Miami Icon Trades For $220 Million
Miami Tower, one of the city’s most iconic properties, was sold to an affiliate of Sumitomo Corporation of America for $220 million, or nearly $367 per square foot. I&G Miami LLC, an affiliate of the LaSalle Income & Growth Fund V, sold the 618,990-square-foot tower at 100 Second Street….
Owners of Bal Harbour Shops launch public records-based website aimed at vice-mayor
In the latest attempt to salvage their original $400 million expansion plan, the owners of Bal Harbour Shops have launched a website targeting their leading opponent, drawing a sharp rebuke from a perceived competitor caught in the crossfire.
Hermès inks lease for Latin American office in Coral Gables
Hermès of Paris has signed an office lease for its perfume division in downtown Coral Gables. Hermès leased nearly 2,900 square feet at 2020 Ponce, where it will house its Latin American office, Avison Young announced on Monday…
AutoZone Repesented In Ground Lease Valued At Over $1 Million
Joseph Gallaher and Jeremy Larkin with NAI Miami negotiated the 44,501-square-foot retail land lease.
Americas CRE Negotiates Lease With National Traffic Control Company
Ana Rivera of Americas Commercial Real Estate represented the Ohio-based traffic control company in the three-year lease deal.
Exclusive Leasing Agent Named For Dolphin Commerce Center
The industrial complex spans more than 700,000 square feet.
1.6 Million-Square-Foot to be leased in Southwest Miami-Dade
NGKF’s South Florida industrial team already has secured two major tenants for the project.
Ivy Realty Purchases $68 Million Miami Office Portfolio
Ivy Realty purchased a five-building office portfolio in Miami’s Waterford at Blue Lagoon Business Park for $68.25 million, or about $191 per square foot. The seller was a fund managed by DRA Advisors LLC. The portfolio totals 357,466 square feet of office space built between 1982 and 1988.
TA Realty Sells Webster Business Park in Miami
CoFe Properties LLC acquired the four-building Webster Business Park at 7204-7224 NW 25th St. in Miami, FL from TA Realty for $16.6 million, or approximately $99 per square foot. The single-story industrial buildings were constructed in 1972, just a quarter-mile from Miami International Airport.
Two Tenants Sign on to Two MiamiCentral
Major accounting firm Ernst & Young leased 23,000 square feet between two floors at the Two Miami Central located at 604 NW 1st Ave. in Miami, FL. Florida East Coast Industries, Florida’s oldest and largest commercial real estate, transportation, and infrastructure holding company, signed…
Study: Miami Among Hottest Destinations for Millennials
No. 4 Miami may be among the priciest places to live in the country, but that hasn’t deterred America’s youth from longing for the Magic City. In a study by Realtor, Miami ranked fourth nationa
Rendering Alert: Missoni Baia in Edgewater
Check out the amenities Several renderings have been released of the upcoming $350-million Missoni Baia in Edgewater, courtesy of Miami Luxury Homes, revealing the pool deck, atrium housing the fitness center, and a clean shot featuring a dynamic view off one of the residence’s terrace. The 56-story…
Colliers: US Industrial Vacancy Lowest In A Decade
The newest US Industrial Outlook from Colliers puts Q1 2016 in its sights. Bottom line: the news is good. Q1 shows the lowest national industrial vacancy rate in over a decade. Decline in industrial vacancy marked its 22nd consecutive quarter to arrive at 6.3%, which is…
Battling Against State Sales Tax On Commercial Leases
As 2016 chairman of the Commercial Alliance for Florida Realtors, Ed Redlich’s primary goal for the year will be to reduce or eliminate the sales tax on commercial lease agreements. “Our biggest goal is getting the state sales tax reduced on commercial leases. It’s not fair. A sale…
Investors’ urban shopping spree
From the National Market Report: When the developers of Miami Worldcenter scrapped plans earlier this year for a 765,000-square-foot enclosed mall in downtown Miami, opting instead to…
Japanese firm makes major investment play with $220M purchase of Miami Tower
In one of South Florida’s biggest investment plays so far this year, a Japanese firm has paid $220 million for the iconic Miami Tower in downtown Miami. County records show a fund controlled by Chicago’s LaSalle Investment Management transferred the air rights of…
April marks fifth month of falling Miami-Dade home sales: report
Five months into 2016 and it’s starting to look like Miami-Dade County’s housing market might not compare favorably to 2015. A new market report from the Miami Association of Realtors shows sales volume has yet again dipped significantly, this time…
Gramercy Property Trust buys warehouse in Miami: $8M
An affiliate of Gramercy Property Trust paid $8.15 million for a warehouse near Miami Dade College’s north campus.
Records show LFJT LLC sold the 123,125-square-foot building at 11150 Northwest 32nd Avenue, which is northeast of Hialeah…
Downtown Fort Lauderdale’s rental evolution: report
Build it, and they will come. A new wave of luxury rental apartments is in the pipeline for downtown Fort Lauderdale as developers hope to cash in on growing demand from young professionals and millennials. Nearly 3,400 rental units are either planned or currently under…
Helm Equities launches retail, office leasing effort for Design District mega-development
A New York investor who spent $12.5 million on a former church site in Miami’s Design District in 2014 is debuting its plans for an office and retail project on the property. While the site at 4201 Northeast Second Avenue can support a development…