New York Investor Pays $360 PSF For Entire Floor At One Flagler

A Hialeah-based entity purchased the 10th floor of the office condo property.  The post New York Investor Pays $360 PSF For Entire Floor At One Flagler appeared…

H&M Leases 15,000 SF in Miami Beach

Clothier H&M leased 15,000 square feet at 763 Collins Ave. in Miami Beach, FL. When it opens this summer, this will be the retailer’s second store on Miami Beach.  The 15,000-square-foot storefront building was completed in 1995.  Greg Masin, Frank Begrowicz and Andrea Vigil of Cushman & Wakefield…

Ridge Development Breaks Ground on Speculative Distribution Facility

Ridge Development broke ground on Airport North Logistics Center, a 182,000-square-foot distribution facility being constructed on-spec in Medley, FL.  The new logistics center will feature a 60-foot speed bay, 46 dock-high doors, two street dock ramps and 72 trailer spaces with additional vehicle…

AKREA Purchases 18 Building Portfolio in South Florida

Adler Kawa Real Estate Advisors (AKREA) purchased an 18-building portfolio made up of light industrial and office space in Delray Park of Commerce in Delray Beach, FL; The Park at Broken Sound in Boca Raton, and Prospect Park I & II in Fort Lauderdale, for $38 million.  Delray Park…

Commercial Property Sales, Prices Continue Slowdown as Investors Pull Back

Commercial real estate prices and investment volume declined for the second consecutive month in February, despite robust leasing that bolstered net absorption and CRE fundamentals in the first quarter of 2016, according to the new release of CoStar Commercial Repeat-Sale Indices (CCRSI) data.

A plan takes shape to fix Miami-Dade’s CRAs

Miami-Dade commissioners would take greater control of community redevelopment agencies under a proposal that would tighten oversight and reduce funding, yet also require many CRAs to set aside dollars for much-needed affordable housing they have yet to provide.

New whistleblowers sue Plaza Health Network saying insiders milked nursing home chain

For the second time in four years, Miami Beach builder Russell Galbut and a nursing-home chain his family cofounded have been accused of illegal misconduct by a whistleblowing former executive.  The post New whistleblowers sue Plaza Health Network saying inside…

Wynwood Arcade’s Stellar Murals by Tristan Eaton are Complete

Construction plows ahead at the new retail and restaurant space The development of Wynwood Arcade is coming along nicely, with Los Angeles-based artist Tristan Eaton finishing a vibrant Wynwoody mural featured prominently at the upcoming retail and restaurant space.  “We are very excited about our…”

First Look at Missoni Baia in Edgewater

Check out the 56-story luxury tower’s first official rendering Missoni Baia, a 56-story residential tower in development in Edgewater developed by Vladislav Doronin’s OKO Group, just released its first official rendering, revealing a sleek and glassy 649-foot condo towering over Biscayne…

Getting In Front Of Lease Accounting Rules Changes

The recently announced Financial Accounting Standards Board changes to lease accounting won’t be in effect for three to four more years, but their potential impact on commercial real estate portfolios could be significant. New business could be the result — moving multi-year leases…

Free Live Webinar: FIRPTA, PATH Acts Compliance

The recent changes to the Foreign Investment in Real Property Tax Act (FIRPTA) that came with the 2015 Omnibus Spending Bill are making waves in commercial real estate investment circles.  Stay on top of what the changes mean to private equity, real estate and…

EB-5 Funded Office Condo In Doral Opens At 92 Percent Sold

Nineteen foreign investors bought into the LEED-certified Riviera Point Business Center Doral, a $9.5 million, 41,000-square-foot, 44-unit project at 1500 Northwest 89th Court.

CenterState Bank To Close Six Miami-Dade Branches Following Acquisitions

As customers migrate to online banking, banks have been cutting back on physical locations.

Urban Burbs Are Sweeping South Florida

Read or Listen to WLRN’s interview with the executive director of the Margate Community Redevelopment Agency, Diane Colonna, about that city’s plans.

