South Florida Commercial Real Estate Blog
Industrial Market Thriving on High Demand, Limited New...
South Florida’s tight industrial real estate market is setting records as demand rises without much new in the pipeline More than 11.5 million SF of industrial space in South Florida was leased in 2017, pushing down vacancy rates and strengthening the industrial real estate market. With higher rents for stores, retailers hold some of their products in nearby warehouses to significantly reduce their store square …
Cover Story: Mixed-Use Zoning Key To Cypress CreekR...
Fort Lauderdale’s Cypress Creek area is one of South Florida’s largest business districts, yet its office market hasn’t bounced back as strongly as others in the region. A proposed zoning change could transform the office district into a vibrant neighborhood with a multitude of housing, dining and entertainment options. As South Florida’s eighth-largest office market, and the second-largest in Broward County, Cypress Creek is …
82-Story Tower Could Replace Marriott-branded Hotel In...
The Marriott-branded Courtyard Miami Downtown hotel could be replaced by an 82-story mixed-use tower. The property currently has a 13-story, 231-room hotel that was built in 1975, which would be demolished. AVR Realty wants to build a 1.53 million-SF tower that would rise 898 feet. It would feature 637 residential units, 266 hotel rooms, about 25,500 square feet of convention and meeting space within the …
Crocker And Rialto Acquire 1.8M-Square-Foot Office Cam...
Rialto is the commercial real estate management arm of Miami-based Lennar Corp. Crocker Partners, Rialto Capital and Siguler Guff formed a joint venture that acquired the Boca Raton Innovation Campus, a 1.8 million-SF office campus known as where IBM created the personal computer. The managing members of Boca T-Rex Borrower, the entity that owns the property, were recently changed to executives with Rialto when …
The Citadel Food Hall In Little Haiti Ramps Up For 201...
It will have up to 22 F&B tenants ranging from 100 SF to 400 SF The Citadel, a 62,000-SF mixed-use building at 8300 Northeast Second Avenue, just signed leases with Stanzione 87, Bianco Gelato and Smashing Avo’s. The food hall will take up about one-third of the building, with the rest going to Entercome Communications Corp. The food hall will have up to 22 food and beverage tenants ranging from …
Will Miami Beach make a deal with Russell Galbut?
Crescent Heights is offering Miami Beach land so it can build a taller building at Fifth and Alton Russell Galbut is offering the city of Miami Beach up to 4 acres of land in exchange for the ability to build a taller tower on a nearby site. The properties in question are part of the Wave mixed-use development, and include the three blocks between …
Terra And Related Boost Construction Loan For Park Gro...
Financing totals $112.1M for the 20-story, 71-unit building One Park Grove is the third and final tower of the Park Grove Project that includes Two Park Grove and the Club Residences. One Park Grove, a 20-story, 71-unit building at 2701 Bayshore Drive, is about 50 percent presold, according to the South Florida Business Journal, which first reported the financing. Units will range from about 3,700 square …
Meet The Woman Tasked With Leasing Up Brickell City Ce...
The 120 doors at Brickell City Centre are 90% leased already. Overholt is hoping to lure quality purveyors of linens, kitchen and bath items, and children’s goods. On a prior Italy trip, Overholt found the inspiration for what would become La Centrale, the center’s 40K SF food hall, which opened this year. Swire Properties Inc. had negotiated with the city to make Brickell City Centre part …
Feds Hike Threshold For Appraisals Tied To Commercial ...
Deals below $500k won’t require certified appraisal, instead of previous $250k limit An inter-agency group of regulators decided on Monday to raise the threshold for commercial real estate deals that need approval from a state-certified appraiser from $250,000 to $500,000. Raising the threshold “will materially reduce regulatory burden” Regulators originally proposed raising the limit to $400,000 to keep it in line with inflation. …
This E-Commerce Giant Thinks Supermarkets And Departme...
Berlin-based Zalando is one of the world’s largest fashion-focused e-commerce firms, with a market capitalization of €11B and 2017 revenue of €4.4B. It sells products directly to consumers and also acts as an online platform for other retailers. “It is something the real estate sector should think about, as well as shops and residential adding multi-let industrial. The growth in online retail is one …