the project.
Developer Planning Office Condo In Aventura
At $550 per square foot, the developer states that six of the 9 floors are already sold.
Riviera Point Development Group To Launch Construction Of Third South Florida EB-5 Office Project
The launch coincides with the completion and rapid leasing pace of the developer’s first international EB-5 funded office complex in Broward.
Downtown Miami Retail Building Trades For $27.2 Million
The purchase price of the property, which is located directly opposite the future site of SkyRise Miami, equates to $495 per square foot.
Industrial Developer Picks Up 28-Acre Vacant Lot For $12.2 Million
The developer plans to build and lease a distribution center.
Worldcenter A Go Go: Miami Worldcenter, one of the…
Miami Worldcenter, one of the biggest megaprojects happening in Miami now, has just gotten the A-OK from Miami to begin construction and will break ground in the third quarter of this year. Basically, everyone has a few more months to say goodbye to all of those bleak parking lots behind the ‘Biscayne…
Let’s get the party started: The grand opening of the Faena District…
The grand opening of the Faena District, developer Alan Faena’s very high end neighborhood-sized wonderland, will be “a thousands-strong, district-wide, people-powered processional performance” this November, and they’ve already started planning. Faena held a meeting of cultural movers and shakers…
Miami Worldcenter gets city approval for first phase
The massive mixed-use Miami Worldcenter project is moving forward after it received approval for its first phase from the city of Miami. Its developers said they will begin to seek building permits for the first phase, which will include the…
W.P. Carey reports lower Q1 net income
W.P. Carey, a New York-based real estate investment trust, on Monday reported $38.6 million in first quarter earnings, down from $117.3 million during the same period of 2014. In South Florida, W.P. Carey owns 4141 Southwest 30th Avenue…
Miami Worldcenter Hits Big Milestone
“Miami Worldcenter will transform 27 acres in the heart of Miami into a city within a city…”
Is Miami Seeing a Condo Correction or Not?
With a growing number of luxury condo high-rises going up, is there a market correction on the horizon? Does it depend on whom you ask? Yes and no.
Is This a Record for Non-Oceanfront Land?
“This transaction simply supports what an extraordinary site this is, and the high quality development that is forthcoming.”