Done Deals: Sep 4, 2022

Sunday, September 4, 2022

JLL arranges sale of prime .53-acre residential development site west of Brickell in Miami, FL

Danielle Fernandez

MIAMI, FL – JLL Capital Markets has closed the sale of CoralGrove Brickell, a 0.53-acre, residential development site planned for 85 units, located between Brickell and Coral Gables in Miami, Florida. The price was not disclosed.

JLL marketed the property on behalf of the seller, an investment group from South America. Empira Group, a Swiss real estate firm acquired the asset.

Designed by award-winning Revuelta Architecture International, CoralGrove Brickell is planned to include 85 units, consisting of one-, two-, and three-bedroom apartments.

Simon Banke

Amenities consist of a fitness center that incorporates spaces for yoga and spinning, a rooftop resort-style pool overlooking the city, a gourmet kitchen and a game room.

The ground floor will have about 900 square feet of retail space.

CoralGrove Brickell, which is a five-minute walk from the Viscaya Metrorail Station, will promote walkable urban living.

Future residents will be able to trade their cars for the Metrorail to travel around the tri-county area, committing the project to the highest ESG standards. The project will be LEED certified.

Max La Cava

The JLL Capital Markets Investment Advisory team representing the seller was led by Directors Max La Cava and Simon Banke, with support from Analyst Danielle Fernandez.

“CoralGrove Brickell is one of the most exciting boutique residential projects in Miami,” said La Cava.

“It is perfectly positioned to capitalize on the influx of high-paying tech and finance jobs moving from New York City, Chicago, and San Francisco.

"Empira’s entrance to the Miami market is a big deal as they look to expand in South Florida and across the US.”

South Florida’s booming economy and thriving job market have transformed the area into an economic powerhouse.

Miami has attracted high-profile tech, private equity and finance firms from major high-paying employment hubs.

Blackstone, Citadel, Spotify, Thoma Bravo and Marsh Insurance, among many others, have opened or significantly expanded their offices in Miami in recent months.

CONTACT:

Eric Kalis

Vice President,

BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

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www.nativerealty.com.

Kaley Tuning

WEST PALM BEACH, FL -– Native Realty, the industry disrupting real estate brokerage, is increasingly demonstrating its placemaking prowess in Palm Beach County. For instance, Native CEO Jaime Sturgis, Sales Director Kaley Tuning and Associate Spencer Scalzitti just finalized a lease with popular wine bar The Blind Monk on behalf of the brand-new AKA Hotel in downtown West Palm Beach.

The Blind Monk bar is set to relocate
from its current location to the
695 South Olive Avenue hotel in
Downtown West Palm Beach, FL

It leased a ground-floor space with 2,209 interior square feet and a 1,197-square-foot outdoor patio. The Native trio is in active negotiations with prospective tenants for additional retail and restaurant spaces at the hotel.

AKA Hotel is scheduled to open in November 2022.

Jaime Sturgis

Founded by former U.S. Marine Capt. Ben Lubin in 2010, The Blind Monk is a big hit with downtown West Palm Beach residents, professionals and visitors.

Lubin is a graduate of the French Culinary Institute and a Certified Sommelier. The Blind Monk serves wine by the glass or bottle, craft beer, tapas, build-your-own cheese and charcuterie boards – and more.

Ben Lubin

“This lease is a great example of how Native activates the retail and restaurant components of hotel and multifamily developments,” Sturgis said.

“The Blind Monk has a huge following and should enjoy tremendous success at the AKA Hotel. Our team is actively securing new leasing and investment sales assignments in West Palm Beach and throughout Palm Beach County to place the other top-tier tenants we are representing.”

Spencer Scalzitti

The 8-story AKA Hotel consists of 215 hotel rooms, with on-site parking for the retail and restaurant spaces. It benefits from proximity to Rosemary Square, City Place and the Brightline high-speed rail station connecting Palm Beach County with Broward and Miami-Dade counties.

Native recently relocated its corporate headquarters to a new Fort Lauderdale office that is double the size of its previous headquarters. The 4,000-square-foot office is located at 1926 E. Sunrise Blvd. in the city’s Victoria Park neighborhood.