PortMiami Awarded $33M In Improvement Grants

The State of Florida has awarded PortMiami $33 million in grants to be used for port improvements in the next five years. Such improvements are deemed necessary as the effects of the Panama Canal expansion start being felt with the arrivals of ever larger ships. PortMiami is the US container port…

Financing of last resort

Property Markets Group received a condo inventory loan secured by unsold units at Echo Aventura.  From the October issue: Facing an uncertain sellout period, some condominium developers will borrow against their inventory of unsold units. Condo inventory loans are typically high-interest-rate…

PortMiami Receives $33 Million From State For Expansion

The grant will be invested into additional Neopanamax cranes, cargo terminal yard upgrades, inland intermodal facility development and funding for a megafacility capable of processing more than 5,000 cruise passengers at once.

Rumor: Lincoln Road’s Regal South Beach Theater Could Be Closed, Redeveloped

It is a possibility, according to a memo from Miami Beach commissioner Kristen Rosen Gonzalez: Please place on the November 9, 2016 Commission Meeting agenda, a discussion item regarding the rumored sale and redevelopment of the Regal South Beach Stadium 18 & IMAX at 1120 Lincoln Rd. This potential loss, if substantiated, would be a detrimental loss to Lincoln Road.

Contractors return to Echo Brickell as new details emerge on incident

Work has resumed at the unfinished Echo Brickell luxury condo tower as of Monday, nearly two weeks after a scaffolding collapse left five injured and one dead.  And while the Occupational Safety and Health Administration is still in the midst of an investigation, a new memo from the city of Miami sheds light — and raises questions — on what caused two platforms loaded with building materials…

Brickell City Centre shops opening Thursday with Saks and a dozen stores

Years in the making, Brickell City Centre’s open-air retail center is launching on Thursday, bringing 500,000 square feet of new retail and restaurant offerings to Miami’s urban core.  Yet due to construction delays, only anchor tenant Saks Fifth Avenue and about a dozen of the 120 planned stores will open initially, as the rest of the shops and eateries rush to complete their space in time for the holiday season.

Melo Group Breaks Ground on Square Station Apts

Continuing to tap into growing demand for urban living in Miami’s downtown core is The Melo Group, which has broken ground on the Square Station apartments at 1424 NE Miami Pl. in the Media & Entertainment District of Miami-Dade County.  BB&T provided a new $103 million construction loan f…

JPMorgan Securitizes Loan Backing Workplace Property’s Suburban Office Portfolio Buy

JPMorgan issued $557 million in commercial mortgage bonds this past week backed by interests in a portfolio of 108 suburban office and flex properties purchased by Workspace Property Trust earlier this month from Liberty Property Trust.  The $969 million purchase with partners Safanad, a Dubai-based…

Miami-Dade County Land Use & Zoning Attorneys Mapped ~ Find a Miami Zoning Attorney Near You

Finding a Zoning Attorney in Miami.  Customers of ours frequently ask if we know of any zoning attorneys located close to them. Embedded above is an interactive map of attorneys accumulated using the “find a lawyer” tool at FloridaBar.org. Click any icon to access additional…

Land Sales PSF by Miami 21 Zoning Code for the 2 Years Ending March 31, 2016

What land is worth, or more frequently, what the land under an existing structure is worth, is a common topic that comes up in the discussion of commercial real estate.  Each parcel is, of…

Commercial Properties Sold by The Keyes Company: Interactive Map

Above is a map of numbers of properties we have sold in the 2,000 days ending October 25, 2016.  This is not nearly a comprehensive list as it only includes properties where sales were entered in the Miami-Dade MLS – many commercial property sales are not – with a sel…

Middle East a Bigger Player in South Florida Real Estate

It’s no secret that Miami has become one of the world’s most attractive markets for international investors. Latin Americans in particular have had a heavy influence in local real estate as one of the main demographic groups purchasing properties throughout South Florida. However, recent…

How South Florida Real Estate Developers Are Reducing Litigation Risk

Leading up to the Great Recession of 2008, properties throughout South Florida were being bought only to be subsequently resold at a profit.  This “flipping” of properties culminated in an unsustainably-inflated real estate market that eventually collapsed. Flipping was facilitated…

Increased Costs Shifting South Florida Apartment Construction

At the Miami Finance Forum’s recent panel discussion regarding the current status of South Florida commercial real estate, panelist commercial developers stated they are responding to strong tenant demand across all sectors. While all agree that the South Florida commercial real estate…

