September 27, 2016 — THE MIAMI HERALD — BY NANCY DAHLBERG A new report by the Miami Downtown Development Authority confirms what the restaurant openings, cranes and traffic snarls already tell us: Young professionals are still moving to downtown Miami in droves, and new businesses are following them.
According to the Miami DDA’s Demographics Report that will be released Tuesday, downtown Miami’s full-time population has soared to nearly 90,000 residents. That’s up 32 percent since 2010 and 150 percent since 2000.
Young professionals between the ages of 20 and 44 make up about half of this population, helping to fill the more than 20 new residential towers that have been built since the last real estate boom. More than half of downtown residents have obtained some form of college education, the report said.
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Millennials migrate to downtown Miami in droves and business follows
/in Trending topics, Trends, UncategorizedSeptember 27, 2016 — THE MIAMI HERALD — BY NANCY DAHLBERG A new report by the Miami Downtown Development Authority confirms what the restaurant openings, cranes and traffic snarls already tell us: Young professionals are still moving to downtown Miami in droves, and new businesses are following them.
According to the Miami DDA’s Demographics Report that will be released Tuesday, downtown Miami’s full-time population has soared to nearly 90,000 residents. That’s up 32 percent since 2010 and 150 percent since 2000.
Young professionals between the ages of 20 and 44 make up about half of this population, helping to fill the more than 20 new residential towers that have been built since the last real estate boom. More than half of downtown residents have obtained some form of college education, the report said.
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Two Miami Beach Properties Sell for $49 Million, Doubling Purchase Price
/in Acquisitions, General, In the newsDAILY BUSINESS REVIEW — July 18, 2016 — BY CARLA VIANNA. Sit on an asset long enough and it’ll double in price.
Terranova Corp. affiliate Beach Tower LLC sold the office towers at 1674 and 1688 Meridian Ave. for $48.75 million in a deal that closed July 14, the real estate advisory firm announced. The seller pocketed the buildings in 2004 with two transactions totaling $27 million.
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Two office buildings near Lincoln Road sell for $48.75 million
/in Acquisitions, General, In the newsMIAMI HERALD — July 15, 2016 — BY CHABELI HERRERA. An affiliate of Miami Beach-based commercial real estate firm Terranova Corp., Beach Tower LLC, has sold two office buildings a block north of Lincoln Road for $48.75 million, furthering the firm’s goal of expanding the promenade to 17th Street.
Ivy MBT Property has purchased the buildings from Beach Tower LLC, which purchased the properties at 1674 and 1688 Meridian Ave. in 2004
Nearby, Terranova is also developing two three-story buildings — at 723 Lincoln Lane and 801 Lincoln Road — into retail projects with Marshalls and Anthropologie as anchor tenants.