Malibu firm picks up mobile home parks near Coral Gables for $50M A Malibu-based real estate firm paid $50 million to acquire two mobile home parks on Southwest Eighth Street… 1989 Sunny Court LLC, an affiliate of Marquis Property Company, bought the Silver Court park at 3200 Southwest Eighth Street and the Sunnyside/West Haven mobile […]
Miami Market Update: Investor Interest Drives Pipeline Growth As of September, Miami’s office development pipeline reached 2.9 million square feet, up 6.9 percent month-over-month, according to CommercialEdge data. The under-construction supply represented 4.3 percent of the metro’s total stock, significantly exceeding the the national average of 2.4 percent. The national under construction pipeline has… Construction on […]
Rilea, Promanas buy Wynwood dev site, plan short-term rentals The development site at 100 and 94 Northeast 29th Street and 101 Northeast 28th Street in Miami, Co-developer Rilea Group’s owner and CEO Alan Ojeda and president Diego Ojeda and co-developer Promanas Group’s president and CEO John Bogdasarian are pictured. A short-term rental project with 127 units […]
Mill Creek sells Dadeland apartment towers to Starwood for $371M, marking largest multifamily sale of the year Starwood Property Trust paid $371.1 million for two apartment towers near Dadeland Mall, marking the most expensive multifamily investment sale of the year in South Florida. Starwood bought the Palmer Dadeland, at 8215 and 8217 Southwest 72nd Avenue, […]
Three Retailers Sign Leases at $4B Miami Worldcenter Development in Downtown Miami Three retailers have signed leases to join the tenant lineup at Miami Worldcenter, a $4 billion, 27-acre mixed-use development underway in downtown Miami. The three retailers are Sephora, a beauty and make-up retailer; Lucid Motors, an electric car company; and Bowlero, an entertainment […]
Horizon Properties pays $33M for Publix-anchored shopping center in Hialeah For the second time this month, a Publix-anchored shopping center is at the heart of a big-ticket retail sale in South Florida. An affiliate of Horizon Properties of Miami bought El Mercado Plaza in Hialeah for $33 million, records show. Publix is the anchor tenant […]
Hidrock Properties, Robert Finvarb pay $13M for Wynwood site New York-based Hidrock Properties and its partner, the Robert Finvarb Companies, purchased a property in Wynwood for $13 million that they eventually plan to redevelop, The Real Deal has learned. The two firms acquired the building at 2534 North Miami Avenue and the adjacent lot at […]
Landlords sue federal gov’t over rental losses during CDC eviction ban In three days, the federal ban on evictions is set to expire, allowing landlords in most states to take non-paying tenants to court. But property owners say they deserve more than the freedom to join a backlogged docket. They want money. The National Apartment […]
Fuse Group acquires Security Building in downtown Miami, plans to sue WeWork for alleged lease breach Fuse Group Investment acquired the storied Security Building in downtown Miami and plans to sue WeWork over allegedly vacating its offices in violation of the lease, The Real Deal has learned. The 17-story, historic building at 117 Northeast First […]
Bill Seidle’s Nissan dealership buys Doral building for $16M A Nissan dealership bought a Doral building where it operates its service center for $16 million. An affiliate of Bill Seidle’s Nissan, which sells and repairs vehicles, bought the property at 10688 Northwest 12th Street from The Miami International Grantor Trust, according to public records. The […]
Affordable housing developer buys piece of Little Havana assemblage The site and renderings of Premium Development’s nearby project. (Premium Development) An affordable housing developer paid $15 million for land in Miami’s Little Havana neighborhood. Premium Development bought the 2.3-acre property at 700 West Flagler Street from Presidente Supermarkets, according to a broker involved in the […]
MG3 Group sells Florida charter school portfolio including Everglades Prep in Homestead for $242M An Aventura-based charter school developer sold two South Florida campuses for $78.1 million, as part of a $242 million portfolio deal for eight schools throughout the state. MG3 Group, led by Marcelo Saiegh, Hernan Leonoff and Gustavo Bogomolni, sold the schools […]
Chart: Miami Commercial Real Estate Sales to List Price Ratio March 2021 The sales to list price ratio as reported by the Miami MLS for improved commercial real estate (MLS classification: commercial/industrial) within Miami-Dade county in Florida priced from $1 million to $10 million in March came up a bit to 93% from 89.5% the […]
Capital Realty affiliate sells South Miami office and retail building for $5M An affiliate of Capital Realty Services sold a mixed-use office and retail building along South Miami’s Sunset Drive for $5 million. Sunset One Properties sold the property at 5875-5887 Sunset Drive to 5875 Sunset Group, a Hollywood-based investment group led by Stanley and […]
City Furniture leases Miami Gardens distribution center City Furniture leased a nearly 287,000-square-foot building at Bridge Point Commerce Center in Miami Gardens, another deal marking the strength of South Florida’s industrial market. The Fort Lauderdale-based furniture retailer led by founder Keith Koenig will open a distribution center at Bridge Development Partners’ under… Bridge Development Lands […]
RCI Group sells River Cove Marina in Miami for $11M Real estate and marina developer and owner RCI Group sold a marina on the Miami River for $11 million. Records show RCI Group affiliate 2000 Miami River Marina sold the 72-slip River Cove Marina to Cove Marina Holding, a Delaware entity. Built in 2009, the […]
