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AcquisitionsFloridaIndustrialSoutheast

Basis Industrial, NexPoint Acquire Lakefront Campus in Orlando for $25M

by John Nelson

ORLANDO, FLA. — Basis Industrial and NexPoint Real Estate Advisors have acquired Lakefront I and II, a multi-tenant industrial property in Orlando, for $25 million. Located at 6101, 6149, 6203 and 6251 Chancellor Drive and 6330 Emperor Drive, the property totals 192,767 square feet. Tenants at the development include CVS’ Advanced Care Scripts, Regions Bank, Rotech, U.S. Marshals and the Florida Agency for Workforce Innovation. Anthony Scavo of Basis represented the new ownership in the transaction, and Ron Rogg of CBRE represented the seller, B Group. Argentic provided 10-year acquisition financing to the buyers, which plan to invest in renovations to the property, including roof maintenance, new cameras, exterior and interior improvements, converting an office to warehouse space, rebranding and immediate repairs.

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AcquisitionsFloridaRetailSoutheast

Benderson Acquires 250,000 SF Shopping Center in Naples, Florida

by John Nelson

NAPLES, FLA. — Benderson Development has acquired Carillon Place, a 250,000-square-foot, open-air shopping center located at the intersection of Airport-Pulling and Pine Ridge roads in Naples. Tenants at the property, which was 92 percent leased at the time of sale, include T.J. Maxx, DSW and Walmart. The previous owner was an entity doing business as BRE DDR Carillon Place LLC, according to the Sarasota Herald-Tribune. The sales price was not disclosed.

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AcquisitionsFloridaMultifamilySoutheast

Milestone Group Purchases 488-Unit Axis Delray Beach Apartments in South Florida

by John Nelson

DELRAY BEACH, FLA. — The Milestone Group has purchased Axis Delray Beach, a 488-unit, garden-style apartment community located at 1495 Spring Harbor Drive in Delray Beach, a city in South Florida’s Palm Beach County. The seller and sales price were not disclosed. Milestone plans to implement a multimillion-dollar renovation to the property’s common area amenities, landscaping and exteriors. The previous owner recently made capital improvements to Axis Delray Beach’s unit interiors.

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AcquisitionsFloridaOfficeSoutheast

JLL Arranges Sale of 42-Story Office Tower in Downtown Tampa

by John Nelson

TAMPA, FLA. — JLL has arranged the sale of 100 North Tampa, a 572,111-square-foot office tower in downtown Tampa’s central business district (CBD). At 42 stories, the high-rise is the tallest building in Tampa and was 83 percent leased at the time of sale. Hermen Rodriguez, Ike Ojala, Matthew McCormack, Robbie McEwan, Blake Koletic, Max Lescano and Hunter Smith of JLL represented the seller and procured the buyer in the transaction. Both parties requested anonymity, and the sales price was not disclosed. Amenities at 100 North Tampa include concierge service, a retail bank branch with ATMs, sundry shop, fitness center, conference rooms and a parking garage with electric vehicle charging stations and car detailing. The previous owner recently executed a $21 million renovation prior to the sale. Built in 1992, the tower has achieved LEED Gold, WiredScore Platinum and ENERGY STAR certifications, according to the property website.

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AcquisitionsFloridaMultifamilySoutheast

Wingspan Development, ABC Capital Sell 192-Unit Jade at North Hyde Park Apartments in Tampa

by John Nelson

TAMPA, FLA. — Wingspan Development and ABC Capital Corp. have sold Jade at North Hyde Park, a 192-unit apartment community located at 608 N. Willow Road in Tampa’s North Hyde Park neighborhood. San Francisco-based Hamilton Zanze acquired the property, which is located approximately a half-mile from downtown near the University of Tampa, for an undisclosed price. The acquisition represents Hamilton Zanze’s entry into the Florida market. Matt Mitchell of Berkadia brokered the transaction. Built in 2022, Jade at North Hyde Park was 97 percent occupied at the time of sale. The property features studios, one-, two-, three- and four-bedroom units ranging in size from 463 to 1,421 square feet. Select units have built-in wine storage, dual-sink vanities in the primary bathroom and/or covered balconies. In addition to amenities like a pool, coworking spaces and a pet spa, Jade also features 3,200 square feet of ground-level retail space. Tango Brew, a pet-friendly coffee and wine bar, will soon open a 1,600-square-foot eatery at Jade, with plans to offer both indoor and outdoor seating for up to 66 people, including an outdoor bar and patio as well as a water and treat station for patron’s dogs.

