Florida

East End Capital to Build 12-Story Multifamily Project in Miami’s Wynwood District

by Alex Tostado July 2, 2020

MIAMI — East End Capital has received civic approval to build Foyer Wynwood, a 12-story multifamily project planned for Miami’s Wynwood neighborhood. The project marks the debut of the developer’s co-living brand Foyer, which will operate the co-living segment of the 375,000-square-foot development. The property will feature 236 multifamily residences in both micro-unit and co-living floor plans, as well as coworking space. The City of Miami’s Urban Development Review Board recently approved Foyer Wynwood, which will front North Miami Avenue from 24th and 25th streets. The development will be situated near attractions in Wynwood such as Veza Sur Brewery, The Wynwood Arcade, Oasis, The Salty and the planned Arlo Hotel. Designed by Kobi Karp Architecture & Design, Foyer Wynwood’s community amenities will include a gym, juice and coffee bar, pool deck, chef-kitchen and entertainment space, art studio areas and rooms for recording podcasts and green-screen filming. Monthly rents for co-living bedrooms at the project — which include the furnishings, electricity, common area cleaning and WiFi — are expected to start around $1,500 per month. East End Capital expects to break ground in early 2021.

July 2, 2020

Development Florida Hospitality Southeast

Peachtree Hotel Group Opens 165-Room Element Hotel in Orlando

by Alex Tostado June 30, 2020

ORLANDO, FLA. — Peachtree Hotel Group has opened The Element Orlando Universal Blvd., a 165-room extended-stay Marriott branded hotel in Orlando. The property is located at 8278 Universal Blvd., five miles south of Universal Studios theme park and 10 miles southwest of downtown Orlando. The hotel features studio and one-bedroom suites, which offer microwaves, toaster ovens, mini-fridges, complimentary Wi-Fi, 55-inch TVs and pet amenities such as dog beds and treats. Other amenities offered include a pool, fitness center and a Bikes to Borrow program. Peachtree Hotel Group developed, owns and operates the property.

June 30, 2020

Development Florida Multifamily Seniors Housing Southeast

Atlantic Housing Partners to Open $15M Affordable Seniors Housing Community in Central Florida

by Alex Tostado June 29, 2020

ORANGE CITY, FLA. — Atlantic Housing Partners LLLP will open Parc Hill Senior Living Apartments, an 88-unit affordable seniors housing community in Orange City, later this summer. The $15 million development will have units reserved for residents earning between 40 and 80 percent of the area median income (AMI). The property offers one- and two-bedroom floor plans, and each unit features granite countertops, CleanSteel energy-efficient appliances and screened-in patios. Communal amenities include a clubhouse with dedicated senior resident activities center, Collector’s Edition 1965 Mustang Pool Table, business center, heart-healthy cardio and fitness studio and pedestrian-friendly sidewalks. The community is located at 1010 Skyline Loop, equidistant between Daytona Beach and Orlando. The general contractor was ConcordRents. The project’s financing includes $7.5 million in tax-exempt bonds from the Housing Finance Authority of Volusia County, $5.8 million from the sale of Federal Housing Tax Credits allocated through Florida Housing Finance Corp. and equity from the developer.

June 29, 2020

Florida Industrial Leasing Activity Southeast

Colliers Negotiates 164,432 SF Lease Renewal in Miami for Logistics Company

by Alex Tostado June 24, 2020

MIAMI — Colliers International has negotiated ECU Worldwide’s 164,432-square-foot industrial lease renewal in Miami. The space at 2401 NW 69th St. has been ECU’s long-term home. The new lease is for a period of a little more than eight years and is valued at more than $10 million. ECU specializes in global multi-modal transport and warehousing services. The property is situated eight miles northwest of PortMiami and nine miles north of downtown Miami. Jonathan Kingsley and Ryan Goggins of Colliers represented the tenant in the transaction. Stephen Panos of Annapolis, Md.-based Realterm internally represented the landlord.

June 24, 2020

Development Florida Industrial Southeast

Ace Hardware to Relocate Distribution Center in Metro Tampa, Add 315,000 SF to Industrial Footprint

by Alex Tostado June 23, 2020

PLANT CITY, FLA. — Ace Hardware will relocate its distribution center to Plant City, which will allow the Oak Brook, Ill.-based retailer to add 315,000 square feet to its retail support center. Ace Hardware expects construction to begin in October 2020 with completion slated for November 2021. The general contractor, County Line Farms One LLC, says an estimated 200 construction jobs will be created for the project. Ace Hardware has operated its retail support center in Tampa since 1977. The retail support center currently supports 200 Ace Hardware locations in Florida. The company plans to add 40 jobs to the Plant City location to meet business needs.

