Apparel Industry Icon Gerard Guez Purchases Unit at Arte by Antonio Citterio For $11,480,000

An Israel- and New York-based luxury real estate development firm SC 8955 LLC, a subsidiary of Sapir Corp Ltd., announced that Gerard Guez and his wife Jacqueline Rose will purchase unit 601 on the 6th floor of the oceanfront boutique condominium, Arte by Antonio Citterio. The boutique, waterfront luxury building is nearing completion and receipt of its certificate of occupancy. The transaction will close during the second quarter of 2020 with a purchase price of $11,480,000. The Purchase Price reflects $2,713 per SF.

“We are excited that Jacqueline and Gerard will be among the residents of the Arte project as we enter active sales,” said Alex Sapir, who is developing Arte. “We look forward to welcoming them home this spring.”

“The residences at Arte were designed as trophy homes for our very exclusive clientele,” said Giovanni Fasciano, a development partner in Arte. “We are proud that the building resonated with Jacqueline and Gerard and thrilled that they have decided to make unit 601 their Miami home.”

Nestled in the exclusive enclave of Miami’s Surfside neighborhood, Arte, an oceanfront condominium, is the first project in the United States by Antonio Citterio, the Italian master architect known for his collection of Bulgari and Mandarin Oriental hotels located throughout the world’s most posh destinations, including Dubai, London, Milan and Bali. Citterio viewed Surfside as the next great American Riviera and designed the 16 residences at Arte to emulate the destination’s global sophistication. The residences were designed inside and out by Citterio, and in collaboration with Kobi Karp Architecture & Interior Design. At Arte he used only the highest quality materials, like Roman travertine hand- selected from Italy, and created seamless indoor-outdoor living spaces punctuated by expansive wraparound terraces with Ipe decking. A complete suite of resort-style amenities also reflects this lifestyle. The array includes a 75’ indoor swimming pool, an outdoor swimming pool and beachfront meditation pond, a rooftop tennis court, state-of-the-art fitness center and yoga studio, sauna and steam room and dedicated pet runway and relief corridor. Additional facilities include a children’s playroom, residents’ lounge, catering kitchen for out-of-home entertaining, and private temperature- controlled parking spaces.

“It’s rare that you see such high-end features in a condominium, and we felt it was a great time to invest in Surfside,” said Gerard Guez, who currently serves as the chairman and founder of Sunrise Brands, an apparel conglomerate built upon the formerly public company Tarrant Apparel Group that he founded in 1988 with the iconic brands Sasson jeans and JAG. For over 40 years, Gerard’s companies have designed and produced denim jeans and other apparel for countless recognizable brands that we know today. He shepherded the success of premium denim in the United States, helping define ‘80s pop culture with commercials including Elton John, Carol Alt, Nicolette Sheridan and The New York Rangers. His latest portfolio of brands includes NYDJ/Not Your Daughter’s Jeans, American Rag, DG2 by Diane Gilman and Seven7Jeans, and his company recently closed on the acquisition of Donald Pliner, a brand specializing in women’s and men’s footwear and accessories. Gerard is also a founder of the iconic Buddha Bar, which began as a single restaurant in Paris and has grown into a worldwide collection of luxury hotels, restaurants and spas, and is an active investor in real estate, fintech and other public and private equity. Arte is Gerard’s first Miami condominium and joins his prestigious roster of homes throughout the U.S., which includes a residence at Manhattan’s famed supertall skyscraper, 432 Park Avenue. As a world traveler with an appreciation for European sensibilities, Gerard was drawn to the Mediterranean-inspired lifestyle at Arte.

Palazzo Della Luna On Fisher Island Reveals $9 Million Residence Designed by Champalimaud

Fisher Island’s Palazzo Della Luna has revealed a lavish, $9 million residence designed by the New York-based, internationally-acclaimed interior design firm Champalimaud. Palazzo Della Luna is a 50-residence, 10-story boutique development located on the private Fisher Island which his consistently ranked as one the wealthiest zip code in the U.S. The ultra-luxe building offers move-in-ready and limited-edition turnkey residences from internationally-acclaimed designers.

