Florida

Forum Architecture to Design New Apartment Community in Orlando

by John Nelson July 27, 2015

ORLANDO, FLA. — Forum Architecture & Interior Design Inc. has received a contract to design Oasis at Grande Pines, a 282-unit apartment community located on Westwood Boulevard in Orlando near Sea World. The project team includes developer Picerne Development Corp., structural engineer Structural Concepts & Design and MEP engineer Joseph, Lawrence & Co. The apartment community will feature one-, two- and three-bedroom units within three-story walkup buildings, as well as separate carriage units with direct access garages. The property will also have a 9,600-square-foot clubhouse with a clubroom, game room, theater, fitness center, conference room, business facility and an outdoor porch.

July 27, 2015

Florida Retail Southeast

Walmart Neighborhood Market Opens New Location in Florida

by John Nelson July 24, 2015

WELLINGTON, FLA. — Walmart Neighborhood Market has opened a new 45,000-square-foot store at 4105 State Road 7 in Wellington, a city in Palm Beach County. In addition to groceries, the store provides health and beauty aids, pet products and cleaning supplies. The new store employs roughly 95 full- and part-time associates.

July 24, 2015

Florida Office Southeast

HFF Arranges $12.5M Sale of REO Office Park in Metro Miami

by John Nelson July 23, 2015

WEST KENDALL, FLA. — HFF has closed the $12.5 million real estate owned (REO) sale of Lucky Start Executive Plaza, a two-building office park totaling 55,658 square feet at 8765 S.W. 165th Ave. in West Kendall, a suburb of Miami. The office park comprises two office buildings that are 54.1 percent leased to medical and office tenants, as well as a vacant pad site for the future development of a three-story, 89,000-square-foot office building. HFF marketed the property on behalf of a regional bank, which previously purchased the asset in a foreclosure auction. IMC Property Management Inc. was the buyer. Marty Busekrus, Jorge Portela and Manny de Zárraga of HFF brokered the transaction.

July 23, 2015

Florida Mixed-Use Southeast

Colliers Brokers $10.8M Sale of Mixed-Use Asset in Miami’s Wynwood Neighborhood

by John Nelson July 23, 2015

MIAMI — Colliers International has brokered the $10.8 million sale of a former art gallery located at 2534 N. Miami Ave. in Miami’s Wynwood neighborhood. Built in 1950 and formerly housing the Zadok Art Gallery, the two-story, 18,870-square-foot property includes retail space on the ground floor and office space on the second floor. Ivo Tsinev and Achikam Yogev of Colliers International’s South Florida office represented the seller, Zadok Real Estate Holding, in the transaction. Michael Tobin of Rothman & Tobin PA represented the buyer, Badjer LLC, which plans to lease the vacant building for retail use.

July 23, 2015

Florida Multifamily Southeast

Berkadia Brokers $47M Sale of Multifamily Portfolio in Florida

by John Nelson July 22, 2015

PALM BAY AND MELBOURNE, FLA. — Berkadia has brokered the $47 million sale of a three-property multifamily portfolio in Palm Bay and Melbourne. Agawam, Mass.-based Deancurt Melbourne LLC purchased the portfolio from Denver-based HC II LP for roughly $85,454 per unit. Cole Whitaker, Hal Warren and Jason Stanton of Berkadia brokered the transaction. The three communities include the 112-unit Malabar Lakes in Palm Bay, the 300-unit Grand Oaks at the Lake in Melbourne and the 138-unit Park Village in Melbourne.

July 22, 2015

Florida Multifamily Southeast

Pollack Shores Breaks Ground on South Tampa Apartment Community

by John Nelson July 22, 2015

TAMPA, FLA. — Atlanta-based Pollack Shores Real Estate Group has begun construction on Havana Square, a new 274-unit luxury apartment community in south Tampa. Located in North Hyde Park on Rome Avenue, the property will feature a resort-style pool with fountains and cabanas, a fitness center, yoga room, courtyard with an open lawn, bocce ball court, sitting areas, fire pits and a parking garage. The one-, two- and three-bedroom units in Havana Square will include high-end finishes such as quartz and granite countertops, plank flooring, pendant lighting, stainless steel appliances and under mount sinks. Pollack Shores expects to have the first units available for rent in summer 2016 with final completion expected in early 2017. Matrix Residential, the multifamily residential management division of Pollack Shores, will manage the property upon completion.

