Property Type

Tavistock Tops Off Pier Sixty-Six Hotel, Residential Tower in Fort Lauderdale

by John Nelson February 2, 2023

FORT LAUDERDALE, FLA. — Tavistock Development Co. has topped off a new hotel and resort residential tower as part of the redevelopment of Pier Sixty-Six, a mixed-use waterfront destination in Fort Lauderdale. The reimagined Pier Sixty-Six Resort and The Residences at Pier Sixty-Six are set to debut next year. Situated on 32 acres along the Intracoastal Waterway, the overall development will ultimately include the resort and 62 luxury condominiums, as well as the property’s 164-slip marina, restaurants, shops and offices. The project team includes general contractors Americaribe and Moriarty, which are employing 1,000 construction workers for the redevelopment project.

February 2, 2023

Development Florida Multifamily Southeast

Prospect, American Landmark to Develop 355-Unit Apartment Community in Kissimmee, Florida

by John Nelson February 2, 2023

KISSIMMEE, FLA. — Prospect Real Estate Group II LLC and American Landmark Communities plan to develop a 355-unit apartment community in Kissimmee, a suburb of Orlando. Prospect recently purchased the 10.7-acre development site, located at North Rose Avenue and Martin Luther King Jr. Boulevard, for $10.4 million. David Calcanis of Colliers represented the seller, Boston-based Saxon Partners LLC, in the land transaction. Moushimi Chinni Ganguli of CityLights RE represented the buyer. Scott+Cormia and WGI designed the four-story, Advantis-branded apartment community to feature 16 live-work units atop nearly 900 square feet of commercial space that is ideally suited for medical office space due to its proximity to two prominent hospitals, Osceola Medical Center and AdventHealth Kissimmee. Most apartments will come in studio, one-, two- or three-bedroom layouts. Prospect and American Landmark expect to break ground on the project in the second quarter and to complete construction in second-quarter 2025.

February 2, 2023

Acquisitions Healthcare Texas

Rethink Healthcare Real Estate Buys 36,101 SF Emergency Hospital in Mansfield, Texas

by Taylor Williams February 2, 2023

MANSFIELD, TEXAS — Rethink Healthcare Real Estate, a New York-based investment firm, has purchased a 36,101-square-foot emergency hospital located in the southern Fort Worth suburb of Mansfield. Emerus operates the facility, which opened about seven years ago. Rethink acquired the property in a joint venture with global investment management firm Heitman. An affiliate of First Citizens Bank provided acquisition financing for the deal, which was arranged by BlackBirch Capital.

February 2, 2023

Acquisitions Office Texas

SVN | J. Beard Arranges Sale of 25,669 SF Office Building in Kingwood, Texas

by Taylor Williams February 2, 2023

KINGWOOD, TEXAS — SVN | J. Beard Real Estate has arranged the sale of a 25,669-square-foot office building located at 1710 W. Lake Houston Parkway in Kingwood, about 30 miles north of Houston. The two-story building was originally constructed in 2007. Jeff Beard of SVN | J. Beard Real Estate represented the seller, Woodforest National Bank, in the deal. Bonnie Pfrenger, also with SVN | J. Beard, represented the buyer, an entity doing business as Fire King Holdings LLC.

February 2, 2023

Development Florida Industrial Southeast

Kroger Opens 60,000 SF Last-Mile Distribution Facility in South Florida

by John Nelson February 2, 2023

OPA-LOCKA, FLA. — The Kroger Co. has opened a 60,000-square-foot industrial facility in the South Florida city of Opa-Locka. Ocado Group, an e-commerce grocery delivery firm based in the United Kingdom, operates the automated facility. Situated on the north side of Miami-Dade County, the facility serves as a last-mile “spoke” facility that works in conjunction with Kroger’s 375,000-square-foot customer fulfillment center in Groveland, Fla. The new facility extends Kroger’s delivery capabilities to South Florida, with Homestead, Fla., serving as the farthest south the grocer can make deliveries. Kroger expects to employ 90 associates at the Opa-Locka facility. In addition to the Groveland facility, the Cincinnati-based grocer currently operates customer fulfillment centers in Monroe, Ohio; Forest Park, Ga.; Pleasant Prairie, Wis.; Dallas; Romulus, Mich.; and Aurora, Colo. Additional customer fulfillment centers are slated for California; Frederick, Md.; Phoenix; Cleveland; Charlotte; South Florida and the Northeast.

