Cordova Building In Fort Lauderdale Trades For $7 Million In Off-Market Office Transaction

The Cordova Building in Fort Lauderdale has sold for $7 million in an off market transaction. Southern Centers Associates I LP, led by longtime Fort Lauderdale developers and investors Kevin Buckley and Randall Kella, sold the 1500 Cordova Road property to Sunrise-based Centerline Capital Advisors. The transaction closed on April 6 and was represented Native Realty CEO Jaime Sturgis who represented both sides of the transaction.

The 29,333-square-foot office building sits on a 0.8-acre property. Willis Tower Insurance and Luke Brown Yachts are two of the building’s notable tenants. Sturgis was engaged by the seller to handle the discreet off-market disposition process.

Centerline actively purchases and manages income-producing assets in South Florida. The company was launched in 2013 to continue the legacy of predecessor Centerline Homes, a prolific homebuilder that was acquired by Standard Pacific.

The Cordova Building sale is Native’s second significant closing in the past few days. Sturgis and Senior Associate Dan Ross represented the sellers in the $11 million sale of the future site of Advantis Station at Flagler Village on March 31. The duo brought together four different property owners to complete that transaction.

“From complex land assemblages to trophy office buildings, we are making significant deals happen in a tight market with limited inventory,” Sturgis said. “With the off-market Cordova Building sale, we identified the right buyer to execute quickly and allow the seller to have a smooth exit. We are actively looking for more inventory to help sellers realize maximum value for their properties.”

El-Ad National Properties Breaks Ground On ALINA Residences Phase Two In Boca Raton

El-Ad National Properties, an Elad Group company, has broken ground on phase two of ALINA Residences, a world-class residential destination in the heart of Boca Raton. Phase two includes two nine-story residential buildings (ALINA 210 and ALINA 220) and will complete the entire project.

At the groundbreaking ceremony, El-Ad National CEO Noam Ziv announced that phase two of ALINA Residences is already 40% sold. Phase two construction is slated to be completed by Q3 2024. Phase one construction was completed in March 2021.

“Following the success of ALINA Residences’ phase one, it is extremely exciting to break ground on phase two with it already being 40% sold.” said Ziv. “We believe this early sales activity is a reflection of the marketplace recognizing ALINA as a truly unique residential destination. We continue to be proud to be a part of Boca Raton’s emerging downtown scene.”

In attendance of an exclusive groundbreaking event were El-Ad National CEO Noam Ziv, Boca Raton Mayor Scott Singer, Boca Raton Deputy Mayor Andrea Levine O'Rourke, Boca Raton CRA Chair Monica Mayotte, Boca Raton Council Member Yvette Drucker, Boca Raton CRA Vice Chair Andy Thomson, Douglas Elliman Florida CEO Jay Phillip Parker, Moss Construction Chairman and Founder Bob Moss and other local dignitaries.

The centerpiece of ALINA Residences, ALINA 210 will stand nine stories tall and feature 30 exquisite corner residences. With a maximum of four residences per floor, ALINA 210 will offer residences with three to four bedrooms with den floor plans. Ranging in size from approximately 3,300 to 5,400 square feet, the ALINA 210 residences’ pricing starts at $3.5 million. ALINA 210’s suite of thoughtfully curated amenities will be exclusive to the 30 residences.

With 152 residences, ALINA 220 will be the most similar building to phase one (ALINA 200) with a great emphasis on European-designed kitchens, rain showered bathrooms, and elegant organic craftsmanship throughout. The residential building will include a wide array of one- to four-bedroom with den floor plans, ranging in sizes from 1,400–5,400 square feet and pricing from $1.7 million to over $8 million.

Phase two will add an extra two acres of private outdoor amenity space to ALINA. All ALINA residents enjoy spectacular amenities such as his and hers spa facilities with dry saunas, steam rooms, treatment rooms and relaxation rooms; state-of-the-art fitness centers, multiple rooftop swimming pools with private cabanas, fire pits, dedicated yoga areas, highly appointed club rooms, two dog parks and more.

Douglas Elliman Development Marketing is the exclusive sales team for ALINA Residences.

ALINA Residences, located at 200 Southeast Mizner Blvd., Boca Raton, FL 33432, is tucked between the manicured green fairways of The Boca Raton and Southeast Mizner Boulevard. It offers premier access to nearby shopping, dining, and cultural destinations.

