Sustainable Design Isn't Just for People
Sustainable design is almost ordinary these days, but there are still a few new twists. Such as Deerfield Beach Pier and Café's special consideration for the local sea turtle population.
The LEED Silver structure's sea turtle-sensitive design is centered around the lighting techniques involved in the project, specially engineered to ensure the long-term well-being of the local fish and wildlife species, Garcia Stromberg founding partner Peter Stromberg tells us. Putting it together entailed a close relationship with the local environment specialists from the Florida Fish and Wildlife Conservation Commission. Snapped: Garcia Stromberg partner Jorge Garcia and Peter, standing in front of one of Peter's larger works (he also paints).
 Besides turtle protections, the architects incorporated water-efficient landscaping, low-impact building materials, and specialized roofing into the plans. The pier won the Broward League of Cities award for Sustainable Development, and the café was the first LEED-certified restaurant in Broward County. Peter adds that he anticipates that developers and investors will insist on more and better green features, to make properties both profitable and sustainable. |
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Top stories on Bisnow.com
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Companies Look for HQ Space Outside Downtown
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Miami's CBD and Brickell are hot places for corporate offices, but not everyone needs to be there—Eastern National Bank recently left Brickell to relocate to the 67k SF Dadeland @ 9700 (9700 S Dixie Hwy) in the Dadeland/Pinecrest submarket. Avison Young principal Donna Abood (snapped with her parents recently) tells us that the bank wanted not only good space, but a location that would allow it, as a community bank, to expand its footprint beyond the CBD and enter the Pinecrest and Palmetto Bay markets. |
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Over the past year, new tenants (including Eastern National Bank) represent nearly 65% of the building, bringing Dadeland @ 9700 to fully occupied. During that time, ownership made various capital improvements, including a new façade and common areas designed by Burton Hersh. Donna adds she expects that the submarket will continue to attract companies, with its access to amenities that allow for workforce recruitment. Donna, along with colleagues Joe Abood and Ericka Witkowski, repped the landlord in the deal. |
Following Coto Buy, West Brickell Poised for Growth
Argentine grocery magnate Alfredo Coto recently acquired an acre of West Brickell, actually two lots (plus a third one that sold last year) at Eighth Street and Second Avenue for a total of $16M. Even as the area continues to be redeveloped, opportunities for new developments arise, CWV Realty Group's Maria Alvarez tells us. The site is approved for multi-use development, including offices and residential units, and might be as tall as 24 stories. Maria, along with colleagues Octavio Rinaldi and Florencia Yagodnik, repped Coto in the deal.
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Interest Rate Uncertainty Isn't Stopping Deals
Early 2015 might be remembered as the pre-interest rate rise period. But the uncertainty is not deterring solid deals, Intercredit Bank president/CEO Simon Cruz tells us. "Everyone expects rates to go up but no one knows when," he says. Intercredit is expanding into multifamily lending. "As rates rise, there might be a little less need for financing, but as a community bank we must serve that need." Intercredit Bank recently returned to profitability after a difficult period, and Simon says the bank likes the multifamily sector because there's strong demand and when properly underwritten, it's a "great asset to have on the books." |
Uber Feeds Investor Frenzy $1B Round Expansion
 Despite hitting some well-publicized bumps in the road of late, Uber has raised another $1B in Series E financing according to documents the ride share app filed today with the Delaware Secretary of State. That ups the round's total capacity to $2.8B, which supplements $4B already raised. The expansion does not lift Uber's already stratospheric $40B valuation, but clearly speaks to insatiable investor demand for the sharing economy standout.
Indeed, the news comes just weeks after Uber closed a $1.2B financing round and said it had capacity for another $600M. "The participation we have seen in Uber's Series E underscores the confidence investors have in Uber's growth,” company spokesman Nairi Hourdajian said in a prepared statement.
Uber, an exceptionally fast grower even by the standards of the current tech goldmine, has yet to discuss any time frame for going public. Tomorrow, it launches its carpooling platform, UberPool, in Los Angeles, having already introduced it in San Francisco and New York.
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New Bisnow Video:
The Art of Negotiation!
Three Reasons to Watch Our Latest Video, "The Art of Negotiation" with Dr. Peter Linneman:
1. If they don't let you expense it at first, you'll be able to negotiate that later.
2. Knowing how to negotiate your compensation will always be useful.
3. It may help you talk your way out of a parking ticket.*
(*Not guaranteed)
You'll also learn about how to negotiate a real estate deal. From learning what your opponent wants to getting what you want, Dr. Linneman explains more than just the basics behind the Art of Negotiation. Watch a sample here. (And check out all of our videos here.) Order yours, and for training program group licenses, email Will Friend at will@bisnow.com. |
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