Miami-California deal is looking to create the only real-estate website you need
Miami's World Property Journal, which published real estate news online, is being purchased for $33 million by California-based real estate listing website GlobalListings.com. Keeping the current California-based staff, GlobalListings.com plans to move the joint company’s new headquarters to Miami and expand its staff to include more local employees by early 2019. More from the Miami Herald and Inman.
Brightline’s train stations are luring new development and other amenities into South Florida’s downtowns. New offices and hundreds of apartments will open this year near the stations in Miami and West Palm Beach, and Fort Lauderdale officials expect a similar project across 7 acres in their city, too. [Source: South Florida Sun-Sentinel]
From enlisting the help of the founder of Cirque Du Soleil in developing spaces that embrace AR and VR to working with local artisans, artists and business owners - Tony Cho, the founder of Metro 1 and developer of Wynwood and Magic City, is working hard to ensure that community-based real estate development means all of a community’s stakeholders win. [Source: Forbes]
South Florida’s multifamily sector posted strong results once again with increased sales and per-unit multifamily pricing, according to a report released recently by the Miami Association of Realtors Commercial and data firm Vizzda. There were 140 multifamily transactions in South Florida in the first quarter of this year, an 8.5% increase as compared to a year earlier. [Source: Globe St.]
By shoring up its relationship with landlords and real estate companies, Airbnb is creating a new class of advocates who, it hopes, will help pressure regulators to make peace with Airbnb. Although real estate developers and landlords have the potential to advance Airbnb’s cause with regulators, its not clear communities will embrace these partnerships wholeheartedly. [Source: Wired]
› Naples real estate inventory up [Coastal Breeze News]
“In 2017, May’s sales increased 23 percent over sales in May 2016,” said Phil Wood, President & CEO of John R. Wood Properties. “The fact that we are keeping the same pace this year and inventory is holding steady is good news as we move into summer.”
› Developer proposes replacing part of a Margate shopping center with apartments [The Real Deal]
A Miami-based developer proposed demolishing part of a shopping center in Margate to make way for a rental housing complex with 220 apartments. Alliance XVI LLC acquired the shopping center at 5203 Coconut Creek Parkway in Margate for $12.3 million in 2015
› Column: Rising interest rates, foreign investment impact South Florida commercial real estate market [Franklin Street]
More than halfway through 2018, the South Florida retail market is going through a combination of headwinds and tailwinds. So, for the rest of 2018, what retail sector trends should industry players keep an eye on?
› St. Johns County facing affordable housing shortage [Action News Jax]
St. Johns County continues to be one of the fastest growing in Florida, but that growth has led to a shortage of affordable housing. According to the Northeast Florida Association of Realtors, the county’s inventory of available homes is 4.5 months. A healthy market is considered between five and six months.