Sunday, May 11, 2025
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AcquisitionsDevelopmentFloridaRetailSoutheast

Continental Realty Corp. Sells Parcel at Fort Myers Shopping Center, Buyer Plans New EoS Fitness Location

by John Nelson

FORT MYERS, FLA. — Baltimore-based Continental Realty Corp. has sold a 2.2-acre outparcel at the Shoppes at Pelican Preserve, a 79,970-square-foot shopping center located at 10580 Colonial Blvd. in Fort Myers that is anchored by Winn-Dixie. The buyer, Barclay Group, purchased the land for $2.2 million. The firm plans to develop a 42,000-square-foot freestanding building on the site that will be fully occupied by EoS Fitness. Barclay Group expects to deliver the new property by 2026. Blake Dickinson of Continental Realty Corp., as well as Bob Pekol and Jessica McEvoy of LQ Commercial Fort Myers, represented the seller in the land deal. Tyler McRae of SRS Real Estate Partners represented the buyer. EoS Fitness currently operates 13 gyms in Florida. Barclay Group has delivered 30 sites for the fitness concept across six states.

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DevelopmentFloridaIndustrialSoutheast

Altman Logistics, PCCP Begin Vertical Construction of 200,000 SF Industrial Facility in Delray Beach, Florida

by John Nelson

DELRAY BEACH, FLA. — A joint venture between Altman Logistics Properties and PCCP has begun vertical construction of the first phase of Apex Logistics Park at Delray, an approximately 200,000-square-foot, Class A logistics building in Delray Beach. The first phase of the development is slated for completion in the second quarter, with an additional 472,000 square feet planned for a total of three industrial buildings. Spanning 40 acres, Apex Logistics Park is expected to include 36-foot ceiling heights, 215 parking spaces, 45 dock doors and direct access and frontage to US Highway 441. Additional sustainable elements of the property will feature R-19 roof insulation and solar-ready roofing, electric vehicle charging stations, indoor air quality enhancements, interior LED lighting and advanced exterior lighting control systems. Christopher Thomson and Matthew McAllister of Cushman & Wakefield will lead leasing efforts for the property. Altman Logistics Properties has several other projects underway across Florida, including plans to break ground on an approximately 202,000-square-foot industrial development in Lakeland and an estimated 182,000-square-foot warehouse logistics facility in Davie.

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DevelopmentFloridaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Five New Tenants to Open at Mixed-Use Development in Bonita Springs, Florida

by John Nelson

BONITA SPRINGS, FLA. — Five new tenants are joining the tenant roster at Midtown at Bonita, a 68-acre mixed-use development in Bonita Springs, about 15 miles north of Naples. The project’s developer, The Zuckerman Group, recently signed LowBrow Pizza & Beer, Pacific Dental Services, Mathnasium, Gelato&Co. and Beau’s BBQ to the lineup. Set to open in 2026, the mixed-use development will offer 315,000 square feet of dining, shopping, lifestyle, entertainment, wellness and service options for residents in the Southwest Florida region. The development will also feature 400 residential units and a 165-room hotel. The new additions join a tenant roster of national, regional and local retailers already committed to Midtown at Bonita, including Panera Bread, Good Vets, Club Pilates and Jeff’s Bagel Run, among others.

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DevelopmentFloridaMultifamilySoutheast

Crescent Communities Opens 277-Unit Novel Independence Park Apartments in Tampa

by John Nelson

TAMPA, FLA. — Crescent Communities has opened Novel Independence Park, a 277-unit apartment community located in Tampa’s Westshore District. The property features studio, one-, two- and three-bedroom residences across three five-story buildings. Monthly rental rates range from $2,032 to $3,035, according to Apartments.com. Amenities include a resort-style saltwater swimming pool and cabanas, outdoor grilling area and firepit, fitness center complete with a flex studio for yoga and spin classes, elevated sky deck and resident clubroom, indoor and outdoor coworking spaces, shaded dog park, nature trail and a pickleball court. Crescent’s financial partners for Novel Independence Park include CP Capital US and Truist. The design-build team includes architect Dwell Design Studio, civil engineer Haiff Associates, landscape architect LandDesign, interior designer Vignette Interior Design and general contractor CBG Construction. 

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AcquisitionsFloridaIndustrialLeasing ActivitySoutheast

Digiacomo Group, JLL Arrange $25.8M Sale-Leaseback of Cold Storage Facility Near Miami Airport

by John Nelson

MIAMI — Digiacomo Group and JLL have negotiated the $25.8 million sale-leaseback of a cold storage facility located at 2323 N.W. 72nd Ave. in Miami. The seller, produce distributor Sun Belle LLC, will lease back the 82,261-square-foot property from the new owner, locally based Iconic Equities LLC, which specializes in industrial outdoor storage (IOS) and traditional industrial development. Built in 1978 and renovated in 2019, the cold storage facility sits on a 3.3-acre lot near Milam Dairy Road on the outskirts of the Miami International Airport campus. The property features 30.5-foot clear heights in the warehouse space, 24-foot clear heights in the cooler space, 11 dock-high doors and one grade-level door. Roger Zuniga of Digiacomo Group, along with Cody Brais, Luis Castillo and Taylor Osborne of JLL, represented Sun Belle in the sale-leaseback transaction. Additionally, Christopher Drew, Michael DiCosimo and Jovi Rodriguez of JLL arranged an undisclosed amount of acquisition financing for Iconic Equities.

