Miami
Benihana to Sell 13 Restaurants for $47M; BMI Refinances Town Center One
Miami-based Japanese restaurant chain Benihana held the headlines this week after signing a deal with Cole Real Estate Investments to sell 13 of its locations for $47.4 million. Benihana, which plans on leasing back the properties, made the announcement in its public filling earlier this week but has yet to mention the location of the restaurants.
Brookdale Affiliate Buys Four-Building Office Portfolio in Sunrise
An affiliate of the sixth investment fund of The Brookdale Group recently purchased an office portfolio consisting of four Class A buildings totaling 344,260 square feet in Sunrise, Fla.
Miami Center Trades Owners; Crocker Pays $262M for Trophy Tower
Miami’s best-known office address, 201 South Biscayne Drive—where the Miami Center stands—has just traded for $262.5 million in what the Wall Street Journal calls the deal of the week. Boca Raton-based Crocker Partners purchased the 35-story building from Sumitomo Corp. of America, a unit of the Japanese global trading firm Sumitomo Corp.
With 90 Percent of Units Sold, BrickellHouse Goes Vertical
July 18th marked the construction start for one of Downtown Miami/Brickell’s first luxury residential developments since the 2008-09 economic downturn—the 48-story BrickellHouse condominium development.
Miami Beach Lincoln Center Sells for a Surprising $132M
The 127,000-square-foot Lincoln Center can pride itself with new owners, as VCP Lincoln Road—an affiliate of New York-based REIT Vornado—recently purchased the property for a reported $132 million.
Groundbreaking Ceremony Held for Swire’s Brickell CitiCentre
The long-awaited, large-scale, mixed-use Brickell CitiCentre development is finally underway, as developer Swire Properties broke ground on the project on June 28—with the company’s chief executive Martin Cubbon hosting the ceremony.
Dizengoff Sells Bulk Portfolio for $25.4M; Breakers Capital Buys West Palm Beach Building
The real estate arm of Dizengoff-Trading Group has sold its South Florida bulk portfolio for $25.4 million, reports CoStar. The portfolio, comprised of two properties—Portofino at Jensen Beach and Courtney Park in Lake Worth, consists of 283 condo units overall.
Trump Studio City May Rise in South Miami-Dade
South Miami-Dade could be home to a major film production studio, built by Donald Trump, if the plan pitched to the county commission last Tuesday gets approval.
‘Magic’ Johnson, Canyon Partners Return to Miami with Plans for New Walmart-Anchored Center
Miami’s Flagler Corridor will soon have a new Walmart-anchored shopping center, as Canyon-Johnson Urban Funds has recently purchased a 32-acre parcel in this respect in an all-cash transaction.
Florida Crystals and IDI Form Strategic Alliance for South Florida Intermodal Logistics Center
Florida Crystals Corporation and IDI—one of the largest privately held logistics real estate companies in North America—have entered into a strategic alliance for the planning and marketing of the South Florida Intermodal Logistics Center in western Palm Beach County.