Amazon decided against putting its second headquarters in South Florida, but the online retailer opened another distribution center to ensure speedy deliveries in the tri-county area.

Amazon has opened a distribution center in 100,000 square feet at the Sawgrass International Corporate Park in Sunrise, according to Lou Sandors, the city’s economic development director. The space formerly was occupied by an online retailer called Fanatics.

Amazon spokeswoman Amanda Ip told the Sun-Sentinel that the company has 75 facilities nationwide like the new one in Sunrise.

Last year, the online retailer leased 50,000 square feet at 101 Northeast 23rd Street in the Wynwood area of Miami to support its Prime Now delivery operations.

In 2016, Amazon leased an 800,000-square-foot warehouse at Miami Opa-locka Executive Airport and a 117,235-square-foot space at the South Florida Logistics Center in Miami at 3200 Northwest 67th Avenue in Miami.

South Florida was one of 20 metropolitan areas on the short list to become the home of Amazon’s second headquarters, or HQ2, which will be established in New York City and Arlington, Virginia.


Source: The Real Deal

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At The Real Deal‘s fifth annual Miami Real Estate Showcase & Forum, Editor-in-Chief Stuart Elliott moderated a panel on how South Florida developers are financing and building amid the late stages of a market cycle.

Panelists included Jules Trump (The Trump Group), Moishe Mana (Mana Group), Michael Stern (JDS Development), Louis Birdman (Birdman Real Estate Development) and Kieran Bowers (Swire Properties).

Click here  to read more coverage of the event.

Click here to view an event video.


Source: The Real Deal

Boca Raton is trying to figure out what to do with what’s considered the last area of blight in downtown Boca Raton.

The modern redevelopment was approved by the Planning and Zoning Board, despite a strong pushback from the community worried about density.

The project is located at 171 West Camino Real. The plan would take the defunct shopping center and turn it into a mixed-use, shopping and residential area. It would include 350 apartments and two eight-story buildings.

The land’s owner says this is the only way to make the land viable as retail slides. Most of the public who attended a recently held meeting say this will add too much traffic to an area that’s already too busy.

“Clearly it’s the density of the project. When you add 350 residential units, the area can’t support it. The infrastructure isn’t there. We already have crowding on the roads, we already have crowding in our schools,” Tony Gautney, a Boca resident said in an interview.

There was some support for the project from the public.

“Being in the area, and raising a family, a few small kids, I feel like this project is exactly what the city of Boca needs, and our neighborhood needs. I think it could be the catalyst to revitalize our area which I feel like has been neglected for some time,” said Boca Raton resident Patrick Grogan.

The board will recommend the plan with one change: an additional left-hand turn lane instead of a right-hand turn lane into the project. That will hopefully mitigate some of the traffic concern.

This still needs approval from the Community Redevelopment Agency, who will likely take a look at this in January.


Source: WPTV5 News

West Palm Beach-based McCraney Property Co. sold three fully leased warehouses in central Palm Beach County for $25.8 million.

Cabot Properties of Boston paid $148 per square foot for the trio of warehouses on Vista Parkway west of Florida’s Turnpike, which have a combined total of 173,812 square feet.

McCraney Property built two of the warehouses at 2211 and 2213 Vista Parkway on a 7.2-acre site in 2015, and the company built a third warehouse at 6935-6965 Vista Parkway on a 7.9-acre site in 2008.

“The warehouses are proven, well-managed assets with exceptionally strong tenancy and revenue histories,” Christopher Thomson of brokerage firm Cushman & Wakefield said in a prepared statement.

Thomson was part of the Cushman & Wakefield team that brokered the $25.8 million transaction, which included Chris Metzger, Richard F. Etner Jr., Matthew G. McAllister, Mike Davis, Rick Brugge and Michael Lerner.


Source: The Real Deal