June 23, 2020

Development Florida Healthcare Office Southeast

Stevens Construction Breaks Ground on 27,773 SF Medical Facility in Naples, Florida

by Alex Tostado June 23, 2020

NAPLES, FLA. — Stevens Construction has broken ground on Executive Medical Center, a planned 27,773-square-foot healthcare facility in Naples. The first floor of the three-story building will feature medical offices, exam rooms and an MRI machine. The second floor will offer medical office space that will be available for lease beginning in March 2021. The third story will include an ambulatory surgery center with operating and outpatient rooms. The facility will be located at 4513 Executive Drive, adjacent to two medical office buildings and 13 miles north of downtown Naples. A timeline for completion was not disclosed.

June 23, 2020

Company News Florida Southeast

Maskco Technologies, SharperTek to Manufacture 75M Respirator Masks to Combat COVID-19

by Alex Tostado June 23, 2020

MIAMI — Maskco Technolgies Inc. has teamed with SharperTek to create 75 million N95 respirator masks over the next two years beginning in November. Under terms of the agreement, Pontiac, Mich.-based SharperTek will send 56 units of its assembly lines to Maskco Technologies’ production facilities in Miami, where the masks will be produced. The partners are awaiting certification from the National Institute for Occupational Safety and Health (NIOSH). A group of healthcare providers created Maskco Technologies in April when they realized the need for more N95 masks amid the COVID-19 outbreak. SharperTek has been manufacturing automated ultrasonic systems since 2006.

June 23, 2020

Development Florida Mixed-Use Multifamily Southeast Top Stories

Metropica Development Completes 28-Story Residential Tower, First Phase of $1.5B Mixed-Use Project in South Florida

by John Nelson June 23, 2020

SUNRISE, FLA. — Metropica Development LLC, led by Joseph Kavana of K Group Holdings, has completed the first residential tower within Metropica, a $1.5 billion mixed-use project in the South Florida city of Sunrise. The 28-story ONE Metropica Residences comprises 263 condominiums. The City of Sunrise recently issued Metropica Development LLC a temporary certificate of occupancy (TCO) so that move-ins can begin. Metropica is situated adjacent to Simon’s Sawgrass Mills Mall and in close proximity to Interstates 75, 95 and 595, as well as the Florida Turnpike. As of this writing, 75 percent of the units at ONE Metropica Residences have been purchased by buyers hailing from the United States, Latin America, Europe and Asia. The condos range in size from 961 to 2,022 square feet, and the property’s remaining units are priced ranging from the $400,000s to the $700,000s. Buyers of the move-in-ready units can close on their purchase either in-person or virtually. “We are extremely proud to be delivering our first residential building to the market,” says Bernard Werner, president of Metropica Development LLC. Designed by architectural firms Oppenheim Architecture + Design and YOO Design Group, condominiums at ONE Metropica Residences include floor-to-ceiling glass windows, porcelain tile, smart …

June 23, 2020

Development Florida Multifamily Southeast

Roger B. Kennedy Construction Breaks Ground on 342-Unit Apartment Complex in Metro Orlando

by Alex Tostado June 22, 2020

OAKLAND, FLA. — Roger B. Kennedy Construction has broken ground on The Avenue on Oakland, a planned 342-unit apartment complex in Oakland. The community will be located at 17210 Oakland Ave., 18 miles west of downtown Orlando. The property will comprise four four-story buildings, a clubhouse and a pool. The developer, UNICORP National Developments Inc., expects to deliver The Avenue on Oakland in December 2021. Slocum Platts Architects designed the community. The cost of development was not disclosed, although Roger B. Kennedy Construction says it entered a $47 million contract with the developer.

June 22, 2020

Acquisitions Florida Retail Southeast

SRS Brokers $4.7M Sale of New Retail Property Leased to 7-Eleven in Southwest Florida

by Alex Tostado June 22, 2020

FORT MYERS, FLA. — SRS National Net Lease Group has arranged the $4.7 million sale of a retail property leased to 7-Eleven in Fort Myers. The property comprises a 2,961-square-foot convenience store and a gas station. A 15-year lease is in place with 7-Eleven Inc. for the property, which was completed in late 2019. The asset is situated at 6715 Winkler Road, seven miles south of downtown Fort Myers. Parker Walter of SRS represented the buyer, a California-based private investor that was in a 1031 exchange, in the transaction. Frank Rogers and Michael Carter of SRS represented the seller, an undisclosed Florida-based developer.

June 22, 2020

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