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Latest real estate developments and deals

It is no secret that real estate along the Biscayne corridor is hot right now. Deep-pocketed developers-many-other countries are investing millions to build shopping malls and luxury high-rise condos in the neighborhood some people would not want to walk through a few years ago.

And while the case of eviction still plague the nation, Miami seems to show some signs of recovery.

The Biscayne Times compiled a list with the latest real estate transactions and developments for their August issue.

Here are some highlights.

18Biscayne:

The main piece of this project, located at 1777 Biscayne Blvd. in the Omni District, is a 49,200-square-foot Publix supermarket that will have a bakery, pharmacy and a coffee shop. Other tenants in this 57,200-square-foot mall include Wells Fargo, a GNC health store and a Hair Cuttery. About 98 percent is already leased and construction is set for completion in early 2012.

Sonesta Mikado Hotel:

Just a few feet from the Publix mall, developer Tibor Hollo is investing $62 million on a 250-room hotel. Completion of the project is scheduled for 2014.

Bay Point Center:

Biscayne Times reports the 43,000-square-foot center, at 3915 Biscayne Blvd., is nearly completed. Bay Point is a renovated four-story commercial building that will feature restaurants and retail on its ground floor and office space in the upper floors. The $5 million project is expected to receive a temporary certificate of occupancy within three months.

Milebella:

It can be complicated to build and renovate in the Upper Eastside because of its historic designation and the limitation of height, however, developer and restaurateur Steve Perricone and his partner Jay Solowsky will soon be building a $ 1 million spot , 10,000-square-foot store building at 6101 Biscayne Blvd Milebella to be called. The project will have six months to complete.

6405 Biscayne Blvd.:

Argentine developer bought land 15 000 square feet to 6405 Biscayne Blvd in the Upper Eastside. Sale price or name of the investor is unknown, but the new South American owner intends to build retail, according to the Biscayne Times.

Biscayne Plaza:

The oldest shopping center in Miami, Biscayne Plaza, located at 561 NE. 79th St., will soon undergo a “several-million-dollar renovation,” according to Terranova Corp., the property’s manager. Sabor Tropical Supermarket will become one of the plaza’s new tenants after a $1 million investment to renovate the 24,000-square-foot space the company will be leasing for 10 years.

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