Florida

Marcus & Millichap Brokers $22M Sale of Hoffner Commerce Center in Orlando

by Julia Sanders April 15, 2022

ORLANDO, FLA. — Marcus & Millichap has brokered the $22 million sale of Hoffner Commerce Center, a 93,749-square-foot property in Orlando. Salim Valiani and Andrew Jaworski of Marcus & Millichap represented the seller, an entity doing business as Hoffner Center LLC, and procured the buyer, Avanti Way Capital, in the transaction. Hoffner Commerce Center is a 53-suite building that was 93 percent occupied at the time of sale by tenants including Herbalife, Labcorp and State Farm Auto Insurance. The property includes ground-floor retail, as well as office and medical office space. The excess land is zoned for industrial. Located at 5449 S. Semoran Blvd., the property is situated 8.2 miles from downtown Orlando and 4.3 miles from Orlando International Airport.

April 15, 2022

Florida Loans Multifamily Southeast

JLL Secures $10.9M in Financing for Two Multifamily Communities in Florida

by Julia Sanders April 15, 2022

JACKSONVILLE AND APOPKA, FLA. — JLL Capital Markets has secured a total of $10.9 million in financing for two multifamily properties in Florida. JLL arranged $5.9 million in financing for the 288-unit Club at Danforth in Jacksonville and $5 million in supplemental financing for the 210-unit Verandahs at Hunt Club in Apopka. Elliott Throne, Mona Carlton, Kenny Cutler, Joshua Odessky and Karim Khaiboullin of JLL arranged the fixed-rate, Freddie Mac loans on behalf of the borrower, Beachwold Residential. Each loan featured a term of less than seven years. Built in 1998 and updated in 2018, Club at Danforth is a garden-style apartment community featuring 16 buildings. Community amenities include a playground, fitness center, swimming pool, dog park, racquetball and basketball courts, clubhouse and a business center. Located at 3701 Danforth Drive, the property is situated 14.3 miles from downtown Jacksonville and 25 miles from Jacksonville International Airport. Completed in 1985, Verandahs at Hunt Club includes 21 two-story buildings. The property offers one-, two- and three-bedroom floorplans. Community amenities include a pool, fitness center, tennis court, dog park and a car care center. Located at 3000 Foxhill Circle, the property is situated 13.8 miles from Orlando and 33.6 miles from Orlando …

April 15, 2022

Acquisitions Florida Retail Southeast

Continental Realty Sells Shopping Center in Metro Orlando for $9.4M

by Julia Sanders April 15, 2022

CLERMONT, FLA. — Baltimore-based Continental Realty Corp. (CRC) has sold Glenbrook Commons, a 64,707-square-foot, fitness-anchored shopping center in Clermont. Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented the seller in the transaction. Winter Park, Fla.-based CrossMarc Services acquired the property for $9.4 million. Originally constructed in 2009, Glenbrook Commons was 98.4 percent leased at the time of sale. Fitness CF anchors the center, which is also home to US Taekwondo, China Gourmet, Gametime Barber Shop, The Cat Garden, Clermont Family Dentistry and Suncoast Premier Medical. There were three additional undeveloped pads included in the transaction that can be developed for future retail uses. Located at 1714 US Highway 27 on a 15.6-acre site, the property is situated 34.3 miles from Orlando and 10 miles from Walt Disney World Resort.

April 15, 2022

Acquisitions Florida Retail Southeast

Franklin Street Brokers $12.3M Sale of Medical Retail Property in Metro Orlando

by Julia Sanders April 14, 2022

KISSIMMEE, FLA. — Franklin Street has brokered the sale of Southport Medical Center, a 37,454-square-foot, multi-tenant retail strip center in Kissimmee. Greg Matus, Adam Tiktin, Alex Lazo and Jonathan de Maa of Franklin Street represented the undisclosed seller in the transaction. Mark Shellabarger and Ari Ravi of CBRE represented the buyer, Stanley Properties, which acquired the property as part of a 1031 exchange. Southport Medical Center was fully occupied at the time of sale to Quest Diagnostics, IMA Medical Group, Cora Physical Health Services, Domino’s Pizza and a nail salon. All 10 tenants at Southport Medical Center have triple-net leases, many of which have over five years remaining on their terms. Built in phases between 2006 and 2012, the property has undergone significant capital improvements by some of the tenants over the years. Located at 3350 W. Southport Road on a 3.9-acre site, the property is situated 35.4 miles south of Orlando and 20.1 miles from Walt Disney World Resort.

April 14, 2022

Development Florida Multifamily Southeast

AHS Residential Opens 420-Unit Oak Enclave Apartments in Miami Gardens, Florida

by Julia Sanders April 14, 2022

MIAMI GARDENS, FLA. — AHS Residential has opened Oak Enclave, a 420-unit multifamily community in Miami Gardens. Oak Enclave offers one-, two- and three-bedroom floorplans in five buildings. Unit features includes a private balcony or patio, high ceilings, granite countertops and stainless-steel appliances. Community amenities include a resort-style pool, fitness center, clubhouse and private parking. According to Apartments.com, rents range from $1,961 to $3,636 a month. Located at 2301 N.W. 167th St., the property is 13.4 miles from downtown Miami and 12.1 miles from Miami International Airport.

