Cocowalk In Coconut Grove Sold For $87.5M

May 05, 2015 in Coconut Grove, Miami, Real Estate

The outdoor shopping mall in Coconut Grove called Cocowalk has sold for $87.5 million, according to the Miami Herald.

Federal Realty Investment Trust purchased the mall from PMAT Real Estate Investments who bought it for $87 million in 2006.

The mall opened in 1990 across from the Mayfair hotel and was a popular attraction when first opened. In recent years, tenants have left leaving as much as 20% of the space vacant.

However, Coconut Grove is seeing a resurgence in the area with the addition of Grove at Grand Bay, Regatta Park, and tenants such as the Clyde Butcher Gallery Coconut Grove, Harry's Pizzeria and Panther Coffee in the Engle Building.

2.5 Acre Site For Sale In Downtown Miami

April 15, 2015 in Downtown Miami, Golden Dusk Photography, Miami, Flagler Street, Real Estate

Property on Flagler Street in Downtown Miami is up for sale, according to The Next Miami. The 2.5 acre site has conceptual plans called "Sky Plaza" that could be a 2.4 million square foot project.

Bids are due April 22 for the site.

Proposed Site Of Walgreens Sells For $15.5M In Brickell

April 08, 2015 in Brickell, Golden Dusk Photography, Miami, Demandt Architecture, Real Estate

The site where a proposed Walgreens was going to be located at 296 SW 7th St has sold to Marathon Lodging, according to The Real Deal.

The Walgreens was designed by Frank Demandt and Robert Brown of Demandt Architecture was also designed the beautiful Walgreens at 1400 Collins Avenue.

Previously on the empty lot was an apartment complex that sat abandoned for a few months before being torn down and The Car Wash Concept that sat abandoned for 8 years before finally being demolished in the Summer of 2014.

"Scarface" Building On Ocean Drive Sells For $15M

March 19, 2015 in Miami Beach, Ocean Drive, Real Estate

The building that was used in the infamous chainsaw scene in the movie Scarface has sold for $15 million, according to the Real Deal.

The property at 728 Ocean Drive and 6,500 square foot building was sold to New York based developers, Infinity Group.

A Johnny Rockets restaurant operates from the ground level of the building.

The building last sold for $8 million in 2011.

Lots In South Of Fifth District Sell For $8.25M

March 13, 2015 in Miami Beach, Real Estate, South Beach, SoFi

Two empty lots in South Beach have been bought by Adam Hyatt for $8.25 million, according to the Miami Herald.

The buyer plans on building a luxury boutique hotel on the lots, which are only a few blocks from Joe's Stone Crab restaurant.

GW Brickell Purchase Land In Brickell Area For $26M

March 02, 2015 in Brickell, Miami, Real Estate

Land Purchased in Brickell For $26 Million

Land was recently purchased in Brickell at 88 SW 10th St, which includes a total of 22,770 square feet for 26 million, according to SFBJ.

The land was bought by GW Brickell, which is headed by Brazilian investor Jose Luis Galveas Loureiro. The lot was purchased for $9 million in 2013 by Corday LLC and there were plans to make it a Canopy By Hilton.

The site it located next to NINE at Mary Brickell Village and East of the Metrorail tracks.