Focus on developing downtown Miami intensifies: ULI event
Downtown Miami, traffic-clogged by day and deserted at night, could soon be transformed into a pedestrian-friendly urban dining and entertainment hub, say planners, brokers and local business owners. Sandwiched between Northeast Sixth Street to the north, Biscayne Bay to the east, and the Miami River to the south and west, downtown Miami has lagged as development has boomed in nearby Brickell, Wynwood and Edgewater. But participants at a seminar last week…
Mexican financier’s $13.4M in South Florida property could be seized
Rafael A. Olvera Amezcua is tied to at least 17 properties valued at $13.44 million in South Florida, either as an owner, through a shell company or through affiliates. For a wealthy investor, millions of dollars in South Florida real estate isn’t unusual. But Amezcua isn’t just a wealthy investor. He is a Mexican financier who allegedly orchestrated a massive fraud against thousands of Mexicans.
What Shippers Need To Know About New US Port Bill
US shippers using the ports of Charleston and Everglades in the coming years should be able to ship their goods via larger ships and avoid navigational hurdles after Congress passed a major port bill late last week. More broadly, US ports seeking to deepen their channels to handle larger ships could…
Filling Station Lofts ditches condo conversion plan, goes back to rentals
Filling Station Lofts, which planned to convert its apartments to condos, has bagged that idea and is back to rentals amid the market slowdown. In June, developer Ron Gottesmann, co-founder and principal of NR Investments, told The Real Deal that the 10-story, 81-unit apartment building in Miami’s Arts & Entertainment District was converting to condos. Even though condo sales had already stalled in the South Florida market, Gottesmann said the switch was being spurred…
With Promises For Infrastructure, Regulations, Trump Sets Bar High For Shippers
In a year of disruption that has ranged from container shipping consolidation to radical changes wrought by e-commerce, few shippers and transportation providers planned for billionaire businessman, reality television star, and Republican nominee Donald Trump winning the US presidential election.
Miami-Dade County Eases Location Restrictions for Breweries, Wineries, and Distilleries
This past December 6, the Board of County Commissioners reduced the minimum amount of space required to have such places next to schools to 1,000 feet (provided they’re not used for agricultural use). The decision was unanimous. Before, the law required a minimum distance of 2,500 feet — roughly a half-mile — from schools and churches and 1,500 from any other establishment that sells alcohol. This new ruling affects Spanish Marie Brewing Company, a 2,500-square-foot…
Builders Risk Insurance: 8 Things You Need To Know
Coverage for insureds with construction exposures beyond the limited parameters of a standard commercial property form is accomplished through the use of the simplified language builders risk form and endorsements. The policy may be used to cover the interest of the building owner, the contractor…
Once Run-Down District Gets Bold New Start In Miami Beach
The launch of an amibitious new arts centre marks a key stage in the rebirth of the Faena District.
Entrepreneurs Take Control Of Brickell Property, Plan Mixed-Use Project
With an entire side of a block to work with along Southwest First Avenue, two dot-com entrepreneurs are now exploring an adaptive reuse project that would modernize their existing buildings.
County Seeks Inland Site For Seaport Cargo Operations
An inland port would be geographically central to private warehouses, allowing PortMiami to store containers and trucks until a shipping customer needs them.
Port Of Miami Terminals Seek Alliance To Negotiate With Container Lines
This is the first time two marine terminals have sought the Federal Maritime Commission’s blessing to create their own alliance.
Kendall Synagogue Sale Negotiated for $5.35 Million
Juan Carlos Mas, former CEO for one of the nation’s largest equipment rental companies, purchased the property, which he’s eyeing for possible redevelopment.
Condo Building On Washington Avenue Hits The Market: $14M
The building is being marketed as a hotel redevelopment with 42 luxury suites.
As Developers Go On Shopping Spree, Miami Retail Has Never Been Hotter
The timing may seem odd, given the obstacles, but experts say the Miami market’s fundamentals are strong and there’s room to grow despite fears of oversaturation when new projects open up. C
Terra Group Cancels $35 Million Offer For West Grove Assemblage
Environmental concerns killed the deal for the offer of 40 properties.
Spanish Billionaire Pays $500 Million For Iconic Downtown Miami Office Tower
The sale of the 55-story Southeast Financial Center is the largest single-building transaction in the history of Miami.
Xceligent Launches Its CRE Platform In South Florida
The company’s flagship research product provides access to building data and market analytics for a total of more than 1.9 billion square feet of commercial space in Miami-Dade, Palm Beach, and Broward Counties.
