In other deals, Time Equities fully leased the retail at its CasaMara project in West Palm Beach
Sports & Social I Miami Worldcenter | Miami
Dining and entertainment venue Sports & Social will open at the $4 billion mixed-use Miami Worldcenter project.
Sports & Social will open a 20,000-square-foot location in the glass-encased “Jewel Box” retail building and include a third-story rooftop and restaurant overlooking the World Square park and plaza at the downtown Miami development, according to a Miami Worldcenter press release.
The venue, known for its sports watching activities and games, will be walking distance from the Miami Heat’s home stadium FTX Arena. The Miami location will include a 53-foot LED display showing multiple sports events at once as its centerpiece. It also will host live music and offer games such as foosball, pop-a-shot and shuffleboard, the release says.
Hospitality company Live! Hospitality & Entertainment, a division of the family founded and owned real estate development firm The Cordish Companies, created the Sports & Social concept. The venue has nine other locations across the U.S., including near Atlanta’s Truist Park baseball stadium, near St. Louis’ Busch Stadium, at the Texas Live! Center in the Arlington Entertainment District, and Live! Casino & Hotel Philadelphia in the South Philadelphia Sports Complex.
Sports & Social also plans to open a location at Dolphin Mall in Sweetwater this winter.
The 27-acre Miami Worldcenter project’s master developer is Miami Worldcenter Associates, led by Art Falcone and Nitin Motwani, in partnership with CIM Group.
CIM and Miami Beach-based The Comras Company are leading retail leasing at the development.
Roughly 100,000 square feet of the retail space at Miami Worldcenter has been leased, including to chef Michael Beltran’s Brasserie Laurel and El Vecino, and Chicago’s Maple & Ash and etta restaurants. Beauty retailer Sephora, luxury electric car company Lucid Motors and entertainment complex Bowlero leased retail space last fall.
The Paramount condominium tower, the Caoba and Bezel Miami apartment towers, and 170,000 square feet of retail space are already completed at Miami Worldcenter.
Projects under construction include Lalezarian Properties’s 550-unit apartment building Miami World Tower, Royal Palm Companies’ Legacy Hotel & Residences with condos and a hotel, 50,000 square feet of medical offices, and a second Caoba apartment tower.
Also planned are Related Group and Merrimac Ventures’s The Crosby condo, Miki Naftali’s pair of supertall residential towers, and Steven Witkoff and Monroe Capital’s three-story complex.
Florida Department of Revenue, Mercury Air Cargo, more I Doral Center I Doral
Banyan Street Capital scored seven new tenants at its Doral Center office complex for a combined 50,000 square feet.
Mercury Air Cargo already moved into 5,400 square feet, and Sunlight Foods moved into 1,000 square feet, according to a news release from Banyan’s broker. (Worldwide Flight Services acquired Mercury Air Cargo late last year, according to media reports.)
Also, the Florida Department of Revenue leased 28,600 square feet; Waypoint Contracting and Silver Bullet Technologies each leased almost 4,000 square feet; Just Insurance Brokers leased 3,500 square feet; and Ware Malcomb leased 3,000 square feet, the release says. They are moving in at various times starting next month and through next summer.
Two existing tenants renewed their leases: manufacturing company Arthrex for 2,000 square feet and Florida Property & Casualty Insurance for 1,000 square feet. Atlas Real Estate Group expanded its Doral Center footprint to 1,700 square feet, according to the release.
Gordon Messinger of CBRE represented the landlord.
Miami-based Banyan Street, in partnership with Independencia Asset Management, bought the pair of office buildings on the southwest intersection of Northwest 36th Street and Northwest 87th Avenue in Doral for $43 million in 2020.
Doral Center is at 8750 Northwest 36th Street and 3750 Northwest 87th Avenue. The deal included some surrounding acreage.
After the purchase, the owners embarked on $14 million of capital improvements to the 290,000-square-foot Doral Center, according to the release. In addition, Banyan is building out 25,000 square feet of move-in ready spec suites at one of the buildings.
Tropical Smoothie Café, Mecox, more I The Plaza at CasaMara I West Palm Beach
Developer Time Equities has fully leased The Plaza retail portion at its CasaMara mixed-use project in West Palm Beach.
In total, eight tenants will occupy a combined 15,000 square feet of space at CasaMara at 3111 South Dixie Highway.
They are Tropical Smoothie Café, restaurant Guaco Go, West Palm Wine, antique and vintage goods store Mecox, kitchen design company Bakes & Kropp Fine Cabinetry, salon DryBar and fitness center StretchLab, according to Time Equities’ news release. Common Grounds Brew & Roastery is the only tenant that has opened so far.
Alfredo Sanchez of Landmark Commercial Realty Advisors represented the landlord.
The 10-acre CasaMara consists of seven buildings with 300 apartments and a 16,000-square-foot clubhouse. The multifamily portion is fully leased.
Led by CEO Francis Greenburger, New York-based Time Equities is an investment and property management firm, according to its website. Its portfolio spans 39 million square feet of residential, industrial, office and retail real estate.
Diagnostic Center for Women I Galloway Medical Center I Miami-Dade County
The Diagnostic Center for Women renewed and expanded its medical offices at the Galloway Medical Park 1 property near South Miami.
The Diagnostic Center added 13,000 square feet to now lease 29,000 square feet at 7500 Southwest 87th Avenue, according to a news release from the tenant’s broker.
Zachary Talbot and Robert Orban of Cresa represented the Diagnostic Center. Andres del Corral of Blanca Commercial Real Estate represented the landlord.
The Diagnostic Center, which is part of Femwell Group Health and affiliated with TopLine MD Health Alliance, provides mammography, ultrasound and biopsy services, according to the release. It also has locations in North Miami, Boca Raton, and Pembroke Pines.
Medical office space has remained immune to the work-from-home trend that has affected much of the rest of the office market.
In August, Baptist Health paid $17.9 million for an 18-acre development site entitled for 215,000 square feet of medical offices, 70,000 square feet of education and 125 hotel rooms in Miami-Dade County’s West Kendall neighborhood.
That property is part of the 70-acre Kendall Town Center mixed-use development between Southwest 88th and 91st streets and Southwest 162nd and 158th avenues. The hospital has said it plans to use its property to complement its existing services at its West Kendall Baptist Hospital, which is adjacent to the development site.
The Blind Monk I AKA Hotel I West Palm Beach
Downtown West Palm Beach staple The Blind Monk wine bar and restaurant will move, although it isn’t going far.
Lidia Dinkova, TheRealDeal