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DevelopmentFloridaRetailSoutheast

Jacksonville City Council Approves $1.4B Renovation of EverBank Stadium, Home of NFL’s Jaguars

by John Nelson

JACKSONVILLE, FLA. — The Jacksonville City Council voted 14-1 Tuesday night to approve an agreement between the city and the NFL’s Jacksonville Jaguars for the $1.4 billion renovation of EverBank Stadium. ESPN reports that the agreement needs to be ratified by 24 of the 32 NFL owners, who will review the agreement when they convene in Atlanta in October for their annual meeting. If passed, the anticipated construction timeline of the renovation would begin at the conclusion of the Jaguars’ 2025 season and deliver before kickoff of the team’s 2028 season. The Jaguars, along with Jacksonville Mayor Donna Deegan and lead negotiator Mike Weinstein, presented the renovation agreement in mid-May. “This day has been a long time coming,” says Deegan. “I am truly grateful for the partnership with the Jaguars throughout the negotiation process, and to the City Council for passing this historic deal. Together, we are turning renderings into reality for the betterment of Jacksonville.” The Jaguars released conceptual designs for the renovated EverBank Stadium last summer. The team estimates that the economic impact of the project throughout the Jaguars’ 30-year lease will total $26 billion, with an estimated $2.4 billion in one-time economic impact during construction. The deal …

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DevelopmentFloridaLoansSelf-StorageSoutheast

Eastern Union Arranges $10.1M Construction Financing for Self-Storage Development in Davenport, Florida

by John Nelson

DAVENPORT, FLA. — Eastern Union has arranged a $10.1 million loan for the ground-up construction of a self-storage facility in Davenport, roughly 65 miles east of Tampa. Marc Tropp of Eastern Union secured the four-year loan on behalf of the undisclosed borrower. The lender was also not disclosed. Upon completion, the development will comprise 690 units across five stories, with a gross square footage of 103,020 square feet and 76,431 square feet of rentable space. Malvern, Pa.-based CubeSmart will operate the facility.

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AcquisitionsFloridaIndustrialSoutheast

McGarvey Development Sells CenterLinks Business Park in Fort Myers to EQT Exeter for $92.5M

by John Nelson

FORT MYERS, FLA. — McGarvey Development has sold CenterLinks Business Park, a 41-acre property in Fort Myers, to EQT Exeter for $92.5 million. Situated along Oriole Road west of I-75, the property features nine warehouses spanning 450,000 square feet that were leased to 40 tenants at the time of sale. CenterLinks features 100 percent dock-high flex units as well as space that can be used as office or medical office. Four years after breaking ground, McGarvey Development began receiving acquisition offers from private equity firms when the park was about 90 percent built out. A chance encounter between longtime acquaintances McGarvey president John McGarvey and Ward Fitzgerald, global CEO of EQT Exeter, led to the acquisition, which is the largest industrial sales price in the history of Southwest Florida’s Lee County, according to McGarvey.

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AcquisitionsFloridaMultifamilySoutheast

JLL Arranges Sale of 352-Unit AMLI Doral Multifamily Community in Metro Miami

by John Nelson

DORAL, FLA. — JLL Capital Markets has arranged the sale of AMLI Doral, a 352-unit multifamily community located at 11481 N.W. 41st St. in Doral, about 18 miles west of Miami. AMLI Residential sold the property to Pantzer Properties for an undisclosed price. Developed in 2013, AMLI Doral comprises nine four-story buildings with apartments in one-, two- and three-bedroom layouts that average 1,058 square feet in size. Amenities at the community include a pool, fitness center, grilling stations, business center, lounge, clubhouse, playground, electric car charging stations and bike parking. Maurice Habif, Simon Banke and Nick Lavin of JLL represented the seller in the transaction. Additionally, Jamie Leachman, Amit Kakar and Sean O’Brien of JLL secured an undisclosed amount of acquisition financing on behalf of the buyer.

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DevelopmentFloridaLoansMultifamilySoutheast

Meridian Capital Group Arranges $67.5M Construction Loan for Natura by Murbeck Multifamily Community in Gainesville, Florida

by Hayden Spiess

GAINESVILLE, FLA. — Meridian Capital Group has arranged a $67.5 million loan for the construction of Natura by Murbeck, a multifamily community that will be situated at 6224 S.W. 20th Street in Gainesville. Murbeck Investments is the borrower and developer. Greystone provided the two-year, non-recourse loan, which will transition to a permanent loan. Upon completion, the property will feature 315 apartments in one-, two- and three-bedroom layouts. Amenities at the community will include a pool, pickleball courts, gym and garages. Monthly rental rates at the property will range from $1,780 to $2,800. A construction timeline was not disclosed. 

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