Renderings via ALINA Residences

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

Master Brokers Forum Listing: Step Inside A Coconut Grove Waterfront Estate In The Exclusive Camp Biscayne Asking $48 Million

Master Brokers Forum member Elena Bluntzer presents this extraordinary property; located in a beautiful, woodsy, private enclave where only 26 homes enjoy its exclusivity. Camp Biscayne is one of Miami's best-kept secrets, nestled in the heart of Coconut Grove. Custom-designed and built for its current owner, this tri-level gem was just renovated and is ready for its new owners. With over 300 feet of waterfront, a new seawall, multiple entertainment areas inside and out, this special house meets the most discerning demands of those who like to entertain and live on the open bay in Miami. The interior layout offers 180-degree views of Sailboat Bay, a true chef's kitchen, Jerusalem stone floors in living areas and Mahogany wood floors, adding a cozy and warming feeling to each room. Meticulous details and finishes as well as soaring 30 feet coffered ceiling and many more added features. 

3080 Munroe Dr., Miami, FL 33133 is currently listed for $48,000,000 with Elena Bluntzer of ONE Sothebys, who can be reached at 305-992-7987 and/or ebluntzer@onesothebysrealty.com.

The Master Brokers Forum is a local network comprised of South Florida's elite real estate professionals. Learn more at www.MasterBrokersForum.com.

Images via Elena Bluntzer/ ONE Sotheby’s International Realty

This article was produced in partnership with Master Brokers Forum

6111 Broken Sound Parkway In Boca Raton Signs Over 22,000 SF In Office Leases

Alchemy-ABR Investment Partners, a fully integrated New York based real estate investment firm- together with its joint venture partner, Breakers Capital Partners, a Miami based real estate investment firm, have announced that it has signed 22,241 square feet of new leases and renewals at its Class A office building, 6111 Broken Sound Parkway in Boca Raton, FL.

Among the new group of tenants at the Atrium at Broken Sound are TGI Solar Power, which signed a seven-year, 7,728-square-foot lease; as well as PointsKash, the first blockchain enabled conversion platform that allows consumers to aggregate, convert and spend loyalty points, which committed to a 1,980-square-foot pre-built space with exposed ceilings; and Research Underwriters, which specializes in auto insurance and workers compensation for the transportation industry, and is taking 1,587 square feet of space. All three tenants had existing operations in Florida, but recently relocated to Boca Raton.

Additionally, Weinstock, Lovegrove and Reeg, CPAs and Consultants, a full-service public accounting and consulting firm, signed a three-year, 2,142-square-foot lease renewal at the property. Alongside Exam Coordinators Network, which provides a wide array of services to assist clients in managing the cost of medical claims and cases, and signed a five-year lease renewal for 8,804 square feet.

“The heightened leasing activity at the Atrium at Broken Sound together with retention of existing tenants illustrates the strong demand in the South Florida office market,” said Brian Ray, Co-Founder and Managing Partner of Alchemy-ABR Investment Partners. “This building is particularly attractive following our $1.25 million investment in modernizing and renovating common spaces throughout the building including the lobby, conference rooms, elevators and the parking garage.”

6111 Broken Sound Parkway offers best-in class office spaces and as a part of the building’s continued plan to upgrade the tenant experience, Alchemy-ABR and Breakers Capital are currently undergoing an update of the facade, as well as the addition of pre-builts to all vacant office spaces.

CBRE is the exclusive leasing agent for the building, led by Jeffrey Kelly, Joe Freitas, and John Criddle, and represented Alchemy-ABR and Breakers Capital on all deals. TGI was represented by Beth Lawrence with Lehman Realty, while the other two new leases were done in-house. Ryan Nunes with JLL represented Exam Coordinators.

Image via CBRE

North Miami Beach Financial Center In Opportunity Zone Trades For $9.3 Million

The North Miami Beach Financial Center, a 2.47-acre site featuring a two-story Regions Bank building located in an opportunity zone at 16051 W. Dixie Highway in North Miami Beach, has sold for $9.3 million. Ivan Herrera of Florida Royalty Investments Group LLC acquired property from Alberto Lensi of Addi Properties. Adam J. Tiktin and Greg Matus of Franklin Street’s Florida Investment Sales Team represented the seller in the transaction.

