Thursday, June 26, 2025
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AcquisitionsFloridaHospitalitySoutheast

Marcus & Millichap Negotiates Sale of Holiday Inn Melbourne Viera Hotel on Florida’s Space Coast

by John Nelson

MELBOURNE, FLA. — Marcus & Millichap has negotiated the $13.5 million sale of Holiday Inn Melbourne Viera, a 128-room hotel located off I-95 in Melbourne, a city on Florida’s Space Coast. Situated on 7.2 acres near the USSSA Space Coast Sports Complex and Patrick Space Force Base, the five-story hotel was built in 1991 and features 7,800 square feet of meeting space, an onsite restaurant, business center, fitness center and an outdoor pool. Robert Hunter and Leo Reilly of Marcus & Millichap’s Fort Lauderdale office represented the seller and procured the buyer in the transaction. Both parties requested anonymity.

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AcquisitionsFloridaMultifamilySoutheast

BMC Investments Purchases 312-Unit Apartment Community in West Jacksonville

by John Nelson

JACKSONVILLE, FLA. — Denver-based BMC Investments has acquired The Finley, a 312-unit apartment community located at 9541 103rd St. in west Jacksonville. The sales price was not disclosed, but the Jacksonville Daily Record reports the property traded for $37 million. The three-story property — which was 95 percent occupied at the time of sale — features one-, two-, and three-bedroom apartments ranging in size from 775 square feet to 1,305 square feet, according to Apartments.com. Amenities at the property include a swimming pool, fitness center, clubhouse, car wash area, package services and walking trails. BMC plans to renovate a quarter of The Finley’s units with new flooring and cabinets. This deal marks BMC’s first acquisition in the state of Florida. Erik Bjornson and Tyler Nilsson of Institutional Property Advisors (IPA) brokered the sale.

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AcquisitionsFloridaMultifamilySoutheast

Carter Multifamily Acquires Apartment Community in Melbourne, Florida for $37.7M

by John Nelson

MELBOURNE, FLA. — Carter Multifamily, a Carter Funds company, has acquired Mode at Melbourne, a 166-unit garden-style multifamily community on Florida’s Space Coast, for $37.7 million. The seller was not disclosed. Originally built in 2020, Mode at Melbourne spans approximately 218,592 rentable square feet and was 94 percent occupied at the time of sale. The complex features one-, two- and three-bedroom floorplans ranging in size from 1,219 square feet to 1,853 square feet. Amenities include a resort-style pool and sundeck, fitness center, resident clubroom, playground, electric vehicle charging stations, car care center, dog park and select units with water views. Carter Multifamily plans to renovate the property with interior and exterior upgrades, operational efficiency improvements and a revitalization of branding. Allegiant-Carter Management, the in-house property manager of Carter Funds, will oversee day-to-day operations at Mode at Melbourne.

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AcquisitionsFloridaIndustrialSoutheast

LPC, Walton Street Capital Buy Distribution Center in South Florida for $43.8M

by John Nelson

WESTON, FLA. — A joint venture between Dallas-based Lincoln Property Co. (LPC) and Chicago-based Walton Street Capital has acquired a 226,392-square-foot distribution center located at 1600 N. Park Drive in Weston, a city in South Florida’s Broward County. Munich-based Manova Partners sold the property for $43.8 million. José Lobón, Trey Barry, Frank Fallon, Royce Rose, George Fallon, Gabriel Braun and Daniel Sarmiento of CBRE represented the seller in the transaction. LPC will provide property management services and construction oversight for the distribution center, which was partially leased at the time of sale to Mondelēz International Inc., a global food-and-beverage distributor based in Chicago.

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AcquisitionsFloridaSoutheastStudent Housing

CAPREIT Acquires 800-Bed Student Housing Community Near Florida Gulf Coast University

by John Nelson

FORT MYERS, FLA. — CAPREIT has acquired Coastal Village, an 800-bed student housing community located near the Florida Gulf Coast University campus in Fort Myers. The acquisition marks the North Bethesda, Md.-based firm’s entry into the student housing sector. Coastal Village was developed in 2004 at 19401 Skidmore Way and offers fully furnished units in four-bedroom configurations. Shared amenities include a pool, fire pit, resident lounge, coffee bar, private study spaces and a fitness center. The seller and terms of the transaction were not released.

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AcquisitionsFloridaRestaurantRetailSoutheast

SRS Brokers $4.1M Sale of Restaurant in Spring Hill, Florida Leased to Chipotle

by John Nelson

SPRING HILL, FLA. — SRS Real Estate Partners has brokered the $4.1 million sale of a new restaurant located at 10377 County Line Road in Spring Hill, about 50 miles north of Tampa. Chipotle Mexican Grill leases the 2,489-square-foot property on a 20-year, corporate-guaranteed lease. The restaurant is an outparcel to Seven Hills Center, a shopping center anchored by Publix, and is situated a half-mile from Tampa General Hospital Spring Hill. Patrick Nutt and William Wamble of SRS represented the seller, a developer based in Florida, in the transaction. A private investment firm based in Colorado purchased the restaurant at a 4.66 percent cap rate.

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DevelopmentFloridaIndustrialLeasing ActivitySoutheast

Merritt Properties Fully Leases Phase II of Imeson Landing Business Park in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — Merritt Properties has fully leased the second phase of Imeson Landing Business Park, an industrial park in Jacksonville that will span nearly 400,000 square feet upon completion. The first two phases of Imeson Landing house 24 tenants whose spaces range from 3,000 to 30,000 square feet in size. Merritt is planning to soon launch Phase III, which will add 120,000 square feet of new industrial space to the park along Zoo Parkway.

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FloridaLeasing ActivityOfficeSoutheast

Blanca CRE Arranges 51,484 SF Office Lease in Miami for Verizon

by John Nelson

MIAMI — Blanca Commercial Real Estate (Blanca CRE) has arranged a 51,484-square-foot office lease for Verizon in Miami. Juan Ruiz, Andres del Corral, Jack Davidson, Tere Blanca and Jessy Aguila of Blanca CRE represented the property’s ownership, a joint venture between Nuveen Real Estate and PIMCO Prime Real Estate, which acts on behalf of Allianz insurance companies. John Marshall and Josh Kuriloff of Cushman & Wakefield represented Verizon in the lease negotiations. Verizon’s new space will be situated within Waterford Business District, a 250-acre campus that comprises more than 3 million square feet of office space.

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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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