Miami-Dade County Takes P3 Reform Further After Florida Passes New P3 Legislation

After months in several Florida House and Senate committees, the State Legislature finally passed two related bills that were both signed by the Governor at the end of April. Importantly, the first bill, SB 124, establishes uniform processes for public entities to enter into P3 agreements. The second…

Peruvian Consulate Purchases Coral Gables Office Building

The post Peruvian Consulate Purchases Coral Gables Office Building appeared first on CRE-sources | South Florida Commercial Real Estate News.

Lufthansa Signs On For 20,000 Square Feet

The post Lufthansa Signs On For 20,000 Square Feet appeared first on CRE-sources | South Florida Commercial Real Estate News.

Miller Construction Company To Build Massive 600,000 SF Industrial Project

The team expects to pour and tilt up a total of more than 28,000 yards of concrete – a process scheduled to take 75 night pours to accomplish. CLICK ON THE HEADLINE FOR MORE
The post Miller Construction Company To Build Massive 600,000 SF Industrial Project appeared first on CRE-sources | Sout…

Mixed-Use Project To Break Ground In Coral Gables

It will feature 33 condos, 57,700 square feet of “Class A” office space, 13,882 square feet of retail, and a 7,400-square-foot pool deck with a wet bar and lounge.

Watch List: Late Cycle CRE Rebound Could Foretell Higher REO Property Losses

The amount of loans held in REO is more than 40% lower than a year ago thanks to improving commercial real estate fundamentals, market liquidity and coninued investor interest in all things real estate. It also helped that the single biggest REO property, the 11,227-unit Stuyvesant Town/Peter Cooper…

Famed Architect Rafael Moneo to Design Apeiron at Jockey Club

Moneo won the Pritzker Prize in 1996 Spanish architect Rafael Moneo, winner of the Pritzker Prize in 1996, has been selected to design Apeiron, a condominum and hotel project at the Jockey Club in North Miami.  Moneo has over 50 years of architectural experience. This will be his first project in South…

Auberge Miami Launches Sales, Releases New Exterior Renderings

Units start at $359K Auberge Residences & Spa Miami has launched sales with Related Group and Alta Developers, the third new project in development in the Arts and Entertainment District in Downtown Miami.  The 60-story tower designed by Arquitectonica released a few new renderings…

Gary Nader Calls Jorge Perez ‘Worst Thing’ for Miami Culture; Perez Takes High Road

The two finalists for MDC’s Downtown project are feuding Days after Miami-Dade College announced Related Group and Nader + Museu LLP as the two finalists to develop a condo tower and cultural arts center on a prime 2.6-acre plot in Downtown Miami, and the two sides are clashing.  Art collector Gary…

MDC Recommends Related, Nader + Museu for Downtown Miami Site

Vote for your favorite proposal Miami Dade College is moving forward with two of the four proposals for their partnership with the mixed-use Downtown Miami site at 520 Biscayne Boulevard, per the South Florida Business Journal.  MDC announced today they will enter negotiations with the Related Group…

Miami 2016 Retail Renaissance

According to Bisnow, “With strong demand drivers in place, developers are anxious to capitalize on the city’s retail market, as evidenced by the 1.4 million square…

Starwood would face problems closing a deal with Anbang

From the New York website: If Anbang Insurance Group wins its bidding war for Starwood Hotels & Resorts, the hospitality firm would still have a lot of work to do to ensure the deal closes.  When financing…

Miami Beach board backs early last call for bars, restaurants

In spite of protests from nightlife attorneys and the nephew of a prominent developer, Miami Beach’s Land Use and Development Committee backed the passage of an ordinance that will restrict the hours of operation for…

Property across from Midtown Walmart sells for $6.5M

A warehouse across from the Shops at Midtown sold for $6.5 million, records show.  The 25,300-square-foot property at 2994 North Miami Avenue is split into three parcels that include a 7,554-square-foot warehouse. The seller, 2994 North Miami Avenue Inc., sold the lots to 2994…