The Sky is the Limit

Miami’s ever-changing skyline is set for its biggest upgrade yet. With the Federal Aviation Administration’s recent decision to allow buildings in Miami to reach a height of 1,049 feet above sea level, One Brickell City Centre is expected to surpass the Four Seasons Hotel and Tower to be…

4 Reasons Why the Industrial Real Estate Sector is Growing

Learn why industrial real estate may be a better investment than you think.  While it has largely flown under the radar, the industrial real estate sector is growing at a steady clip. The financial and professional services firm JLL recently issued a wide array of data that paints a positive story…

Commercial Real Estate Outlook: How Increasing Rent and Values Impact the Decision to Lease or Buy

There are a variety of factors small business owners must consider when it comes to the decision to buy or lease a commercial property.  When a business owner is in the market for a new commercial space, finding the right location is only part of the equation. Once an area or even a specific location…

The Future Is Now: Virtual Reality Tours Will Revolutionize Commercial Space

Technology is rapidly evolving, and changing the way we do business along with it. And with each advancement, it becomes more accessible, more affordable, and more imaginative.  This is a big reason why virtual reality…

Anticipation is Key: How to Deal with Permit Delays

Having a plan and hiring the right contractor and architect make all the difference in avoiding delays to your project
If you’re getting ready to embark on a construction project, you’ve likely heard the horror stories of delays that stretch projects well past their planned…

Top Zoning Issues When Selecting Commercial Property

Keep these common issues in mind when searching for business space.  If you’re looking to purchase or lease space for your business, there are a host of hoops you must jump through to secure land. Proper zoning is one of them; and it’s extremely important for selecting and protecting your…

New Zoning Proposal for Mana Wynwood

Moishe Mana has just submitted a rezoning proposal for his 30-acre Mana Wynwood property in hopes to attract innovative companies and trade groups to Wynwood. The New York-based developer has submitted a “special-area plan” for approximately 9 million square feet of space. The space…

Own Miami Beach Apartment Building Meridian Park for $3.1M

Miami Beach Apartment Building for Sale: Meridian Park is an exquisitely renovated 14-unit building located on canopy tree-lined Meridian Avenue in South Beach. Just across the street is Flamingo Park, which just underwent a $2.4 million upgrade and is home to 19 brand-new tennis courts, a track…

Brick House Wynwood Restaurant and Property for Sale for $2.7M

Don’t miss this great opportunity to own a newly constructed and established restaurant/bar lounge in the heart of Wynwood’s Cafe District. The kitchen, bar and bathrooms are all built out with stunning finishes and the property features a huge patio for…

FDOT Studying Ways To Improve Intermodal Freight On Miami River

The FDOT is seeking methods of improving intermodal freight movement on the Miami River, according to Miami Today. The study includes the possibility of short sea shipping — transferring containers from freighters onto smaller barges that could navigate the river.  Cargo from…

MIA To Launch Florida’s First Ocean-To-Air Perishables Transit Program

Already the busiest port of entry in America for international air freight, Miami International Airport will soon be able to receive perishable freight imports by sea as well – a first for any Florida airport – through a permit approved in September by the U.S. Department of Agriculture…

Perishables And South Florida: Trade Numbers In Perspective

Fruits, flowers, fish and live horses come in, while medicines, medical products, meat, and perfumes head out. That’s just some of what happens daily at Miami’s three great international nodes: Miami International Airport, Port Everglades and PortMiami. Giving insight into the flow…

Can Buses That Run Like Trains Alleviate Miami-Dade’s Transit Woes?

Forget Metrorail expansion. Miami-Dade is instead moving with all deliberate speed to deploy a different kind of rapid-transit system to connect downtown Miami to the county’s far western reaches, starting as soon as next year, and it will consist of … buses. But not just any buses…

Walking step-by-step in commercial real estate transactions

When Florida residents make important decisions in their lives, they often give a fair amount of consideration and thought to the different issues involved in the matter prior to making the decision. In addition to identifying their objectives and walking through the pros and cons of a particular…

Holding contractors responsible for defective construction work

When Florida business owners acquire new commercial real estate, it can be an incredibly exciting time for the business. The new property may satisfy a long-existing need and allow the company to further grow its operations. For example, a business that has been seeking to expand can take advantage…

What must be included when drafting a purchase agreement?

