Amazon is Looking For a New City for Amazon HQ2 And Miami Is In The Running

Amazon is looking to invest $5 billion and add 50,000 new jobs over the next 20 years as they have their sights set on building Amazon HQ2. One major metropolitan city is going to get the business and it just so happens that Miami is in the Top 10. Amazon is looking for a city that has over 1 million residents and is located in North America, mainly the United States. Cities are currently now organized bid packages to present to the Amazon RFP. Amazon is also looking to build on a development site that will allow them to build a 3 phase office park style development or retrofit an existing building as long as it fits their criteria. Miami is an attractive city as it features a high quality of life, strong infrastructure growth, a growing educated workforce, strong job growth, etc. Quality of life has become a major factor when choosing a new headquarter location as both housing cost, livability and amenities play a major roll in a firm's ability to attract top-end talent. It has been reported that even those who command six figure salaries in the current tech hub of Silicon Valley and San Francisco are looking to leave the the bay area in search of a lower cost of living without sacrificing their quality of life. Miami has the low pricing when compared with other major cities without sacrificing the quality of life and the city features all of the amenities that highly paid and educated employees seek including top-tier restaurants, recreation and culture. The low cost with a high quality of life in Miami would make it easy for Amazon to attract top-end talent. Some factors that hurt Miami is the lack of public transportation and traffic congestion.

Optimum Group Hosts Groundbreaking Ceremony for “The Optimum,” Their New Coconut Grove Office Tower

Optimum Group, a global real estate investor and leading developer, hosted a formal groundbreaking ceremony and champagne reception to celebrate the construction commencement of The Optimum, a new class A office tower in Coconut Grove. Mayor Tomás Pedro Regalado spoke briefly on Coconut Grove’s rich history and Optimum’s commitment to enhance the neighborhood’s revitalization as well as company’s ongoing contribution to evolve South Florida communities and growing businesses.

“As the first new Class A office building in over 25 years that fulfills the much-needed commercial and retail component in ‎the center of one of Miami’s most historic community, ‘The Optimum’ is our response for those who are looking to live, work and play in the neighborhood,” said Ricardo Tabet, ceo of Optimum Group. “The space will not only complement The Groves’ lush landscaping and understated aesthetic, but will contribute to the neighborhood’s electrifying renaissance.”

The Optimum is a 5-story, class A office tower in the heart of the Grove. The Optimum is being designed by Arquitectonica, who took cues from Coconut Grove lush folliage including raking the buildings’ facades in natural cement and wood to blend seamlessly into Coconut Grove. The development will entail 44,000 SF of office space and 6,500 SF of ground floor restaurant space which is expected to feature a high-end restaurant along with a rooftop lounge that offers dramatic, panoramic views of Biscayne Bay. Optimum Development USA paid $8.5 million for the assemblage in 2014 and has since taken a $21.5 million loan on the property. The Optimum is located at 3480 Main Highway in Coconut Grove and is expected to be completed by 2018 with occupancy in just 16 months. 

Francisco Suarez, Ricardo Tabet, Mayor Tomas Regalado & Wilfredo Gort

Charles Khabouth, Danny Soberano, Francisco Suarez, Raquel Regalado, Wilfredo Gort, Ricardo Tabet, & Mayor Tomas Regalado

Ricardo Tabet

Francis Suarez, Raquel Regalado, Wilfredo Gort, Ricardo Tabet, Mayor Tomas Regalado, Anna Caruso, & Igor Jozsa

How Developers Are Pushing Upscale Office Space to The Next Level With Standard Residential Amenities

As the demand for office developments through the United States continues to grow, some South Florida developers are pushing office space to the next level and bringing an upscale twist with standard residential features and amenities. In order to stand apart from the competition, some developers have mixed in modern luxuries such as open floor-plans, floor-to-ceiling windows, lush green spaces and diverse residential style amenities. 

Forum Aventura

Forum Aventura is an office-condo developed by Miami-based CK Privé Group. The project put an emphasis on lifestyle elements including a landscaped rooftop with bar area, 14' ceilings, upscale artwork and communal lounges to promote creativity, community and productivity. Construction on Forum Aventura has recently topped off and will be ready for move-in in Q2 of 2018.

Forum Aventura

Other examples of developers using amenities to enhance their office space includes Foram Group's 600 Brickell, which features  30,00 SF of landscaped space, private fitness center, on-site management, valet dry cleaners. In Downtown/ Edgewater, Terra's Quantum Executive Offices, located in Quantum on The Bay, features valet parking, a terrace with bay views and full kitchens.

600 Brickell

Construction Update: The Optimum, Coconut Grove's New Arquitectonica Designed Office Development Breaks Ground

Optimum Development USA celebrated the ground-breaking and start of construction of The Optimum, a 5-story, class A office tower in the heart of the Grove. The Optimum is being developed by Optimum Development USA, led by Ricardo Tabet, and was designed by Arquitectonica. The development will entail 44,000 SF of office space and 6,500 SF of ground floor restaurant space which is expected to feature a high-end restaurant along with a rooftop lounge that offers dramatic, panoramic views of Biscayne Bay. Optimum Development USA paid $8.5 million for the assemblage in 2014 and has since taken a $21.5 million loan on the property. The Optimum is located at 3480 Main Highway in Coconut Grove and is expected to be completed in 12 to 14 months. 

Triptych Hotel Approved in Midtown

Triptych Hotel has been approved under the Miami 21 Zoning Code after submitting revisions to their original plans and scaling back the project. New plans show the project to rise 20 stories featuring 252 hotel rooms, 300 parking spaces, 38,000 SF of retail and 41,000 SF of office space. The hotel will be operated as a Hilton Curio Hotel. The hotel will be among the first in Midtown and will join HYDE Midtown when completed as the main hospitality options between Midtown and Design District. Triptych Hotel is being developed by HES Group and JQ Group. 

Construction Update: Three MiamiCentral, MiamiCentral's First Office Building, to Open by End of Summer

Three MiamiCentral, the first building to open as part of the 11-acre, mixed-use MiamiCentral initiative by Florida East Coast Industries in Downtown Miami, is expected to open by the end of the summer (2017). The second office building, Two MiamiCentral, is expected to open in the fall (2017). Three MiamiCentral features 90,000 SF of rentable Class A Office Space, 35,000 SF of rentable ground level retail space and is adjacent to the MiamiCentral transit station. Two MiamiCentral will feature 190,000 SF of Class A Office Space with tenants including Ernst & Young, Cisneros, Moss & Associates, Venevision International Enterprises, Fortress Investment Group, Florida EAst Coast Industries and Regus. Rental rates at Two MiamiCentral are around $33 to $35 SF triple net; and $29 per square foot at Three MiamiCentral. MiamiCentral will feature All Aboard Florida's Brightline station for rail service connecting Fort Lauderdale, Palm Beach and Orlando. 

Fort Lauderdale Approves FATCity in FATVillage

Fort Lauderdale city commissioners unanimously approved FATCity, Flager Arts and Technology City in FATVillage. The mixed-use project is being developed by Triana Cos will total 1.35 million SF within 2, 30 story towers designed by Adache Group Architects. FATcity will feature retail, 270,000 SF of office space, hospitality, 612 residential units and 1,300 parking spaces. FATCity is expected to break ground around the end of 2018.