Coastal Miami, including a rendering of Elysee Residences and Peter Zalewski As concerns grow about the United States being dragged into the current global economic downturn, South Florida developers are increasingly faced with the realization that the asking price for a new coastal condo unit listed on the Multiple Listing Service is averaging more than…
Details
The CityPlace urban retail center in West Palm Beach owned by the Related Cos., headed by Miami Dolphins owner Stephen Ross, had its $150 million mortgage placed into special servicing for “imminent monetary default,” according to Fitch Ratings. The 698,472-square-foot center has its commercial mortgage-backed securities (CMBS) loan in special servicing with C-III Asset Management,…
Details
Burlington Coat Factory has signed a 50,000-square-foot lease to be one of the anchor tenants at the new River Landing project, said developer Andrew Hellinger. Located along the Miami River just west of downtown Miami and near the Health District, River Landing has been approved for 537,000 square feet of retail and 440 apartments. Combined…
Details
A new office building has been proposed in Boca Raton to accommodate a growing company. Dizengoff Boca Raton LLC, managed by Ronon Saban, filed the application with the city in December to build a 7-story, 120,000-square-foot office building at 900 Peninsula Corporate Circle. It acquired the 3.76-acre site out of foreclosure in 2010 for $1.35…
DetailsA proposal to build Presidential Self-Storage is up for consideration in West Palm Beach. The city’s Plans and Plats Review Committee will hear the plans for the three-story, 105,000-square-foot facility on Feb. 10. It would be on the 2.43-acre site at 1620 N. Congress Ave., which is just north of the Palm Beach Outlets. It’s…
DetailsA new global survey of more than 21,000 companies reveals how the presence of women in top ranks is a real payoff — in profits. How much? The Peterson Institute for International Economics survey finds that the more women a firm has in its top ranks in the C-Suite, the higher its profitability will likely…
DetailsPresident Barack Obama’s proposed $4.1 trillion budget plan for next year is primarily a political document, setting the agenda for what Americans can expect if Democrats win the 2016 elections. This year’s Republican-controlled Congress won’t pass the plan’s tax increases — higher rates on capital gains, limits on itemized deductions for wealthy Americans, and a…
Details
Telemundo broke ground on a $250 million international headquarters and TV production studio in Miami-Dade County in what would be the largest investment ever in such a facility in South Florida. The Spanish language media giant, a subsidiary of NBCUniversal and Comcast Corp. (NYSE: CMCSA), plans to eventually employ about 1,300 people at the site…
Details
Thor’s Joseph Sitt, North Miami Avenue properties and Ben Bernstein Less than three years after it began assembling a war chest of properties in Miami’s Design District, Thor Equities has just sold eight sites to Redsky Capital and JZ Capital Partners for $128.285 million. The nearly two-block purchase adds to Brooklyn-based Redsky Capital and London-based…
Details