Xebec Realty slashes Miami industrial portfolio in half, sells warehouse for $27M
Xebec Realty Investments is down to one warehouse project in Miami-Dade County after selling a Liberty City industrial property for $26.8 million. Dallas-based Xebec Realty, led by CEO Randy Kendrick, sold a 85,483-square-foot facility built in 2023 at 1010 Northwest 72nd Street, records and real estate database Vizzda show. The buyer is an entity managed…
Tech Company Varonis with 2,400 Employees Moves HQ To Brickell
A technology company listed on the Nasdaq is moving its headquarters to Miami. Varonis signed a lease for 17,900 square feet at 801 Brickell, which will become its new HQ. The SFBJ reported that the office is currently being built out, with move-in scheduled in the third quarter. The company is already listing the Brickell address as its HQ on its website. The company has…
Constellation, Boschetti switch Coral Gables multifamily project to “wellness condos”
Eduardo Otaola and Jose Boschetti are launching sales for Cora, a planned wellness-focused condo project in Coral Gables. Otaola’s Constellation Group and Boschetti’s Boschetti Group are planning the 13-story, 74-unit Cora for 4241 Aurora Street, according to a press release. The building will have 8,000 square feet of ground-floor retail and 13,000 square feet of offices…
Futuristic Office Building 3050 Aventura Designed By Foster + Partners Tops Off
A futuristic office tower designed in the form of two interlocking pyramids has topped off. Architect Foster + Partners is designing the 12-story, 237-foot building, which will have a glass façade. The building is known as 3050 Aventura. It will have three levels of subterranean parking, with 386 spaces. A grand entrance hall is planned on the ground floor, with a ceiling of over 37 feet.
First Permit Approved For 544-Unit Residential Tower Planned In Edgewater
Miami’s Building Department has issued a tree permit for 1775 Biscayne Boulevard, where an apartment tower is planned. A 42-story tower is planned on the property with 544 rental apartments, 10,106 square feet of ground-floor retail, and a 628-space parking garage. The tree permit was approved on February 21. There’s also new activity on a site work permit, master construction…
Site Work Permit Applied For at 57-Story Edge House Property
A site work permit application has been filed for the property where the 57-story Edge House Miami tower is planned. The site work permit application was submitted on February 19. As of this morning, it had not yet progressed to the review phase. Thornton Construction Company, Inc. is listed as the contractor. Edge House is planned to rise 637 feet above ground.
Supertall 81-Story Tower at 1414 Brickell Submitted for Zoning Review in Miami
A zoning application was recently filed with Miami-Dade County for the planned 81-story supertall at 1414 Brickell. Designed by Arquitectonica and developed by 1414 Brickell, LLC, with Walter Defortuna listed among the stakeholders, the mixed-use skyscraper would rise rise 1,010 feet and comprise 560 residential units, 84 hotel rooms, 145,950 square feet of office space…
Domus Brickell Park Tops Out at 12 Stories in West Brickell
Construction has topped out at Domus Brickell Park, a 12-story short-term rental-friendly condominium rising in Miami’s West Brickell district. The project, developed by North Development, reached the milestone in collaboration with general contractor Thornton Construction and exclusive sales broker Cervera Real Estate. Located at 1611 SW 2nd Avenue, Domus…
‘Blu Aventura Apartments’ First Phase Under Construction at 2335 NE Miami Gardens Drive
Our sources have pointed to a mixed-use project currently under construction in Miami-Dade County. Blu Aventura Apartments will comprise two phases. The first phase, which involves the construction of the “west wing”, will feature 23,954 square feet of retail and 350 apartments. Construction is expected to wrap up in next year’s second quarter. Zillow shares that prior…
Block Capital’s Wynwood dev site hits market with $16M asking price
The Miculitzki family’s Block Capital is looking to shed a prime development site at 100 NW 25th Street in Miami’s Wynwood neighborhood. Miami-based Block Capital is listing a 16,866-square-foot retail building that could be redeveloped into a five-to-eight-story mixed-use project. The site has an asking price of $15.5 million, according to an online marketing brochure.
