Brightline And Disney Announce Plans To Build A Train Station In Walt Disney World Connecting To Orlando International Airport And Miami

Brightline has recently announced a plan to build a new train station at Walt Disney World in Orlando, connecting directly to Orlando International Airport and Miami. Brightline, who currently operates trains between Miami and West Palm Beach, has been seeking expansion to Orlando since launching in 2018. The next stop will be Orlando International Airport, expected to be completed by 2022, with future plans to extend to Walt Disney World. The new Disney station will open in the Disney Springs complex, a popular spot for dining and entertainment such as live music and shows. 

Millions of people visit Disney World every year. Brightline’s new train will make easy access for Disney tourists flying into Orlando International Airport, and also will allow visitors from Miami to travel directly to Disney World without a car for the first time. The train service from Miami to Orlando International Airport is on schedule to begin in 2022, but there is no set timeline for the Disney World station yet. Brightline is also currently working on engineering a future expansion to Tampa. The Brightline was developed by Florida East Coast Industries.

Wynwood's Newest Class-A Kobi Karp-Designed Office Building, The Gateway, Tops Off

The Gateway at Wynwood has just topped off at 13-stories by R&B Realty Group. The project is a Class-A office building in Wynwood’s emerging neighborhood and new office submarket. The Gateway will feature 195,000 sq.ft. of leasable office space, private rooftop terrace and 25,900 sq.ft. of retail space on the ground floor. 

Shelby Rosenberg, Principal of R&B Realty Group, said, “This is one of the most important moments in the construction of a commercial project, especially as we are ahead of schedule amidst the pandemic. We are excited to see The Gateway at Wynwood is a step closer to reality. Our project will contribute to the transformation of Wynwood into a 15-minute city, where people can access their office, home, the grocery store, restaurants, and more within a 15-minute walk. We want to thank the city, the area’s stakeholders, our construction and design team, and all our partners for trusting us and helping The Gateway at Wynwood reach this important milestone.”

Plaza Construction is The Gateway’s general contractor and Kobi Karp is the architect. The 13-story building is estimated to be complete in the second half of 2021 and is currently ahead of schedule. 

"Despite the challenges that COVID-19 has posed across our industry, we are proud to have been able to reach this milestone on time and without incident,” said Brad Meltzer, president of Plaza Construction. "We prioritized the health and safety of all stakeholders with great success, and we look forward to continuing to deliver exemplary construction services to the South Florida market and beyond."

Wynwood is Miami’s newest and emerging office submarket and a hub for creative and innovative businesses. Many well known companies have already re-located office space to Wynwood including Spotify, WeWork, and Live Nation with other big names including Google, Apple Music and Dentsu looking to move into the area.

Stephen Rutchik, Colliers International Florida’s Executive Managing Director who handles office leasing for The Gateway at Wynwood said: “We are actively engaged with prospective tenants that are attracted to Wynwood because of its ‘live, work, play’ environment. This area has become a mecca for art, food, and entertainment just north of downtown Miami. While a few companies are hesitant to sign new leases just now, they do know exactly where they want to be … and that is Wynwood. We expect many of the deals in the pipeline for The Gateway at Wynwood will come to fruition as we get closer to completing the building later next year.”

The Gateway at Wynwood is located at 2916 N Miami Ave, a desirable location just a few minutes away from Downtown Miami, Aventura and Miami Beach. The area is also very close to Miami Internation Airport and PortMiami attracting many visitors and tourists all year round.

Aztec Group Arranges $12 Million In Financing For Publix-Anchored Kirkman Oaks Shopping Center

Aztec Group, Inc. has secured $12 million in non-recourse financing for Kirkman Oaks Shopping Center in Orlando, Florida, overseen by Brell Tarich and Charles Penan. Kirkman Oaks is an 98,000-square-foot neighborhood retail center anchored by Publix Supermarket and Davita Dialysis. The property is 98% occupied and ideally located just north of Universal Studios at 4606 S Kirkman Road, Orlando, FL.

