TAMPA, FLA. — Marcus & Millichap has arranged the $12.6 million sale of the 86-room Hampton Inn Tampa-Airport North. Jonathan Ruprai of Marcus & Millichap arranged the transaction on behalf of the undisclosed seller and procured the buyer, a Canadian investment group. The five-story hotel, located seven miles from Tampa International Airport, features complimentary breakfast, a business center, meeting space, fitness center and a free airport shuttle.
TAMPA, FLA. — ESJ Capital Partners LLC has sold University Park Business Center, a 99,154-square-foot medical office building in Tampa, for $18 million. The building is located at 4001 E. Fowler Ave., directly across from the University of South Florida (USF) campus and within one mile of four major hospitals. The property is home to tenants including Quest Diagnostics, Moffit Cancer Center and USF. The name of the buyer was not disclosed.
JUPITER, FLA. — SRS Real Estate Partners has arranged the $8.1 million sale of a vacant, freestanding retail building in Jupiter, a city on Florida’s southeastern coast. Home Depot USA acquired the 38,000-square-foot asset and will use the site as an expansion and redevelopment of the Home Depot store currently onsite. Sports Authority previously occupied the property. Matthew Mousavi, Patrick Luther, John Artope and Michael Weiss of SRS arranged the transaction on behalf of the seller, Indiantown Road LLC. Corporate Property Dispositions and The Rotella Group Inc. represented Home Depot. Walgreens, PetSmart, Winn-Dixie and Pep Boys neighbor the property.
TAMPA, FLA. — Bromley Cos. has unveiled plans for the first office building within the $500 million Midtown Tampa project in Tampa. The 140,000-square-foot, seven-story office building — dubbed Midtown One — will be the first of three office projects within the development. Midtown One will feature valet service, a full-service concierge and a pedestrian sky bridge connecting the building to Midtown Tampa’s retail and residential components. At full build-out, Midtown Tampa will include 1.8 million square feet of retail, residential, office, entertainment and hospitality space. Whole Foods Market will anchor the retail portion of the project. Cushman & Wakefield is overseeing the office leasing for the development. Bromley will break ground on Midtown One in early 2019, with completion scheduled for late 2020.
CORAL SPRINGS, FLA. — Cushman & Wakefield has arranged a 105,642-square-foot industrial lease with Aldora Aluminum & Glass Products at 4520 Coral Ridge Drive in Coral Springs, a city in northern Broward County. Richard Etner Jr., Chris Metzger, Christopher Thomson and Matthew McAllister of Cushman & Wakefield negotiated the lease on behalf of the building owner, Exeter Property Group. MJ Ridenour of Coldwell Banker Commercial NRT represented Aldora. The manufacturer produces a full line of glass, mirror, window and façade products, including hurricane-resistant aluminum storefronts and entry systems. The company is currently headquartered in Miramar, but will relocate its operations to the Coral Ridge Drive facility by summer 2019. Exeter is renovating the facility, formerly known as the Alliance Building, to modern institutional standards. The existing 193,211-square-foot building will be part of a four-building, 567,846-square-foot distribution development known as Coral Springs Commerce Center II.
MIAMI — Property Markets Group has received a $106 million refinancing for X Miami, a 464-unit multifamily community in downtown Miami. Pacific Western Bank provided the financing, which will pay off an existing $80 million construction loan from Centennial Bank. The 31-story tower that recently opened features units with floor-to-ceiling windows, large balconies, built-in closets, Nest thermostats and Alexa smart controls. X Miami also offers a Rent-By-Bedroom program for a private bedroom and bathroom with roommates starting at $1,300. X Miami, which is located at 230 NE 4th St., is the first South Florida project to launch under PMG’s new multifamily housing division called X Social Communities. The division aims to bring community-driven, tech savvy projects to market with attainable rents. X Social Communities specializes in shared spaces designed to connect residents and promote a community environment. PMG is planning more than 10,000 units for the X Social Communities portfolio across the United States over the next five years. X Chicago, X Las Olas (Fort Lauderdale) and X Denver were all recently announced. Luis Flores, Rebecca Abrams Sarelson and Louis P. Archambault of Saul Ewing Arnstein & Lehr Attorneys represented PMG in the transaction. “X Miami is the second project we have closed for PMG …
FORT LAUDERDALE, FLA. — RISE: A Real Estate Co. has started construction on a 608-bed mixed-use development on the Nova Southeastern University campus in Fort Lauderdale. The 310,000-square-foot property will offer 280 units for upperclassmen at the site of the university’s former intramural soccer field. The community will include one-, two- and four-bedroom student apartments with full kitchens and in-unit washers and dryers, and each floor will include lounges and study rooms. The property will also feature an on-site innovation center, which will serve as a business incubator for students, as well as outdoor amenities including hammocks, table tennis and barbecue grills. Juneau Construction Co. is the project’s general contractor, and Niles Bolton Associates is the architect. The community is scheduled to open in summer 2019.
ORLANDO, FLA. — CBRE has arranged $30.8 million in permanent financing for the acquisition of the Siemens Energy Americas headquarters building in Orlando. The 255,677-square-foot office building is located adjacent to the University of Central Florida’s campus. Zac Brumbaugh of CBRE arranged the loan through a life insurance company on behalf of the borrower, a private international fund managed by Stockbridge Capital Group. Ron Rogg and Chip Wooten of CBRE arranged the $61.5 million sale on behalf of the seller, Siemens. Siemens Energy — one of the four sectors of Siemens — generates and delivers power from numerous sources including the extraction, conversion and transport of oil and natural gas in addition to renewable and alternative energy sources.
MIAMI — Berkadia has arranged a $45.8 million bridge loan for the acquisition of River Oaks Marina & Tower, a 199-unit apartment community located along the Miami River at 1951 N.W. S. River Drive in Miami. Charles Foschini and Christopher Apone of Berkadia arranged the three-year, floating-rate loan through a correspondent life company on behalf of the buyer, a Miami-based real estate investment firm. The new ownership will use proceeds of the loan to modernize the 20-story community and update its amenity base. River Oaks Marina & Tower offers a mix of one-, two- and three-bedroom units ranging in size from 720 square feet to 1,942 square feet. Community amenities include a clubhouse, pool, business center and a barbecue/picnic area.
PORT CHARLOTTE, FLA. — DSH Hotel Advisors has arranged the $7 million sale of a Microtel Inn & Suites by Wyndham in Port Charlotte. Dennis Hopper of DSH Hotel Advisors represented both the seller, Interdevco, and the buyer, Maingate East Development, in the transaction. The Microtel Inn & Suites features a business center, fitness center, complimentary breakfast, free Wi-Fi, outdoor pool and meeting rooms. The hotel is located near the Charlotte County Historical Center, Bayshore Park Fishing Pier and the Cultural Center of Charlotte County.