The Champalimaud-designed residence is fully-furnished, spanning 3-bedrooms and 3-bathrooms spread over 3,724 SF of interior space. The residence also offers a large terrace with unparalleled views of Miami’s famous coastlines. Priced at $9 million, the abode offers a bright and airy aesthetic made for easy and luxurious living. Interior design elements include blonde oak wood flooring, statement light fixtures, hand-picked Italian marbles and more. Upon direct elevator entry into the residence, an exquisite reading room sets the tone with unique, custom shelving and the finest of millwork, all with flow-through views of the ocean. The crisp aura of the interiors, juxtaposed by fine hints of vibrant color, mirrors the tropical waters and backdrop of Miami Beach through floor-to-ceiling windows.

“The exquisite details of this designer home instantly draw modern-day buyers desiring to live in the zenith of the newest luxury product on Fisher Island,” said Dora Puig, Director of Sales and Marketing for Palazzo Della Luna. “This building has cultivated elite prestige, showcasing an exclusive lifestyle through its thoughtful design and a full-service amenity experience that is exclusive to the property and its neighboring sister building, Palazzo Del Sol. There’s nothing like this around us.”

Palazzo Della Luna marks the first residential project for Champalimaud Design, which is renowned for the design of The Beverly Hills Hotel, The Dorchester London, The Raffles Singapore and The Waldorf Astoria New York to name a few of their hospitality commissioned projects. The firm also curated the lobby and interior amenities to embody the tranquil environment of Fisher Island. On the heels of Fisher Island celebrating its centennial anniversary, Palazzo Della Luna now represents the pinnacle of bespoke luxury on the island offering six-star services and amenities including a waterfront lounge with a butler-serviced Aperitivo bar and lounge, a beauty salon and treatment rooms, fitness center, Kidville children’s playroom, theatre, business center, two pools, a spa cabana and more. Fisher Island is a secure oasis with an exclusive members-only Fisher Island Club that includes a Beach Club, the Vanderbilt Mansion, par-35 championship golf course by P.B. Dye, 18 tennis courts (with all four Grand Slam surfaces), and two private deep-water marinas, among other conveniences and amenities.

“Like the rest of Florida, full time Fisher Island residents enjoy the benefits of a living in a non-income tax state matched with the luxurious lifestyle of the American tropics. Fisher Islands exclusive country club lifestyle and secure private island sets Palazzo Della Luna apart from any other condominium options in South Florida,” says Irina Artemova who is a leading sales executive at Palazzo Della Luna.

For more information about Palazzo Della Luna, private showings or purchasing/ leasing information please fill out the form below:

East End Capital & Related Group Secure $136 Million In Refinancing For Wynwood 25 & Wynwood Annex

Partners East End Capital and The Related Group closed on $136 million in financing for its a master-planned, mixed-use developments Wynwood 25 and Wynwood Annex. The financing was provided by Blackstone Real Estate Debt Strategies and is being used to fully satisfy the construction loans for both projects and return equity to the partners. Completed in June 2019, the nine-story building is already nearly 90% leased.

“This financing is a significant milestone for Wynwood 25 and the Annex as it officially marks the completion of these pioneering Wywnood developments,” said Jonathon Yormak, of East End Capital. “We thank our partners for their support.”

Approximately $110 million of the loan was used for Wynwood 25, Wynwood’s first purpose-built, rental community, which adds 289 rental units ranging from 400 SF studios to three-bedroom apartments to the market. Designed by architect Kobi Karp, with interiors by Meshberg Group, Wynwood 25 features amenities such as a 24/7 concierge, valet parking, electric car charging stations, pet grooming spa, rooftop lounge and kitchen, library with co-working space, state-of-the-art fitness room with virtual spinning studio, and a heated resort-style pool with a sunbathing deck area that looks down on the world-famous Wynwood Walls. Wynwood 25 also features 28,518 SF of retail space, featuring ice cream shop, Salt & Straw, and acclaimed Austin-based Japanese powerhouse, Uchi, expecting to open in the Spring 2020.

“Wynwood 25 and the Annex ushered in a new era for Miami’s most popular neighborhood, and the response from renters, tenants and the Wynwood community has been overwhelmingly positive,” said Jon Paul Perez, executive vice president for Related. “We look forward to continuing to bring these kinds of thoughtfully designed properties to Wynwood as it grows and evolves.”

