Related’s Element to have three towers, 1,000 condos – slideshow – South Florida Business Journal.
Monthly Archives: July 2013
Miami construction update: Summer 2013
Here is an early Summer update of skyscraper construction in Miami. Since the last construction update in March, numerous new towers have been proposed and approved across the city. Most of these newly proposed towers plan to break ground in late Summer and Fall 2013. In the meantime, below are some updates on the towers currently under construction.
For a recap of these projects, with renderings and data, see: Miami’s future skyscrapers: Part 1 and Part 2.
1100 Millecento: The 42-story 1100 Millecento residential tower has gone vertical. The ground floor of this building looks like it’s going to be a great space. Especially overlooking Flatiron Park across the street, the location of this building is prime.
Brickell CityCentre: The Brickell CityCentre sites are a massive construction project, spanning four city blocks in the center of Brickell. Of all the projects under construction in the city, this is by…
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Whole Foods Market in North Miami sells for $20M
The newly constructed building housing Whole Foods Market in North Miami has sold for $19.8 million.
CBRE Senior VP Dennis Carson and senior associate Todd Weintraubrepresented seller Biscayne Partners in the transaction for the 36,000-square-foot building, at 12150 Biscayne Blvd.
The seller, which is managed by Aria Mehrabi, was able to pay off a $13 million mortgage from U.S. Bank. The building was completed in May.
CBRE identified the seller as Happiness Inc.
“Single-tenant Whole Foods are rarely available to investors, and this one’s very strategic location and the demographics of northeastern Miami-Dade County were especially appealing to investors,” Carson said in a news release.
CBRE’s Casey Rosen and David Donnellan also represented the seller in the transaction.
South Florida Business Journal
Brickell CitiCentre Buys 700 Brickell, A Massive New $65 Million Front Door
As expected, Brickell CityCentre, already ginormous at about five city blocks in size, has purchased 700 Brickell Avenue, an unnamed source told the South Florida Business Journal. CitiCentre bought:
(1) a sizable chunk of prime Brickell Avenue property to expand the already mega megadevelopment…
(2) a Brickell Avenue address, and most importantly…
(c) a giant new front door with the aforementioned Brickell Avenue address.
They paid a pretty penny for it too, beating out Related Group and Fortune International who were also bidding for it, to the tune of $65 million.
And which property did they buy?
(Drum-roll…spoiler alert)….
The site was marketed on behalf of Northern Trust and the Brickell family trust, which share control of the site, according to sources who asked not to be named. And was most recently the home of Miami Today.
Miami Capital Properties 