Sterling Bay tops off 545wyn in Wynwood, Reich Brothers buys $70 million former Sears distribution center in Ocala
A daily roundup of South Florida real estate news, deals and more for Nov. 20, 2019
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@example.com.
This page was last updated at 5:30 p.m.
Metro 1 lists Wynwood Crossings. Metro 1 is putting a 1.38-acre site in Wynwood’s Southeast Quadrant on the market for $21.5M. The site at 2000 North Miami Avenue could be developed into a 12-story building with up to 207 residential units or a combination of a 170 key-hotel, 120,000 square feet of office and 311 parking spaces.
Elliman takes over sales of Alex Sapir’s Arte project in Surfside. Douglas Elliman is taking over sales of Arte by Antonio Citterio, a luxury boutique condo in Surfside, The Real Deal has learned. Corcoran Sunshine was previously handling sales and marketing of the 16-unit, 12-story condominium building at 8955 Collins Avenue. [TRD]
Grove Isle developers pay $17M for West Kendall assisted living facility. United Home Care sold an assisted living facility in West Kendall to a company tied to Grove Isle developers. Property records show 9355 Miami LLC, led by developers Eduardo Avila and Hector Fernandez-Rousselon, paid $16.5 million for the four-story, 87,674-square-foot building at 9355 Southwest 158th Avenue. [TRD]
Apartment building in Little Havana flips for $6M. An investor flipped a Little Havana apartment building for $6.2 million after buying it a few months ago.
Aurora Investments Florida, led by Coral Gables attorney Oswaldo Martinez, sold the 21-unit apartment building at 900 Southwest Seventh Street for $295,238 per unit, records show. [TRD]
Margaritaville developer plans another Hollywood hotel despite opposition. Lon Tabatchnick, the developer of the Margaritaville Hollywood Beach Resort, plans to co-develop another oceanfront hotel, despite opposition from the city’s planning and development board. [TRD]
Private equity firm picks up Hialeah Gardens trucking facility. A 51.8-acre truck parking facility in Hialeah Gardens sold for $8.1 million. Timber Hill Group bought the property at 15545 Northwest 122nd Avenue for $156,370 per acre, records show. F&M Parking, which is led by Felix Rodriguez of Sunny Isles, sold the facility. [TRD]
Mark Bellissimo buys land near International Equestrian Center. Wellington developer Mark Bellissimo paid over $29 million for land near his Palm Beach International Equestrian Center.
As part of the sale, property records show Pierwell Properties LLC sold the lots at 3440, 3462 and 3510 Gene Mische Way to Far Niente Stables XXV and Far Niente Stables XXVI, both controlled by Bellissimo, for a combined $17.18 million. [TRD]
Sterling Bay tops off 545wyn in Wynwood. Chicago-based Sterling Bay topped off and started a retail launch for its 545wyn office building at 545 Northwest 26th Street in Miami. The 10-story, 325,000-square-foot new construction broke ground in December 2018 and is set to be completed in late 2020.
Reich Brothers buys $70 million former Sears distribution center in Ocala. Reich Brothers purchased a former Sears distribution center totaling nearly 2 million square feet in Ocala, Florida. The sale is Florida’s largest single-building industrial asset, according to a release. Avison Young’s Mike T. Fay, Jay A. Ziv, John K. Crotty, and David Duckworth represented the seller in the deal.
Terra unveils latest mixed-use project near Downtown Doral. David Martin’s Terra revealed plans for a retail center near Downtown Doral, as demand for sprawling suburban shopping centers remains strong in South Florida. Tenants of the 150,000-square-foot shopping center include 24-Hour Fitness and Marshalls, according to a release.
— Compiled by Keith Larsen