July 22, 2015

Florida Retail Southeast

CREC Brokers $23.1M Sale of Shopping Center in Metro Miami

by John Nelson July 22, 2015

HIALEAH, FLA. — CREC has brokered the $23.1 million sale of El Mercado Shopping Center, a 96,000-square-foot property located at 2400 W. 60th St. in Hialeah in Miami-Dade County. The shopping center was 99 percent leased at the time of sale to tenants such as Publix, Rent-a-Center, Payless Shoes, GNC, Little Caesars Pizza, Pollo Tropical, La Colonia Medical Center, Mary’s Dollar Store and SunTrust Bank. Warren Weiser, Harry Blyden and Andrew Remick of CREC represented the seller, El Mercado Associates Ltd., in the transaction. The buyer is Stockbridge El Mercado LLC, an affiliate of Stockbridge Capital Group.

July 22, 2015

Florida Retail Southeast

Marcus & Millichap Brokers $18.8M Sale of Self Storage Facility in Florida

by John Nelson July 21, 2015

HOLLYWOOD, FLA. — Marcus & Millichap has brokered the $18.8 million sale of Emerald Hills Extra Closet Self Storage, a 1,970-unit self storage facility in Hollywood. The 128,797-square-foot facility sold for roughly $146 per square foot. The property is situated on approximately 7.4 acres at 3090 Sheridan St. near I-95. The sales price is the highest paid for a single self storage property in Florida to date, according to Marcus & Millichap. Constructed in 1991 and expanded in 1998, the Emerald Hills facility has climate-controlled and non-climate controlled units, business records storage, recreational vehicle parking, video surveillance and electronic gate access. Michael Mele and Luke Elliott of Marcus & Millichap’s Tampa office represented the seller and procured the buyer.

July 21, 2015

Florida Office Southeast

Uber, South Florida Business Journal Sign Leases at Brickell City Tower in Downtown Miami

by John Nelson July 21, 2015

MIAMI — Uber Technologies Inc. and the South Florida Business Journal have leased office space at Brickell City Tower, a 33-story office building located at 80 S.W. 8th St. in downtown Miami. The 287,000-square-foot tower is one of the premier office assets in Miami’s Brickell Financial District. Transportation tech firm Uber has leased 9,333 square feet for its Miami headquarters, and South Florida Business Journal will occupy 6,373 square feet office at the tower. Both transactions are the first office leases in Miami for both companies. Additionally, existing tenants Lamex Agrifoods, Inlingua Language School and Verizon have finalized their lease renewals at Brickell City Tower. Danet Linares and Alexander Cahlin of Blanca Commercial Real Estate served as exclusive leasing agents for Brickell City Tower’s ownership for all five lease deals. Shay Pope of CBRE represented Uber; Tere Blanca of Blanca Commercial Real Estate and Chase Monroe of JLL represented the South Florida Business Journal; and Andres del Corral of Blanca Commercial Real Estate represented Inlingua Language School. The Lamex Agrifoods and Verizon leases did not involve co-brokers.

July 21, 2015

Florida Seniors Housing Southeast

Enriched Community Development to Build Seniors Housing Community in Tampa

by John Nelson July 20, 2015

TAMPA, FLA. — Enriched Community Development LLC (ECD), a Tampa-based seniors housing developer, plans to break ground on an 80-unit assisted living and memory care facility in the Fishhawk area of southeast Tampa. The new community will be called Twin Creeks and will include 58 assisted living units and 22 memory care units in 62,000 square feet. ECD expects to break ground before the fourth quarter of 2015. Construction is expected to take approximately 11 months.

July 20, 2015

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