Florida

JLL Arranges 48,818 SF Lease Expansion for Data Center Company in Downtown Tampa

by Camren Skelton February 27, 2018

TAMPA, FLA. — JLL has arranged a 48,818-square-foot lease expansion for Equinix at Two Harbour Place, an office property located at 302 Knights Run Ave. in downtown Tampa. The California-based company develops interconnection and data center solutions, and has a physical footprint in 48 markets worldwide. Equinix will be growing from its original space of 30,164 square feet to occupy the seventh and eighth floors of Two Harbour Place. Caleb Lewis and John Heald of JLL negotiated the lease terms on behalf of Equinix, while Jim Moler and Deana Beer of JLL represented the landlord. The expansion brings Two Harbour Place to 92 percent occupancy.

February 27, 2018

Florida Multifamily Southeast Student Housing

Coastal Ridge, H. Katz Capital Buy 1,115-Bed Student Housing Asset Near University of Florida

by Camren Skelton February 26, 2018

GAINESVILLE, FLA. — A joint venture between Coastal Ridge Real Estate and H. Katz Capital has acquired Campus Lodge, a 1,115-bed student housing community located less than three miles from the University of Florida campus in Gainesville. EdR sold the property for an undisclosed price. The property, constructed in 2000, offers two-, three- and four-bedroom, fully furnished units with bed-to-bath parity and rents ranging from $1,206 to $2,052 per unit. Community amenities include a resort-style pool, fitness center, basketball court, tanning, a car wash area, picnic areas with barbecues, a computer lab and study rooms. The community is fully occupied for the 2017-2018 school year.

February 26, 2018

Florida Loans Office Southeast

CBRE Arranges $10.5M Sale, $7.1M Loan for Office Building in Metro Orlando

by Camren Skelton February 26, 2018

WINTER PARK, FLA. — CBRE has arranged the $10.5 million sale of 2699 Lee Road, an 87,226-square-foot office building in Winter Park, less than seven miles north of Orlando. Ron Rogg and Chip Wooten of CBRE arranged the transaction. At the time of sale, the building was 84 percent leased. Zac, Jim and Aaron Brumbaugh of CBRE secured a $7.1 million, 10-year loan through a life insurance company on behalf of the buyer, Owens Realty Capital. The non-recourse loan features one year of interest-only payments and a 30-year amortization schedule thereafter.

February 26, 2018

Florida Multifamily Southeast

Cushman & Wakefield Brokers $53M Sale of New Multifamily Community in Downtown Fort Lauderdale

by Camren Skelton February 23, 2018

FORT LAUDERDALE, FLA. — Cushman & Wakefield has arranged the $53 million sale of The Queue Apartments, a 191-unit multifamily community located at 817 S.E. 2nd Ave. in downtown Fort Lauderdale. Robert Given, Troy Ballard, Zachary Sackley and James Quinn of Cushman & Wakefield arranged the transaction on behalf of the seller and property developer, a joint venture between Urban Street Development and Fazio Properties. Miami-based Boardwalk Properties acquired the asset. The seven-story apartment community offers a mix of studio to three-bedroom units ranging in size from 529 to 1,275 square feet. Community amenities include a courtyard pool, Zen garden, two-story fitness center, dog park, clubroom, outdoor dining area, entertaining suite and an electric car charging station. The property was completed in 2017 and was 95 percent occupied at the time of sale. The project team includes interior designer Big Time Design Studios, general contractor Hooper Construction and architect MSA.

February 23, 2018

California Florida Hawaii Hospitality Illinois Midwest Southeast Top Stories Western

Hyatt to Sell Three-Property Hotel Portfolio for $1B

by Kristin Harlow February 23, 2018

CHICAGO — Hyatt Hotels Corp. (NYSE: H) has agreed to sell a three-property hotel portfolio to Host Hotels & Resorts Inc. (NYSE: HST) for approximately $1 billion. The transaction includes the Andaz Maui at Wailea Resort in Wailea, Hawaii, the Grand Hyatt San Francisco and the Hyatt Regency Coconut Point Resort and Spa in Bonita Springs, Fla. Hyatt will continue to manage the three hotels under long-term management agreements. The transaction is expected to close at the end of March. The 301-room Andaz Maui features a 15-acre beachfront setting, four infinity pools, 15,000 square feet of event space, five dining options, a spa and a fitness center. Featuring 668 rooms, the Grand Hyatt San Francisco includes a 24-hour fitness center, as well as restaurant, lounge and event space on the 36th floor. Located in southwest Florida, the 454-room Hyatt Regency Coconut Point features several pools, waterslides, a golf course, rock climbing wall, five restaurants and over 82,500 square feet of flexible space. The sale reflects a recently announced initiative from Hyatt to reduce real estate ownership, according to Mark Hoplamazian, president and CEO of Hyatt. Andaz Maui and Grand Hyatt San Francisco reflect a combined attributed sale value of approximately …

