Fourteen years after being closed and largely abandoned, a hospital building in Miami Gardens is slated for foreclosure auction. The 11-story former Parkway West Medical Center at 17300 N.W. Seventh Ave. has been an eyesore for motorists along the Golden Glades for years with its broken windows, overgrown plants and graffiti-covered walls. It’s been in…
Crescent Heights obtained a $34 million construction loan for a Miami Beach project that’ll be anchored by a Baptist Health South Florida outpatient center. PNC Bank (NYSE: PNC) awarded the mortgage to Alton Road Development, an affiliate of Miami Beach-based Crescent Heights. It’ll fund the 122,000-square-foot project with 175 parking spaces at 709 Alton Road.…
The Webster Business Park in Miami traded for $16.6 million. Webster Business Park LLC, an affiliate of Boston-based TA Realty, sold the 178,521-square-foot industrial property at 7200 N.W. 25th Street to Cofe Cix Webster Park LLC, an affiliate of Miami-based commercial real estate firm Cofe Properties. Miami Lakes-based BankUnited provided an $11.1 million mortgage to…
From left to right: Moderator and Downtown Development Authority Executive Director Alyce Robertson, Tony Cho, Raymond Fort, Andrew Frey and Jon Paul Perez. Miami’s urban core markets generated $1.2 billion in retail property sales last year, with more than half of the total occurring in Brickell, downtown and Wynwood, according to a recent commercial real…
• Boynton Beach-based Forman Capital LLC has formed a strategic partnership with Canada-based Trez Capital Group LP. Trez Forman Capital Group LP will primarily provide clients bridge, mezzanine and senior financing. www.formancap.com. • Pedego Electric Bikes opened a store at 777 E. Atlantic Ave, Suite C7 in Delray Beach. (561) 501-7633 or www.pedegoelectricbikes.com. • The…
Orchard Supply Hardware has nailed down four locations in Broward County as it begins expanding into Florida. Founded in California in 1931, Orchard Supply was acquired by Lowe’s Cos. in 2013. With locations from 35,000 to 40,000 square feet, it fits a niche between the big-box stores and small neighborhood hardware stores, Orchard Supply President…
Hollywood officials will consider two significant development proposals, a CVS Pharmacy and a pair of warehouses. Both applications will go before the city’s Technical Advisory Committee on may 2. The Venture Corporate Center office park at 3440 Hollywood Blvd. could get a 13,013-square-foot CVS Pharmacy with a drive-thru. It would be on what’s currently a…
Strategic Storage Growth Trust said it inked a deal to acquire a self-storage development project in Pembroke Pines once the building obtains its certificate of occupancy. Waterman Pines LLC, managed by Eddy Garcia in Coral Gables, recently obtained approval to build self-storage buildings of two and three stories, for a combined 85,000 square feet of…
Construction cranes South Florida contractors were raking in oodles of cash in March, a new report shows, with construction activity booming across the board. The report, authored by research firm Dodge Data & Analytics, states that $1.55 billion was spent on construction contracts in South Florida last month. Of that total, roughly $673 million went…
Construction project launches in South Florida got off to a rapid start in the first quarter of 2016, upping the pace from last year, according to Dodge Data & Analytics. There were $3.03 billion in construction starts in the tri-county area, up 26 percent from $2.4 billion in the same quarter a year ago. That’s…