777 South Flagler Drive and 201 Lakeview Avenue, West Palm Beach, FL
Starting 2021 with a Bang!!!
Two major sales have occurred in January, 2021 , giving this year one brisk jump start!!
First major office tower will be the purchase by The Related Company Phillips Point office towers in West Palm Beach for $282 million.
AEW Capital Management is selling the 448,914-square-foot office complex. The deal, is the largest office sale in South Florida in more than a year .
Related will pay about $630 per square foot for the buildings at 777 South Flagler Drive and 201 Lakeview Avenue.
Records show AEW paid $246 million for the two towers in 2015. They sit on more than 4 acres overlooking Palm Beach island.
Morgan Stanley, Gunster, and Akerman are among the tenants. Phillips Point is about 90 percent occupied.
111 N.E. 32nd St , Midtown Miami, FL
Midtown Miami sells for $154,350,000!!
Miami Midtown Owner LLC, an affiliate of Chicago-based Magellan Development Group, sold the 400 apartments at 111 N.E. 32nd St. to SE Midtown 5 LLC, an affiliate of Great Neck, New York-based Sterling American Property.
The price equated to $385,875 per unit.
Magellan developed Midtown Five on the 1.6-acre site in 2016. It rises 24 stories in 701,056 square feet. Amenities include a pool, wellness center, dog run, spa, game room, business center, yoga lawn, and meditation garden.
This is only January in South Florida , ladies and gentlemen!!:)
The village council voted last month for a development agreement with an entity managed by Barrington Brothers LLC, a local multifamily developer with projects in the Upper Eastside and Little Havana. As part of the agreement, Barrington, led by Arthur and Ken Barrington, will be able to build an eight-story structure with an option for two bonus stories.Read more
Fort Lauderdale-based Merrimac is now joined by Miami-based high-end apartment developer The Estate Companies. The 340-unit project, at 4 North Federal Highway, has been renamed Soleste Cityline, as in Estate Cos.’ Soleste brand of multifamily developments throughout South Florida, according to a press release. The project was originally called Trion at Dania Beach.Read more
Eighteen developers have expressed interest in building Class A office space on three municipal parking lots in Miami Beach adjacent to Lincoln Road between Alton Road and Meridian Avenue. The City put out a Request for Letters of Interest (RFLI) in November to test the waters as it seeks ways to diversify .Read more
The construction permit was filed. According to the filing, a total of 41,164 square feet of general commercial will be built over two stories.Read more
After three years of discussion, the owners of the iconic International Inn at one of the gateways to Miami Beach have reached agreement with the City to voluntarily designate the property historic in exchange for the right to build an 80-ft tall addition to the hotel. City Commissioners approved the agreement after deferring it for six months due to concerns about the hotel’s operations.Read more