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Prologis made $300M in its 2015 deal with Facebook

Prologis  had about 300 million reasons to smile after its 2015 deal with Facebook. The tech giant bought a 21-building campus in Menlo Park from Prologis that year in a deal that made the industrial landlord about $300 million, according to Bloomberg. Prologis bought the site for $110 million about 10 years ago, and Facebook ended up doubling its first offer for the complex to roughly $400 million. The site’s warehouses are now being torn … [more]

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Starwood Capital sells Sunrise office portfolio to IP Capital Partners

A company tied to IP Capital Partners just picked up two office buildings in Sunrise’s Sawgrass International Corporate Park for $27.62 million, property records show. Starwood Capital Group affiliates SVT Sawgrass Building A and SVT Sawgrass Building B sold the 153,200-square-foot office portfolio at 13800 and 14050 Northwest 14th Street for about $180 per square foot. Sawgrass Commerce Center A and Sawgrass Commerce Center B sold for about $13.8 million each. The buildings were built … [more]

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Beaker & Gray owners to open BoomBox in former Bardot site in Midtown

The owners of Beaker & Gray have signed a lease to open a new bar and lounge called BoomBox at Bardot’s former site in Midtown Miami. BoomBox will open in a 3,264-square-foot space at 3452 North Miami Avenue late this summer, Marc Sirkin of Engel & Voelkers told The Real Deal. Sirkin and Asi Cymbal of Cymbal Realty represented the owner of the building, North Miami Avenue LLC, led by Cymbal Development’s Ziva Nitzan. Theresa … [more]

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Opendoor’s trade-up program opens up to all developers

Opendoor is expanding its home trade-up program, extending it to all developers. The house-flipping company expanded the program to all markets last summer and added homebuilders including Taylor Morrison and Meritage Homes, Inman reported Wednesday. Now the company is letting any builder in any Opendoor market participate. Opendoor formed a partnership with Lennar earlier this year for the program. In the process, the customer finds a home from a builder that they want to move … [more]

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Oil heiress pays $13.5M for waterfront estate in Manalapan

UPDATED May 23, 3:10 p.m.: After bouncing on and off the market for eight years, a sprawling ocean-to-lake estate called Paradisio Del Mar in Manalapan finally sold for $13.5 million, property records show. The 24,000-square-foot mansion at 1960 South Ocean Boulevard was reportedly listed in 2010 for about $35 million, so the sale price marks a 60 percent discount off the original asking price. Records show the buyer is Jean Christine Thompson. She’s the vice … [more]

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Back again: Sladja Stantic returns to One Sotheby’s after stint at Elliman

Sladja Stantic is returning to One Sotheby’s International Realty after less than two years at Douglas Elliman. Stantic just opened an office in Miami Beach’s Sunset Harbour neighborhood and is starting the Sladja Miami Homes team after leaving her former partner at Elliman, Dina Goldentayer. The former teammates will continue to co-list their existing listings at Elliman, Goldentayer said. Stantic joined Elliman in September 2016 to sell Terra’s Eighty Seven Park, a luxury condo building … [more]

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Partying and excess remain fixtures of ICSC, even as some companies opt for modest events

Looking out from a booth in the Wynn nightclub Intrigue, it was difficult to ignore a man on stilts dressed as a tree bounding between the aisles. From up there, the view certainly spelled excess: women dancing on podiums and a crowd of real estate folk bumping and bopping to a top 40 playlist. The party at the nightclub Sunday night set the tone of what was to come on the inevitable party circuit that … [more]

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These are the top leasing brokerages in the country’s four major markets

Property owners seem to be willing to get a bit unconventional these days to keep rent payments rolling in amid the ongoing waves of store closures. Indoor amusement parks, doctors’ offices, movie theaters, gyms and even discount stores  — once considered undesirably downmarket — are plugging holes in vacancy-riddled shopping centers and storefronts as rents decline, leases shorten and concessions spike, brokers and owners say. The Real Deal’s ranking of the top leasing deals and … [more]

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Opposition mounts against Brightline’s pursuit of more than $1B in bonds

Phase two of Brightline’s Miami-to-Orlando train service is off to a bumpy start. Members of Florida’s congressional delegation are discussing whether project is eligible for $1.15 billion in tax-exempt bonds that the project’s parent company All Aboard Florida is seeking for the northern expansion of the service to Orlando. All Aboard received $600 million in private activity bonds for the first phase of the project. U.S. Transportation Secretary Elaine Chao has received letters to suspend … [more]

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The Real Deal’s first-ever golf outing in Broward County is almost here!

The Real Deal is pleased to announce we will be teeing off on our first golf outing at Grande Oaks Golf Club in Davie, Fla. — home to the filming of the cult classic “Caddyshack” — on Monday, June 4. To purchase tickets or foursomes, please visit our site  The outing will benefit the Orphaned Starfish Foundation, an advocacy group dedicated to working with orphans, victims of abuse and at-risk youth through computer technology. Please look … [more]

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