Thursday, March 16, 2023 / by Dave Magua
Miami-based logistics firm Bulk Express Transport snagged an industrial site in the city’s Brownsville neighborhood for $17 million.
A Bulk Express affiliate paid $3.8 million per acre for the 4.4-acre site with a 14,000-square-foot warehouse, according to Vizzda. The buyer obtained a $13 million mortgage from Banesco USA. The seller, CUSA Investments managed by Jose Francisco Da Costa Gomez in Miami, paid $650,000 for the property in 2001, records show. The site has been used as a truck and container outdoor storage facility. The warehouse was completed in 1958, records show.
Founded more than 30 years ago, Bulk Express provides long haul transportation services of municipal solid waste, recyclables, construction and demolition debris, contaminated soils, ash, sludge and other materials, according to a press release. In December, Fort Lauderdale-based private investment firm Alterna Equity Partners acquired Bulk Express and its affiliates. The industrial sector ...
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Wednesday, March 15, 2023 / by Dave Magua
TPA Group bought an industrial development site west of Loxahatchee Groves for $36 million.
The Atlanta-based firm bought nearly 60 acres of land at 20305 State Road 80, in an unincorporated area of west Palm Beach County, from an affiliate of mining company Palm Beach Aggregates, according to records and real estate database Vizzda. TPA took out a $10 million loan from the seller.
The purchase breaks down to nearly $603,000 per acre.
TPA also has the right of first refusal to purchase another 37 acres nearby, according to records.
Palm Beach Aggregates is a mining company that also has interests in waste wood processing and owns land leased for sugar cane growing, its website shows. The firm, based in Palm Beach County and led by Enrique Tomeu, mines aggregate source material that’s used in construction.
In 2019, Palm Beach Aggregates filed an application to the county for an industrial project on 138 acres, including the land that traded. It would hav ...
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Tuesday, March 14, 2023 / by Dave Magua
Palm Beach County condo sales totaled $255 million in February, slightly higher than January’s $237 million.
Brokers closed 581 condo sales last month, compared with 506 in January, MLS data from Redfin show. Sale prices ranged from $60,000 to $7.4 million, with a median price of $250,000. The price per square foot ranged from $43 to $3,645, with a median of $229.
In January, prices ranged from $55,000 to $21 million, with a median price of $260,000. The price per square foot ranged from $76 to $3,788, with a median of $237.
Sun and Surf, unit 611, at 100 Sunrise Avenue in Palm Beach snatched February’s title of priciest condo sale, with a $7.4 million closing after spending 91 days on the market. Fern Fodiman with Sotheby’s International Realty worked on both sides of the deal. The purchase came to $3,645 per square foot.
That sale price is a significant drop from January’s top sale of $21 million. Robert Garvy, founder and former CEO of Intech In ...
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Wednesday, January 11, 2023 / by Dave Magua
Instead of its previous goal of reaching as many Americans as possible, the company will now focus on home loans for existing bank and wealth management customers and borrowers in minority communities, CNBC has learned.
As part of its retrenchment, Wells Fargo is also shuttering its correspondent business that buys loans made by third-party lenders and “significantly” shrinking its mortgage-servicing portfolio through asset sales.
Altogether, the shift will result in a fresh round of layoffs for the bank’s mortgage operations, executives acknowledged, but they declined to quantify exactly how many jobs will be lost.
Wells Fargo is stepping back from the multitrillion-dollar market for U.S. mortgages amid regulatory pressure and the impact of higher interest rates.
Instead of its previous goal of reaching as many Americans as possible, the company will now focus on home loans for existing bank and wealth management customers and borrowers in minority commu ...
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Monday, January 9, 2023 / by Dave Magua
Florida's population grew at the fastest rate of any state in 2022.
Some Americans think moving to a state without an income tax is a way to get ahead financially.
Higher insurance, healthcare, and housing costs mean not everyone will save money.
Americans are moving to Florida for better weather and lower taxes.
While they can likely count on warm temperatures in the years ahead, not everyone will find themselves better off financially.
From July 2021 to July 2022, Florida's population grew to over 22 million people, according to new Census Bureau data. The 1.9% increase was the largest of any US state over this period.
Ample job opportunities — evidenced by one of the lowest unemployment rates in the nation — and the growth of remote work have made it possible for many Americans to move to the Sunshine State. Many have also been drawn there because it's one of nine states with no state ia ...
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