The Transit-Oriented Mixed-Use Development CORE Link at Douglas Launches Leasing

The transit-oriented CORE Link at Douglas, a new 312-unit mixed-use multifamily tower, has launched leasing at the intersection of Coconut Grove and Coral Gables. Slated to open in August at 3060 SW 37th Avenue, CORE will become the first tower to open at Link at Douglas, a 7-acre mixed-use development being developed adjacent to Miami’s Metrorail and The Underline linear park. The project is being developed by a joint venture between Miami-based real estate developers 13th Floor Investments and Adler Group, in partnership with global investment manager Barings.

The 22-story residential building will feature studios, one-, and two-bedroom apartments with upscale finishes and panoramic city views. Leasing rates will start at $1,690 for studios, $2,090 for one-bedrooms and $2,790 for two-bedrooms. As part of a special pre-leasing promotion, CORE is offering one month free for new renters, with an additional second month free for those signing a lease without a car and planning to utilize the development’s nearby transit access.

Apartments feature private balconies, floor-to-ceiling windows and a modern design that offers ample natural light. Residences are designed with luxury plank flooring, granite countertops, modern kitchen hardware and appliances, an in-home washer and dryer, and porcelain shower walls.

Amenities include a rooftop pool deck with stunning views, poolside grilling, private cabanas, as well as a fitness center with a yoga studio, business center, media room, and a social lounge complete with billiards, shuffleboard, ping pong, and a furnished seating area centered on a fireplace. Other amenities include secured package room, bike storage, and Wi-Fi in all common areas.

CORE’s ownership has selected The Bozzuto Group to provide property management, including full-service concierge, 24-hour maintenance, resident app, monthly resident events and its signature away-from-home services of plant care, newspaper delivery and in-home package delivery.

Located along US-1 and Douglas Road, CORE and Link at Douglas are perfectly situated to offer direct access to Miami-Dade County’s Metrorail system, the Miami-Dade bus lines and the Coral Gables Trolley. Directly underneath the property, residents can enjoy outdoor workout activities along The Underline, a 10-mile linear park under development that spans from Downtown Miami to South Miami.

“We are excited to deliver our first building at Link at Douglas. With CORE, we wanted to set a new standard for those who want a more connected lifestyle,” said Aaron Stolear, Associate Vice President of 13th Floor Investments, on behalf of the joint venture development team. “At CORE, residents will lease apartments but will ‘live’ at the building – the amenities are just that spectacular.”

CORE will be followed by CASCADE, an adjacent 36-story multifamily tower set to open at Link at Douglas in mid-2022, which will feature a 25,000-square-foot Milam’s Market on the ground-floor level. All told, the Link at Douglas development’s master plan will encompass 1,422 residential units, over 32,000 square feet of retail space, a 280,000-square-foot office building, and a public plaza that connects with The Underline.

Renderings via 13th Floor Investments/Adler Group/Barings

Step Inside This Lavish Tahiti Beach Estate Designed By Ramon Pacheco Which Just Sold For $28.9 Million

The ultra-luxe Ramon Pacheco-designed 4 Tahiti Beach Island Road has sold for $28.9 million, the highest price ever for the highly coveted, waterfront neighborhood of Tahiti Beach. The rare, lavish waterfront estate is located on the exclusive gated Tahiti Beach Island of Coral Gables, which is home to less than 30 estates with neighbors including NBA star Ray Allen and baseball player Manny Machado. The property was listed with Chad Carroll with The Carroll Group at Compass and Constantin Gorges, also from Compass, represented the buyer.

4 Tahiti Beach Island Road sits on 1.42 acres of lush, stunningly landscaped land complete with a private, sandy beach. The massive Tuscan estate designed by Ramon Pacheco features 10 bedrooms and 10.5 bathrooms spread over 21,235 SF along with 2 kitchens, a gym, media room with theater seating, a spa complete with a sauna, wine cellar, breakfast area overlooking the private beach, multiple luxurious en-suite bedrooms, and enormous master suite with private balcony overlooking the beach and a master-bathroom finished with exotic stone and a soak-in tub.

