Flagler Global Logistics, one of the largest industrial developers in South Florida, recruited David Bouchard as its new president. The company, a subsidiary of Florida East Coast Industries, hired him away from DB Schenker Logistics for the Americas, where he was the CEO of the national logistics service provider with over 8,000 employees. Prior to…
Miami City Self Storage obtained a $10.79 million construction loan to build its facility in Pembroke Park. Fifth Third Bank awarded the four-year mortgage to Pembroke Park Owners, a subsidiary of MCSS, which is led by Jay Massirman, Stephen Garchick, Steve McBride and David Blum. The general contractor for the 85,000-square-foot self-storage facility with 1,139…
A Walgreens-leased building in the wealthy Broward County city of Weston sold for $11.24 million. SRA/Weston Shop, managed by Clifford M. Stein in Miami Beach, sold the 15,653-square-foot building at 4473 Weston Road to Harris Realty Weston, managed by Evan A. Harris in Boca Raton. The price equates to $718 per square foot. The deal…
3900 Alton From the April issue: Miami-Dade is an international hotspot. About 55 percent of the county’s population is foreign-born and it was foreign investors who reenergized Miami’s real estate market following the fall of Lehman Brothers and the ensuing financial crisis. Yet despite the area’s global appeal, most developers have been content until recently with…
The new Turnpike Park industrial facility in Medley sold for $18.15 million. CH Realty VI-LPC I Miami Turnpike Park, an affiliate of Dallas-based Crow Holdings Capital Real Estate, sold the property at 11500 N.W. 123rd Street to LIT Industrial. The buyer is a Dallas-based private company that owns industrial properties nationwide. The 133,745-square-foot warehouse was…
The developer wants to build a pair of warehouses in Doral for a combined 92,732 square feet. Flightway Ten LLC received a recommendation of approval from the city’s planning and zoning department in March. It has yet to be scheduled for a hearing before the city commission. The project would be on the 5-acre site…
The owner of a Pompano Beach warehouse filed Chapter 11 reorganization in U.S. Bankruptcy Court to halt a foreclosure action. The 42,678-square-foot warehouse at 2303 West McNab Road got targeted with a foreclosure lawsuit by EverBank in 2012. Two years later, the bank sold the mortgage to Pine Portfolio, an affiliate of Newport Beach, California-based…
Kimco Realty Corp. acquired the remaining 45 percent ownership in two major South Florida properties in a $299.2 million deal. The New Hyde Park, New York-based retail developer (NYSE: KIM) said its acquisition of full control of the Oakwood Plaza shopping center in Hollywood and the Dania Pointe mixed-used project just to the south in…
A massive development proposed west of The Acreage has gained initial approval from the Palm Beach County Commission on Tuesday. Commissioners voted 6-1 in favor of a plan that would allow commercial development in the area and the construction of eight times as many housing units allowed under the current rules, according to the Palm…