A massive government spending bill that includes lots of tax breaks for business cleared Congress Friday and is headed for President Barack Obama’s signature. The Senate passed the legislation on a 65-33 vote, following House passage earlier in the day. The legislation combined a bill that provides $1.1 trillion for funding the government through Sept.…
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Rendering of Park Place in Boca Raton Development and redevelopment are thriving in Boca Raton’s retail real estate sector, as population influx and a vigorous economy provide a boost. “Retail in South Florida is all on the upswing,” Gregory Masin, senior director of retail services for Cushman Wakefield in Miami, told The Real Deal.…
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Having the largest mall in North America apparently isn’t enough development for northwest Miami-Dade County, as another mega project has been proposed on a neighboring site. The Graham Cos. wants to build a rental community, a business park including hotels, and – yes – more retail to take advantage of the huge influx of people.…
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5501 Pine Tree Drive in Miami Beach and Nick Di Donato The owners of Cibo Wine Bar will soon list their newly built Miami Beach home for $8.49 million, or $1,633 per square foot. Listing agent Raymond Bolduc Nick and Nadia Di Donato have owned the waterfront property since 2012. They knocked down their house about…
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The office tower at 355 Alhambra Circle in Coral Gables The real estate investing arm of Prudential Financial just paid a whopping $83 million for the 355 Alhambra office tower in downtown Coral Gables. An affiliate of Prudential Real Estate Investors, which has an asset portfolio valued at $62.6 billion, purchased the 16-story tower through…
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An affiliate of Miami-based Rilea Group acquired a site for a transit-oriented development near the Dadeland North Metrorail Station and the Dadeland Mall. FDG Rail Holdings 32 LLC, an affiliate of railway owner Florida East Coast Industries, sold the 2-acre site at the southwest corner of Southwest 70th Avenue and Southwest 85th Street for $13…
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The New York Hilton Midtown at 1335 Sixth Avenue (inset: Christopher Nassetta) From the New York website: Hotel giant Hilton Worldwide Holdings is the latest company to pursue a REIT spinoff of its real estate holdings – an avenue that has become an increasingly popular option for companies looking for tax savings and a boost to…
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Buenos días, South Florida. 1. ‘No-shame’ payday Jarden Corp. founder Martin Franklin is poised to nab $133 million if the purchase of his Boca Raton-based company by Newell Rubbermaid is OK’d by regulators. But in a recent TV interview Franklin said he had “no shame” about the compensation. The possibility of losing another Fortune 500…
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The 355 Alhambra office building in Coral Gables was acquired by an insurance-backed group for $83.08 million, according to county records. CPT 355 Alhambra Circle, part of Boston-based AEW Capital Management, sold the 16-story building to PRII 355 Alhambra Circle, an affiliate of Prudential Real Estate Advisors. The seller was represented by HFF’s Herman Rodriguez,…
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