Florida Commercial Real Estate News Roundup 2022

Jan 03
Florida Commercial Real Estate News Roundup 2022

Here are the highlights from Florida Commercial Real Estate News in 2022.


Florida Commercial Real Estate News – Q4 2022

The update for Q4 2022 includes: retail real estate trend prediction for 2023, Miami featured in Forbes, the record-breaking amount of companies moving to Miami-Dade, and two $1B projects in the area.

CRE Experts Predict Retail Real Estate Trends for 2023

MMG Equity Partners reached out to several CRE professionals to add their insights for retail real estate trends in 2023. Read More

A Record-Breaking 57 Companies Moved Headquarters or Expanded to Miami in 2022

Miami-Dade County saw a record amount of companies move to the region to call the place home. Many more companies are projected to move during 2023 as well. Read More

Miami Ranked In the Top 10 Places to Live in Florida by Forbes

Forbes compiled a list of the best places to live in Florida, and Miami made the cut for various economic reasons along with the opportunities the area presents for its citizens / residents. Read More

Miami CRE Experts Highlight the City’s “Economic Halo”

BisNow covers the potential recession feared by many CRE experts nationwide, and highlights the optimistic outlook of commercial real estate professionals in Miami regarding the city’s resilience and “economic halo”. Read More

Chetrit Group Begins Work on $1B River District Development Project

A Miami mixed-use project, The River District, that was originally planned years ago and was quiet during this time finally broke ground. Read More

Resia Proposes 900+ Multifamily Project in Miami-Dade Metrorail Station

Resia has already submitted the proposal for the apartment project to the county. It is pending “striking a land lease” with the county to move the project forward. Read More

Miami-Dade Industrial Park Sells for $198M

Dolphin Commerce Center in Miami-Dade County switched hands for nearly $200 million. The property covers over 37 acres total. Read More

Former Miami Herald Site Listed for $1B

The site, which is right on Biscayne Bay, had been listed by Genting Group for $1B. The developer planned to build a gambling resort, but the original plans fell through. Read More

Packaging Design Firm Inks Lease for HQ in Plantation, FL

Smurfit Kappa, a leader worldwide in paper-based packaging services, is moving its U.S. HQ to Royal Palm Business Campus in Plantation, FL. Read More

Limestone, Orion Purchase Miami Retail Center for Over $70M

Metlife Investment Management sells Pinecrest FL retail property, Colonial Palms Plaza. The purchase is another sign of Limestone and Orion’s expansion in Pinecrest (part of Miami-Dade County). Read More

Florida Commercial Real Estate News – Q3 2022

The update for Q3 2022 includes: a massive $1B redevelopment project, several CRE acquisitions, and big multifamily property deals.

$1 Billion Redevelopment Project Revealed for Southland Mall Site

This massive redevelopment project is slated to be completed over the next seven years. The site is 20 miles south of downtown Miami and covers 80 acres. Read More

$148M Loan Acquired for Two-Tower Multifamily Project in Hialeah

MG Developer and Baron Property Group, in partnership with Township Capital, secured $148 million for a construction loan of a multifamily asset in Hialeah, FL. Read More

Related Group Forks Over $100 Million for Last Available Condo Site on Fisher Island

Fisher Island, an exclusive island with limited spaces available, will be the new site of a multifamily project to be built by Related Group. Read More

Tampa-Based Firm Acquires Phoenix Multifamily Asset for $93M

American Landmark, a Tampa-based CRE firm, just purchased another commercial real estate project in Arizona. It recently acquired its first property in the region in July. Read More

Hines Acquires Mixed-Use Building in Coral Gables for $430M

Gables Station, a 1.2 million-square-foot development in Coral Gables was recently acquired by Hines for $430 million. It’s one of the biggest deals in South Florida for 2022. Read More

State Street Seals Over 427K SF of CRE Deals

State Street Realty recently completed sales and lease deals with over 427,000 square feet of space and over $55 million in value. Read More

Miami Gardens Town Center Plan Submitted

The mixed-use project in Miami Gardens will include apartments, hotels, and entertainment / retail spaces. Read More

Starwood Set to Purchase Miami Beach Office Assets

The Miami Beach office property on Michigan Avenue in Miami Beach is set to set at a loss according to South Florida Business Journal. Read More

Florida Commercial Real Estate News – Q2 2022

The update for Q2 2022 includes: two major CRE projects for MMG, asset acquisitions in the region, interest rates in 2022, and more.

