Florida

Bristol Development, Hallmark Partners to Build Mixed-Use Project in Jacksonville

by Alex Tostado November 28, 2018

JACKSONVILLE, FLA. — Bristol Development Group and Hallmark Partners plan to develop Vista Brooklyn, a mixed-use project in Jacksonville that will include 308 apartments and 13,000 square feet of retail space. Located in Jacksonville’s Brooklyn neighborhood, the project will feature a dog park and rooftop pool for residents. Construction is expected to begin in January and wrap up in February 2021. Nashville-based Bristol and Jacksonville-based Hallmark originally partnered in 2012 to build the 220 Riverside apartments in Jacksonville.

November 28, 2018

Acquisitions Florida Georgia Multifamily North Carolina Property Type South Carolina Southeast Top Stories

Carroll Organization, PGIM Acquire $600M, 13-Property Multifamily Portfolio in Southeast

by David Cohen November 28, 2018

ATLANTA — Carroll Organization and PGIM Real Estate have acquired three multifamily portfolios in the metro areas of Raleigh-Durham, N.C.; Ponte Vedra Beach, Fla.; and Charleston, S.C. valued at $600 million. The combined properties total 4,043 residential units. The three acquisitions by the joint venture include an eight-property, 2,883-unit portfolio in Raleigh-Durham; a two-property, 480-unit portfolio in Ponte Vedra Beach; and a three-property, 680-unit portfolio in Charleston. The sellers and price were not disclosed. “These latest portfolio acquisitions are consistent with PGIM Real Estate’s strategy to pursue workforce housing investments in well-located, pro-business metropolitan markets with a limited supply of apartments and a robust demand for affordable housing options,” said Alfonso Munk, Americas chief investment officer for PGIM Real Estate. “Our ongoing partnership with Carroll Organization will enable us to create an enhanced living experience for the residents at these 13 communities, while delivering compelling, supply-resistant investment opportunities to our investors.” The acquisitions were led by Jim Mehalso, Atlanta-based managing director and head of Southeast Transactions at PGIM Real Estate, and Josh Champion, president and chief investment officer for Atlanta-based Carroll Organization. The transactions mark the fifth joint venture between PGIM Real Estate and Carroll Organization since December 2017. To …

November 28, 2018

Acquisitions Florida Industrial Southeast

Terreno Realty Sells 25,000 SF Industrial Property in Miami for $4.3M

by Alex Tostado November 27, 2018

MIAMI — Terreno Realty Corp. has sold an industrial property in Miami to an undisclosed buyer for $4.3 million. The property consists of one light industrial building totaling approximately 25,000 square feet on 1.2 acres, which was fully leased at the time of the sale to one tenant on a short-term basis.

November 27, 2018

Development Florida Multifamily Southeast

Altman Cos. Tops Off Nine-Story Apartment Building in Tampa

by Alex Tostado November 26, 2018

TAMPA, FLA. — The Altman Cos. has topped out Altis Grand Central, a nine-story apartment building that will offer studio, one- , two- and three-bedroom floor plans. The community is located less than one mile south of the University of Tampa and will include amenities such as a sky lounge and pool on the roof, Zen garden, dog park and a clubroom. The 314-unit complex is scheduled to be complete in summer 2019.

November 26, 2018

Development Florida Office Southeast

Pipeline Workspaces Opens Downtown Tampa Coworking Location

by Alex Tostado November 26, 2018

TAMPA, FLA. — Pipeline Workspaces, a shared workspace concept, has opened a new location in downtown Tampa. Pipeline Tampa occupies the 15th floor of Park Tower, which is located at 400 N. Tower St., across from The Tampa Riverwalk. Pipeline Tampa is Pipeline Workspace’s seventh location and sixth in Florida, joining offices in Brickell, Coral Gables, Doral, Fort Lauderdale and Orlando. Pipeline also has a location in Philadelphia. Amenities for Pipeline members include high-speed internet, color printer/copiers, access to conference rooms, mailboxes, a kitchen and complimentary coffee and tea.

