Friday, July 18, 2025
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Hillsboro Center
FloridaLeasing ActivityLife SciencesOfficeSoutheast

JLL Arranges 25,000 SF Lease Expansion, Relocation in South Florida for Life Sciences Firm

by Julia Sanders

DEERFIELD BEACH, FLA. — JLL has arranged a 25,000-square-foot lease expansion and relocation in South Florida on behalf of DNA Labs International, a private forensic DNA lab. The lab company’s new corporate headquarters will take up the entirety of Building 3 at Hillsboro Center located at 700 W. Hillsboro Blvd. in Deerfield Beach. Ryan Nunes of JLL represented DNA Labs in the office expansion. Joe Freitas and John Criddle of Cushman & Wakefield represented the Boca Raton, Fla.-based landlord, Grover Corlew, in the lease negotiations. DNA Labs International was founded in 2004 in Deerfield Beach and is a family-run business, specializing in forensic DNA analysis for law enforcement agencies, government forensic labs and attorneys involved in the criminal law practice. Hillsboro Center includes more than 216,000 square feet of space and offers immediate access to Interstate 95. The building features an onsite cafe and restaurant options, banks, hotels and other amenities in the surrounding area.

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The Trails
Affordable HousingFloridaLoansMultifamilySoutheast

Centennial Bank Provides $12.5M Construction Loan for Workforce Housing Project in Miami

by Julia Sanders

MIAMI — Centennial Bank has provided a $12.5 million construction loan to Prestige Cos. and Florida Value Partners for Trails, a workforce housing project located on the Ludlam Trail at 1040 SW 70th Ave. in Miami. The project’s first phase will consist of two- to three-story garden-style buildings with 84 residential units ranging from one- to two-bedroom units listed from $1,600 to $1,800 per month. The second phase of the project, which will be initiated within six months, will deliver five three-story buildings and a total of 230 units ranging from one- to two-bedroom units listed from $1,700 to $1,900 per month. The workforce housing property will be developed with no government funding. Community amenities will include an outdoor workout area and a dog park. In addition, the property will have access to the Ludlam Trail, a 6.2-mile linear park. Renovations for the Ludlam Trail will turn the former Florida East Coast railway corridor into a park, as well as a running and cycling trail that will connect to The Underline, a 10-mile linear park under the Metrotrail.

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The Press
DevelopmentFloridaLoansMixed-UseSoutheast

Tricera Capital Obtains $50.8M Loan for Adaptive Reuse Development in West Palm Beach

by Julia Sanders

WEST PALM BEACH, FLA. — Tricera Capital, a Miami-based real estate investment firm led by Ben Mandell and Scott Sherman, has obtained a $50.8 million loan for The Press, a mixed-use project in West Palm Beach. The transaction refinances an existing loan and provides Tricera with the necessary funding to complete the redevelopment of the Palm Beach Post campus. Jason Krane and Simon Ziff of Ackman-Ziff Real Estate Group arranged the financing on behalf of Tricera through Chicago-based Monroe Capital LLC. Law firm Polsinelli served as Tricera’s legal representative for the transaction. Located on more than 11 acres at 2751 S. Dixie Highway, The Press is an adaptive reuse project in which nearly all existing structures are being preserved. The property includes a 125,000-square-foot retail component known as the Shops at the Press and an adjacent 140,000-square-foot office building branded as Workspaces at the Press. Tricera finalized a long-term lease with Joseph’s Classic Market to anchor Shops at the Press, and the company expects to deliver the Joseph’s space by summer 2022. Joseph’s, a family-owned Italian specialty market founded in 2005, is leasing more than 15,000 square feet. Tricera also completed a lease with retailer Tipsy Salonbar, a South Florida-based …

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AC Hotel
DevelopmentFloridaHospitalitySoutheast

