Florida

Terra, Turnberry Top Out 17-Story Grand Hyatt Miami Beach Hotel

by John Nelson July 30, 2026

MIAMI BEACH, FLA. — Terra and Turnberry, along with general contractor Balfour Beatty, have topped out Grand Hyatt Miami Beach, a 17-story, 800-room hotel underway in Miami Beach. The hotel tower will be connected to the newly renovated Miami Beach Convention Center via a climate-controlled sky bridge upon completion. Designed by Arquitectonica, Grand Hyatt Miami Beach will feature 12 floors of hotel rooms, as well as four floors of meeting and ballroom space totaling 110,000 square feet, including the 8,000-square-foot Grand Lawn on the fifth-floor amenity deck. The hotel will include a signature restaurant, lobby lounge and bar and 17,000 square feet of ground-level retail space, as well as two resort-style pools and a fitness center with a spa treatment room. The development team plans to deliver the hotel in late 2027. Last year, Terra and Turnberry secured $392 million in construction financing for the project.

July 30, 2026

Florida Loans Office Southeast

JLL Arranges $55.7M Loan for Portion of Midtown East Office Tower in Tampa

by John Nelson July 30, 2026

TAMPA, FLA. — JLL has arranged a $55.7 million loan for 143,354 square feet of office and retail space within Midtown East, an 18-story office tower in Tampa. The property was delivered in April 2025 and represents the third and final office tower within Midtown Tampa District, a 22-acre mixed-use campus that also features a Whole Foods Market, REI, Shake Shack, 700 apartments and an Aloft/Element hotel. Ed Coco, Evan Pariser, Lee Weaver and Matt Casey of JLL arranged the loan through Valley Bank on behalf of the borrower, a 50/50 joint venture between Highwoods Properties and The Bromley Cos. The office floors owned by the borrower at Midtown East were fully leased at the time of financing to tenants in the professional services, technology, staffing, real estate and insurance sectors. The financing also covered the ground-floor retail space that is ideally suited for a future restaurant. Tampa Electric Company, a subsidiary of TECO Energy, owns 11 floors of the building that were not included in the refinancing.

July 30, 2026

Development Florida Multifamily Southeast

Capstone Begins Construction on 270-Unit Gateway Apartments in Orlando

by John Nelson July 29, 2026

ORLANDO, FLA. — Capstone Building Corp. has begun construction on The Gateway, a 270-unit luxury apartment community located at 7250 Shadowridge Drive in Orlando. The design-build team includes developer JBL Development LLC and architect Baker Barrios Architects. Located near Airport Lakes Park, the five-story, gated community features smart studio, junior one-bedroom, and one-, two- and three-bedroom floorplans. Amenities will include a heated saltwater pool with private cabanas, outdoor kitchens and fire pits, indoor and outdoor coworking lounges, a fitness center with outdoor fitness equipment, pickleball court, bark park, pet spa and a clubhouse featuring a restaurant and bar, market, tenant kitchen and leisure spaces. The development team expects to deliver The Gateway in late 2027.

July 29, 2026

Acquisitions Florida Georgia Industrial Southeast

JLL Arranges Sale of 2.4 MSF Industrial Portfolio in Florida, Georgia

by John Nelson July 28, 2026

MIAMI — JLL has arranged the sale of a three-property industrial portfolio spanning 2.4 million square feet in Florida and Georgia. EQT Real Estate purchased the portfolio from the undisclosed seller. The sales price was also not disclosed. The properties in the portfolio include a 605,412-square-foot facility in Lakeland, Fla., an 817,680-square-foot property in Jacksonville and a 1 million-square-foot building in Pooler, Ga., a suburb of Savannah. Built in 2015 on average, the fully leased properties feature 34-foot average clear heights and a variety of dock configurations. John Huguenard, Trent Agnew, Will McCormack, Cole Johnston, Tara Hagerty, Britton Burdette, Luis Castillo, Pete Pittroff, Jim Freeman, Cody Brais and Dave Andrews of JLL represented the seller in the transaction.

July 28, 2026

Acquisitions Development Florida Industrial Southeast

FRP Acquires 24 Acres in Broward County, Plans 300,000 SF Logistics Development

by Abby Cox July 27, 2026

SOUTHWEST RANCHES, FLA. — FRP Development Corp. has acquired 24 acres in Southwest Ranches, a town in South Florida’s Broward County. FRP plans to develop Logistics Center at Southwest Ranches, a planned 300,000-square-foot industrial facility, at the site. The project is expected to include 36-foot clear heights, dock-high loading, expansive truck courts, trailer parking and flexible configurations, and will be designed to serve logistics, manufacturing and regional distribution users. Completion of the development is anticipated for 2028. Further details of the timeline were not disclosed. Tenants at Logistics Center at Southwest Ranches will have nearby access to Port Everglades, Port Miami, Miami International Airport, Fort Lauderdale-Hollywood International Airport and the Florida East Coast Railway’s intermodal network.