Nearly $26 million of the refinancing loan was utilized for The Wynwood Annex, the second component of the mixed-use development. The Annex is a 60,000 SF, Class-A office building, geared towards TAMI tenants, such as Live Nation, that has already moved into its full floor space at the building. The Annex boasts loft-like office space with soaring ceilings and private outdoor space, individually sized floor plans, and on-site parking. Other features include a 4,429 SF ground-floor retail component as well as a communal rooftop terrace with outdoor seating.

Apartment leasing at Wynwood 25 is being managed by The Related Group. Retail leasing at Wynwood 25 and Wynwood Annex is being handled by Richard Skulnik at RIPCO. Office leasing at Wynwood Annex is led by the team of Gordon Messinger and Ericka Witkowski of Cushman & Wakefield.

Miami-Dade Orders All Hotels And Short-Term Rentals To Shut Down Due To COVID-19

Miami-Dade County and the City of Miami Beach have ordered all hotels, motels and short-term rentals to begin immediately shutting down and vacate their guests, with full-closure by 11:59 PM on Monday, March 23. The announcement comes as Miami’s next step in curbing the spread of COVID-19 which has now surpassed 560 cases in Florida and over 123 in Miami-Dade. The move also comes to help dissipate the spring break crowds, many of whom have written off any care of the virus and are in Miami “to party.”

“Our hotels have always been the lifeblood of our economy, so shuttering them is not something to do impulsively. But right now, as painful as it may be, the reality is we just cannot be a tourist destination,” said Miami Beach Mayor Dan Gelber. “Attracting visitors and tourists is just utterly incompatible with social distancing. For the many amazing operators and employees who are impacted, and the families that rely upon them, we are so sorry that you will feel this most acutely and we will advocate for whatever relief will be available at the state and federal level. These decisions were made collaboratively with County Mayor Gimenez, our City Manager Jimmy Morales and after input from all of our Miami Beach City Commissioners.”

The closures will apply to all hotels, motels, apartment-hotels, hostels, dormitories, and vacation and short-term rentals in Miami-Dade County. Miami Beach will also enforce a curfew from 12 A.M. to 5 A.M. Acqualina Resort in Sunny Isles Beach and Coral Gables’ historic Biltmore Hotel both closed in advance of the announcement as reports of layoffs in the hotel and hospitality industry continue to grow. Last week Miami-Dade Mayor Carlos Gimenez issued an executive order to shut down all non-essential business’ including restaurants, retail stores, nightclubs, casinos, gyms, public parks and beaches.

Alta Developers Launches Sales At The Recently Completed Quadro At The Miami Design District

Alta Developers, a South Florida-based real estate development firm, has announced the completion and launch of sales at Quadro at the Miami Design District. Quadro at the Miami Design District is a resort-style condominium with 198 turn-key residences where art is integrated throughout the entire development. Designed by Behar Font & Partners, international homebuyers and art lovers from across the globe can now enjoy art, designer finishes, sweeping city and bay views just across from the Miami Design District.

Quadro at Miami Design District also offers short-term rental flexibility as short-term rentals are fully permitted, residents and guests alike can wake up in the Miami Design District to enjoy the trendy lifestyle destination and shop, dine or play only a few steps away. Quadro provides owners a unique benefit of placing units into a short-term rental program especially designed for this development. The management company can arrange lodging and homestays for visitors.

“As the residential luxury market evolves in South Florida, buyers have created a demand for sensational high-end turn-key residences that provide exhilarating environments and resort-style amenities at compelling pricing points,” said Raimundo Onetto, Principal & CEO at Alta Developers. “Quadro gives buyers solid opportunities where they can list their designer residences into a short-term rental program while they are traveling. Quadro is truly redefining modern day living in Miami’s chic Design District.”

Introducing a more creative feel to resort-style living, Quadro incorporates more than 542 one-of-a-kind art pieces and installations by Art with DNA. Taking inspiration from Miami’s sparkling ocean, vibrant colors and shapes, Quadro is an ode to South Florida’s nautical environment creating a tranquil space for creativity and collaboration.

