Large industrial building planned on newly acquired Miami-Dade site
Ridge Development plans to build a 182,057-square-foot industrial distribution facility on a site it recently acquired in Medley. Langer Holdings Corp. sold the 9.75-acre site for $5.3 million to Ridge Medley Partners, an affiliate of Ridge Development, the industrial property arm of Transwestern Development Co. Transwestern Senior…
Wynwood Property Owners And Developers Band Together To Voluntarily Control Development
The group has crafted a comprehensive zoning plan that its members say will encourage preservation of Wynwood’s characteristic warehouses and funky vibe.
Miami considers multifamily project on Coral Way
The city of Miami commission will consider a 61-unit residential project in the Shenandoah neighborhood on Thursday. The 8-story building with a 3-story parking deck would be located at 2240 S.W. 13th Ave. and 1300 to 1312 S.W. 22nd Street (Coral Way). The area is just south of Little Havana and north of Coconut Grove.
Miami Industrial Land Sale Garners Premium Pricing In Red Hot Market
The buyer, an affiliate of Chicago-based Ridge Development, is planning 175,000 square feet of spec industrial warehousing on the site.
Columbus Properties Sells Office, Garage for $32M
Columbus Properties, Inc. sold the 12-story office building at 155 S. Miami Ave. and the Watts Parking Garage at 26 SE. 1st St. in Miami, FL to Moishe Mana for $32 million. The 160,712-square-foot office building was constructed in 1980 and is currently more than 50 percent vacant. The Watts…
Century 21 Dept Stores Acquires Miami Retail Bldg
ASG Equities, on behalf of Century 21 Deparmtnet Stores, acquired the retail building at 70-74 NE 40th St. in Miami’s design district for $14.6 million, or about $3,200 per square foot. The single-story, 4,530-square-foot storefront property has been recently remodeled from a class C…
Grand Beach Apts Sell for $27.2M
FIP Realty Services LLC sold the Grand Beach Apartments at 7780-7810 Tatum Waterway Dr. in Miami Beach, FL to YTECH International for $27.15 million, or about $151,000 per door. Built in 1948, the multifamily community totals 151,106 square feet across 20 buildings on 3.8 acres. The property has…
FAA is Considering Raising its Hated Downtown Miami Height Restrictions, by About 40 Feet
Reaction on pressure from developers wanting to build taller in Downtown Miami and Brickell, the Federal Aviation Administration is looking into raising the max heights of buildings in and around Miami’s urban core—a height limit it imposes to keep the flight paths in and out of Miami International…
Comment of the day: “If you’ve seen renders for CityPlace…
“If you’ve seen renders for CityPlace Doral and how ugly it looks, anybody would be grateful for another boring work by Zyscovich. I’m not too sure about the height. While I like that the Midtown East project coordinates with the overall lower density of the area between the FEC Railway and closer…
Fort Lauderdale Real Estate market Is Booming
Ten new condo buildings with more than 100 units have been announced for the Las Olas Isles neighborhood located between the Downtown Fort Lauderdale mainland and the barrier island beaches – In the Downtown Fort Lauderdale and Beach market, developers have announced plans to construct at…
Mexican Hospitality extends its operations in Miami
The Grupo Posadas Company has been able to strike a new deal in its efforts to establish an affiliate branch in Miami. The Company is a Mexican hotel operator that…
Inside look: New renderings of the Gale Fort Lauderdale
Developers released new renderings of the $120 million Gale Hotel & Residences Fort Lauderdale Beach on Wednesday, designed by Miami Beach-based Urban Robot Associates. Newgard Development Group, Menin…
Miami home sales in June set 10-year record
Home sales in Miami scored a small victory last month, setting a new volume record for the past 10 years.
June saw a total of 1,390 homes sold in the Miami market, an increase of 8.6 percent year-over year, and an increase of 80 homes from the previous record that was set in…
Chatham Lodging REIT sets sights on Fort Lauderdale hotel
The Chatham Lodging Trust is picking up two hotels for $55 million, one of which is in Fort Lauderdale, the real estate investment trust announced on Tuesday. The REIT is under contract to buy the Residence Inn Fort Lauderdale…
Hughes Supply leases 40,000 sf in Doral
A wholesale plumbing supplier signed a lease for 40,000 square feet at MICC in Miami-Dade, The Real Deal has learned. Hughes Supply signed the longterm lease at the Doral corporate park, which is owned and managed by PS Business Parks.
Beckham: “We can build a world-class stadium” at Orange Bowl site
David Beckham made it official today: He wants to build a soccer stadium next to Marlins Park near the site of the old Orange Bowl. In a letter sent to Mayor Tomas Regalado, Beckham and his partners pledge a “world-class stadium” on the site — while offering scant few specifics on exactly what they’re plotting.
Chinese annual investment in CRE swells to record $10B
Rendering of 111 Murray Street (credit: Kohn Pedersen Fox) and 717 Fifth Avenue (inset: Chinese flag)
From the New York website: Over the past four years, outbound commercial real estate investment from China has increased 72 percent to $10 billion in 2014, with cities in the United States…
Château buys Collins Avenue apartments in Surfside
The Château Group has added to its Surfside holdings with the $5.15 million purchase of an apartment building on Collins Avenue, Miami-Dade County records show. Hialeah-based Grand Futura Properties sold the 15,000-square-foot property…
All Aboard seen as boost for downtown West Palm
All Aboard Florida’s South Florida high-speed passenger train line, scheduled to open in 2017, should help lift the downtown West Palm Beach real estate market, local property professionals told The Real Deal.
Condo Developers Compete With Wild Amenities
Glitz and glamor are nothing new to Miami. But some of the condo amenities are well over the top in this cycle.
Developer Singh wants to build 199-unit resort on Knights Key
One of the most successful developers in the Florida Keys is looking to build a luxury destination spot at the site of the Knights Key RV Resort and Marina. Pritam Singh, who built Tranquility Bay Resort and Indigo Reef Marina Homes in Marathon and Truman Annex in Key West, among many others, wants to convert the RV park…
Seas could rise ten feet in next 50 years, famed climate scientist warns
The latest doom-and-gloom climate change prediction has arrived this week — and it’s a doozy. The study, written by alarmist (yet reputable and regularly correct) climate change scientist James Hansen predicts that sea levels will rise ten feet in the next 50 years. That seems like a lot, especially when many of the 2.4 million people…
South Florida’s hotel market entered slow season in June, report says
South Florida’s hotel market tends to slump with fewer heads in beds during the summer months, and this summer started out no different, according to the data from STR, Inc. The independent research company’s numbers indicate that business will start to pick up in October for hotels in the tri-county area, with January through…
CRE in a bubble? Here’s what 13 top economists think
Commercial real estate prices are through the roof, and now the Fed has voiced concerns over a potential bubble. But has it formed yet? We reached out to some of the country’s top economists to get their take. Here’s what they told us.