April 14, 2022

Acquisitions Florida Office Southeast

JLL Arranges $35M Sale of Two Office Buildings in Palm Beach, Florida

by Julia Sanders April 13, 2022

PALM BEACH, FLA. — JLL Capital Markets has arranged the $35 million sale of 340 and 350 Royal Palm Way, two adjacent Class A office buildings totaling 44,625 square feet in Palm Beach. Ike Ojala, Hermen Rodriguez, Matthew McCormack, Max Lescano, Blake Koletic and Michael Roukis of JLL represented the seller, Chicago-based Pearlmark, and procured the buyer, CS Ventures. One of the properties, 340 Royal Palm Way, features 20,813 square feet of office space in a four-story building. The other property, 350 Royal Palm Way, has five stories and 23,812 square feet of office space. The 350 Royal Palm Way building is fully leased. In total, the properties offer 146 parking spaces in a mix of covered and surface spaces. The buildings are situated 5.3 miles from Palm Beach International Airport and 27.5 miles from Boca Raton. The assets are also close to Florida’s Turnpike and Interstate 95.

April 13, 2022

Acquisitions Florida Industrial Southeast

Colliers Negotiates $21.8M Sale of Dairy Processing Facility in Miami

by Julia Sanders April 13, 2022

MIAMI — Colliers has negotiated the sale of the Borden Dairy Co./Velda Farms dairy processing facility in Miami for $21.8 million. Steven Wasserman and Erin Byers of Colliers represented the buyer, CP Logistics Miami 95 LLC, in the transaction. Harold Ginsberg from Southern Asset Service Corp. represented the seller, New Dairy Florida LLC, in the transaction. The buyer, which is an entity of Panattoni Development, has plans to redevelop the site into a 126,000-square-foot Class A warehouse. The current tenant for the past 50 years, Borden Dairy, will vacate the site for redevelopment. Construction is slated for completion by late 2023. Located at 501 NE 181st St., the property is situated 19.7 miles from the University of Miami and 15.7 miles from Miami International Airport.

April 13, 2022

Florida Loans Multifamily Southeast

Greystone Provides $11M Fannie Mae Loan to Refinance Multifamily Property in Oakland Park, Florida

by Julia Sanders April 13, 2022

OAKLAND PARK, FLA. — Greystone has provided an $11.1 million Fannie Mae Delegated Underwriting and Servicing (DUS) loan to refinance Oakwood Apartments, a 124-unit multifamily property in Oakland Park. Kyle Jemtrud of Greystone originated the loan on behalf of 61-34 Madison Real Estate LLC. The nonrecourse loan carries a 15-year term and a 30-year amortization period, as well as a fixed interest rate and a 55 percent loan-to-value ratio. Built in 1971, Oakwood Apartments is a garden-style apartment community with four buildings featuring one- and two-bedroom units. Community amenities include an onsite pool and laundry facilities.

April 13, 2022

Acquisitions Florida Office Southeast

Coldwell Banker Commercial Brokers $3.6M Sale of Medical Office Property in Vero Beach, Florida

by Julia Sanders April 13, 2022

VERO BEACH, FLA. — Coldwell Banker Commercial has brokered the sale of a medical and professional office property in Vero Beach. The sales price was $3.6 million. Andrew Gonzalez and Linda Gonzalez of Coldwell Banker Commercial Paradise represented the undisclosed seller in the transaction. Built in 1986, the two-story, 40,000-square-foot building is situated on 4.2 acres of land and has onsite parking. Located at 333 17th St., the property is 79.5 miles from the Palm Beach International Airport.

April 13, 2022

Acquisitions Florida Mixed-Use Southeast

East End, BentallGreenOak Sell Mixed-Use Center in Miami Beach for $52.5M

by Julia Sanders April 12, 2022

MIAMI BEACH, FLA. — In a joint venture, East End and BentallGreenOak have sold 555 Washington, a mixed-use asset in Miami Beach totaling 65,746 square feet of office and retail space. Hermen Rodriguez, Ike Ojala and Matthew McCormack of JLL represented the seller and procured the buyer, a partnership between Greenmont Group and Boston-based Davis. The sales price was $52.5 million. Renovated in 2015, 555 Washington offers 44,516 square feet of creative office space, along with 21,230 square feet of ground-floor retail space. The property was 82 percent leased at the time of sale to 11 tenants, including CVS/pharmacy, Wells Fargo and Warner Music Group. 555 Washington also includes a six-story, 243-space parking garage. 555 Washington is located at the corner of Washington Avenue and 5th Street. The property is also situated 11.9 miles from Miami International Airport and 5.2 miles from downtown Miami.

April 12, 2022

Newer Posts

Older Posts