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Strong demand boosts South Florida real estate prices
08/22/2014
General

FOX NEWS VIDEO-Aug. 21, 2014 - 2:26 - Phil Keating reports from Miami Beach

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Reports
Urban Retail Report 2013
12/01/2013
Market research

Occupancy and asking rents have kept an upward trend in South Florida’s retail streets, with Lincoln Road continuing to exceed in rental levels. New energy is apparent in all South Florida retail streets, from posh Worth Avenue in Palm Beach to gritty Flagler Street in downtown Miami, two streets newly included in this annual report, and which illustrate the challenges and conquests at the two extremes of the urban street experience.

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Press Releases
TERRANOVA SIGNS LEASE WITH AESOP ON LINCOLN ROAD
09/22/2014
Leasing

MIAMI BEACH, FLORIDA –September 22, 2014 –Terranova Corporation is pleased to announce it has signed a deal with Aesop, which will sell its luxurious skincare products at 830 Lincoln Road in Miami Beach, Fla.

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COMMERCIAL REAL ESTATE NEWS

Excel Trust Secures $226 Million Shopping Center Portfolio in Utah

Excel Trust (NYSE: EXL), a retail-focused real estate investment trust based out of San Diego, added approximately 1.6 million square feet to its national retail holdings with the acquisition of three Family Center retail properties from DDR Corp. (NYSE: DDR), a retail REIT based in Beachwood, OH, for $225.6 million, or approximately $413 per square foot. The three properties involved in the transaction were the Family Center at Fort Union in Midvale...

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COMMERCIAL REAL ESTATE NEWS

DavidBarton Gym Leases 20,000 SF in Miami

DavidBarton Gym signed a 20,100 square foot lease in the Southeast Financial Center building located at 200 S. Biscayne Blvd. in Miami, FL. Designed by Hines with architect Skidmore Owings & Merrill LLP in 1984, the 55-story, 5-Star office building totals 1.23 million square feet on 2.5 acres in the Downtown Miami submarket. Southeast Financial Center has undergone notable capital improvements totaling $20.5 million since late 2008, including...

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COMMERCIAL REAL ESTATE NEWS

Higher Land Prices Test Affordable-Housing Plan

In May, Mayor Bill de Blasio's administration announced that East New York would be the first neighborhood targeted for new residential towers and affordable housing. Now the area has become the subject of intense interest by developers.

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COMMERCIAL REAL ESTATE NEWS

Inland Income Trust Acquires Retail Portfolio For $318M

Kite Realty Group Trust (NYSE:KRG) has agreed to sell 15 retail properties in eight states to Inland Real Estate Income Trust, Inc. for $318 million. The sale announced jointly by the companies is expected to close in two tranches by Dec. 15, 2014 and March 16, 2015, respectively, subject to the usual closing conditions. The properties, a combination of grocery and power centers totaling 2 million square feet in Alabama, Arkansas, Georgia, Louisiana...

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COMMERCIAL REAL ESTATE NEWS

Kendall Properties Acquires Seven Bldg Office Portfolio in SFL

Louja Realty, Inc. has sold a seven-building office portfolio located across Palm Beach County in South Florida to Kendall Properties for $24 million, or about $86 per square foot. The 280,000-square-foot portfolio consists of seven buildings on four separate properties in Boynton Beach and Delray Beach. Included in the sale was:Delray Office Park at 4723, 4731 and 4733 W. Atlantic Ave. in Delray Beach;Woolbright Corporate Park at 1901-1903 S...

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COMMERCIAL REAL ESTATE NEWS

What's the Deal: News Digest

A roundup of commercial property news from across the tri-state region.

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COMMERCIAL REAL ESTATE NEWS

CoStar's People of Note (Sept. 21 - 27)

It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Northern New Jersey, Boston, Phoenix, South Florida, Portland, Washington DC, Hampton Roads, Los Angeles, and Stockton / Modesto. NORTHERN NEW JERSEY Avison Young Acquires Kwartler Associates By Justin Sumner Avison

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COMMERCIAL REAL ESTATE NEWS

Squatters Welcome Blackstone's Spanish Property Play

Blackstone has purchased 40,000 mortgages in the Barcelona area, but the company may find making money out of depressed Spanish real estate is a tough challenge.

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COMMERCIAL REAL ESTATE NEWS

Cypress Financial Ctr Sells for $32.6M

Steelbridge Capital acquired the 11-story Cypress Financial Center at 5900 N. Andrews Ave. in Fort Lauderdale, FL from Tricony Management LLC for $32.55 million, or about $164 per square foot. The 198,528-square-foot, 4-Star office building is located within the Cypress Creek submarket of Broward County. The asset was 76 percent occupied at the time of sale. The sale included the buyer's assumption of existing debt totaling more than $30.4...

