GAINESVILLE, FLA. — Concept Cos., in partnership with Gateway Development Services and Harvest Capital Group, has broken ground on 800 Second at Innovation Square, a 55,000-square-foot office building located adjacent to the University of Florida in Gainesville. The first floor of the building will include a bistro and coffee shop, as well as a work studio with a variety of spaces, including individual office suites, co-working/shared offices and conference rooms. The top three floors will contain office space. The building will be part of Innovation Square, a 25-acre mixed-use project that will support the technology and research ventures of the University of Florida and the greater Gainesville community. The project is being developed in a public-private partnership. 800 Second is slated for completion in the third quarter of 2018.
PALM BEACH GARDENS, FLA. — HFF has arranged the $25 million sale of LA Fitness Plaza, a 105,453-square-foot fitness- and food-anchored shopping center in the South Florida city of Palm Beach Gardens. Daniel Finkle, Luis Castillo, Eric Williams and Kim Flores of HFF represented the seller, an institutional investor of Barings Real Estate Advisers. Fondo Atlas acquired the retail center. Located at 7100 Fairway Drive, LA Fitness Plaza is situated near the entrance of the PGA National Resort & Spa.
HIALEAH, FLA. — Warehomes Precisions LLC, an affiliate of Rok Acquisitions, has acquired a 150,000-square-foot industrial building in Hialeah for $8.8 million. The property is located at 15801 N.W. 49th Ave. in the Palmetto Lakes submarket, roughly 16 miles northwest of downtown Miami. Lee Katsikos of The Katsikos Group represented the seller in the transaction, Precision Trading Corp. Ted Konigsberg of Infinity Commercial Real Estate represented Warehomes Precisions. The building features a divisible configuration and IU-2 zoning, allowing for a number of manufacturing and technology uses outside of basic logistics and warehousing.
TAMPA, FLA. — Federal Capital Partners (FCP) has acquired The Commons Apartments, a 200-unit multifamily community in Tampa, for $24.1 million. Matt Mitchell and Zach Nolan of HFF represented the undisclosed seller in the transaction. HFF’s Elliott Throne and Preston Reid secured acquisition financing on behalf of FCP. Located off Dale Mabry Highway, The Commons offers two-, three- and four-bedroom units. Community amenities include a barbeque and picnic area, playground, dog park, clubhouse and a swimming pool. FCP will use the financing to implement a capital improvement program, including converting the leasing office into a gym and adding washers and dryers to individual units.
FORT LAUDERDALE, FLA. — The Fort Lauderdale City Commission has approved Ocean Land Investments’ proposed Riverwalk Residences of Las Olas project in Fort Lauderdale. The seniors housing community will offer 401 units of independent living, assisted living and memory care. Borges Architects + Associates designed the 42-story tower that will be Fort Lauderdale’s tallest building once completed. Amenities will include restaurants, a rooftop bar, full-service spa, fitness center, virtual sport rooms, theater, outdoor pool, hotel rooms, on-site doctor’s offices and valet parking. The project will also feature a ground-level gourmet market that will be open to the public. The property is located near downtown Fort Lauderdale’s Riverwalk, museums, the Broward Center for the Performing Arts, shopping and dining. Ocean Land Investments specializes in the development of prime waterfront properties.
MIRAMAR, FLA. — Pollack Shores Real Estate Group has acquired Solano at Miramar, a 512-unit apartment community in the South Florida city of Miramar. South Florida Business Journal reports the Atlanta-based firm acquired the asset from TPF Equity REIT for $119.8 million. Constructed in 2008, Solano at Miramar comprises 364 apartment units and 148 townhomes that range in size from 823 to 1,677 square feet, with rents ranging from $1,961 to $3,185 per month. Community amenities include a resort-style pool with a sundeck, business center and a lakeside jogging trail. Pollack Shores will implement capital improvements including new granite countertops, vinyl plank wood flooring, white shaker cabinets and new plumbing and light fixtures. Amenity enhancements will include a full renovation to the clubhouse, conversion of an indoor basketball court into a fitness center and the addition of an outdoor lounge to the pool area. ARA Newmark brokered the transaction. Matrix Residential, a subsidiary of Pollack Shores, will manage the property.
COCONUT CREEK AND SARASOTA, FLA. — Berkadia has arranged $98.9 million in financing for the purchase of two multifamily assets in Florida. Advenir, a South Florida-based real estate investment company, purchased both communities from Wood Partners, an Atlanta-based multifamily developer and investor. Charles Foschini and Christopher Apone of Berkadia arranged a $52.3 million loan for Crown Pointe, a 360-unit multifamily community in Coconut Creek, as well as a $46.6 million loan for Gateway Lakes, a 358-unit apartment community in Sarasota. Both Freddie Mac loans feature seven-year terms, three years of interest-only payments and a loan-to-value ratio of 80 percent. Constructed in 1986, Crown Pointe features a clubhouse, fitness center, two pools with a spa and a 626-seat performing arts center. Gateway Lakes, constructed in 1996, features a newly redesigned clubhouse, fitness center and a pool area with a sundeck.
MIAMI — NayaUmi LLC has purchased Lennar Corporate Center, a four-building office complex in Miami, for $40 million. NayaUmi is a partnership between Naya USA LLC, led by Yoav Merary, and Coast Capital Partners LLC, led by Guy Sharon. Hermen Rodriguez, Ike Ojala and Tracey Goo of HFF represented the seller, Colony Realty Partners, and procured the buyer. Christopher Apone and Charles Foschini of Berkadia arranged a 10-year, $28.6 million loan through a CMBS lender on behalf of the buyer. The loan features partial interest-only payments and a 72 percent loan to value ratio. Located at 700, 730, 760 and 790 N.W. 107 Ave., Lennar Corporate Center was originally built by Lennar Corp. and has served as the title insurance company’s headquarters since 1982. The property was 63 percent leased at the time of sale to tenants affiliated with Lennar, including Rialto Capital Management, Eagle Home Mortgage and North American Title Co.
TAMPA, FLA. — HFF has arranged the sale of a 36,900-square-foot building fully leased to Whole Foods Market in Tampa. Constructed in 2012, the building is situated on 6.3 acres in Tampa’s Carrollwood community. Daniel Finkle, Luis Castillo and Eric Williams of HFF represented the seller, Weingarten Realty Investors, in the transaction. The sales price and buyer were not disclosed.
CHARLOTTE, N.C. AND ORLANDO, FLA. — GCP has acquired a 1.2 million-square-foot industrial portfolio in Charlotte and Orlando for $74 million. The portfolio includes two warehouses within Legacy Park West in Charlotte: a 126,000-square-foot facility fully leased to Elite Logistics and a recently completed, 432,000-square-foot building. Avison Young will handle the new building’s leasing efforts. The portfolio also includes Lake County Distribution Center, a 706,722-square-foot property in Orlando that is fully leased to Samsung SDS America and Niagara Bottling. The facility serves as Samsung’s new Southeast distribution center and as Niagara’s distribution hub that services its bottling facility less than a mile away.