Florida

Franklin Street Brokers $7M Sale of Apartment Community in Central Florida

by John Nelson April 26, 2016

WINTER SPRINGS, FLA. — Franklin Street has arranged the $7 million sale of Tuskawilla Park Apartments, a 41-unit apartment complex located at 154 Tuskawilla Road in Winter Springs, roughly 15 miles north of Orlando. Originally built as a condominium development in 2009, the apartment complex features elevators and 6,377 square feet of ground-floor commercial space that is fully leased by two local engineering firms and the Florida Department of Motor Vehicles. Darron Kattan, Kevin Kelleher, Zachary Ames and Robert Goldfinger of Franklin Street represented the seller, California-based Pathfinder Landology ISIS Holdings LLC, and the buyer, Virginia-based CIG Tuskawilla Park LLC, in the transaction.

April 26, 2016

Florida Restaurant Retail Southeast

Italian Food Hall Concept to Open at Brickell City Centre in Miami

by John Nelson April 25, 2016

MIAMI — Swire Properties Inc. and its retail co-developers Whitman Family Development and Simon Property Group have inked a lease for a 38,000-square-foot Italian indoor food hall concept at Brickell City Centre in Miami’s Brickell district. The three-level dining space and market will anchor the 500,000-square-foot open-air shopping center at the 5.4 million-square-foot development. The food hall will offer several eateries, market fare such as produce and artisanal cheeses, gifts, live cooking demonstrations, cooking classes with Italian chefs and educational programming on wine pairings and other topics. Other dining and entertainment retailers already signed on at Brickell City Centre include Cinemex, Pubbelly Sushi, Pasion del Cielo, Quinto La Huella and Sugar, a rooftop bar that will be situated at the Brickell City Centre’s upscale hotel — EAST, Miami.

April 25, 2016

Florida Loans Retail Southeast

Equicap Arranges $18M Acquisition Loan for Shopping Center in Jacksonville

by John Nelson April 25, 2016

JACKSONVILLE, FLA. — Equicap, a real estate investment advisory firm based in New York, has arranged an $18 million acquisition loan for a 155,899-square-foot shopping center in Jacksonville. The center’s tenant roster includes Publix, H&R Block and Planet Fitness. Daniel Hilpert of Equicap arranged the seven-year, non-recourse loan with a fixed 3.54 percent interest rate through an unnamed regional lender.

April 25, 2016

Florida Industrial Southeast

Cite Partners Brokers $14M Sale of 199,100 SF Industrial Facility in Orlando

by John Nelson April 25, 2016

ORLANDO, FLA. — Cite Partners has brokered the $14 million sale of a 199,100-square-foot industrial facility located at 4473 Shader Road in northwest Orlando. First Industrial Realty Trust Inc., a Chicago-based REIT, purchased the asset from Panattoni Development Corp. LLC. Wilson McDowell, Matt Sullivan and Bobby Isola of Cite Partners LLC represented Panattoni in the transaction, and Rich Cavano of Cavano Realty LLC represented First Industrial. The deal is the largest industrial sale in Orlando by square footage and dollar amount so far this year.

April 25, 2016

Florida Multifamily Southeast

Marcus & Millichap Arranges $11.6M Sale of Apartment Complex in Florida

by John Nelson April 25, 2016

LAKE CITY, FLA. — Marcus & Millichap has arranged the $11.6 million sale of The Grove Apartments, a 200-unit apartment community located at 384 S.W. Dexter Circle in Lake City. The multifamily property was roughly 75 percent occupied at the time of sale. The community features all two-bedroom, 750-square-foot units with full-size washer and dryer connections, tankless water heaters and garbage disposals. Community amenities include gated access, a swimming pool with a paved sundeck and a children’s playground. Michael Donaldson and Nicholas Meoli of Marcus & Millichap’s Tampa office represented the seller and procured the buyer in the transaction.

April 25, 2016

Homewood Suites Cape Canaveral-Cocoa Beach

Florida Hospitality Southeast

Homewood Suites by Hilton Opens First Hotel in Cocoa Beach

by John Nelson April 22, 2016

COCOA BEACH, FLA. — Hilton Worldwide has opened Homewood Suites by Hilton Cape Canaveral-Cocoa Beach, a 153-room hotel in Cocoa Beach. The new property is the brand’s first hotel in the market. Located at 9000 Astronaut Blvd., Homewood Suites Cape Canaveral-Cocoa Beach is near the Kennedy Space Center, Ron Jon Surf Shop, Port Canaveral shops and restaurants and the Cocoa Beach Pier. Sunbelt Hospitality is the hotel’s developer and owner. The hotel features an outdoor pool, fitness center, complimentary breakfast, an evening social Monday-Thursday, Wi-Fi and grocery shopping services.

