PORT ST. LUCIE, FLA. — NKF Capital Markets has arranged the $10.8 million sale of an office building located at 300 N.W. Peacock Blvd. in Port St. Lucie, a city in South Florida’s St. Lucie County. The two-story, 51,527-square-foot building is fully leased to healthcare company McKesson, also known as Change Healthcare. Michael Lohmann, Michael Lapointe, Adam Greenberg and Scott Gordon of NKF Capital Markets arranged the transaction on behalf of the seller, PSL Advanced LLC. An undisclosed buyer acquired the asset through a 1031 exchange
JACKSONVILLE, FLA. — Baltimore-based development firm The Cordish Cos. has been selected to co-develop a $2.5 billion mixed-use village surrounding EverBank Field, home of the National Football League’s Jacksonville Jaguars. The NFL franchise, in conjunction with Iguana Investments, a company controlled by Jaguars owner Shad Khan, will work with Cordish to develop the more than 4 million-square-foot project, located steps from the stadium, Daily’s Place amphitheater, Veterans Memorial Arena and the Baseball Grounds of Jacksonville. Architecture firm Beyer Blinder Belle is designing the development, which will feature dining, entertainment, retail, office, hotels and residential units. A construction timeline was not disclosed. The Cordish Cos. has partnered with leading professional sports franchises and media companies including the St. Louis Cardinals, FOX Sports, Philadelphia Flyers, NBC Sports and the Texas Rangers. The Jacksonville project hinges on approval from environmental regulators, according to local media reports. The brownfield site slated for development was previously used by shipyards and tank farms, and would require a cleanup of petroleum-contaminated soil beneath the pavement.
CELEBRATION, FLA. — Delray Beach, Fla.-based Big Rock Partners has opened Windsor at Celebration, a 239-unit seniors housing community in Celebration, the Disney-originated master-planned community in Central Florida. Windsor at Celebration features a mix of independent living, assisted living and memory care units. Community amenities include dining venues, a theater, rooftop bar, indoor aquatic center, fitness center, salon, spa and entertainment and leisure programs. Life Care Services, an LCS Company, is managing the community. Balfour Beatty was the project’s general contractor, and Gensler was the architect. Walker & Dunlop arranged a $41 million construction loan through Bank of the Ozarks for the project.
TAMPA, FLA. — Strategic Property Partners (SPP) has broken ground on the 519-room JW Marriott Tampa hotel within its planned Water Street Tampa development. The $3 billion mixed-use project is a multi-phase, 50-acre development that at full build-out will include more than 9 million square feet of commercial, residential, hospitality, educational, entertainment, cultural and retail space. JW Marriott Tampa represents the first of 10 buildings that SPP plans to begin building over the next year. Designed by Florida-based architecture firm Nichols Brosch Wurst Wolfe & Associates, JW Marriott Tampa will feature 100,000 square feet of meeting and event space, including the largest hotel ballroom in Tampa Bay at approximately 30,000 square feet. The hotel will also feature a full-service spa and fitness center, pool and sun terrace, ground-floor restaurant with indoor and outdoor seating and a rooftop lounge and terrace on the 26th floor. The hotel is located adjacent to the Tampa Convention Center and Amalie Arena, home to the National Hockey League’s Tampa Bay Lightning, which is owned by SPP head Jeff Vinik. JW Marriott Tampa will be one of three hotels within the Water Street Tampa development. Earlier this month, SPP unveiled plans to develop the 173-room EDITION …
PLANT CITY, FLA. — Cushman & Wakefield has brokered the $35.7 million sale of Plantation at Walden Lake, a 352-unit apartment community located at 1400 Plantation Blvd. in Plant City, roughly 25 miles east of Tampa. Luis Elorza, Brad Capas and Robert Given of Cushman & Wakefield arranged the transaction on behalf of the seller, Mercury Investment. Bridge Investment Group acquired the 23-building property, which was 95 percent leased at the time of sale. Plantation at Walden Lake was constructed in phases from 1990 to 1994 and includes a mix of one-, two- and three-bedroom apartments. Community amenities include a swimming pool, fitness center, dog park, playground and a picnic and barbecue area.
JACKSONVILLE, FLA. — Colliers International has arranged the $5.3 million sale of Village Commons, a 12,001-square-foot retail center located at 4490 and 4492 Southside Blvd. in Jacksonville. The seller, Rimrock Southside LLC, developed the property last year. Colliers International arranged the 1031 exchange on behalf of the buyers, Bronx Wendy’s SCH LLC and Southside RMR LLC. Village Commons is home to tenants such as AT&T, Pet Supermarket, First Watch and Wells Fargo.
ORLANDO, FLA. — Exeter Property Group has broken ground on a 561,750-square-foot distribution center located at 9775 Air Commerce Parkway in Orlando. Situated adjacent to Orlando International Airport, the speculative building will feature 36-foot clear heights, 535-foot building depth, cross dock configuration, an ESFR sprinkler system, 185-foot truck court, 60-foot concrete truck apron, storage spaces for 112 trailers, 312 auto parking spaces and spec office space. GMA Architects designed the building, which is situated within the 230-acre Air CommercePark. Tampa-based ARCO Murray is the general contractor for the project, and Orlando-based Florida Engineering Group is the project’s civil engineer. Exeter expects to wrap up construction on the facility in February 2019.
PALM COAST, FLA. — Matthews Real Estate Investment Services has arranged the $10.6 million sale of Old Kings Commons, an 84,759-square-foot shopping center in Palm Coast. Jordan Powell and Scott Henard of Matthews arranged the transaction on behalf of the buyer, a private family office based in South Florida. Jacksonville-based Regency Centers sold the asset. Beall’s Outlet and Staples anchor Old Kings Commons, and other tenants include Planet Fitness, Pinch-A-Penney and Dunkin’ Donuts/Baskin-Robbins.
ORLANDO, FLA. — NAI Realvest has brokered the $7.9 million sale of a 36,426-square-foot office building located at 622 E. Washington St. in Orlando. Jeff Bloom of NAI Realvest arranged the transaction on behalf of the buyer, OM Star Properties LLC, d/b/a Orchid Medical Equipment Co. The company will occupy 50 percent of the building for its new headquarters. John Worrell of Cite Partners arranged the transaction on behalf of the seller, ThorntonPark Central LLC. The sale also included a 134,681-square-foot parking garage.
BATON ROUGE, LA. AND DAYTONA BEACH, FLA. — KeyBank Real Estate Capital has provided $37.5 million in Freddie Mac loans for the refinancing of two student housing properties located in Baton Rouge and Daytona Beach. Trevor Ritter of KeyBank originated a $21.7 million, floating-rate loan for Oakbrook Apartments, a 240-unit student housing community near Louisiana State University in Baton Rouge. The community was constructed in 1983 and renovated in 2017. In Daytona Beach, Ritter originated a $15.8 million, floating-rate loan for the first phase of Eagle Landing Apartments. The 144-unit community serves students attending Bethune Cookman University, Daytona State College and Embry-Riddle Aeronautical University. The community is the first phase of a three-phase development and was built in 2015. The property’s second phase was built in 2016. The third phase is currently under construction, and is expected to be completed in time for the fall 2018 semester. The names of the borrowers were not disclosed.