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AN ODE TO A FALLEN RETAIL STRIP, WE HARDLY KNEW YE
05/05/2015
Redevelopment construction management

CURBED - BY SEAN MCCAUGHAN. The mostly-demolished single story retail strip at 723 Lincoln Lane North may not look like much, and on the face of it that's all this building really was: a row of retail tenants on an alley just off Lincoln Road. A simple structure. But, with its jaunty pink and green design, and Lincoln Road adjacency without quite the Lincoln Road rents, it was a friend to many and a silent symbol of the multiple lives of Lincoln Road's evolution.

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Reports
TRENDS - Urban Retail Report 2014-2015
05/02/2015
Market research

An unrelenting draw toward urban lifestyles characterized South Florida's major retail streets in 2014, as national and international retailers grabbed new locations in urban settings. Not only national and international, but local restaurants and cafes, fashion stores, and art galleries continue to find a thriving environment for new concepts and a fertile ground for expansion in the region's major retail streets. As a result, average asking rent climbed on all South Florida major retails streets. Vacancy increased in six of the streets, but increases were either minor, or reflective of unique circumstances on each.

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Press Releases
TERRANOVA'S DYNAMIC DUO LEND THEIR TALENTS TO THE NATIONAL PARKINSON FOUNDATION
08/04/2015
General

MIAMI BEACH, FL – August 4, 2015 – If there is one thing Terranova has an abundance of, it’s influential women. This month we once again praise two of our finest, Mindy McIlroy and Karen Maerovitz for being awarded a prestigious honor and for making such a large impact on our community.

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COMMERCIAL REAL ESTATE NEWS

Jackson Square Shopping Center Sold for $32.5 Million

Terramar Retail Centers, LLC, has sold Jackson Square to ROIC California, LLC, a subsidiary of Retail Opportunity Investments Corporation (Nasdaq:ROIC), for $32.5 million. The 114,220-square-foot center at the southwest corner of West Jackson Street and Amador Street in Hayward, CA, is anchored by a Safeway grocery store, CVS and 24 Hour Fitness and was fully leased at the time of sale. The tenant lineup also includes Starbucks, Chase Bank, Round...

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COMMERCIAL REAL ESTATE NEWS

CoStar's People of Note (Aug. 23 - 29)

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: Atlanta, Los Angeles, Indianapolis, Northern New Jersey, Dallas / Fort Worth, Chicago, Orange County, South Florida, Minneapolis, Phoenix / Tucson, and Boston. ATLANTA Ackerman & Co. Adds Key Retail Developer to Team By Max Williams More news...

COMMERCIAL REAL ESTATE NEWS

Hong Kong Property Developer Invests in Co-Working Space Company NeueHouse

Hong Kong property company Great Eagle recently invested $25 million in NeueHouse, a New York-based provider of upscale co-working space. Its plan is to open a number of co-working spaces adjacent to Great Eagle’s new lifestyle hotel brand.

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COMMERCIAL REAL ESTATE NEWS

Frisch’s Restaurants Sold, Buyer Completes $167 Million Sale/Leaseback

Frisch’s Restaurants Inc. completed a merger with an affiliate of NRD Partners I LP for $174.5 million. The 121-unit Cincinnati-based brand operates 121 Big Boy restaurants across Ohio, Kentucky and Indiana. The buyer is an affiliate of NRD Capital Management in Atlanta. NRD Capital Partners is the first franchisee-sponsored and managed investment fund focused on investing in - and accelerating the growth of brands. “This is the right...

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COMMERCIAL REAL ESTATE NEWS

Colliers Taps Krasnow as Executive Managing Director

Kenneth Krasnow has joined Colliers International (NASDAQ: CIGI) as an executive managing director. Based in the firm's Miami office, Krasnow will focus on the continued strategic expansion of dedicated resources and services in South Florida for the global commercial real estate firm. Colliers Acquires Miami-Based Property Management Firm, Pointe Group Advisors Most recently a managing director with CBRE, Krasnow oversaw operations across...

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COMMERCIAL REAL ESTATE NEWS

TIAA-CREF, Swedish Pension Funds Form Property Venture

U.S. investor TIAA-CREF and Swedish National Pension Funds AP1 and AP2 have teamed up on European office investments.

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COMMERCIAL REAL ESTATE NEWS

Skirmishing German Discount Grocery Rivals Roll Out U.S. Store Plans

Local jurisdictions in several U.S markets have approved site plans for Lidl and Aldi grocery stores in recent days as the Germany-based discount food chains seek to expand their rivalry into Southern California and other highly competitive segments of the U.S. grocery market over the next few months. In Los Angeles, the La Verne City Council in suburban La Verne, CA, this week approved Aldi's plans to open a 21,000-square-foot market in a former...

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COMMERCIAL REAL ESTATE NEWS

Berkley Corp Pays $18M for Office Investment

W.R. Berkley Corporation, a Greenwich, CT-based commercial lines casualty insurance provider, acquired the office building at 324 Royal Palm Way in Palm Beach, FL from Armata Holdings for $18 million, or about $718 per square foot. The 25,068-square-foot office building was delivered in 1960 and was renovated in 2011. At the time of the sale the asset was fully leased. Mark Pateman of Cushman & Wakefield, Inc. represented the buyer, and was...

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COMMERCIAL REAL ESTATE NEWS

McDonald's Lands in a Real-Estate Dilemma

McDonald’s has told investors it wouldn’t rule out the possibility of spinning off its real estate, but some analysts say the arguments against a REIT far outweigh those for it.