JSRE Acquisitions adds to Wynwood portfolio with $5.7M buy

After buying a retail block along Wynwood’s Northwest Second Avenue, New York-based JSRE Acquisitions has acquired an adjacent building for $5.65 million.  County records show the 4,131-square-foot warehouse at 194 Northwest 24th Street traded hands for…

MORGAN to Break Ground on Pearl Midtown 29 High-rise

Multifamily development and management firm MORGAN, in a joint-venture partnership with Chicago-based Mesirow Financial, will break ground next month on its planned Pearl Midtown 29 luxury apartment high-rise at 180 NE 29th St. in Miami, FL.  The 20-story, 325,000-square-foot tower will be comprised…

Video Discussion: Top Mistakes to Avoid with Contracts – Commercial Real Estate Show

Attorney Seth Weissman joins commercial broker host share tips, strategies and general best practices related to commercial property sales contracts. While only lawyers should write contracts, understanding them as well as possible is important for any commercial real estate investor or practitioner…

Commercial Property in Zip Code 33128: Year’s Top Buyers, Sellers, Ten Year Sales Volume

For commercial property of all types in Miami’s zip code 33128 the top buyers in the past year as listed by Costar on March 8, 2016, were…

Video of Discussion: Commercial Real Estate Lending Today

Tom Walsh with Grandbridge Real Estate Capital sits with commercial broker Michael Bull to discuss what sectors seem to be the most popular with lenders today, how rate increases are affecting lending, underwriting trends these days, general advice for lenders, the best sources of capital by proper…

Commercial Property in Zip Code 33155: Year’s Top Buyers, Sellers, Ten Year Sales Volume

For commercial property of all types in Miami’s zip code 33155 the top buyers in the past year as listed by Costar on March 24 2016, were…

Three Key Questions: Shedding Light on the Present and Future of Miami’s Office Market

Miami’s maturity as an international city makes it a very attractive place where companies, particularly with Latin American connections, want to have an office or regional presence. But its emergence as an international gateway also makes it vulnerable to global economic turmoil. With so much…

Alton Road Mixed-Use Property Fetches $8.65 Million

Scott Sandelin and Alejandro D’Alba represented both the seller and the buyer in the transaction.

CMC Group Breaks Ground on 64 Story Brickell Flatiron in Miami

Ugo Colombo’s CMC Group has broken ground on a 64-story condo tower in the heart of Miami, FL. The Brickell Flatiron will total 730,000 square feet and house 549 brand new residences when it delivers in 2018.  The Italian-born designer must know something that those touting a leveling off of…

The Big Payback: 2016’s Non-Bank Commercial Debt Maturity Spike

The Mortgage Bankers Association’s combined national numbers for commercial mortgage debt held by non-banks tell an interesting tale. The total dollar amount of maturities has risen a sharp 51% from 2015, meaning more debt will mature – yet the bottom line is that principal balance…

Wynwood Buildings Sell For $6M, More Than Triple The 2014 Price

Property records show the parcels last sold for $1.68 million in 2014, which marks a 263 percent increase.

Turnberry wants to build new project on Alton Road

Turnberry Associates and Elion Partners have submitted plans for a new five-story project on Miami Beach’s ever-changing Alton Road.  The proposal, first reported by the Next Miami, includes a mixed-use building with 28,142 square feet…

Flagler Breaks Ground on New Class-A Distribution Warehouse

Coral Gables, FL-based Flagler Real Estate Services began work this week on a new 305,050-sqaure-foot warehouse and distribution facility at 11421 NW 107th St. in Miami, FL.  Flagler Station Building 8 is expected to deliver in early 2017.  The speculative industrial building will include on-site…

Wynwood buildings sell for $6M, more than triple 2014 price

A company controlled by Tony Cho sold two properties in Wynwood for $6.1 million, more than triple the last sale price in 2014.  County records show Wyn 560 LLC, which is controlled by Cho, sold the buildings at 560 and 566…

Video: U.S. Restaurant Industry Performance & Trends ~ Daren Tristano, EVP at Technomic

