For info Miami: November 25, 2021
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APOLLON ENTERS BRICKELL: Apollo Global Management, a high-growth alternative asset manager, signed a 24,000 square foot long-term office lease with owner Nuveen Real Estate at 701 Brickell Ave. “Apollo Global Management Signing Long-Term Lease in Brickell Financial District Confirms Miami as Epicenter of Global Financial Services Firms – Capital Capital,” Miami Mayor Francois Suarez noted. A spokesperson for Apollo said, âExpanding our office footprint is an important part of our talent management strategy and attracting and retaining the best and brightest as we continue to grow our platform. “
PARKING BENEFITS: A Canada-based investment group this month acquired one of the largest parking lots in downtown Miami to leverage income and possible future development from its Israel-based owner, who sold the purchased property. in 2018 for a nice profit. Bayshore Partners US Limited Partnership paid $ 25 million for the 247,000 square foot Bayfront Garage at 255 NE First St. with 37,500 square feet of developable land. Vendor Mishorim Real Estate Investments Ltd., which is listed on the Tel Aviv Stock Exchange, had bought the garage for $ 18.25 million and increased its daily occupancy rate to 97%.
PRIVATE JETS ARE ABUNDANT: Some of the busiest days for air traffic are approaching with the combination of the holidays starting and Art Basel on December 2nd. However, the traffic isn’t just at Miami International Airport. Number of private jet flights doubles during Art Basel, according to Greg Chin, communications director of the Miami-Dade Department of Aviation. âOver the weekend, the daily average is usually around 80 jets,â he said on Monday. âBut this weekend, we are already at 100 for Art Basel. The number of passengers is uncertain as they are private jets, but it is estimated that 150 to 160 jets will land in Miami for the art exhibits.
GAS UP, DESCENT: Gas prices in Miami rose 5.7 cents per gallon last week to an average of $ 3.37, according to the GasBuddy survey. Miami gas prices are 5.5 cents per gallon higher than a month ago and $ 1.31 higher than a year ago. The national average price fell 1.9 cents over the past week to an average of $ 3.39. The national average is up 2.8 cents per gallon from a month ago and $ 1.30 more than a year ago. GasBuddy predicts a price drop for Thanksgiving that could last for several weeks. To cope with inflation, Gov. Ron DeSantis said Monday he would ask lawmakers next year to temporarily “zero” the state’s gasoline taxes.