The home features multiple living areas on a grand scale seamlessly spread throughout the inside and outside. Every inch is finished with the finest, meticulous detailing, stonework and furnishings throughout including custom lighting, iPad control for the lighting, air conditioning and TV's of the entire property. 4 Tahiti Beach Island Rd. offers expansive ocean views throughout the property and from many of the living areas. Outside features a large heated pool overlooking the ocean, a grand covered summer kitchen and large dining area, lounge seating and sandy private beach.

Images via The Carroll Group with Compass

For more information about homes in Coral Gables, private showings or purchasing/ leasing information please fill out the form below:

Five New Tenants Including Bradesco BAC Florida Bank Sign At The Plaza Coral Gables

Five notable new tenants have signed leases at The Plaza Coral Gables, a Class A office building currently under construction in Downtown Coral Gables, developed by Agave Holdings. The tenants include Bradesco BAC Florida Bank, who leased 63,009 square feet for their headquarters; the Naples, FL-based digital payments firm ACI Worldwide Corp., who leased 27,712 square feet; private equity firm H.I.G. Capital, who leased 22,227 square feet; PNC Bank, who leased 7,039 square feet; and Raymond James, who leased 4,396 square feet.

Tere Blanca, Danet Linares and Andres del Corral of Blanca Commercial Real Estate represented Agave Holdings overseeing the new lease signings. Patrick Duffy of Newmark represented Bradesco BAC Florida Bank, Shay Pope of CBRE represented ACI Worldwide Corp and PNC Bank, Alan Kleber of JLL represented H.I.G Capital, and Todd Brandon of Cushman & Wakefield represented Raymond James.

Located in the heart of Coral Gables’ central business district, The Plaza Coral Gables consists of approximately 2.1 million square feet of mixed-use real estate on approximately seven acres and spans three city blocks. Construction on the North tower was completed in late 2020 and the South tower is expected to be completed by the end of 2021.

Located at 2801, 2901 and 3001 Ponce de Leon Blvd, just south of Miracle Mile in downtown Coral Gables, The Plaza Coral Gables features a 4.5 star 242-key Loews Hotel, two office towers, dining, retail and entertainment space, approximately 174 residential rental units, and +/-2400 parking spaces. The office component features 455,008 square feet, which is 30% leased. Other tenants include Fogo de Chao Brazilian Steakhouse, Next Level Lounge and The Butchery.

For more information about commercial leasing at The Plaza Coral Gables please fill out the form below:

Villa Valencia Tops Off With $7 Million Sold In First 30 Days Of 2021 In Coral Gables

SPONSORED - Villa Valencia has topped off construction of the 13-story luxury condominium development on the heels of closing $7 million in sales within the first 30 days of 2021, an impressive position in the Coral Gables condo market. The project is now 40% sold. Developer Location Ventures celebrated the milestone with an intimate gathering at 515 Valencia Avenue, where the impressive sales gallery is located.

Rishi Kapoor, CEO of Location Ventures, spoke before notable guests and city officials, including City of Coral Gables Vice Mayor Vince Lago, Coral Gables Chamber of Commerce President & CEO Mark Trowbridge, General Contractor Winmar Construction and the ONE Sotheby’s International Realty sales team.

“We are extremely grateful to reach this landmark achievement in construction while experiencing continued interest and strong sales in January,,” said Kapoor. “Thanks to our dedicated team, Villa Valencia will be delivered later this year with unmatched amenities and offerings, supporting our vision of creating Coral Gables’ most luxurious address by bringing together great design, wellness, nature and forward-thinking technology.”

Buoyed by the surge in single-family home sales, the project experienced a 50% uptick in buyer interest since December. This is in part due to locals seeking to “right-size” their living space, according to Kapoor, as a result of the continued wealth migration to Coral Gables, leading to increased demand for luxury condominiums.

Villa Valencia buyers have also eyed additional onsite amenities for purchase. Elements that make the residences further resemble an estate, such as poolside cabanas and private garages, have recently sold for more than $2 million in total.

Ninety-five percent of the building’s buyer pool is comprised of C-suite executives or business owners who are attracted to Villa Valencia’s career-centric offerings. These include a fully equipped boardroom with innovative video technology and the option of working closely with the developer to customize a home office design within their private residence.

