NORTH MIAMI-As part of a revitalization and condo conversion, the 90-unit property is getting new entrances and lobbies, a resident business center and new elevator finishes and landings, among other upgrades.
MIAMI-And while asking rates overall have been declining, class A rents are stable and the outlook is promising, according to a new market conditions report by CB Richard Ellis. One company executive is noticing positive leasing activity now with class B space.
BOCA RATON, FL-The locally based apartment operator saw net income available to common shareholders decrease 45.7% in the quarter ended March 31, compared with the same quarter a year earlier. Total revenue grew from $56.6 million to $60.4 million for the same periods.
PALM BEACH COUNTY, FL-Menin Development Cos. is planning to begin construction on the 336,000-sf, 35-acre retail project May 19 with completion is set for spring 2005. Tenants will include Cobb Theatre, Whole Foods Market, Sur La Table, Bookbinders, Max's Grille, Big City Tavern and Addison Gallery.
NORTH MIAMI, FL-The approval of the first-phase site plans-- consisting of two residential towers with 600 to 700 units--enables Swerdlow Boca Developers to start the urban village in the city. More than 5,000 units are planned for the entire $1-billion-plus project.
FORT LAUDERDALE, FL-Taplin Development Corp. has completed the project, located on the New River here. The development includes 16 new apartment buildings with 376 units, a 10,000-sf clubhouse and a 150-slip marina.
MIAMI-The company is taking nearly 19,000 sf at Espirito Santo Plaza, which is scheduled to have a grand opening in the fall. The building, which is currently more than 80% leased, is located in the Brickell-area financial district.
WEST PALM BEACH, FL-Cypress Realty of Florida paid more than $3 million, or approximately $2.3 million per acre, to the City of West Palm Beach for a 1.3 acres on which it plans to develop the project. Details are still being worked out, but it is planned for more than 200 condominiums and more than 20,000 sf of retail.
MIAMI-George Vail comes to the real estate investment banking firm from Cushman & Wakefield's Financial Services Group. He also has held financial positions with iStar Financial and Crow Holdings.
CORAL GABLES, FL-Net income for the locally based real estate company increased from about $2 million to nearly $8.4 million from the first quarter of 2003 to the same quarter this year. Revenue also increased, from $50.5 million to $81.4 million for the same periods.
