MIAMI-Terms of the deal are confidential but rents have shot up to $35 per sf from $30 per sf since Codina Realty Services began marketing the 30-story, 525,000-sf structure two years ago. Pre-leasing is at 80%. The building opens in November.
PORT EVERGLADES, FL-A $2.88 million-per-year land lease for seven years to AutoTerminal America, the US subsidiary of a New Zealand firm, is the first deal Broward has made at the 272-acre Southport tract.
BOCA RATON, FL-South Florida commercial occupancies are now so strong at steadily rising rents that owners are reluctant to sell for anything less than top dollar, Keith O'Donnell, director of Codina Realty Services' Palm Beach County Division, tells GlobeSt.com in an exclusive interview.
FORT LAUDERDALE, FL-The county is losing an average 100 acres of raw land a month to all types of construction. Fearing excessive development, local government will seek voter approval Nov. 7 to borrow $400 million for green-space preservation.
MIAMI-After two years of talks, locally-based Howard Snoweiss Design Group is linking with RTKL Associates. Terms of the deal were not disclosed. Snoweiss specializes in corporate, hotel and cruise-ship interiors. RTKL has a global design practice.
MIAMI-A boutique hotel slated for the parking lot adjoining the historic Coconut Grove Playhouse will probably not be built. Instead, the theater is negotiating a lease on the state-owned land to accommodate its own expansion.
PEMBROKE PINES, FL-More theater closings could spell trouble for the shopping centers involved beyond the problem of filling hard-to-rent space. They could also trigger shutdowns of neighboring tenants that depend on theatergoers for much of their customer traffic.
FORT LAUDERDALE, FL-This city's increasingly unfriendly attitude toward lofty Downtown construction has led the Related Group of Florida to drop its plans for a 38-story apartment tower on East Las Olas Boulevard.
MIAMI-The real estate services firm has purchased U.S. Commercial Realty Group of Miami for an undisclosed price. The deal gives CB eight new brokers and sets the stage for opening a West Dade branch to service the Medley, Miami Lakes and Airport West submarkets.
MIAMI-Codina Construction has started a 140,000-sf build-to-suit office/industrial facility for the locally-based distributor in Beacon Station at Gran Park here. The estimated hard construction cost is $14 million. Completion is expected by next September.