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COMMERCIAL REAL ESTATE NEWS

Crowne Plaza Hollywood Beach Resort Sells for $26.3M

The Carlyle Group sold the Crowne Plaza Hollywood Beach Resort at 4000 S. Ocean Dr. in Hollywood, FL for $26.25 million, or about $113,000 per room, to Sotherly Hotels, Inc. The 259,873-square-foot, 311-room hotel was built in 1970 and renovated in 2007. The waterfront hotel features a business center, fitness center, swimming pool, and restaurant. The seller and buyer did not use broker representation in the direct sale. Please refer to...

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COMMERCIAL REAL ESTATE NEWS

Henry Silverman Creates New Property Firm

The private-equity veteran’s 54 Madison Partners will focus on hotels and hospitality.

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COMMERCIAL REAL ESTATE NEWS

Residence Inn Fort Lauderdale Sells for $33.5M

Claremont Companies sold the Residence Inn Fort Lauderdale Intracoastal hotel at 3333 NE 32nd Ave. in Fort Lauderdale, FL for $33.5 million, or about $322,000 per room, to Chatham Lodging Trust. The 157,001-square-foot, 104-room hospitality building was constructed in 2000. The deal is part of the two hotels acquired by Chatham from Claremont Companies totaling $55.5 million. The other hotel is Residence Inn Boston, which closed in July. The...

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COMMERCIAL REAL ESTATE NEWS

Shared Office Space Comes to China

The shared-office trend that vaulted New York-based startup WeWork to a $10 billion valuation is taking off in a new market: China.

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COMMERCIAL REAL ESTATE NEWS

Fort Lauderdale Development Site Sold for $17.3M

Simmons Vedder Partners and Principal Global Investors LLC sold the 0.88-acre site at 100 E. Las Olas Blvd. in Fort Lauderdale, FL for $17.25 million. An entity controlled by The Kolter Group, the West Palm Beach-based development group, acquired the development land for a proposed hotel and office development, 100 Las Olas Tower. The lot is located west of the Sun Sentinel Building and in front of the Las Olas River House condominiums. The...

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COMMERCIAL REAL ESTATE NEWS

Brazil's Fasano Comes to Miami Beach

The owner of Miami Beach’s swanky Shore Club has picked Brazilian hospitality company Fasano to run the site’s new luxury hotel and condominium.

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COMMERCIAL REAL ESTATE NEWS

Office Lease Up (Aug. 24) Pinterest to Fully Occupy New 150,000-SF Development

Alexandria Real Estate Equities Inc. signed Pinterest, the growing image-sharing tech company, to a long-term full-building lease at the REIT's new 150,000-square-foot office development at 505 Brannan St. in San Francisco. The 505 Brannan St. site is fully entitled under Proposition M, with Alexandria planning to kick off construction in early 2016 and wrap up in 2017. The new office development is a joint venture of Alexandria Real Estate Equities...

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COMMERCIAL REAL ESTATE NEWS

Typical New Home Shrinks by One Closet

The median size of U.S. homes built in the second quarter declined from the record set in the previous quarter, suggesting builders are starting to shift toward producing more entry-level homes.

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COMMERCIAL REAL ESTATE NEWS

Sitel Leases 114,000 SF at Pompano Business Center

Sitel Operating Corporation has signed a 114,000-square-foot office lease at 2500 NW 19th St. in Pompano Beach, FL. The Nashville, Tenn.-based global customer care provider will open a new inbound financial services call center next month, immediately adding 350 new employees with plans to increase head count to 1,000 there in one year. Sitel has announced it will create as many as 2,000 new jobs across the state, having already hired 700 new...

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COMMERCIAL REAL ESTATE NEWS

Strategic Hotels Exploring Possible Sale

Strategic Hotels & Resorts said its board is exploring possible strategic alternatives, including a potential sale of the luxury hotel company.

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COMMERCIAL REAL ESTATE NEWS

CoFe Properties Acquires Por North Miami Business Park

TA Realty sold four industrial and flex buildings located in The North Miami Business Park for $21 million, or approximately $100 per square foot, to CoFe Properties LLC. The North Miami Business Park is located at 1922-1998 NE 147th Ter, 1924-1996 NW 148th St, 1922-1998 NE 49th St., and 14855-14873 NE 20th Ave. All buildings were delivered in 1978 and total 122,913 sqaure feet located between Biscayne Blvd. and West Dixie Hwy. The 12-bulding park...

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COMMERCIAL REAL ESTATE NEWS

Commercial Real-Estate Prices Stir Bubble Worries

Investors are pushing commercial real-estate prices to record levels in cities around the world, fueling concerns that the global property market is overheating.

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COMMERCIAL REAL ESTATE NEWS

Walsh Joins CRE Rauch Lupo Robertson

CRE Rauch Lupo Robertson, a CRE Florida Partners Company, has hired David Walsh to join the firm as a multifamily specialist and senior investment associate based in the company’s Boca Raton office. In his new role, Walsh will lead and build the firm’s multifamily businesses in South Florida. His recent focus has been the management and disposition of multifamily investment grade assets for the past twelve years. Walsh has 24 years of experience...

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COMMERCIAL REAL ESTATE NEWS

Trump Hotel Collection Hires Eric Danziger as CEO

The Trump Hotel Collection, a small but growing part of Donald Trump’s business empire, has hired hospitality veteran Eric Danziger as its first chief executive officer.

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