Industry News

Downtown Fort Lauderdale attracting developers, boomers and millennials

Posted: 12/13/2016 by Heather Gogola

The vacant lots, old warehouses and dilapidated housing that have long characterized much of urban Fort Lauderdale are disappearing quickly.

Marriott International to Acquire Starwood Hotels & Resorts Worldwide, Creating the World's Largest Hotel Company

Posted: 04/04/2016 by Heather Gogola

Combined Company Will Have 1.1 Million Rooms in More Than 5,500 Hotels,
Spanning the Globe in Over 100 Countries
30 Leading Brands Will Provide Guests Unmatched Choices
Transaction Offers Substantial Economies of Scale
Combined Company Should Deliver Significant Capital Returns to Shareholders

What's New in Greater Fort Lauderdale-Hotels

Posted: 03/14/2016 by Heather Gogola

7-Eleven® Aims for 100 Vets, $2 Million in Discounts for Military Vet Franchise Program

Posted: 03/14/2016 by Heather Gogola

7-Eleven, Inc., ranked among top military and veteran-friendly companies, wants to provide more franchise opportunities to qualified men and women who have served in the U.S. Armed Forces The retailer has set a goal of recruiting 100 veterans and providing $2 million in discounts by the end of 2016.

Happy Thanksgiving From The Solid Investments Group!

Posted: 11/25/2015 by Heather Gogola

We would like to wish you and your family a happy and healthy Thanksgiving!

Fort Lauderdale funeral home sold for $12M, hotel planned

Posted: 10/21/2015 by Heather Gogola

A Fort Lauderdale funeral home sold for $12 million as the buyer plans to replace it with a property that would check in the living: a hotel.
FEDEQ DV002, a Miami company headed by Jonathan Cox, sold the 33,540-square-foot site to 299 N. Federal Master, an affiliate of Philadelphia-based Wurzak Hotel Group. The price equates to $358 per square foot.

Chatham Lodging Completes Acquisition of the Residence Inn Fort Lauderdale Intracoastal

Posted: 10/21/2015 by Heather Gogola

***Sale Price 33,500,000/$319,000 per key***

PALM BEACH, Fla.--(BUSINESS WIRE)--Chatham Lodging Trust (NYSE:CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced that it has completed the previously announced acquisition of the 105-room Residence Inn Fort Lauderdale Intracoastal/Il Lugano.

Legoland Florida gets its first hotel

Posted: 08/19/2015 by Heather Gogola

WINTER HAVEN - Legoland Florida shifts from a day attraction to a resort destination with the opening of a 152-room hotel Friday.

The brightly colored hotel, designed to look like it's created from Lego bricks, is right outside the main gates of Legoland Florida.

The theme park was destined to have a hotel even before it opened in 2011, Adrian Jones, the resort's general manager, said Wednesday.

Legoland's Heartlake City debuts, puts girls up front

Posted: 08/19/2015 by Heather Gogola

WINTER HAVEN - Girls are front and center at Heartlake City, the latest expansion of Legoland Florida.

The area, which officially opens Friday, is themed to the Lego Friends line of products that revolves around the lives and friendship of five young girls. Visitors can see Andrea, Emma, Mia, Olivia and Stephanie in Lego-ized and live forms at the theme park.

Legoland needs more room to build lego figures; expanding once again

Posted: 08/19/2015 by Heather Gogola

WINTER HAVEN, Fla. - Once again, Legoland Florida is announcing plans to expand in central Florida.

The four-year-old theme park now plans to make Polk County its North American headquarters.

CVS Health Agrees to Take Over Target Pharmacies, Clinics in $1.9B Deal

Posted: 06/15/2015 by Heather Gogola

WOONSOCKET, R.I. AND MINNEAPOLIS - CVS Health Corp. (NYSE: CVS) has agreed to acquire Target's (NYSE: TGT) pharmacy and clinic businesses for about $1.9 billion. The acquisition includes more than 1,660 pharmacies throughout 47 states. They will operate as a store-within-a-store format, and will be rebranded as CVS/pharmacy.

January Jobs Report Is Harbinger of Good News for Commercial Real Estate Landlords

Posted: 02/10/2015 by Heather Gogola

The accelerating labor market is bound to stoke tenant demand for all types of commercial real estate, says Robert Bach, director of research for the Americas at brokerage services firm Newmark Grubb Knight Frank.

The veteran economist's assessment comes on the heels of a better-than-expected Bureau of Labor Statistics (BLS) report released last Friday that shows U.S. employers added 257,000 net new payroll jobs in January, beating the 230,000 jobs forecast by Bloomberg in its survey of economists. In another sign of momentum, the November and December totals were revised upward by a combined 147,000 jobs.

