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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


Piedmont Strikes Deals to Sell 14 Office Buildings to Pair of Undisclosed Buyers

Wed, 22 Nov 2017 12:49:25 GMT

Piedmont Pointe II in Bethesda, MDAs part of its ongoing strategy to focus on owning Class A office properties in select submarkets primarily within eight major Eastern U.S. office markets, Piedmont Office Realty Trust (NYSE:PDM) said it is in the process of selling 14 office buildings across the country to two different buyers for a total minimum gross sales price of approximately $425.9 million. The properties total 2.6 million square feet and...

Water Tower Commons Developer Talking to Related Group, Others on Taking Role in Stalled Project

Mon, 20 Nov 2017 05:12:49 GMT

Water Tower Commons Developer Rendering The master developer of the mixed-use Water Tower Commons project in Lantana, FL is in talks with other builders, including multifamily powerhouse Related Group of Miami, CoStar News has learned. Lantana Development is looking to sell part of the 73-acre site just east of Interstate 95 to Related or another group for 360 apartments, according to project manager Mike Langolf. "That's a fair statement,...

CoStar's People of Note (Nov. 17) - Levy Lands at Crow, DePizzol Departs for NKF, Burdette Joins JLL...

Fri, 17 Nov 2017 08:00:55 GMT

The following companies announced personnel moves this week: Crow Holdings, Newmark Knight Frank, JLL, Avison Young, Kidder Matthews, Transwestern, JAG and Cushman & Wakefield | Thalhimer.img.pon{display: block; padding: 5px; width: 25%; max-width:180px; max-height: 220px; float: right;} img.pontwo{display: block; padding: 5px; width: 45%; max-width:360px; max-height: 220px; float: right;} img.ponthree{display: block; padding: 5px; width: 60%; max...

Q&A: Miami Worldcenter Developer Nitin Motwani Outlines Vision

Thu, 16 Nov 2017 10:40:44 GMT

Miami Worldcenter Rendering Miami Worldcenter, a $3 billion mixed-use development slated for downtown Miami, is one of the nation's largest urban projects under construction. The 10-block development, located between Second and Miami Avenues to 11th Street, will feature up to 450,000 square feet of retail, up to 600,000 square feet of offices, as many as 1,700 hote

Brickell Avenue Building Being Offered as Prime Redevelopment Site

Fri, 10 Nov 2017 07:13:45 GMT

The Banco Santander Building in downtown Miami is for sale, but prospective buyers are likely more interested in the land than the 15-story tower sitting atop it. Avison Young's listing flyer describes the 188,138-square-foot building at 1401 Brickell Ave. as a, "One-of-a-kind redevelopment opportunity," between the most prominent buildings in the corridor: the Four Seasons and Brickell Arch. There is no asking price, and a call for offers...

Colliers Tapped to Lease 110 Tower in Fort Lauderdale

Fri, 10 Nov 2017 05:08:45 GMT

IP Capital Partners has appointed Colliers International South Florida as the exclusive listing agent for its 110 Tower, a 4-Star office building in downtown Fort Lauderdale. The 30-story building, located at 110 SE 6th St., is the tallest office tower downtown. It has a wrap-around terrace, restaurants, a health club, a bank and conference and entertainment facilities. The building is 81 percent occupied with average asking rent of $29.97 per...

Older Shopping Centers Targeting Non-Traditional Tenants

Wed, 08 Nov 2017 09:07:26 GMT

Broker Bill Reichel, president and owner of Reichel Realty & Investments, Inc. of Palm Beach Gardens, FL, could see the writing on the wall. The leasing manager for Nassau Square shopping center, at 75677-7781 Lake Worth Rd. in suburban Lake Worth, FL, knew that one of its larger tenants, a hardware store chain, was likely to exercise an exit clause in its lease as the retailer struggled to gain traction against industry titans Home Depot and...

ESG Kullen Pays $17.9M for Boynton Beach Bulk Condo

Tue, 07 Nov 2017 04:05:47 GMT

ESG Kullen acquired the 118-unit commercial condo building at 1625 Renaissance Commons Blvd. in Boynton Beach, FL from Delma Properties, Inc. for $17.9 million, or about $151,500 per condo. The multifamily building delivered in 2007 in the heart of Boynton Beach. It is located in the Renaissance Commons MF submarket. Calum Weaver and Perry Synanidis of Cushman & Wakefield represented the seller in the deal. The buyer handled the sale in-house...