Florida

Blue Rock, Goff Capital Purchase Apartment Community in Clearwater for $19.3M

by John Nelson March 10, 2015

CLEARWATER, FLA. — Tampa-based Blue Rock Partners LLC and Denver-based Goff Capital Partners have purchased Cameron Lakes Apartments, a 207-unit apartment community located at 2550 Stag Run Blvd. in Clearwater, for $19.3 million. Grandbridge Real Estate Capital provided acquisition financing on behalf of the buyers. In addition to rebranding the asset as The Park at Gibraltar, Blue Rock and Goff Capital plan to invest $1 million to upgrade the property’s common areas and add a washer and dryer to every unit. John Selby of CBRE brokered the transaction.

March 10, 2015

Florida Retail Southeast

Crossman & Co. Brings Publix-Anchored Shopping Center to Full Occupancy

by John Nelson March 10, 2015

ORANGE CITY, FLA. — Crossman & Co. has arranged Affordable Hearing Solutions’ 2,000-square-foot lease at Crown Centre Plaza in Orange City. The Publix-anchored property is located at the corner of Enterprise Road and Saxon Boulevard, just off I-4. The new lease brings the shopping center to full occupancy. Other tenants include Bealls Outlet, UPS, Jersey Mike’s Subs and Great Clips. Craig Katterfield of Crossman & Co. represented the landlord, Publix Super Markets Inc., in the lease transaction. Melody Traeger of Coldwell Banker Commercial Al Group represented Affordable Hearing Solutions.

March 10, 2015

Azure Luxury Apartments St. Petersburg Tampa Bay

Florida Multifamily Southeast

Passco Cos. Acquires St. Petersburg Apartment Community for $54M

by John Nelson March 9, 2015

ST. PETERSBURG, FLA. — Passco Cos. LLC has purchased the 308-unit Azure Luxury Apartments, a Class A apartment community located at 540 Trinity Lane in St. Petersburg, a city within the Tampa Bay area. The newly constructed apartment community was 94 percent occupied at the time of sale. The property comprises one-, two- and three-bedroom units with stainless steel appliances, granite countertops and kitchen islands, plank wood flooring, washers and dryers, nine-foot ceilings and private patios and balconies. Azure’s amenity package includes a resort-style pool, fitness center, garages, sports lounge, dog park, outdoor fire pits, car washing stations and electric car charging stations. The seller was undisclosed.

March 9, 2015

Florida Loans Retail Southeast

Integra Real Estate Capital Arranges $3M Refinance of Retail Property in Boca Raton

by John Nelson March 9, 2015

BOCA RATON, FLA. — Integra Real Estate Capital has arranged a $3 million refinance of City Plaza, an 11,000-square-foot retail property located in downtown Boca Raton. Igor Goldenberg of Integra arranged the seven-year loan through an unnamed regional balance sheet lender at a fixed interest rate. The recently renovated City Plaza’s tenant roster includes Tendler Orthodontics, Little Caesars Pizza, GK BloDryBar & Salon, The Seed Coffee | Juice and G+O2 Fitness.

March 9, 2015

Florida Multifamily Southeast

Berger Commercial Realty Brokers $22.1M Land Sale for New Apartment Complex

by John Nelson March 6, 2015

FORT LAUDERDALE, FLA. — Berger Commercial Realty has brokered the $22.1 million purchase of 4.3 acres of land located at 1701 S.E. 17th St. in Fort Lauderdale. Alliance Residential Co. purchased the former Ocean World site from Art Institute Investments LLC. Alliance plans to develop a 394-unit, eight-story apartment community named Broadstone Harbor Beach at the site. The complex will feature a club room, swimming pool, putting green, fitness center, 2,700 square feet of retail space and a 4,600-square-foot retail outparcel. Alliance will break ground on Broadstone Harbor Beach in the second quarter. Steve Hyatt of Berger Commercial Realty represented Alliance in the land acquisition.