MMG Equity scores approval for 38 townhouses on West Kendall site previously planned for apartments
MMG Equity Partners scored approval for a complex with 38 townhomes and retail in West Kendall, marking a change from its previous plan for apartments. The project, called Coral Nest, will consist of two-story townhomes and 24,500 square feet of retail on a 6.5-acre site on the northwest corner of Southwest 144th Avenue and Coral Way, according to an MMG news release.
70-Story Call 8 Brickell Site Seen Weeks After Scoring Key Approval
A photo taken last night shows the site where the 70-story Calle 8 tower is planned. A gas station is still operating on a portion of the site. Earlier this month, Miami-Dade commissioners voted unanimously to approve a special exception for a general development plan for Calle 8. Zoning review for the new tower by Miami-Dade began in January 2024, while site plan review began…
Wynwood Works Reaches Completion With 120 Units
A ribbon cutting ceremony was held yesterday for Wynwood Works, according to the Omni CRA. Wynwood Works rises 12 stories and includes: 120 apartments 5,698 square feet of ground-floor retail 102 parking spaces in a 5-level garage Units are income restricted, and range from 445 to 774 square feet. To see a video of the completed building…
Developer Buying Site Near Brickell City Centre, 720-Foot Condo Tower Planned
Prosper Group, led by Jay Roberts, has signed an agreement to buy a condo development site near Brickell City Centre. A new 59-story, 720-foot tower is planned, with a luxury brand partner… A joint development partner will also be announced. The purchase includes three sites, including one on the Miami River, and two across the street at 66 SW 6th Street and at 625 SW 1st Avenue.
Jay Roberts, CEO of Miami Beach-based Prosper Group, is in contract to acquire three prime parcels totaling one acre along the Miami River, adjacent to Brickell City Centre. The properties, located at 66 SW 6th Street, 625 SW 1st Avenue, and an additional riverside site, were purchased from 99SW7 Holdings LLC, a joint venture between Newgard Development Group…
Two deals to remake Watson Island face city votes
The transformative sale of a parcel on Watson Island’s north side is on the verge of closing, ushering in luxury residences, 13 acres of public greenspace overlooking Biscayne Bay and millions in community benefits. The Miami City Commission is voting today (2/27) on a major land deal that would reshape Watson Island with a high-end residential project while delivering…
Lease of 51,484 SF Office in Miami’s Waterford District Arranged for Verizon
Blanca Commercial Real Estate (Blanca CRE) has arranged a 51,484-square-foot office lease for Verizon in Miami. Juan Ruiz, Andres del Corral, Jack Davidson, Tere Blanca and Jessy Aguila of Blanca CRE represented the property’s ownership, a joint venture between Nuveen Real Estate and PIMCO Prime Real Estate, which acts on behalf of Allianz insurance companies.
Verizon leases at Waterford Business District after selling its HQ near Doral
Verizon will move its offices to the Waterford Business District near Miami International Airport, after selling its headquarters near Doral. The telecommunications firm leased 51,500 square feet at 5200 Waterford District Drive, where it will move in July of next year, according to a news release from the landlords’ brokers. The deal is the biggest office lease so far this…
1000 Boulevard of the Arts Announced in Sarasota’s Waterfront District
Kolter Urban has announced 1000 Boulevard of the Arts, a 20-story mixed-use development set to bring 117 luxury condominiums and a Hyatt Centric® Harborside hotel to Sarasota’s waterfront district. Located at 1000 Boulevard of the Arts, the project will introduce a blend of upscale residential living and hospitality within the city’s Arts and Culture District.
Self-storage facility owner backed by Easton faces $22M foreclosure
A self-storage facility owner backed by Doral-based Easton Group is in danger of losing a seven-story warehouse in Miami’s Allapattah tied to a $22.1 million mortgage. An affiliate of Uniondale, New York-based Acres Capital filed a foreclosure complaint in Miami-Dade Circuit Court on Tuesday against Howard Pryor, president of Miami-based Forge Real Estate, and two entities he manages.
