Downtown Miami at Night
Man-Made Beach in Miami’s Urban Core Turning Heads
Miami real estate prices are rising and investment is pouring into South Florida at a rapid clip. It’s against that backdrop that East Edgewater’s newest luxury condo continues its ascension. Vertical construction at Biscayne Beach, a 51-story waterfront tower located at 711 NE 29th Street along Biscayne Bay, has surpassing…
Developer plans six self-storage facilities in Miami-Dade
A developer announced plans to build six self-storage facilities in Miami-Dade County. Miami City Self Storage LLC, headed by Jay Massirman, Stephen Garchik and Steve McBride, said each building would be about 100,000 square feet with about 1,000 climate-controlled storage units.
The Donald faces rejection from Miami-Dade on Key Biscayne golf course offer
Donald Trump’s offer to manage the Crandon Park Golf Course on Key Biscayne has drawn a proposed rejection from Miami-Dade County Commission Chairman Jean Monestime. The New York billionaire’s Trump Acquisition made an unsolicited offer in July 2014 to sign a 99-year management deal for the public golf course on Key Biscayne and invest $10 million into upgrading it. The deal would be another jewel in Trump’s South Florida golf club portfolio, which includes Trump National Doral, Mar-a-Lago and the Trump International Golf Club West Palm.
Pacific National Bank Moves To Create ‘Center Brickell’ By Combining With Neighboring Property
Next Generation of Arquitectonica Taking on the Grove
Aloft South Beach hotel announces opening date
Aloft South Beach will officially open May 28, representatives from the hotel announced this week.The 235-room hotel was built on the foundation of the historic Ankara Motel at 2360 Collins Avenue in Miami Beach and was expected to open Feb. 26. But construction delays pushed its grand opening back, said…
Synergy Workspaces to open shared office space in downtown Miami
Synergy Workspaces will open an executive office suites center at One Biscayne Tower in downtown Miami. The company signed a 26,144-square-foot lease for the entire 32nd floor of the building and will open on April 30. Taylor & Mathis’ Brian Gale and Ryan Holtzman represented the landlord for the 14-year, $13.5 million deal…
Miami and Miami Beach Considering More Trolleys
Both the City of Miami and the City of Miami Beach are considering expanding their free, and popular, trolley systems with new routes and more service. Miami is looking at adding a new route into Little Havana, while Miami Beach is considering aggressively expanding what was originally meant as a…
Margaritaville Resort construction loan boosted to $55M
The developer of the Margaritaville Beach Resort in Hollywood got a boost to its construction loan as the project nears completion. Bank of the Ozarks (Nasdaq: OZRK) recently added $19 million to the mortgage it granted the project in 2013 to bring the loan up to $54.6 million. Given that it’s been described as a $147 million project…
Rumormongering: Marshalls is Following Ross to Lincoln Road, Most Probably
Lincoln Road has gone to the discount-loving, suburban, bridge-and-tunnel, outlet mall-patronizing, Olive Garden-eating masses. Hot on the heels of the announcement that Ross is coming to Lincoln Road, it looks like that other discount-bin purveyor, Marshalls, is coming too.
Comment (re sea rise) of the Day: “Well a study by the university…
“Well a study by the university of Miami has shown that the sea has risen 3.7 inches since 1996. Also NASA is predicting 30 inch rise or 2 and a half feet in the next 100 years. I should mention that all of NASA’s previous predictions about climate change have been wrong but that was because the…
Store it Real Good: Miami’s booming condo market good for storage biz
Miami’s booming condo market is good news for the self-storage industry, because people always need someplace to store their junk. And in Miami we have a lot of junk. Miami City Self Storage just picked up six primo parcels around Miami in their plan to develop 1 million square feet of storage space…
PortMiami Generates Double-Digit Cargo Container Growth In First Half Fiscal Year
Containerized cargo shipments through PortMiami increased 12 percent during the first six months of fiscal 2015. The government-run port said it handled 477,400 TEUs (twenty-foot equivalent units) through March, up from 426,000 during the same period last year. That number is expected to grow substantially…
Noble Investment Group buys Fort Lauderdale Marriott Renaissance for $48M
Canvas nabs $75M construction loan, now converting to contracts
Canvas, a 513-unit condominium tower planned for Miami’s Arts & Entertainment District, has secured a $75 million construction loan and will begin converting reservations to contracts, The Real Deal has learned.
The proposed 37-story building is now 39 percent…
Trump faces resistance for proposed Crandon Golf Couse takeover
The Donald doesn’t take no for an answer — but a county commissioner is looking to change that. A year after Donald Trump submitted an unsolicited plan to upgrade and manage the Crandon golf course in Miami-Dade, commission chair…
Investors snag site north of Design District as area expands
Proposed rooftop lounge on Lincoln Road up in the air
Plans for a new lounge at the former Sony building at 605 Lincoln Road hit a snag at Miami Beach City Hall Tuesday afternoon. Michael Wilkings, a London-born entertainment executive from Toronto, told The Real Deal his company Howard Hospitality Group has a…
North Miami Beach Based REIT Equity One profits fall in Q1 on lower revenues
Equity One saw a decline in earnings in the first quarter despite an increase in shopping center occupancy.
The North Miami Beach- and New York-based retail REIT (NYSE: EQY) generated $44.2 million, or 32 cents per share, in funds from operations in the period, which was in line with analyst expectations. Yet, that was down…
NY investor plans luxury North Beach apartments with car lift
A New York investor was given the green light to build a luxury apartment building in Miami Beach’s suddenly hot North Beach neighborhood, thanks to the Miami Beach Planning Board’s 7-0 vote. Guy Smilovich, principal of Sterling Holdings…
How Cresa is Filling a Global Void for Space Occupiers
Cresa Argentina, formerly One Side Argentina, is a leading corporate real estate advisor firm that exclusively represents tenants and occupiers of space. So what does that mean for Cresa South Florida?
Kolter to start construction of Boca Raton town home project this summer
Kolter Group said it plans to begin construction of a 75-unit town home project in Boca Raton in June or July.
The Ravella Townhomes project is located at the northeast corner of North Military Trail and Northwest Spanish River Drive. Officials from West Palm Beach-based Kolter said it would have 12 buildings…
KBS buys Financial Center at the Gardens for $63M
KBS Realty Advisors paid $63 million for the Financial Center at the Gardens, a “Class A” office complex in Palm Beach Gardens, according to industry sources. Cushman & Wakefield’s Mike Davis, Michael Lerner, Rick Brugge, Mark Pateman and Tara England represented seller 3801 PGA Acquisition Co., institutional investors…