Florida

Avison Young Arranges $46.7M Construction Loan for Mixed-Use Development in Miami

by John Nelson September 1, 2015

MIAMI — Avison Young has arranged a $46.7 million construction loan for INTown, a two-tower, 14-story mixed-use project that will be located in Miami’s Little Havana neighborhood. The $81 million property will feature two split condominium and rental towers with retail space on the ground level. David Eyzenberg and Amanda Saltzman of Avison Young arranged the loan on behalf of the developer, Astor Cos. According to Avison Young, INTown will be the first high-rise developed in Little Havana in more than 10 years.

September 1, 2015

Florida Industrial Southeast

Public-Private Partnership to Start Construction on $19.1M Facility at Port Tampa Bay

by John Nelson September 1, 2015

TAMPA, FLA. — A public-private partnership that includes Port Logistics Tampa Bay I Inc. and Port Tampa Bay will start construction on a 130,000-square-foot cold storage food products facility at Port Tampa Bay early next year. Set to open in November 2016, the $19.1 million intermodal facility will employ 50 full-time workers and up to 200 part-time workers. The Tampa Port Authority Board recently approved a 27-year lease to Port Logistics Tampa Bay I for the 13.7 acres where the facility will be developed on Hookers Point in downtown Tampa. The Tampa Port Authority has engaged Atlanta-based Batson-Cook Co. as contract manager for the project. The facility will accommodate 8,000 pallet positions in several different rooms with independent temperature controls for produce and perishables. The building will include office space for truckers and regulators such as USDA and Customs officials, and 15 temperature controlled doors for truck shipments. The project team includes George Livingston, principal of Port Logistics; Huie, an investment banker in Hong Kong; Seatrade; Time Definite Services; and Canton Port Services.

September 1, 2015

Florida Office Southeast

JLL Arranges 52,683 SF Office Lease in Downtown Fort Lauderdale

by John Nelson September 1, 2015

FORT LAUDERDALE, FLA. — JLL has secured a 52,683-square-foot lease transaction at Tower 101, a newly renovated, 21-story office tower located at 101 N.E. 3rd Ave. in downtown Fort Lauderdale. The tenant, Uniforms Direct, is relocating its corporate headquarters from Plantation, Fla., to Tower 101. Uniforms Direct will be the building’s largest tenant and will bring roughly 200 employees to occupy Tower 101’s penthouse level, the 20th floor and half of the 16th and 19th floors. Existing tenants at Tower 101 include Kemet Corp., Greater Fort Lauderdale Convention & Visitors Bureau, the city of Fort Lauderdale and Advantage Opco LLC. Alice Lucia Jackson and Brady Titcomb of JLL represented the landlord, Banyan Street Capital, in the lease transaction. Matthew Cheezem and Zach Wendelin of Cresa represented Uniforms Direct. The transaction is the largest office lease completed in downtown Fort Lauderdale year-to-date.

September 1, 2015

Florida Loans Office Southeast

Meridian Capital Arranges $15.2M in Acquisition Financing for Office Campus in Broward County

by John Nelson August 31, 2015

CORAL SPRINGS, FLA. — Meridian Capital Group has arranged $15.2 million in acquisition financing for Heron Bay Corporate Center I & II in Coral Springs, a city in Broward County. The 89,000-square-foot office campus houses 19 tenants, including Regus. Avi Weinstock and Josh Rhine of Meridian’s New York City office arranged the seven-year loan through a regional balance sheet lender on behalf of the borrower, The Benedict Realty Group. The loan features a fixed 4 percent interest rate and three years of interest-only payments followed by a 30-year amortization schedule.

August 31, 2015

Florida Industrial Southeast

Colliers Brokers $2.1M Sale of Industrial Facility in Southwest Florida

by John Nelson August 31, 2015

NAPLES, FLA. — Colliers International has brokered the $2.1 million sale of an 18,645-square-foot, Class A warehouse located at 3600 Westview Drive in Naples. The property is fully air-conditioned and features 20-foot ceilings, a truck well and grade-level overhead doors. The buyer, RICDEN LLC, plans to convert a portion of the warehouse into a fitness and training facility. The buyer also intends to keep Herbeau Creations of America Inc., a sanitary ware and sink distributor, as an industrial tenant. Jim Tamblyn of Colliers International’s Southwest Florida office represented the buyer in the transaction. The seller was Naples-based Baron Investment Corp.