November 26, 2018

Florida Leasing Activity Mixed-Use Southeast

Stiles, Shorenstein Sign GreenWise at Mixed-Use Project in Downtown Fort Lauderdale

by Alex Tostado November 21, 2018

FORT LAUDERDALE, FLA. — Joint venture partners Fort Lauderdale-based Stiles and San Francisco-based Shorenstein Properties LLC have signed Publix Super Markets to a lease for its GreenWise Market brand at The Main Las Olas in downtown Fort Lauderdale. GreenWise Market is a specialty, natural and organic store featuring a variety of house-prepared meals and grab-and-go items. The Main Las Olas is under construction and will include a 25-story office building, 341-unit residential tower and ground-floor retail spanning a city block. GreenWise Market will occupy 28,000 square feet of ground-floor retail space. The Main Las Olas is slated to be completed in fall 2020.

November 21, 2018

Acquisitions Florida Retail Southeast

Collett Capital, Long Wharf Capital Acquire Orlando Shopping Center for $26.2M

by Alex Tostado November 21, 2018

ORLANDO, FLA. — Collett Capital and Long Wharf Capital have acquired a 186,000-square-foot shopping center in Orlando for $26.2 million. International Drive Value Center is located six miles from downtown Orlando, about nine miles northeast of Walt Disney World and less than one mile southeast of Universal Studios. The shopping center was 95 percent leased at the time of the sale to tenants such as Bed Bath & Beyond, Ross Dress for Less, T.J. Maxx, dd’s DISCOUNT, Five Below and Dollar Tree. Brad Peterson, Whitaker Leonhardt and Michael Brewster of HFF represented the seller, Retail Value Inc. Travis Anderson, Cory Fowler and Rebcca Van Reken, also of HFF, placed $18.9 million in acquisition financing for the buyers.

November 21, 2018

Acquisitions Florida Retail Southeast

PEBB Enterprises, Pebb Capital Sell Shopping Center in South Florida to MetLife for $74M

by Alex Tostado November 20, 2018

WELLINGTON, FLA. — PEBB Enterprises and Pebb Capital have sold the Shoppes at Isla Verde, a 207,030-square-foot shopping center in South Florida’s Palm Beach County, to MetLife Investment Management for approximately $74 million. The Shoppes is situated on a 22-acre, four-parcel land assemblage in Wellington, a village in central Palm Beach County. Completed by PEBB Enterprises in 2008, the center was 94.2 percent occupied at the time of the sale to several national retailers, including CVS/pharmacy, Best Buy, Old Navy, Petco, Panda Express, Chipotle Mexican Grill and Ulta Beauty. PEBB Enterprises announced in July that Sprouts Farmers Market will also join the tenant roster. PEBB Enterprises, founded in 1972, is a family-owned and operated real estate investment company based in Boca Raton, Fla. Pebb Capital spun off of PEBB Enterprises in 2014. Daniel Finkle, Luis Castillo and Eric Williams of HFF represented the sellers in the transaction.

November 20, 2018

Acquisitions Florida Multifamily Southeast

Bell Partners Acquires Multifamily Community in Broward County for $67M

by Alex Tostado November 20, 2018

PLANTATION, FLA. — Bell Partners has purchased Broadstone Plantation, a 250-unit community located about eight miles from Fort Lauderdale in Plantation. Triad Business Journal reports the sales price was $67 million. The complex has been renamed Bell at Plantation and will be managed by Greensboro, N.C.-based Bell Partners. Bell at Plantation comprises five-story midrise buildings and three-story garden buildings with one- , two- and three-bedroom options. Amenities include a clubhouse, theater room, fitness center and a pool. The seller was undisclosed.

November 20, 2018

Acquisitions Florida Office Southeast

ICM Realty Sells Office Building in Boca Raton for $21.5M

by Alex Tostado November 20, 2018

BOCA RATON, FLA. — ICM Realty has sold the Atrium at Broken Sound, a 97,584-square-foot, Class A office building in Boca Raton, to Alchemy-ABR Investment Partners and Breakers Capital Partners LLC for $21.5 million. The Atrium was built in 1986 on eight acres within The Park at Broken Sound, a 700-acre mixed-use development that offers residential options, shopping, cafes and a golf course. Schwartz Sladkus Reich Greenberg Atlas LLP represented the buyers in the transaction.

November 20, 2018

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