Originally Posted on Wednesday, September 20, 2006
Shaquille O'neal anounced on Tuesday morning the formation of the O'Neal Group, that will consolidate his considerable real estate holdings into one company and focus on new "integrated living" projects. These projects mix work, life and play all in one and the first investment that the O'Neal Group is making is in the Metropolitan Miami downtown development. The development will consiste of Met 1, Met 2 and Met 3 (Click here for more information on Met 3). It is one of the most impressive preconstruction projects in a city that has some of the most amazing projects in the world!
The O'Neal Group will have an undisclosed interest in the new development in addition to the purchase of a unit and the leasing of 45,000 square for a 24 Hour Fitness gym, that Shaq is also a partner in. The O'Neal Group has been looking all over the country for the perfect place to invest and according to Shaq, the best place they found was in their own backyard. This is a major vote of confidence in market that has been clouded with doomsayers for the last several months. Shaq's confidence in the preconstruction market and the Downtown Miami condo market in general may be just what the area needs to take that next step to being a global city. Preconstruction is just the beginning in this case but the concepts that were formed in the minds of the developers that are not that much closer to reality are the true story of preconstruction.
The O'Neal Group will have an undisclosed interest in the new development in addition to the purchase of a unit and the leasing of 45,000 square for a 24 Hour Fitness gym, that Shaq is also a partner in. The O'Neal Group has been looking all over the country for the perfect place to invest and according to Shaq, the best place they found was in their own backyard. This is a major vote of confidence in market that has been clouded with doomsayers for the last several months. Shaq's confidence in the preconstruction market and the Downtown Miami condo market in general may be just what the area needs to take that next step to being a global city. Preconstruction is just the beginning in this case but the concepts that were formed in the minds of the developers that are not that much closer to reality are the true story of preconstruction.
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