Florida

Federal Capital Partners Buys Apartment Community in Tampa for $22.4M

by John Nelson March 25, 2016

TAMPA, FLA. — Federal Capital Partners (FCP) has purchased Belara Lakes Apartments, a 324-unit multifamily community located at 8402 N. Waterford Ave. in Tampa, for $22.4 million. The Belara Lakes acquisition is FCP’s second investment in Florida in the last 90 days. The property features two swimming pools, a community lake, fitness center, picnic area and a playground. FCP has retained local firm Avesta to manage the community. Nick Meoli of the Meoli-Donaldson team at Marcus & Millichap represented the seller in the transaction.

March 25, 2016

4726 Eisenhower Blvd TampaTRAK Microwave Corp.

Florida Industrial Office Southeast

NGKF Negotiates 117,018 SF Corporate Headquarters Lease in Tampa

by John Nelson March 25, 2016

TAMPA, FLA. — NGKF has arranged a 117,018-square-foot lease extension for TRAK Microwave Corp.’s corporate headquarters and manufacturing facility. The manufacturer has restructured its lease for flex space at 4726 Eisenhower Blvd. in Tampa. Clay Wommack of Franklin Street represented the landlord, Chew Family Tampa LLC, in the transaction. John Esposito of NGKF represented TRAK Microwave Corp., which is owned by Smiths Group.

March 25, 2016

Marcelo Claure David Beckham Miami Beckham United

Florida Retail Southeast Top Stories

David Beckham-Led Investment Group Buys Land in Miami for $300M Soccer Stadium

by John Nelson March 25, 2016

MIAMI — Miami Beckham United (MBU), an investment group led by international soccer star and celebrity David Beckham, has purchased two parcels of land in Miami’s Overtown neighborhood for a new soccer stadium. In December 2015, Major League Soccer (MLS) approved the location of the $300 million project, which is expected to have about 30,000 seats and 7,000 parking spaces, according to the South Florida Business Journal. The new stadium will be the home of an MLS expansion team in Miami. In addition to Beckham, MBU is headed by Marcelo Claure, CEO of Sprint, producer Simon Fuller and sports executive Tim Leiweke. The partners have said the project will be privately funded. “We have the right site, the right ownership group, and a loyal base of fans counting down the days until our first match,” said Claure in a prepared statement. “We’re all-in on Overtown, and we couldn’t be more excited about moving forward with plans to deliver the most responsible stadium in Miami history.” MBU purchased the two sites, which total 6.2 acres, at 650 N.W. 8th St. The stadium site is situated midway between Miami Beach and Miami International Airport, within walking distance of downtown Miami and two blocks …

March 25, 2016

Florida Seniors Housing Southeast

Capital Senior Living Buys Two Communities in Pensacola for $48M

by John Nelson March 24, 2016

PENSACOLA, FLA. — Capital Senior Living Corp. has acquired two seniors housing communities totaling 179 units in the Florida panhandle town of Pensacola for $48 million. The two communities are Carpenters Creek, which offers independent living and assisted living services, and Creekside, which offers memory care. Capital Senior Living will rename the communities under its “The Waterford” brand. Ryan Maconachy and Chad Lavender of HFF arranged the sale on behalf of the seller, San Diego-based Pacifica Senior Living. The properties were 93.9 percent occupied at the time of sale.

March 24, 2016

Florida Office Southeast

Cushman & Wakefield Arranges $30.1M Sale of Office Campus in Palm Beach Gardens

by John Nelson March 24, 2016

PALM BEACH GARDENS, FLA. — Cushman & Wakefield has arranged the $30.1 million sale of Corporate Center at the Gardens, a two-building, 113,565-square-foot office campus located at 4200-4400 Northcorp Parkway in Palm Beach Gardens. The property is situated on a 6.2-acre parcel within PGA Professional Center along I-95. The Class A campus was fully leased at the time of sale to tenants such as Garden of Life, Oxford Global Resources, Olympus Insurance Co. and Weiss Research Inc. Scott O’Donnell, Dominic Montazemi, Miguel Alcivar, Greg Miller and Jason Hochman of Cushman & Wakefield, along with Anthony Librizzi of CBRE, represented the seller, Lexington Palm Beach LLC, in the transaction. The buyer was a joint venture between Breakers Capital and Alchemy-ABR-BCP Gardens LLC.