There are a number of important decisions that must be made by Florida business owners in the course of achieving success for the company. One of the most important decisions often involves commercial real estate. Last week, this blog discussed how business owners frequently are tasked with deciding…

Making the decision to buy or lease commercial real estate

When Florida business owners need to make an important decision, it is vital that they consider all of the advantages and disadvantages that a particular course of action may have. Of course, in order to consider these advantages and disadvantages, business owners need to first be armed with the…

Due Diligence Checklist for Commercial Real Estate Transactions in South Florida

Due Diligence Checklist for Commercial Real Estate Transactions in South Florida: Commercial real estate investments in south Florida can provide lucrative returns when they are selected and managed properly. Rather than just rushing into a transaction, an investor will…

Hurricane Matthew Property Insurance Claims

As Hurricane Matthew bears down on the east coast of Florida, homeowners who happen to be in the path of possible damage are scrambling to make necessary preparations. Staying safe during this storm event is top…

What is the Best Option for Dividing Property in Florida?

If you jointly own real estate in Florida, it is your right to sue for partition. Partition is the dividing up of real property among the owners. When partition is requested, the court decides how much of the property belongs to each individual under Florida Statute 64.05…

Miami Beach board grants variances for townhome project facing Bay Road

The trend of developers focusing on building luxury boutique projects is continuing in Miami Beach.  On Tuesday, the Miami Beach Design Review Board gave design approval and granted four variances for a three-townhome…

Miami CRE heavyweights talk Zika, emerging neighborhoods and more: Video

With Miami’s office, retail and hospitality industries seemingly at their peaks, many in the marketplace are wondering how long the good times will last — and whether they’re already behind us.  The Real Deal put together a panel of five commercial real estate…

Is the Next Silicon Valley Somewhere in Florida?

Tech is one of the fastest growing industries in the U.S. Its impact has spilled over into almost every sector, including commercial real estate.  As JLL’s latest tech report, the 2016 Tech Outlook, points out: technology remains the leading industry…

5 Trends Changing Florida’s Retail Market

Just days after the International Council of Shopping Centers held its annual Florida conference in Orlando, we caught up with JLL’s retail brokerage team to share some of the latest trends the Florida market is experiencing. JLL’s 2016 Florida Retail Report takes a deeper dive at the…

Flagler Global Logistics To Build New Headquarters For Aircraft Parts Supplier

KLX is going to be an anchor tenant of Countyline Corporate Park, a new complex that will offer build-to-suit Class A industrial, office and retail space in one corporate campus setting on the border of Miami-Dade and Broward counties.

NP International pays $60M for Gables Station development site

Berkowitz Development Group has sold the Gables Station development site to NP International for $60.25 million.  Developer Jeff Berkowitz previously planned to build a big-box retail building on the site 251 South Dixie Highway. Records show Gables Station LLC, an entity…

Assemblage near Beckham’s soccer stadium sells for $6M

A group of properties near the site of David Beckham’s planned MLS stadium in Overtown traded hands for $6 million, or $88 per square foot. Miami-Dade County property records show Tayyab Zaidi sold two apartment buildings and vacant land at 1150 Northwest Eight Street Road and 1000 Spring Garden Road. The buyer is 1000 Spring Garden LLC, an entity controlled by a local attorney and tied to broker…

Improper renovations halted at Stanton Marriot historic South Beach hotel

A historic South Beach hotel is being renovated without proper permits, angering neighbors and prompting the city to stop the work Wednesday morning.  The Starbucks on the first floor of the Stanton Marriott at 161 Ocean Drive is closed and obscured by a wooden fence, where a city planning manager confirmed this week that the interior is being demolished beyond what is allowed by a building permit.

How Miami’s real estate market is coping with Treasury’s shell company crackdown: panel

For those in Miami’s real estate market waiting for the Treasury Department to stop tracking shell companies that buy luxury homes, don’t hold your breath.  A panel of industry experts, gathered Wednesday morning at the downtown Miami Hilton hotel…

Seller of $26M Venetian Islands manse sues over broken sale

The seller of a new, multimillion-dollar mansion on Di Lido Island in Miami Beach is suing the buyer over the 10 percent deposit for the now broken $26 million sale.  Dilido 212 LLC, an entity controlled by Ahmad Lee Khamsi, filed a lawsuit in Miami-Dade County…

Miami Industrial Real Estate Market Report Third Quarter 2016

In this 3rd quarter of 2016, Miami’s industrial real estate market experienced another increase of average lease rates to $9.41 per sq. ft. and a decrease in the average vacancy rate to 3.9%. Nearly one million square feet of warehouse space was absorbed mostly by larger, national companies. …

Which Miami Neighborhood Will Be The Next Neighborhood To Be ‘Art-Washed’?

