An office building in South Miami was acquired for $9.86 million and should soon undergo renovations. ISM Properties, formerly known as Market Properties, managed by Arie Market in Israel, sold the 60,928-square-foot office building to 7800 Red Road LLC. The buyer, an affiliate of South Miami-based Market Street Real Estate led by Allan Serviansky, obtained…
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Cypress Financial Center in Fort Lauderdale As vacancies continue to drop in South Florida’s real estate markets, landlords are inking noteworthy deals seemingly every week. Check out a roundup of some of the region’s biggest leases after the jump. Airport North Logistics Park Phase One Neutralogistics Neutralogistics, a rapidly growing freight management company, is the…
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Miami Beach officials will consider two significant development proposals, a mixed-use building by Turnberry Associates and a new hotel. Both items will go before the city’s Planning Board on April 19. Aventura-based Turnberry Associates, the developer of the Aventura Mall headed by the Soffer family, had its affiliate 1681 Ventures LLC submit an application to…
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Business groups ranging from the Alabama Restaurant & Hospitality Alliance to the Western Suppliers Association have sent a letter to Congress urging it to block the Department of Labor’s proposed rule expanding overtime pay. In all, 240 organizations signed the letter in support of the Protecting Workplace Advancement and Opportunity Act. The bill would force…
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Former Cushman & Wakefield commercial brokers Jon Blunk, Laurel Oswald and Cristina Glaria have left the firm to form their own company. Miami-based Tower Commercial Real Estate already manages a 3 million-square-foot portfolio of Class A office space. In the past year, this team closed 71 transactions, including 560,000 square feet of leases with a…
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Cushman & Wakefield has acquired Gibson Realty, one of the largest commercial property management firms in South Florida. Led by founder and Principal O. Ford Gibson, the Miami-based company currently manages more than 4.1 million square feet of office, industrial and flex space in the region. That portfolio is expected to expand to 5.3 million…
DetailsAt least five Smashburger restaurants are planned for Broward County over the next four years through a franchise agreement with PCM Food Services LLC. PCM is owned by Jerry Davis, who also owns a Hampton Inn franchise and PeakCM LLC, a commercial construction management company, the Sun Sentinel reports. The new restaurants are part of…
DetailsThe ground lease on the Lincoln Building, just steps away from Lincoln Road on South Beach, sold for $109.25 million. The ground lease on the 1.76-acre site was sold by 1691 Michigan Ave Investment, an affiliate of American Fund US Investments and HQ Capital Real Estate, to CLPF – Lincoln LLC, an affiliate of real…
DetailsZaha Hadid’s design for Collins Park Place Zaha Hadid’s design of a garage and public plaza in Miami Beach will not be realized after city commissioners rejected the plans for a final time on Wednesday. Aerial of Hadid’s design Hadid, who died unexpectedly on March 31 in Miami Beach, had been involved with the project…
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