Fed keeps interest rates steady, stresses “strong economy and job market” The Federal Reserve, led by Chairman Jerome Powell, decided not to raise interest rates on Wednesday, stressing that the economy and job market remain strong. Many expect the central bank to raise rates next month. The Fed also highlighted the low unemployment rate, and noted […]
Stambul Acquires Historic Walgreens Building in Downtown Miami for $19.8M, Plans Redevelopment Stambul, a Miami-based full-service construction and development firm, has acquired the Historic Walgreens Building in downtown Miami for $19.8 million. Located at 200 E. Flagler Street, the building most recently housed La Epoca, a department store that closed in 2016. Habitat Development Corp., […]
American Dream Miami mega mall heads to county commission for final approvals More than a year after securing initial approvals from Miami-Dade County for what is planned to be the country’s largest mall, Triple Five Group will return to the county next month for a final OK. A development impact committee moved the $4 billion, 3.5-million-square-foot […]
Wynwood board approves three new office developments A Chicago developer that lured global conglomerates to the Windy City’s trendy West Loop neighborhood is looking to replicate its success in Wynwood. Sterling Bay Projects is proposing a 10-story mixed-use office building on the west side of Wynwood on Northwest Fifth Avenue between 26th and 27th streets. The […]
Macy’s site on Miami Beach under sale contract Sale of the Macy’s department store site on Miami Beach is currently in process. The site is under contract, with Marcus & Millichap commercial brokerage managing the sale. The Macy’s building itself at 1675 Meridian Ave. is a two-story square building that sits on 50,000 square feet, but […]
Beckham partners eye Melreese golf course for MLS stadium site David Beckham and his partners are considering a new property for their multimillion-dollar Major League Soccer Stadium. Miami City Manager Emilio González met with Beckham partner Jorge Mas on Monday to discuss building the stadium on the city-owned Melreese golf course near Miami International Airport, according […]
Swire partners with Carlos Mattos to develop site next to Brickell City Centre Swire Properties is making moves again in Brickell. Swire is partnering with Colombian businessman Carlos Mattos to jointly develop the property at 650 South Miami Avenue, a spokesperson told The Real Deal. The developers are planning a residential project on the former Tobacco […]
Karakhanian sells Design District building Developer Alex Karakhanian sold a building housing an international fashion school in the Miami Design District to Stockbridge Capital for $22 million. Karakhanian’s Lndmrk Development sold the property at 3701 Northeast Second Avenue for $1,000 per square foot, according to a press release. Milan-based Istituto Marangoni is leasing the 22,000-square-foot, seven-story building. […]
Split decision on new mixed-use towers in Miami’s Omni area One of two mixed-use residential projects planned for Miami’s Omni neighborhood won a green light from a city review board last week as the other was deferred for more design work. Both are from The Melo Group, a family development company championed for building more affordable […]
Historic Olympia Theater offer may still spark renovation A developer’s proposal to renovate the historic Olympia Theater building at 174 East Flagler Street in downtown Miami may be the catalyst for a restoration of the entire property – even though the proposal was withdrawn after voices of opposition were raised. Now the owner of the famous […]
Keystone Property Group buys Dadeland office towers for $36M Keystone Property Group paid $36 million for Dadeland Towers South (birdseye) and inked a lease with the seller, insurance giant AvMed. For Keystone, the deal adds to its holdings in the Kendall-Dadeland area. The commercial real estate firm picked up the two-building, 228,000-square-foot portfolio at 9400 South […]
David Beckham to pay $9 million for final piece of MLS stadium development site in Overtown Miami’s Major League Soccer stadium may finally become a reality. David Beckham is ready to close on the 3 acres of Miami-Dade County-owned land needed to build the stadium, and he now has an investor to pay for it, […]
Towering Miami condo ’18’ – inspired by flower – bed planned for Brickell A 76-story mixed-use development called 18 is planned at the Miami strip center in Brickell anchored by a Burger King, according to The Next Miami. Set to be reviewed by Miami’s Urban Development Review Board next week, the project calls for four levels […]
Moishe Mana buys downtown Miami office penthouse Investor Moishe Mana paid $1.7 million for the penthouse office condo at a Wells Fargo building in downtown Miami. Mana bought the two-story penthouse at 100 East Flagler Street, a 7,609-square-foot condo with 10 offices on the top floor, three on the second… Madison Capital buys retail space at […]
For anyone involved in commercial real estate in Miami, and for that matter anyone interested in Miami, this video is must see material. Created by HBO’s VICE, the episode travels along Biscayne Boulevard, the main artery to the city stretching north to south. The show stops in neighborhoods it bills as being as marvelous and strange as […]
In this video from 2014, a panel consisting of Avra Jain of the the Vagabond Group, Jodi McLean of Edens, and Vincent Signorello of Florida East Coast Industries discuss South Florida commercial real estate.