North Miami Beach Financial Center was originally constructed in 1972. The SAE Institute has been a tenant of the Regions Bank building since 2002. The property features strong fundamentals including 675 feet of frontage along West Dixie Highway, easy access, sufficient parking and an excellent location. Situated two blocks from the signalized intersection of Biscayne Boulevard and NE 163rd Street, the site experiences traffic counts of 49,500 and 43,500 per day respectively

Former Bridgewater Associates CTO Buys AKAI Estates Residence For $8 Million In Southwest Ranches

Prasad Hedge has joined bigwig investors migrating to South Florida from Connecticut. Hedge, who was previously a CTO with Bridgewater Associates, a premier asset management firm owned by Founder and Co-Chief Investment Officer Ray Dalio, purchased an estate in Southwest Ranches Akai Estates for $8 million. Hedge is currently COO at 777 Partners, the Miami based private investment firm which is deeply involved in international sports teams and league investment. 777 Partnes has more than $3 billion in assets under management with several high-profile investments in international soccer including La Liga’s Sevilla FC, Genoa C.F.C., the Brazilian club Vasco de Game and Belgian club Standard Liège.

“When moving my family from Connecticut, we were seeking a new, modern designed single-family community. Ideally, we wanted a home within close proximity to both Miami and Fort Lauderdale. It was also important for us to be near top ranked schools. We have been working with design consultants and architects at AKAI Estates, and the process has been seamless,” said Prasad Hedge.

This sale is proof of the luxury buyers and wealthy execs continuing to bet big in South Florida. More specifically, sights are set on Southwest Ranches, a neighborhood that has seen an influx of these wealthy buyers. Hedge chose to move his family from Connecticut to AKAI Estates in Southwest Ranches in order to have a luxury single family home, while not sacrificing space or land. AKAI Estates is a luxury pre-construction single family estate community with two acre lots per home. Southwest Ranches has historically appealed to wealthy execs and business leaders looking for sprawling estates and exclusivity, keeping close proximity to Miami at just 15 miles away.

Located within the estate community, the impressive bright and airy home will be situated on a two-acre lot. It features six bedrooms and eight and a half bathrooms within two floors of open space. The model selected by Hedge includes two sundeck pavilions, one that leads to the glass-walled home gym, with a custom sunken living room and firepit. The home’s upscale summer kitchen boasts appliances by Miele. The home’s dazzling 2,343 square-foot infinity-edge pool is ideal for entertaining, surrounded by lush landscaping as well as a private sports court. The home also offers indoor entertainment with a theater space. With conceptual design by internationally acclaimed Vasco Vieira, in partnership with local architect of record Jiro Yates, the home beautifully merges indoor and outdoor living spaces.

“As a response to the single-family home shortage in South Florida, AKAI Estates is delivering 16 signature luxury estates tucked away in one of South Florida’s most sought-after residential havens, Southwest Ranches. As part of a prestigious suburban landscape, the 44-acre community offers five distinct residential floor plans, each delivered on two acres of private property which makes AKAI even more unique,” said Alex Yokana, Developer of AKAI Estates.

AKAI Estates is a collection of 16 signature luxury homes tucked away in Southwest Ranches, one of South Florida’s most sought-after residential havens. The 44-acre property offers 5 distinct residences to choose from, each delivered with two acres of private property. AKAI Estates is being developed by Alex Yokana, Jairo Vela, and Amos and Michael Sochaczevski. Bento Queiroz Team under Compass is the exclusive sales team for the development.

Check Out The Most Expensive Penthouse In Coral Gables Listed For $14.9 Million At Villa Valencia

A wellness escape in the sky, this upper penthouse at Villa Valencia is expected to shatter records once sold. It’s currently the most expensive condo listed in Coral Gables at $14.9 million. The building holds the record for most expensive condo sale of the lower penthouse for $6.5M. Villa Valencia is being developed by Location Ventures and will deliver early this year.

Designed with wellness in mind, the ultra-luxury penthouse is a full floor four-bedroom, five and a half-bathroom residence, with office and den. In addition to the typical features that make for life in the lap of luxury such as rain showers, Wolf appliances, Brizo fixtures and more, the most unique aspect of this residence is its more than 4,000 SF of outdoor space, complete with a summer kitchen, bar and dining area, buyer’s option plunge pool and meditation space. A product of the pandemic, an expansive, and highly functional outdoor terrace for condo buyers is the new necessity. Further aiding in residents’ health, high-tech air and water filtration, via the Delos DARWIN system.

Each residence interior at Villa Valencia 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 features a modern take of Coral Gables’ signature Mediterranean architecture style, designed by Hamed Rodriguez Architects.

In the boutique building, residents can enjoy an amenity portfolio that leaves no stone unturned. The wellness program includes a hammam, steam room, his-and-her saunas, hydrotherapy plunge pools, alongside a state-of-the-art fitness facility with areas for yoga, Pilates and weight training. For outdoor enjoyment, a 78-foot resort-style pool with a lap lane and waterfall is complemented by two summer kitchens and spacious sunbeds for relaxation. A dinner party can be hosted in the Cucina, while a game night can take place in the lively entertainment room, followed by movies in the theater. An executive room with video conferencing allows professionals to work from home with ease. It overlooks the adjacent park, whose grassy field features a large sculpture and water features. Nearby a dog run is perfect for pet lovers.

