The property is nearly fully leased, with two new long-term leases from Presidente Supermarket and dd’s DISCOUNTS anchoring the center alongside established national brands like T-Mobile, Chase Bank and McDonald’s.
Here are the most popular news headlines this past week on CRE-sources.
Here are the most popular news headlines this past week on CRE-sources.
A significant investment of approximately $12 million—contributed equally by the State, the City, and the Ritz-Carlton South Beach—is being dedicated to enhancing infrastructure, implementing art and landscaping, creating pedestrian-friendly streets to harmonize with the rest of Lincoln Road.
Richard Henry, Mike Ryan, Brian Linnihan, and JP Cordeiro with CBRE Capital Markets’ Debt & Structured Finance represented the borrower, SJC Ventures.
The Miami Beach retail market continues to demonstrate strong fundamentals, with average submarket occupancy currently at 95%.
Here are the most popular news headlines this past week on CRE-sources.
SJC Ventures, in partnership with Nuveen Real Estate, plans to break ground in fall 2024 on the new development that will comprise an 88,938-square-foot mixed-use center, featuring retail stores, restaurants and service-driven businesses.
Together, they will elevate and maximize the company’s existing properties, while also providing new and innovative opportunities.
The acquisitions total $15.5 million.