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CLIENT NEWS: RCLCO takes big hit offloading Miami Design District buildings

May 16, 2024

In a perplexing move, RCLCO Fund Advisors offloaded two retail buildings in Miami’s Design District, one of the nation’s top retail real estate submarkets, at a steep $17.9 million discount. In one deal, Bethesda, Maryland-based RCLCO sold a two-story, 23,645-square-foot building at 3800 Northeast Miami Court to an affiliate of Miami Beach-based Comras Company, records show. Comras is led by CEO Michael Comras. In the other deal, RCLCO sold a single-story, 9,906-square-foot building at 3946 North Miami Avenue to Kohler[...]

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Developer proposes 308 apartments in Miami-Dade

April 11, 2017

A company led by Delray Beach developer Anthony V. Pugliese III wants to build an apartment complex just east of U.S. 1 in Palmetto Bay. The city will hold a zoning hearing on April 17 to consider the application for Park View on the 3.14-acre site at 9420, 9450 and 9500 S.W. 174th Street. The property currently has two single-family homes and a daycare facility separately owned by Jorge L. Morales, Pedro and Linette Gonzalez, and Raggedy Ann and Andy’s Pre School. The application[...]

Historic Buena Vista Post Office building in Miami’s Design District sells for $8.1M

April 6, 2017

4000 Northeast Second Avenue and Lyle Chariff The historic Buena Vista Post Office building in Miami’s Design District just sold for $8.125 million, marking a near-record price per square foot in the redeveloping neighborhood, The Real Deal has learned. The 2,287-square foot building at 4000 Northeast Second Avenue, which was the former site of the Billionaire clothing store, sold for $3,553 per square foot to a New York-based investment group that represents foreign investors, Chariff Realty Group President Lyle Chariff told TRD. The buyers are part[...]

Firm Represented Owner on Entitlements

March 22, 2017

New tenants and expansion in Doral office building could create 200 jobs Five companies have opened new locations and another firm has expanded in the One Park Square office building in Doral. This recent leasing activity in the building, at 3470 N.W. 82nd Ave., should create about 200 jobs based on the floor plates of the companies, Blanca Commercial Real Estate CEO Tere Blanca said. She teamed with her firm’s Danet Linares and Andres Del Corra to broker the leases on behalf of landlord New Boston Fund.[...]

Coming to Miami Beach: Trader Joe’s

February 7, 2017

Trader Joe’s Coming to South Beach According to The Real Deal, the announcement was made today at a Miami Beach Design Review Board meeting by attorney Mickey Marrero of Bercow Radell Fernandez & Larkin. The grocer, which specializes in non-GMO goods and affordable products, will be part of a new project on the corner of 17 St. and West Ave. known as 17 West. A spokesperson for Trader Joe’s confirmed the store will open the second half of 2018 and will occupy approximately 11,500[...]

Firm Works With Design Institute

January 26, 2017

Marangoni fashion school inks $13.5M lease at Design District building Lease signed in the $60 psf, triple net range for seven-story, 22,000 sf building A Milan-based fashion school with locations in Florence, Paris, London and Shanghai will soon open its first school in the United States in Miami’s Design District, The Real Deal has learned. Istituto Marangoni signed a $13.5 million, 10-year lease for the Design District’s tallest building at 3701 Northeast Second Avenue. Developer Alex Karakhanian of LNDMRK Development completed the building in December, and[...]