World’s fourth-richest man Ortega buys Lincoln Road block with an Apple store for $370M
A company controlled by Amancio Ortega Gaona, the world’s fourth-wealthiest man, purchased a full block of South Beach’s Lincoln Road Mall – including space leased to Apple – for $370 million. In three deeds, Ortega’s Playa Retail Investments purchased every property on the north side of Lincoln Road from Michigan Avenue to Lenox Avenue…
Mary Brickell Village shopping center sold for $113M
The Mary Brickell Village shopping center in Miami’s financial district was sold for $113.46 million to an affiliate of Rockpoint Group. Brickell Main Street, an affiliate of Montreal-based Ivanhoe Cambridge, sold the property at 900 and 901 South Miami Avenue and 911 Southwest 1st Avenue to MB Village Owner, part of Dallas-based real…
Coconut Grove developer buys Wilton Manors property for $14M
Grass River Property and Downstream Realty Partners acquired a Wilton Manors apartment and retail property that could be ripe for redevelopment. David Bukstel-managed 2727 Palm Gardens LLC sold the three parcels for $14 million to 2701 North Andrews Property Owner, an affiliate of the Coconut Grove-based developers.
Keyes Commercial Realty Office
Entire block of Lincoln Road sells for $370M to Spanish billionaire
In one of the largest real estate deals in Miami-Dade history, an entire block of Miami Beach’s Lincoln Road has traded hands for $370 million. And the buyer is the world’s fourth richest person, a Spanish fashion billionaire whose empire includes Zara, The Real Deal has learned. A partnership led by local commercial real estate…
Residents opposing Midtown Miami Walmart lose appeal
Walmart’s attempt to build a superstore in Midtown Miami may have inched a step closer to reality, after a judge denied an appeal from residents who oppose the giant retailer’s move into their neighborhood. Yet, the residents vow to further appeal the case to the Third District Court of Appeal. “The appeal is going to continue,” Grant Stern…
Mid-Miami Beach luxury condo gets green light
Marketing for the 4000 Alton Road luxury condominium project will soon commence, thanks to the approval of a series of design changes by a Miami Beach city board. Those design changes, which were unanimously approved by the Miami Beach Design Review Board on Tuesday, included the approval of a three-foot height variance…
Langford Hotel aims to restore grandeur to downtown Miami
Developer Daniel Pena Giraldi walks through the Langford, pointing out 1920s-era molding, marble and design of the historic property he is converting into a boutique hotel in the heart of downtown Miami. Pena, principal of Miami-based Stambul, has led the restoration and construction of the 126-room hotel.
Construction for Russell Galbut’s 1212 Lincoln Road delayed
The timetable for the construction of a new retail complex in South Beach may be thrown off — by a Pilates studio. Eleven months ago, the Miami Beach Design Review Board approved plans by a subsidiary of Crescent Heights, a company headed by developer Russell Galbut, to build a 203,711-square-foot, five-story retail complex…
Brickell City Centre adds more office space
The developer of Brickell City Centre has placed a larger bet on the office market, as it has converted a planned wellness usage into “Class A” office. In 2014, law firm Akerman LLP signed a lease to occupy 80 percent of the 130,000-square-foot Brickell City Centre Green tower that was under construction as part of the $1.05 billion…
Firm Brokers $10.83 Million Sale Of South Miami-Dade Class A Industrial Warehouse Property
The transaction represents one of the largest commercial real estate transactions in the South Miami-Dade County area this year.
Midtown Doral reveals its first retail tenants
Midtown Doral has announced the first two brands that will open in its 100-store retail component: Capriccio’s Restaurant is the first eatery confirmed for the development at N.W. 107th Ave. in Doral. It will be the Italian restaurant’s third location. It sells salads, desserts, paninis, pastas, risotto and veal or salmon carpaccio.
Demo Time: Mekka Demolished for Paramount Miami Worldcenter Today
Mekka, the former meganightclub and last building remaining on the site of Paramount Miami Worldcenter, that condo tower that will have every possible amenity except the kitchen sink, (which it, ironically, will have hundreds of) was demolished today. According to the developer, it was a demo…
Comment of the day: “Anything that makes Dade Blvd more…
“Anything that makes Dade Blvd more pedestrian-friendly and knits together South Beach and Sunset Harbour will be good. They should REALLY tame that road to nowhere though. I hope all the construction they’ve been doing, and building the West Ave bridge, will help.”
Somebody Save Zaha!: Zaha Hadid’s Miami Beach Parking Garage is Dead
Two developers tried to save starchitect Zaha Hadid’s long-stalled Collins Park Garage for the City of Miami Beach, and the city basically said ‘thanks, but no thanks. That thing’s dead.’ (okay, we’re paraphrasing here, but it was close) Developers Seth Gadinsky and Glenn Boyer have offered…
Tri-Rail is Coming to Downtown Miami, Says the Big Cheese
“It’s going to happen” said Jack Stephens, the executive director of South Florida Regional Transit Authority, a.k.a. Tri-Rail, about the extension of Tri-Rail into Downtown Miami. They have most of the money promised to build their portion of the Downtown…
One Biscayne Tower Inks 100,000 SF in Leases
Law firm renewals and expansions. Those are the two factors driving office leasing activity at One Biscayne Tower these days….