Miami-Dade Market Posts Sixth Consecutive Quarter of Positive Net Absorption

According to  Marcus & Millichap’s Q2 report, the city of Miami-Dade continues to experience record levels of domestic tourism as well as an influx of new residents, with its markets flexing their retail demand muscles with six consecutive quarters of positive net absorption. Read More

F1 Miami Race Launches 10-Year Run Of Generating ‘Huge Demand’ For Real Estate

Formula 1’s popularity in the U.S. continues to skyrocket off the back of a viral Netflix series, and now the attention is translating into more American races, complete with well-heeled visitors from around the world potentially boosting the real estate market in three already hot U.S. cities: Austin, Miami and Las Vegas. Read More

Spanish Fashion Retailer Plans To Open 30 New U.S. Stores By 2025

Spanish fashion retailer Mango plans to open 30 stores in the U.S. within the next three years, bringing its total to 40 by the end of 2024. The fashion giant laid out a three-phase plan for expansion into the U.S in an announcement in May, with the first stage including the opening of its flagship store, located at 711 Fifth Ave. in New York City. Read More

Developer Breaks Ground on Apartments at Coral Square Mall with $37M Loan

Ascend Properties is building the Metropolitan Coral Square apartments at the Coral Square Mall in Coral Springs. The project will rise eight stories. Read More

Berger Commercial Secures More Than 106,000 SF in Lease Transactions

Vice President Jonathan Thiel and Sales Associate Daniel Forman recently represented the landlord, Mancini & Sons in leasing 106,544 square feet of space to tenants in two buildings at the Enterprise Commerce Center in Deerfield Beach. Read More

Duke Realty Inks Its Largest Lease Deal in South Florida

The company announced the start of the 501,224 square foot speculative development in May 2021. The building is now 100 percent leased. Read More 

Redfin Report Shows That Miami and Tampa Are Where Most Want to Live

The reported net inflow in April and May make them prime destinations. The report detailed that inApril and May about one-third of those surveyed were looking to change metro areas with most looking to Miami and Tampa. Read More

Availability Sparse in Miami Apartment Market

It has never been more difficult for residents to find a vacant apartment in Miami-Dade. Marcus & Millichap ranks it second in the country, with new residents there likely to rent, but most often in luxury properties. Read More

Electra America, BH Group Buy Miami’s Southland Mall For $100M

A joint venture by the companies acquired the Southland Mall in the Cutler Bay section of Miami-Dade County, approximately 20 miles south of downtown Miami. The partners paid $100.35 million to purchase the 808,776-square-foot mall located on approximately 80 acres of land. Read More

Florida Commercial Real Estate News – Q1 2022

The update for Q1 2022 includes: two major CRE projects for MMG, asset acquisitions in the region, interest rates in 2022, and more.

City of Sunny Isles Beach Acquires Navarro Pharmacy Building from MMG for $16M

In a unique transaction MMG Equity Partners donated a property located at 18500 Collins Ave to the City of Sunny Isles in exchange for transfer development rights (TDR’s). The total consideration paid by the city to an entity controlled by MMG was $15,826,875. Read More

Related Group, 13th Floor Offer $500M to Acquire Miami Beach Condo

The Miami Beach Condo was formerly the Playboy Plaza Hotel, and the proposed plan is to tear it down for a new development. Read More

Sperry CGA I RJ Realty Negotiates Sale of Retal Plaza in Oakland Park

Managing Director / Broker of Sperry CGA I RJ Realty, Ron Osborne, negotiated the sale of an Oakland Park retail plaza located at 1504 – 1538 E Commercial Blvd. Read More

What Do the Locations of the Biggest Office Towers and Corporate Campuses This Year Say About the Current Office Market?

It’s no secret that the office market across the United States was hit hard by the pandemic. South Florida Business Journal covers the largest office projects being delivered in 2022, and look into what the implications of those developments means for the post-pandemic office market. Read More

MMG Assembles 10.4 Acres in Plantation, FL with $3.5M Acquisition

MMG Equity Partners has acquired 8190 W Sunrise Blvd, a 4.83-acre site on W Sunrise Boulevard, just West of N University Drive in Plantation, FL. The property consists of a 19,178 sf office building built in 1974, occupied by Bank of America. Read More

Grocery Store-Anchored Retail Center in West Palm Beach Trades Hands for $25M

The Shoppes at Palm Coast Plaza in West Palm Beach sold for more than double the value of its last transaction. Read More

SVN Commercial Partners Negotiate Sale of Margate Retail Plaza at More Than 2x Previous Sale Price

SVN Commercial Partner’s Elon Gerberg negotiated the sale of Coral Gates Plaza in Margate for over $2M, or $189 / square foot. Read More

NFTs Are Making Noise in Commercial Real Estate

NFT, the buzzword that you may have heard about during the last year in tandem with the rise of cryptocurrencies is starting to factor into CRE. Florida restauranteurs are tapping the tokens from NFTs for new brick-and-mortar retail projects. Read More

CPP Investments and Lennar Corp Form Multifamily JV Valued at Nearly $1B

The multifamily-focused joint-venture between CPP Investments and Lennar Corp will develop class A communities across high-growth markets in the United States, including communities around Florida. Read More

Interest Rate Hikes Are Not Expected to Have a Big Effect in “Hot South Florida Market”

The expectation of the Federal Reserve raising interest rates this year is high; however, commercial real estate professionals in South Florida don’t see this having a major effect on the “booming market”, per BisNow’s report. Read More

Top 10 Cities with Fastest Rent Growth in The United States During 2021

GlobeSt reports on the latest numbers coming out of 2021 and the markets with fastest rent growth across the country, including Miami. Read More 


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