Florida

Publix Super Markets Breaks Ground on New Store at Downtown Doral Mixed-Use Development

by John Nelson January 6, 2017

DORAL, FLA. — Publix Super Market has broken ground on a new location at Downtown Doral, a mixed-use development by master developer Codina Partners located roughly 15 miles outside Miami in Doral. The Downtown Doral location will feature an enhanced selection of freshly prepared foods, as well as a large selection of natural and organic food. The new store will be designed with LED lighting technology and energy-efficient refrigeration and air conditioning. An expected opening has yet to be announced. Upon completion, Downtown Doral will feature 70 retail stores and restaurants, 400,000 square feet of Class A office space, 2,840 residential units, a charter elementary school and public green space.

January 6, 2017

Florida Multifamily Southeast

Morgan, Invesco Open Pearl Dadeland Apartment Community in Miami

by John Nelson January 5, 2017

MIAMI — A joint venture between multifamily developer Morgan and Invesco has opened Pearl Dadeland, a 412-unit apartment community located at 7440 N. Kendall Drive in Miami. The community’s units average 841 square feet with a mix of studios and one-, two- and three-bedroom residences. The interiors feature stainless steel appliances, quartz countertops, under-mount sinks, under-cabinet lighting, oval soaking tubs, glass-enclosed showers, walk-in closets, full-size washers and dryers, Nest thermostats, USB charging ports, electronic key entry system and private balconies. Select apartments have 11-foot ceilings, island kitchens with a breakfast bar, double sinks in the master bath and a desk alcove. Community amenities include a fitness studio with a yoga room, TRX wall and Peloton Cycles; resort-style swimming pool with private cabanas, TVs and grilling stations; rooftop amenity deck; Wi-Fi-enabled clubhouse with a theater and gaming room; and a 4,000-square-foot park with a dog park. JPMorgan Chase provided construction financing for Pearl Dadeland. Morgan has another community, Midtown 29, under construction in Miami’s Wynwood/Midtown neighborhood and will break ground this month on a community in the Flagler Village neighborhood of Fort Lauderdale.

January 5, 2017

Florida Multifamily North Carolina Southeast

ARA Newmark Arranges $127M Sale of Multifamily Portfolio in Florida, North Carolina

by John Nelson January 4, 2017

TAMPA, FLA. — ARA Newmark has brokered the $127 million sale of a four-property, 1,153-unit multifamily portfolio in Florida and North Carolina. The properties include the 298-unit ARIUM Bala Sands in Orlando, the 247-unit ARIUM Citrus Park and the 368-unit ARIUM Bay Pointe, both in Tampa, and the 240-unit ARIUM Pineville in Charlotte. The seller, The Carroll Organization, has implemented interior renovations on select units in all four properties. Patrick Dufour, Kevin Judd, John Heimburger, Scott Ramey, Jason Kon, Dick Donnellan, Marc deBaptiste, Dean Smith and Blake Okland of ARA Newmark represented Carroll in the transaction, which was completed in three phases.

January 4, 2017

Florida Multifamily Southeast

Magellan Development Group Opens Midtown Five Apartment Tower in Miami

by John Nelson January 4, 2017

MIAMI — Chicago-based Magellan Development Group has opened Midtown Five, a 400-unit, 24-story apartment tower located at 3201 N.E. 1st Ave. in Miami. The property features studio, one-, two- and three-bedroom units ranging from 540 to 1,500 square feet. Each unit features 9-foot ceilings and floor-to-ceiling windows, as well as quartz countertops, contemporary cabinetry, stainless steel appliances, keyless unit entry, USB ports throughout and smart thermostats. Midtown Five also features more than 50,000 square feet of indoor and outdoor amenity space, including a fitness center, yoga lawn, meditation garden, children’s play area, dog run, resident-only spa, business center, conference rooms and a swimming pool with a sundeck, canopied cabanas and an outdoor Whirlpool spa.

January 4, 2017

Florida Multifamily Southeast

Marcus & Millichap Brokers $18M Sale of Apartment Community in Tampa

by John Nelson January 4, 2017

TAMPA, FLA. — Marcus & Millichap has arranged the $18 million sale of Carrollwood Palms, a 204-unit apartment community located at 4302 Gunn Highway in Tampa’s Carrollwood neighborhood. The previous owner renovated more than half of the units and implemented upgrades to the property’s exterior. Carrollwood Palms comprises one- and two-bedroom units that feature sunrooms and patios. Community amenities include a resort-style swimming pool, fitness center and a tennis court. Nicholas Meoli and Michael Donaldson of Marcus & Millichap’s Tampa office represented the seller and procured the buyer in the transaction.