“Grocery-anchored retail centers, especially those boasting Publix as their anchor, are highly coveted by lenders looking to put out capital in the current Covid-19 environment,” said Brell Tarich, Director of Aztec Group. “The borrower’s stellar track record coupled with the well-performing property allowed us to secure long-term financing at very attractive terms that exceeded the borrower’s expectations.”

The financing was provided by a Georgia Based regional bank. Financial terms of the non-recourse mortgage include a 7-year term, sub-3.5% fixed interest rate and a 30-year amortization schedule. The borrower is led by Daniel Halberstein, a seasoned retail and office investor based in Aventura, Florida.

“Kirkman Oaks benefits from its exceptional infill location at the main intersection of one of Orlando’s premier submarkets,” added Charles Penan, Executive Vice President of Aztec Group. “The terms of this financing speak to the strength of both the ownership and the asset itself.”

Northwestern Mutual Acquires Modera Port Royale In Fort Lauderdale For $180 Million

Northwestern Mutual has acquired the Modera Port Royale apartment community in Fort Lauderdale for $180 million. Modera Port Royale is located long the Intracoastal Waterway at 3303 Port Royale Drive South as well as 2890-2900 Port Royale Blvd. The seller was Port Royale JV Phase I LLC, a joint venture between Mill Creek Residential and Invesco Real Estate and the buyer was NM-Port Royale LLC, an entity managed by Northwestern Mutual Life Insurance. The pricing breaks down to roughly $324,000 per unit.

Modera Port Royale features 555 rental apartment units spanning 1.03 million square feet spread across five buildings on an 8.2-acre site. Amenities include a waterfront pool, game room, coffee bar, fitness center, roof deck, theater and marina with 55 boat slips. The property was developed in 2017 by Mill Creek Residential who sold Phase 1 for $94 million in 2015.

Pharrell Williams To Open Billionaire Boys Club Store In Wynwood

Pharrell Williams plans to open a new store for his clothing line, Billionaire Boys Club, in the Wynwood neighborhood of Miami after inking a lease at 2545 NW 3rd Ave. The lease is for 5,700 sq.ft. of space in an old wholesale shoe company building located near hot spots Zak the Baker and Wynwood Garage. Terms of the lease were not disclosed but both sides of the transaction was overseen by David Lerner of Dwntwn Realty Advisors. The 14,903 SF building is owned by Lerner Family Properties, led by brother-sister duo Irving and Esther Lerner.

Billionaire Boys Club has already had success in Wynwood with their pop-up store operating since 2018. The new location at 2545 Northwest Third Avenue will be Billionaire Boys Club’s second full store after its New York City location and is expected to open in 2021.

Lennar Acquires Pine Isles Mobile Home Community In Homestead For $29 Million

Lennar Homes (NYSE: LEN) has acquired the former site of Pine Isles Mobile Home Community in Homestead for $29 million. The property is located at 28600 SW 132nd Ave. and spans 42.7 acres. Pines Isles Mobile Home Community serviced seniors and was disbanded in 2019 before the site was rezoned for the development of 456 single-family homes. The seller was MAC Thirteen LLC, an entity tied to Rolando Delgado of Treo Group, who will receive a portion of the proceeds from each home sold. Delgado purchased the site in 2018 for $12.99 million.

Lennar Homes has already launched sales of the project, named Pine Vista, a master-planned community of townhomes and single-family homes with resort-style amenities. Homebuyers will have 14 different floorpans to choose from and single family homes will range from 1,833 square feet to 3,221 square feet and pricing from $357,990 to $419,990. Townhomes will start in the $200,000’s. Amenities will include a clubhouse, pool and park.

