BONITA SPRINGS, FLA. — Ashkenaz USA has purchased Beachway Professional Center, a 61,702-square-foot office building located on Bonita Beach Road Southwest in Bonita Springs. Rainer Filthaut of International Realty Corp. represented Ashkenaz in the $14.4 million transaction. Dave Wallace and David Wallace of CRE Consultants represented the undisclosed seller and will continue to manage leasing at the property, which was fully occupied at the time of sale.
DANIA BEACH, FLA. — CBRE has secured the sale of two adjacent hotels within the 102-acre Dania Pointe mixed-use development in Dania Beach, an oceanfront city in Broward County. The properties, Hyatt House and Hyatt Place, total 292 rooms and are surrounded by more than 1 million square feet of office and retail space, as well as 1,000 apartments within Dania Pointe. Florida-based Kolter Hospitality purchased the hotels for an undisclosed price. Christian Charre, Paul Weimer and Jennifer Jin of CBRE represented the undisclosed seller in the transaction.
TREASURE ISLAND, FLA. — Marcus & Millichap has brokered the $5.9 million sale of Treasure Island Plaza, a 20,000-square-foot retail strip center located at 118 107th Ave. in Treasure Island, a city in the Tampa Bay metro area. Built in 1981, the property was leased to 11 tenants at the time of sale. The buyer, an unnamed investment firm based in Miami, plans to redevelop the one-acre parcel into a mixed-use building with 40 residences atop 10,000 square feet of retail space. Evan Cannan and Reid Thedford of Marcus & Millichap’s Tampa office brokered the transaction.
NARANJA, FLA. — JQ Group has completed the development of Madison Point Apartments, a mixed-use multifamily community located at 26021 S. Dixie Highway in Naranja, roughly 30 miles outside Miami. ANF Group Inc. served as the general contractor on the project, which features 263 apartments and 14,355 square feet of commercial space across four buildings. Apartments span 637 to 1,175 square feet in one-, two- and three-bedroom layouts. Amenities at the community include a swimming pool, community center, playground, fitness center, library, media center and approximately 200 parking spaces.
TAMPA, FLA. — Orlando-based ZOM Living has completed the construction of Azola South Tampa, a 214-unit multifamily community located at 7701 Interbay Blvd. in Tampa. Units range in size from 747 to 2,115 square feet and include apartments in one- and two-bedroom layouts, as well as six townhomes with three bedrooms and two-and-a-half bathrooms. Amenities at the property include a 6,000-square-foot clubhouse, swimming pool, fire pit and a pool courtyard featuring an outdoor billiards table, TVs, seating, a summer kitchen and two grilling areas. Architectural firm LRK designed the community, which is currently 70 percent occupied. Monthly rental rates at the community begin at $1,987.
PALATKA, FLA. — Saint-Gobain North America has announced plans to invest $235 million to expand manufacturing space at its CertainTeed gypsum facility in Palatka, near the Port of Jacksonville on the St. Johns River in northern Florida. The Palatka facility, which currently employs more than 150 people, began operations in 2001. According to Saint-Gobain, the facility is one of the largest gypsum plants in the Southeast. The firm’s expansion project received more than $7 million in cash benefits and high-impact investment tax credits, including a State of Florida Capital Investment Tax Credit, a Career Source Florida Quick Response Training Grant, a grant from Putnam County and a Clay Cooperative Economic Development Rate. According to Saint-Gobain, the expansion will more than double the production capacity of the existing manufacturing plant, as well as create more than 100 new jobs. The investment will be made over the next two years through the firm’s building products subsidiary, CertainTeed Interior Products Group. In line with Saint-Gobain’s goal for carbon neutrality by 2050, the firm plans for sustainability to be an essential aspect of the project. The development will include the installation of new energy-saving equipment and automation technologies, including an energy board dryer that …
LAKELAND, FLA. — JLL has arranged the sale of Lakeside Village, a mixed-use power retail center located at 1479 Town Center Drive in Lakeland. Of the 541,465 square feet that make up Lakeside Village, 454,872 square feet of retail and office uses are part of the sale. The center is also home to four hotels totaling 383 rooms that are separately owned and not a part of the sale. Developed in 2005, Lakeside Village’s tenant roster includes anchors CMX Cinemas (18 screens), Belk, Books-A-Million and Kohl’s. Additional tenants include Starbucks, Chili’s, Olive Garden, LongHorn Steakhouse and Famous Footwear. The average tenure of the property is 14 years. Danny Finkle, Eric Williams, Jorge Portela and Kim Flores of JLL represented the undisclosed seller in the transaction. Baltimore-based Continental Realty Corp. acquired Lakeside Village for an undisclosed price.
DEERFIELD BEACH, FLA. — Housing Trust Group (HTG) has formed a joint venture with the Broward County Housing Authority to develop Hillsboro Landing, a 75-unit affordable housing project in Deerfield Beach that will be reserved for renters age 62 and older. The duo broke ground on the $41 million development last month and are aiming for an October 2024 completion date. The project is the first of a two-phase redevelopment of a former public housing site that was demolished in 2007. Located at 3851 N. Dixie Highway, Hillsboro Landing will be a six-story, pet-friendly residential building featuring 45 one-bedroom units spanning 702 square feet and 30 two-bedroom units spanning 927 square feet. Apartments will be reserved for income-qualifying seniors who earn at or below 22, 25 and 60 percent of the area median income (AMI). Monthly rents will range $374 to $1,225. Amenities will include a multipurpose room, fitness center, bocce ball court and outdoor rooftop terraces, along with 96 parking spots. Debt and equity partners on the project include Raymond James, Fifth Third Bank, Grandbridge Real Estate Capital, the State of Florida and Broward Housing Finance Authority. The design-build team includes architect ATL Architecture, general contractor Ferncore Corp., engineer …
DEBARY, FLA. — Mosaic Development LLC has purchased 13.1 acres of land in Debary, roughly 23 miles north of Orlando, for the development of the first phase of a mixed-use project to be located immediately north of the city’s SunRail station. Upon completion, the “Main Street-style” development will feature 500 apartment units, 40,000 square feet of retail space and a central park and community plaza. Construction on the project is scheduled to begin early next year. Mosaic purchased the land parcels, which are zoned as a transit-oriented development (TOD) district, from private landowners as well as the City of DeBary for a total $4.2 million. Mosaic is currently under contract to purchase an additional 5.7 acres within three years for the second phase of the development. Colliers worked to bring the private owners into a joint marketing agreement with the city. Ken Krasnow, Brooke Mosier and David Calcanis of Colliers represented the sellers, which included Miller Land Trust, Ray Sands/Frank Slabodnik, Empire Cattle and DeBary Central LLC, in addition to the city. Casey Babb of Colliers represented Mosaic in the transaction. “I envision a main street that serves as the vibrant heart of our community — a place where neighbors …
TALLAHASSEE, FLA. — Newmark has arranged the sale of Seminole Grand, a 1,557-bed student housing community located near the Florida State University campus in Tallahassee. Ryan Lang, Jack Brett, Ben Harkrider and Avery Klann of Newmark represented the seller, The Collier Cos., in the disposition of the property to FPA Multifamily. The sales price was not disclosed. Located at 1505 W. Tharpe St., the garden-style community offers a mix of two-, three- and four-bedroom units with bed-to-bath parity. Shared amenities include a resort-style swimming pool, fitness center, yoga studio, sound-proof study rooms and a multimedia gaming center. The property also features a bus stop for the Florida State University line.
