Monday, July 6, 2026
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DevelopmentFloridaOfficeSoutheast

Partnership to Develop 131,000 SF Office Building in Boca Raton, Florida

by John Nelson

BOCA RATON, FLA. — A partnership between Butters Construction & Development Inc., PEBB Enterprises and Konsker Development plans to develop One Midtown, a 131,000-square-foot office building in Boca Raton’s Midtown submarket. The property will comprise 120,000 square feet of Class A office space and 11,000 square feet of ground-level retail space. The developers say that One Midtown is approximately 35 percent preleased. Christina Jolley, Kevin Carrasco, Tere Blanca and Danet Linares of Blanca Commercial Real Estate are the office leasing representatives, and Zach Feldman of PEBB is overseeing retail leasing on behalf of ownership. The construction timeline for the project was not released.

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FloridaIndustrialMarket ReportsSoutheastSoutheast Market Reports

Southwest Florida’s Industrial Market Is Primed for a Surge

by John Nelson

When it comes to the Florida commercial real estate market, the conversation typically gravitates toward the larger metro areas. However, for those of us on the ground, it’s clear that Southwest Florida is becoming a key player in the state, particularly for industrial users.  By nearly every measurable standard — population growth, job creation and infrastructure investment — Southwest Florida continues to outperform much of the United States. Industrial users and investors have taken notice, and so far in 2026, leasing activity has already outpaced all quarters in 2025. According to the latest Colliers market report, the market has absorbed 115,777 square feet of flex and industrial space in the first quarter alone, compared to fourth-quarter 2025 which saw (-189,303 square feet) of negative absorption.  This is due to pent-up demand from users taking a cautious “wait-and-see” approach last year. And while the factors preventing them from making decisions in 2025 still exist, the sheer necessity of a physical presence in the area has finally outweighed the perceived risks.  ‘Supply reset’ On paper, the data might give pause. Overall vacancy in Southwest Florida rose to 9.7 percent in first-quarter 2026, a sharp departure from the 7.2 percent we saw just …

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Jackson-Health
DevelopmentFloridaHealthcareSoutheast

Jackson Health Completes $400M Emergency Room Expansion in Miami

by Abby Cox

MIAMI — Jackson Health System has completed the first phase of the $400 million renovation and expansion of its emergency room at Jackson Memorial Hospital in Miami. The newly built, ground-up emergency room has doubled its original footprint, which now spans 178,000 square feet. Designed by HKS and built by Skanska, the project included the demolition of two existing buildings to create space for the expanded facility. Phase I of the renovation features 60 general exam rooms, four resuscitation rooms, six triage and 12 fast-track rooms, along with a second floor that comprises 50 observation rooms and seven acute care rooms. Patients also now have access to a full radiology suite with MRI, CT, X-ray and ultrasound capabilities, as well as an on-site pharmacy for immediate delivery of medications. Phase II of the project will continue to expand the existing 45,000-square-foot emergency room with 121 adult emergency rooms, dedicated behavioral health bays and 30 pediatric emergency rooms. Renovations are underway and scheduled for completion in 2027. Lastly, Phase III will further expand the emergency room through the addition of a third floor with more clinical space and a helipad for rapid transfers and life-saving arrivals.

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building-III-karis-speedway
DevelopmentFloridaIndustrialSoutheast

DSI, Karis Break Ground on Final Phase of Speedway Commerce Center in Daytona Beach, Florida

by Abby Cox

Daytona Beach, Fla. — Development Solutions Inc., in partnership with Karis and the City of Daytona Beach, has broken ground on the final phase of Speedway Commerce Center, an 808,693-square-foot industrial development underway in Daytona Beach. Designed by Lamar Johnson Collaborative (LJC) and constructed by DSI South, Building III will support the needs of logistics, distribution, manufacturing and e-commerce users. Building III will comprise 217,603 square feet and will feature 36-foot clear heights; 32 dock doors and two drive-in doors; 210 car parking spaces and 33 trailer stalls; an ESFR sprinkler system; and the ability to accommodate more than 20,000 square feet of office space and four tenants. The building is expected for delivery in the fourth quarter of 2026.

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Levi-at-River-City
AcquisitionsFloridaMultifamilySoutheast

American Landmark Acquires Two Multifamily Communities in Jacksonville, Florida

by Abby Cox

JACKSONVILLE, FLA. — American Landmark Properties has acquired two multifamily communities totaling 552 units in Jacksonville. The adjacent properties include Mirador Apartments at River City and Stovall Apartments at River City, which will be rebranded as a singular property, dubbed Levi at River City. The seller and sales price were not disclosed. Built in 2007, Levi at River City offers a mix of one-, two- and three-bedroom apartments that feature fully equipped kitchens, private patios or balconies, and in-unit washers and dryers. Amenities include resort-style swimming pools, a fitness center, clubhouse, business center, community playground and controlled-access entry.