For residents looking for additional private space, poolside cabanas and private garages are also available for purchase.

Villa Valencia is also pursuing a National Green Building Standard certification, along with bespoke residence services such as closet organization, physician-led health evaluations, acupuncture, dietician-led consultations and more via its Elevate Wellness brochure.

Located in the heart of the City Beautiful, the building has direct access to Miami International Airport and is blocks from Miracle Mile. The Greater Miami Area is a rapidly expanding economic hub, and Coral Gables alone is 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 steps to Villa Valencia.

30 Palm Avenue On Miami Beach's Famed Palm Island Hits The Market For $43 Million

A contemporary estate located at 30 Palm Ave. on Miami Beach’s famed Palm Island has hit the market for $43 million. Magnificently redesigned, the 2-story waterfront estate on guard-gated Palm Island is situated on a manicured 32,000-square-foot lot, offering 100 feet of sparkling waterfront on Biscayne Bay. The 13,144-square-foot bright and airy gated residence features nine bedrooms (including two staff rooms), eight bathrooms, and one half-bathroom. The residence is being sold furnished and is listed with Jill Eber and Jill Hertzberg of The Jills Zeder Group, affiliated with Coldwell Banker Realty in Florida.

“This stunning modern waterfront home located in the prestigious estate section of guard-gated Palm Island is ideal for a family or couple wanting incredible amenities as well as an amazing estate-sized lot,” said Jill Eber of The Jills Zeder Group. “The property’s southern exposure provides natural light to flow through tall walls of glass into the home to enjoy true indoor-outdoor, luxury living at its finest.”

30 Palm Ave. features distinctive features include large plank rich hardwood floors, an interior elevator, pet room, full waterfront gym, movie theater with 11 comfortable leather recliners and a 132” projection screen, and an additional second-floor family/media room plus waterfront recreation room.

The residence offers an expansive living room and dining area boast soaring ceilings, are separated by a custom-built stone wall for privacy, and lead to a beautiful family room. The gourmet kitchen features a black granite center island, countertops and backsplash; top-of-the-line Wolf gas range, two Sub-Zero refrigerator/freezers, custom cabinetry, a butler’s pantry, and industrial-sized walk-in freezer.

The private second-floor principal suite is surrounded by walls of glass, and features a large private terrace overlooking the pool deck below with views to the water. The principal bathroom boasts exquisite Carrara marble walls and floors, a full walk-in rain shower with dual shower heads, sunken spa tub with water jets, and separate water closets. The additional eight bedrooms are spacious and uniquely designed.

The tropical outdoor area features a large pool with a Jacuzzi, coral stone-paved pool deck, professionally designed landscaping with tropical plants and soaring palms, full outdoor lighting, comfortable covered seating areas, a summer kitchen and capturing views to the downtown skyline. The residence also features a private 100-foot IPE wood dock that can accommodate a large vessel, and direct access to Biscayne Bay and the Atlantic Ocean. The home offers parking space for 12 cars, as well as a 4-car garage.

Located just south of Hibiscus Island, Palm Island is a man-made island in Biscayne Bay. The entire island encompasses 82 acres and offers amazing vistas of the downtown Miami skyline and breathtaking sunset views. It is ideally located just minutes from downtown Miami, Miami Beach and the beaches, fine dining and shops, cultural venues, the Design District, prestigious schools and Miami International Airport.

“Palm Island is one the most sought-after residential locations in South Florida,” said Jill Hertzberg of The Jills Zeder Group. “Embodying the pinnacle of South Florida waterfront luxury living, this exclusive island beckons with breathtaking views and proximity to the best attractions and schools Miami has to offer.”

Images via 1OAK Studios

Bentley Motors And Dezer Development Reveal New Renderings of Bentley Residences Miami

Bentley Motors, in collaboration with Dezer Development, has revealed new renderings of Bentley Residences Miami showcasing the stunning views and lavish interiors at the ultra-luxury waterfront development coming to Sunny Isles Beach. Bentley Residences Miami is first Bentley-branded residential tower in the world. Setting an entirely new standard for luxury living, these two pioneering industry brands have joined forces for one of the most revolutionary, highly-anticipated partnerships in the world of luxury and hospitality. Dezer Development is led by Gil Dezer and has been one of the most active developers transforming the Sunny Isles Beach skyline.

