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Miami briefs


Fort Lauderdale developer can’t play Trump card

The Trump International Hotel and Tower in Fort Lauderdale may no longer be able to use Donald Trump’s name, the Miami Herald reported. Trump said the developers of the property were in default on a licensing agreement to use the name. Sales at the building, where prices began at $600,000, were boosted by the Trump brand. Now 30 buyers are suing the project’s developers and Trump, saying Trump’s involvement with the building was misleading.

Brickell construction continues despite rumors

Construction on Miami’s Brickell Financial Center has continued despite rumors that work on the office tower halted, GlobeSt.com reported. The last crane is coming down, and the next step is to install the building’s exterior curtain wall system, according to developer Foram Group. The building has topped off and is slated for completion in 2010. One prelease tenant, law firm Bilzin Sumberg Baena Price & Axelrod, canceled its $58 million deal for 115,000 square feet in the building in February.

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South Florida foreclosure filings up over 100 percent

The number of foreclosure filings in South Florida jumped by more than 100 percent in April as unemployment and loan problems continued and property values fell further, according to data from foreclosure tracking firm RealtyTrac. Foreclosure filings rose 111 percent in Miami-Dade County between March and April and were up nearly 90 percent year-over-year, the Miami Herald reported. In Broward County, foreclosures spiked 124 percent month-to-month and 91 percent year-over-year.

UBS renews lease at Bank of America Tower

UBS Financial Services has renewed its $7.5 million, five-year lease for 34,536 square feet at Miami’s Bank of America Tower. The lease renewal is the tower’s sixth and largest so far this year. Tony Puente, senior vice president of Fairchild Partners, represented the landlord, Wealth Capital Management. Colleen Newcomer, president of CBN Commercial Real Estate Services, represented UBS Financial Services. The Bank of America Tower is now 92 percent occupied.

Compiled by Sara Polsky

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