Black Lion Investment Group Acquires Former Katsuya Space In SLS LUX Hotel & Residences Brickell For $13.5 Million

Black Lion Investment Group has acquired the former Katsuya space in the SLS LUX Hotel & Residences in Brickell from The Allen Morris Company and Related Group for $13.5 million. The 11,412 SF restaurant suite is located at 8 SE 8th St. and includes the S Bar component as well. The space can accommodate up to 180 diners and also features an outdoor patio and an exclusive private dining area. Black Lion Investment Group plans to bring in a world-class flagship restaurant to the space which they expect to open in late 2021 or 2022. The off-market transaction was overseen by Fabio Faerman and Sebastian Faerman of FA Commercial with Fortune International Group.

Black Lion Investment Group is led by Robert Rivani and has spent $38 million in Miami over the past sixty days, including the Wynwood Arcade and Amara at Paraiso. They also own the Brickell Bay Boardwalk where another restaurant concept is planned.

“Miami, and Brickell in particular, is on a trajectory to evolve into the Manhattan of the Southern United States. Black Lion is thrilled to be part of Miami’s growth story by bringing even more world-class food and beverage offerings to Miami’s already thriving dining and nightlife scene,” said the firm’s president, Robert Rivani. “We’re exuberant about redeveloping this prized restaurant space in one of the hottest markets in the country.” Mr. Rivani continued, “When you examine what people are most willing to get out of the house and spend time and money on post-pandemic, it’s largely the hospitality experiences that simply cannot be recreated at home. We’re betting on Miami’s year-round residents and visitors continuing that trend indefinitely, enjoying the unique atmosphere of this cosmopolitan city throughout the year. We’re working to identify the restaurant concept that best complements Brickell’s vibrant, electrifying spirit, whether that’s a flagship location of an existing high-end brand or an entirely new chef-driven vision.”

SLS LUX Hotel & Residences is a luxury hotel-condo tower which was completed in 2018 and co-developed by The Allen Morris Company with Related Group. The developers announced the complete sell-out of the 450-unit luxury tower in February 2018. SLS LUX Hotel & Residences is located just steps from Brickell City Centre in Miami’s Brickell neighborhood at 801 S Miami Ave. The building was designed by Arquitectonica offers a mix of 450 residences and 78 hotel suites that blend exquisite décor by Yabu Pushelberg. SLS LUX Hotel & Residences also features world-class art throughout the building and exclusive lifestyle amenities and services including a spa, gym, lower pool deck, rooftop pool, outdoor theatre, rock climbing wall and tennis court.

Images via The Allen Morris Company

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Joint Venture Led By Tricera Capital Acquires One Clearlake Centre Office Tower In West Palm Beach For $60.7 Million

A joint venture between Scott Sherman’s Tricera Capital, NDT Development, New England Development and Rockpoint Group have acquired the One Clearlake Centre office tower in West Palm Beach for $60.7 million. The seller was a joint venture between the Dallas-based real estate investment firm Velocis and CREC who had initially acquired the property in 2017 for $42.3 million. The property was 62% leased at the time of sale and the transaction was overseen by JLL. Tenants include Intech Investment Management, Coastal Wealth, Truist Financial, KRES Commercial, Northwestern Mutual and Day Pitney.

One Clearlake Centre was developed in 1986 on a 3-acre site at 250 South Australian Avenue. The building rises 18-stories and spans 221,079 SF of rentable space with a 669-space parking garage. One Clearlake Centre was renovated in 2019 and features tenant amenities a gym, lounge and cafe.

The West Palm Beach office market has seen quite a bit of movement recently. In January 2021 the New York-based Related Companies acquired the Phillips Point office complex in West Palm Beach for roughly $282 million and in May 2021 acquired CityPlace Tower for $175 million. In June Related Companies also acquired a 50% stake in the Esperanté Corporate Center from the New York-based RedSky Capital, the London-based JZ Capital Partners owns the remaining 50%.

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Supertall Entertainment Complex SkyRise Cancelled At Downtown Miami's Bayside Marketplace

The planned supertall entertainment complex SkyRise, which was slated to rise in Downtown Miami’s Bayside Marketplace, has been cancelled after the developer was unable to secure financing. The entertainment and observation tower was being developed by Berkowitz Development Group. The tower was set to rise over 1,000’ was designed by Arquitectonica. The site is set to be restored and Bayside Marketplace can work with the City of Miami to bring in another developer for the parcel.

SkyRise was first proposed in 2013 before being derailed by lawsuits and contested use of public subsidies. In 2015 the Florida Supreme Court put a stop to challenges by community activists who aimed to stop development of the project. In late 2018 it was announced that SkyRise would begin construction in Q2 2019 with Plaza Construction having been retained the contractor, but the developer was ultimately unable to secure financing.

SkyRise Miami would have featured an indoor controlled free-fall system, a “drop tower-style” ride set to hit speeds of 95 mph and a selection of observation decks overlooking Biscayne Bay, PortMiami, Miami Beach, Key Biscayne, the Atlantic Ocean and the Miami Skyline. In 2016 it was announced that Berkowitz Development Group had inked a deal with Legends Hospitality Group for day-to-day management, guest interactions, sales and marketing, as well as food and beverage operations.

