• Real Estate Investing,  Travel & Lifestyle

    Saks makes bid for Barneys, Eighty Seven Park will offer a certified botanist: Daily digest

    Every day, The Real Deal rounds up South Florida’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to tips@therealdeal.com This page was last updated at 5:30 p.m.   Saks has teamed up with Authentic Brands to bid roughly $270 million for Barneys. Saks, which Hudson’s Bay Company owns, would launch Barneys departments in 41 of its stores, take over the website of the bankrupt retailer and possibly take over some Barneys locations. Barneys had filed for bankruptcy over the summer, and at a court hearing on Friday, a lawyer for the high-end…

  • Real Estate Investing,  Travel & Lifestyle

    Bridge Development nabs $60M loan for Davie industrial project

    Rendering of Bridge Point 595 and Kevin Carroll Bridge Development Partners scored a construction loan from Wells Fargo to build a new industrial complex in Davie. Property records show Bridge 595 LLC closed on a $60.28 million loan for the properties at 2650 and 2700 Bridge Way. There, the Chicago-based firm is planning Bridge Point 595, a development with three industrial buildings totaling over 677,000 square feet. The Bridge Development affiliate paid $36.9 million for the 34.1-acre site in July. Forman Industrial Land sold the property. Buildings 1 and 2 will each total 290,295 square feet, while Building 3 will total 96,724 square feet. The project is scheduled for completion…

  • Real Estate Investing,  Travel & Lifestyle

    Commissioners seek new plans for Melreese, Virgin Trains Aventura stop would have low ridership: Daily digest

    Every day, The Real Deal rounds up South Florida’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to tips@therealdeal.com This page was last updated at 5:30 p.m.   Ross Dress for Less Ross Dress for Less signs lease at historic former Burdines building in downtown Miami. The retailer plans to lease 34,192 square feet at 22 East Flagler Street. The vacant building was most recently occupied by Macy’s. Macy’s closed the store in early 2018 as part of a wave of closures as it looked to shed its assets and reduce costs.…

  • Real Estate Investing,  Travel & Lifestyle

    “Dozens of buildings” in LA receive eviction notices ahead of California’s new rent law

    Residential Los Angeles (Credit: iStock) Landlords across Los Angeles have sent out scores of eviction notices in recent weeks, trying to get ahead of the “just cause” provision of California’s new rent control bill, which kicks in Jan. 1. “We’re dealing with dozens of buildings calling our hotline,” said Trinidad Ruiz, an organizer with the Los Angeles Tenant Union. And Katie McKeon, an attorney with the pro bono law firm Public Counsel, said it was “a massive uptick in no-fault evictions” over the past two weeks. In response, two L.A. City Councilmembers on Friday introduced an emergency motion seeking a moratorium on evictions. The measure could also seek to invalidate…

  • Real Estate Investing,  Travel & Lifestyle

    Quiksilver signs a lease in Miami Beach, Delray Beach’s Atlantic Crossing announces first retail and office tenants: Daily digest

    Every day, The Real Deal rounds up South Florida’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to tips@therealdeal.com This page was last updated at 5:45 p.m.   Quiksilver signs a lease in Miami Beach. The athletic wear company signed a 2,800-square-foot lease for a new flagship store at 673 Collins Avenue in Miami Beach.   Delray Beach’s Atlantic Crossing project announces first retail and office leases. The project is expected to go vertical by year-end, according to the developer, The Edwards Companies. The lead tenant will be Merrill Lynch, which will…

  • Real Estate Investing,  Travel & Lifestyle

    Work out like A-Rod? Athlete inks Midtown Miami lease for UFC Gym

    Alex Rodriguez (Credit: Getty Images and iStock) Retired baseball player Alex Rodriguez scored a home in Miami for his next UFC Gym. Rodriguez’s A-Rod Corp. signed a lease for 24,000 square feet at 3635 Northeast First Avenue in Midtown Miami, according to a press release. The fitness facility is expected to open in the spring of next year. The deal adds to other fitness concepts in Midtown and nearby. Among them, Barry’s Bootcamp has a location in Midtown and Orange Theory operates in the Design District. Rodriguez, who has a growing real estate empire, secured development rights for UFC Gyms in Miami-Dade County in 2017. The Midtown Miami location will…

  • Real Estate Investing,  Travel & Lifestyle

    Rise in climate-related home buyouts could worsen housing inequality, Eurostars parent buys historic downtown Miami property: Daily digest

    Every day, The Real Deal rounds up South Florida’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to tips@therealdeal.com This page was last updated at 5:00 p.m.   The federal government will likely buy more homes as climate change intensifies. That move is expected to exacerbate housing inequality because wealthier counties can afford to arrange more government buyouts of homes in those affected areas, according to a study the Miami Herald reported on. “There is a real potential for our responses in a changing climate to make the fat cats fatter, so…

  • Real Estate Investing,  Travel & Lifestyle

    Developer Valerio Morabito enters Wynwood market with $9M acquisition

    Tony Cho, Andres Nava and Valerio Morabito with 2143 Northwest First Avenue Developer Valerio Morabito is planning his first project in Wynwood. His Morabito Properties paid $9.3 million for the building at 2143 Northwest First Avenue, according to Tony Cho, president and CEO of Metro 1. Cho and Andres Nava, his vice president, brokered the sale. The two-story, 26,388-square-foot building sold for over $350 per square foot. Morabito told The Real Deal he signed a long-term lease with a co-working tenant that will take the entire building. He declined to identify the tenant. Morabito expects to begin demolition early next year and secure a full permit for the adaptive re-use…

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    California passes landmark rent control law

    Assemblyman David Chiu and Gov. Gavin Newsom (Credit: Wikipedia and iStock) California has become the third state in the nation to pass rent control legislation. On Tuesday afternoon, Gov. Gavin Newsom signed into law the sweeping measure, which aims to strike at the heart of California’s housing crisis. Assembly Bill 1482 sets rent caps and implements “just cause” eviction rules meant to combat rent gouging and landlords who force tenants to vacate in order to raise the rent on a unit. The governor signed the measure — dubbed the “Tenant Protection Act of 2019” — into law at a ceremony in Oakland. California now joins New York state, which passed sweeping…

  • Real Estate Investing,  Travel & Lifestyle

    Miami-Dade judge strikes down Miami Beach short-term rental ban, Brookfield picks up more industrial properties, Daily digest

    Every day, The Real Deal rounds up South Florida’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to tips@therealdeal.com This page was last updated at 5:30 p.m.   Marcus Samuelsson and exterior shot of Red Rooster construction (Credit: Getty Images) Marcus Samuelsson’s Red Rooster Overtown restaurant is almost ready. James Beard award-winning chef Marcus Samuelsson and his business partner Derek Fleming gave a sneak peak of his nearly completed Red Rooster Overtown restaurant. [TRD]   Brookfield picks up more industrial properties near MIA for $83M. Brookfield Property Group bought six industrial condos…