February 2, 2023

Development Industrial Maryland Southeast

Brennan Investment Group to Build 80,275 SF Industrial Facility in Metro Baltimore

by John Nelson February 2, 2023

GLEN BURNIE, MD. — Brennan Investment Group has purchased 15.8 acres along Solley Road in Glen Burnie, a suburb of Baltimore. The Chicago-based firm plans to develop an 80,275-square-foot industrial facility on the site. The building is slated for completion later this year and is intended to be the first of several investments for Brennan in the Washington-Baltimore corridor. The property, which will offer tenants interstate access via I-695, is situated 12 miles from Baltimore-Washington International Airport. The building is designed to accommodate one or two tenants, according to Brennan.

February 2, 2023

Acquisitions Retail South Carolina Southeast

Marcus & Millichap Brokers $5M Sale of Walgreens-Leased Store in Hartsville, South Carolina

by John Nelson February 2, 2023

HARTSVILLE, S.C. — Marcus & Millichap has brokered the $5 million sale of a 14,450-square-foot store at 901 S. 5th St. in Hartsville that is net-leased to Walgreens. The drug store chain has a little less than 11 years left on the lease, as well as 50 one-year extension options. A buyer based on the East Coast purchased the store in an all-cash deal from the seller, a limited liability company. Both parties requested anonymity. Bruce Cowley and Lisa Sickinger of Marcus & Millichap represented the seller in the transaction. Ben Yelm, Marcus & Millichap’s South Carolina broker of record, assisted in the deal.

February 2, 2023

Acquisitions Massachusetts Multifamily Northeast

Tishman Speyer Acquires East Boston Apartment Complex for $135M

by Taylor Williams February 2, 2023

BOSTON — New York City-based real estate giant Tishman Speyer has acquired The Eddy, a 259-unit apartment complex in East Boston, for $135 million. The 17-story, waterfront property was originally built in 2016 and offers studio, one- and two-bedroom units. Amenities include an outdoor deck with a pool, lounge with a chef’s kitchen and pool table, rooftop terrace and a fitness center. Walker & Dunlop represented the seller, Green Cities Cos., in the transaction. The deal marks Tishman Speyer’s first multifamily acquisition in Boston.

February 2, 2023

Acquisitions Industrial New Jersey Northeast

Cushman & Wakefield Brokers $23.7M Sale of Industrial Building in Branchburg, New Jersey

by Taylor Williams February 2, 2023

BRANCHBURG, N.J. — Cushman & Wakefield has brokered the $23.7 million sale of a 151,000-square-foot industrial building in the Northern New Jersey community of Branchburg. The facility houses the North American headquarters of eyewear designer and distributor Marcolin USA. Gary Gabriel, Kyle Schmidt, Andrew Schwartz, Jordan Sobel, Ryan Larkin and Andre Balthazard of Cushman & Wakefield represented the seller, an entity doing business as Viva Branchburg LLC, in the transaction. The team also procured the buyer, locally based investment firm Faropoint.

February 2, 2023

Civic Leasing Activity New York Northeast Office

Ireland House Signs 43,108 SF Office Lease at 200 Park Avenue in Manhattan

by Taylor Williams February 2, 2023

NEW YORK CITY — Ireland House, a civic body that represents the Irish government in the United States, has signed a 43,108-square-foot office lease at 200 Park Avenue in Manhattan. David Goldstein, Jim Wenk, Sam Mann and Allison Buck of Savills represented the tenant in the lease negotiations. Megan Sheehan, Gus Field and Sam Brodsky internally represented the landlord, Tishman Speyer.

February 2, 2023

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