Residences at Quadro are turn-key and ready for immediate occupancy. Units range in size from large studios, to 973 SF one-bedroom residences and up to 1,280 SF two-bedroom residences with terraces. All residences are designed with hand selected color palettes for the interior walls, doors and trims, stainless steel appliances, private balconies with spectacular views, 9’ – 13’ high-ceilings with floor-to-ceiling windows, Italian porcelain tile throughout, modern-white roller shades and open concept kitchen and living room. Designer furniture packages are also available. Each residence is technology enhanced including NEST smart home thermostats as well as a bluetooth keyless entry system with cameras that offer complete control through a homeowner’s mobile phone.

“Quadro is truly distinct in many ways and it presents great opportunities for residents and buyers. The product is approved to accommodate short term rentals plus it is ready for occupancy now, providing the buyer immediate use or rental income from day one. This, coupled with its prime location in the Miami Design District and compelling price points, positions Quadro as one of the best value propositions in the city,” continued Onetto.

The 12-story boutique building offers a variety of amenities that coalesce with the urban environment of the Miami Design District and its close proximity to the bay. An expansive amenities deck with a pool, summer kitchen and cabanas provides plenty of spaces for outdoor recreation with panoramic views of Biscayne Bay, while the expansive poolside club room, yoga and spinning rooms create a private setting fit for relaxation or spending time with friends and family. Quadro also features electric car charging stations and state-of-the art pet washing facility.

Residences are exclusively marketed and sold by Fortune Development Sales and start at $399,000.

For more information about Quadro at the Miami Design District, private showings or purchasing/ leasing information please fill out the form below:

South Florida COVID-19 Update (Last Updated: 3/23/2020)

(Last Updated 10:39 AM 3/23/2020):

BREAKING: 

• Miami-Dade County and the City of Miami Beach have ordered all hotels, motels and short-term rentals to begin immediately shutting down and vacate their guests, with full-closure by 11:59 PM on Monday, March 23. (3/21/2020)

• Miami-Dade Mayor Issues Executive Order Closing All Non-Essential Business 9 PM Thursday. (3/20/2020)

• All U.S. Citizens traveling around the world should return home ASAP or be prepared to stay abroad for an indefinite period. (3/19/2020)

Continue to check back for updates to below as we continue to track COVID-19 across South Florida:  

Unfortunately there is just no avoiding it, COVID-19, the deadly strain of Coronavirus is here in Miami and spreading. Across the United States, social distancing has become a top priority in the government’s efforts to slow down the spread of the virus. COVID-19 spreads through droplets that can extend out six feet from the body via cough or sneeze. The White House has advised the public to avoid gathering in groups of more than ten people and has asked municipalities where the virus has spread to close public places such as bars and restaurants.

The Cities of Miami Beach and Fort Lauderdale addressed the public regarding new measures taken due to large and rowdy spring break crowds and ongoing concerns over COVID-19 outbreak. Miami Beach is closing beaches, limiting hours at restaurants and has enforced a curfew that will be going into effect in Miami Beach's entertainment district starting at 10 p.m.

“It simply can’t be business as usual in our City,” said Miami Beach Mayor Dan Gelber. “COVID-19 is a threat as much here as anywhere. We simply cannot endure these kinds of gatherings and crowds. Our measures are intended to send a clear message that Spring Break is cancelled and that everyone, even young people home from school, need to embrace these health and safety concerns. We are proud of our hospitality industry, and concerned with the toll it will have on our businesses and workers but we cannot elevate those concerns above very real health risks.”

“I want to be clear, this isn’t an overreaction, but a way to stop further cases of COVID-19 in our community,” Fort Lauderdale Mayor Dean Trantails said. “We must all do our part to save the lives of our residents, visitors and first responders.”

Remember, the majority of infections are mild. 81% will experience flu-like symptoms, 14% will experience severe symptoms and only 5% will need intensive care. The mortality rate is below 3%. The most important thing you can do is think about the others that you may affect if you become a carrier. If you suspect you have been exposed to someone with the virus or are showing symptoms, then you should self-quarantine yourself immediately for 14 days. You should limit your exposure to the elderly or those with pre-existing conditions. Governor Ron DeSantis previously acknowledged that Florida is experiencing "community spread," so taking the time to limit your exposure to others will help keep you healthy, others healthy and curb the nations growing public health crisis.  

