Written by Miami Today on March 15, 2012
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LIST SERVE: In a move that could increase transparency across the Miami-Dade job market, the county commission’s Recreation & Cultural Affairs Committee forwarded Monday to the full commission an item asking that Mayor Carlos Gimenez prepare a printed report of the names, positions and salaries of all county employees. If approved, Mr. Gimenez would update the report during the county’s annual budget meetings, to be placed in regional libraries. The full commission is to hear the item April 3.
LUXURY RENTALS: Atlantic | Pacific Development, the development subsidiary under Atlantic | Pacific Companies, announced it will be developing The Atlantic | Doral Grande, a luxury rental community at 10500 NW 74th St. in Doral. The company has secured all permits and the groundbreaking is to occur in about 30 days. The project will consist of 360 luxury residential units, which are expected to be available for occupancy in spring 2013.
COMMERCIAL VACANCIES: The National Association of Realtors predicts Miami commercial vacancy rates in the first quarter will be lower than the national average in all top four sectors. Office, industrial, retail and multifamily will all have lower vacancy rates compared to the average of the other 73 markets tracked in the February Commercial Real Estate Outlook. The association predicts Miami will have a 7.6% vacancy for industrial, compared to the national average of 11.7%. Miami’s retail vacancies are also predicted to be significantly lower at 7.3%, compared to the national rate of 11.9%.
ABANDONED STRUCTURES: The City of Miami Commission deferred voting on an item during last week’s regular meeting that is expected to decrease crime associated with unsecured and abandoned structures by compelling property owners to secure such structures with metal coverings or the city would step in. The item passed on first reading last month but commissioners were concerned about where the city would get funds to secure the properties. The item was deferred to an April meeting.
NEW LEASE: Büro, a South Florida provider of modern workspace for entrepreneurs and creative professionals, signed a new long-term lease for 10,440 square feet. The lease at 1815 Purdy Ave. in Miami Beach marks the second location for the Miami-based company following its debut in Midtown. Comras Co. completed the transaction.
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