Norwich Partners Opens 174-Room AC Hotel at Sawgrass Mills in Sunrise, Florida

by Julia Sanders

SUNRISE, FLA. — Norwich Partners has opened the eight-story, 174-room AC Hotel Fort Lauderdale Sawgrass Mills/Sunrise in Sunrise. The hotel is located on the grounds of Sawgrass Mills, an outlet and value-oriented shopping mall. Global design firm Stantec served as the project’s architect and structural mechanical, electrical and plumbing engineer of record, working alongside interior design firm Group One Partners. The AC Hotel Fort Lauderdale Sawgrass Mills/Sunrise is located at 1870 Sawgrass Mills Circle. The hotel property is 36 miles from Miami Beach and 17 miles from Fort Lauderdale. The hotel lobby includes an AC Lounge featuring a communal space with a bar serving local beers and cocktails, as well as an outside terrace. The hotel’s amenities also include a rooftop deck with bar, lounge, cascading water fountain and 24-hour fitness center. Other hotel amenities include an art gallery featuring the works of local artists, a digital library, the AC Kitchen restaurant and 1,675 square feet of indoor and outdoor meeting space.

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Soleste
AcquisitionsFloridaMultifamilySoutheastTop Stories

Estate Cos. Sells Newly Built, Luxury Apartment Community in West Miami for $97M

by Julia Sanders

MIAMI — The Estate Cos. (EIG), a private developer of multifamily properties, has sold Soleste Twenty2 in west Miami for $97 million. The locally based developer completed the eight-story luxury apartment community in February 2020. An entity doing business as Westdale Twenty2 LLC purchased the 338-unit community. The buyer is an affiliate of Westdale Real Estate Investment Management, according to South Florida Business Journal. “This transaction stabilized during the difficult times of COVID-19, which further affirms the solid fundamentals of our business plan and our ability to perform for our investors,” says Robert Suris, managing principal at The Estate Cos. “We are glad Westdale will own and capture the value of this amazing asset moving forward.” Located at 2201 Ludlam Road, Soleste Twenty2 is situated 9.1 miles south of Miami International Airport and 17 miles west of South Beach. The property was approximately 95 percent occupied at the time of sale. Soleste Twenty2 features studios, one-, two- and three-bedroom units with stainless steel appliance packages, porcelain floors and designer-tiled bathrooms. Rents range from the $1,500s for studio apartments to the $2,600s for three-bedroom units. Community amenities include a pool deck with spa and private cabanas, relaxation lounge with saunas, athletic …

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War Memorial
DevelopmentFloridaMixed-UseSoutheast

Florida Panthers Invests $65M to Redevelop Fort Lauderdale Auditorium for New Practice Facility, Entertainment Center

by Julia Sanders

FORT LAUDERDALE, FLA. — The Florida Panthers, the NHL club based in South Florida, plans to redevelop the War Memorial Auditorium in Fort Lauderdale into a new practice facility and entertainment center. The 144,000-square-foot project is slated for completion in summer 2022. Originally announced in April 2019, the Panthers privately financed $65 million for the War Memorial Auditorium revitalization, which was created through a public-private partnership with the City of Fort Lauderdale. The Florida Panthers plan to restore the facility through an adaptive reuse of its existing structure. The revitalized Florida Panthers Fort Lauderdale War Memorial Auditorium will feature two regulation-sized indoor ice rinks (including one available for public use), a practice facility and a ballroom-style concert and performance venue that can accommodate up to 3,800 people. The Panthers practice rink, which will primarily be used for community ice programming, will also feature stadium seating for up to 1,000 fans during practices and training camps. The facility will also be home to the Florida Panthers Foundation’s Youth Hockey Scholarship program that will launch this spring in partnership with the Boys & Girls Club of Broward County. Additional project components include a sit-down indoor and outdoor restaurant, new community fitness and …

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Goodtime Hotel
DevelopmentFloridaHospitalitySoutheast