Construction Underway for Ocean House, a 25-Unit Condominium in Surfside
Multiplan Real Estate Asset Management (REAM) has broken ground on Ocean House, a 25-unit luxury condominium at 9317 Collins Avenue in Surfside. Designed by Arquitectonica with interiors by Carla Guilhem, the boutique oceanfront development is set to rise six stories and offer residences ranging from 2,093 to 6,279 square feet, with pricing starting at $5 million.
Developer Seeks Funding for Second Phase of Flagler Villas at 5350 W. Flagler Street in Miami
Just more than a month after Flagler Villas broke ground in Miami-Dade County, Related Urban Development Group has proposed the venture’s second phase, which would be located a block away. Plans call for 98 one-bedroom and two-bedroom apartments, aimed at seniors earning 30 percent of the area median income (AMI). According to Miami-Dade County records…
Southpointe Vista Phase I Completes Construction in Miami-Dade, Phase II Begins
McDowell Housing Partners (MHP) has completed construction on Southpointe Vista Phase I and secured financing for Phase II, marking the next step in a multi-phase affordable housing development in Miami-Dade County, near Cutler Bay. The project will introduce a total of 332 units across two buildings, providing housing for families and individuals earning at or below 70%…
Supertall 81-Story Brickell Tower Submitted For Zoning Review
A zoning review application has been submitted to Miami-Dade for an 81-story mixed-use tower at 1414 Brickell. According to the February 20 filing, 1414 Brickell is planned to include: 560 residential units 84 hotel units 145,950 square feet of office 6,038 square feet of retail 1,226 parking spaces in an 11-story podium The top of the tower is planned to reach a supertall height…
Weekend Foundation Pour For Downtown 6 Miami Tower with 824 Apartments
A foundation pour was scheduled this past weekend for the 58-story Downtown 6 tower in downtown Miami. A total of 2,400 cubic yards of concrete were planned to be poured beginning at 11 PM on Friday night, according to a social media post by shell contractor L&R Structural Corp. Downtown 6 is being developed by Melo Group, which also built the two 52-story Downtown 5…
Miami Jewish Health plans 192-unit senior living complex in Miami’s Buena Vista
Miami Jewish Health plans a 192-unit independent senior living complex at its existing campus in Miami’s Buena Vista. The project, called FiftyTwoNorth, will consist of a pair of five-story buildings and an 11-story building at 5200 Northeast Second Avenue, all geared to residents who are 62 and older, according to Miami Jewish Health. The nonprofit is partnering with…
The Standard Residences Brickell 10% Sold: New Renderings
The developer of the 45-story The Standard Residences, Brickell has released new details and renderings. Buyer response has been strong, the developer said. There are now 32 reservations executed and 5 more out for signature, marking nearly 10% of the residences spoken for. Plans call for 422 condo units, a 45th floor rooftop lounge, amenities, and a restaurant.
Edgewater dev site in Miami hits market for $32M, as partners abandon plans for mixed-use tower
A group of developers are scrapping plans for a mixed-use tower in Miami’s Edgewater and are listing the site with an asking price of $32 million. Karl-Ulrich Ansorg, Yakov Elbaz, Ofir Gabriel and Amit Kort retained Michael Hinton with Lee & Associates to market the 0.8-acre assemblage at 3350 Biscayne Boulevard and 234-264 Northeast 34th Street, a press release states.