August 31, 2015

Florida Industrial Southeast

Newmark Grubb Phoenix Realty Arranges 208,000 SF Industrial Lease in Florida

by John Nelson August 28, 2015

GREEN COVE SPRINGS, FLA. — Newmark Grubb Phoenix Realty Group has arranged a 208,000-square-foot industrial lease at 4627 JP Hall Blvd. in Green Cove Springs, a town located along the St. Johns River roughly 33 miles south of Jacksonville. Santa Paula, Calif.-based Calavo Growers leased the space at the 793,583-square-foot, multi-tenant warehouse and cold-storage distribution facility, which is located on a 141-acre tract and is rail-served by CSX. John Richardson and Bryan Bartlett of Newmark Grubb Phoenix Realty represented the landlord, Green Cove LLC, in the lease deal. Kevin Kelly of CBRE represented Calavo Growers. The deal is expected to bring 262 new jobs to the area.

August 28, 2015

Florida Loans Mixed-Use Southeast

Citigroup Arranges $60M Refinance of Weston Town Center in Broward County

by John Nelson August 27, 2015

WESTON, FLA. — Citigroup’s CMBS & commercial real estate finance office has arranged the $60 million refinancing of Weston Town Center, a retail and office campus in Weston. Anchored by Publix, the property is located at 2000 Main St. in South Florida’s Broward County. Michael Cohen of Citigroup arranged the 10-year, fixed-rate loan on behalf of the undisclosed borrower.

August 27, 2015

Florida Mixed-Use Southeast

HFF Arranges $35.5M Sale of Mixed-Use Development Site in Miami

by John Nelson August 26, 2015

MIAMI — HFF has brokered the $35.5 million sale of Miami International Centre, a 20.9-acre former yacht manufacturing facility and existing 90-slip marina with access to the Miami River in Miami. Located immediately east of the Miami International Airport, the site will be home to a mixed-use development that will feature retail, hotel, residential, office and marina uses. The site is part of the recently-created 220-acre Palmer Lake Metropolitan Urban Center zoning district established by Miami-Dade County to foster the creation of a modern urban center. Manuel De Zárraga, Maurice Habif, Jaret Turkell and Marty Busekrus of HFF represented the seller, Alecta Real Estate Investment, in the transaction. The buyer was Interterra Investments Group.

August 26, 2015

Florida Retail Southeast

Colliers Brokers $5.9M Sale of Shopping Center in Central Florida

by John Nelson August 26, 2015

EUSTIS, FLA. — Colliers International has brokered the $5.9 million sale of Eustis Shopping Center, a 191,000-square-foot shopping center located in Eustis, roughly 36 miles outside of Orlando. The property’s tenant roster includes Tractor Supply Co., Beall’s Outlet, Aaron’s, Family Dollar and Save-A-Lot. The buyer, Spigal Properties, plans to upgrade the shopping center. Joe Montgomery and Tony D’Ambrosio of Colliers’ Atlanta office and Cynthia Shelton and Kane Morris-Webster of the firm’s Orlando office represented the seller, EquiTrust Life Insurance Co., in the transaction. EquiTrust foreclosed on the property in September 2014 and hired Colliers International to provide property management, leasing and investment sales services.

August 26, 2015

Florida Office Southeast

Investment Properties Corp. Brokers $14M Sale of Iberia Bank Building in Naples

by John Nelson August 25, 2015

NAPLES, FLA. — Investment Properties Corp. (IPC) has arranged the $14 million sale of the Iberia Bank Building, a 59,476-square-foot office building located at 2150 Goodlette Road N. in Naples. SHA Realty Holdings LLC purchased the asset from IberiaBank. The sale also included adjacent land. David Stevens and Clint Sherwood of IPC brokered the transaction.

August 25, 2015

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