Carlos Mattos And Family Acquire Waterway Shoppes of Weston For $20.45 Million

An entity tied to the Mattos family, led by Carlos Mattos and his children, Nicolas and Isabella Mattos, have acquired the Waterway Shoppes of Weston for $20.45 million, roughly $501 per square foot. Waterway Shoppes of Weston was developed in 1999 and was acquired by the seller, Waterway Ventures LLC, an entity tied to Fondo Atlas and Dylan Fonseca, for $15.3 million in May 2015. The property was listed with Kirk Olson and Drew Kristol of Marcus & Millichap for $20.65 million. Gordon Messinger of Cushman & Wakefield represented the buyer in the transaction. The acquisition was financed with a $9.98 million CMBS loan provided by Deutsche Bank.

Waterway Shoppes of Weston is located at 2210-2282 Weston Rd. and spans 40,848 square feet on 4.95 acres of land. Tenants include AT&T, Hooters, Lucille’s American Café, Chill-N Nitrogen Ice Cream, Cyclebar, BankUnited, Lucille’s American Café, Baires Grill and Pearl Vision Center.

Check Out The Newly Revealed Renderings Of Norman Foster-Designed Drivers Club Miami

New renderings have been revealed of Drivers Club Miami, a Norman Foster-designed private driving club with resort on 160-acres in Carol City, a neighborhood of Miami Gardens. The project was approved in 2018 although groundbreaking has been delayed by zoning agreements, environmental testing, design meetings and construction-preventing covenants. The project is being developed by 13 Pista LLC, led by Carlos de Narvaez Steuer and is estimated to cost $100 million.

Drivers Club Miami will feature a race circuit with 2.3 mile track in addition to a luxury resort with hotel, retail and restaurants which will be open to the public. The Miami Drivers club track, clubhouse and vehicle storage and maintenance facilities will be private for members only.

Miami-Dade County signed a $33.4 million, 30 year lease for 140 acres of land below-market rate at 20000 NW 47th Ave. for the project. The lease began on August 1, 2018 and has two 30-year extension options. The county will also provide $2 million to the developer via subsidies in order to help the project create 220 jobs on the property. In exchange for waiving the competitive bidding process, the developer will build public improvements for Miami Gardens including a new public bicycle course and capital contributions to support a new on-site fire station and Florida Memorial University. The entire project is estimated to cost roughly $100 million.

West Aventura Developers Proposes Mixed-Use Development In Newly Rezoned Ojus Urban Area District

West Aventura Developers, led by Marina Kessler and Gustavo Lumer, have proposed there mixed-use buildings in the newly rezoned Ojus Urban Area District, just west of Aventura. The area which sits just north of Greynolds Park, was recently rezoned by Miami-Dade county to allow mixed-use development and more density. The 7.9 acre site is located at 2375 NE 186th St.

The proposal includes three buildings designed including an 8-story building with 378 apartment units, 31,375 square feet of retail and 585 parking spaces designed by Corwil Architects; a 12-story building with 114,385 square feet of leasable office space, 16,715 square feet of retail and 552 parking spaces designed by Arquitectonica; the final building would rise 8-stories offering 247 apartment units, 19,160 square feet of retail, 386 parking spaces and a rooftop pool, also designed by Corwil Architects.

Miami Beach Issues Request For Letters Of Interest For Developers To Develop Lincoln Road City Owned Lots

The City of Miami Beach has issued a request for letters of interest from developers to develop three city-owned lots on the north side of Lincoln Road. Miami Beach is seeking a developer to build class A office buildings with on-site parking garages via a public-private partnership with the city with the goal of creating a business district to help diversify Miami Beach’s economy which is heavily reliant on tourism and hospitality. The properties are currently operated as parking lots located at 1664 Meridian Ave., another between Lenox Avenue and Michigan Avenue, and a lot at the southwest corner of 17th Street and Lenox Avenue. The development sites span a total of 3.35 acres can be combined to develop up to 383,439 square feet of office space. Voters would still have to approve any project on city owned land through a referendum. Developers must submit letters of intent by 3 PM on January 11.