Florida Real Estate News & Notes
– Manhasset, N.Y.-based Mida Commons, LLC, has purchased the Shoppes of Margate, a 53,000-square-foot shopping center at 300-366 S. State Road 7, from Spiegel & Spiegel PA for $7.2 million. The Fort Lauderdale office of Marcus & Millichap Real Estate Investment Brokerage Company brokered the deal.
– Miami-based Key International, Inc., has obtained $130 million in mortgage financing for construction of The Ivy, a 504-unit condominium project at Southwest Third Street and South Miami Avenue in Miami. Chicago-based Corus Bank provided the financing.
– In Boca Raton real estate news, the town’s Woolbright Development, Inc., has announced its upcoming plans to build The Collection at Vanderbilt, a 253,000-square-foot shopping center. Construction is scheduled to begin in mid-January, and marks the company’s entrance into the Naples real estate market.
– Davie-based Weitzer/Kislak Sawgrass LLLP has opened an onsite sales office for Tao, a 396-unit condominium project, at 2681 N. Flamingo Road in Sunrise.
– Miami-based Continental Real Estate Company has been hired by 10800 Biscayne LLC to manage and lease Bayshore Executive Plaza, a masive 97,400-square-foot office building at 10800 Biscayne Blvd. in Miami. Continuing the state’s widesprad condo conversion trend, owners plan to convert a portion of the building to residential condominiums.
– Boca Raton-based contracting firm Kaufman Lynn, Inc., has completed Contractors Business Park, a $16.8 million office/warehouse project at 2701 Vista Parkway in West Palm Beach. The 320,000-square-foot project is owned by CD74 Contractors Business Park Ltd., and marks yet another sign that Palm Beach real estate continues to sizzle.