$25.75 Million Sale-Leaseback Transaction Completed in Doral/West Airport Market
Digiacomo Group successfully represented the seller, Sun Belle, LLC, in the $25,750,000 sale-leaseback of 2323 NW 72 Ave, a premier industrial facility located in the highly sought-after Doral/West Airport Market. The 82,261-square-foot coolered facility, situated on a 3.34-acre lot east of Milam Dairy Road, was acquired by Iconic Equities, LLC, a Miami-based real estate…
$25.8M Sale-Leaseback of Cold Storage Facility Near Miami Airport Arranged
Digiacomo Group and JLL have negotiated the $25.8 million sale-leaseback of a cold storage facility located at 2323 N.W. 72nd Ave. in Miami. The seller, produce distributor Sun Belle LLC, will lease back the 82,261-square-foot property from the new owner, locally based Iconic Equities LLC, which specializes in industrial outdoor storage (IOS) and traditional industrial…
IP Capital boosts industrial portfolio, paying $26M for its first Miami cold storage facility
IP Capital Partners boosted its industrial holdings in South Florida, acquiring a cold storage facility near Miami International Airport for $25.7 million. A JLL team led by Cody Brais and Luis Castillo represented Boca Raton-based IP Capital, led by Jason Isaacson and Josh Procacci, in acquiring the 77,607-square-foot warehouse at 2323 Northwest 72nd Avenue…
Vertical Construction Permit Approved for 67-Story JEM Private Residences at Miami Worldcenter
A full vertical permit (Phased Permits – Phased Class I) has been approved for JEM Private Residences at 1016 Northeast 2nd Avenue, also addressed as 175 NE 10 Street, in the 27-acre Miami Worldcenter district. The newly granted permit clears the way for superstructure work on the 67-story mixed-use tower, designed by Arquitectonica and developed by Naftali Group.
CLAUDIE Brings French-Mediterranean Dining to 1101 Brickell in Miami’s Financial District
Florida East Coast Realty (FECR) has announced the opening of CLAUDIE, a French-Mediterranean restaurant by Riviera Dining Group (RDG), at 1101 Brickell. The restaurant occupies 10,000 square feet of indoor and outdoor space on the ground floor of the 300,000-square-foot twin office towers, adding a refined dining experience to Miami’s Financial District.
Miami Beach City Officials Greenlight Hotel Redevelopment at 1500 Collins Avenue in Miami Beach
The City of Miami Beach Planning Board and the Historic Preservation Board have approved the redevelopment of Haddon Hall, a 1940s-era hotel that’s currently operating as Axel Beach Miami-South Beach. The organizations unanimously gave Keyah Real Estate Group’s plans the greenlight for a seven-story, 262-room hotel.
Miami Ranked 2nd Among Top Targets for Commercial Real Estate Investment in 2025, Survey Finds
A recent survey of commercial real estate investors ranked Miami #2 among the most attractive markets for investment for the second consecutive year, according to CBRE’s 2025 U.S. Investor Intentions Survey. Investors are strategically focusing on gateway markets offering discounts and high-growth Sun Belt markets. Miami ranked just behind Dallas, which maintains…
Retail Space Sells for $2.4M at The Rider Residences in Miami’s Midtown-Wynwood Corridor
Miami-based developers Rilea Group and Ciprés have closed on a $2.4 million sale for a 1,704-square-foot retail space at The Rider Residences, a 12-story, 146-unit condominium planned at 94 NE 29th Street at the intersection of Midtown and Wynwood. The sale price equates to $407 per square foot, marking the second-highest retail sale price per square foot in the area…
Terra Breaks Ground on Upland Park in West Miami-Dade, A $1 Billion Transit-Oriented Development
Terra has officially broken ground on Upland Park, a $1 billion mixed-use community that will transform the Dolphin Park-and-Ride Transit Terminal Facility into a 47-acre, transit-oriented development. Conceived in partnership with Miami-Dade County, the project will bolster public transit ridership while anchoring the new East-West Corridor of the County’s SMART…
Miami-Based Developer Proposes Complex with Workforce Housing at 8445 S.W. 94th Street in Kendall
A Miami-based developer has filed a pre-application for a multi-family housing community in Kendall. 8445 Galloway LLC wants to proceed with a six-story apartment building, requiring 53,218 square feet of new construction. Current plans call for 41 residences—10 of which would be designated as workforce housing. According to Miami-Dade County records, a family of four…
Development district to finance Freedom Park improvements
The 58-acre public park promised in the Miami Freedom Park project will be backed by a dedicated fund and district, securing its maintenance, while officials are also committing $10 million in future funding to improve parks across the city. During the Feb. 13 meeting, the Miami City Commission approved two resolutions to secure funding for the maintenance…
Noguchi-designed fountain flows again, but higher, in Bayfront Park
Water is once again flowing through the newly renovated fountain at Bayfront Park, where its historic design meets modern enhancements. City officials gathered at Bayfront Park last week for an evening ribbon-cutting ceremony as the sunset and the Mildred and Claude Pepper Fountain’s vibrant, colorful display took centerstage. After decades of disuse, the iconic downtown…
Shoreline Review Application Submitted for 39-Story ‘Isle of Dreams’ at 1400 79th Street Causeway
A shoreline development review application has been submitted for Isle of Dreams, a 39-story mixed-use tower planned at 1400 79th Street Causeway in North Bay Village. Developed by Sunbeam 1400, LLC, an affiliate of Sunbeam Television, and designed by Arquitectonica, the project marks the first phase of the Sunbeam NBV Special Area Plan (SAP), which was approved in 2022.
