The developers of the $1.5 billion Metropica mixed-use project in Sunrise secured another big financial commitment as construction moves forward. Metropica Holdings, headed by Joseph Kavana of KGH International Development, secured a $22 million loan from BRBB LLC, a subsidiary of Aventura-based Nuverse Advisors. This will fund the second phase of infrastructure work on the…
Lauderdale Marketplace was sold to a local investor for $27 million The 265,000-square-foot shopping center at 2900 to 3784 N. State Road 7 in Lauderdale Lakes was acquired by an affiliate of Pompano Beach-based Exclusive Management and Properties, led by Meir Benzaken. Berger Commercial Realty President Lloyd Berger and Senior VP Joe Byrnes represented the…
2008 photo of Miami’s skyline (Credit: Wyn Van Devanter) Once the nation’s poster region for exploding home prices, the growth of South Florida’s property price has started to downshift. That trend has continued through March, according to the newly released S&P/Case-Shiller Home Price Indices. Home prices in the tri-county area rose by 6.2 percent year-over-year,…
A North Carolina investor purchased 2,168.8 acres of farmland in western Palm Beach County for $25.08 million. Leon Moss Ranch, managed by Kay Moss in Wellington, sold the property on the west side of the L-8 Canal — several miles north of the Twenty Mile Bend on State Road 80 — to St. Lucie River…
Washington, D.C.-based Clarion Partners paid $77.25 million for a four-building industrial park in Pompano Beach. Pompano Industrial Center, an affiliate of Invesco Advisors, sold the warehouses at 1901, 2001 and 2004 N.W. 25th Ave. and 2510 W. Copans Road to CLPF – Pompano Center LLC, an affiliate of Washington, D.C.-based real estate investment firm Clarion…
Property owners won a victory at the U.S. Supreme Court, which ruled Tuesday that they can go to court to challenge government decisions over whether a wetland or stream is subject to the Clean Water Act’s permitting requirements. In U.S. Army Corps of Engineers v. Hawkes Co., the court unanimously ruled that “jurisdictional determinations” on…
Publix Super Markets Inc. has opened a new store in North Carolina that’s a much of a foodie experience as it is a grocery store. The store in Winston-Salem opened May 11. It is a hybrid store, blending the grocer’s GreenWise concept with a traditional grocery store. North Carolina is a major focus for the…
The Miramar City Commission will consider two major development projects at its June 1 meeting: an office building for an insurance company and an apartment complex. Progressive Insurance wants to build a 39,540-square-foot South Florida regional claims facility on the east side of Southwest 145th Avenue, in front of a government office building at 2650…
SH Communities’ 257-acre tract in Melbourne (Source: Florida Today) Miami-based SH Communities is revising a master plan to develop 257 acres of wooded land in Melbourne. An affiliate of SH bought the land for $13 million in 2005, and in 2006, the City of Melbourne approved the company’s proposal to develop 1,381 single-family homes, villas…
2400 Biscayne Boulevard A retail building on Biscayne Boulevard in Miami’s Edgewater neighborhood has hit the market for $6.75 million, as the area surges with new construction. Marcus & Millichap is listing the two-story property at 2400 Biscayne Boulevard. The 11,516-foot building at the corner of Biscayne Boulevard and 24th Street sits on a 12,650-square-foot…