Real Estate Blog of Schecter Law, PA » Miami Gardens http://schecterlaw.com/realestateblog Your Big Firm Alternative Wed, 17 Aug 2011 14:17:24 +0000 en hourly 1 http://wordpress.org/?v=3.1.2 Unexpected Buyers of Commercial Properties in South Florida http://schecterlaw.com/realestateblog/unexpected-buyers-of-commercial-properties-in-south-florida/ http://schecterlaw.com/realestateblog/unexpected-buyers-of-commercial-properties-in-south-florida/#comments Fri, 06 Nov 2009 00:43:45 +0000 Mark Schecter http://www.schecterlaw.com/realestateblog/?p=205 In recent months, we’ve discussed a range of topics relating to South Florida’s commercial real estate market. We’ve considered the current state of the market, the benefits of investing in commercial properties and foreclosures, as well as facts you should know before you lease commercial property.

As the commercial market attempts to recover from its slump, properties in Broward County are being purchased by some unexpected buyers – local municipalities. Cities like Sunny Isle Beach and Miami Gardens are taking advantage of commercial foreclosure deals and grabbing up real estate for future expansion projects.

Sunny Isles Beach

The city of Sunny Isles Beach recently secured nearly 1.5 acres of land to use to build a new park. The two retail buildings were purchased for $9.3 million, and the city is in the process of purchasing a third retail property. This follows a previous acquisition of a 2-acre parcel.

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