Miami Design District Becomes The First Neighborhood In The World To Achieve LEED Gold Certification

The Miami Design District has achieved the prestigious LEED Gold certification, becoming the first neighborhood in the world to achieve the Gold level (LEED ND: Built v4 Gold). Miami Design District marks the third neighborhood in the world to achieve LEED certification, which means “Leadership in Energy and Environmental Design,” for Neighborhood Development (version 4 Built). The trendy, luxury shopping, art and entertainment enclave is setting the bar for sustainable development in communities across the country.

Miami Design District is home to a number of luxury fashion houses, art galleries, fine dining experiences, and cafés. The open-air, pedestrian-friendly neighborhood, known for its many distinct and artistic façades, notably boasts a highly energy-efficient infrastructure.

Amongst the many sustainability aspects of the neighborhood’s redevelopment focus, several to highlight include: the re-infiltration of rainwater and restored natural hydrology made possible by the additions of expansive vegetated and high-albedo white roofs and tree-shaded streets, enhanced walkable streets and pedestrian walkways that promote community connectivity and encourage visitors to spend more time outdoors, and the integration of innovations from other Green Building Standards, including the WELL's feature "Beauty and Mindful Design," which incorporates different design elements and artwork that lend to a more calming environment.

In 2011 Island Planning Corporation (IPC) was brought in by DACRA and L Catterton Real Estate to design the Landscape Masterplan for the neighborhood. Miami Design District was inspired by the worlds leading shopping districts including Fifth Avenue and Rodeo Drive. IPC helped to establish a sophisticated visual continuity throughout the neighborhood, with mature canopy-covered streets and walkways, sculptural specimen trees, and extensive rooftop gardens.

Spinnaker Group, one of the most respected leaders in the green-building movement, provided LEED for Neighborhood Development consulting and energy modeling for this distinctive project, marking the neighborhood’s 4th earned LEED certification. Spinnaker Group also provided LEED Consulting, Building Commissioning and Energy Modeling for three other landmark projects within the Miami Design District including the Garden Building, featuring an intensive rooftop garden lounge designed by Island Planning Corporation (LEED Gold certified in 2013) - Palm Court, featuring underground parking to allow for a large open courtyard above for pedestrians and artwork, such as the Buckminster Fuller’s futuristic Fly’s Eye Dome (LEED Gold certified in 2015) - and most recently, Paradise Plaza, featuring intensive green roofs and underground parking with a large plaza above for pedestrians and artwork (LEED Gold certified in 2020).

Tricera Capital Locks Down $50.8 Million In Construction Financing For Mixed-Use Redevelopment The Press In West Palm Beach

Tricera Capital, led by Scott Sherman and Ben Mandell, have closed on $50.8 million in refinancing and construction financing for their mixed-use office and retail redevelopment The Press, located at 2751 South Dixie Highway in West Palm Beach. The loan was provided by the Chicago-based Monroe Capital. Tricera Capital was represented by Jason Krane and Simon Ziff of Ackman-Ziff Real Estate Group.

Tricera Capital acquired the former Palm Beach Post campus in March 2019 for $24 million. The redevelopment of the property is an example of creative adaptive re-use and expected to reinvigorate the city’s Dixie Highway corridor. The property was a former printing press and distribution facility and nearly all existing structures are to remain, including the Post’s office building and printing press. The project name is a nod to the Post’s legacy at the site.

The Press is divided into two components, The Shops at the Press, the 125,000 square foot retail component, and the adjacent Workspaces at the Press, the 140,000 square foot office component. Joseph’s Classic Market will serve as the retail anchor which was announced in February 2021 and the property will also feature a newly built Starbucks outparcel.

Last Mile Investments Acquires Jupiter Retail Plaza From Elion Partners For $18.5 million

The Cincinnati-based Last Mile Investments have acquired the Pennock Square retail plaza in Jupiter for $18.5 million from the North Miami Beach-based Elion Partners, led by Shlomo Khoudari. Huntington National Bank financed the deal with a $12.95 million mortgage. The property was listed with Kirk Olson, Drew Kristol and Alex Zylberglait of Marcus & Millichap as well as Patrick Wagor of Atlantic Retail.

