U.S. commercial real estate could attract even more foreign investment thanks to tax changes included in the federal spending bill that was enacted in December. The law made changes to the Foreign Investment in Real Property Tax Act that “are expected to put global companies and pension funds on a more equal footing with their…
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The business of death worked out pretty well for the Falcone Group as it sold the Gardens Memorial Park and Cemetery in Boca Raton for nearly triple what it paid for it. Developer Art Falcone is one of South Florida’s highest-profile real estate developers. He’s behind the massive Miami Worldcenter, among other projects. His company…
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A pair of repossessed buildings on Palm Beach’s Banker’s Row, a strip on the wealthy island known for high office rents, sold at a 19 percent loss to its foreclosed mortgage. Insurance company Investors Warranty of America seized the 23,245 square feet of office space at 205 Royal Palm Way in 2009 after foreclosing on…
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City officials will consider plans for a new building for luxury retail in the Miami Design District, where property values have soared in recent years. “Stardust East” at 4039 N.E. 1st Ave. is the latest building by Dacra, the group that’s building out much of the district. On Jan. 20, the city’s Urban Design Review…
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Two well-known Pinellas County real estate investors have sold the ground lease for the property that houses a newly constructed TD Bank branch on Fourth Street N in St. Petersburg. BDG 39th Ave. LLC sold the TD Bank Ground Lease for the property at 3900 49th St. N on Jan. 6 for $3.25 million, Pinellas…
DetailsFrom the New York website: Title insurance companies, charged with revealing the identity of secret buyers of luxury real estate under a new government directive, are asking for limits to the disclosure requirements before the rule takes effect in March. The American Land Title Association (ALTA), a lobbying group that represents more than 5,500 title…
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Four new-to-Miami tenants signed leases at the Four Season Tower and created jobs. Cushman & Wakefield’s Gordon Messinger represented landlord Millennium Partners in brokering the four leases for more than 18,000 square feet at 1441 Brickell Ave. REV Group moved into 6,100 square feet and hired 20 people. It manufactures vehicles in the fire, emergency,…
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Gramercy Property Trust and Duke Realty Corp. sold the four-building Weston Pointe office park for $114.79 million. The deal covers 399,208 square feet of buildings at 2100, 2200, 2250, and 2400 N. Commerce Parkway, near the Royal Palm Boulevard exit of Interstate 75. The price equates to $288 per square foot. DP Weston Pointe I,…
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Some of South Florida’s most innovative developers believe they have a solution for the region’s housing affordability and gridlock problems: micro units. Shoehorning people into small spaces is common in big cities such as New York because real estate values are sky high. With this region urbanizing and experiencing a spike in rents, downsizing square…
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