February 23, 2018

Florida Multifamily Southeast

Morgan, Mesirow Financial Open 309-Unit Apartment Tower in Midtown Miami

by Camren Skelton February 22, 2018

MIAMI — Houston-based developer Morgan, in conjunction with Mesirow Financial, has opened Midtown 29, a 309-unit apartment tower located at 180 N.E. 29th St. in Midtown Miami. Designed by Stantec, the community is situated at the entrance to the 645,000-square-foot The Shops at Midtown Miami. Wells Fargo provided construction financing for the 20-story project, which comprises studio to three-bedroom units, averaging 837 square feet. The seventh floor amenity deck features a resort-style swimming pool with private cabanas, an outdoor bar, grilling stations and a fitness center with a yoga/spinning studio. The development also includes 12,000 square feet of ground-floor retail and an adjacent six-story parking garage. In addition to delivering Midtown 29, Morgan plans to open the 350-unit Pearl Flagler Village in Fort Lauderdale at the end of the year.

February 22, 2018

Florida Multifamily Southeast Student Housing

Campus First Acquires 661-Bed Student Housing Community Near University of Florida

by Camren Skelton February 21, 2018

GAINESVILLE, FLA. — Campus First Student Living has acquired The Ridge, a 661-bed student housing community located less than one mile from the University of Florida campus in Gainesville. The property offers two-, four- and five-bedroom, apartment- and townhome-style units. Shared amenities include a three-room fitness center, clubhouse, study lounges, a beach entry pool, hot tub and lazy river. Planned renovations for the community — set for completion this fall — include improvements to the clubhouse and the addition of private study areas, fire pits, outdoor game areas, a yoga studio and a dog park. Ryan Lang of ARA Newmark’s Student Housing Group represented the seller in the transaction.

February 21, 2018

Florida Retail Southeast

GBT Unveils Tenant Roster, Plans for Shopping Center Redevelopment in Port Charlotte, Florida

by Camren Skelton February 21, 2018

PORT CHARLOTTE, FLA. — GBT Realty Corp. has unveiled the tenant lineup and renovation plans for Port Charlotte Marketplace, a shopping center redevelopment project in Port Charlotte, roughly 40 miles south of Sarasota. Located at Tamiami Trail/US Highway 41 and Cochran Boulevard, the nine-acre site formerly housed a vacant 108,500-square-foot Kmart. Brentwood, Tenn.-based GBT acquired the 75-year ground lease last fall. Redevelopment plans include a complete renovation of the former Kmart building with an updated façade, the addition of two small shop buildings and new signage, paving and landscape. Signed tenants include a 40,000-square-foot Burlington, a 20,000-square-foot HomeGoods and a 7,500 square foot national shoe store. The center is approximately 76 percent leased, with 15,000 square feet available. Tenants are expected to open at the development this fall. The second phase of the project will include an additional 62,000 square feet of retail and restaurant space on the parcel’s five acres.

February 21, 2018

Florida Multifamily Southeast

CBRE Brokers Sale of Newly Constructed Apartment Community Near Orlando

by Camren Skelton February 20, 2018

KISSIMMEE, FLA. — CBRE has brokered the sale of Lugano, a newly constructed, 288-unit apartment community located at 3021 Savosa Ave. in Kissimmee, roughly 20 miles south of Orlando. Shelton Granade, Luke Wickham and Justin Basquill of CBRE arranged the transaction on behalf of the seller and developer, Fore Property Co. Cortland Partners acquired the property for an undisclosed price. Constructed in 2017, the LEED Silver-certified community features a resort-style pool, 24/7 fitness center, spinning room, yoga room, clubhouse, fishing pond, dog park, car care center, business center and barbecue grills. Individual units average 1,025 square feet.

February 20, 2018

Florida Restaurant Retail Southeast Tennessee

CBL Properties Signs New Restaurants to Mall Redevelopment Projects in Florida, Tennessee

by Camren Skelton February 20, 2018

DAYTONA BEACH, FLA. AND CHATTANOOGA, TENN. — CBL Properties has signed leases with five new restaurants at shopping malls in Daytona Beach and Chattanooga. The new dining options are part of the redevelopment of two former Sears Auto Centers, which CBL acquired in 2017. Bonefish Grill, Metro Diner and The Casual Pint will join the tenant mix at Volusia Mall in Daytona Beach. Tennessee-based Aubrey’s and Panda Express will open at Northgate Mall in Chattanooga. Construction on both mall redevelopments will begin in March, with an expected opening for all five eateries this fall.

February 20, 2018

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