January 4, 2017

Florida Retail Southeast Uncategorized

RD Management Inks Lease with Earth Fare at Shady Oaks Shopping Center in Ocala, Florida

by John Nelson January 4, 2017

OCALA, FLA. — RD Management LLC has signed Earth Fare, a specialty grocer that sells natural and organic products, to a 29,618-square-foot lease at its Shady Oaks Shopping Center located at 2401-2499 S.W. 27th Ave. in Ocala. The grocer is expected open its store at the 260,419-square-foot shopping center in the spring, joining other newcomers such as Tuesday Morning, Mattress One and Pushti Eyebrows. Front Street Commercial Real Estate Group represented RD Management in the lease deal with Earth Fare.

January 4, 2017

Florida Multifamily Southeast

Passco Acquires Apartment Community in Florida for $50.3M

by John Nelson January 3, 2017

MELBOURNE, FLA. — Passco Cos. has purchased Marisol at Viera, a 282-unit multifamily community located at 2439 Casona Lane in Melbourne, from Pollack Shores Real Estate Group for $50.3 million. The Class A property is situated within Viera, a 22,000-acre master-planned development in Brevard County. Marisol at Viera features two poolside bars and outdoor kitchens, a private club and amenities deck, clubroom and TV lounge, 6,500-square-foot dog park with an outdoor grooming station and electric car charging stations. Ken Delvillar and Jay Ballard of Cushman & Wakefield represented both Passco Cos. and Pollack Shores in the transaction. Chris Black of KeyBank Real Estate Capital arranged acquisition financing through Fannie Mae on behalf of Passco.

January 3, 2017

Florida Industrial Southeast

Monmouth Real Estate Buys Industrial Facility in Fort Myers Leased to FedEx Ground for $21M

by John Nelson January 3, 2017

FORT MYERS, FLA. — Monmouth Real Estate Investment Corp. has purchased a newly built, 213,672-square-foot industrial facility located at 14001 Jetport Loop in Fort Myers for $21 million. The facility is net-leased for 10 years to FedEx Ground Packaging System Inc. The building is situated on roughly 22.5 acres directly across from Southwest Florida International Airport. Monmouth is a publicly traded industrial REIT based in Freehold, N.J.

January 3, 2017

Florida Retail Southeast

The Shopping Center Group, Avison Young Broker $12.6M Sale of Retail Center in North Palm Beach

by John Nelson January 3, 2017

NORTH PALM BEACH, FLA. — The Shopping Center Group and Avison Young have brokered the $12.6 million sale of Northlake Promenade Shoppes, an 82,966-square-foot, Publix-anchored shopping center in North Palm Beach. Woolbright Development purchased the asset from a private investment company based in Canada. The shopping center’s outparcel tenants include CVS/pharmacy, Chase Bank and BP Gas. The property is situated on 21 acres at the southwest corner of Northlake Boulevard and Federal Highway and features a development site for Phase II of the shopping center. Anthony Blanco of The Shopping Center Group and David Duckworth and AJ Belt III of Avison Young led the marketing efforts.

January 3, 2017

Florida Office Southeast

Cushman & Wakefield Arranges Wells Fargo’s Office Relocation, Expansion in Downtown Miami

by John Nelson December 22, 2016

MIAMI — Cushman & Wakefield has arranged a relocation and lease expansion for Wells Fargo at Wells Fargo Center in downtown Miami. The long-term, 54,160-square-foot expansion is valued at $32 million and is downtown Miami’s largest office lease in 2016, according to Cushman & Wakefield. Wells Fargo will relocate its personal banking, small business banking, commercial banking and investment advisory services from Southeast Financial Center in downtown Miami in November 2017. The move increases Wells Fargo’s existing footprint at Wells Fargo Center from 96,656 square feet to 150,816 square feet. Built in 2010, Wells Fargo Center is a 47-story, 752,488-square-foot office tower that adjoins the JW Marriott Marquis Hotel and Hotel Beaux Arts. Brian Gale, Andrew Trench, Ryan Holtzman and Jeannette Mendoza of Cushman & Wakefield represented the building owner, Metropolitan Life Insurance Co., in the deal. David Preve of JLL represented Wells Fargo.

December 22, 2016

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