March 24, 2016

Florida Retail Southeast

First Capital Property Group Brokers $17M Sale of Shopping Center in Orlando

by John Nelson March 24, 2016

ORLANDO, FLA. — First Capital Property Group Inc. has arranged the $17 million sale of The Village at Hunter’s Creek, a 52,537-square-foot shopping center located at 13526 Village Park Drive in Orlando. The center’s tenant roster includes Massage Envy, Edward Jones, Liberty Mutual, Firehouse Subs and Coldstone. Jean-Paul Beaulieu of First Capital represented the buyer, Village HC LLC, in the transaction. Sean Glickman of Colliers International represented the seller, GB BM2 LLC.

March 24, 2016

Florida Mixed-Use Multifamily Office Retail Southeast Top Stories

Magic Development Unveils Plans for $3.3B Mixed-Use Project Near Orlando

by Haisten Willis March 23, 2016

KISSIMMEE, FLA. — Magic Development LLC has revealed plans for Magic Place, an 87-acre, $3.3 billion mixed-use development near Walt Disney World Resort in the Orlando suburb of Kissimmee. Rodrigo Cunha and Luis Claudio Sinelli are co-CEOs of Magic Development LCC, which is developing several other projects in Florida. Italian designer Paolo Pininfarina designed the project. At full build-out, the project will include five towers, shops, restaurants and resort amenities. The multifamily portion will be a mix of residential, condo and fractional units as well as nightly rental hotel rooms. Construction will begin on the first phase in July, according to the Orlando Business Journal. Phase I will include a 25-story, 251-unit resort tower, 40,000 square feet of retail and a 20,000-square-foot office building on U.S. Highway 192. Plans call for the finished development to include 250,000 square feet of retail and 1,850 residential units. The residential portion has a construction value of around $1.7 billion, according to the Business Journal. James Mincy, the project’s manager, says the company plans to build one building every four or five years, making a total construction time of between 20 and 25 years. — Haisten Willis

March 23, 2016

Florida Mixed-Use Southeast

Suffolk Construction, Related Group Top Off City Place Doral

by John Nelson March 22, 2016

DORAL, FLA. — Suffolk Construction and The Related Group have topped off Phase II of City Place Doral, a mixed-use and residential development in Doral, a western suburb of Miami. Upon completion at year-end 2016, the project will feature 300,000 square feet of retail including entertainment, dining, spa and fitness components. The project will also feature 280,000 square feet of Class A office space and 322 residential units. Last year, The Related Group secured a $137 million construction loan for the development. In 2014, Suffolk Construction completed Phase I of the project, Manor at City Place Doral.

March 22, 2016

Florida Loans Multifamily Southeast

NorthMarq Capital Arranges $15.2M Construction Loan for Metro Orlando Apartment Community

by John Nelson March 22, 2016

SANFORD, FLA. — NorthMarq Capital has arranged a $15.2 million construction loan for Residences at Seminole Commons, a 175-unit apartment community in Sanford, a northern suburb of Orlando. The property will be situated on Rinehart Road south of West 1st Street, near the extension of the SunRail subway line. Will James of NorthMarq’s Atlanta office, along with Bill Hardman of the firm’s Orlando office, arranged the three-year, interest-only loan through Synovus Bank of Orlando on behalf of the borrower, Inland Atlantic Development Corp.

March 22, 2016

Florida Retail Southeast

Rosemurgy Properties Acquires Retail Center in Tampa for $10.5M

by John Nelson March 22, 2016

TAMPA, FLA. — Rosemurgy Properties has purchased The Shops on South Howard, a 21,393-square-foot retail center located at 533 S. Howard Ave. in south Tampa, for $10.5 million. The property’s tenant roster includes Chipotle, Jimmy John’s, GNC, The Optic Shop and Edward Jones. Nat Scarmazzi of HFF’s Miami office represented Rosemurgy Properties in the transaction.

March 22, 2016

Newer Posts

Older Posts