Image via Daniel Zuliani
The inaugural Formula 1 Miami Grand Prix take's place Sunday May 8 and Miami is alive for its first ever race week. Miami Design District has been transformed into a petrolhead heaven as the neighborhood has revealed a series of events, activations and one-of-a-kind experiences open to public for Formula 1 weekend.
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The Nakash family, owner of several Art Deco hotels and South Beach’s former Versace Mansion, has acquired a 1930’s era boutique hotel located at 1350 Collins Ave. in Miami Beach. Renowned architect Wallace Tutt, who designed the Versace Mansion a few blocks away, also designed the building’s three villas.
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Miami-based developer Shoma Group has announced its latest acquisition, a 2.5-acre site at 3650 Bird Road, currently home to Deel Volvo, near Coral Gables for $34 million. It will be the site of Shoma One, a mixed-use project with a 391-unit apartment community and a Shoma Bazaar food hall. The development is expected to cost $220 million to build.
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PEBB Enterprises and joint venture partner Banyan Development closed another major office acquisition in the companies’ home base of Boca Raton. The venture paid $37.5 million for a long-term ground leasehold interest position in the Research Park at Florida Atlantic University®, consisting of a portfolio of seven multi-tenant office buildings totaling 308,305 SF.
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Sixteen years after its founding, the nation’s largest women’s shelter is embarking on an ambitious expansion plan that will extend its reach deeper into the Miami community to better serve children and youth. Lotus House, a nonprofit shelter in Miami’s historic Overtown district, is growing its suite of supportive services with the creation of a “Children’s Village”.
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Miami-based Limestone Asset Management has acquired the flagship South-of-Fifth property which is home to PLANTA in Miami Beach for $12 million. The 7,835 SF building was completed in 2018 as the first built-to-suit and the first PLANTA in the state of Florida and sits on a 9,148-square-foot (0.21-acre) lot. The property is located at 850 Commerce Street, Miami Beach.
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Image via Kris Tamburello Studios
Major Food Group (MFG), the globally acclaimed hospitality brand that has taken Miami’s restaurant scene by storm, has opened its first-ever project in Brickell, Dirty French Steakhouse, a glamorous, energetic, and extraordinary interpretation of the classic steakhouse. Located at 1200 Brickell Avenue, the restaurant welcomes guests beginning April 29th.
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Merrick Manor continues to generate strong interest from investors seeking Class A commercial real estate in Coral Gables. The luxury mixed-use building developed by the Henry Torres-led Astor Companies, has sold out the commercial spaces following the $5.44 million sale of several retail condominiums, including two units occupied by popular fitness studio Sweat 440.
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Okan Tower, which is set to become one of the tallest towers in Downtown Miami, has unveiled its exclusive Loft Penthouse Collection. Rising 902’ in the air, the 70-story project’s highly-anticipated Loft Penthouse Collection consists of 14 impressive residences soaring above downtown Miami at the building’s peak.
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Cushman & Wakefield has announced that the commercial real estate services firm has arranged a new long-term office lease of approximately 20,000 square feet at 701 Brickell for Aon Insurance Company. The company will occupy the 32nd floor of the office building, which is located in Miami's Brickell financial and tech neighborhood.
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