A vacant site on Federal Highway in Boynton Beach could be rezoned for a mixed-use project with apartments and medical/professional offices. On Tuesday evening, the city’s Planning & Development Board will consider rezoning the 1.2-acre site at the southeast corner of South Federal Highway and Southeast 5th Avenue from retail/commercial to mixed-use. The developer also…
Miami Tower, one of the city’s most iconic properties, was sold to an affiliate of Sumitomo Corporation of America for $220 million. Acclaimed architect I.M. Pei built the 47-story office tower in 1987 for CenTrust Savings & Loan, at one time the state’s largest bank. The office tower was built atop a city-owned parking garage…
Miami Tower In one of South Florida’s biggest investment plays so far this year, a Japanese firm has paid $220 million for the iconic Miami Tower in downtown Miami. County records show a fund controlled by Chicago’s LaSalle Investment Management transferred the air rights of the office tower at 100 Southeast Second Street to an affiliate of…
Rendering of 1212 Lincoln Road and Russell Galbut 1. Russell Galbut wants to revise his plans for 1212 Lincoln Road [SFBJ]3. Bill would tighten regulations on EB-5 visas [Daily Business Review]3. Wood Tavern’s owner to open Allapattah’s first permanent marketplace [Miami New Times]4. Good news for three key Miami commercial real estate markets [GlobeSt] — Sean…
Miami skyline (Credit: Creative Commons) Five months into 2016 and it’s starting to look like Miami-Dade County’s housing market might not compare favorably to 2015. A new market report from the Miami Association of Realtors shows sales volume has yet again dipped significantly, this time in April, all while prices continue to rise. Townhomes and…
A new General Services Administration study examined the possibilities for replacing the U.S. Court in downtown Fort Lauderdale, and concluded that constructing a new facility is likely the best solution. The current courthouse and federal building suffers from “significant space functionality” issues that impact security for judges and judicial staff and has infrastructure problems, including…
Crescent Heights wants to modify its plans for the 1212 Lincoln mixed-use after acquiring more property on Alton Road, at the entrance to trendy Lincoln Road. The city’s planning board will consider the amendment to the previously approved site plan on May 24. Russell Galbut, head of Miami Beach-based Crescent Heights, said the acquisition of…
The owner of Red Lobster sold three Florida properties occupied by its restaurants to a firm in Miami-Dade County’s Bay Harbour Islands for a combined $17.7 million. GGC Real Estate Investments, an affiliate of San Francisco-baed Golden Gate Private Equity, sold the restaurant buildings in Orlando, Fort Lauderdale and Kissimmee to JCS RedLob III, managed…
A popular time for private receptions is Monday night, when firms book dozens of venues that draw crowds that range from the hundreds to the thousands. From the National Market Report: What happens in Vegas may stay in Vegas. But what happens at RECon, the International Council of Shopping Centers’ annual retail real estate convention in…
The corner office is a proverbial sign of success, but it can cost your company valuable cash to look the part. While leasing space is, on average, only 5 percent to 10 percent of a typical operating budget, it’s still a significant expense for fledgling businesses. Depending on location, the median rent for a 10-person…