The prime locale is another selling point, with direct access to the Miami International Airport and blocks from Miracle Mile. The Greater Miami Area is a rapidly expanding economic hub, with Coral Gables home to 20 consulates and 140 multinational corporations. It is an ideal community with “Class A” office space, top private and public schools and universities, country clubs, golf courses and world-class culture – all within minutes of the project.

Villa Valencia will include a wellness program that leaves no stone unturned. To promote relaxation and optimal health, core tenements of the brand, a rich spa and extensive fitness offerings will present a hammam, steam room, his-and-her saunas, hydrotherapy plunge pools, as well as a state-of-the-art exercise facility with yoga, Pilates and weight training. For outdoor enjoyment, a 78-foot resort-style pool with a lap lane and waterfall will be complemented by two summer kitchens and spacious sunbeds.

Fostering better health, each residence will feature the Delos DARWIN™ Home Wellness Intelligence network. Villa Valencia is the first condominium project in the U.S. to offer the system in the residences, procured and installed by HEDsouth, a premier technology integration and automation company. DARWIN™ uses tech innovation to bring the best of natural outdoor conditions inside, as it passively monitors for allergens, excess carbon dioxide, and harmful particles, in addition to heavy metals and bacteria in drinking water.

In addition to the DARWIN™ system, each home interior will showcase a private foyer and elevator entry, complete with superior finishes, including European flooring, 10-foot exterior sliding doors, and finished custom closets. Kitchens are equipped with state-of-the-art Subzero and Wolf appliances, a wine cooler, custom cabinetry and quartz countertops. On the outside, the façade displays a modern rendition of Coral Gables’ signature Mediterranean architecture style, designed by Hamed Rodriguez Architects.

Villa Valencia residences start from $1.8 million.

For more information, visit www.villavalencia.com or call (786) 971–6680.

For more information about Villa Valencia, private showings or purchasing/ leasing information please fill out the form below:

The Allen Morris Company Proposes Ponce Park Residences in Coral Gables

The Allen Morris Company, headquartered in Coral Gables for nearly 20 years, has announced plans for Ponce Park Residences. The project will consist of 171-luxury residences with retail and restaurant space on the ground level. Most significantly, the project will create a ¾ acre open-air space with an urban park dedicated to the City of Coral Gables.

Ponce Park Residences would be located at 3000 Ponce de Leon Blvd., in Coral Gables, FL, and has received significant input from the City, including three City of Coral Gables Board of Architects meetings to enhance the design of the public park and open space. Groundbreaking is anticipated for Q4 of 2021 with an expected completion date of Q3 2023.

The internationally acclaimed Oppenheim Architecture firm is the lead architect overseeing the design of the rotunda, Mediterranean-styled Ponce Park Residences, while Naturalficial, Inc. will be designing the development’s 31,470 sq. ft. open-air greenspace.

“As longstanding residents of Coral Gables for 4 generations over the past 73 years and with The Allen Morris Company headquartered at the award-winning Alhambra Towers office building in Coral Gables for nearly 20 years, we are very proud to propose a plan for Ponce Park Residences, which would create a beautiful place to live and an urban park area dedicated to the City” said W. Allen Morris, Chairman and CEO at Allen Morris Company. “It truly achieves our goal of honoring the rich Mediterranean history and style that has a storied presence in the city, while further redefining luxury for modern-day living in the Gables.”

The design of the building is inspired by George Merrick’s Coral Gables City Hall and its coral rock rotunda and arcade. Like City Hall, Ponce Park Residences’ podium façade will be covered with natural stone, above which the building tapers back significantly to the project’s slender 80-foot-wide upper floors. No expense was spared in the design and quality of materials for the project.

One-, two-, and three-bedroom residences would range in size from 750 sq. ft. to over 1,780 square feet. Residences would boast 10’ – 12’ ft. high-ceilings with floor-to-ceiling windows. The entire ground floor area will encompass a retail-lined pedestrian paseo joining the park to the northern side of the project, expansive double ceiling height arcade modeled after the historic Hotel Colonnade on Miracle Mile, dozens of specimen shade trees, multiple water features and various seating areas for the public to enjoy.

