Ten30 South Beach Hosts Socially Distant Party To Celebrate Top Off

Shoma Group officially topped off construction at Ten30 South Beach, a luxury boutique condominium scheduled to open in 2021. The developer teamed up with the project’s exclusive sales broker Fortune Development Sales to host a ceremony to commemorate the occasion. The topping off ceremony included real estate brokers, VIPs, community leaders and partners in the project invited to a socially distanced cocktail party with music and hors d’oeuvres. 

“We’re extremely proud to celebrate this construction milestone and cannot be more pleased to be one step closer to completion. Seeing Ten30 begin to take shape is a stunning moment for our team as it underscores the continued progress as we bring this compelling project to life,” said Masoud Shojaee, President and CEO of Shoma Group. “We look forward to delivering Ten30 South Beach and welcoming our residents in the new year.”

Ten30 is a four-story building that features 43 residences built in a mid-century modern design. Residences range from studios up to two-bedroom units. Amenities will include a 6,000 sq.ft. rooftop deck, a rosé-colored pool, outdoor kitchen area, BBQ stations and an extensive gym. 

“Ten30’s contemporary residences offer buyers a truly refined and elevated living experience with thoughtfully designed layouts in the heart of South Beach,” said Edgardo Defortuna, President and CEO of Fortune International Group. “We’ve continued to see a strong interest from prospective buyers locally, internationally and particularly from the Northeast, and we look forward to continuing our forward momentum.” 

1030 15th Street is located just minutes away from Lincoln Road, Sunset Harbor and Flamingo Park. The project is a unique luxury retreat compared to the high-rise condos surrounding South Beach.

CocoWalk Launches Phased Reopening Just In Time For The Holiday Shopping Season

The highly anticipated phased reopening of CocoWalk in Coconut Grove has officially commenced with the 2020 Holiday shopping season in full swing. Federal Realty Investment Trust, the majority ownership group behind the development, with partners The Comras Company and Grass River Property are excited to announce the lifestyle center has slated new innovative dining experiences and boutiques ready to open for the Holiday season. New openings include: Planta Queen, Free People Movement, Edite Mode, Europann, Mr. 01 Extraordinary Pizza, Sportive, Edward Beiner Eyewear and The School of Rock.  

“Five years ago, we set out to re-energize CocoWalk by attracting a tenant mix better aligned with the community’s needs and interests while creating an authentic destination that would position CocoWalk at the forefront of Miami’s retail evolution,” said Stuart Biel, of Federal Realty Investment Trust. “We look forward to bringing the community together through exceptional experiences and refreshed concepts that are unique to CocoWalk and enjoyed by Miami locals and visitors alike.”

Michael Comras, CEO and President of The Comras Company and board member of the Coconut Grove Business Improvement District (BID) said: “By reintroducing CocoWalk with the types of brands and concepts that the neighborhood identifies with while giving visitors new reasons to rediscover Coconut Grove, we’ve created a destination that suits the daily desires of the area’s residents, office tenants, and locals and ensures CocoWalk reclaims its spot as the number one shopping, dining, and entertainment location in Miami.”  

CocoWalk is four-stories tall and 150,000 sq.ft. of prime retail, dining and entertainment space. The property’s east end also includes Class A office space. Retail lease is managed by Federal Realty Investment Trust and The Comras Company, office lease is managed by Blanca Commercial Real Estate. The phased reopening of CocoWalk is just in time for the Holiday shopping season rush and festivities.

PMG Reveals MKDA-Designed Society Wynwood After Acquiring Final Piece of Assemblage For $11.5 Million

Property Markets Group (PMG) and Greybrook Realty Partners have submitted their plans for Society Wynwood for approval by the Wynwood Design Review Committee after acquiring the final piece needed for their 1.93 acre assemblage. The JV between PMG and Greybrook acquired 2407 NW 2nd Ave. for $11.5 million from a JV between RedSky Capital and JZ Capital Partners. The PMG and Greybrook JV acquired 1.6-acres at 2421-2455 NW 2nd Ave. in August 2019 for $46 million from the Doris D. Friedopfer Trust. Society Wynwood is part of PMG’s social community initiatives and when complete will span 522,008 square feet.

