Miami

Luxury Condo Resale Price Breaks $1,200 Per SF Barrier

David Wilkening | August 17, 2018

Proprietary technology to identify buyers is among the tools used to reach a resale price record.

News

Avanath Capital Expands East Coast Footprint With 273 Affordable Properties In NJ and FL

Steve Lubetkin | August 17, 2018

Both New Jersey and Florida are undergoing rapid economic growth and expansion, as well as experiencing significant population gains, says John Williams, president of Avanath, leading to increased demand for affordable housing options across both states.

New Miami Senior Housing Combines Affordability, Transit Access

David Wilkening | August 16, 2018

The private/public effort is the first of its kind in 25 years.

How Big is South Florida’s Acknowledged Condo Glut?

David Wilkening | August 14, 2018

Here’s a closer look with some new numbers that vary depending on price and location.

Healthy Development: Miami's Next Hot Neighborhood

David Wilkening | August 13, 2018

“We are speaking with numerous retailers and restaurants that want to have a presence in Allapattah and the Health District because that’s where a large majority of our population works and lives."

Downtown Miami Apartment Offers Lower Rates For Carless Residents

David Wilkening | August 09, 2018

“Our firm sees great value in building residential projects that are within walking distance from public transportation."

Largest Broker-Owned Firm Continues To Expand In Florida

David Wilkening | August 09, 2018

Lee & Associates is adding a new Miami office.

New Record For $109M Hotel Sale In Key West

David Wilkening | August 08, 2018

Brokers represent both sides in historic lodging deal.

South Florida Retail Vacancy, Absorption Rates Slightly Up

David Wilkening | August 07, 2018

Grocery-anchored centers most in demand for buyers.

Colliers In South Florida Adds Net Lease Option

David Wilkening | August 07, 2018

Major advantages to net lease lead latest major company to join ranks.

Industrial Pricing Is Eclipsing SW Florida's Office Market

David Wilkening | August 06, 2018

Limited inventory and high demand is pushing industrial flex prices in Southwest Florida.

The Overlooked Market That Is Florida’s Panhandle

David Wilkening | August 03, 2018

Low vacancies, declining unemployment and rising population are all raising retail prospects.

News

Chatham Sees Improved Market Conditions Across Portfolio

John Jordan | August 03, 2018

Among the best performing markets in the hotelier’s portfolio was the State of Florida where its hotel properties’ RevPAR increased 10.2%.

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Crowley Maritime Expands, Consolidates to Flagler Station Space

John Jordan | August 02, 2018

Crowley inked a long-term lease extension and expansion totaling 179,672 square feet to completely occupy a building in Flagler Station Phase II.

News Research

Spring Baseball Is A Home Run for Florida Economy

John Jordan | August 02, 2018

This year’s MLB spring training generated 7,152 jobs on an annual basis and nearly $253.8 million in wages.

News

Credit Union Buys Downtown Tower for $59M

John Jordan | August 01, 2018

VyStar Credit Union approached the ownership about its interest in the building at 76 S. Laura St. earlier this year and a purchase and sale agreement was signed within three weeks of the initial meeting between the buyer and seller.

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Federated Refinances Florida Industrial Portfolio

John Jordan | August 01, 2018

HFF officials state that the six-property portfolio is 100% leased on a triple-net basis.

News Thought Leadership

Medical Office Building Sale Provides ‘Rare Value-Add’

John Jordan | July 31, 2018

The 57,815-square-foot facility on the campus of Memorial Regional Hospital was purchased for $11.5 million by an unnamed private real estate investment firm.

News

Iconic Downtown Building to be Transformed

John Jordan | July 31, 2018

Built in 1936, the building was the third Walgreens outside of Chicago and the first in Florida.

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Florida Vocational Institute Establishes New Campus at Miramar Park

John Jordan | July 30, 2018

In a deal that establishes its second South Florida campus, Florida Vocational Institute has signed a lease at 3502-3560 Enterprise Way and will occupy 29,849 square feet of space.