The beautifully landscaped ¾ acre urban open-air space will feature a public park the Allen Morris Company is dedicating to the City of Coral Gables for the benefit of the Coral Gables community. In total, the project will provide a public benefits package above and beyond what is typically required by providing:

• A contribution of $2.4 million to pay for the creation of the park and integration of the right-of-way surrounding the park

• Maintenance of the park into the future at no cost to the City

• A donation of an additional $1 million towards the beautification of the Fred B. Harnett (Ponce Circle) Park

• The contribution of over $330,000 to the City’s parking fund

Avison Young Oversees 28,503 SF Of Leases at TA Realty's Ponce Circle Tower In Coral Gables

Avison Young has negotiated two lease transactions totaling 28,503 square feet at Ponce Circle Tower, a class A office building at 2800 Ponce de Leon Boulevard in Coral Gables, Florida. Wicker, Smith, O’Hara, McCoy & Ford, P.A., signed a 27,238-square-foot long-term renewal, and Corona Family Limited Partnership signed a new 1,265-square-foot long-term lease.

On behalf of the landlord, TA Realty, Avison Young Principal Donna Abood, who is also Managing Director of the firm’s Miami office, Vice President Joe Abood, and Associate Peyton Dowd facilitated the transactions.

“Wicker Smith is the anchor tenant of Ponce Circle Tower, and securing another long-term lease commitment from the firm was of great importance to ownership,” said Ms. Abood. “Both the Wicker Smith renewal and the new lease with Corona Family Limited Partnership represent a tremendous team effort on the part of our project management, property management, and leasing teams as well as ownership.”

According to Avison Young research, office leasing activity in Miami remains steady with renewals making up the majority of notable lease signings. In the Coral Gables submarket, class A rental rates have grown to $47.49 which underscores the area’s continued health.

Avison Young has been the exclusive leasing agency for Ponce Circle Tower since 2019. The property consists of a 15-story tower supporting 146,202 square feet plus a six-story parking structure featuring a contemporary design with expansive glass and pre-cast curtail wall providing expansive views of Biscayne Bay, Coconut Grown, Downtown Miami, and Coral Gables.

"Bombastic" Singer Shaggy Buys CocoPlum Home In Miami For $2.15 Million

Orville Richard Burrell, or better known as “Shaggy,” has purchased a $2.15M Miami home. The home is located in Coral Gables within the exclusive enclave community of Cocoplum. Shaggy is the two-time Grammy Winner musician behind “It Wasn’t Me,” “Bombastic” and more.

Shaggy’s new home features 5-bedrooms, 4.5-bathrooms, a 2-car garage, an open air courtyard and formal living room with expansive windows and vaulted ceilings. The master bedroom offers a walk-in closet, luxurious bath and private terrace overlooking the pool. The chefs kitchen is a perfect size for entertaining. The outside features an enchanting pool, landscaped backyard, covered terraces and a covered bar with built in BBQ.

8010 Los Pinos Blvd., Coral Gables was listed by Hilda Jacobson and David Pulley of Douglas Elliman’s Sports & Entertainment Division. Shaggy was represented by Harry Baxter of Fortune International Realty. 

MG Developer Partners With Berkshire Hathaway HomeServices In Coral Gables To Complete The Final Phase Of The Biltmore Square Community

MG Developer has recently partnered with Berkshire Hathaway HomeServices (BHHS) EWM Realty to lead sales and marketing for Althea Row and Biltmore Row. These are the last two projects that will complete the developer’s community, Biltmore Square, in Coral Gables. 

Althea Row and Biltmore Row include fifteen grand townhomes featuring 4-bedrooms and 4.5 bathrooms starting at $3.4 million. The residences are near the Coral Gables Business District and within walking distance of Miracle Mile, Riviera Club and The Biltmore Hotel. Five of the townhomes are in Althea Row and will be completed in 2021, the remaining ten will be in Biltmore row which will be completed in 2022.

“We are extremely proud to be working with BHHS EWM Realty,” says Alirio Torrealba, CEO of MG Developer. “As we enter a new era in real estate and a new era of the development of Biltmore Square, I have the deepest respect and admiration for Ron (Shuffield) and the team he built in the community. I look forward to growing the future of Coral Gables with him and his team of experts, who have been such an integral part of The City Beautiful.”