"It is a very uncertain time, especially in the real estate world. You having so many moving parts, whether it is lost time and rising construction costs in development or commission based pay many that realtors rely on getting held-up as society grinds to a halt," said Demetri Demascus, Editor of PROFILEmiami and a local real estate investor, developer and broker. "Everything is a chain reaction. If tenants cannot pay their rent, will a landlord be able to pay their employees or their own bills? We have to be extremely cautious about how we proceed across all aspects of life and business right now.” 

While many businesses with lots of interaction between the staff and customers have had to shutter for the time being in order to protect customers and employees, in other cases, local business’ have been taking measures to keep business as usual while also keeping their office and employees safe, sanitary and healthy.

"We are monitoring the Coronavirus situation closely, and will continue to do so as the situation evolves. In the meantime, we have asked our team to put their health and safety first as not only will this help keep our team safe, but our families as well. We have also asked for all non-essential travel plans to be delayed, all team-members to practice good hygiene, stay home if they are sick and we have increased sanitization frequency of our office," said Jacques Bessoudo, Managing Partner of Galium Capital, a Miami-based Private Equity group focused on investing in commercial real estate.

Stats:

• Number of Cases in Florida: 830+ (3/23/2020)

• Fatalities in Florida: 13+ (3/23/2020)

• Number of Global Cases: 351,000+ (3/23/2020)

• Global Fatalities: 15,321+ (3/23/2020)

• Number of U.S. Cases: 35,075+ (3/23/2020)

• Fatalities in the U.S.: 458+ (3/23/2020)

Miami-Dade County:

• Miami-Dade County # Cases: 177+ (3/23/2020)

• BREAKING: Miami-Dade County and the City of Miami Beach have ordered all hotels, motels and short-term rentals to begin immediately shutting down and vacate their guests, with full-closure by 11:59 PM on Monday, March 23. (3/21/2020)

• BREAKING: Miami-Dade Mayor Issues Executive Order Closing All Non-Essential Business (3/20/2020)

• CONFIRMED CASES IN BRISTOL TOWER BRICKELL & SOHO BEACH HOUSE (3/19/2020)

• Officials have ordered the closure of all restaurants, bars, movie theaters, concert houses, auditoriums, playhouses, clubs, gyms, arcades, bowling alleys, etc. which will go into effect 11 PM Tuesday. All grocery stores, pharmacies, take-out and delivery services will remain open at this time (3/17/2020)

  • All bars and nightclubs will be closed for 30 days.

  • Restaurants will only be able to operate at half capacity.

  • Exceptions granted if they have a capacity of 10 people or less.

  • Mayor Carlos Jimenez signed the emergency order, but remains in self-quarantine after being exposed to a Brazilian government official who tested positive following a visit to South Florida.

• Miami-Dade Public Schools are now closed through at least April 15. (3/19/2020)

  • Miami-Dade Public Schools have closed this week and next. (3/16/2020)

• Key Biscayne and North Miami Beach have implemented curfew between 10 PM and 5 AM (3/19/2020)

• Officials have closed the beach from 5th to 15th Street, including Lummus Park.

• All city parking garages are closed to non-residents.

• In addition, all non-essential retail stores will be required to close at 10 p.m. daily. (3/16/2020)

  • Businesses excluded from this directive include: Pharmacies, grocery stores, convenience stores, private offices, banks, hotels, hospitals, medical service providers, medical supply stores, hardware stores, gasoline service stations and automotive supply and repair centers.

• An entertainment district curfew will go into effect at 11 p.m.

• All restaurants are asked to keep occupancy at 50% or less, and have under 250 people in each establishment at any given time.

• Ultra Music Festival has been cancelled.

• Miami Music Week has been cancelled.

• ArtScape Concert has been cancelled.

• The Miami Open Tennis Tournament has been cancelled. 

• University of Miami & FIU have moved classes online until the end of the spring semester. (3/20/2020)

• University of Miami Spring Commencement postponed until December. (3/20/2020)

• The Hardrock Seminole Hotel & Casino has suspended entertainment operations. 

• Calle Ocho Festival has been cancelled.

• Mayor Francis Suarez has confirmed that he has COVID-19.

Broward County:

• Broward County # Cases: 180+ (3/23/2020)

• Broward County Public Schools are now closed through at least April 15. (3/19/2020)

• Officials have closed the beach from Harbor Beach to Oakland Park Boulevard.

• Restaurants and bars must close by 10 p.m.

