Florida

MIAMI — AJP Ventures and Mas Group will break ground on MedSquare Health, a 116,000-square-foot, three-story medical facility in the Baptist Hospital of Miami submarket in Miami. The $40 million building will be situated at 9408 S.W. 87th Ave., about two miles from Baptist Hospital of Miami. Amenities will feature valet parking, an adjoined two-story parking garage, conference room space and an on-site café. MedSquare Health will be the first Class A, off-campus facility to be built in the submarket in 20 years. Modis Architects designed the building and Iberia Bank provided funding for the project. Cushman & Wakefield will handle leasing efforts.

FacebookTwitterLinkedinEmail

MIAMI — NAI Miami has negotiated an 88,011-square-foot industrial lease on behalf of Senator International Freight Forwarding LLC at 10505 N.W. 112th Ave. in Miami. The facility is situated about 20 miles west of downtown Miami. Devin White of CBRE represented the landlord, FS Building 30 LLC, in the lease transaction. Senator International Freight Forwarding specializes in international shipping and logistics with a focus on air and sea freight, as well as on logistics, packaging and customs services.

FacebookTwitterLinkedinEmail

BATON ROUGE, LA. — Wetlands mitigation banking has established a track record of success in restoring and preserving crucial ecosystems in many states during the past several decades, while helping smooth the way for commercial development. And as the proven system is positioned to grow and expand, it deserves to be more widely known and recognized, according to a leader in the field overseeing restoration of thousands of acres throughout the South. A mitigation bank is a site that has potential and natural attributes but may have been altered or damaged through overuse or abuse such as ditching, drainage or logging that changed the landscape. Restoring land to function as part of a healthy ecosystem as nature intended takes time and money, planning and preparation. Commercial development relies heavily on mitigation banks in states like Florida where population growth requires land and much of the land is environmentally vulnerable, laced with creeks, rivers, wetlands and woods. One of the pioneers in wetlands mitigation banking, Baton Rouge-based EcoSystem Renewal LLC, has successfully helped restore vulnerable sites throughout Florida, Louisiana and Texas, particularly along the fragile Gulf Coast. The company has a turn-key approach that oversees projects, including dealing with regulatory agencies, and takes the risk of mitigation away from …

FacebookTwitterLinkedinEmail

MIAMI — Avison Young has arranged two leases totaling 184,718 square feet. within Dolphin Commerce Center in Miami. Roca Tile USA signed a 134,383-square-foot lease renewal and expansion, adding 25,745 square feet to its footprint within the business park. FastKit Corp., a custom packing and printing company, renewed its 50,335-square-foot lease. Dolphin Commerce Center spans 750,000 square feet about 15 miles west of downtown Miami and about 10 miles west of Miami International Airport.

FacebookTwitterLinkedinEmail

FORT LAUDERDALE, FLA. — Houston-based development firm Morgan and JPMorgan Asset Management have opened Pearl Flagler Village, a 350-unit apartment complex in Fort Lauderdale’s Flagler Village neighborhood. Morgan acted as the developer and JPMorgan the financial advisers. Amenities include a media lounge, presentation kitchen, fitness center with a yoga studio, mailroom with parcel lockers, swimming pool, dog park and an AquaLounge with cabanas and fire pits. The property offers studio, one-, two- and three-bedroom floor plans. Pearl Flagler Village is situated at 400 NE 3rd Ave., less than a mile from downtown Fort Lauderdale. The property also enjoys proximity to FATCity (Flagler Arts and Technology City), a mixed-use project under construction that will include 612 residential units, 85,000 square feet of retail space, 270,000 square feet of commercial space and more than 1,300 parking spaces. 

FacebookTwitterLinkedinEmail

MIAMI BEACH, FLA. — Host Hotels & Resorts Inc. (NYSE: HST) has purchased 1 Hotel South Beach, a 429-room hotel and resort in Miami’s South Beach neighborhood. A partnership between Starwood Capital Group and LeFrak sold the property for $610 million, or a little over $1.4 million per room. Hodges Ward Elliot represented Starwood Capital and LeFrak in the sale. The property features 600 linear feet of ocean frontage and has direct beach access, as well as four pools with elevated decks that provide ocean views. SH Hotels & Resorts, an affiliate of Starwood Capital, will continue to operate and manage the 1.1 million-square-foot property as 1 Hotel South Beach. “We are excited about the opportunity to acquire one of the absolute best luxury hotels in the country and partner with SH Hotels & Resorts as our operator,” says James Risoleo, president and CEO of HST. “1 Hotels is redefining the luxury hotel industry and we could not be more proud to own its flagship hotel. We look forward to being a big part of the brand’s future growth.” Starwood Capital acquired the 1970s-era beachfront hotel in 2012 and executed a $300 million overhaul, including adding 155 condominiums and updating the …

FacebookTwitterLinkedinEmail

FORT LAUDERDALE, FLA. — Cushman & Wakefield has arranged the $29.2 million sale of Lakeshore Business Center, a four-building office park in Fort Lauderdale. The business center is located at 5100 and 5200 NW 33rd Ave. and 3201-3125 W. Commercial Blvd., about seven miles north of downtown Fort Lauderdale. Mike Davis, Scott O’Donnell, Dominic Montazemi, Greg Miller, Rick Brugge and Michael Lerner of Cushman & Wakefield represented the seller, Morning Calm Management, in the transaction. Miami-based YMP Real Estate purchased the asset, which was 79 percent leased at the time of the sale.

FacebookTwitterLinkedinEmail

CELEBRATION, FLA. — CGI Strategies has acquired Sola at Celebration, a vacant 306-unit apartment complex in Celebration. Shortly after the seller, Southstar, acquired the property in 2016, construction defects were discovered that resulted in the property being vacated by order of the Osceola Building Department. With repairs for the property already engineered and approved by Osceola County, CGI will immediately begin correcting the deficiencies and anticipates that the community will be back to normal operations by the end of this year. Los Angeles-based CGI will rebrand the community as Astoria at Celebration. The complex will offer one-, two- and three-bedroom floor plans across six four-story buildings. Amenities include an internet café, fitness center, outdoor summer kitchens and a dog park.

FacebookTwitterLinkedinEmail

PLANTATION, FLA. — A partnership led by Azor Advisory Services Inc. has broken ground on the redevelopment of an office building in Plantation. Phase I — set for completion in early 2020 — will feature 6,400 square feet of retail space occupied by Starbucks Coffee. The initial phase is being built on an empty piece of land on the south end of the property. Phase II — which will include bulldozing the existing office building — is expected to break ground in September. Plans have not been finalized for what will take the office building’s place, but Beth Azor of Azor Advisory Services says it will likely be retail-oriented. Lombardi Development will act as general contractor for the project.

FacebookTwitterLinkedinEmail

ST. PETERSBURG, FLA. — Bainbridge Cos. has delivered 930 Central Flats, a 218-unit multifamily complex in St. Petersburg’s Edge District. The Tampa Bay area project also includes underground parking, ground-floor amenities and five stories of apartments. The complex offers studio, one- and two-bedroom floor plans and amenities including a beach-style swimming pool, sun decks, barbecue grills and lounge seating, dog spa, rooftop garden and community dining tables. The site is situated less than a mile from downtown St. Petersburg and Tropicana Field, home of the Tampa Bay Rays.

FacebookTwitterLinkedinEmail