Margate officials will consider a development plan for a self-storage complex plus a retail building. The project by Winter Park-based Nuvo Development would be on the 2.8-acre site at 750 South State Road 7, on the northwest corner of Southwest 8th Court. The property was foreclosed on by Jacksonville-based Florida Capital Bank in 2012 and…
The home of the Palace, the only gay bar/restaurant on South Beach’s famous Ocean Drive strip, has been sold to a New York investment group for $15.25 million. Miami Beach-based 1200 Ocean Associates, managed by Goldman Properties’ Jessica Goldman Srebnick, sold the 18,287-square-foot building to Infinity 1200 Ocean Drive, an affiliate of New York-based Infinity…
From the New York site: After a wait of 417 calendar days, or 286 trading days, the S&P 500 finally set a new record high on light volume. Bonds have soared, and yields have dropped to ludicrous lows. The 10-year Treasury yield hit an all-time low on Friday of 1.366 percent. Globally, nearly $13 trillion,…
Miramar Park of Commerce The owner of the Miramar Park of Commerce expects to complete speculative construction of an office building there in the fourth quarter. It will be the first new office building in 10 years at the sprawling business park in Miramar, which has about 180 tenants and 5.2 million square feet of…
The 4.8-acre former site of a hospital in downtown Eustis (Source: Orlando Business Journal) Orlando suburb Eustis is trying to identify a developer to bring apartments and retail stores to 4.8 vacant acres downtown, previously occupied by a hospital. The land in the Central Florida city, northwest of Orlando, is the former location of Florida Hospital…
Terranova Corp. sold a pair of office buildings in South Beach, just north of trendy Lincoln Road, for $48.75 million. Beach Tower LLC, an affiliate of Miami Beach-based Terranova, sold the offices at 1674 and 1688 Meridian Ave. to Ivy MBT Property, an affiliate of New Jersey-based Ivy Realty. The buildings have 30,132 square feet…
McKenzie Construction When McKenzie Construction executives needed to find a new home for the boutique firm, their search ended in Allapattah, where the company gutted, designed and redeveloped a 25,000-square-foot building into a massive headquarters with a showroom facing Northwest 17th Avenue. Ronald Kohn and Benji Power “We realized Allapattah has everything we needed,” McKenzie…
The site work for the Wal-Mart at Midtown Miami has been completed, but the retail giant needs to resolve one sticky issue before it can commence vertical construction. This would be Wal-Mart Stores Inc.’s first location in the booming city’s urban core. Plans for the 203,000-square-foot store at 3055 N. Miami Ave. were delayed several…
Donald Trump, Hillary Clinton and the Miami skyline “South Florida By The Numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics. The 2016 presidential election will begin in earnest this month, as both Republicans and Democrats hold their national conventions and formally nominate their respective candidates. While the…
New Urban Communities reached a deal to build Margate City Center, a mixed-use project on 36.5 acres valued at $150 million. The Margate Community Redevelopment Agency on July 12 approved the development agreement with the Delray Beach-based company, led by by Timothy Hernandez and Kevin Rickard. New Urban Communities would acquire most of the property…