Groot Hospitality, Partners Open Goodtime Hotel on South Beach in Miami Beach

by Julia Sanders

MIAMI BEACH, FLA. — The Goodtime Hotel, the first collaborative lifestyle hotel brand from David Grutman of Groot Hospitality and Pharrell Williams, has opened on South Beach’s Washington Avenue and 6th Street in Miami Beach. Grutman and Williams worked alongside the real estate developers Michael Fascitelli and Eric Birnbaum of Imperial Cos. to build the hotel. Morris Adjmi was the architect, Ken Fulk was the interior designer and Raymond Jungles was the landscape architect. The Goodtime Hotel has 266 rooms that range from individual queen bed accommodations to a handful of suites. Many rooms hold direct views east to the Atlantic Ocean or west to Biscayne Bay. Each of Goodtime’s guest rooms feature custom bedding, blackout drapes, benches, bath amenities and a pink rotary dial phone. The hotel also has dining options such as Grutman’s Strawberry Moon, a restaurant and 30,000-square-foot pool club. Also, Goodtime has 45,000 square feet of ground-floor retail, a gym and library. The hotel opens for guest stays starting this month.

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Universal project
Affordable HousingDevelopmentFloridaMultifamilySoutheast

Universal Selects Wendover Housing as Development Partner for Affordable Housing Project in Orlando

by Julia Sanders

ORLANDO, FLA. — Universal Parks & Resorts has selected Wendover Housing Partners to design, build and manage an affordable housing community planned in Orlando. The project will be situated near the International Drive corridor, an area identified as high priority by Orange County’s Housing for All Task Force. Universal Creative, a division within Universal Parks & Resorts, will work with Wendover Housing on the overall plan for the new community. A Universal selection committee chose Wendover Housing from five finalists whittled down from 17 developers that submitted initial proposals. Wendover Housing, based in nearby Altamonte Springs, Fla., will help with creating Universal’s vision for affordable housing on the 20-acre site. The community will include 1,000 apartments, as well as 16,000 square feet of retail space. The development will have at least 75 percent of its apartments be dedicated to affordable housing. Construction is expected to begin in late 2022. Ownership of the site has been transferred from Universal to a not-for-profit established by the company called Housing for Tomorrow whose role is to oversee the initiative. The organization will retain ownership of the site and serve as master developer, entering into a 55-year ground lease with Wendover Housing. Housing for …

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AcquisitionsFloridaLoansOfficeSoutheast

Ready Capital Closes $30.1M Acquisition Financing for Office Property in Tampa

by Julia Sanders

TAMPA, FLA. — Ready Capital has closed a $30.1 million loan for the acquisition, renovation and lease-up of an approximately 250,000-square-foot, Class B office property in Tampa. Upon acquisition, the sponsor will implement a capital improvement plan to upgrade the property and subsequently lease-up to market occupancy and at market rents. The name of the borrower and property were not disclosed. The non-recourse, interest-only loan features a 36-month term, floating interest rate, two extension options and is inclusive of a facility to provide future funding for capital expenditures and tenant leasing costs. Planned property improvements include new signage, HVAC upgrades, curb replacements and the buildout of rent-ready speculative suites.

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DevelopmentFloridaMultifamilySoutheast

Balfour Beatty, Related Group Break Ground on Two-Tower Residential Project in West Palm Beach

by Julia Sanders

WEST PALM BEACH, FLA. — Balfour Beatty has broken ground on Icon Marina Village, a two-tower, 24-story residential development in West Palm Beach. Related Group is the developer of the project, which will be located close to the Intracoastal Waterway, Atlantic Ocean, Palm Beach Island and downtown West Palm Beach. Balfour Beatty and Related Group plan to deliver Icon Marina Village in 2023. Designed by Miami-based Arquitectonica, Icon Marina Village will feature two high-rise towers that will accommodate 399 residential units, offering one-, two- and three-bedroom units. The development will include a rooftop with adjoining garage, semi-private beach club with day dock and sand beach, a heated European-edge swimming pool, business lounge, fire pit and outdoor kitchen, a spa with a sauna and more. Each apartment will feature stainless steel appliances, quartz countertops, backsplashes, Italian cabinetry and Wi-Fi. Each waterfront unit comes with floor-to-ceiling windows, high ceilings and balconies. At least two of the penthouse units will also feature their own private rooftop pools. Icon Marina Village represents the first phase of a 19 plus-acre integrated master development in partnership with Rybovich at the site of its Superyacht Marina.

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