In this interview by Michael Bull, a commercial real estate broker in Georgia, Daren Tristano, EVP at Technomic, discusses current restaurant industry trends and as well as performance, and the implications for commercial real estate. Which franchises are finding the most success in today’s…

Commercial Property in Zip Code 33165: Year’s Top Buyers, Sellers, Ten Year Sales Volume

For commercial property of all types in Miami’s zip code 33165 the top buyers in the past year as listed by Costar on March 16, 2016, we…

Mid-Market Miami-Dade Industrial Properties Cap Rate Drifts Under 7% ; Top Buyers

The capitalization rate (cap rate) for mid-market industrial properties in Miami-Dade County (10,000 to 50,000 square feet) drifted to just under 7% in the most recent period…

Miami Downtown Development Authority Publishes Annual Report for 2014-2015

The Miami Downtown Development Authority (Miami DDA) published its annual report for 2014-2015.  The report reflects on the past year, which welcomed a flurry of exciting developments.  Some excepts: next year holds the promise…

Flagler Breaks Ground On New Class-A Distribution Warehouse

The new 305,050-square-foot warehouse and distribution facility is expected to deliver in early 2017.

City Of Miami Taps Firm To Sell Administrative HQ Building On Miami River

The 3.15-acre site sits on over 650 linear feet of the Miami River with redevelopment potential of up to 1,574 units.

Analyst Views Oversupply Not Airbnb as Bigger Potential Threat to U.S. Lodging Sector

While all-time highs in hotel room occupancy and average daily rates made 2015 a record year for revenue per available room (RevPAR), according to Moody’s, the ongoing construction boom adding thousands of new hotel rooms threatens to create a supply-demand imbalance, the ratings analyst said…

Park Plaza Apts Sold for $29.5M

A local investor acquired the 252-unit Park Plaza Apartments at 8140 SW 22nd St. in Pompano Beach, FL from MSL Property Management for $29.5 million, or approximately $117,000 per unit.  The 269,994-square-foot multifamily community was built in 1975 on 10.5 acres in Broward County. It features…

Wynwood Center Sold for $22M

Sterling Buildings, Inc. purchased the Wynwood Center industrial building at 201 NW 21st St. in Miami, FL for $22 million from Wynwood Propco LLC.  The sale represents a gain of 633 percent from just 17 months ago, when the seller purchased the 26,764-square-foot property built in 1941 from…

Traffic Index: Miami Ranks 7th Worst in Nation

Los Angeles took home the top spot in the country Miami traffic, while bad on its own, swells to disastrous levels when compounded by two factors: South Floridians are generally horrific drivers — the left-signal-turn-right move is a classic — and alternative public transportation options are…

The 1,900 Year Old (Really) Commercial Real Estate Listing

In 79 AD, the Roman cities of Pompeii and Herculaneum were famously destroyed by the eruption of nearby Mount Vesuvius, a volcano found near the Mediterranean coast of modern-day Italy at the Gulf of Naples.  At the time of the eruption, the Roman empire was in full flower, bringing with it…

Hyatt Hotels to buy Thompson Miami Beach, rebrand property

Hyatt Hotels will buy the Thompson Miami Beach and rebrand it as part of its Unbound Collection, the corporation announced on Monday.  Geolo Capital entered into an agreement to sell the 18-story, 380-room property at 4041 Collins Avenue and expects it to close…

Developer proposes micro-hotel on Washington Avenue

A group of developers submitted plans to the city of Miami Beach for a micro-hotel on Washington Avenue.
Rendering of the hotel’s facade  Washington Squared Owner LLC, an entity controlled by Andrew Joblon, wants to build a Z-shaped hotel with…

Compass space on Lincoln Road returns to market: $22.5M

Compass’ new Miami Beach digs at 605 Lincoln Road have returned to the market, this time with a listing price and a new lead brokerage firm.

South Florida by the numbers: Miami-Colombia real estate connection edition

“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.  The votes are in … the ballots have been counted … and the winner is … Colombia?  While our city…