Not fielding best team will cost city more in riverfront deal
The City of Miami, fielding real estate’s version of a good college team, is about to enter a realty Super Bowl. We know before the game starts that the other team’s top-level pros are going to kick the stuffing out of our side. Maybe that’s why Commissioner Frank Carollo said the…
How the election may affect the commercial real estate industry
The presidential election has the country riveted and divided on several fronts. When it comes to the real estate front, the upcoming election is likely to affect the commercial real estate and residential real estate industry. The economy is still in one of the slowest recovery periods of the…
More Miami Luxury Real Estate: Aston Martin and The WorldCenter
Miami has long been known as a prime market for luxury real estate. Despite the most recent turmoil in the city’s luxury market, the general trend is an increase in Miami real estate valuations. This is by in large due to the market’s adapatation to a new wave of buyers. Two new additions…
Home prices rise across the nation, but not in Miami. Throughout the Fall, the nation saw a rise in home prices. The Standard&Poor’s/Case-Shiller 20-city home price index rose 5.5 perecent between October 2014 and October 2015. Home values rose about 5%…
Miami is a hot market. Whether it’s the trendy Design District or the bustling Ocean Drive, real estate is one of the most attractive elements of the Floridian city. The city’s glamor is quantified in its subsequent real estate trades: everyone wants to own a part of Miami. Last month…
The Current State of Miami Real Estate
Local real estate industry leaders recently gathered in Miami to discuss the real estate market in South Florida. Interest in South Florida real estate from both the United States and abroad has made the real estate market attractive for developers. Due to the increased interest in real estate development…
Challenging Buyer? How To Manage Buyer’s Repair Request When Selling Your South Florida Property
One of the most anticipated moments for any residential or commercial South Florida real estate seller is the inspection process. This is when a professional inspector looks over most every aspect of your property’s appearance and condition, such as plumbing, electrical, heating, air…
Buying A Renovated Home Or Commercial Property? Check Building Permits!
It’s a scenario that happens all too often for professional residential and building inspectors: buyers discover building permits were not issued on their home when the sellers did remodeling. For the new owner, this can be a serious financial and safety issue if they did not confirm that…
Commercial Real Estate Prices Still on the Rise
Commercial Real Estate Prices Still on the Rise, Will the Bubble Burst? The post Commercial Real Estate Prices Still on the Rise appeared…
Five things to consider when deciding whether to include an arbitration clause in a real estate contract
Many types of contracts require the parties to submit their disputes to arbitration. For example, arbitration clauses are common in consumer agreements, such as car leases and gym memberships. While a consumer can negotiate certain terms, like price, most of the provisions are not negotiable. While…
If I get a judgment against my commercial tenant, will I be able to collect?
At times, the easiest part of litigation can be getting a judgment, while collecting on the judgment can be time consuming and expensive. Unfortunately, it is difficult to determine whether you will able to collect on a judgment before filing a lawsuit. In the landlord/tenant context, before pu…
Top 10 provisions your litigator wants in your commercial lease
Your lease could be missing some critical provision that would help you in a potential dispute. It’s bad enough having to call your real estate litigator. But it’s worse when he or she tells you that your lease is missing some critical provision that would help you in your current dispute…
Two types of liens commercial real estate sales brokers should know about
Real estate brokerage is a business. No point in finding a willing buyer for your client’s property unless you get paid for your efforts, right? A lien can be a powerful tool to make sure this happens, but not without risk. There are two types of liens for commercial real estate sales brokers…
How to prevent a tenant from removing valuable equipment before they flee
A landlord may prevent a tenant from taking equipment from the premises by filing a distress writ. Before a landlord files suit for eviction, it should first consider whether there is any equipment on the premises that could help attract a new tenant. Frequently, landlords provide money in the lease…
Miami Beach pauses light rail project to wait for Miami-Dade’s commitment
Mayor Levine wants the people to decide on pursuing a connection between Miami Beach and downtown Miami Not long after Miami Beach residents showed displeasure over moving forward with a $244 million light rail on its island, the City Commission has unanimously decided to press pause on fast-tracking…
Construction defects at the center of Miami lawsuit
Construction is big business in Miami and this is especially true with the luxury market. When there is a property set to be developed, it is necessary for there to be several invaluable pieces in place to ensure that the process goes smoothly. This extends from financing to building to making certain…
Cyber Fraud and Real Estate Transactions
Today’s topic focuses on cyber fraud and real estate transactions while focusing on the ever present threat of cyber fraud and the implication is has for your real estate transaction. Like most businesses where money is involved, we are seeing an alarming trend in cyber fraud in the real estate…
Stemming the Tide of Shopping Center Foreclosures
“A tenant that has another store nearby with better sales may elect to let the less productive store go dark.”
$517M Office Deal Sets Record for Florida Real Estate
CBRE’s Tim Gifford advised the Spanish buyer on the state’s largest commercial real estate transaction of the year.
“It is the right project in the right market in an industry segment we love.”
South Florida’s foreclosure rate dives again in November: report
A June 2011 photo of the downtown Miami skyline (Credit: Marc Averette) and a foreclosure sign. Cooling residential market or not, South Florida is riding a now years-long trend of falling foreclosures rates. A newly released report shows that November marked yet another month of evaporating foreclosures…
South Florida moving toward real estate bubble: Anderson & Carr’s Banting
South Florida is headed toward a real estate bubble, but we’re not there yet, said Robert Banting, president of appraising firm Anderson & Carr in West Palm Beach.
“But it’s just a matter of time before the next [real estate] recession…
Watch Miami grow with this time-lapse satellite view
This video, showing a time-lapse satellite view of the Miami area for the past 30 years, was created with Google’s Timelapse, a global, zoomable video that allows users to see how the Earth has changed in some selected area over the past 32 years. It is made out of 33 cloud-free annual mosaic…
Video: Office Market Update from REIS
Barbara Denham from REIS discusses recent office market trends, including demand growth, vacancy rates, and cap rates, with Michael Bull, the host of this show.
The post Video: Office Market Update from REIS appeared first on HawkinsCRE….
Plans Revealed For Mixed-Use Project In North Miami Beach, Replacing Dean’s Gold
Assembling parcels for nearly $50M over the past two years, CK Prive Group plans for Uptown 163 calls for 160 hotel rooms, 198 apartments, 130,000 square feet of office space, and 200,0000 square feet of retail space.