Miami — Lionheart Capital, Leviathan Development and Well Duo will develop a new mixed-use project in Miami. Dubbed MIRAI Design District, the development is designed by architect Kengo Kuma, marking the first mixed-use project in the country for Kengo Kuma and Associates (KKAA). Upon completion, the property will comprise 15,500 square feet of ground-floor retail space across 17 units, with roughly 41,000 square feet of office space on the second and third floors. Construction is scheduled to begin in summer 2024, with completion anticipated by the end of 2025.
Aventura, Fla. — Diamonds Direct has opened a new store in Aventura. Situated on Biscayne Boulevard, the showroom totals 6,000 square feet. The store offers loose and mounted diamonds, engagement ring mountings, jewelry, wedding bands and pearls, among other products.
Delray Beach, Fla. —Benderson Development has acquired Linton Commons, an 85,000-square-foot retail center located in Delray Beach. Tenants at the property include RH Outlet, Guitar Center, PetSmart, Chipotle Mexican Grill and AT&T. Benderson’s portfolio in the state also includes a freestanding Publix Super Market in Pompano Beach, which was acquired in August, and a Publix-anchored shopping center in Englewood. Matt Berres, Samer Khalil and Karick Brown of Newmark represented the seller and procured the buyer in cooperation with Bert Sanders of Newmark.
Orlando, Fla. — A joint venture between SED Development LLC, JMA Ventures LLC and Machete Group Inc. has developed plans and renderings for a new mixed-use development in downtown Orlando. The project, dubbed the Orlando Sports + Entertainment District, will comprise 900,000 square feet situated on 8.5 acres adjacent to Amway Center, the home arena for the NBA’s Orlando Magic. The Orlando Sentinel reports the project will cost roughly $500 million to develop. In addition to hotel, residential and office space, the development will feature 100,000 square feet of shops and restaurants and …
Crescent City, Fla. — CrossMarc Services LLC has purchased Crescent City Plaza, a 47,945-square-foot shopping center located in Crescent City, for $2.7 million. Built in 1974 and remodeled in 2019, the property is leased to tenants including Save-A-Lot and Family Dollar. Situated on 7.6 acres, the center also features a parcel for future outparcel development. Jimmy and Leo Island Properties was the seller. CrossMarc Services will handle leasing and management at the property.
Spring Hill, Fla. — A joint venture between the Sembler Co. and Forge Capital Partners has completed a $13.3 million redevelopment of Hernando West Plaza, a retail center located in Spring Hill. The partnership, dubbed Forge Real Estate Partners IV, acquired the property in 2020 before commencing the 11-month redevelopment project. Construction included the demolition of an existing 46,000-square-foot grocery store and 9,800 square feet of inline shop space, originally built in 1980. A new 45,000-square-foot grocery storefront has been constructed, as well as an adjacent 3,200 square feet of shop …
Babcock Ranch, Fla. — Retail tenants have signed leases totaling more than 120,000 square feet at Babcock Ranch, a solar-powered mixed-use community currently underway in South Florida. The project is entitled for 6 million square feet of commercial space, in addition to residences. Upon completion, the development will feature 4 million square feet of retail space, including shopping centers The Shoppes at Yellow Pine and Crescent B Commons. Marshalls, Ace Hardware, Five Below, Oar & Iron, Tipsy Salonbar, Fountain Pools, Seymour Orthodontics, Yummy Thai & Chinese, Verizon, Papa Johns, Carvel and …
Miami — Two new tenants have signed leases at Miami Worldcenter, a 27-acre mixed-use project being developed in phases in downtown Miami. Beginning next year, The Container Store and and Sweet Paris Creperie & Café will occupy 15,681 and 2,330 square feet, respectively. Miami Worldcenter Associates is developing the property with CIM Group, which handles retail leasing at the project. Retail space at the development is now more than 90 percent leased. Other tenants include Chug’s Express, El Vecino Cigar & Cocktail Bar, lululemon, Sephora, Sports & Social and Club Studio.
St. Petersburg, Fla. — Florida-based developer and founder of The Sembler Co. Mel Sembler has passed away at the age of 93, according to a statement from the company. Sembler founded his eponymous real estate company in 1962. To date, it has completed more than 350 developments totaling 29 million square feet. Additionally, the company manages and leases 10 million square feet of real estate and has offices in St. Petersburg, Florida, Atlanta and Puerto Rico. Currently, The Sembler Co.’s portfolio includes Belmont Shopping Center in Ruskin, Florida, and North Macon …
Cooper City, Fla. — Three tenants have opened at The Shoppes at Monterra Commons, a 153,618-square-foot mixed use property in Cooper City. Culver’s, First Watch and The Learning Experience now occupy 4,300; 3,700; and 10,000 square feet at the development, which was completed in August. Cali Coffee, Playa Bowls, Gyromania, Oaxaka, Tide Cleaners, Blueprint Cookies, Jonari Dental, Kami Nail House, Huey Magoos and AA Mint have also signed leases totaling 16,330 square feet at the property. Diversified Realty Development is the landlord and developer.