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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

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

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

Minority Borrowers Feel Mortgage Pinch

Black and Hispanic borrowers are receiving a smaller share of mortgage loans, according to Federal Reserve data.

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COMMERCIAL REAL ESTATE NEWS

Simon Spin-Off Washington Prime Buying Glimcher Realty Trust in $4.3B Deal

Washington Prime Group (NYSE:WPG), a retail REIT formed earlier this year as a shopping center spin-off from mall giant Simon Property Group (NYSE: SPG), agreed to acquire mall owner Glimcher Realty Trust (NYSE: GRT) in a deal valued at approximately $4.3 billion, including debt assumption. The combination will consolidate ownership of 68 million square feet of retail space in a combined portfolio of 119 properties. Although Washington Prime...

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COMMERCIAL REAL ESTATE NEWS

CoStar's People of Note (Sept. 14 - 20)

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, Los Angeles, Seattle, Long Island, New York City, Westchester / Southern Connecticut, Houston, South Florida, Orlando, and Tampa / St. Petersburg. NORTHERN NEW JERSEY Sabre Group Rolls Out Expansion into NJ By Amy Shaw More news...

COMMERCIAL REAL ESTATE NEWS

The New World of Property Investing

Weekend Investor: There's a growing array of ways to profit from renting out single-family homes.

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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

Llewellyn Park Is Bucolic Beauty Close to City

The gated community of Llewellyn Park, a wooded enclave consisting of 178 homes spread out in 425 acres in West Orange, N.J., looks like the backdrop for a 'Downton Abbey' episode, the place has kept with the times.

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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

Trump SoHo to Go on Block

A lender to Trump SoHo, the upscale Manhattan hotel and condominium that Donald Trump unveiled on his television show The Apprentice, is foreclosing on the property and putting it up for sale, said people familiar with the matter.

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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

Mall Empire Expands With $4.3 Billion Deal

David Simon's spun-off real-estate investment trust, Washington Prime Group, said it would purchase Glimcher Realty Trust, another mall REIT, in a cash-and-stock deal valued at $4.3 billion.

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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

Dalian Wanda Property Arm Plans Hong Kong IPO

Dalian Wanda Commercial Properties, which is controlled by Chinese billionaire Wang Jianlin, aims to raise up to $6 billion with a Hong Kong initial public offering.

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COMMERCIAL REAL ESTATE NEWS

All Bev Bldg Sold for $6.2M

TMC Interamerican Corporation acquired the All Bev Bldg at 1190 NW 159th Dr. in Miami, FL from Rogover Bldg L C Fl for $6.23 million, or about $67 per square foot. The 93,725-square-foot industrial building was constructed in 1966. It is located in the North Miami Beach Industrial submarket, part of the Sunshine State International Park, a 330-acre industrial park with more than 5 million square feet of industrial space. A major selling point...

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COMMERCIAL REAL ESTATE NEWS

Chinese Property Investors Bet Big Overseas

A growing number of Chinese developers are launching big projects in Western cities, such as the planned $1.63 billion transformation of an abandoned dock in London into a business park.

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COMMERCIAL REAL ESTATE NEWS

Tessier Joins Carlton Group as Managing Director

David Tessier has joined The Carlton Group as a managing director. The hospitality and gaming industry veteran will co-head the firm's hospitality group with Brendan Sullivan, splitting his time between the firm's offices in New York City and West Palm Beach, FL. Tessier previously served as CFO/CIO and restructuring consultant for Turnberry Associates, which developed, owns and manages the Fontainebleau Resort, the Aventura Mall, and numerous...

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COMMERCIAL REAL ESTATE NEWS

Home-Sales Data Belie 'Lukewarm' Market

An unusually strong reading for U.S. new-home sales in August might not be enough to kick the market into higher gear.

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COMMERCIAL REAL ESTATE NEWS

Konover South Pays $13M for Boca Raton Retail Center

Konvoer South LLC acquired the Yamato Crossing retail center at 202-222 Yamato Rd. in Boca Raton, FL for $13 million, or about $498 per square foot, from Fifth Third Bank, in a bankruptcy auction. The retail shopping center is 92 percent leased at the time of sale. The property features an anchor tenant, CVS Health in 10,908 square foot freestanding building joined by a 4,200-square-foot Panera Bread. There is also an outparcel that is a unbuilt...

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COMMERCIAL REAL ESTATE NEWS

New York Builder Takes Vertical Leap

Related Cos. is planning a $6.5 billion project in the city of Santa Clara. Taken with two planned skyscraper projects in San Francisco and a mixed-use project in Los Angeles, the ventures show how Related is betting California is ready for denser urban development.

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COMMERCIAL REAL ESTATE NEWS

Douglas Elliman Forms Commercial Division

Douglas Elliman, best known as one of New York City's largest residential brokerage firms, is formally launching a new division called Douglas Elliman Commercial serving the New York City, Long Island and South Florida markets. The newly formed division will be led by Williamson, Picket, Gross, Inc. founder Jim Gross, his son and partner Peter Gross, and Douglas Elliman's Louis Puopolo. The new division will also include The Nickolai Team led by...

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COMMERCIAL REAL ESTATE NEWS

Plots & Ploys: News Digest

An Asian real-estate investor is acquiring the site of one of New York's most infamous diplomatic incidents. Hong Kong-listed Keck Seng Investments agreed to buy the Sofitel hotel for $272 million.

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