REBusinessOnline

Orlando the Top City in North America for Tech Talent Growth, Says CBRE

ORLANDO, FLA. — Orlando has topped CBRE’s list of tech talent momentum markets in the firm's annual Scoring Tech Talent Report, which measures growth and acceleration in 50 cities across the United States and Canada. Over the two-year period from 2017-2018, the tech talent labor force in Orlando grew 14.1 percent compared with the previous two-year period. According to the study, San Diego and Chicago were the second and third fastest growing cities with 10.2 percent and 8 percent …

Company News, Florida, Southeast

Madison Realty Capital Provides $225M Construction Loan for Residential High-Rise in Boca Raton

BOCA RATON, FLA. — Madison Realty Capital has provided a $225 million loan for The Residences at Mandarin Oriental, a planned 12-story, 580,00-square-foot condominium tower in Boca Raton. The borrower, owner and developer Penn-Florida Cos., is developing the project within Via Mizner, a $1 billion, 2 million-square-foot mixed-use project. Penn-Florida broke ground on The Residences several months ago, along with the connected 164-room Mandarin Oriental Hotel. The hotel and condos are joined …

Development, Florida, Loans, Multifamily, Southeast

Cushman & Wakefield Arranges $49M Sale of Whole Foods-Anchored Shopping Center in Southwest Florida

FORT MYERS, FLA. — Cushman & Wakefield has arranged the $49 million sale of Daniels Marketplace, a 106,739-square-foot shopping center in Fort Myers. The site, situated at 6891 Daniels Parkway, was fully leased at the time of the sale to tenants including Whole Foods Market, a salon, dentist, Pilates gym, dry cleaner, pet hospital and several fast-casual restaurants such as Mellow Mushroom and Panera Bread. There are also future development opportunities at the property. Fain Hicks, Mark …

Acquisitions, Florida, Retail, Southeast

InvenTrust Purchases Costco-Anchored Shopping Center in South Florida for $97M

ROYAL PALM BEACH, FLA. — InvesTrust Properties Corp. has purchased Southern Palm Crossing, a Costco-anchored, 346,200-square-foot shopping center in Royal Palm Beach, for $97 million. Other tenants include Marshalls, HomeGoods and 24 Hour Fitness. The center is situated at 11001 Southern Blvd., 12 miles west of downtown West Palm Beach. The seller was not

Acquisitions, Florida, Retail, Southeast

A-Rod Corp. Acquires 12,700 SF of Office Space in Miami’s Coconut Grove, Will Relocate Headquarters

MIAMI — A-Rod Corp., led by former Major League Baseball player Alex Rodriguez, has acquired 12,700 square feet of office space within a two-tower condo called Grove at Grand Bay in Miami’s Coconut Grove neighborhood. The corporation will consolidate its offices to create a new headquarters at 2675 S. Bayshore Drive. In addition to the full floor of office space, the acquisition includes ground-floor space that will be used for events, conferences and related activities. A-Rod Corp.’s …

Acquisitions, Florida, Office, Southeast

Berger Commercial Negotiates $36.9M Sale of Industrial Development Site in Fort Lauderdale

FORT LAUDERDALE, FLA. — Berger Commercial Realty has arranged the $36.9 million sale of a 34-acre parcel in Fort Lauderdale for the development of a 650,000-square-foot industrial building. Bridge Acquisition LLC, a subsidiary of Bridge Development Partners, acquired the land from Forman Industrial Land LLC. Bridge Development will construct a high-volume warehouse and distribution space in a new multi-building industrial park to be known as Bridge Point 595. Construction is slated to begin …

Acquisitions, Development, Florida, Industrial, Southeast

JLL Arranges $58.5M Refinancing of Two Beachfront Hotels in Florida Panhandle

FORT WALTON BEACH, FLA. — JLL has arranged a $58.5 million refinancing loan for two neighboring hotels totaling 330 rooms in Fort Walton Beach. Ladder Capital Finance LLC provided the 10-year, fixed-rate loan to partners Innisfree Hotels and Band of Poarch Creek Indians. Loan proceeds will be used to pay off the original construction loan and provided the borrowers with $8.4 million. The hotels are on a ground lease with the U.S. Air Force that expires in 45 years. The portfolio comprises …

Florida, Hospitality, Loans, Southeast

Cushman & Wakefield Brokers $69.3M Sale of Distribution Center Complex in Tampa

TAMPA, FLA. — Cushman & Wakefield has arranged the $69.3 million sale of Tampa Distribution Center, a six-building, 955,000-square-foot industrial facility in Tampa. Tampa Distribution Center consists of six dock-high, front-load and flow-through industrial buildings on 51 acres. Suite sizes range from 2,500 to 90,000 square feet and average 15,000 square feet. The property was 94.6 percent leased at the time of sale to tenants including Lansing Building Products, Consolidated Container …

Acquisitions, Florida, Industrial, Southeast

TerraCap Management Purchases Business Park in South Orlando for $17.6M

ORLANDO, FLA. — TerraCap Management has purchased Lake Point Business Center, a six-building office park in Orlando, for $17.6 million. The property consists of six single-story office buildings with 134,000 square feet of rentable space. Lake Point Business Park is located in south Orlando, about five miles from Orlando International Airport. Ron Rogg of CBRE represented the seller, Raith Capital Partners LLC, in the transaction. BankUnited provided acquisition financing to

Acquisitions, Florida, Office, Southeast

Black Creek Acquires Two Multifamily Properties in Maryland, Florida Totaling 601 Units

ROCKVILLE, MD. AND WINTER PARK, FLA. — Black Creek Group has acquired two multifamily communities, one in Rockville and one in Winter Park. The Rockville property is The Daley at Shady Grove Metro, a 333-unit community that was 95 percent occupied at the time of sale. The Daley is situated at 8010 Gramercy Blvd., 25 miles north of downtown Washington, D.C. Communal amenities include a community lounge, fitness center, swimming pool, outdoor courtyard and grilling stations. The second …

Acquisitions, Florida, Maryland, Multifamily, Southeast
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