February 5, 2023

Miami-Dade Roundup

The big picture: Suffolk Construction's Miami Smart Lab makes projects run smoother

MIAMI BEACH

  • A New York-based company paid $30.8 million to purchase the 230-unit South Pointe Plaza Rehabilitation & Skilled Nursing facility in South Beach from Miami Beach-based Crescent Heights.

MIAMI-DADE

  • Florida International University and non-profit think tank New America will host the U.S. Department of Commerce’s National Initiative for Cybersecurity Conference and Expo for the next five years, starting this November.
  • Cincinnati-based Fifth Third Bancorp made an undisclosed equity investment in financial technology company DadeSystems, which will create an intelligent invoice-matching and payment system for the bank.
  • Lennar plans to build 85 estate homes on 33 acres in the southwest part of the county; it paid $4.5 million for the land.
  • The total number of overnight visitors to the county in 2017 was up 1% from 2016, to 15.9 million people; visitors spent a record $26 billion, up 2.1%.
  • Tampa-based ProspEquity purchased a majority stake in Tierra Nueva Fine Cocoa, a chocolate and coffee company that produces edible coffee products and a shelfstable coffee concentrate that can be used in both foods and drinks.
  • A new Bloomberg report says the richest ZIP code in the U.S. is Fisher Island, where average annual income in 2015 was $2.5 million. The island is accessible only by boat.
  • The U.S. Nuclear Regulatory Commission granted Florida Power & Light a license to build and operate two new nuclear reactors at its Turkey Point facility near Homestead; the utility hasn’t decided if it will build the reactors, which wouldn’t come online until at least 2031.

MIAMI GARDENS

  • Chicagobased Victory Park Capital invested $45 million in United Automobile Holding, parent of United Automobile Insurance.

 

See other stories from Florida Trend's July issue.

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