Miami-based Peleg Group Building bought out the 50 percent interest of its joint venture partner on five retail centers in Florida. President and CEO Ami Peleg said the company, which is also managed by his son Daniel Peleg, now has full ownership of the properties, which are valued at over $40 million. In South Florida,…
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The Hallandale Beach City Commission unanimously approved the 28-story Optima Office North project, not long after the developer acquired the property. Surfside-based Star Holdings Management, managed by Raphael Ammar, and New York-based I & A Miami, managed by Aharon Vaknin, sold the 1.75-acre site, at 1010 S. Federal Highway stretching back along Southeast 10th Street,…
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Tourism bureaus are reporting all-time highs for tourist visitation and spending, and the trend is coaxing up retail rents in South Florida. The flood of new tourists to the region is creating jobs and attracting a growing number of domestic and international brands, and they’re competing heavily for a shrinking inventory of available space. Retail-focused…
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Florida Window and Door will relocate its headquarters, showroom and distribution facilities from Palm Beach Gardens to Lake Worth. The supplier in hurricane-impact resistant windows and doors is renovating and expanding the 18,000-square-foot building at 1125 N. Dixie Highway and plans to move in with 25 employees in October. The company has room there for…
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Exeter Property Group plans to expand a business park in Coral Springs with two additional buildings. The Plymouth Meeting, Pennsylvania-based company acquired two warehouses and four vacant parcels in Coral Springs from Prologis for $24.4 million in February. The vacant land totaled 23.2 acres. Coral Springs officials recently received an application from Exeter for Sawgrass…
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Miami are Fort Lauderdale are the No. 1 and No. 2 retail markets in the U.S. for prospective investors, according to a report by online real estate marketplace Ten-X. The outlook report says employment growth positions the cities as great places to buy up retail assets in the next three years. But good luck getting…
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The Ofizzina 1200 office condo project in Coral Gables secured a $10.5 million construction loan from an offshore entity. Funding Rock Investments, a British Virgin Islands company managed by Greenspoon Marder attorney Manuel L. Crespo, provided the mortgage to Ofizzina 1200 LLC, an affiliate of Miami-based the Solution Group headed by Camilo A. Lopez. The…
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Miami’s Design District has become a magnet for ultra-high-end retail (Credit: Robin Hill) A stable economy and growing rental rates have pushed Miami and Fort Lauderdale to the top in the newest retail market outlook study. The Ten-X report included the top “buy” and “sell” markets for retail real estate properties, including those two South Florida cities.…
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The Two MiamiCentral office building under construction in downtown Miami signed leases with Cisneros ad Moss & Associates to push pre-leasing to 60 percent. Cisneros, a media, entertainment and real estate firm, will occupy 30,000 square feet on the top two floors of the office building after relocating from Coral Gables. The 10-story building will…
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