Felix Cohen buys two vacant lots on North Bay Road, Controversial Walmart site in Midtown Miami sells for $26M: Daily digest

A daily roundup of South Florida real estate news, deals and more for Sept. 26, 2019

TRD MIAMI /
Sep.September 27, 2019 06:15 PM

Every day, The Real Deal rounds up South Florida’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to [email protected]

This page was last updated at 6:15 p.m.

 
Julian Cohen with the property

Julian Cohen with the property

Spec home developer Felix Cohen buys two vacant lots on North Bay Road for $14M. Cohen bought the combined 36,143 square-foot-property at 5830–5840 North Bay Road for $373 per square foot, records show. The property features 200 feet of deep water frontage. [TRD]

 

Controversial Walmart site in Midtown Miami sells for $26M. The former site of Walmart in Midtown Miami sold for $26.4 million to a neighboring Midtown developer, after years of contentious litigation from residents who opposed a superstore. Walmart sold the 4.6-acre site at 3055 North Miami Ave to Midtown Opportunities, led by Alex Vadia. [TRD]

 
Manny Machado and Chad Carroll with 20 Tahiti Beach Island Road (Credit: Getty Images and Douglas Elliman)

Manny Machado and Chad Carroll with 20 Tahiti Beach Island Road (Credit: Getty Images and Douglas Elliman)

Buyer revealed: Baseball player Manny Machado buys Tahiti Beach Island manse. Baseball player and Miami native Manny Machado scored a mansion in his hometown. Manny Machado, third baseman and shortstop for the San Diego Padres, is the buyer of 20 Tahiti Beach Island Road in Coral Gables. [TRD]

 

Brookfield affiliate picks up tire distribution center for $20M. A company tied to Brookfield Asset Management picked up the Tire Group International Distribution Center near Miami International Airport for $19.5 million, adding to the firm’s South Florida holdings. [TRD]

 

The purge continues: WeWork’s head of real estate is leaving. Granit Gjonbalaj, who oversaw real estate operations including design, construction, project management and development, signalled his intent to resign earlier this week, people familiar with the matter told The Real Deal. He is currently negotiating his exit package. [TRD]

 
Joseph Maas of TMT Properties and 190 Congress Park Drive (Credit: Google Maps)

Joseph Maas of TMT Properties and 190 Congress Park Drive (Credit: Google Maps)

TMT Properties buys Delray Beach offices. TMT Properties bought two office properties in Delray Beach for $10.1 million, a year after buying an adjacent building. [TRD]

 

Forever 21 still doesn’t have a reorganization plan ahead of its bankruptcy proceedings. Its two largest landlords, Brookfield Property Partners LP and Simon Property Group, could be left with vacant space heading into the busiest retail time of the year. [Bloomberg]

 

Five investors are said to be circling Barneys New York Inc., the bankrupt luxury retailer. After filing for Chapter 11 earlier this month, Barneys bankruptcy auction is scheduled for no later than Oct. 29. [Bloomberg]

 

Two South Florida businessmen could be tied to President Trump’s impeachment inquiry. Lev Parnas and Igor Fruman were cited in a government whistleblower complaint released Thursday, according to the Miami Herald. Parnas is a former stockbroker who was threatened last year with eviction from a $5,500-per-month home in Boca Raton. Parnas is also linked to a Bal Harbour condo that sold for $4.1 million, according to the Herald. [Miami Herald]

 
Real estate stocks tick up — even as the House begins impeachment inquiry (Credit: Getty Images, iStock)

Real estate stocks tick up — even as the House begins impeachment inquiry (Credit: Getty Images, iStock)

A rally for real estate stocks amid a tumultuous week for Trump. Real estate stocks have ticked up this week, weathering a downward trending S&P 500 and the news that the House Speaker had opened a formal impeachment inquiry into President Trump. [TRD]

 

Miami commissioners approved a $1 billion spending plan. The spending plan includes subsidies for low-income seniors and park improvements, according to the Miami Herald. Mayor Francis Suarez is looking to create a $1 million rent assistance program for low-income seniors who live in subsidized housing, in which residents could receive up to $200 a month to cover rent increases. [Miami Herald]

 

NewSound Church in Wellington is considering buying the site of a former strip club. The church is looking to buy a large former strip club on Southern Boulevard, according to the Palm Beach Post. The former Double Dee’s, at 8199 Southern Boulevard in unincorporated West Palm Beach, was once owned by a man accused of mob ties and closed late last year, according to the Post. [Palm Beach Post]


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