This Week's South Florida Deal Sheet
An Israeli coworking firm has secured a decadelong lease at 100 Biscayne, a 30-story commercial building that overlooks Bayfront Park.
Mindspace signed a 32K SF lease and will offer 450 work areas at the building, which is owned by New York real estate firm RFR, a property investment firm hailing from New York, the South Florida Business Journal reports.
CBRE represented the landlord while JLL represented the tenant. This is the second location Mindspace is opening in Miami. In August, the coworking provider secured a 30K SF lease in The Gateway at Wynwood building.
SALES
Harbor Group International has acquired an apartment community in Miami Gardens for $113M. The Virginia-based investor bought the 420-unit development known as Oak Enclave Miami on Dec. 29 from Resia, a firm owned by Brazilian-based developer MRV, the South Florida Business Journal reports. Cushman & Wakefield brokered the deal.
The 14-acre parcel includes five apartment buildings and features a 24-hour gym, a play area, a pool and a clubhouse. The Oak Enclave Miami at 2301 NW 167th St., which is close to the Golden Glades Tri-Rail station, was completed in June.
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Orion Real Estate Group and Limestone Asset Management have acquired the Colonial Palms Plaza Shopping Center in Pinecrest for $70.5M.
A client of MetLife Investment Management was the seller of the 189K SF retail property at 13605-13619 South Dixie Highway. The price on the deal, brokered by the JLL Capital Markets team of Danny Finkle, Eric Williams, Jorge Portela and Kim Flores, came out to $374 per SF. Orion and Limestone financed the deal with a nearly $46M loan from Goldman Sachs for nearly $46M, the South Florida Business Journal reports.
The shopping center, built in 1988, is leased to tenants including PetSmart, Visionworks, CycleBar and Old Navy. The space is 97% leased.
Ares Management has acquired a development site in Hialeah for $111.1M with plans to construct an industrial complex.
The Ares Industrial Real Estate Income Trust purchased the 52-acre parcel at 4010 West 104th St. and plans to develop more than 620K SF across three buildings, The Real Deal reports.
Ares looks to build two 214K SF buildings, while the third will be 193K SF. The REIT also indicated plans to develop smaller office and warehouse buildings that will range between 21K SF and 57K SF, TRD reports.
The industrial company has already filed documents listing at least four potential tenants interested in leasing the space upon completion: Zafco International, Mitsubishi Logistics America, food wholesale distributor Allied DBD and countertop store Terry Stone.
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Coral Gables investor Maria Menzel is expanding her CRE footprint in the bustling Edgewater neighborhood in Miami. Menzel acquired a 0.7-acre site for $12.5M at 432 NE 27th St., Commercial Observer reports. The seller was a Canadian company, 35 Oak US 3 Inc., with ties to William Weiner.
CBRE's Benjamin Silver and Leslie Maister represented the seller of the property, located a block from Biscayne Bay. Weiner bought the site for $8.3M in 2015. It is zoned to allow development up to 36 stories and 382K SF.
PERSONNEL
NAI/Merin Hunter Codman, a West Palm Beach-based CRE brokerage, has hired Matthew Brown as chief operating officer, the firm announced.
Brown will be spearheading acquisitions, brokerage and property management deals. Previously, he served as chief investment officer at New York City firm Dabby Investments. Before that, Brown spent six years at Colliers where he worked as a managing director of investment sales, The Real Deal reports.