A recent gathering of 350 nonprofit arts groups, organizers and artists from across the country met at the Little Haiti Cultural Center to wrestle with, among other things, the issue of gentrification.

Panel: South Florida developers cautious on condo market

Some of Miami’s biggest developers boasted about the success of their condo projects, but cautioned brokers – and buyers – of the potential risks of projects that have not yet launched or started construction at The Real Deal’s Third Annual South Florida Showcase & Forum on Thursday.  “We’re not looking to start anything new today,” Gil Dezer, president of Dezer Development, said on the developers’ outlook…

Miami ranks fourth for Asian investment among US markets: CBRE

Good news for Miami real estate players hungry for Asian capital.  A report from commercial brokerage CBRE shows more than half a billion dollars worth of Asian cash flowed into Miami real estate…

A tougher sales pitch: Ranking South Florida’s top development marketing firms

One Sotheby’s International Realty was handling the sales for Boulevard 57, a 107-unit condominium project in Miami that was canceled.
From the fall issue: The days of red carpet parties for new condominium developments, with seemingly limitless budgets and endless guest lists, are…

One dead, five injured after construction accident at Echo Brickell

Building materials fell from the Echo Brickell construction site Wednesday afternoon, leading to five injuries and one death. City of Miami Fire Rescue answered calls of a scaffolding collapse at 1450 Brickell Avenue, the site of Property Markets Group’s upcoming 57-story Echo Brickell condo tower, which caused five injuries. Another man, a bystander, suffered a heart attack while running from falling debris…

The week in luxury: A map of Miami-Dade’s priciest condo sales

The temperature in Miami-Dade County might not be getting much cooler this fall, but its condo market felt a serious chill last week. Sales volume fell by roughly $19 million and only two condos managed to break the $1 million price barrier.  At the top of the pile last week was unit LPH4S at Oceana…

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 South Beach’s Boulan condo-hotel for $57M

In yet another big-ticket commercial property trade on Collins Avenue this year, Madison Capital just bought the retail component of South Beach’s Boulan building from BEB Real Estate for $57.3 million.  Madison acquired…

13th Floor, Wexford and Avra Jain sell building near Design District for $13M

Updated, 10:45 a.m., Oct. 21: 13th Floor Investments, Wexford Capital and Avra Jain sold the Clima Outdoor building located at 3650 North Miami Avenue near the Miami Design District for $13.4 million to a New York firm.  Records show 3650 Design Plaza LP sold…

Architect Shohei Shigematsu reveals his vision for Miami

From the fall issue: Behind every starchitect is a team of talented architects striving to realize a unique vision.  Shohei Shigematsu — a partner in the design firm OMA, led by world-renowned Dutch architect Rem Koolhaas — has a flair for the unexpected.

Is the Next Silicon Valley Somewhere in Florida?

Tech is one of the fastest growing industries in the U.S. Its impact has spilled over into almost every sector, including commercial real estate.  As JLL’s latest tech report, the 2016 Tech Outlook, points out: technology remains the leading industry…

5 Trends Changing Florida’s Retail Market

Just days after the International Council of Shopping Centers held its annual Florida conference in Orlando, we caught up with JLL’s retail brokerage team to share some of the latest trends the Florida market is experiencing. JLL’s 2016 Florida Retail Report takes a deeper dive at the fa…

Brickell City Centre Reveals Largest Retailer Lineup To Date

Swire Properties Inc, cap off Brickell City Centre’s 2015 retail announcements with its largest lineup of luxury and premium retail tenants set to join the open-air shopping center under construction in the heart of Brickell.  The list includes coveted luxury brands, international household names…

Latest trends in Downtown Real Estate Market

The latest results from the Miami Downtown Development Authority‘s ongoing residential market research are in and the findings may spell good news for renters.  A new report surveying development in and around Miami’s urban core found that nearly 90 percent of the new residential units built…

A New Waterfront Luxury Condominium Will Rise in Brickell

Great news for those who were waiting for a new luxury tower with unobstructed water views in Brickell… A condominium building of 11 floors will be demolished to make way for a 48-story residential tower.  Miami Waterfront Ventures LLC, a division of OKO Group, paid just under $48 million for…