Society Wynwood will include 326 residential units, 41,258 square feet of retail space, 211 parking spaces and a 3,980 square feet underground lounge. The unit breakdown includes 96 studios spanning 410 square feet, 30 one-bedroom units spanning 654 square feet, 72 two-bedroom units spanning 780 square feet, 114 three-bedroom units spanning 1,190 square feet, and 6 four-bedroom units spanning 1,370 square feet. The building is designed by MKDA and features an interior courtyard, rooftop bar and restaurant, rooftop pool and spa deck with an outdoor theater, yoga area and BBQ area. The project will also feature murals on the side painted by Alexandre Farto, paying homage to Wynwood’s street art culture. Additionally, PMG will contribute to the Wynwood Public Benefit Trust Fund in exchange for a parking reduction of 192 parking spaces. The transit oriented project already benefited from a 30% parking reduction due to proximity to public transportation.

Scott Sherman’s Tricera Capital has a deal to acquire the commercial spaces upon completion of the project. PMG plans to break ground on Society Wynwood project in early 2021.

Royal Palm Companies Acquires 1.53-Acre Future Site of Legacy Hotel & Residences In Miami Worldcenter For $33.9 Million

Miami Worldcenter Associates, the master developer behind Miami Worldcenter, the $4 billion, 27-acre mixed-use development under construction in the heart of Downtown Miami, has sold a 1.53-acre parcel to Royal Palm Companies (RPC). The transaction includes 66,656 square feet of developable land that was sold for $33.9 million. The property, which is situated at 942 Northeast First Avenue, will be home to the Legacy Hotel & Residences, a 50-story mixed-use tower with 274 branded residences atop a 256-room hotel. The Cushman & Wakefield team of Robert Given, Troy Ballard and James Quinn represented the seller, Miami Worldcenter Associates, in the transaction.

Legacy Hotel & Residences’ developer, Dan Kodsi of RPC, previously partnered with Miami Worldcenter Associates developers, led by Nitin Motwani and Art Falcone, on the newly completed Paramount Miami Worldcenter luxury condominium tower, which opened to residents in 2019 across the street.

“Legacy Hotel & Residences is one of our most anticipated developments. The project’s iconic architecture and state-of-the-art amenities featuring a world-class restaurant and medical facility are just some of the components that will make it a standout addition to our city-within-a-city at Miami Worldcenter,” said Nitin Motwani, Managing Partner of Miami Worldcenter Associates. “We’re committed to working with best-in-class developers to create a diverse and vibrant eco-system for the ultimate live, work, play Miami experience, and our recent collaboration with Dan Kodsi on Paramount is a testament to that vision.”

Legacy Hotel & Residences will feature first-of-its-kind amenities and offerings, including a sophisticated members-only international business lounge, a dramatic Singapore-inspired cantilevered pool, downtown’s largest hotel pool deck set on one acre, a highly-anticipated 100,000 square foot medical and wellness center, and stylish microLUXE residences – all topped with the project’s signature amenity: the city’s first enclosed rooftop atrium, taking up the top seven floors of the tower.

“We are looking forward to breaking ground in early 2021 on what we expect will be one of the iconic centerpieces of Miami Worldcenter,” said Dan Kodsi, CEO of RPC. “Legacy Hotel & Residences is setting the stage for the future of mixed-use developments and branded-residences that prioritize health and wellness without sacrificing luxury lifestyle experiences and resort-style amenities that discerning homeowners and travelers are accustomed to.”

The Miami Worldcenter master plan, delivering in phases, features an array of residential, commercial and hospitality uses. These include approximately 300,000 square feet of retail, restaurant and entertainment space; the 60-story Paramount Miami Worldcenter condominium tower; Caoba, a 444-unit apartment tower that opened in 2019; a 348-room CitizenM hotel which is now under construction; and Bezel, a 434-unit rental tower by ZOM Living which is also underway. In addition, Hines is preparing to build a new tower that will comprise up to 500,000 square feet of Class A office space and MDM Group is planning a 1,700-room Marriott Marquis hotel and adjacent 600,000 square foot expo center.

Miami Worldcenter occupies 10 city blocks within walking distance of Museum Park, home to Perez Art Museum Miami and the Frost Museum of Science; AmericanAirlines Arena; the Adrienne Arsht Performing Arts Center; and Miami-Dade College’s Downtown Miami campus. It is also adjacent to Virgin Trains’ 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 the largest and most-connected transit-oriented development in Florida.

Over 6 Months Terra Signed Nearly 60,000 Sq.Ft. In New South Florida Retail Leases

Terra has been one of South Florida’s most active in real estate development through the pandemic. Within the last 6 months Terra has signed nearly 60,000 sq.ft. in new retail leases across Miami-Dade and Broward Counties. Newly signed tenants include Verizon Wireless, AT&T Wireless, Mister 01 Pizza, Panda Express, Pilates Zone and more. Terra is a residential and commercial development firm and investment company that enhances neighborhoods to connect people and better the community. Courtelis Company oversees the leasing and property management for Terra’s portfolio. 

