The office building at 800 Brickell Avenue in Miami Class A office rental rates in Miami-Dade County and Broward each jumped 6.3 percent in 2015, to $41.48 and $33.34, respectively, marking the highest increase among major markets statewide, according to a new report released Wednesday by Cushman & Wakefield. Miami-Dade County asking rents were 7…
Starwood Hotels & Resorts Worldwide Inc. is opening a total of nine hotels under its Aloft, Element and Four Points brands, resulting in 1,335 new hotel rooms across the tri-county area by the end of 2017. The Stamford, Connecticut company (NYSE: HOT) will open new properties in Coral Gables, Miami, Aventura, Fort Lauderdale and Delray…
Downtown Miami (Credit: Marc Averette) It looks like the year-end slowdown for Miami-Dade County’s residential market is creeping into 2016. Existing home sales in the county took a big hit during January amidst rising prices and shifting inventory, according to a new report from the Miami Association of Realtors. A total of 824 single-family homes…
2699 Biscayne Boulevard As land sales reach record per-square-foot highs, a redevelopment site in Edgewater has been listed for sale for $19.75 million or about $475 a square foot. The property, at 2699 Biscayne Boulevard, is one of the few remaining large development sites in the Edgewater neighborhood with frontage on Biscayne, listing agent Ryan Shaw…
The South Florida Business Journal will recognize Donald Soffer with its Lifetime Achievement Award in April. This award will be presented for only the fifth time on April 21 at the 2016 Business of the Year Awards starting at 5:30 p.m. at the Intercontinental Hotel in Miami. Soffer joins past recipients H. Wayne Huizenga of…
Existing home sales fell in South Florida in January, although prices continued climbing, according to the latest Florida Realtors data. It appears that the sales rut that impacted the condo market at the end of 2015, as foreign buyers slowed their purchases, hasn’t gone away. Sales of single-family homes in the tri-county area declined by…
Among Sunshine State banks, South Florida institutions took the top and last spots for income in 2015: Miami Lakes-based BankUnited was No. 1 with the biggest profit, while Miami-based Brickell Bank was last on the list with the largest yearly loss. Overall, Florida banks posted a combined $1.3 billion in net income in 2015, an…
A pair of office buildings in Pembroke Pines sold for $12.5 million, a 39 percent gain after four years. G & C Herald Investors, managed by Mark Corlew in Pompano Beach, sold the two buildings with a combined 82,029 square feet at 2000 and 2010 N.W. 150th Ave. to Chelsea Investments 350 LLC. The buyer,…
The owner and operater of the Latin Cafe 2000 Biscayne in Miami’s Edgewater neighborhood sold his property for $13 million. The deal comes amid a multifamily boom in Edgewater and properties skyrocketing in value. Latin Group II, managed by Latin Cafe owner Jose R. More, sold the 5,194-square-foot restaurant at 2501 Biscayne Blvd. and the…