An affiliate of Swire Properties acquired a site a block west of its massive Brickell City Centre project in Miami, a potential signal that it wants to expand its development plans. The first phase of the $1.05 billion, 5.4 million-square-foot Brickell City Centre should be completed in early 2017. Hong Kong-based Swire already holds the…
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Rendering of China City Construction’s project at 6747-6757 Collins Avenue (in center) 1. China City residential tower is challenged in court [The Next Miami]3. Wynwood’s alcohol permits running dry [Miami Today]3. Court fight stalls plans for Fort Lauderdale water park [Sun Sentinel]4. Craig Menin picks up waterfront Palm Beach manse for $25M [Palm Beach Daily…
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Colliers International South Florida recruited two top-performing brokers from rival firms to start a division focused on commercial real estate in the region’s urban centers. Marika ‘Mika’ Mattingly and Gerard Yetming join Colliers from Sterling Equity Realty and CBRE, respectively. Mattingly worked with investor Moishe Mana on the acquisition of dozens of properties along East…
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A report by CoreLogic found that South Florida has the most properties in the nation at risk of storm surge. The study is a reminder that property owners and businesses should prepared for hurricane season, which starts today and runs through Nov. 30. The region’s building boom, largely in coastal areas, has placed more buildings…
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Miami-Dade County could sell a 48.9-acre site near Homestead to a developer for to build a new FedEx package distribution facility that would create jobs. The Miami-Dade County Commission will vote on June 7 whether to sell the property at the southwest corner of Southwest 127th Avenue and Southwest 272nd Street for $4.45 million to…
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North Broward Preparatory School sold its Coconut Creek campus to a public real estate investment trust for $68.61 million. The private boarding school, a subsidiary of Hong Kong-based Nord Anglia Education, sold the 80-acre campus at 7600 Lyons Road to a subsidiary of New York-based W.P. Carey named BMOC-MIA (FL) LLC. The buyer is a…
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Terranova sold the Suniland Shopping Center in Pinecrest for $66.5 million to a real estate investment trust. Suniland Associates Ltd., an affiliate of Miami Beach-based Terranova, sold the property at 11325, 11401, 11415 S. Dixie Highway to DPF Suniland LLC, an affiliate of Denver-based Dividend Capital Diversified Property Fund. It has 82,000 square feet of…
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The developers of the $1.5 billion Metropica mixed-use project in Sunrise secured another big financial commitment as construction moves forward. Metropica Holdings, headed by Joseph Kavana of KGH International Development, secured a $22 million loan from BRBB LLC, a subsidiary of Aventura-based Nuverse Advisors. This will fund the second phase of infrastructure work on the…
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Lauderdale Marketplace was sold to a local investor for $27 million The 265,000-square-foot shopping center at 2900 to 3784 N. State Road 7 in Lauderdale Lakes was acquired by an affiliate of Pompano Beach-based Exclusive Management and Properties, led by Meir Benzaken. Berger Commercial Realty President Lloyd Berger and Senior VP Joe Byrnes represented the…
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