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COMMERCIAL REAL ESTATE NEWS

REITs Prune Their Portfolios in Shift Back to Basics

With commercial-property values soaring and investors gravitating toward what they see as companies with stable, predictable returns, REITs increasingly are pruning their portfolios of assets that fall outside their core area of focus.

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COMMERCIAL REAL ESTATE NEWS

Sobe Realty Buys South Beach Portfolio for $4.5M

Sobe Realty Investments, Inc. acquired the retail building at 1501 Alton Rd. and the three-unit apartment building at 1509 W. Avenue in Miami Beach, FL for $4.57 million from AIDS Healthcare Foundation. The Foundation's Out of the Closet thrift store has occupied the 7,959-square-foot retail building since 2011, and will remain there for a short time until relocating to a nearby location. These properties are located two blocks south of the Lincoln...

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COMMERCIAL REAL ESTATE NEWS

In the Philippines, a Dream of Green City

On land that once belonged to the largest American military base outside the U.S., Arnel Casanova envisages a new type of city for the Philippines.

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COMMERCIAL REAL ESTATE NEWS

Blanca CRE Expands Miami Office

Blanca Commercial Real Estate has hired Flavia Eternod as an associate vice president, and Cyvellis Vidal as its research and marketing director. Eternod will support Blanca's expanding landlord agency practice while assisting business development efforts. She previously served as senior property manager for New Boston Fund, where she managed operations at the award-winning One Park Square at Doral office building. Eternod earned a bachelor's...

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COMMERCIAL REAL ESTATE NEWS

InterContinental to Run L.A. Hotel for Korean Air

InterContinental Hotels Group won the rights to manage a 900-room hotel being built atop the Wilshire Grand Center in Los Angeles for owner Korean Air Lines.

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COMMERCIAL REAL ESTATE NEWS

Blanca Commercial, CBRE Tapped to Lease All Aboard Florida's MiamiCentral

All Aboard Florida has retained Blanca Commercial Real Estate to exclusively represent office leasing and CBRE to handle retail leasing at MiamiCentral, South Florida's first urban, mixed-use, transit-oriented development. The 3 million-square-foot project is being developed by All Aboard Florida on nine acres located to the east of Miami-Dade County Hall, and includes an adjacent two-acre site at the corner of NW 2nd Ave. and NW 6th St. in Miami...

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COMMERCIAL REAL ESTATE NEWS

Plots & Ploys: News Digest

Ailing retailer Sears said last week it would take out a short-term loan of $400 million to get it through the holiday season. One surprise is where a large chunk of that money might come from.

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COMMERCIAL REAL ESTATE NEWS

11 Acre Land Parcel Sold for $7.5M

The Richman Group of Companies acquired the eleven-acre parcel of land located at the northwest corner of SW 136th St. and SW 127th Ave. in Miami, FL for $7.5 million, or about $682,000 per acre, from Tamiami Kendall Investments, Inc. Plans are in place for a 240-unit multifamily complex to rise at the site. Construction is expected to begin in 2015. Laura Kefalidis with Sperry Van Ness Miami represented both the buyer and the seller. For...

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COMMERCIAL REAL ESTATE NEWS

Seeing Red Over Pink

Neighbors along a block of century-old buildings on Pleasant Avenue in East Harlem will get to vote to choose a new color scheme for developer HAP Investments' new project.

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COMMERCIAL REAL ESTATE NEWS

McAllister Joins Cushman & Wakefield

Jack McAllister has joined Cushman & Wakefield's investor services group as a senior portfolio manager. Operating out of the firm's Fort Lauderdale office, McAllister will oversee investor services across South Florida, where the privately-owned commercial real estate company is continuing its strategic growth initiative. McAllister previously served as senior general manager at JLL, where he implemented the company's "value added" investment...

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COMMERCIAL REAL ESTATE NEWS

How to Play the Real-Estate Market (Before It's Too Late)

Housing has seen a remarkable recovery—but its foundations are starting to look wobbly. Here's how to make the most of it.

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COMMERCIAL REAL ESTATE NEWS

106,000-SF Industrial Bldg Gets New Owner

Safari Topia LLC acquired the industrial building at 5960 Miami Lakes Dr. in Miami Lakes, FL from 3B-East Associates for $8.35 million, or about $79 per square foot. The single-story, 105,938-square-foot warehouse was built in 1985 in the Miami Lakes Industrial submarket. Rafael Villamizar of Vertical Strategies represented the buyer. Thomas Kimen of Easton & Associates represented the seller. Please refer to CoStar COMPS #3114044 for...

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COMMERCIAL REAL ESTATE NEWS

The Hidden Income in Your Home

Sites like Airbnb turn ordinary homeowners into landlords—and change the economics of real estate.

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