July 27, 2026

Acquisitions Florida Retail Southeast

SRS Real Estate Brokers $7.9M Sale of Retail Strip Center in Wesley Chapel, Florida

by Abby Cox July 27, 2026

WESLEY CHAPEL, FLA. — SRS Real Estate Partners has brokered the $7.9 million sale of Promenade, a three-tenant retail property located in Wesley Chapel, roughly 24 miles north of downtown Tampa. Built in 2025, the 9,222-square-foot property was fully leased at the time of sale to Heartland Dental, GoodVets and Ann’s Salon & Spa. William Wamble, Patrick Nutt and Connor Barton of SRS represented the seller, a Florida-based developer and investor, in the transaction. The all-cash buyer was a Florida-based investor.

July 27, 2026

JACP-Center-Point-Business-Park-Aerial-22

Acquisitions Florida Industrial Southeast

Merritt Properties Acquires 11-Building Industrial Park in Jacksonville

by Abby Cox July 24, 2026

JACKSONVILLE, FLA. — Merritt Properties has acquired Center Point Business Park, an 11-building, 537,800-square-foot light industrial park located in Jacksonville’s Butler corridor near the Florida East Coast Railway. According to the Jacksonville Business Journal, Merritt Properties purchased the campus for $89.8 million. This latest office park acquisition marks Merritt’s first major transaction after receiving a $750 million investment led by Centerbridge Partners to boost its long-term growth strategy. Royce Rose and Justin Rabin of CBRE represented the seller, Plymouth REIT, in the transaction. Spencer Cummings and Cassidy Bergstrom led Gunster’s legal team in representing Merritt Properties. Situated at 4801-6631 Executive Park Court, Center Point Business Park was 99 percent leased at the time of sale to 35 tenants. The property features 18- to 22-foot clear heights, rear-load configurations, dock-high loading, concrete tilt-wall construction, 107 dock doors and 1,005 parking spaces. On average, tenant spaces are approximately 15,100 square feet. In addition to its existing portfolio, Merritt owns land at Imeson Landing Business Park and Oakleaf Commerce Center in Jacksonville, where future light industrial development is planned.

July 24, 2026

Development Florida Self-Storage Southeast Virginia

Space Shop Underway on Three Self-Storage Properties in Florida, Virginia Totaling 2,088 Units

by John Nelson July 23, 2026

ATLANTA — Space Shop Self Storage has three self-storage properties underway in Florida and Virginia totaling 2,088 units. With these projects, the Atlanta-based firm is nearing 80,000 units under management across more than 100 facilities. The newly announced properties include a 715-unit facility located at 134 Mason Ave. in Holly Hill, Fla.; a 668-unit property at 480 Cogan Drive SW in Palm Bay, Fla.; and a 705-unit facility located at 10265 Lakeridge Parkway in Glen Allen, Va. The projects span a combined 297,000 square feet and represent a total investment of $40 million. Space Shop plans to deliver all three properties in spring 2027.

July 23, 2026

Development Florida Hospitality Multifamily Southeast

Partnership Breaks Ground on Apartment Tower, Marriott Hotel in Downtown West Palm Beach

by John Nelson July 22, 2026

WEST PALM BEACH, FLA. — A partnership comprising LD&D, IGEQ and FrontRange Capital Partners has broken ground on a 21-story apartment tower and hotel in downtown West Palm Beach. The properties, the 181-unit Alida Residences and the 112-room Tribute Portfolio hotel by Marriott, will be developed simultaneously as separate residential and hospitality properties. The developers assembled the three parcels for the two buildings in 2019. The site is located directly adjacent to a Brightline station and near the future campus for Vanderbilt University. Alida Residences will offer a mix of studio, one-, two- and three-bedroom units ranging in size from 500 to 2,000 square feet, as well as a rooftop pool deck on the 21st floor. Both Alida Residences and the Tribute Portfolio hotel by Marriott are expected to open in 2028.

July 22, 2026

Acquisitions Florida Retail Southeast

TSCG Arranges $20.7M Sale of Publix-Anchored Shopping Center in Jacksonville

by John Nelson July 22, 2026

JACKSONVILLE, FLA. — TSCG has brokered the $20.7 million sale of The Plaza at Normandy, a Publix-anchored shopping center located at the intersection of Normandy Boulevard and Chaffee Road South in Jacksonville. An unnamed 1031 exchange buyer purchased the 58,691-square-foot center from the developer, Wagner Property Group. Anthony Blanco, Mallory Silva and Spencer Kinsella of TSCG represented the seller in the transaction, and Laurie Ann Drinkwater of Marcus & Millichap represented the buyer. Built in 2024, The Plaza at Normandy was fully leased at the time of sale to Publix, Publix Liquor Store, Xtreme Wings, Hair Cuttery, Nail Art Studio & Spa, The UPS Store and AT&T Wireless. The shopping center includes outparcels for McDonald’s and Wawa that were not part of the sale.

July 22, 2026

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