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Preview: South Florida Commercial Real Estate News From CoStar Group

South Florida Commercial Real Estate News From CoStar Group

CoStar Group, Inc. is the leading provider of information services to commercial real estate property investors and sales professionals in the United States and United Kingdom. CoStar's suite of services offers access to the most comprehensive database of


CoStar's People of Note (Sept. 15) - CBRE Exec Jumps to NKF, Savills Studley Promotes Three...

Fri, 15 Sep 2017 08:00:00 GMT

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: Silicon Valley, Houston, Richmond / Hampton Roads, Los Angeles, New York City, San Diego, Atlanta, Dallas / Ft. Worth, Boston, Northern New Jersey, Philadelphia, Chicago, Cincinnati, South Carolina and East Bay. SILICON VALLEY Kelly Joins NKF as Executive Managing...

Florida, Texas CRE Begin Long Recovery Effort from Back-to-Back Storms

Thu, 14 Sep 2017 10:57:03 GMT

With relief efforts under way in areas ravaged by Hurricanes Harvey and Irma, analysts are now beginning to assess the broader questions of how the back-to-back natural disasters could potentially affect U.S. economic growth, the nearterm impact of the thousands of residents and tenants displaced by the storms, and how the threat of future storms may affect investor appetite for coastline property in areas with elevated exposure to destructive tropical...

Market Trend: South Florida's Mid-Year Industrial Deliveries, Construction and Inventory

Thu, 14 Sep 2017 06:56:52 GMT

During the second quarter 2017, 14 buildings totaling 1,456,539 square feet were completed in the South Florida market area. This compares to 10 buildings totaling 1,328,543 square feet that were completed in the first quarter. There were 4,441,661 square feet of Industrial space under construction at the end of the second quarter 2017. Some of the notable 2017 deliveries include: Flagler Station - Building 8, a 330,000-square-foot facility...

Blue Rock Partners Purchases Pinebrook Property in Miami

Tue, 12 Sep 2017 07:51:12 GMT

Blue Rock Partners LLC acquired the 309-unit Pinebrook apartments at 15601 SW 137th Ave. in Miami, FL for $37.25 million, or about $120,000 per unit, from Pinebrook South LTD. The 273,000-square-foot multifamily building was built in 1987 in the Palmetteo Estates MF submarket. Felipe Echarte and Evan Kristol of Marcus & Millichap represented the seller. The buyer handled the sale in-house. For more information on this transaction, please...

Midtown Capital Partners Acquires Office Bldg

Mon, 11 Sep 2017 09:22:25 GMT

Midtown Capital Partners LLC acquired the Plantation Pointe Office Park building at 7600-7700 W. Sunrise Blvd. in Plantation, FL for $56 million, or about $255 per square foot, from Torburn Partners. The office building totals 221,597 square feet and was built in 1971 and renovated in 2017. It is located in the Plantation submarket. Both the seller and buyer handled the sale in-house. For more information on this transaction, please refer...

Charter School Capital Pays $33M for Two Charter Schools

Tue, 05 Sep 2017 06:53:52 GMT

Charter School Capital acquired two charter schools located at 10030 Mathog Rd. in Riverview, FL and 8399 N. University Dr. in Tamarac, FL for $33 million, or about 215 per square foot, from ESJ Captial Partners LLC and MG3 Developers Group. Kid’s Community College South was built in 2012 on 4.5 acres in teh Southeast Hillsborough County submarket of Tampa / St. Petersburg. The Tamarac property was built in 1983 on 9.2 acres in the NW Broward...

JPMorgan, Magellan Development Secure Financing for Proposed Midtown 6 Apts

Tue, 05 Sep 2017 06:14:06 GMT

J.P. Morgan and Magellan Development Group secured $110.3 million in construction financing for the proposed Midtown 6 multifamily project at 3101 NE 1st Ave. in Miami, FL. The project will span 31 stories and total 397,000 square feet of residential space above 40,000 square feet of street-level retail. The project is expected to complete in spring 2020 and have a LEED Silver designation. Midtown 6 is designed by bKL Architecture with Magellan...

Miskew, Rex Join SRS Real Estate Partners

Tue, 05 Sep 2017 05:48:53 GMT

SRS Real Estate Partners hired Steve Miskew (pictured) and Shannon Rex in Fort Lauderdale, FL to expand its investment services capabilities across South Florida. Miskew will serve as the managing principal for the firm's investment properties group and as market leader of the South Florida office. He has 33 years of investment sales experience and was co-founder of RJS Realty Group, Inc., where he closed numerous investment sales and managed the...

City of Fort Lauderdale Appoints Colliers International as Exclusive Real Estate Rep

Tue, 05 Sep 2017 03:47:47 GMT

Colliers International was awarded the contract to be the real estate advisor for the City of Fort Lauderdale. The City Commission met and finalized the contract that appoints Colliers International as the real estate adviser to the City for a one-year term with rights to extend. Colliers will advise the City on the highest and best use for several hundred properties that are vacant or underutilized after completing a full assessment of the portfolio...

TH Real Estate Acquires The Atlantic at East Delray Apts

Tue, 29 Aug 2017 03:48:33 GMT

TH Real Estate acquired the 228-unit The Atlantic at Del Ray apartments located at 650 Lavers Cir. in Delray Beach, FL for $54.33 million, or about $238,000 per unit, from Pollack Shores Real Estate Group and Heitman. The 246,044-square-foot multifamily property was constructed in 1996 in the Outer Delray Beach Multifamily submarket. Avery Klann, Hampton Beebe, Marc deBaptiste, Richard Donnellan, Jonathan Senn and Matthew Scarola of ARA Newmark...