Vacant Hialeah Industrial Warehouse Gets Purchased And Leased On Same Day

Sharpe Properties is please to announce the purchase of a 3,600 square foot street-level industrial warehouse property by SP33 Warehouse, LLC (SP33 Warehouse).  With the help of Sharpe Properties, the new owner of the vacant warehouse was also able to have it fully leased out to a tenant on the…

Miami Beach’s Famous Lincoln Theatre Site to be Sold

Alas, conforming to the principle of highest and best use of prime real estate – The site of the old Lincoln Road Theatre on Miami Beach’s pedestrian Lincoln Road Mall will be converted to commercial retail use in 2011.  A local group of experienced Miami Beach real estate investors…

The State of Miami Beach Commercial Real Estate Market and Latest Jobs Data

The employment report released by the U.S. Department of Labor showed that job losses are slowing down. Only 11,000 jobs were lost in November 2009, 115,000 less than forecast. In contrast, 597,000 jobs were lost in November 2008, and 700,000 at the beginning of the year. In the prior three months…

Miami Beach’s New Retail Center Almost Complete

South Miami Beach’s first large scale and brand new multistory retail center is close to completing contruction as of late June, 2009.  The 5th and Alton retail center is located just off the Mac Arthur Causeway, which will include 185,000 sq. ft. of vertical retail space and a 943 car…

Aftermath of a Building Sale

Have you ever been a tenant in an office building that was sold? The aftermath of the sale is a tenuous time. Oftentimes a new property management and leasing team are brought on board, so there is a ramp up time as they get a handle on the building, the accounting and the tenants. This new team has…

Sizing Up a Tenant Rep Broker

Most people don’t realize that a commercial broker specializing in office leasing is a highly specialized expert in a unique niche of commercial real estate. Residential realtors and even many commercial brokers rarely have any expertise in commercial leases. While I would not recommend using…

50 Shades of Gray

The headline caught your eye didn’t it? Actually I’m not talking about the book (or movie) but today’s current design trends – gray, white and lots of it. South Florida Business Journal has a slideshow of the 2016 Coolest Offices in South Florida. As I scrolled through some…

Is Your Office a Pain in Your Neck?

At a recent Toastmaster meeting, my dear friend, Paula Hesch, office interior designer extraordinaire, gave a speech on “Office Ergonomics”, the applied science of people’s efficiency in their working environment. Paula had some great information on how to make your work space more…

Construction Allowance or Turn-Key?

Oftentimes when I am negotiating a lease transaction, the question of tenant improvements (i.e. construction) is a primary focus. Some landlords will only provide an allowance, which caps the amount of money they will spend. Others will agree to a turn-key space once they are comfortable with the co…

Epic Miami Beach Rooftop for Sale

We are currently marketing Skydeck Miami, the hottest Miami Rooftop, for sale!  Start by watching this short video. 605 Lincoln Road Rooftop – Miami Beach The most exclusive venue of South Beach is now for sale – we are talking both business and real estate.  Located at the for…

All Aboard Florida To Spend $320 Million On CRE Developments

All Aboard Florida plans to spend $320 million on the development of largely commercial real estate as part of its total anticipated expenditure of $2.4 billion for its passenger train service. There will be offices, retail, entertainment venues and residential properties developed along the track. …

South Florida Isn’t In Latin America – But It’s The Best Place For Doing Business There

The business magazine America Economia ranked South Florida first for infrastructure, regional platform for global business, corporate executive safety, corporate executive prestige, green city standards and best in executive salary to cost of living ratio.

College Kills Downtown Miami Museum Project

Amid a declining real estate market and an escalating feud with a local art dealer, a massive downtown cultural center imploded Monday when college trustees chose to cancel the project.

Miami-Dade Considers Mandatory Workforce Housing Ordinance

A controversial proposal to make workforce housing mandatory in most sizable developments will be considered by a Committee of Miami-Dade County commissioners on Oct. 13.

Just In Time: As Hurricane Matthew Approached, An Overtown Supermarket Opened

What the community redevelopment agency called a “milestone,” the first Overtown supermarket in many years opened the morning weather alerts put Miami in Hurricane Matthew’s path.

Developer Planning 200,000 SF, 12-Story Office Building

Plans also include a 500-plus space parking garage on the site.