News Research

South Florida’s International Real Estate Appeal

John Jordan | July 30, 2018

Colombia registered 12.2% of all international searches on the association’s web portal, www.MiamiRealtors.com, in April 2018.

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Duke Realty Expands South Florida Industrial Portfolio

John Jordan | July 27, 2018

HFF announced today Duke Realty’s purchase of the property from Flagler Global Logistics of Miami.

Miami Dade Commission Picks Civil Courthouse Site

John Jordan | July 27, 2018

The property was not Mayor Carlos Gimenez’s first choice, who had pushed to build the courthouse next to the Children’s Courthouse.

News

Lennar Moves Forward With WildBlue Project

John Jordan | July 27, 2018

The WildBlue project will feature a variety of homes to be built by Lennar, as well as other major builders.

Iconic Downtown Office Tower Changes Hands

John Jordan | July 26, 2018

A Transwestern official tells Globest.com that the bidding for the property was intense with more than 300 confidentiality agreements from both domestic and international investors.

With Portfolio Sale, PIA Group Shifts Focus to MF

John Jordan | July 26, 2018

The deal marks a shift in corporate purchasing strategy for the PIA Group from single-family to multifamily value-add opportunities.

CGI Merchant Refinances Four South Florida Properties

John Jordan | July 25, 2018

Starwood Mortgage Capital, LLC of Miami originated $40.75 million for the 55 Miracle Mile mixed-use building in Coral Gables and The Nexus property portfolio.

Strong Demand Fuels Industrial Activity in South Florida

John Jordan | July 25, 2018

At the mid-year point there is currently more than 5.5 million square feet of industrial space under construction in South Florida, a record high for the past 10 years, according to the Newmark Knight Frank second quarter report.

News

Synovus Financial to Merge with Florida Community Bank in Nearly $3B Deal

John Jordan | July 24, 2018

The merger will allow Synovus to increase its presence in high-growth Florida markets, including Pensacola, Tampa, Jacksonville, Orlando, Sarasota, and Naples.

News Research

Tight Supply, High Demand Ramps Up Florida Home Prices

John Jordan | July 24, 2018

For-sale inventory in June remained tight, at a 3.9-months’ supply for single-family homes and 5.5-months’ supply for townhouse-condo properties, according to Florida Realtors.

News

American Landmark Strikes Hollywood Deal

John Jordan | July 23, 2018

The Tampa-based firm says it plans to undertake approximately $3.5 million in capital improvements at the complex at 812 S. Park Road. The property that at the time of closing was 97% occupied.

News

Construction Begins on Gables Station Development

John Jordan | July 23, 2018

NP International, which acquired the 4.3-acre site in November 2016 from Berkowitz Development for $60.25 million, has hired UK-headquartered Balfour Betty to build the transit-oriented project that is scheduled for delivery in the fourth quarter of 2020 and is designed to achieve LEED-certified Silver designation.

News

$495M Sterling Fund Targets Grocery-Anchored Shopping Centers

John Jordan | July 20, 2018

The SVAP III fund intends to primarily target grocery-anchored shopping centers, street retail, power centers and mixed-use properties in major markets across the United States.

News

Latest Buy Puts Coastal Ridge Over $500M in Deals

John Jordan | July 20, 2018

The Coastal Ridge/H. Katz joint venture has purchased more than $1 billion in properties since its inception in November 2014.

News Thought Leadership

Plantation Office Deal Shows Strength of Broward County Market

John Jordan | July 19, 2018

The 79,719-square-foot four story office building at 7901 SW 6th Court in Plantation was sold by TA Associates Realty to Miami-based the Green Companies.

News Research

Strong Demand Fuels Apartment Rent Growth in South Florida

John Jordan | July 19, 2018

Renters in the region absorbed approximately 9,155 units so far this year, which was roughly three times the number of units absorbed during the first half of 2017 and which far outpaced the 6,336 apartment deliveries year-to-date.

Atlantic | Pacific Companies Acquires Alpharetta MF

Steve Lubetkin | July 19, 2018

“The Pointe at Preston Ridge fits our current strategy of investing in existing multifamily communities that can benefit from A|P’s property management expertise and value add/renovation program,” says Mark Briggs, chief operating officer at Atlantic | Pacific Real Estate Group.