• Restaurants and bars are asked to operate at 50% capacity and have no more than 250 people at any time.

• The Tortuga Music Festival, which was set to run from April 17-19, has been postponed.

• The Wharf Fort Lauderdale is closed until further notice.

• The listed measures will remain in effect until April 12.

Palm Beach County:

• Palm Beach County # Cases: 59+ (3/23/2020)

• Town of Palm Beach implements curfew until further notice from 9 P.M. - 6 A.M. (3/18/2020)

• Palm Beach County Public Schools are now closed through at least April 15. (3/19/2020)

• Beaches will be closed on Tuesday 3/17/2020

• Nursing Homes and Assisted Living Facilities are closed to visitors.

• Drive-through testing underway at FoundCare (2330 S. Congress Ave, West Palm Beach - call 561-967-0365 to see if you qualify and for appointments)

National:

• United States of America # Cases: 35,075+ (3/23/2020)

• United States of America Fatalities: 458+ (3/23/2020)

• Income tax filing deadline moved to July 15 (3/20/2020)

• BREAKING: The Federal Government has announced it will issue stimulus checks to qualified families and individuals.

  • $1,200 Per Adult Making Under $99,000 or $2,400 for Families Who File Jointly (Less Than $1,200 For Those Making More Than $75,000)

  • $500 Per Child

• BREAKING: All U.S. Citizens traveling around the world should return home ASAP or be prepared to stay abroad for an indefinite period. (3/19/2020)

• Foreclosures and HUD evictions have been halted for 60 days.

• CDC recommends ban on events of 50+ people. 

• The Players Championship was cancelled & PGA Tour is suspended.

• NBA, NHL, MLB and MLS have suspended their seasons. 

• All ski resorts have closed.

Health & Safety Tips:

• Social Distancing: Keep a Six Foot Distance From Others

• Try to Stay Home as Much as Possible

• Postpone or Cancel Meetings

• Wash Hands Frequently for 30 Seconds and Use Hand Sanitizer 

• Support Local Businesses: Buy Gift Cards to Use for Later

• Wipe Down Gym Equipment Before & After Use

• Take Vitamin C and Other Immune Boosters

• Cover your mouth when you cough or sneeze. Wash your hands after.

• Do Not Stock Up On Toilet Paper. It is a domestically manufactured good.

• Only Wear a Mask If You Are Infected.

Two Roads Development & Alpha Blue Ventures Launch The Arquitectonica-Designed Forté In West Palm Beach

A development partnership between Two Roads Development and Alpha Blue Ventures has launched Forté, a boutique luxury waterfront condo project, coming to West Palm Beach. Forté, which was approved in early March 2020, will be located at 1309 South Flagler Drive and Douglas Elliman Development Marketing will be the project’s exclusive sales and marketing brokerage.

Forté is designed by Bernardo Fort-Brescia of Arquitectonica and will rise 24-stories with only two residences on each residential floor. The expansive three- and four-bedroom residences will range from 4,200 SF to 8,400 SF with the option to combine residences for a full-floor home. Forté’s six-bedroom penthouse will span 8,900 SF of interior space and 2,000 SF of outdoor terrace space that includes a summer kitchen, a cabana bath and 360-degree views from a private pool. Every residence will provide unmatched views of the Intracoastal Waterway and Palm Beach island.

“Forté’s location in downtown West Palm Beach along the Intracoastal Waterway presents a rare opportunity for future residents to experience waterfront living in a vibrant and walkable downtown setting,” said Taylor Collins, managing partner at Two Roads Development. “Coinciding with the debut of our sales gallery, we look forward to the advent of construction and to making this project a reality.”

“We are excited to work with Two Roads Development and Alpha Blue Ventures on this groundbreaking project in South Florida,” said Jay Phillip Parker, CEO of Douglas Elliman’s Florida Brokerage. “Palm Beach County has seen a record-breaking year and with the market’s continued strength, we anticipate extremely strong interest in Forté and look forward to the project’s success.”

Two Roads Development, Alpha Blue Ventures and Douglas Elliman Development Marketing are currently completing a residential sales gallery which will soon open adjacent to the project site on South Flagler Drive. Pricing is expected to start at $4.9 million.

