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South Florida Business and Wealth
South Florida Business & Wealth

TherapeuticsMD moving headquarters

| Andrea Richard
NAI/Merin Hunter Codman completed one of 2018’s largest office lease transactions in Palm Beach County, with TherapeuticsMD signing a 56,212-square-foot lease at 951 Yamato Road in Boca Raton. The women’s health care pharmaceutical firm has received three FDA product approvals since May and outgrown its 32,000-square foot location at 6800 Broken Sound Parkway NW.

NAI/Merin Hunter Codman completed one of 2018’s largest office lease transactions in Palm Beach County, with TherapeuticsMD signing a 56,212-square-foot lease at 951 Yamato Road in Boca Raton. The women’s

Housing bubble seen in Dallas

| Andrea Richard
U.S. metropolitan residential real estate markets are peaking, and some cities are in another pricing bubble, according to the latest national index produced by Florida Atlantic University and Florida International University faculty. The Beracha, Hardin & Johnson Buy vs. Rent Index scale goes from minus-1 (good time to buy) to 1 (better to rent) with zero being neutral. Two metropolitan areas—Dallas (0.92) and Denver (0.77)—are significantly overheated and rapidly approaching a score of 1, said Ken Johnson (above), one of the index’s creators and associate dean and professor in FAU’s College of Business.

U.S. metropolitan residential real estate markets are peaking, and some cities are in another pricing bubble, according to the latest national index produced by Florida Atlantic University and Florida International

Turnaround at Office Depot

| Andrea Richard
While the stock market generally was in turmoil during November, shares of once-beleaguered Office Depot were up 26.2 percent, according to S&P Global Market Intelligence. The company announced quarterly results that beat expectations and said it would buy back $100 million of its stock and reduce debt. “We’re making excellent progress on our strategy, and we have again delivered strong top line growth and generated significant free cash flow,” said CEO Gerry Smith.

While the stock market generally was in turmoil during November, shares of once-beleaguered Office Depot were up 26.2 percent, according to S&P Global Market Intelligence. The company announced quarterly results

A new mega public company

| Andrea Richard
The breakup of United Technologies is resulting in Carrier becoming one of three separately traded public companies with headquarters in Palm Beach County. UTC Climate, Controls & Security is already headquartered at the Center for Intelligent Buildings in Palm Beach Gardens and will be renamed Carrier, which is its well-known air conditioning brand. Carrier had 2017 sales of $17.8 billion in HVAC, refrigeration, fire, security and building automation technologies.

The breakup of United Technologies is resulting in Carrier becoming one of three separately traded public companies with headquarters in Palm Beach County. UTC Climate, Controls & Security is already

Time to chill

| Frank Papandrea
Sailfish Marina Resort in Palm Beach Shores celebrated the opening of a large tiki hut bar built by members of the Seminole Tribe of Florida. The hut replaces an old motel that stood on its south side for many years. The resort calls the marina the Yankee Stadium of big-game sport fishing, with a charter fleet and record-setting catches. It is owned by American Financial Group.

Sailfish Marina Resort in Palm Beach Shores celebrated the opening of a large tiki hut bar built by members of the Seminole Tribe of Florida. The hut replaces an old

Art as an asset is on the rise

| Andrea Richard

UBS has published a special edition of its Investor Watch Pulse Report, to coincide with 2018’s Art Basel in Miami Beach. For this edition, UBS surveyed 175 HNW fine art

High-tech fashion shopping

| Andrea Richard

Custom clothier Graupel has brought 3D technology to its new store at the Shops at Merrick Park in Coral Gables. “Our company utilizes the most accurate 3D technology to generate

Brightline to become Virgin Trains

| Andrea Richard

High-speed passenger service Brightline announced it would rebrand as Virgin Trains USA under a strategic partnership and trademark licensing agreement with the Virgin Group, one of the world’s most recognizable

Higher education gets worldly

| Frank Papandrea

University of Miami Business School partnered with OneMBA, an executive MBA program that works with renowned business schools across the globe. Through this partnership, UM will join a network with

Casino Miami sold

| Andrea Richard
Casino Miami has been acquired by Las Vegas casino mogul Phil Ruffin with hints of big plans at the 21-acre site, which has room for more development. The 200,000-square-foot casino at 3500 NW 37th Ave. currently boasts 1,000 slot machines, but is licensed to hold 2,000. “We have exciting plans for Casino Miami that we will be revealing in the near future,” said Ruffin, who owns the Treasure Island Hotel and Casino in Las Vegas.

Casino Miami has been acquired by Las Vegas casino mogul Phil Ruffin with hints of big plans at the 21-acre site, which has room for more development. The 200,000-square-foot casino