The Boston-based Taurus Investment Holdings has acquired the Civica Center for $30.5 million in Miami’s hot Allapattah neighborhood. The Civica Center is located at 1050 NW 14th Street at the entrance to Miami’s Health District, which is home to a large concentration of medical firms and institutions including the University of Miami Leonard Miller School of Medicine.
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The Estate Companies Acquires Former Ramada Hotel in Hialeah for $15.25 Million
The Estate Companies (EIG), a leading developer of luxury multi-family projects throughout South Florida, has announced the $15.25 million acquisition of a five-acre site occupied by a former Ramada Hotel at 1950 W. 49th St. in Hialeah. The closing took place August 7th with $11.5 million in financing arranged by LV Lending, a local private lender.
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Swire Properties Sells Two Brickell City Centre Office Buildings For $163 Million Amid Pandemic
Swire Properties has sold Two Brickell City Centre and Three Brickell City Centre for a combined $163 million, $630 per square foot, amid the COVID-19 pandemic. Each Class A Office building is roughly 130,000 square feet with the pricing broken down by $80.3 million for Two Brickell City Centre and Three Brickell City Centre sold for $82.7 million.
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Neiman Marcus To Close Worth Avenue Location After Filing Chapter 11 Bankruptcy
COVID-19 continues to shake the commercial real estate industry, especially when it comes to retail. The Dallas-based Neiman Marcus Group has announced that they will be will be closing their Worth Avenue location in Palm Beach amid the luxury retailer’s Chapter 11 Bankruptcy Protection Proceedings.
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Owner of Bâoli, Massa Investment Group, Acquires Miami Beach's Paris Theater For $13 Million
Massa Investment Group has acquired Miami Beach’s Paris Theater, located at 550 Washington Ave., for $13 million; $508 per square foot. The Art Deco building, which was first built in 1935, spans 25,589 SF. The building was designed by architect Henry Hohauser and has operated over time as a cinema, adult movie house, nightclub and film studio.
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NNN Leased Pollo Tropical Building on Biscayne Blvd. in MiMo Trades For 4.61% CA
A NNN leased Pollo Tropical stand-alone restaurant building located on Biscayne Blvd/ US-1 in Miami’s MiMo district, has traded for $2.275 million, equating to a 4.61% CAP rate. The 1,754 SF restaurant building sits on a 12,800 SF lot located at 7501 Biscayne Blvd in Miami, FL.
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One Of The Last Development Sites On Downtown Fort Lauderdale's Federal Highway Corridor Is Asking $12.5 Million
One of the last development sites on downtown Fort Lauderdale’s Federal Highway corridor has hit the market asking $12.5 million. Located at 150 N. Federal Hwy., the property is being marketed for sale by Native Realty, the Fort Lauderdale-based commercial brokerage led by founder and CEO Jaime Sturgis.
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Amazon To Build Largest Distribution Center in South Florida After Scoring Approval From Miami-Dade County
Miami-Dade commissioners have voted unanimously to sell a vacant lot located at 13200 Southwest 272nd Street near the Homestead Air Reserve Base in South Miami-Dade County to Amazon for $22,056,853, clearing the way for Amazon to build a new distribution center to service South Florida.
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Former Top Silverstein Exec Launches Hyperion, A New Investment And Development Firm
Rob Vecsler, a former Silverstein Properties executive, has announced that after leaving Silverstein he is re-launching Hyperion Group, a South Florida and New York based real estate investment and development firm. Rob Vecsler spent the past six years at Silverstein Properties in New York, where he served as President of Residential Development and Head of Acquisitions
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Goddard Investment Group Moves To Evict WeWork From South of Fifth Location
WeWork’s landlord at 429 Lenox Avenue, Goddard Investment Group, has moved to evict WeWork from their South of Fifth location at 429 Lenox Avenue in South Beach. The 43,500 SF building is fully leased by WeWork who skipped out on rent payments for April, May and June.
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