Images via Two Roads Development and Alpha Blue Ventures

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

Avison Young Completes 133,140 SF Of Industrial Leases In Broward County

Avison Young has announced it negotiated five industrial lease transactions totaling 133,140 SF in Broward County, Florida. The transactions were overseen by Avison Young Principals Tom Viscount and Wayne Schuchts. Sonny’s Enterprises, an international manufacturer and marketer of conveyorized carwash equipment, signed a 41,520 SF long-term lease expansion to fully occupy Westpoint Distribution Center at 5607 Hiatus Road in Tamarac. Colliers’ Ryan Goggins represented the landlord, Nuveen. Sonny’s Enterprises also signed a new 37,500 SF long-term lease at Tamarac Commerce Center at 6501 Nob Hill Road in Tamarac. Link Industrial Properties’ Eric Penaranda represented the landlord, GLP.

Stimwave, an online distributor and supplier of generic and brand name medicine, signed a new 26,000-square-foot lease at Park Central Business Park at 1310 Park Central Blvd. S in Pompano Beach. Duke Realty’s David Loudenslager represented the landlord. Lightfire Group, an e-cigarette and vapor distribution company, signed a 16,120 SF lease renewal at Westpoint Industrial Center II at 10601 State St. in Tamarac. Nothing Butt Cigarettes, a tobacco wholesaler and distributor, signed a 12,000 SF lease renewal at Westpoint Industrial Center II.

“West Broward and Pompano Beach continue to attract and retain industrial space users that value convenient access to locations throughout South Florida’s tri-county area via major thoroughfares,” said Tom Viscount of Avison Young. “Our clients had a differing range of space requirements in these tightening, in-demand submarkets, and it was a pleasure working with the landlords and their representation to meet those needs.”

The transactions reflect the continued robust demand for industrial space in Broward County. According to Avison Young’s year-end 2019 Broward County industrial report, West Broward, where Tamarac is located, posted the lowest vacancy rate in the county at 2.1%. Nearly 2.7 million SF of new industrial space was completed in the county, of which 1.1 million SF alone was delivered in Pompano Beach. The submarket still saw 456,773 SF of net absorption, indicating robust demand.

Melo Group Launches Pre-Leasing For Miami Plaza Apartment Tower In Downtown Miami's Arts & Entertainment District

Melo Group, one of Downtown Miami’s preeminent real estate development firms, is getting ready to open their latest residential tower addressing two of the city’s most-pressing issues, housing affordability and traffic. Ahead of its May opening and following its construction top-off in late 2019, Melo is now launching pre-leasing for Miami Plaza, its newest transit-oriented rental building in Downtown Miami’s Arts & Entertainment District in Miami’s urban core. The 425-unit Miami Plaza tower, situated adjacent to the Miami-Dade Metromover School Board Station at 1500 Northeast Miami Place, will complete the final phase of Melo’s 5-year plan to activate and inject new life into Downtown’s previously-desolate Arts & Entertainment District with more than 2,300 attainably-priced multifamily apartments and over 8,000 SF of retail/restaurant space.

“Although our renters are diverse,” says Melo Group Principal Carlos Melo, “we’re seeing strongest demand coming from millennials who prefer 24-hour, live-work-play environments over long commutes. We look for sites within easy walking distance of public transportation as well as shopping and entertainment venues. All of our developments in the Arts & Entertainment District are just steps away from the Metromover, providing easy access into Downtown Miami’s CBD and Brickell Financial District.”

Miami Plaza rises 36-stories and caters to a growing influx of young professionals in Downtown Miami seeking walkable live-work-play lifestyles without the commute. Units at Miami Plaza range from one- to three-bedrooms measuring from approximately 700 to 1,400 SF in size, with competitive rental rates ranging between $1,680 and $2,800 per month. Apartments at Miami Plaza will feature spacious living rooms, formal dining rooms, expansive balconies with glass railings, floor-to-ceiling sliding doors, energy-efficient tinted glass, European-style kitchen and bathroom cabinetry, granite countertops, double door refrigerators, stainless steel appliances, imported ceramic tile and laminated wood flooring, and full-size washer and dryers. Amenities will include a large 70-foot swimming pool, a fully-equipped fitness center, a café social lounge, 24-hour concierge/security, and a multi-level secured garage with valet service.

