Miami

The portfolio Sweden-based Hemfosa will acquire includes office, warehouse and logistic assets and totals approximately 460,000 square meters or nearly 5 million square feet.

With the Calhoun facility and another location in Florida, MAPEI Corporation operates 13 plants and warehouses in the United States.

The Miami office market in the second quarter continues to show signs of leveling off, JLL reports. The market year-to-date has registered 153,698 square feet of negative office space absorption and a total vacancy rate of 14.2%.

There were 140 multifamily transactions in South Florida in the first quarter of this year, an 8.5% increase as compared to a year earlier. Multifamily per-unit prices also rose in Miami-Dade, Broward and Palm Beach counties.

The sale marks the first purchase in South Florida for Yair Levy, a New York-based investor and developer who has proactively diversified his portfolio of holdings after a contentious legal battle resulted in a ban from selling residential condominiums and co-ops in New York State in 2011.

American Dream Miami might have a larger impact on Florida's economy than any other project since the arrival of Walt Disney World in 1971.