News Thought Leadership

BTI Partners Look to Sell 100-Acre Development Site in Orlando Area

John Jordan | July 18, 2018

BTI also reports it has obtained a $12-million loan secured by the 100-acre property from Florida Community Bank. A spokesman for BTI tells Globest.com that while the 100-acre parcel is on the market for sale, BTI still could possibly be involved in the development of the property.

News Thought Leadership

Gift of Life Marrow Registry Moving its National HQ

John Jordan | July 18, 2018

The non-profit signed a 17,465-square-foot lease for its new headquarters at 5901 Broken Sound Parkway Northwest.

News Thought Leadership

Robust Leasing Activity Raises Miami Office Complex’s Occupancy Rate

John Jordan | July 17, 2018

Club Med Sales renewed its 13,005-square-foot lease at Waterford Atrium and expanded by an additional 2,680 square feet. The company now occupies 15,685 square feet at 6505 Waterford, where it houses its sales operations.

News

Club Pilates to Expand Operations in Florida, Chicago

John Jordan | July 17, 2018

The Irvine, CA-based Club Pilates says the firm has seen what it terms as “exponential growth” in Miami-Dade, Broward and Palm Beach counties.

News

Florida’s Economy Hits ‘Historic’ $1-Trillion Milestone

John Jordan | July 16, 2018

Dr. Jerry Parrish, Florida Chamber Foundation chief economist, who forecasted earlier this year that Florida would reach the new $1-trillion economy threshold sometime in 2018, says the milestone was achieved last week. He notes that Florida is adding $2.74 billion each day to the state’s GDP.

News

Another Watercrest-Titan Senior Living Project To Break Ground

John Jordan | July 16, 2018

The Winter Park, FL project named Watercrest Winter Park will be developed by Vero Beach, FL-based Watercrest Senior Living and Titan Development Real Estate Fund 1.

News

JBL Buys Plant City Retail Center for $29M

John Jordan | July 13, 2018

The sale transaction for the 93.3%-leased shopping center was announced by brokerage firm HFF, which marketed the property on behalf of the seller, Retail Value Inc, which earlier this month spun off of Beechwood, OH-based DDR Corp.

News

Metro 1 Seeks JV Partner for $100M Project at Wynwood Gateway Site

John Jordan | July 13, 2018

Tony Cho, CEO of Metro 1, says his firm is seeking a hospitality partner to co-develop the one-acre site located at the intersection of Northwest 2nd Avenue and 29th Street. The conceptual plan calls for the development of hospitality, office, retail and possibly residential space.

News

Tech Repair Franchise Opens 38 New Stores in Second Quarter

John Jordan | July 12, 2018

Among its fastest growing markets, uBreakiFix opened nine new locations in the Kansas City area and four new locations in Florida in the second quarter. The firm also expanded its footprint in Omaha, NE; Toronto, Ontario and other existing markets.

News

Passco Grows Florida Footprint With Jacksonville Buy

John Jordan | July 12, 2018

Passco's portfolio in the Sunshine State now totals more than 3,000 units, according to Colin Gillis, VP of acquisitions, southeast at Passco.

News

Spirit Airlines Expands Corporate HQ in Miramar

John Jordan | July 11, 2018

The airline's latest deal involves an expansion of 26,287 square feet, which ramps up its leased space at the Miramar Park of Commerce to 97,106 square feet.

News

Tampa Bay Rays Unveil New Stadium—Price Tag: $892M

John Jordan | July 11, 2018

Team officials said the ballpark is projected to cost $809 million with additional infrastructure costs of $83 million. The new ballpark they said could be complete in time for the first pitch on Opening Day 2023.

News

Waypoint Residential Sells Orlando-Area Multifamily for $49M

John Jordan | July 10, 2018

The 337,892-square-foot property consists of 16 three-story buildings. Waypoint Residential recently upgraded all unit interiors, which resulted in a notable rent increase and therefore now presents a strong value-add opportunity for the new ownership, according to Cushman & Wakefield.