Melo Group’s father-and-sons team, led by Jose Luis Melo and his two sons Carlos and Martin Melo, has been a driving force behind Miami’s real estate resurgence since 2001, with the firm recognized today as one of the region’s preeminent developers of high-end residential developments in Downtown Miami. Upon its completion, Miami Plaza will become Melo’s 16th residential building delivered in the Greater Downtown Miami area, bringing the firm’s portfolio to nearly 5,000 total condo and rental units completed with another 2,000+ units in the works. Melo Group’s previously completed developments in the area are all clustered around the Metromover station within a few blocks of each other. Completed projects in the Arts & Entertainment District include the 497-unit Melody Tower, which delivered in 2016; the 710-unit Square Station towers, which delivered in 2018; and most recently, the 667-unit Art Plaza towers, which delivered in 2019. Melo Group’s next residential project, Downtown 5th, is now under construction at 55 NE 5th Avenue in Downtown Miami’s Central Business District. With completion slated for 2021, the luxury apartment complex will include twin 51-story towers with 1,042 rental units and more than 5,000 SF of ground-floor retail/restaurant space.

“The Arts & Entertainment District’s concentration of attractions – from world-class cultural venues to dozens of dining and shopping choices – cater to every taste,” says Melo Group Principal Martin Melo, “as does the district’s proximity to other hot neighborhoods such as Wynwood, Miami Design District and Midtown Miami. Our newest buildings in the area have an exciting collection of newly-opened and upcoming restaurants and retail offerings to serve the everyday needs of our residents. Everything you need is within just a few blocks from your apartment.”

Melo Group is bringing life to the area with a total of more than 45,000 SF of new retail and restaurant space at the base of their apartment buildings to serve tenant’s everyday needs. Some of the community’s newest tenants include Bunbury, Bistro Café, Tapout Fitness, My Salon, Spot Barbershop, Shine Nail Salon, New York Roma Pizza and Testa Wines. Melo is also gearing up for the Summer 2020 debut of “Art Kitchen” – an indoor/outdoor dining promenade at the base of the firm’s Art Plaza towers that will feature ten different restaurant concepts with cuisines ranging from Indian, Peruvian, Mexican, Japanese, Italian and more.

Galium Capitals Acquires 1333 Main Street Office Assemblage In Downtown Columbia, SC

Galium Capital, LLC, a Miami-based private equity group, has announced the acquisition of 1333 Main St. in Columbia, SC. 1333 Main St. is a premier office building and assemblage in the Downtown CBD of Columbia. The transaction closed for $29,350,000 on February 27, 2020.

“1333 Main is a premier office building in the heart of Main Street in an irreplaceable location in Downtown Columbia. The asset is stabilized and consists of a diverse high-credit tenant mix from both public and private sectors. We see strong potential for the building’s long-term performance as well as the growth of the Downtown Columbia market, specifically on Main Street, over time, and are excited about this latest acquisition,” said Jonathan Slomianski, Acquisitions Associate at Galium Capital.

1333 Main St. was originally built in 1983. Today, the property spans 224,315 SF on 1.83 acres of land on Main Street, a main office corridor. 1333 Main St. was 92% leased at acquisition with a high-credit tenant mix including PWC, CBRE, South Carolina Education Lottery, South Carolina Workers Compensation Commission and Ameris Bank, amongst others.

In addition to the main office building, the total assemblage at 1333 Main St. includes the neighboring developed Vista Garage parking garage across the street with ground floor retail; as well as the adjacent service lot. Tenants in the retail component include the South Carolina Education Lottery, The United States Government and Enterprise Rent-A-Car, amongst others.

“1333 Main Street presented a rare opportunity to acquire a true, Downtown Central Business District office asset just down the road from the state capital of South Carolina. South Carolina is a business-friendly market with a growing economy and population. We are proud to have some of the best tenants in the market,” said Jacques Bessoudo, Managing Partner of Galium Capital.

Huston Green from JLL represented the seller, Albany Road Real Estate Partners, a Boston-based private investment group. Jonathan Zilber from Meridian Capital secured the debt for buyer. The buyer, Galium Capital, manages over $350 million of commercial property comprising of multifamily, office, and retail assets across different national markets. 1333 Main St. is their first acquisition of 2020 and first acquisition in Columbia, SC.