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.
Moishe Mana has purchased a 7,610 square foot building located at 108 South Miami Avenue for $2.3 million, according to The Real Deal.
Mana purchased the 2 story building next to his current purchase for $3.5 million in August 2018.
Over $350 million has been spent by Mana to acquire Downtown Miami properties over the past 4 years.
Construction on Brickell Flatiron is getting closer to completion since one of the cranes was removed last month.
Construction is expected to be completed Summer 2019.
Previous construction photos of Brickell Flatiron can be viewed here.
Zaha Hadid’s One Thousand Museum in Downtown Miami is quickly nearing completion since we last looked at the tower in November 2018 when both cranes were removed from the site.
Construction is expected to be completed in the next couple of months.
Previous construction photos of One Thousand Museum can be viewed here.
After beginning construction in January, two cranes at Miami Plaza have been installed and construction is starting to go vertical.
The 35 story rental tower will have 425 units and rise 370 feet.
Miami Plaza is being developed by Melo Group who also have the nearby and nearly completed two tower Art Plaza.
TBT (April 23, 2015) - Ocean Drive 39 years ago was very quiet compared to Ocean Drive in 2015. A CVS has now opened at 728 Ocean Drive and where Scarface was filmed.
The photo on the top left is what Ocean Drive looked liked in 1980. South Beach was a quiet area were many retirees lived including the buildings in the photos. The Art Deco buildings were falling into disrepair and the public was calling on the city to demolish them. Fast forward 35 years later and Ocean Drive is one of the most popular tourist destinations on the planet. The Art Deco buildings were saved and Ocean Drive is now lined with restaurants and palm trees.