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DevelopmentFloridaSoutheastStudent Housing

Gilbane, CBRE Investment Begin Leasing 703-Bed Student Housing Development Near University of Florida

by John Nelson

GAINESVILLE, FLA. — Gilbane Development and CBRE Investment Management have begun leasing Zaya, a 703-bed student housing project located at 3600 S.W. 20th Ave. in Gainesville. The property, which broke ground last year, is situated less than one mile from the University of Florida campus and Butler Center, a retail destination featuring three power retail centers: Butler Plaza, Butler North and Butler Town Center. Scheduled for completion in fall 2027, Zaya will offer 352 units with bed-to-bath parity. Shared amenities are set to include three courtyards, study rooms on each floor, a coworking lounge, rooftop resort-style pool, pickleball court, clubhouse, 24-hour fitness center, yoga studio and an indoor sauna.

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FloridaLeasing ActivityOfficeSoutheast

CP Group Brings Occupancy at Central Florida Office Campus to 93 Percent

by John Nelson

LAKE MARY, FLA. — CP Group has improved the occupancy rate at Northpoint Center, a 334,000-square-foot office campus in the Orlando suburb of Lake Mary, from 76 percent to 93 percent in under two years. The Boca Raton-based office giant has executed more than 126,000 square feet of leases since recapitalizing and renovating the three-building office campus two years ago. Recently, CP Group signed a new 16,586-square-foot lease with Staples Contract & Commercial LLC, a subsidiary of the retailer Staples, and a 13,707-square-foot lease expansion for Westwood Professional Services, which is more than doubling its footprint at Northpoint Center. Madison Kimball of JLL represented the landlord in both transactions.  Chris Mullen and Andrei Savitski of CBRE represented Staples, and John Beach and Catherine Gibbons of Newmark represented Westwood.

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FloridaMarket ReportsOfficeSoutheastSoutheast Market Reports

Miami’s Office Market Has Moved Beyond the Migration Narrative

by John Nelson

Miami’s office market is no longer defined by migration alone. What is driving performance today is expansion, constrained supply and long-term corporate commitments that continue to support growth, even as many U.S. office markets navigate ongoing uncertainty. At its core, this cycle is defined by the imbalance between rising demand for space and the limited availability of high-quality office product. Companies are not only maintaining a presence in Miami, but they are scaling, and that expansion is increasingly shaping the direction of the market. That dynamic has been evident over the past five years and continued in the first quarter. Leasing activity has settled in above pre-2020 levels and the Miami-Dade County office market continues to record positive absorption. With 89,000 square feet of positive absorption this quarter, the Miami-Dade office market has absorbed approximately 3.4 million square feet since the start of 2021.  That strong demand has pushed asking rents to $66.30 per square foot, up 10.6 percent year-over-year, and 53 percent since first-quarter 2021. The market also continued to attract institutional attention, underscored by Palantir’s decision to establish its headquarters in Miami. Underlying these numbers is a structural advantage that continues to set Miami apart: utilization. The city …

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FloridaLoansOfficeSoutheast

Berkadia Arranges $100.4M Refinancing for Office Campus in Palm Beach Gardens, Florida

by John Nelson

PALM BEACH GARDENS, FLA. — Berkadia has arranged a $100.4 million loan for the refinancing of DiVosta Towers, a two-building office campus located at 3825 and 3835 PGA Blvd. in Palm Beach Gardens, a city in South Florida’s Palm Beach County. The Class A property comprises two 11-story office buildings spanning 220,000 square feet that are connected by a parking structure. The property was fully delivered in 2020 and houses tenants including JP Morgan, Wealthspire Advisors and Virtu Financial, among others. Charles Foschini, Scott Wadler and Shannon Wilson of Berkadia’s Miami office arranged the three-year, floating-rate loan through Cirrus Real Estate on behalf of the borrower, Gatsby Florida. The sponsor is also building The Modern at Palm Beach Gardens, a 220,000-square-foot office building located at 11200 RCA Center, less than one mile from DiVosta Towers.

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AcquisitionsFloridaMultifamilySoutheast

Waterton Purchases 358-Unit Apartment Community in South Florida for $80.5M

by John Nelson

PEMBROKE PINES, FLA. — Waterton has purchased The Landings at Pembroke Lakes, a 358-unit, garden-style apartment community located at 10650 Washington St. in Pembroke Pines, a city in South Florida’s Broward County. The Chicago-based owner-operator plans to invest in light capital improvements to the property’s interiors and common areas, including new equipment on its lakefront beaches. The seller and sales price were not disclosed, but South Florida Business Journal reports the property traded at $80.5 million. Walker & Dunlop represented both the buyer and seller in the transaction and also arranged acquisition financing. Built in 1989 around a 45-acre lake, The Landings at Pembroke Lakes is situated on a 27-acre site and offers a mix of one- and two-bedroom apartments. Amenities include a resort-style pool, clubhouse, fitness center, dog park, tennis courts and sand volleyball courts.

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