FPL sells vacant downtown Miami lot for $21M

Posted: 02/02/2015 by Heather Gogola

Florida Power & Light sold a vacant lot in downtown Miami for $21 million last week. FPL sold the 2.2-acre site to Miami Bridge Lot Ventures, a partnership between Ytech International and Miami investor Carlos Mattos, according to a news release. The lot, located at 201 Southwest Second Avenue, was last assessed by the Miami-Dade property appraiser at $4.1 million and is zoned for commercial use.

Index: Prices up 'Across the Board' in 2014, Midwest Expected To Outpace The Nation

Posted: 01/06/2015 by Heather Gogola

Ohio leads the pack with the highest number of metros at the top of our forecast with predicted price growth in Columbus, Dayton, Cleveland and Cincinnati ranging from 2.2 percent to 4.5 percent in 2015

Happy New Year From The Solid Investments Group!

Posted: 12/31/2014 by Heather Gogola

The Solid Investments Group wishes all of our valued clients and their families a joyous holiday season and a happy, healthy and prosperous New Year! We thank you for your past and future business and look forward to helping you with your commercial real estate needs in 2015!

Westin Diplomat trades in $535.5M transaction

Posted: 09/02/2014 by Heather Gogola

In one of the most expensive real estate deals in South Florida history, Hollywood's Westin Diplomat Resort & Spa changed hands for $460 million as part of a $535.5 million transaction.

DISCOUNT DYNASTY: DOLLAR TREE TO ACQUIRE FAMILY DOLLAR FOR $8.5B

Posted: 07/29/2014 by Heather Gogola

"This is a transformational opportunity," says Bob Sasser, CEO of Dollar Tree. "With the acquisition of Family Dollar Stores, Dollar Tree will become a leading discount retailer in North America, with more than 13,000 stores in 48 states and five Canadian provinces, sales of over $18 billion, and more than 145,000 associates on our team."

U.S. Commercial Real Estate Enjoys Strong Rebound in Q2

Posted: 07/14/2014 by Heather Gogola

The retail availability rate declined 11.7%, down 20 bps compared to Q1 2014.

Donald Trump slapped with sanction in Fort Lauderdale case

Posted: 06/24/2014 by Heather Gogola

Donald Trump was hit with a sanction from a federal judge for failing to disclose a $5 million insurance policy when claims tied to the scuttled Trump International Hotel & Tower project were being settled.

Sprawling water park planned in Fort Lauderdale

Posted: 05/27/2014 by Heather Gogola

An enormous water park is being planned at the former spring training home of the Baltimore Orioles and New York Yankees in Fort Lauderdale.

MATTRESS FIRM TO ACQUIRE 75 MATTRESS STORES IN COLORADO, ARIZONA

Posted: 04/28/2014 by Heather Gogola

HOUSTON - Mattress Firm Holding Corp. (NASDAQ: MFRM) has entered into an agreement to acquire substantially all of the retail assets and operations of Mattress Liquidators Inc., which operates Mattress King retail stores in Colorado and BedMart retail stores in Arizona. The Houston-based mattress retailer will add approximately 75 specialty retail stores in markets where it currently operates - primarily Denver, Phoenix and Tucson, Ariz. The aggregate purchase price is approximately $35 million.

High-end retail to anchor Brickell City Centre

Posted: 04/21/2014 by Heather Gogola

Whitman Family Development is reportedly striking a deal with a luxury retail store to anchor its Brickell City Centre.
Swire Properties' $1 billion development, a major installment in the area's recent construction surge, will feature a high-end brand like Harrods, Neiman Marcus or Saks Fifth Avenue at 700 Brickell Avenue, according to president and chief executive Matthew Lazenby.

U.S. CMBS DELINQUENCY RATE DECLINES FOR THE 10TH STRAIGHT MONTH

Posted: 04/16/2014 by Heather Gogola

NEW YORK - The delinquency rate for U.S. commercial real estate loans in commercial mortgage-backed securities (CMBS) fell 24 basis points in March to 6.54 percent, according to New York-based Trepp LLC. The last time the delinquency rate was below this level was more than four years ago in January 2010. Today's rate is 288 basis points lower than where it stood a year ago.

Ultra-modern Walgreens coming to Brickell-Drug store chain paid $10 million for one-acre property

Posted: 04/07/2014 by Heather Gogola

There isn't anything unusual about a new Walgreens opening in Brickell. But a Walgreens with architecture that can only be described state of the art is really something different.
Earlier this month, Walgreens paid $10 million for the one-acre property at 296 SW 7th Street, just two blocks away from the massive Brickell City Centre development, according to Exmiami.

Sawgrass Mills to expand in Sunrise

Posted: 03/28/2014 by Heather Gogola

One of the nation's largest outlet malls is growing. Sawgrass Mills in Sunrise has received permission from city officials to construct three buildings northeast of the Colonnade Outlets.
Sunrise commissioners unanimously approved plans for nearly 82,000 square feet of additional space for retailers, restaurants and public restrooms. Currently, Sawgrass is home to more than 350 stores, according to the Sun-Sentinel.