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Jungle Island To Ask Miami To Approve Hotel Development

The owners of Jungle Island want to build a family-friendly hotel at the Watson Island theme park On May 24, park owner ESJ Capital Partners will ask the Miami City Commission to put a referendum on the August ballot that would ask voters to approve the development of a hotel of up to 130 feet tall with up to 300 rooms. would include an …

WeWork Finds Favor In Debt Market To Tune Of $700M

Despite a lack of cash flow and a middling credit rating, WeWork managed to blow out a bond sale to the tune of $702M. The New York-based co-working operator, which hit a valuation of $20B last year, sold seven-year bonds at par with a nearly 8% interest rate, surpassing an initial deal size expected to be $500M This bond sale came despite investor concerns that WeWork has …

‘Hello Sub-4% Unemployment’ — Economists React To April Jobs Report On Twitter

Non-farm payroll employment increased by 164,000 jobs in April, the U.S. Bureau of Labor Statistics, marking the country’s 91st straight month of employment gains.  The unemployment rate fell to 3.9%, the first time it has gone below 4% since 2000. The unemployment rate had been at 4.1% for six consecutive months.   https://www.bisnow.com/national/news/economy/hello-sub-4-unemployment-economists-react-to-april-jobs-report-on-twitter-88113

South Florida’s Land-Constrained Industrial Market Soaring To Record Prices

Miami’s average industrial asking rents reached an all-time high, $9 per SF, in Q4, according to CBRE, jumping nearly 50% in five years. Smith recently led the team representing NBC Universal/Telemundo Enterprises in securing 550K SF for 20 years for a headquarters, which includes production studio space, that opened this month in western Miami Dade. In Broward County, the market is almost as tight as …

WeWork Documents Reveal It Owes $18 Billion In Rent And Is Burning Through Cash As It Seeks More Funding

The office-leasing startup WeWork plans to raise more funding through a $500 million bond sale, according to the Financial Times. It’s the first time the company is raising money from debt investors after it raised billions in venture capital from backers such as SoftBank. WeWork disclosed startling underlying numbers for its business in its bond-sale documents, such as that it owes $18 billion in …

Related Group and Block Capital Break Ground On Micro Apartments In Wynwood

The five-story project at 51 N.W. 26th Street highlights two trends. A redevelopment wave in Wynwood thanks to new zoning, so more apartments and offices are coming to the district known for its street art and restaurants. Wynwood’s popularity has driven up land prices, so many developers have responded by introducing micro units. The Bradley will have 175 apartments, about 32,000 square feet of …

Human ‘Sea Nomads’ Can Dive Up To 13 Minutes

Southeast Asian Bajau ‘sea nomads’ have evolved larger spleens to allow them to dive longer, according to a study published in Cell by Cambridge, Berkeley and Copenhagen researchers The DNA mutation was uncovered in the Bajau people of southeast Asia, according to researchers from the University of California, Berkeley, and the Universities of Cambridge and Copenhagen. Scientists suspect the mutation alters the spleen, a …

Specialist Vegan Supermarket With Cafe Opens In Florida

An all-vegan supermarket selling national, international, and organic foods is now open in Fort Lauderdale, Florida. First store location: 330 SW 2nd Street in downtown Ft Lauderdale, Florida   Vegan Fine Foods – was created by Florida Atlantic University professor Dr. Steven Smith Life-long vegan “After a few weeks on a healthy plant-based diet I felt great and had so much more energy.” said Dr. Smith Time-consuming …

From Vertical Industrial To Smart Parcels: These 10 Innovations Could Radically Alter Urban Logistics

Here are 10 innovations in the urban logistics space that speakers at Bisnow London’s Industrial and E-Commerce event predicted as having a huge impact on the sector. Vertical Buildings Driverless Cars Currently warehouse locations are to a big extent determined by how big an area can be reached by a truck driver in a single shift. If trucks do not need drivers any more, …

Miami Boasts Less Retail Space Availability Than New York, Los Angeles, Data Show

The demand comes with one of the fastest-growing rental rates in the past five years, a CBRE report finds For years, Miami has been working to grow, attract investment and claim its spot among the big metropolitan players like New York and Los Angeles from tech to real estate. Ana Barcelo, CBRE’s first vice president and high-street retail expert in Miami says, “The rental rates have …

Industrial Market Thriving on High Demand, Limited New Supply

South Florida’s tight industrial real estate market is setting records as demand rises without much new in the pipeline More than 11.5 million SF of industrial space in South Florida was leased in 2017, pushing down vacancy rates and strengthening the industrial real estate market. With higher rents for stores, retailers hold some of their products in nearby warehouses to significantly reduce their store square …

Cover Story: Mixed-Use Zoning Key To Cypress Creek’s Transformation

Fort Lauderdale’s Cypress Creek area is one of South Florida’s largest business districts, yet its office market hasn’t bounced back as strongly as others in the region. A proposed zoning change could transform the office district into a vibrant neighborhood with a multitude of housing, dining and entertainment options. As South Florida’s eighth-largest office market, and the second-largest in Broward County, Cypress Creek is …