Steelbridge Capital acquired the 270,000-square-foot SunTrust Center office complex on Las Olas Boulevard, the most expensive address for Class A office space in Fort Lauderdale. SunTrust Banks sold the two buildings at 501 and 515 East Las Olas Blvd. for $90 million, according to a source familiar with the deal. That equates to about $333…
A vacant, 58.5-acre site just off Interstate 95 in Jupiter was acquired for $11 million by a company that intends to develop it into a business park. DDR Jupiter Falls, an affiliate of Beachwood, Ohio-based DDR Corp. (NYSE: DDR), sold the property at the northeast corner of Indiantown Road and Interstate 95 to Crossroads 6101…
A household name in Florida real estate circles has been selected for a massive redevelopment project in West Tampa. The Tampa Housing Authority on Wednesday announced that it has selected Miami-based Related Urban Group to redevelop the city’s oldest public housing site, North Boulevard Homes and Mary Bethune. Related Urban is a joint venture between…
A two-story retail and office project recently broke ground on Fort Lauderdale’s high-end Las Olas Boulevard. The Las Olas Co.’s project is at East Las Olas Boulevard and Southeast 8th Ave., just east of the Riverside Hotel. It would have about 16,000 square feet of retail on the ground floor and 15,500 square feet of…
Publix Super Markets Inc. acquired the Shoppes at Andros Isle, where it’s the main anchor, for $14.7 million. Global Andros, a Sunrise-based company managed by retail investor Doron Valero, sold the shopping center at 8989 Okeechobee Blvd., West Palm Beach. The buyer was PSM Andros Isle, an affiliate of Lakeland-based Publix. The shopping center totals…
Rendering of the Radisson RED Miami airport hotel An EB-5 developer in Miami plans to break ground on a $24 million Miami airport hotel this fall, marking the first of three hospitality properties in the works for Riviera Point Development Group in the Southeastern United States. Rivera Point will launch RED, Radisson’s millennial-focused brand, at…
From the New York website: Vying for an even larger-slice of the short-term rental market, Airbnb is in talks for a new funding round that would value the startup at $30 billion, according to a new report. Terms of the round would triple Airbnb’s valuation in two years and make it the second-highest-valued startup in the U.S.,…
Cresa has revived its tenant representation brokerage in South Florida with the hiring of Caroline Fleischer from rival Cushman & Wakefield as managing principal of its local office. Cresa, which has more than 50 offices in North America, received a stunning blow in December 2015 when more than 28 professionals in South Florida, including top…
Rendering of 31-51 29th Street in Wynwood Alex Karakhanian, an active investor in Miami’s MiMo District, has just bought a retail property in Wynwood for $7 million, with long-term plans to develop a 12-story building, The Real Deal has learned. Karakhanian closed Tuesday on 31-51 Northwest 29th Street in an off-market deal. In the short…
North Beach (Photography by Marc Averette) The city of Miami Beach which is generally hostile to the idea of short-term rentals took steps on Tuesday to create a short-term rental district in the city’s aging North Beach neighborhood, home to scores of older MiMo buildings that many say are not economically viable. The city’s planning…