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Sarasota Multifamily Construction Boom Continues
Pictured: Bold Lofts in Sarasota, FL. Construction on the 97-unit apartment complex is slated to be completed this August. As with much of Florida, Sarasota was late to fully emerge from the Great Recession. However, unlike most of the state, multifamily...

Newmark Adds to Valuation/Advisory Practice with New Teams, Hires in NYC and Florida
Newmark Knight Frank (NKF) has announced the addition of two new valuation and advisory teams based in New York City and the Florida markets of Boca Raton and Miami. The newly formed Tri-State team includes industry veterans Matt Victor, Joe Ferranti...

H&R REIT Agrees to Sell $633 Million U.S. Retail Portfolio
Pictured: A Home Depot in Strongsville, OH, one of 63 retail properties H&R REIT is expected to sell this June in a $633 million deal.Toronto-based H&R Real Estate Investment Trust said Monday it has entered into an agreement to sell 63 retail properties...

Shopping and Entertainment Mecca in South Florida Nearing Final Approvals
American Dream Miami in northwest Miami-Dade County will feature 3.5 million square feet of retail space and 1.5 million square feet of destination entertainment.Credit: Triple Five Worldwide As South Florida awaits word on its chances to land Amazon...

Post-Irma Naples Office Market Fundamentals Slip
The Naples office market had tightened considerably throughout the recovery and expansion period, reaching a cyclic-low 5 percent vacancy in the third quarter of 2017. However, in the aftermath of Hurricane Irma, fundamentals have loosened by more...

Cranes Again Dotting the Skyline in Miami, Fort Lauderdale Metros
The Miami metro has clearly led new office deliveries over the last three years. While new office construction has been mostly muted over the current economic cycle, it has started to pick up across the Miami and Fort Lauderdale metros over the past...

'I'm Doing My Part': Lottery-Winning Developer Making Mark in Fort Lauderdale
Developer Miguel Pilgram is planning a Memphis Blues lounge as part of a redevelopment effort in Fort Lauderdale’s Sistrunk neighborhood. Credit: The Pilgram Group. Miguel Pilgram was a cruise line security executive and, before that, a Navy man. But...

Lennar Homes Acquires Additional Land on Oil Well Road
Lennar acquired 27 additional building lots totaling 167.7 acres on Oil Well Rd. in Naples, FL from Rockpoint Group LLC for $2.71 million, or about $16,000 per acre. The land parcels are in the Outlying Collier County submarket. These lots comprise...

CoStar Market Insights: Wynwood’s Booming Construction Pipeline Spurred by New Zoning Laws in Arts District
For the past decade, the once rundown neighborhood of Wynwood has been undergoing a revitalization at a breakneck pace. In 2009, the debut of the Wynwood Walls open-air mural park positioned the neighborhood as a top tourist attraction, and the resulting...

Olympia Park Bldg Sells for $5M
A private investor acquired the Olympia Park retail building at 2320 Vanderbilt Beach Rd. in Naples, FL for $4.95 million, or about $184 per square foot, from PF Holdings, Inc. Located just west of Airport Pulling Road, the 26,858-square-foot building...

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