Downtown Miami’s retail space is about to grow 22 percent larger, stores are selling for record highs, and rents are pushing upward – all signs of the robust demand for retail in the city’s urban core, according to a report commissioned by the Miami Downtown Development Authority. Integra Realty Resources’ report on retail market conditions…
Congress is considering major reforms to a visa program that rewards up to 10,000 visas a year to foreigners who invest in new businesses in the U.S.. The EB-5 immigrant investor program has resulted in $8.7 billion worth of foreign investment in U.S. businesses over the past three years and has created more than 35,000…
IMC Equity Group has landed the first Wawa convenience store in Miami-Dade County as part of the redevelopment of a retail center in Miami Gardens. The Pennsylvania-based chain that offers gas, coffee and fresh food has announced plans to open dozens of locations in South Florida. All of the sites that have been revealed so…
Miami Beach Miami-Dade County’s housing market’s prices flattened from November to December, although the year closed with another month of rising property prices, year-over-year. The cost of a home in December was 6.8 percent more expensive when compared to the same month in 2014, according to a new report from CoreLogic. That increase reflects a…
Wal-Mart Stores sold its former store in North Lauderdale to a company that plans to redevelop the property for new retailers. The retail giant (NYSE: WMT) sold the 15.5-acre property at 7300 W. McNab Road to Arena Shoppes, a Miami-based company managed by Oscar Rodriguez, for $7 million. Miami Lakes-based BankUnited (NYSE: BKU) provided an…
The high-end Bal Harbour Shops purchased a church site for $30 million to clear the way for its expansion. The non-profit Church by the Sea sold the 27,000-square-foot site at 501 96th Street to the Bal Harbour Shops, owned by Whitman Family Development. Despite a campaign by historic preservationists to save the church, it was…
Larkin Community Hospital acquired Palm Springs General Hospital in Hialeah for $40 million in a deal financed by Ocean Bank. This is the third acquisition for South Miami-based for-profit Larkin, which bought a Hollywood hospital now known as Larkin Community Hospital Behavioral Health out of bankruptcy in 2015. It’s also building a medical education campus…
The Fort Lauderdale Commission will decide on Feb. 2 whether to allow the redevelopment and a new lease for the Bahia Mar Resort & Marina, but several neighborhood groups have campaigned against the 2.4 million-square-foot project. The waterfront property at 801 Seabreeze Blvd. is home to the Fort Lauderdale International Boat Show, the largest in…
An affiliate of a Canadian shoe company paid $35 million for a retail building on South Beach’s famed Lincoln Road. Camelot of Miami, managed by longtime owner Philip A. Buhler, sold the 5,332-square-foot building at 635-639 Lincoln Road to Collins Eighth LLC and 730 Lexington LLC. The price equates to $6,564 per square foot, which…
A proposed land swap between Miami-Dade County and the Florida Department of Transportation could result in two projects that transform the neighborhood around the Adrienne Arsht Center for the Performing Arts. FDOT is preparing a $600 million project that would reconstruct Interstate 395 from just west of Interstate 95 to the MacArthur Causeway Bridge. It…