The First Restaurants Opening In Downtown Miami's $4 Billion Miami WorldCenter Megaproject Are Announced

The first four restaurants coming to Miami Worldcenter, the $4 billion, 27-acre mixed-use development transforming the heart of Downtown Miami, have been announced. The development’s ownership has completed leases with Chicago-based steakhouse Maple & Ash, set to open its first location in Florida; etta, a neighborhood restaurant centered around a wood-fired hearth; Laurel Brasserie and El Vecino, both concepts by Miami chef Michael Beltran. The leases combine to over 30,400 SF of indoor and outdoor space along Miami Worldcenter’s open-air entertainment promenades and mark the first tenants to lease space in Miami Worldcenter. All four concepts are expected to open in 2022.

“Our team is thrilled to unveil a stellar lineup of restaurants opening at Miami Worldcenter, with Maple & Ash, etta, Laurel Brasserie and El Vecino setting the tone for what’s to come. These restaurants exemplify the quality of the tenants and the experience we are curating for Miami Worldcenter’s residents and visitors,” said Nitin Motwani, Managing Partner of Miami Worldcenter Associates. “Bringing to life the retail components of Miami Worldcenter’s master plan is critical to transforming our 27-acre site into a thriving open-air destination, and we look forward to announcing additional retail concepts in the coming weeks and months.

The lavish Maple & Ash offers a modern take on a traditional steakhouse. Two-time Michelin-star Chef Danny Grant presents classic wood-fired dishes while offering diners an elegantly seductive experience. At Maple & Ash’s original Chicago location, the restaurant’s wine list has been named “one of the most outstanding in the world” by Wine Spectator. Maple & Ash will be located along World Square at the corner of Miami Worldcenter’s 7th Street promenade and NE 1st Avenue, and will occupy 15,000 SF of indoor and outdoor space, with ground floor and second floor seating.

Developed by the creative team behind Maple & Ash, etta is a neighborhood restaurant that serves delicious wood-fired dishes, from gourmet pizzas and warm focaccia to crisp seasonal salads and family-style shared pig and lobster picnics. Just as the kitchen is the focal point of interaction within a home, etta’s open kitchen design gives guests the same intimate experience. With two existing locations in Chicago, each etta location features a wood-burning brick oven and a giant wood-fired hearth for spit roasting and grilling. Located along the eastern side of the 7th Street Promenade, etta will feature approximately 11,000 SF of indoor and outdoor space across two levels.

Local Miami Chef Michael Beltran, a 2020 James Beard Foundation Awards “Best Chef: South” semifinalist, will bring his new dining concept, Laurel, to Miami Worldcenter. Laurel will offer diners a novel take on a French brasserie with hints of Chef Beltran’s Cuban influence, which is evident across his multiple concepts, including his revered Ariete. In addition to Beltran’s inventive French-Cuban fare, guests will be able to enjoy a limited selection of Cuban treats from popular Coconut Grove diner Chug’s. The casually chic restaurant will occupy 2,800 SF of indoor and outdoor space on the ground floor of Caoba, Miami Worldcenter’s apartment tower, at the corner of the 7th Street promenade and NE 1st Avenue.

Also developed by the Ariete Hospitality Group, El Vecino will be a high-end first-class cigar bar serving a full liquor bar and light fare such as head cheese croquetas, an assortment of meat and cheese, and pastelitos by Pastelito Papi. The venue will occupy approximately 1,600 SF of indoor and outdoor space joining Laurel on the ground floor of Miami Worldcenter’s Caoba apartment tower.

Retail leasing at Miami Worldcenter is led by The Comras Company, a leading, boutique real estate firm providing retail leasing, asset sales, consulting and development advisory services throughout South Florida. The leasing team is comprised of Michael Comras, Jeff Evans and Michael Silverman.

“Projects of this size, scale and caliber don’t happen often, not in Miami and not anywhere else in the country,” said Michael Comras, president of The Comras Company. “Miami Worldcenter sits just off the intersection of the two busiest highways, surrounded by various modes of public transit, steps from the most prominent cultural institutions in the city, and the FTX arena. That, coupled with downtown Miami’s exponential growth and the influx of domestic and international residents moving in the last year, makes Miami Worldcenter the most appealing location for businesses to invest in.”

As the largest private development underway in Florida, Miami Worldcenter will feature a diverse mix of residential, commercial and hospitality uses complemented by approximately 300,000 SF of retail, restaurant and entertainment space. These include two completed residential buildings: the 60-story Paramount Miami Worldcenter condominium and the 43-story Caoba luxury apartment tower. Approximately 150,000 SF of retail has been completed with tenant build-out work set to commence in 2021, and another 130,000 SF is currently under construction and nearing delivery. Construction is nearing completion at ZOM’s 43-story Bezel Miami Worldcenter residential tower and at the 351-room citizenM hotel, both of which are expected to open later this year.

Miami Worldcenter occupies 10 city blocks within walking distance of Museum Park, home to Perez Art Museum Miami and the Frost Museum of Science; FTX Arena; the Adrienne Arsht Performing Arts Center; and Miami-Dade College’s Downtown Miami campus. It is also adjacent to Brightline’s MiamiCentral station, which will soon offer direct train service to Fort Lauderdale, West Palm Beach and Orlando, together with access to TriRail, the Metromover and the Metrorail, making Miami Worldcenter one of the largest and most-connected transit-oriented development in Florida.

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