Lease roundup: Monarch, Tourmaline score Eastdil, Varonis and other office tenants in Brickell
Monarch Alternative Capital and Tourmaline Capital Partners scored five new leases and two renewals at their Brickell office tower. In the biggest deal, New York-based cybersecurity firm Varonis leased 17,900 square feet at the 28-story building at 801 Brickell Avenue, according to a news release from the landlords’ broker. Also, investment manager Fengate Capital…
Walton Street Capital and Lincoln Property Company are gunning for Broward County industrial sites, paying $43.7 million for a Weston warehouse four months after acquiring a Sunrise facility for nearly $19 million. Chicago-based Walton Street, led by Eric Mogentale and Jeffrey Quicksilver, and Dallas-based Lincoln Property, led by Clay Duvall and David Binswanger…
Kimco wants to replace movie theater with sporting goods store at Oakwood Plaza in Hollywood
Kimco Realty plans to replace a movie theater at its aging Hollywood shopping center with a 120,000-square-foot Dick’s Sporting Goods store. It would be the first phase of Kimco’s planned long-term redevelopment of the Oakwood Plaza just east of I-95 between Sheridan Street and Stirling Road. Kimco, a Jericho, New York-based real estate investment trust, is seeking approval…
Hallandale Beach’s Planning and Zoning Board (PZB) intends to review a proposal that would replace a trailer park with a mixed-use venture. Seville General Partners, which owns the 8.5-acre property that currently hosts the Seville Mobile Home Park, is seeking a rezoning change that would allow residences and retail and office space. Civil engineer Kimley-Horn has created…
A developer planning a medical office building in Hallandale Beach was hit with a $5.8 million foreclosure suit on the site. The case comes as debt woes, including foreclosures and bankruptcies, continue in South Florida amid elevated interest rates, skyrocketing insurance, an office and apartment leasing slowdown and other economic headwinds.
A developer could replace the Seville Mobile Home Park in Hallandale Beach with a 750-unit mixed-use, multifamily project, amid a surge in the redevelopment of South Florida mobile home communities. Seville General Partners, led by Paul Rosen, is asking for a rezoning of the 7-acre site at 426 Northeast Fifth Street and 515 North Federal Highway that would allow for six mid-rise…
A local developer is seeking $6 million in incentives from the Fort Lauderdale Community Redevelopment Agency (CRA) to support a mixed-use development in the Historic Sistrunk neighborhood. The proposal, part of the CRA’s Development Incentive Program, aims to stimulate economic growth in the historically Black community located just west of Flagler Village.
Related lists Fort Lauderdale apartment tower for $230M
Related Group is ready to sell a recently completed apartment tower in downtown Fort Lauderdale, asking nine figures. The Coconut Grove-based development firm, led by Jorge Pérez and his sons Jon Paul and Nicholas Pérez, is listing Veneto Las Olas at 201 South Federal Highway with an asking price of $230 million, said CBRE’s Robert Given.