Pennock Square is located at 901 W Indiantown Rd. in Jupiter, FL and was developed in 1997. The property spans 43,485 square feet and sits on 4.16 acres. Tenants include Aspen Dental, Vitamin Shoppe, Club Champion, T-Mobile, Pizza Hut and Stanton Optical. The property last sold for $15.55 million in 2014.

The Oasis Wynwood Is Gearing Up To Open In A Few Weeks With Six New Restaurants

The Oasis in Wynwood is gearing up to open in the next few weeks with six restaurants and a 75’ tall “Tower Bar” made out of shipping containers featuring a mural by Antonio Marest. The restaurants include Mr. Mandolin (Mediterranean), Prince Street Pizza, Los Buenos (taqueria), Alidoro (Italian), Buya Dumplings + Buns (Asian street food), and Chikin (crispy chicken concept). There will also be an indoor/outdoor cocktail lounge and nightclub named Huacachina inspired by Huacachina, Peru. The Oasis also features a selection of retail space, art studios, cafes and an outdoor stage for live performance. The indoor/outdoor urban campus is designed by Urban Robot Associates and is being developed by Carpe Real Estate Partners.

The Oasis encompasses 70,000 SF including 35,000 SF of former warehouse space converted into 20,000 SF of creative office space with a 2,500 SF rooftop and 17,000 SF of retail space. Outside offers 35,000 SF of heaving landscaped outdoor courtyard space with an outdoor food hall and the 75’ tall “Tower Bar” to activate the outdoors and complete the urban campus. Retail suites range from 1,000 SF to 6,000 SF.

For more information about commercial leasing in The Oasis, private showings or availability/ pricing information please fill out the form below:

RedSky Capital And JZ Capital Partners Sell Wynwood Block For $24 Million

A partnership between RedSky Capital and JZ Capital Partners has sold the retail building known as Wynwood Block for $24 million, $969 per square foot, to Wynwood Block Realty LLC. The sale reflects a $2 million loss from the $26 million, $1,050 per square foot, the partnership paid for the property in 2015. The transaction was financed with a $12.2 million mortgage provided by Valley National Bank.

Located at 190 NW 27th St. and 2621 NW 2nd Ave., the building spans 24,763 square feet and the total site spans 36,750 square feet, .87 acres. Tenants include Wynwood Diner, Aesop, Mister Block Cafe and Italia Independent.

In September 2020 the RedSky Capital and JZ Capital Partners joint venture sold a 1.25 acre development site located at 2700 NW 2nd Avenue in Wynwood for $26.06 million to New York-based real estate investment and development firm Seven Valleys. The sale marked a $4.69 million loss from the $30.75 million the partnership paid for the property in 2016.

For more information about commercial properties in Wynwood including sales, leasing and private showings please fill out the form below:

Aztec Group Secures Debt & Equity For Retail Acquisition In South Carolina

Aztec Group, Inc., Florida’s leading real estate investment and merchant banking firm for the past 40 years, has announced that Managing Directors Jason Shapiro and Sean Harrington, and Senior Associate, Joel Zusman secured a $10.75 million, 60% loan-to-cost, non-recourse loan and joint venture equity for the acquisition of Chapin Crossing, a 72,714 square foot Publix-anchored shopping center located in Chapin (Columbia MSA), South Carolina.

Located at 1235 Chapin Road, the property was built in 2017 and is situated at the southwest corner of Chapin Road and Lexington Avenue on 13.6 acres of land. Chapin Crossing is comprised of a 45,600 square foot Publix, 13,950 square feet of in-line space and a 13,164 square foot multi-tenant outparcel. The Property’s tenants include Anytime Fitness, Marco's Pizza, Bank of America, Palm Beach Tan, Pacific Dental, Jersey Mike's, Verizon and Palmetto Health.

Aztec Group represented the buyer, a partnership led by affiliates of Miami, Florida-based CF Properties Corp. The lender is a Missouri-based life insurance company, and the loan was executed with a fixed rate under 3.0% for ten years. “The low, fixed interest rate will further support the buyer’s objective of strong and long-term cashflow, which has become difficult to find today,” said Sean Harrington.

Over the last 90 days, Aztec Group’s team has closed over $250,000,000 in debt and equity engagements for multifamily, retail, office, land and industrial properties across the Southeast.

