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Miami Beach retail center on Alton breaks ground
This retail project at 1824 Alton Road in Miami Beach will be anchored by Michaels Stores. The majority of this project is pre-leased. New York and Aventura-based Saber Real Estate Advisors bagged a $22.25 million construction loan for a new South Beach retail development. Property records show FirstBank provided the financing to Saber 1800 LLC for the property at 1824 Alton Road. Saber, led by former Blackstone and Related Companies executive Michael Klinger, also broke ground on the five-story, 110,000-square-foot project. Michaels Craft...
read moreThe very wealthy heading to South Florida
$2,600,000,000. That’s the net worth it takes to be among the top 25 wealthiest Floridians. Most of us can’t imagine that level of wealth. When we printed a similar list just four years ago, it took “only” $1.2 billion to crack the top 25 — less than half of this year’s figure. Even Secretary of Commerce Wilbur Ross, with a net worth of $2.5 billion, missed the cut. Why is that? For one, more of the truly wealthy are gravitating to Florida. As editor Mike Vogel points out, Florida has no state income tax, no city/county income tax, no state...
read moreSteve Wozniak to headline eMerge Americas conference in Miami Beach
The “Wonderful Wizard of Woz” has been announced as the keynote speaker of the fourth annual eMerge Americas conference in Miami Beach. Steve Wozniak, co-founder of Apple Inc. (Nasdaq: AAPL), will headline the June 12-13 convention taking place at the Miami Beach Convention Center. Last year, there were more than 13,000 attendees, 400 companies and 110 startups at the event. Wozniak and the late Steve Jobs are widely known as pioneers of the personal computer revolution and created what is currently the No. 3 company on...
read moreTop Cities For Millennials | Millennial Hot Spots Miami is the second most desired city
Despite a lack of affordable and workforce housing, Miami just ranked as the second top city for millennials. Realtor.com’s list of millennial hot spots was led by Salt Lake City, Miami, Orlando, Seattle, Houston and Los Angeles. The report looked at the largest 60 markets in the country and compared the share of millennial page views to the national average from August to February. Millennials between the ages of 25 and 34 represent 13.1 percent of the Magic City’s population. Tourism and entrepreneurship attracts millennials to Miami,...
read moreSouth Florida poised to benefit from Trump’s $1 trillion infrastructure plan
South Florida’s goal to transform into a car-optional region could receive a sizable boost should the Trump administration’s proposal to invest $1 trillion into America’s infrastructure turn to reality, says a local infrastructure expert. A direct beneficiary of the capital injection would be Coral Gables-based Florida East Coast Industries, whose passenger rail project Brightline could be enhanced by improved public resources, says attorney Mitch Bierman, a partner with Weiss Serota Helfman Cole & Bierman. Brightline will run...
read moreCruise line executives remain bullish about industry growth
The cruise industry has come a long way in 10 years and leaders of major lines Tuesday predicted more growth in the foreseeable future provided no major geo-political or cruise-related incidents derail the momentum. This year, 25.3 million people are expected to take a cruise globally, up from 15.8 million people in 2007, marking a 61 percent growth in cruise passengers over the decade, according to the Cruise Lines International Association, the leading industry trade group. On Tuesday, during the opening session of the Seatrade Cruise...
read moreCity National Bank of Florida sells Miami Beachmoffice to Pacific Star Capital
The deal includes two acres of land. City National Bank of Florida sold its Miami Beach branch and office building to a commercial real estate firm for $24.59 million. The Miami-based bank, a subsidiary of BCI in Chile, sold a three-story and a six-story office building to Oliveira Plaza Associates LLC, an affiliate of Pacific Star Capital, which is based in Santa Monica, California and has an office in Miami. The property has 81,252 square feet of offices, which were constructed in 1948 and 1972, plus a drive-thru. The deal covered… Click...
read moreScience Museum Is Ready To Open In May, With 700K Annual Visitors Expected
Finally, the Frost Museum of Science has opening date. The $305 million museum will open to the public for the first time on May 8 after years of planning and construction. The highlights of the museum include a three-level aquarium, and a cutting-edge planetarium. According to the Herald, 700,000 visitors are expected annually. Annual memberships will cost $65 for an individual or $145 to $195 for families, with single day tickets $28 for adults and $20 for children. Click through for more details.
read moreWhat is happening with the worlds ultra wealthy?
From the New York website: The number of ultra-high net worth individuals — those with assets of $30 million or more who’ve got the funds to purchase the world’s most desirable properties — jumped 42 percent over the past decade to 193,000 worldwide, according to a new Wealth Report from Knight Frank. New York City is home to more than 6,500 of these individuals, more than any other city in the world, the report shows, and the city is poised to see that number swell to over 8,500 by 2026. On an annual basis, that’s 8,225 new UHNWIs each year...
read moreBal Harbour Shops sweetens offer to village in drive for expansion
The owner of the Bal Harbour Shops has modified its $400 million expansion plans to provide benefits for the village of Bal Harbour, including the construction of public buildings and donated land. Whitman Family Development said its proposed development agreement would provide more than $100 million in benefits to the village. In exchange, it wants approval to expand the mall by 340,387 square feet on its current footprint. The Bal Harbour Shops already totals 463,477 square feet, so this would be a major expansion. The developer would add a...
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