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Miami developers are redrawing swaths of the city through this zoning carve-out
For decades, these three large city blocks in a prime location — straddling Miami Avenue and butting up against the Miami River and the Brickell financial district — lay inexplicably vacant. Now, in the seeming twinkling of an eye, they have been utterly transformed. Brickell City Centre, which opened in November, is an urban animal of a concentrated intensity more evocative of Hong Kong or Tokyo than anything Miami has seen before: five towers connected by a multilevel, open-air shopping center plugged directly into a Metromover station and...
read moreReal Estate Trends: Fla. ‘outperformed’ the U.S.
ORLANDO, Fla. – Jan. 27, 2017 — In 2016, Florida’s economy outperformed the nation in part because of better job creation, according to several economists who spoke to a standing-room-only crowd of about 500 Realtors® at the 2017 Florida Real Estate Trends event Thursday during Florida Realtors Mid-Winter Business Meetings. National Association of Realtors (NAR) Chief Economist Lawrence Yun noted that the pace of U.S. home sales in 2016 at 5.5 million was “the best in a decade.” Since it’s nowhere near the 7.2 million sales peak in 2006,...
read moreS. Fla. was among the top markets for home flipping in 2016
South Florida’s major cities rank high for its percentage of home sales in 2016 that were considered “flipped,” according to new research from Trulia. Fort Lauderdale is the top South Florida on the city on the list, with 8 percent of its home sales considered “flipped” in 2016, ranking the city No. 7 out of 100. Click Full Article for more details. Full Article Save Article Article Feedback Share Article
read moreDow 20,000: The ‘Trump Bump’ And How It All Affects Real Estate
Investors soaring high on the “Trump bump” pushed the Dow Jones industrial average across the 20,000 threshold in the fastest thousand-point gain in the index’s history. Here’s how this milestone will impact the commercial property industry going forward. 1. Strong Real Estate Drivers Investor confidence in President Donald Trump’s anticipated policies — particularly his promises to cut corporate taxes, ease financial regulations and boost infrastructure spending — is driving the post-election rally to the 20,000 milestone. 2....
read moreRoyal Caribbean sails to $1.28B profit in 2016
Royal Caribbean Cruises Ltd. posted record earnings in 2016, buoyed in part by higher ticket prices, increased onboard spending and cost savings, the cruise company said Thursday. The Miami-based cruise operator generated net income or profit of $1.28 billion or $5.93 a share, versus $665.8 million, or $3.02 a share in 2015. Revenue climbed to $8.5 billion in 2016, up 2.4 percent from the previous year. For the fourth-quarter ended Dec. 31, Royal Caribbean generated profit of $261 million, or $1.21 a share, compared with $207 million, or 94...
read moreMiami Targeting Chinese Investors Miami
Despite efforts by Miami brokerages to establish divisions targeting Chinese investors, agents fluent in Mandarin and Cantonese and who understand the culture are still hard to come by, according to real estate professionals specializing in the Asian market. Addressing a roomful of peers at the Trump National Doral Country Club, ISG International broker Nina Fabbri said recruiting brokers who can sell Miami to the Chinese is a bit of a challenge because it’s still a new market for investors from the Far East. “We have been able to find agents...
read morePhillip Frost’s $100M gift to University of Miami to create Frost Institute
A $100 million gift to the University of Miami by Dr. Phillip Frost, South Florida billionaire and CEO of biotechnology firm Opko Health (Nasdaq: OPK), will be used to create the Frost Institute for Science and Engineering. The institute will work to help solve some of the world’s “most pressing problems” by elevating STEM — science, technology, engineering and mathematics. “Patricia and I are committed to making Miami a hub for technological and scientific innovation, which is the main reason for our support of basic and applied sciences and...
read moreAmerican Express opens $200M employment center in Sunrise
American Express has completed its 400,000-square-foot operations center in Sunrise, where plans to employ 3,000 people. American Express will employ 3,000 people at its new Sunrise office. The massive building at 1500 N.W. 136th Avenue is 888 feet long and is situated on a 40-acre site where 675 trees were planted and a lake was dug. Suzanne Heidelberger, senior VP of global real estate and workplace enablement for the financial company (NYSE: AXP), said 3,000 people will work there. Employees in the customer care call center, financial...
read moreMiami International Airport reports record passengers for 7th consecutive year
Miami International Airport in 2016 broke its all-time record for number of passengers, with 44.6 million travelers passing through its terminals last year. That’s an increase of 234,000 passengers over 2015, the airport said Monday. It’s the seventh consecutive year that MIA has broken its own record for its total number of travelers. “MIA’s continued growth in 2016, especially in the face of severe challenges to tourism locally and throughout our world region, is very encouraging,” said Miami-Dade County Mayor...
read moreNike Miami Opens, Delivering Future of Sport Retail
MIAMI BEACH, Fla.–(BUSINESS WIRE)–NIKE, Inc. (NYSE:NKE) will open Nike Miami, its newest retail experience tomorrow, Thurs., Jan. 19. The two-story, multi-sport store is digitally connected across more than 31,000 sq. ft., and is located at 1035 Lincoln Rd., in the heart of the City of Miami Beach’s shopping district. The new Nike Miami is designed to deliver the best of Nike products and personalized services through a series of unique spaces. Guided by a team of highly trained Nike store athletes, Nike Miami offers personalized,...
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