“MG Developer has done great things in Coral Gables and we highly regard Alirio’s confidence in our expertise as we finalize his unique neighborhood’s final phase,” said Ron Shuffield, President and CEO of BHHS EWM Realty. “Alirio and the MG team are an integral part of the Coral Gables community and we look forward to watching his vision for the city evolve.”

A finance team led by Jeffrey Donnelly and Dmitry Levkov has structured about $16 million in equity financing for the Althea Row and Biltmore Row projects. MG Developer, being based in Coral Gables, has taken on many projects in the area. The luxurious townhomes they are currently working on fit in perfectly with Coral Gables’ charm and feature design elements that blend into the city’s aesthetic. 

CocoWalk Announces New Fashion-Focused Retailers Ahead of Fall Reopening In Coconut Grove

CocoWalk, one of the most highly anticipated mixed-use projects in Miami, has announced new clothing concepts to join their lineup. The open-air lifestyle center is bringing new tenants and energy to the Coconut Grove neighborhood. It is slated to begin its phased reopening later in the Fall along with new fashion-focused tenants. CocoWalk features 150,000 sq.ft. of prime retail and dining space that is currently 80% leased. New brands include Free People Movement, Europann and Late Night Gypsy.

“Our aim is to return CocoWalk to its former vitality by bringing in carefully curated tenants attuned to the wants and needs of the local community and surrounding neighborhoods,” said Stuart Biel, senior vice president of regional leasing at Federal Realty Investment Trust. “FP Movement, Europann, and Late Night Gypsy are cool and original apparel concepts that will not only enhance the center Grove’s retail offerings but will bring the community together for unique experiences.”

CocoWalk offers new tenants the opportunity to launch new concepts and test the market in prime retail space. Free People Movement is by the Philadephia based boho fashion house Free People. Their new line will offer customers fashionable athletic wear from a brand they already know and love. Europann is a men’s clothing line from Saint-Tropez, introducing the French Riviera style of prints and bold colors to Miami. Late Night Gypsy will offer trend-setting vintage clothing concepts from Los Angeles. Their brands include For Love and Lemons, Lavish Alice, Jen’s Pirate Booty and Band of Gypsies. 

“I’m excited to bring the trendy, street chic style of Los Angeles to the colorful spirit of Miami,” said Allegra Wynne-Kaplan, founder and owner of Late Night Gypsy. “Growing up in Miami, I always loved Coconut Grove’s enchanting vibe and unique energy – and after 15 years in Los Angeles, I’m ready to return to my roots, by opening my first storefront location at CocoWalk in the Grove. The artsy and free-spirited nature of the neighborhood perfectly aligns with Late Night Gypsy’s brand, mission, and image, and I look forward to being part of the Grove community once again.”

The three new retailers will join CocoWalk’s existing list of chic, diverse and international shops and restaurants. The list includes Planta Queen, Sushi Garage, Mister 01 Extraordinary, Botanico Gin & Cookhouse, Salt & Straw, Sweetgreen, Narbona Natural Foods & Farm Market, Bluemercury, Edward Beiner, Edite Mode, Palma de Leon, The Spot Barbershop and The School of Rock. The bespoke lineup of CocoWalk brings a new age of fashion, beauty and lifestyle to Coconut Grove. 

MG Developer Locks Down $16.5 Million In Equity Financing To Complete Coral Gables Luxury Townhome Projects

MG Developer, led by CEO Alirio Torrealba, has locked down $16.15 million in equity financing to complete two luxury townhome projects in Coral Gables, Biltmore Row and Althea Row. The projects are currently under construction after broking ground in February 2020. The financing was provided by PBVMF 23 LLC and was arranged by Jeffrey Donnelly and Dmitry Levkov of Colliers International South Florida.

The projects are being developed as part of MG Developer’s Biltmore Square, which features MG Developer nearby projects including apartment projects Biltmore Parc and the recently sold-out Beatrice Row. Biltmore Row features 10 townhome units and is located at 760 Valencia Ave. while Althea Row features 5 townhome units and is located at 735 Almeria Ave. Each townhome under development offers 4 bedroom floor plans and range from 4,514 to 5,524 square feet, featuring terraces, private loggias and luxurious finishes. Pricing starts just over $3 million per unit.