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South Florida Business Journal
Warehouses more than double in value with $24M sale
A pair of warehouses in Pompano Beach sold for $23.85 million, more than doubling in value from their last trade. BCI IV Pompano IC LLC, an affiliate of Denver-based Ares Industrial Real Estate Income Trust (AIREIT) sold the warehouses of 79,329 square...
Pulte plans townhome community on former bank site
PulteGroup (NYSE: PHM) wants to replace a former bank branch in Juno Beach with a townhouse community. The town’s Development Review Committee will consider the rezoning, comprehensive plan amendment and site plan for the 4.7-acre property at 13951...
Company to cut operations, jobs at Broward County facility
A company that manufactures and distributes medical equipment will be cutting operations at a Coral Springs facility. Northfield, Illinois-based Medline Industries, LP will cease almost all operations at a flex commercial space at 3952 Coral Ridge Drive...
Goldman Sachs veteran joins NextEra Energy's C-suite
NextEra Energy Inc. named a longtime Goldman Sachs executive to its C-suite. Brian Bolster was appointed executive VP for finance and chief financial officer for the Juno Beach company, succeeding Kirk Crews. Crews transitioned to the role of chief...
Steward Health Care, owner of 5 local hospitals, files for bankruptcy
Dallas-based Steward Health Care, a national hospital operator with five hospitals in South Florida, filed Chapter 11 reorganization on Monday. The company operates more than 30 hospitals in eight states. It’s been facing financial challenges in recent...
Landlord wins $3.5M judgment against Collins Avenue hotel operator
A landlord in Miami Beach won a judgment of nearly $3.5 million against a publicly traded hotel operator in a lease default case. Plaintiffs 1238 Collins Avenue Corp. and Azco Investments, LLC sued LuxUrban Hotels Inc. (Nasdaq: LUXH) in February with...
Related Group, partners obtain $90M loan for Wynwood condo (Photos)
The developers of the NoMad Residences Wynwood condo in Miami obtained a $90 million construction loan to move forward with the project. Kennedy-Wilson Capital and United Fire Insurance Co. teamed to assume the $22.3 million mortgage that Comerica Bank...
Reveal: SFBJ's 2024 40 Under 40 honorees – Part 1
The South Florida Business Journal is proud to announce the first round of its 2024 40 Under 40 honorees. The award recognizes 40 outstanding professionals under the age of 40 based in Miami-Dade, Broward and Palm Beach counties for their leadership,...
Hospitality Tracker: Brickell City Centre to welcome NYC burger joint
Black Tap Craft Burgers & Beer is targeting a June opening at The Shops at Brickell City Centre. The New York-based restaurant that’s famous for its over-the-top burgers and milkshakes is prepping its first Miami outpost at the upscale mall, which...
Tech & Inno Tracker: NextEra CEO on data centers and renewable power
Data centers are creating enormous demand for renewable power, NextEra Energy Inc. reports. The Juno Beach-based company said subsidiary NextEra Energy Resources had its second-best quarter ever for new solar and battery storage originations in early...
CRE Tracker: Office building almost fully leased after Apple deal
Plaza Coral Gables’ 291,000 square feet of Class A office space is almost fully leased after Apple secured space within the mixed-use complex. Agave Holdings LLC, Plaza Coral Gables’ developer, stated in a release that construction on Apple Inc.’s...
In the Pipeline: Four Seasons coming to Coconut Grove
CMC Group and Fort Partners have revealed plans for a Four Seasons-branded condo in Coconut Grove. The Four Seasons Private Residences Coconut Grove would feature 70 condos in 20 stories at 2699 S. Bayshore Drive. The 1.2-acre site – across from Regatta...
Private equity exec buys waterfront mansion for $20M (Photos)
Peter Scannell, the president of private equity firm Rockwood Service Corp., and wife Jean Scannell paid $19.6 million for a waterfront mansion in the Lost Tree Village community near North Palm Beach. David Gregory Horrigan, a co-founder of Stamford,...
Developer of Florida's tallest building dies
Tibor Hollo, a prolific developer who built the tallest tower in Florida and forged much of downtown Miami's skyline, has died at the age of 96. Hollo passed away this week. A service was held on Friday, May 3. "The Hollo family is grieving the loss...
Miami commission to amend abandoned building law, and add extra fees
The Miami City Commission is slated to vote on an amended abandoned building ordinance that will charge some property owners extra fees for registering their empty structures. The amended ordinance, proposed by Commissioner Manolo Reyes, was unanimously...
9 Openings: Palm Beach restaurant coming to Coral Gables and more
Chef Clay Conley's acclaimed Palm Beach restaurant Buccan is among South Florida's highly anticipated openings as the restaurant expands to Miami-Dade County. MAS AJP, a local real estate investment and development firm, and Day Pitney, a local law...
Ground floor of Wynwood building sold for $23M
Property Markets Group sold the ground-floor commercial space at the new Society Wynwood apartment complex in Miami for $22.5 million. A partnership between local real estate investors Tricera Capital led by Ben Mandell, LNDMRK Development led by Alex...
98-year-old mansion near the ocean sold for $60M
A 98-year-old mansion one lot from the ocean in Palm Beach sold for $60.37 million, registering a big gain in value. The 9,653-square-foot home at 130 Banyan Road was sold by 130 Banyan LLC – managed by local attorney Maura Ziska but controlled by...
Inside the SFBJ's 2024 CFO Awards (Photos)
About 200 people came together to celebrate exemplary financial executives at the South Florida Business Journal's 2024 CFO Awards, held Thursday in the Sport of Kings Theater at Gulfstream Park in Hallandale Beach. Seventeen of the tri-county region's...
Brightline ends monthly passes. What's next for local commuters?
Brightline will discontinue its monthly passes, popular with business commuters, by the end of May. The Miami-based high-speed rail company notified customers that it will end its $399 SoFlo Solo Pass, $229 SoFlo Shared Pass and $1,199 All Station Shared...
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