Pura Vida, Harry's Pizza And The Salty Coming To Miami Beach's Iconic Lincoln Road Despite Pandemic

As the retail industry worldwide continues to struggle amid the pandemic, Lincoln Road is once again demonstrating its resiliency. By putting all of its efforts towards ushering in a health and economic recovery at the onset of COVID-19, including creating unique and socially distant programming and aligning with brands that enjoy a local cult-like following, the Lincoln Road Business Improvement District is seeing a surge in foot traffic and new brands that want to establish a brick-and-mortar presence in the iconic shopping and entertainment district.

The latest dining concepts coming to Lincoln Road are Pura Vida, a fixture in Miami’s health-conscious dining scene, and The Salty, the artisan donut shop with one-of-a-kind flavors. Also opening on The Road are fine-art gallery Kush Fine Art, which has locations in Nevada, California and Hawaii; CBD experts Alter Native; heralded local optometrist Eyes Desire created by Dr. David Roth and Dr. Ashley Roth; and Kumpan Electric, purveyors of all things electric scooters.

In addition to these exciting new retailers, visitors can look forward to the previously announced restaurants and retailers coming soon to Lincoln Road, including Harry’s Pizzeria by James Beard award-winning chef Michael Schwartz; Amazon’s Flagship 4-Star Store; Yoyoso, the fashion and lifestyle brand hailing from China; and the first U.S. outpost of Colombian restaurant Andres Carne de Res, a unique concept that will mix delicious food with lively music, entertainment, and tableside theater.

“The Lincoln Road BID is incredibly excited and optimistic about the future of retail on Lincoln Road,” said Tim Schmand, executive director of the Lincoln Road Business Improvement District (BID). “The District is overflowing with new, unique concepts that have enhanced the outdoor experience for visitors as you shop, dine, stroll, and celebrate along Lincoln Road. Alongside collaborations with our district’s acclaimed performing arts institutions, our cafes and restaurants, our retail pop-ups, and our newly unveiled eight-block long botanic garden partnership with Fairchild Tropical Botanic Garden, these new retailers will help us continue ushering in a new, modern chapter for Lincoln Road.”

Terra And Grass River Property Break Ground On Grove Central In Coconut Grove

Terra and Grass River Property have broken ground and are beginning vertical construction on Grove Central, a new mixed-use multimodal transit hub at the entrance to Miami’s Coconut Grove neighborhood. When complete Grove Central will be 23-story apartment building and home to South Florida’s newest Target and Total Wine stores. Located at the intersection of US-1 and SW 27th Avenue, Grove Central will include about 400 multifamily apartments and workforce housing units alongside a new 898-space public parking garage, 172,000 square feet of lifestyle-oriented retail and an upgraded Metrorail station that integrates directly with The Underline linear park, Miami-Dade’s bus system, and the City of Miami’s popular trolley network.

Grove Central has been designed to create a transit-oriented hub offering a seamless pedestrian experience that encourages Metrorail ridership and urban living. The project is being developed as part of a Miami-Dade County initiative aimed at improving connectivity between residential living, commercial development and mass transit through private development on County-owned land.

Terra Unveils Master Plan for CentroCity Mixed-Use Development in Miami and Signs 77,000 SF Lease with Target

Terra, one of South Florida’s most active residential and commercial development firms, has announced plans for the redevelopment and repositioning of what is currently known as Central Shopping Plaza into a 38-acre mixed-use project in the center of Miami-Dade County. The master plan for the newly reimagined community, CentroCity, includes up to 1,200 market-rate residential apartments, green space for residents, an office building, and a revamped shopping center with 300,000 square feet of lifestyle-oriented retail and restaurant space anchored by a 77,000-square-foot Target store.

Located in Miami’s West Little Havana neighborhood, CentroCity will come alive in multiple phases, beginning with the redevelopment of the property’s retail component with a newly re-imagined façade, common areas, landscaping, and signage. The project’s first phase of residential development will follow, encompassing three 8-story multifamily buildings with 460 garden-style rental apartments. Future phases with additional multifamily units and a 250,000 square foot class A commercial office building are also planned. Construction is expected to commence in Summer 2021.