“Because COVID-19 has made a tremendous impact on the economy and will continue to reshape the market as we know it, we are committed to listening to our neighbors, collaborating with partners, and creating developments that are naturally woven into the community,” said David Martin, CEO of Terra. “We anticipate a continued need for lifestyle-centered developments that will serve at the pulse of South Florida’s neighborhoods featuring restaurants and retailers, as well as essential services such as grocers and local businesses that cater to the everyday needs of surrounding residents.” 

 “In addition to signing new leases, we’re focused on helping consumers navigate our retail centers in a responsible and efficient manner,” said Rod Castan, president of leasing and management for Courtelis Company. “We’ve provided tenants with access to take-out/short-term parking spaces, ample outdoor seating, cueing areas and temporary signage to increase tenant visibility. Although it’s been a challenging year, the hands-on approach has remained the best way for us to conduct business and maintain relationships with our retailers.”

Terra’s newly signed leases at retail developments in South Florida include: 

• 16000 Pines Market: A 135,000 sq.ft. mixed-use retail development that is now underway and is located in the City of Pembroke Pines. Publix Super Markets is the anchor tenant and has signed a 23,168 sq.ft. lease. Additional leases are signed by Verizon Wireless and Everglades Family Dental.

• Doral Square: Located in the City of Doral is the 150,000 sq.ft. retail center. Ross Dress fo Less is the anchor tenant and has signed a 24,147 sq.ft. lease. An additional lease is signed by Panda Express.

• 2811 Coral Way: Located in Miami is the newly completed mixed-use retail/self-storage development. Businesses with finalized retail leases include Pilates Zone, La Roche Beauty Salon, AT&T Wireless, and dental orthodontics laboratory Arcadlab.

• Pines City Center: Located in the City of Pembroke Pines is the 150,000 square foot mixed-use lifestyle development that spans across 47-acres and is opening their second phase of retail. A 1,525 sq.ft. lease is signed with Mister 01 Extraordinary Pizza that represents the modern pizza chain’s first Broward County location. The development’s first phase included a a Publix Supermarket.

Tricera Capital, LNDMRK and Related Group Break Ground On The Dorsey In Wynwood

The Related Group, Alex Karakhanian’s LNDMRK Development, and Scott Sherman’s Tricera Capital have broken ground on The Dorsey in Wynwood. The Dorsey is a mixed-use project which will rise 12-stories and will feature 306 apartment units; 35,000 SF of retail; 70,000 SF of office and 476 parking spaces. Units will range in size between 500 and 700 square feet with some micro-units in the 400 square foot range. The project was designed by Arquitectonica and will be located along one of the planned Woonerfs as part of Wynwood’s new ArquitectonicaGEO-designed streetscape, which open up space for pedestrians while also allowing car access.

“We are proud to partner with Related and Alex karakanian on this mixed use project in the most dynamic and growing neighborhood in Miami,” said Scott Sherman of Tricera Capital.

The Dorsey will be built at the site of the former Coca Cola plant and was previously owned by Thor Equities and Rockwood Capital who had proposed a Touzet Studio-designed project. The JV, which purchased the 2-acre site in late 2019 for $32 million, demolished existing buildings on the site, some of which were originally built in the late 1920’s including the former Coca Cola plant. The Dorsey will be located at 280 NW 28th Street.

Italian Luxury Brand Bulgari Reveals Bulgari Hotel Miami Beach At The Site Of The Seagull Hotel

Italian luxury brand Bulgari and Blue Horizon Group, led by Nabil Kobeissi, have revealed Bulgari Hotel Miami Beach. The hotel will be the brand’s first hotel in Miami and 11th location worldwide. The developer will renovate and restore the existing 7-story Seagull Hotel, located at 100 21st St., adjacent to The Setai Hotel & Residences and W South Beach. The hotel is expected to open in 2024.

“We are particularly proud to have secured such an extraordinary location for the new Bulgari Hotel in Miami,” said Bulgari Hotels & Resorts CEO Jean-Christophe Babin.

The Seagull Hotel was developed in 1950, designed by Albert Anis. The restoration will be overseen by Antonio Citterio Patricia Viel. The existing building currently has 178 hotel rooms which will be transformed into 100 hotel rooms. The redevelopment will include a new pool, spa, fitness center and restaurant led by Chef Niko Romito.

Blue Horizon Group acquired the Seagull Hotel from Lionheart Capital and Actium Development Co. for $120 million in January 2020. The sellers had acquired the hotel, which sits on a 1.34 acre property, in an auction for $31.1 million in December 2017.

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.

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.