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AcquisitionsFloridaIndustrialSoutheast

CBRE Arranges $20M Sale of Chancellor Square Industrial Complex in Orlando

by John Nelson

ORLANDO, FLA. — CBRE has arranged the $20 million sale of Chancellor Square, an industrial complex spanning 142,069 square feet in Orlando. Boca Raton, Fla.-based Basis Industrial purchased the property from Miami-based B Group Capital Management. Ronald Rogg of CBRE represented the seller in the transaction, along with Sebastian Barbagallo and Franco Barbagallo of B Group Capital. Anthony Scavo and Ahmad Elayyan represented Basis Industrial internally. Situated on 23 acres in Orlando’s Central Park area, Chancellor Square comprises three single-story freestanding buildings that feature light industrial, flex and showroom space. The property was fully leased at the time of sale to government and publicly traded companies, according to CBRE.

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DevelopmentFloridaRetailSoutheast

Whole Foods Opens 35,000 SF Grocery Store in Boca Raton, Florida

by John Nelson

BOCA RATON, FLA. — Whole Foods Market has opened a new 35,000-square-foot grocery store at 9560 Glades Road in Boca Raton. The new store, which carries more than 700 items sourced from Florida, is one of the several anchors at the Uptown Boca development on the city’s west side. Giles Capital Group, Rosemurgy Properties, Schmier Property Group and Wheelock Street Capital broke ground on the $200 million mixed-use development in 2018. Other elements at Uptown Boca include REI, Sephora, Life Time Fitness and 456 apartments, among other components.

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DevelopmentFloridaMixed-UseOfficeSoutheast

Partnership Receives Civic Approval for Mixed-Use Redevelopment of Office Depot Headquarters in Boca Raton, Florida

by John Nelson

BOCA RATON, FLA. — A partnership between BH Group, PEBB Enterprises and Related Group has received site plan approval from the Boca Raton City Council for the mixed-use redevelopment of 6600 N. Military Trail, a 405,000-square foot property in Bacon Raton that serves as Office Depot’s headquarter campus. BH Group and PEBB will begin demolition on an existing office tower to start the construction of an eight-story building with 500 apartments, nearly 43,000 square feet of retail and restaurant space and a 37,000-square-foot fitness facility. Two existing office buildings will remain onsite, according to the development team. Office Depot recently consolidated its office footprint at the campus but will remain onsite for the foreseeable future, according to local media outlets.

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FloridaIndustrialLeasing ActivitySoutheast

Ian Black Real Estate Signs Video Game Developer to 23,349 SF Industrial Lease in Nokomis, Florida

by John Nelson

NOKOMIS, FLA. — Ian Black Real Estate has signed video game developer Combat Waffle Studios to a 23,349-square-foot industrial space in Nokomis, about 17 miles south of Sarasota. Located at 195 Triple Diamond Blvd., the original office building was converted into a warehouse to provide room for development meetings, VR testing areas and motion capture and security-focused development zones. The property was also pre-wired for fiber-optic internet services. Additionally, Combat Waffle Studios will make minor repairs to the space, including new flooring, lighting and paint, according to the Tampa Bay Business Journal. The space was formerly occupied by drinkware brand Tervis, which vacated the property in January as part of the company’s consolidation. Combat Waffle Studios, which is backed by Facebook and Instagram parent company Meta and produces the popular video game “Ghosts of Tabor,” is expected to have 100 employees working from the space. Nick DeVito II and Brie Tulp of Ian Black Real Estate represented the landlord, an entity doing business as 201 Triple Diamond Holdings LLC, in the lease transaction.

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AcquisitionsFloridaOfficeSoutheast

Partnership Acquires Bank of America Plaza Office Tower in Fort Lauderdale for $220M

by John Nelson

FORT LAUDERDALE, FLA. —  A partnership between affiliates of locally based firms Square2 Capital and Highline Real Estate Capital and Dallas-based Lone Star Funds has acquired Bank of America Plaza, a 410,561-square-foot office tower located at 401 East Las Olas Blvd. in Fort Lauderdale. The sales price was not disclosed, but South Florida Business Journal reports the property traded for more than $220 million. The 23-story tower — which was 94 percent leased at the time of sale — is situated on a full city block in the city’s Las Olas Financial District. Tenants at the property include Bank of America, Greenberg Traurig, Boies Schiller Flexner, Motorola Solutions and UBS. CBRE represented the seller, a global investment manager, in the transaction, and arranged acquisition financing on behalf of the buyer. Mike Manno of Square2 Capital will lead the property management responsibilities at Bank of America Plaza on behalf of the new ownership.

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