The plan’s residential component has been designed by Arquitectonica, while the retail upgrades have been conceived by RSP Architects. The vision includes seven new multifamily buildings lining the perimeter of the property behind the L-shaped Target-anchored shopping center. The residential buildings will feature a series of courtyards, pool decks and lushly landscaped sidewalks. Units will range from one- to three-bedroom apartments measuring between 500 and 1,250 square feet in size. Community amenities will include multiple pools, poolside cabanas, barbecue grill areas, a children’s playground, a dog park, resident lounges, game rooms, and more.

“Our mission at Terra is to improve communities through developments that fill a void in the market, and that’s exactly what we plan to do at CentroCity,” says David Martin, CEO of Terra. “Our goal is to enhance this underutilized asset and make it a more positive contributor to the community through low-impact infill development that will enhance the property while bringing much needed market-rate housing to the neighborhood.”

The property’s central location – bounded by Northwest 37th Avenue on the east, Northwest 7th Street on the south, Northwest 39th Avenue on the west and Northwest 11th Street on the north – is near some of Miami’s largest employment centers, including Miami International Airport, the Coral Gables Business District and Blue Lagoon office complex.

Tricera Capital Announces Joseph's Classic Market As Anchor Tenant of Shops at The Press

Tricera Capital, the Miami-based real estate investment firm, has finalized a long-term lease with Joseph’s Classic Market to anchor Shops at the Press, the retail component of the firm’s pioneering mixed-use project - The Press - in West Palm Beach. The redevelopment of the Palm Beach Post campus is an example of creative adaptive re-use and expected to reinvigorate the city’s Dixie Highway corridor. Amy Acierno of Florida Communities Realty, LLC represented the grocer in the Shops at the Press lease.

Joseph’s, an upscale family-owned Italian specialty market founded in 2005 by New York native and longtime Palm Beach County resident Joseph Acierno, is leasing more than 15,000 square feet at Shops at the Press. It will serve the rapidly growing downtown West Palm Beach residential population and become a vital amenity for the professionals based in the adjacent Workspaces at the Press, the 140,000-square-foot office component of Tricera’s project. Joseph’s was established to bring anyone who loves food an exceptional shopping experience.

Shops at the Press is Joseph’s first West Palm Beach location. Joseph’s has several additional locations in Palm Beach County, including a recently opened market at Simon Property Group’s Town Center at Boca Raton.

“We are thrilled to welcome Joseph’s Classic Market to Shops at the Press,” Tricera Co-Founder and Managing Principal Ben Mandell said. “Our office tenants next door will love having easy access to healthy, fresh gourmet grab-and-go meals. Joseph’s also fills a major void for a high-quality upscale specialty grocer that directly caters to the affluent surrounding community.”

Known for its fresh ingredients and unparalleled customer service, Joseph’s will offer superior meats and seafood, fresh produce, a hot bar and cold bar, scratch-made bakery, New York pizzeria, chef-prepared entrees and side dishes, gourmet catering and an Italian deli at the Shops at the Press location.

“Our family cannot wait to bring our gourmet market and chef prepared meals to meet the daily needs of West Palm Beach residents and professionals,” Owner Joseph Acierno said. “We are a fourth generation, locally owned and operated business that serves a delicious alternative to dining out and provides an experience comparable to traditional restaurants at affordable prices.”

Tricera expects to deliver the Joseph’s space in mid-2022. Meanwhile, the firm is nearing completion of the Starbucks outparcel on the project site at the hard corner of Belvedere Road and South Dixie Highway. The Starbucks is scheduled to open to the public in June 2021.

With The Press, Mandell and fellow Tricera Co-Founder and Managing Principal Scott Sherman are bringing much-needed retail, offices, entertainment and public art to West Palm Beach while preserving an important piece of the city’s history. Nearly all existing structures are to remain, including the Post’s office building and printing press. The project name is a nod to the Post’s legacy at the site.

For Workspaces at the Press, Tricera has recently completed an extensive renovation of the existing four-story office building. The Post has signed a new long-term lease and are now occupying 35,000 square feet on the second floor. Cameron Tallon, senior vice president for JLL’s agency leasing team, is handling office leasing on behalf of Tricera.