Commissioners seek new plans for Melreese, Virgin Trains Aventura stop would have low ridership: Daily digest

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Every day, The Real Deal rounds up South Florida’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to [email protected]

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Ross Dress for Less

Ross Dress for Less

Ross Dress for Less signs lease at historic former Burdines building in downtown Miami. The retailer plans to lease 34,192 square feet at 22 East Flagler Street. The vacant building was most recently occupied by Macy’s. Macy’s closed the store in early 2018 as part of a wave of closures as it looked to shed its assets and reduce costs. [TRD]

Here’s a look at Blackstone’s industrial plays after its record-breaking portfolio purchase. After Blackstone dropped almost $19 billion on an industrial portfolio in June — the biggest portfolio deal ever — the private equity giant’s industrial activity hasn’t let up. [TRD]

David Kurz and eXp Realty CEO Glenn Sanford

David Kurz and eXp Realty CEO Glenn Sanford

Kurz Real Estate joins eXp Realty. Virtual brokerage eXp Realty is growing by nearly 200 agents in South Florida with the acquisition of Kurz Real Estate, The Real Deal has learned. [TRD]

WeWork is investing again with fundraise for proptech. WeWork has apparently recovered enough from its attempted initial public offering rollout to invest again. The coworking company recently took part in a $4.6 million venture round for the commercial real estate startup company Jones, Jones announced on Thursday. [TRD]

Former hedge funder sells waterfront home in Coral Gables for $8M. Chad Loweth sold the 6,471-square-foot house at 500 Marquesa Drive for $1,251 per square foot, records show. [TRD]

Echo Brickell and PMG principal Ryan Shear

Echo Brickell and PMG principal Ryan Shear

Construction of Echo Brickell allegedly damaged neighboring condo building: lawsuit. The condominium association for Brickell East, a 1980s condo tower, is accusing Echo Brickell’s developer and condominium association of being bad neighbors. [TRD]

Two Miami-Dade commissioners demanded a vote for whether the city should solicit other redevelopment plans for Melreese. Commissioner Manolo Reyes also demanded the city staff bring back a contract later in the month so the commission can vote it up or down, according to the Herald. [Miami Herald]

Virgin Trains stop in Aventura would have low ridership, report says. A Miami-Dade County report said a tax-funded Virgin Trains stop near Aventura Mall would have “fairly low” ridership at “extraordinarily high” fares compared to prices for mass transit, according to the Miami Herald. The staff still recommended the $76 million expenditure, according to the Herald. [Miami Herald]

North Miami apartment building seeks to raise money through crowdfunding. New York-based ArborCrowd has launched a campaign to develop Biscayne 112 in North Miami, according to the Miami Herald. The company hopes to raise $5.15 million in $35,000 increments over the next 30 days. The total cost of the project is $103.8 million and more than 85 percent of that has already been raised through other sources, according to the Miami Herald. [Miami Herald]

Compiled by Keith Larsen

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