April 22, 2016

Florida Industrial Southeast

Coca-Cola Beverages Florida to Acquire Four Production Facilities from The Coca-Cola Co.

by John Nelson April 21, 2016

TAMPA, FLA. — Coca-Cola Beverages Florida, an independent Coca-Cola bottler based in Tampa, has signed a letter of intent with The Coca-Cola Co. to acquire four production facilities in Hollywood, Jacksonville, Orlando and Tampa for an undisclosed price. The proposed acquisitions will give Coca-Cola Florida the ability to fully manage the production of Coca-Cola products that it currently distributes for Florida customers and consumers. In December 2015, Coca-Cola Florida signed letters of intent to acquire The Coca-Cola Co.’s sales and distribution operations in North and South Florida. The proposed acquisitions are subject to the parties reaching a definitive agreement, with closing for the North Florida operations expected in 2016 and closing for the South Florida operations expected in 2017. Coca-Cola Florida currently operates in Central Florida with seven sales and distribution locations in Tampa, Lakeland, Sarasota, Fort Myers, Fort Pierce, Sebring and Spring Hill. Following the completion of the North and South Florida territory expansions, Coca-Cola Florida’s operations will encompass 16 sales and distribution centers throughout Florida.

April 21, 2016

Florida Loans Multifamily Retail Seniors Housing Southeast

NorthMarq Capital Secures $40.7M in Financing for Three Properties in Florida

by John Nelson April 21, 2016

TAMPA, FLA. — NorthMarq Capital has arranged $40.7 million in financing for a seniors housing property, apartment community and a shopping center in Florida. The properties include Twin Creeks Assisted Living, a 96-bed seniors housing property under construction in Riverview; Lakehouse Luxury Apartments, a 125-unit apartment property located at 3003 S. Frontage Road in Plant City; and Publix at Summerfield Crossings, a 69,917-square-foot shopping center located at 13146 U.S. Highway 301 South in Riverview. Robert Hernandez of NorthMarq Capital’s Tampa office arranged the loans. The financing included a three-year, $14.2 million, interest-only construction loan for the Twin Creeks property on behalf of the borrower, Lithia Assisted Living LLC; a 10-year, $12.5 million, Fannie Mae loan with a 30-year amortization schedule for the refinancing of Lakehouse Luxury Apartments on behalf of Lakeside Gardens of Plant City LLC; and a 10-year, $14 million loan with a 30-year amortization schedule for the refinancing of Publix at Summerfield Crossings on behalf of the borrower, Big Bend Group LLC.

April 21, 2016

Airport North Logistics Park Medley Miami

Florida Industrial Southeast

Cushman & Wakefield Arranges 105,920 SF Lease in Metro Miami

by John Nelson April 21, 2016

MEDLEY, FLA. — Cushman & Wakefield has arranged a 105,920-square-foot lease for space at Airport North Logistics Park, a 900,000-square-foot, Class A industrial complex currently under construction in Medley, part of Miami’s Airport North industrial submarket. The industrial park is situated on 45 acres at 8502 N.W. 80th St. The tenant, Neutralogistics Distribution LLC, signed the five-year lease for space in Building One, which will feature a 120-foot concrete truck court, 34-foot clear heights, 57 overhead doors, two ramps, 60-foot staging bay, an ESFR sprinkler system, 227 parking spaces and T-5 lighting. Wayne Ramoski and Gian Rodriguez of Cushman & Wakefield represented the landlord, Airport North Industrial Inc., in the lease deal. Juan Ruiz of Blanca Commercial Real Estate represented the tenant.

April 21, 2016

Florida Mixed-Use Southeast

Clarion Partners Purchases The Lincoln in Miami Beach from HQ Capital Partners for $109M

by John Nelson April 20, 2016

MIAMI BEACH, FLA. — Clarion Partners has purchased the leasehold interest in The Lincoln, a 161,824-square-foot mixed-use property in Miami Beach. HQ Capital Partners LP sold the five-story building for $109 million, according to The Real Deal. Built in 2003, the property was 94 percent leased at the time of sale to eight retailers including Pottery Barn and Williams Sonoma and 31 office tenants including Morgan Stanley and OnBoard Media. The Lincoln comprises 43,166 square feet of ground-floor retail space, 118,658 square feet of Class A office space and a 709-space parking structure. Christian Lee, Jose Lobon, Andrew Chilgren, Charles Foschini and Christopher Apone of CBRE collaborated with Stephen Rutchik and Jonathan Kingsley of Colliers International to represent HQ Capital Partners in the transaction.

April 20, 2016

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