July 28, 2010
400-KEY SEVILLE HOTEL SELLS FOR $57.5 MILLION IN MIAMI
MIAMI — Lionstone Group has completed the disposition of Seville Hotel, which is located in Miami's South Beach. Marriott and hotelier Ian Schrager acquired the 400-key hotel for $57.5 million. Phillip Hudson III, a partner with Arnstein & Lehr, lead negotiations on behalf of the Lionstone Group regarding the underlying loan with FirstBank Puerto Rico. The previous owner of the hotel was 2901 Beach Ventures, which consisted of two equal partners, Lionstone Group and Fortune International Management. The buyers plan to redevelop the 12-story property into an new boutique hotel.
$1 MILLION, 11,284-SQUARE-FOOT RENOVATION UNDER WAY IN NEW SMYRNA BEACH
NEW SMYRNA BEACH, FLA. — Orlando-based Roger Kennedy Inc. is renovating the Bert Fish Business Center in New Smyrna Beach for Bert Fish Medical Center. The $1 million, 11,284-square-foot project is located at 401 S. Dixie Freeway. The former bank building will serve as office space for hospital administrative employees. Completion is slated for November.
ADECCO GROUP INKS 78,292-SQUARE-FOOT LEASE IN JACKSONVILLE
Adecco Group North America has leased 78,292-square-foot of office space at Deerwood South business park in Jacksonville, Fla. JACKSONVILLE, FLA. — Adecco Group North America has signed a long-term lease for office space at Deerwood South business park, which is located at 10151 Deerwood Park Blvd. in Jacksonville. Adecco is leasing 78,292 square feet at the park, which is owned by Flagler. Jim Sebesta of Grubb & Ellis/Phoenix Realty Group represented Adecco; Gary Cox provided in-house representation for Flagler in the transaction. Terms of the lease were not disclosed.