MIAMI-The Downtown and airport areas are stable, while the Brickell and Coral Gables submarkets are improving and Miami Beach is on the decline, according to a new CB Richard Ellis market update.
CORAL GABLES, FL-The real estate company, based here, also had a one-third jump in revenue and a rise in net income per diluted share to $2.11 from 64 cents in 2002.
MIAMI-The residential tower, being developed by Star Lofts Associates, will offer 48 lofts, three to a typical floor. Available lofts range from the mid-$500,000s to $2.3 million. The units have an expected delivery of summer 2005.
MIAMI-Edgar C. Jones Jr. has become senior director of Florida operations for the New York-based commercial real estate owner, developer and manager. Besides marketing, leasing and developing the company's South Florida projects, he will look for new opportunities statewide.
SUNRISE, FL-Florida's largest retail and entertainment center was scheduled to begin interior and exterior renovations this week. In addition, the Mills Corp. submitted plans to the city to expand the retail center by 110,000 sf, which would bring its total size to 2.3 million leasable sf.
POMPANO BEACH, FL-The family-style restaurant chain paid Atlantic Business Center about $18.99 per sf for the 79,000-sf site here. Golden Corral, which operates in 38 states, is actively looking for other restaurant sites in South Florida.
MIAMI BEACH, FL-The financing for Southgate Towers was provided by John B. Levy & Co. Inc., a real estate investment banking firm in Richmond, VA. The 539-unit property was developed in 1959.
PALM BEACH GARDENS, FL-A $6-million renovation is in store for the 248,879-sf office complex here. Upgrades are planned to include a new plaza entranceway, new landscaping, refinished building exteriors and fountains, new carpeting and wall finishings, and washroom upgrades.
SUNNY ISLES BEACH, FL-The Coral Gables, FL, firm will start building the 42-story, 326-unit oceanfront condominium tower, being developed by Cornerstone Premier Communities, next month. Delivery is planned for June 2006.
HOLLYWOOD BEACH, FL-A joint venture of Centrum Properties and MCZ Development, 2501 Ocean LP, were the developers of the Wave on Hollywood Beach, which is selling residences from $135,900. The project consists of 551 units.