DWS Sells Fort Lauderdale Office Tower for $220M
The office building at 401 E. Las Olas Blvd. rises 23 stories in Fort Lauderdale, Fla.’s financial district. Image courtesy of Square2 Capital The partnership of Highline Real Estate Capital, Square2 Capital and Lone Star Funds has acquired 401 E. Las Olas Blvd. in Fort Lauderdale, Fla.’s financial district. CBRE represented the seller of the 410,561-square-foot office…
Pompano Beach Porsche dealership scores $52M construction loan for new showroom and offices
Champion Porsche is fueling up construction of its new Pompano Beach home after nabbing a $52 million loan. Wells Fargo Bank provided the financing to the luxury car dealership’s owner, Copans Motors, led by Mitra Maraj, records show. Copans’ general contractor, Fort Lauderdale-based Stiles Corporation, recently broke ground on the planned two-story building…
Related Ross Seeks Rezoning for Mixed-Use Development at K Park Site in Wellington
A rezoning application is moving forward for a 66.3-acre site in Wellington, where Related Ross, led by billionaire developer and Miami Dolphins owner Stephen M. Ross, plans to develop a large-scale mixed-use project. The site, K Park, is located at 10400 Stribling Way and is currently designated for community facilities and commercial uses. The Village of Wellington’s Planning…
The State of the Office Market in 2025: Trends, Challenges, and Opportunities The office real estate sector continues to evolve in the wake of economic shifts, interest rate fluctuations, and changing workplace dynamics. Recently, America’s Commercial Real Estate Show, welcomed Phil Mobley, National Director of Office Analytics at CoStar, to discuss the current state of the office market…
Climate Change Definitions & Progress – A New Climate Series for CRE Professionals
Last Week, J.P. Morgan launched a new climate series, called Climate Intuition. The initial piece, “Navigating the new climate era: Building intuition for strategic decision-making,” provides a baseline with definitions of common climate terms and how they’re connected to economic and business activity. It’s written by climate scientist Dr. Sarah Kapnick who returned…
Construction Contractor Perspectives In the Age of Tariff Threats
Following up on our General Contractor Survey it’s a tale of apprehensive optimism. To begin on a positive note, 54% of our 13 surveyed general contractors anticipate that in 2025 they will have more work than in 2024. Only one of the 13 said they would have less work. I read a couple of insights into this statistic. First, for contractors, 2024 was a slower year than anticipated…
CMBS Troubled Loan Tracker: A Calm Start to 2025 After a Tough 2024
Summary Over the second half of 2024, several challenges for commercial mortgage-backed securities (CMBS) borrowers manifested in delinquency rates that ticked up persistently month-over-month. The predominant headwinds continued to be high interest rates, significant maturities, slowing growth in property revenues, and a grueling, slow recovery for the office sector.
Video: Density CEO Andrew Farah Discusses Measuring Utilization in Government Buildings
Analyzing the Future of Federal Real Estate The federal government is one of the largest users of commercial real estate in the United States, with a vast portfolio managed largely by the General Services Administration (GSA). On a recent episode of America’s Commercial Real Estate Show, the show’s host sat down with Andrew Farah, co-founder and CEO of Density…
Prologis Says Warehouse Leasing Rises After U.S. Election Eases Uncertainty
The world’s largest industrial developer and landlord said a burst of leasing since the U.S. November election has bolstered the company’s expectations for accelerating warehouse demand this year. Prologis signed a company record of more than 60 million square feet of leases in the fourth quarter, with most of the deals signed in the weeks after the Nov. 5 election reduced…
For Some CRE Owners, Insurance Now Gobbles Up Double the Revenue
Since around 2018, property insurance costs began a steady march upward, almost universally across commercial real estate (CRE), broadly forcing property owners and lenders to strategically confront the reality of soaring premiums and shrinking availability. But much of CRE has also enjoyed significant rent growth, which has seemingly muted the overall impact to bottom line…
Florida Rep. Vicki Lopez filed a bill that would limit the state’s insurer of last resort, Citizens Property Insurance, to condo associations that are abiding by safety laws passed after the deadly Surfside collapse. House Bill 913, filed by Lopez, a Republican whose district includes Key Biscayne, takes aim at other aspects of the state Condo Act, including seeking to impose…
The post Miami Commercial Real Estate News February 26, 2025: Wynwood, Edgewater Dev Sites Hits Market for $16M, $32M, Respectively; Developer Buying Near Brickell City Centre for 720-Foot Tower; More… appeared first on Hawkins Commercial Realty.
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