The Real Deal Miami

  • UPS picks up Miami development site for distribution warehouse: $31M

    Prologis affiliate bought the land as part of a bigger deal in 2003 for $7.3M
    July 25, 2016 09:51AM By Katherine Kallergis
    Warehouse (Credit: Creative Commons user CTsabre14)

    Warehouse (Credit: Creative Commons user CTsabre14)

    Prologis has sold a 43-acre development site west of Miami International Airport to UPS for $31 million. [more]

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  • this-magnificent-estate-in-great-neck-long-island-boasts-13-bedrooms-35-bathrooms-indoor-and-outdoor-pools-health-complexes-game-rooms-a-bowling-alley-and-a-casino

    A $100 million mansion on Long Island

    It’s no secret that real estate isn’t cheap anywhere these days, but these palatial homes give expensive a whole new definition.  [more]

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  • Most popular on The Real Deal

    July 25, 2016 07:30AM

    Current reader favorites:

    1. While Miami struggles, Broward County’s housing market is looking steady
    2. Related Group sells luxury apartments in Delray Beach: $62.4M
    3. Initiative to cap building heights in Miami Beach hits snag
    4. Retail-driven developments aim to revitalize South Miami
    5. Two penthouses under contract at upcoming Oceana Bal Harbour: $52M

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  • Investors buying homes in low-income section of Naples

    The investors are buying in River Park, where most African Americans in Naples reside
    July 24, 2016 04:00PM TRD WEEKEND EDITION
    River Park home listed for sale

    River Park home listed for sale

    A New York investment group has bought a dozen properties in the River Park area of Naples, raising concern that residents of the low-income neighborhood will have to look elsewhere for affordable housing.

    Jonathan Shectman manages private hedge funds that have spent $8.2 million to buy 12 River Park properties, including nine single-family homes, two commercial lots, and an apartment complex with 96 units. [more]

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  • Inside therealdeal.com

  • Gunster hires prominent land-use attorney

    Orlando-based Allison Turnbull previously worked for Holland & Knight
    July 24, 2016 03:00PM TRD WEEKEND EDITION
    Allison Turnbull

    Allison Turnbull

    The West Palm Beach-based Gunster law firm hired prominent land-use attorney Allison Turnbull in Orlando from Holland & Knight. Gunster entered the Orlando market in 2013 and opened a five-attorney office in Winter Park last year.

    Turnbull, a native of Winter Park, told the Orlando Sentinel that “growing in Orlando is a big focus for Gunster now.” Last December, Turnbull represented the seller in Comcast’s $130 million purchase of 475 acres near its Universal Orlando theme park. [Orlando Sentinel] Mike Seemuth

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  • Seasonal algae outbreaks defy easy solutions

    Governor Rick Scott wants to switch all homes along Lake Okeechobee to sewers from septic tanks
    July 24, 2016 03:00PM
    Algae spreading in the St. Lucie River (Source: Miami Herald)

    Algae spreading in the St. Lucie River (Source: Miami Herald)

    No easy solutions exist for summertime algae outbreaks that suck oxygen out of two Florida rivers and cover parts of them with rancid green slime – a man-made problem that dates back more than a century.

    Business interests drained much of the Everglades for development from the late 1800s into the 1900s with government acquiescence. Water that once naturally flowed south from Lake Okeechobee into the Everglades now flows via manmade diversions westward to the Caloosahatchee River and eastward to the St. Lucie River.

    Development along the lake has brought phosphorous- and nitrogen-laced human waste, animal waste and fertilizer to its shoreline, and when seasonally heavy rains wash these pollutants into the lake, algae feed on them and reproduce rapidly. [more]

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  • McCraney details spec industrial project in Plant City

    The West Palm Beach firm is advancing a 1.3 million development on a 70-acre strawberry field
    July 24, 2016 01:00PM TRD WEEKEND EDITION
    Rendering of County Line Logistics Center at Fancy Farms

    Rendering of County Line Logistics Center at Fancy Farms

    West Palm Beach-based McCraney Property Company announced details of a spec industrial property that would span 1.3 million square feet near Interstate 4 in Plant City.

    The location is near a cluster of existing distribution centers operated by Amazon, Publix Super Markets, O’Reilly Auto Parks, and Miami-based Southern Wine & Spirits. [more]

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  • New boutique resort in Sarasota is a motel makeover

    Extensive renovation turned the old Elephant Ears Suites into the new Siesta Key Palms Resort
    July 24, 2016 12:00PM TRD WEEKEND EDITION
    Siesta Key Palms Resort (Credit: Mike Lang| Sarasota Herald-Tribune)

    Siesta Key Palms Resort (Credit: Mike Lang| Sarasota Herald-Tribune)

    Renovation and refurbishment has transformed a 1950s-vintage, drive-up motel in Sarasota to a modern boutique resort with an Old Florida feel.

    Developer Henry Rodriguez bought property in spring for $2 million. It is located at 1800 Stickney Point Road in Sarasota, just east of a bridge to Siesta Key.

    Rodriguez has finished an $800,000 upgrade of the cluster of three buildings and 21 rooms with two swimming pools formerly [more]

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  • St. Pete plans for stadium’s uncertain future

    The Tampa Bay Rays baseball team may pick a different location for home games
    July 24, 2016 11:00AM TRD WEEKEND EDITION
    Tropicana Field in St. Petersburg

    Tropicana Field in St. Petersburg

    HKS Architects in September will deliver to the City of St. Petersburg alternative master plans for development of an 85-acre site, one that includes – and another that excludes — the home field of Major League Baseball’s Tampa Bay Rays.

    The Tampa Bay Rays team is considering alternatives to its home field at Tropicana Field, also known as the Trop, an enclosed ball park with a bubble-top roof near Interstate 275 in St. Petersburg.

    The enclosed stadium has been the home field of the Rays since their inception in 1989. In January, St. Petersburg Mayor Rick Kriseman gave his approval to a plan permitting the Rays to shop for another stadium location inside or outside the city. [more]

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  • Margaritaville Holdings hires development director

    Andrew Steel has worked for The Related Group, Carlton Group and Faison Associates
    July 24, 2016 10:00AM TRD WEEKEND EDITION
    Andrew Steel

    Andrew Steel

    Andrew Steel, whose resume includes stops at The Related Group and Carlton Group, has joined Margaritaville Holdings, LLC, as the company’s new director of development.

    “Andrew’s background, combined with his ability to establish positive relationships with potential partners and investment groups, make him an invaluable asset to our team,” John [more]

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