The Vizzda Weekly - South Florida - Week Ending June 24th, 2016

The Vizzda Weekly is Vizzda's complimentary recap of the industry's commercial real estate activity for the previous week in South Florida. The Vizzda Weekly tells you the total number of sales and projects tracked by Vizzda that week, as well as detailed information on a selected deal or project from each major asset class. 

Keep in mind, this is just the tip of the iceberg. Vizzda provides in-depth information for all commercial real estate properties in South Florida, including Office, Industrial, Retail, Multifamily, Commercial Land, Residential Lots and much more.

For The Week Ending June 24th, 2016

Vizzda reported 66 sales totaling $271,562,900 in transaction value in the South Florida Market. 

Vizzda also cataloged 8 new Planning and Zoning reports. 

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What Happened in LAND Last Week? Vizzda reported 9 land sales in the South Florida Market.
	Featured Land Sale: Commercial Land Proposed For Mixed-Use Development in Miami Gardens Sells for $850,000  On 6/21/2016, an entity tracing to Hunt Real Estate  acquired property from an entity tracing to IMC Equity Group for $850,000, with $1,966,000 in new debt with USAmeriBank. The property is ±2.33 acres of commercial land zoned NC.    Vizzda Subscribers- click here to access the full report.
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What Happened in OFFICE Last Week? Vizzda reported 21 office sales in the South Florida Market.
	Featured Office Sale: Three-Story Office with Ground Floor Parking Sells for $1.424M in Fort Lauderdale    On 6/17/2016, an entity tracing to Juan and Manuel Pardo acquired property from Lucio Velo for $1,425,000. The property is one 3-story multi-tenant building on ±0.30 acres zoned B-2.   Vizzda Subscribers - click here to access the full report.
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What Happened in MULTIFAMILY Last Week? Vizzda reported 9 multifamily sales in the South Florida Market. Vizzda also cataloged 4 multifamily Planning and Zoning Event
	Featured Multifamily Sale: 11 Multi-Family Units in Palm Beach Near Golf Course Sell for $5.6M  An entity tracing to Bernard Pierre-Louis purchased this property from JJ & Janet Cafaro on 6/22/2016 for $5.6M. The property is ±7,680 square feet in one 2-story building zoned RC.     Vizzda Subscribers - please click here to access the full report.
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What Happened in RETAIL Last Week? Vizzda reported 15 retail sales in the South Florida Market.
	Featured Retail Sale:  Palm Beach Waterfront Restaurant Sold for $4,466,667.00          Stonebriar Commercial Finance purchased this property from a Greg Neilsen on 6/21/16 for $4,466,667. The property is a 19,135 square foot restaurant in two single story buildings zoned C-2. Vizzda Subscribers - please click here to access the full report.
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What Happened in INDUSTRIAL Last Week? Vizzda reported 12 industrial sales in the South Florida Market.  Vizzda also cataloged 1 Industrial Planning and Zoning event
	Featured Industrial Sale: ±60K SF Warehouse in Medley Sold for $3.5M         Axel Preuss-Kuhne purchased this property from Gustavo Lopez on 6/15/2016 for $3.5M. The property is a ±60,000 SF warehouse in one single-story building zoned M-1.  Vizzda Subscribers - click here to access the full report.
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DISCLAIMER: The information contained herein is from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the responsibility of the person viewing this information to independently verify it.

Atlantic Crossing Sells to Edwards Companies for $38.5 Million

Site Plan via developer webiste

Ohio-based Edwards Companies now owns the 8.6 acres in Delray Beach proposed for the long-disputed Atlantic Crossing mixed-use project. CDS International Holdings sold the land yesterday for $38.5 million, and the sale was funded by seller financing and a loan with First Financial Bank.

The proposed mixed-use project will total 343 residential units, 83,000 square feet of Class A office space, and 76,000 square feet of shops & restaurants. It is located at the direct northeast corner of 7th Avenue and Atlantic Avenue, directly west of Veterans Park and the Gulf Stream.

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ZOM USA Purchases Met Square Development, Secures $101 Million Loan

Rendering of completed Met Square

On Monday Orlando-based ZOM USA purchased an area of downtown Miami land on which the mixed-use project Met Square is being developed for $17.645 million. A new loan of over $101 million with UBS Realty was recorded with the sale.

Met Square is the final phase of Metropolitan Miami Project developed by MDM Group USA. It is to include a 43-story apartment tower of 391 units, a 80,000 square foot 17-screen movie theater, and retail / restaurant space. A museum to feature Tequesta Indian ruins found during development will also be included.

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Royal Senior Care Buys Senior Facility Component of Aventura Park Square

Rendering of completed Aventura Park Square via development website¹

Royal Senior Care Management purchased the senior facility component of the mixed-use project Aventura Park Square on Wednesday for $7 million. Integra Investments sold the 0.44 acre section as it was being developed.

When completed, this senior facility will total 144 assisted living units. It is part of the Aventura Park Square mixed-use project, which is to also include residential, office, and retail components. An additional section of the development was purchased by Norwich Partners in February for $8 million.

1. http://www.aventuraparksquare.com/

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