March 6, 2015

Florida Retail Southeast

Palmetto Park Breaks Ground on Inline Space at Walmart-Anchored Shopping Center

by John Nelson March 6, 2015

MIAMI GARDENS, FLA. — Palmetto Park has broken ground on the inline space at Palmetto Gardens Plaza, a 63,000-square-foot shopping center located at 3799 N.W. 167th St. in Miami Gardens. The shopping center is anchored by Walmart Neighborhood Market. The owners of Palmetto Gardens Plaza have secured T-Mobile, Cell Phone Repair and Lee Nails as tenants. Palmetto Park expects to wrap up construction in the third quarter. Palmetto Park is a joint venture between DZD Palmetto, owned by Zvi and Daniel Shiff of DZD Holdings and Alan Macken and Andrew Verzura of VCM Builders to develop the commercial property. VCM Builders is one of several affiliates of Macken Cos.

March 6, 2015

Florida Loans Multifamily Southeast

Walker & Dunlop Provides $9M Loan for Florida Retail Center

by John Nelson March 6, 2015

BRADENTON, FLA. — Walker & Dunlop Inc. has originated $9 million in financing for Ranch Lake Plaza, an 85,656-square-foot retail property in Bradenton. The center is anchored by Goodwill Industries Manasota Inc., which recently signed a 15-year lease and will open its store this month. Ranch Lake Plaza was 95 percent leased at the time of the transaction. Alison Williams of Walker & Dunlop’s Tampa office led the team that structured the 10-year loan with a 30-year amortization schedule through an unnamed CMBS lender. The loan also featured two years of interest-only payments.

March 6, 2015

Florida Retail Southeast

Davidoff of Geneva to Open 5,000 SF Cigar Store in Tampa

by John Nelson March 4, 2015

TAMPA, FLA. — Davidoff of Geneva USA plans to open a new 5,000-square-foot cigar store in the MetWest International Retail Village in Tampa. The new store, known as “Davidoff of Geneva-Since 1911,” will be the largest Davidoff store in the world and the company’s first licensed flagship store outside of Las Vegas. The company will open the new store in late 2015 in partnership with Jeff and Tanya Borysiewicz, owners of Orlando-based Corona Cigar Co. The new location will be completely humidified and will feature cigar retail space, multiple indoor and outdoor lounges, private lockers and a full bar serving high-end alcoholic beverages.

March 4, 2015

Florida Retail Southeast

HFF Brokers $33.7M Sale of Grocery-Anchored Shopping Center in South Florida

by John Nelson March 3, 2015

CORAL SPRINGS AND MARGATE, FLA. — HFF has brokered the $33.7 million sale of Coral Landings III, a 176,575-square-foot grocery-anchored retail center in South Florida. The shopping center is divided between the two towns of Coral Springs and Margate near Fort Lauderdale. The shopping center is 85 percent leased to HomeGoods, Best Buy, Jo-Ann Fabric & Craft and Aldi. Danny Finkle, Luis Castillo, Nat Scarmazzi and Kim Flores of HFF represented the seller, Stiles Corp., in the transaction. Additionally, Mark Remington, Jose Carrazana and Neil Campbell of HFF arranged the seven-year acquisition loan with five years of interest-only payments and a 30-year amortization schedule through Citizens Bank on behalf of the buyer, Madison Marquette Realty Services. The $22.8 million acquisition loan features an interest rate fixed at 3 percent.

March 3, 2015

Planet Hollywood Observatory Orlando Disney

Florida Restaurant Retail Southeast

Planet Hollywood to Transform Downtown Disney Restaurant into Planet Hollywood Observatory

by John Nelson March 2, 2015

ORLANDO, FLA. — Planet Hollywood plans to transform its Orlando flagship location into a four-story observatory set to debut in spring 2016. The reimagined Planet Hollywood Observatory will overlook Downtown Disney with a newly expanded outdoor terrace and bar. Elkus Manfredi Architects will spearhead the design and will align the new Planet Hollywood Observatory with the transformation of Downtown Disney into Disney Springs. Disney Springs will treat guests by day and night to dining, shopping and entertainment with open-air promenades, springs and waterfront charm.

March 2, 2015

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