MIAMI — Fifteen Group has sold 200 South Miami Avenue, a 110,000-square-foot logistics facility in downtown Miami, for $37.3 million. The sales price was nearly double what the Miami-based investment firm paid in July 2014, when it purchased the asset for $19 million. The building is net-leased to FedEx until 2029 with a five-year renewal option, according to The Real Deal.
MIAMI — Berkshire Group has purchased Aviva Coral Gables, a recently built, 276-unit apartment community located at 3880 Bird Road in Miami, a little more than one mile outside of Coral Gables. Ponce & Bird Miami Development LLC sold the property for $100 million, according to The Real Deal. The property, which will be renamed Berkshire Coral Gables, features a heated saltwater swimming pool and spa, outdoor courtyard and kitchen, cyber café, dog spa and a sports lounge.
BOYNTON BEACH, FLA. — TruAmerica Multifamily has purchased Ashley Lake Park, a 300-unit apartment community located in Boynton Beach, for $49 million. Richard Donnellan, Marc de Baptiste, Hampton Beebe and Avery Klann of ARA Newmark marketed the property on behalf of the seller, a joint venture between Robbins Electra and LEM Capital. Berkeley Point Capital’s Mitch Clarfield arranged financing for the acquisition through Freddie Mac’s Green Rewards program. Ashley Lake Park includes a mix of one-, two- and three-bedroom units and features a clubhouse, fitness center, internet café, two pools, dog park and picnic areas. TruAmerica’s renovation plans include updated interiors, upgraded appliances and improvements to the pool, clubhouse and fitness center.
DAYTONA BEACH, FLA. — Avison Young has brokered the $20 million sale of Volusia Marketplace, a 131,361-square-foot shopping center located at 2400 W. International Speedway Blvd. in Daytona Beach, across from the Daytona International Speedway. John Crotty, Joshua Ladle, Steve Tanner and Ray Hayhurst of Avison Young arranged the sale to Festival Properties Inc. on behalf of the undisclosed seller. Volusia Marketplace’s tenant roster includes Big Lots, Cost Plus World Market, T-Mobile, Panera Bread, Chipotle Mexican Grill, Ashley Furniture HomeStore, Jo-Ann Stores and Batteries + Bulbs. The property was 100 percent occupied at the time of sale.
DAVENPORT, FLA. — Franklin Street has brokered the $23.4 million sale of Ovation Town Center, a 96,750-square-foot, Publix-anchored shopping center located at 7800 Lake Wilson Road in Davenport, roughly 35 miles south of Orlando. Publix Super Markets purchased the property. Bryan Belk and John Tennant of Franklin Street’s Atlanta office represented the seller, Armstrong Development, in the transaction. McDonald’s, Wells Fargo, Tropical Smoothie and Anytime Fitness round out the shopping center’s tenant roster.
PENSACOLA, FLA. — KeyBank Real Estate Capital has closed a $19.7 million adjustable-rate loan for Marcus Pointe Grande Apartment Homes, a 248-unit multifamily property located in Pensacola. Timothy Weldon of KeyBank arranged the 10-year financing through Fannie Mae with a two-year interest-only period and a 30-year amortization schedule. The borrower was not disclosed. Marcus Pointe Grande features a fitness center, swimming pool, heated spa and clubhouse.
MIAMI — Rose & Berg Realty, a New-York-based private real estate company, has unveiled plans to develop The Gateway at Wynwood, a 12-story, 200,000-square-foot office building located at 2916 N. Miami Ave. in Miami’s Wynwood neighborhood. The building will have eight floors of office space above four floors of covered parking. In addition, The Gateway at Wynwood will include approximately 25,000 square feet of retail space being marketed by RKF. Kobi Karp Architecture and Interior Design is the architect of the project, and Jack Lowell, Adriana Rosillo and Noa Figari of Colliers International will handle the leasing of the building’s office space.
JACKSONVILLE, FLA. — Michael Development Corp. has acquired One Enterprise Center, a 317,571-square-foot office building located at 225 Water St. in downtown Jacksonville. The Los Angeles-based company purchased the 22-story tower via Rosecrans 2004 LLC. John Bell of Transwestern negotiated the sale on behalf of the buyer. The property features a glass panel exterior, marble lobby and a glass atrium dome with a tower directly connected to the 354-room Omni Jacksonville Hotel. The office building and hotel share a parking garage that offers a ratio of 2.26 spaces per 1,000 square feet. One Enterprise Center was 51 percent leased at the time of sale.
TAMPA, FLA. — Strategic Property Partners LLC (SPP) has unveiled plans for Water Street Tampa, a $3 billion mixed-use development located on the Garrison Channel and Hillsborough Bay in downtown Tampa. SPP is a real estate investment joint venture between Cascade Investment LLC and Jeff Vinik, owner of the Tampa Bay Lightning. Spanning 50 acres, the community will comprise more than 2 million square feet of office space; 1 million square feet of retail, cultural, educational and entertainment space; 3,500 new rental and for-sale residences and two new hotels totaling more than 650 rooms, including the city’s first five-star hotel. In addition, SPP donated an acre of land to the University of South Florida, which will relocate its Morsani College of Medicine and Heart Institute from its current suburban campus to a 380,000-square-foot facility in downtown. The development also includes over $200 million in new infrastructure. Roadway and public utility work began in the summer of 2016, and a new central cooling facility will break ground in the fall. The first phase of construction for Water Street Tampa will begin this year, with over 4 million square feet scheduled for completion in 2020. Subsequent phases of the project are slated …
MAITLAND, FLA. — Cambridge Landmark has purchased the Sheraton Orlando North Hotel, a 389-room hotel located at 600 N. Lake Destiny Road in Maitland, roughly eight miles north of Orlando. Michael Weinberg and Preston Reid of HFF brokered the $31.2 million transaction on behalf of the seller, a partnership between Värde Partners, Interstate Hotels Corp. and Waramaug Hospitality Asset Management. The hotel features approximately 15,000 square feet of meeting space, an outdoor pool with a hot tub, fitness center, business center, on-site rental care services, lounge and a café.