Pebb Capital, in a partnership with LeaseFlorida, has sold a trophy retail condominium asset on Miami Beach for $17.73 million to California-based Cove Capital Investments. CVS Health (CVS), the largest national pharmacy health care provider and a publicly traded company, is the long-term tenant, which signed a 25.5-year lease in May 2021.
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First Commercial Property To Accept Crypto In Broward County Lists on RealOpen
The first commercial property to accept crypto in Broward County has hit the market for $6.11 million. Located at 3625 W Broward Blvd., the property is also the first commercial property to be listed on RealOpen. RealOpen was founded by the star of Netflix's Selling Sunset, Christine Quinn and Christian Dumontet, and serves to move digital assets directly into real estate.
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Block E In Downtown Miami's Arts & Entertainment District Trades For $19.75 Million
A 37,252-square-foot development site known as Block E at 1550 NE Miami Place in the heart of the Arts and Entertainment District has traded for $19.75 million. The site is located within the boundaries of the opportunity zone and is zoned T6-24a O which allows the developer to build up to seven times the property land square footage and up to 500 units per acre.
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Boynton Beach Office Building Sells For 75% Value Increase In 1 Year
An Atlanta and South African-based buyer, OrbVest US, Inc., recently closed on Congress Executive Center, a 4-story medical and professional building located at 1301 N. Congress Avenue in Boynton Beach, FL. The property, which was 100% occupied, closed on May 12, 2022, for $11 million. The transaction represents a 75% increase in value in just one year.
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BH3 Starts Demolition On Future Site Of Design 38 Mixed-Use Office Development Coming To Miami Design District
BH3 Management has begun demolition to make room for a new nine-story, 90,000-square-foot retail, showroom and office development at 3801 N. Miami Ave designed by renowned architectural firm Sieger Suarez in Miami Design District. Dubbed Design 38, the project is positioned at the southwestern entrance to the Miami Design District.
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Hyatt and Gencom Propose Arquitectonica-Designed Mixed-Use Redevelopment To Activate Downtown Miami Riverfront
Hyatt has teamed up with Miami-based luxury hospitality and residential developer Gencom, with the goal of redeveloping Downtown Miami’s iconic Hyatt Regency Miami, improving access in and out of the urban core, and activating a key piece of Miami’s riverfront. The Hyatt and Gencom venture is proposing a privately funded redevelopment that will comprise a reimagined upscale Hyatt Regency hotel.
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Image via Daniel Zuliani
Formula 1 Hits Miami Design District With Race Week Experiences Open To The Public
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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Owner Of The Versace Mansion Acquires 1930's Era Miami Beach Boutique Hotel For $6 Million
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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Shoma Group Acquires 2.5 Acre Transit-Oriented Site in Coral Gables To Develop Shoma One Mixed-Use Multifamily
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 and Banyan Development Acquire Seven Building Portfolio at the Research Park at Florida Atlantic University® For $37.5 Million
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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