The Real Deal Miami

  • A.G. Holley State Hospital deal stuck in limbo

    The $15 million sale still hasn't closed
    July 28, 2014 05:15PM
    A.G. Holley State Hospital

    A.G. Holley State Hospital

    A 70-acre site on Lantana Road has long been considered “prime” because of its size and proximity to I-95. [more]

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  • Some 4,000 coastal condo units to rise in Broward

    That figure has doubled from last year, new data shows
    July 28, 2014 04:30PM
    A condo tower under construction

    A condo tower under construction

    With housing on an upswing, Broward County developers are planning more than 4,000 coastal condo units, new data shows. [more]

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  • Miami blight-fighting agency to issue $60M bond

    The proceeds will benefit five affordable housing projects
    July 28, 2014 03:45PM

    images-3The board of the Southeast Overtown Park West Community Redevelopment Agency is finally moving forward with a long-delayed $60 million bond issue.

    The semi-autonomous agency, whose mission is to fight blight, will consider issuing the financial obligations as early as Wednesday, according to the Daily Business Review. [more]

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  • Recent deaths spur construction industry into action

    Since June, four Broward workers have died on the job
    July 28, 2014 03:00PM
    Construction workers

    Construction workers

    A recent bout of workplace fatalities in Broward County spurred Miami-based construction industry group Safety Alliance For Excellence into action.

    Since last month, at least six people have died in work-related accidents in Broward, four of which were construction workers. In response, the Safety Alliance For Excellence plans to meet with federal officials next month to discuss ways to improve workplace safety, according to the Sun-Sentinel. [more]

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  • Inside therealdeal.com

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    Rendering of unnamed mixed-use tower planned for Miami’s Wynwood area

    Condos planned for Pompano Beach site acquired for $10.5M. Wynwood mixed-use tower moves forward after rezoning. Palm Beach County has nearly 3,000 units in development pipeline. Read those stories and more after the jump.

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  • Miami retail vacancies hit record low: report

    Substantial new development could make 3.9 percent quarterly rate short-lived, however
    July 28, 2014 01:30PM
    Bal Harbour Shops

    Bal Harbour Shops

    Miami retail vacancies are at an all-time low as the market enters “a new era” with luxury retailers branching out beyond Bal Harbour, a new report from CBRE shows.

    The market’s vacancy rate dropped to 3.9 percent during the second quarter of 2014, down from 4.1 percent at the end of the second quarter of 2013. CBRE considers 3.9 percent to be a record for the overall market. The rate could eventually climb, however, as nearly 1.9 million square feet of retail space was under construction at the end of the second quarter. [more]

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  • Residential project underway in southern Miami-Dade

    Oscar Barbara's Luxcom begins Mosaic at Venetian Parc development
    July 28, 2014 12:45PM
    Mosaic at Venetian Parc site (inset: Oscar Barbara)

    Mosaic at Venetian Parc site (inset: Oscar Barbara)

    Developer Luxcom began construction of the Mosaic at Venetian Parc residential community in southern Miami-Dade County.

    Oscar Barbara’s firm is building 301 single-family residences and townhomes at the Southwest 176th Street and 152nd Avenue site, according to Monday’s written statement released by a project spokesperson. The community’s homes have 20 different potential floorplans and three architectural styles: Contemporary, Island Colonial and Mediterranean. Townhome prices start from the $200,000s, while single-family residences start from the $300,000s. [more]

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  • Publix-anchored Tamarac center sells for $28.5M

    Doron Valero's Global Fund Investments makes third pricey deal of this summer
    July 28, 2014 12:00PM
    Sunshine Plaza (inset: Doron Valero)

    Sunshine Plaza (inset: Doron Valero)

    Doron Valero’s Global Fund Investments is having a busy summer buying and selling South Florida retail properties.

    In the Sunrise-based company’s latest transaction, it sold the Publix-anchored Sunshine Plaza in Tamarac for $28.5 million, according to Broward County records. The sale was recorded on Monday. Valero-managed GMM Sunshine paid $15 million for the nearly 246,000-square-foot shopping center in July 2011. [more]

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  • Downtown Lauderdale office towers trade for $66M

    Company tied to Boston-based TA Associates Realty is the buyer
    July 28, 2014 11:15AM
    200 East Broward Boulevard

    200 East Broward Boulevard

    A company tied to Boston-based TA Associates Realty picked up a pair of downtown Fort Lauderdale office towers for more than $66 million.

    Realty Associates Fund X acquired the 200 East Broward Boulevard and 203 Southeast First Street buildings in a transaction recorded on Friday, according to Broward County records. No financing was recorded. Including parking garages, TA added nearly 550,000 square feet to its South Florida portfolio. [more]

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  • Boca Raton could expedite development reviews

    City leaders introduce plan to streamline approval process for projects
    July 28, 2014 10:30AM
    Glenn Gromann

    Glenn Gromann

    Boca Raton leaders are devising a plan to help the city shed its reputation for being extremely slow to approve developments, particularly when dealing with proposed downtown projects.

    City officials and members of the Downtown Boca Raton Advisory Committee introduced a plan for streamlined development reviews last week. If adopted, the plan would eliminate as much as 10 weeks of reviews by getting rid of some steps for larger developments and expediting smaller projects. Proponents say that in addition to saving developers substantial money, the faster review process would get tax revenue into the city’s coffers much sooner. [more]

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