The $1 billion transit-oriented community will rise across from Miami-Dade County’s SMART Plan Dolphin rapid transit station as part of a public-private partnership.
Currently home to two vacant multifamily buildings, the property will be demolished to make way for a new high-end development featuring exclusive residences.
Here are the most popular news headlines this past week on CRE-sources.
The office building will be the only Class A office building in Miami to offer private boat access and dockage.
The small-bay light industrial buildings were 95% leased at the time of sale to 42 tenants.
The property was acquired as part of Stiles’ recently announced acquisitions strategy, which targets value-add retail properties in Florida. A detailed renovation is scheduled to begin early 2025.
The buyer plans to develop the property into a 4-building self-storage facility, with plans already approved for a 150,000 square foot self-storage complex.
The four-story, 93,219-square-foot boutique office building traded for $20 million.
Native has more than tripled its number of brokers in the past year and is actively interviewing senior commercial real estate brokers in Broward and Palm Beach counties.
The park encompasses four warehouses that are 65% leased to six tenants.