Miami

The venture has announced that its first project will be in Coral Gables at 250 Bird Road, bounded by Aurora Street, Altara Avenue and Salzedo Street. Construction on the project is expected to start in mid-2020 and to be complete within two years of the start of construction.

Work on the 10-story 171-key AC Hotel by Marriott Fort Lauderdale Beach that Key International acquired in 2016 as three adjoining parcels, began on Tuesday. The more than half-acre project site is located steps from the beach at 3029 Alhambra St.

Located at 1901 South Ocean Blvd., the project will be located on the land currently occupied by the Wright by the Sea Hotel. The hotel will be demolished at the end of April and construction will begin on Ocean Delray immediately thereafter.

The deal increases Blue Magma's Atlanta area portfolio to 3,000 value-add units purchased by the firm in less than four years at a cost in excess of $133 million.

In addition to Cinemark's theatre, phase two of Atlantic North will involve an additional 300,000 square feet of space to the property.

Herrera tells Globest.com the specific market dynamics that are keeping South Florida in such high demand with local, domestic and international players and what investors can expect in 2019.

The industry gaining the most jobs was professional and business services, which created 54,000 jobs, an increase of 4% of the industry's workforce.

Late last month, Bridge Development Partners acquired the 304,428-square-foot complex from Sherm Realty Corp., an affiliate of Weston, FL-based Apotex Corp. for $38 million.