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]
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Quiksilver signs a lease in Miami Beach. The athletic wear company signed a 2,800-square-foot lease for a new flagship store at 673 Collins Avenue in Miami Beach.
Delray Beach’s Atlantic Crossing project announces first retail and office leases. The project is expected to go vertical by year-end, according to the developer, The Edwards Companies. The lead tenant will be Merrill Lynch, which will occupy the entire third floor. Chico’s has also signed for a 3,150-square-foot shop fronting Atlantic Avenue. The first restaurant tenant is Chicago-based The Hampton Social, according to a release.
Lennar picks up 50 lots in western Palm Beach County. Lennar Corp paid $6.1 million for the lots in the Arden home community as the company continues to buy land in western Palm Beach County. [TRD]
Retired baseball player Alex Rodriguez scored a home in Miami for his next UFC Gym. Rodriguez’s A-Rod Corp. signed a lease for 24,000 square feet at 3635 Northeast First Avenue in Midtown Miami. The fitness facility is expected to open in the spring of next year. [TRD]
Miami Beach broker Howard Chase and his wife, Liliana Chase, are getting into the restaurant business. The couple signed a three-year lease with extension options, for the former Cheeseburger Baby space at 212 Northeast 79th Street in Miami, Howard Chase said. [TRD]
A healthcare executive picked up a unit at the recently completed Ritz-Carlton Residences, Miami Beach. Nelson Shaller, who founded IHS Dialysis, bought unit 502 at the new luxury condo development at 4701 North Meridian Avenue for $6.4 million. The development group, led by Lionheart Capital, sold the unit. [TRD]
Kuwaiti royal was defrauded of $160M investment in Mountain of Beverly Hills: lawsuit. The interior minister of Kuwait has filed suit, claiming he was defrauded out of a $163 million investment in the 157-acre Mountain of Beverly Hills by its former owner. [TRD]
Auto magnate Terry Taylor sold a new dealership in Homestead to Bomnin Auto Group for $19 million. Property records show TT of Homestead Inc. sold the former Keith Pierson Chevrolet Superstore at 1075 Southeast Sixth Avenue to Bomnin Automotive CC. It’s now called Bomnin Chevrolet Homestead. [TRD]
Venezuelan oil tycoon Gerardo Pantin Shortt wants to sell his waterfront Miami Beach mansion. Pantin, who built his fortune contracting with Venezuela’s state oil company starting in the 1980s, owns the nine-bedroom, 9,091-square-foot Sunset Islands home. It hit the market this week with Oren Alexander of Douglas Elliman, according to Zillow. [TRD]
Banyan Cay finds new hotel partner for stalled West Palm Beach development. Banyan Cay Resort & Golf in West Palm Beach has partnered with Benchmark to develop, operate and market the property, according to the Palm Beach Post. The project could be turned into a Hyatt/Destination Resorts property, a boutique luxury hotel brand. Work had stopped on the development this spring, according to the Post. [Palm Beach Post]
Zoning, redevelopment top issues in District 2 Commissioner race. Coconut Grove neighborhood groups hosted a candidate debate this week, which incumbent Ken Russell and opponents Jim Fried and Javier Gonzalez attended. The three candidates were asked about their positions on development in Coconut Grove and changes to building regulations, according to the Miami Herald. The candidates also discussed their skepticism about the federal Opportunity Zones program. [Miami Herald]
The federal government is expected to buy more homes due to climate change. A recent study showed that most of the more than 43,000 properties FEMA has paid to demolish in the last three decades are in rich counties, according to the Miami Herald. [Miami Herald]
Compiled by Keith Larsen