Aventura Mall, Commercial Real Estate

Aventura Mall adds $125 Million in Upscale Retailers

Consumer confidence may be down and the economy cooling down but that has not discouraged Turnberry Associates, owner and manager of The Aventura Mall, from completing a $125 million dollar, commercial real estate project. The new project consists of a three level wing of upscale stores and restaurants to the mall. This expansion includes a 167,000 square foot Nordstrom department store.

With this new commercial real estate project underway, Aventura Mall is set to become one of the nations largest with its plan to add 300,000 square feet in fall 2007.

The 2.8 million square foot shopping mall was opened in 1983 at 19501 Biscayne Boulevard and expanded twice, in 1997 and again in 2006.

Already regarded as one of the nation's top malls in terms of sales productivity, the upscale luxury mall is among the five highest grossing shopping malls in the country.

Full Article...Aventura Real Estate, Commercial Real Estate

Foreclosure Homes, Miami Beach Real Estate

Huge Foreclosure Case, Nineteen Indicted

On Monday, Federal officials announced the indictment of 19 people in what they call the largest "foreclosure rescue" scam in the nation. This foreclosure scam allegedly took in more than $12 million and affected more than 100 foreclosure homes.

In Sacramento, the mortgage-fraud case was announced at the federal courthouse where the defendants were charged by a grand jury with mail fraud, money laundering and conspiracy to commit both.

The Sacramento Bee, in February, obtained a search warrant for the case, which victimized homeowners throughout the nation.

Full article...19 Indicted, Miami Beach Real Estate