The Real Deal Miami

  • 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]

  • 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]

  • 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]

  • Massive theme park could threaten endangered land

    Orlando-style development near Zoo Miami proposed on site owned by U.S. Coast Guard
    July 28, 2014 09:45AM
    Dennis Moss and Zoo Miami

    Dennis Moss and Zoo Miami

    The planned development of a Wal-Mart-anchored mixed-use complex on endangered pine rockland is raising concerns about a larger proposed project nearby: an Orlando-style amusement park by Zoo Miami.

    Approved by Miami-Dade County voters in 2005, the attraction would include a water park, roller coaster rides, a hotel and conference center and restaurants. The county is negotiating a private-public partnership with 20th Century Fox for the theme park. A plan could be submitted to commissioners by the end of 2014. [more]

  • Inside

  • Top stories

    July 28, 2014 09:00AM

    Top stories over the weekend on The Real Deal:
    1. Empire World Towers site could sell for $80M
    2. Edgewater property frenzy puts pressure on developers
    3. “Million Dollar Listing Miami” Episode 5: The Frenemy edition

  • Variety of work spaces in an office boost productivity: report

    Study also found employees like more open areas
    July 25, 2014 05:15PM
    Companies are moving away from a traditional office lay out

    Companies are moving away from a traditional office layout

    A CBRE study has found that a variety of different work spaces in an office can stimulate its workers and improve their productivity. [more]

  • Palm Beach couple can build new home on Estate Section site

    Engels bought the property for $7.6M this month
    July 25, 2014 04:30PM
    Rendering of the new home of James and Gaye Engel

    Rendering of the new home of James and Gaye Engel

    James Engel and his wife Gaye have gotten the OK to start building their new lakefront home in the Estate Section. [more]

  • Foreign buyer accelerates land speculation in Greater Downtown Miami

    Peter Zalewski tackles reader questions and opinions about the SoFla market
    July 25, 2014 03:45PM By Peter Zalewski
    Peter Zalewski

    Peter Zalewski

    Peter Zalewski is a real estate market consultant, non-practicing licensed real estate broker and columnist for The Real Deal who now answers reader questions about the South Florida real estate market in a new weekly Friday column. Questions and comments can be sent to The TRD editors will choose which submissions will be addressed.

    Question: How does the $125 million sale of the land next to the EPIC condo-hotel impact land pricing throughout Greater Downtown Miami? What should the new owners of the EPIC site build there, considering how many condo projects are already proposed in the area? [more]

  • Residential construction surges in South Florida: report

    McGraw-Hill data shows 97 percent year-over-year increase in June contracts awarded
    July 25, 2014 03:00PM

    ConstructionSouth Florida had a whopping 97 percent year-over-year increase in residential construction last month, the latest McGraw-Hill Construction data shows.

    Miami-Dade, Broward and Palm Beach counties had about $400 million in residential contracts in June. The tri-county area had about $203 million worth of residential contracts in June 2013. Nonresidential contracts surged from about $158 million in June 2013 to nearly $324 million last month. [more]

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    PortMiami tunnel opening pushed back to August. Third DCA foreclosure surplus ruling could have broad impact. Who are South Florida’s top commercial developers? Read those stories and more after the jump.