Bentley Residences Miami will feature 216 exquisitely finished residential units, each embracing an exquisite balance of indoor/outdoor living. Pricing starts at $4.2 million and every unit will encompass an individual balcony swimming pool, unobstructed seascapes, and floor-to-ceiling glass windows seamlessly implemented throughout.

Bentley Residences, set to debut in Sunny Isles Beach in 2026, marks the world’s very first Bentley branded luxury residential property. Conceptualized by top U.S property developer, Dezer Development, designed by the world-renowned architectural firm Sieger Suarez Architects - known for their work on Dezer Development’s Porsche Design Tower and Residences by Armani/Casa the tower will feature uninterrupted views of the ocean and waterways, bringing the beauty of the outdoors into each new home.

The Bentley design team is collaborating with Dezer on the interior and exterior architecture of the building, translating Bentley’s luxury design to the residential experience. Built with luxury car owners in mind, each residence will include an in-unit multi-car garage and a patented car Dezervator alongside all the most desirable luxury amenities and world-class services. Designed by world-renowned architectural firm, Sieger Suarez Architects, the luxury residential tower is designed to appeal to Bentley’s and Dezer Development’s most discerning customers.

Bentley Residences Miami’s 12,000 sqft. sales gallery will unveil in April 2022, giving buyers a first-hand glimpse of the private beachfront enclave that will encompass a one-of-a-kind collection of residences. Poised to be nothing short of extraordinary, the sales gallery will feature an actual full-size 6,000 sqft. model unit replica within, establishing this particular sales gallery as the first of its kind for brokers and potential buyers. The Bentley Residences sales gallery will be located at 18325 Collins Avenue.

East Unit

West Unit

Amenities

Exterior

Renderings via Bentley Residences Miami

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

KUSH Building In Wynwood Sells For $2.6 Million

2003 North Miami Ave., a mixed-use property which is home to longtime Wynwood staple restaurant KUSH, has sold for $2.6 million. The transaction closed on March 25. Matt Kuscher, owner of Kush Property LLC, purchased the property from Michael Lilov. Both sides of transaction were overseen by Devlin Marinoff, Tony Arellano P.A. and David Richman of DWNTWN Realty Advisors.

The two-story mixed-use building totals 7,562 square feet on the highly trafficked North Miami Avenue corridor in Wynwood, which has been experiencing incredible development and corporate relocation activity. The building features three retail spaces and 10 studio apartment units on the second floor.

Kuscher brought his KUSH concept to Wynwood and quickly turned it into a Wynwood staple beloved by burger enthusiasts. KUSH Hospitality took home the coveted People’s Choice Award during the South Beach Wine and Food Festival’s 2021 Burger Bash, an annual competition that draws more than 30 chefs and restaurants from around the country. The gastropub is also a supporter of the neighborhood’s renowned art scene, displaying eye-catching pieces from local artists on its walls.

“Wynwood is entering a new era as a well-rounded professional, residential, dining and entertainment destination,” Marinoff said. “That shift is inspiring a flurry of investment activity. Established local investors are seeking to expand their holdings in Wynwood, while new-to-market players are eager to expand into the neighborhood.”

Wynwood has been a hot market recently as more than 400 businesses have moved into the neighborhood in including Blockchain.com, OpenStore, WeWork, Founders Fund, Spotify, Live Nation, Atomic VC, GAC Financial, Ramp Financial, Schonfeld and others. Currently, more than 3,500 new residential units, 400 hotel rooms and 1 million square feet of office space are in the pipeline. Wynwood’s 50-block district also has one of the most dynamic culinary scenes in the United States with a variety of highly rated restaurants including doma, Omakai, Hiden, Hiyakawa, Momosan, Uchi, Mister 01, Kyu, Bakan, Beaker & Gray and Pastis.

Recent notable transactions include Forte Capital and Sheridan Capital’s flipping 2830 NW Fifth Ave. for $11.2 million just mont’s after acquiring it for $6.35 million from from Alex Karakhanian’s LNDMRK Development. In February Related Group and East End Capital sold Wynwood Annex in February for $49 million and UOVO Storage Deluxe acquired of a core Wynwood development site at 330 NW 29th Street for $11.5 million from Red Group Estate. In August 2021 the Brooklyn-based developer LivWrk acquired a 2.45 acre assemblage for $38.86 million and David Edelstein’s TriStar Capital and RAL Development acquired the final 13,250 SF piece of their 72,000 SF Wynwood assemblage where an office campus is planned for $13 million.