Florida

Lincoln Property Co. Completes Industrial Facility in Miami, Secures First Two Tenants

by John Nelson November 19, 2015

MIAMI — In a joint venture with a real estate fund advised by Crow Holdings Capital Partners, Lincoln Property Co. has completed Turnpike Park, a 136,500-square-foot industrial building located in Miami. The joint venture has also secured its first two tenants. SV Orchids & Potted Supply Inc., a subsidiary of Silver Vase Inc., signed a 39,000-square-foot lease, and Southpoint Sportswear LLC signed a 24,440-square-foot lease at Turnpike Park. Americas Industrial Realty Corp. represented the ownership in both lease transactions. Turnpike Park features 52-foot by 45-foot column spacing with a 50-foot staging area, three-phase electrical power, T5 energy-efficient lighting, an ESFR fire sprinkler system and four dock doors per bay. The property also offers access to the Florida Turnpike, Palmetto Expressway, Okeechobee Road (US 27), I-75 and the Dolphin Expressway.

November 19, 2015

Florida Industrial Southeast

McCraney Property Co. Breaks Ground on 603,000 SF Spec Industrial Project in Central Florida

by John Nelson November 18, 2015

DAVENPORT, FLA. — McCraney Property Co. has begun construction on a two-building, 603,000-square-foot spec industrial development at Park27, an industrial park located at the northwest intersection of I-4 and U.S. Highway 27 in Davenport. In collaboration with Northwestern Mutual, McCraney will develop a 189,000-square-foot facility followed by a 414,000-square-foot, multi-tenant building. Park27 serves as a distribution location for Amazon, Best Buy, Ford Motor Co. and HHGregg.

November 18, 2015

Florida Loans Office Southeast

Dockerty Romer & Co. Arranges $55M Acquisition Loan for Five Office Buildings in Tampa

by John Nelson November 18, 2015

TAMPA, FLA. — Dockerty Romer & Co. has arranged a $55 million acquisition loan for five Class A office buildings within the 88-acre Highland Oaks development in Tampa. Highland Oaks is currently 96 percent leased and is situated near the I-75 and I-4 interchange. The five properties span 575,852 square feet. Craig Romer of Dockerty Romer arranged the loan through J.P. Morgan on behalf of the borrower, a global real estate investment manager.

November 18, 2015

Florida Multifamily Southeast

Doster Construction Completes $30M Multifamily Development in Jacksonville

by John Nelson November 18, 2015

JACKSONVILLE, FLA. — Doster Construction Co. has recently completed construction on 220 Riverside, a $30 million multifamily development in Jacksonville. The five-story, 294-unit property is built atop two levels of parking and features retail space and restaurants on the ground level. Community amenities include a fitness center, clubroom, internet café, rooftop courtyard with a resort-style swimming pool, an outdoor kitchen and seating niches overlooking the St. Johns River. Each unit features nine-foot ceilings, granite countertops and vinyl plank and hard tile flooring. The project team includes owner HP-MAA Riverside LLC and architect Studio 9 Architecture LLC.

November 18, 2015

Florida Retail Southeast

Crossman & Co. Arranges $3.7M Sale of Pensacola Retail Center

by John Nelson November 18, 2015

PENSACOLA, FLA. — Crossman & Co. has arranged the $3.7 million sale of the Shoppes at Milestone, a 19,700-square-foot retail strip center in Pensacola. Bruce Lyons and Brian Carolan of Crossman & Co. worked on behalf of the undisclosed seller in the transaction. Westwood Financial Corp. acquired the fully occupied center. Tenants at Shoppes at Milestone include shadow-anchor Publix, Jersey Mike’s, Hot Heads Burritos, H&R Block, Cricket Wireless, Papa Murphy’s and Enterprise Rent-a-Car.

November 18, 2015

Florida Multifamily Southeast

Crescent Communities Opens New Apartment Community in Downtown Orlando

by John Nelson November 16, 2015

ORLANDO, FLA. — Crescent Communities has opened Crescent Central Station, a new transit-oriented apartment community located immediately adjacent to a SunRail commuter train station in downtown Orlando. The 279-unit property is located at the corner of North Orange Avenue and Amelia Street and includes an extension of the Gertrude’s Walk park and trail and downtown Orlando’s only off-leash, public dog park. Other amenities include bike storage, a resort-style pool, sundeck, rooftop terrace and a two-story fitness center. Units include granite countertops, stainless steel appliances, upscale lighting fixtures and USB power outlets. Lincoln Property Co. manages Crescent Central Station. The project was financed through an equity investment from Crescent Communities and debt from Synovus Bank and Nationwide. The design team included general contractor Winter Park Construction, architect Lord Aeck Sargent and civil engineer GAI.

November 16, 2015

Florida Loans Multifamily Southeast

Meridian Capital Arranges $21M Acquisition Loan for Apartment Community in North Miami

by John Nelson November 16, 2015

NORTH MIAMI, FLA. — Meridian Capital Group has arranged a $21 million acquisition loan for Center Court Apartments, a 588-unit property located at 14797 N.E. 18th Ave. in North Miami. David Hayum and Tal Savariego of Meridian Capital’s New York City office arranged the seven-year loan through an unnamed balance sheet lender on behalf of the borrower, YMP Realty Management. The loan features a fixed interest rate of 3.98 percent and a 30-year amortization schedule.

November 16, 2015

Florida Loans Retail Southeast

Grandbridge Arranges $4.6M Loan for Grocery-Anchored Center in Florida

by John Nelson November 13, 2015

SEMINOLE, FLA. — Grandbridge Real Estate Capital has closed a $4.6 million loan secured by a Winn Dixie-anchored shopping center in Seminole. Bill Mattice and Phillip Cox of Grandbridge’s Greenville, S.C., office arranged the 10-year, interest-only loan through an unnamed CMBS lender. According to Mattice, the unnamed borrower was using a 1031 exchange as the equity to acquire the shopping center.

November 13, 2015

Florida Mixed-Use Southeast

Investment Properties Corp. Brokers $25.5M Sale of Retail, Offices in Downtown Naples

by John Nelson November 12, 2015

NAPLES, FLA. — Investment Properties Corp. has brokered the $25.5 million sale of 50,000 square feet of street-level retail and office space located at 800 and 821 5th Ave. S. in downtown Naples. Westbury International Corp. sold the assets to a subsidiary of Hendricks Commercial Properties LLC. David Stevens of Investment Properties Corp. brokered the transaction.

November 12, 2015

Florida Retail Southeast

Auction.com Arranges $21.2M Sale of Retail Center in Orlando

by John Nelson November 11, 2015

ORLANDO, FLA. — Auction.com LLC has arranged the $21.2 million sale of Vista Centre Shoppes, a 98,411-square-foot retail center located at 8462 Palm Parkway in Orlando. The center is situated on a 13.9-acre site located down the street from Disney World. Built in 1989, the shopping center was 89.4 percent leased at the time of sale. A private buyer based in South Florida purchased the property from the Atlanta-based seller. Philip Kates, Adam Sklaver and Dean Lewis of Auction.com worked with Brad Peterson and Whitaker Leonhardt of HFF’s Orlando office to sell the property. Michael Lapointe and Adam Greenberg of Newmark Grubb Knight Frank represented the buyer.

November 11, 2015

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