Florida

Feldman Equities, Tower Realty Partners Reacquire Stake in Wells Fargo Center in Tampa

by John Nelson March 25, 2015

TAMPA, FLA. — Feldman Equities LLC and Tower Realty Partners have reacquired an interest in Wells Fargo Center, a 22-story, 390,000-square-foot office tower located in downtown Tampa. The two firms purchased the equity position in a joint venture partnership with an institutional investor that purchased the building in 2014. Feldman Equities and Tower Realty originally acquired Wells Fargo Center at the end of 2012 in a joint venture partnership with another institutional investor. As part of the agreement, Tower Realty Partners will retain management responsibilities with Feldman Equities providing leasing oversight. Jeff Lanning and Brian Breeding of Cushman & Wakefield have been retained to represent the ownership group in leasing the building. Current tenants include Wells Fargo & Co., Phelps Dunbar and UBS.

March 25, 2015

Florida Hospitality Loans Southeast

Meridian Capital Group Arranges Financing for DoubleTree Hotel in Orlando

by John Nelson March 25, 2015

ORLANDO, FLA. — Meridian Capital Group has arranged permanent financing for the recapitalization of the DoubleTree by Hilton Orlando Downtown in Orlando. The 342-room hotel is located at 60 S. Ivanhoe Blvd. Tal Bar-Or of Meridian’s New York City office arranged the balance sheet loan on behalf of the borrower, Glenmont Capital Management LLC.

March 25, 2015

Florida Multifamily Southeast

Marcus & Millichap Brokers $7M Sale of 66 Townhome Units in Tampa

by John Nelson March 24, 2015

TAMPA, FLA. — Marcus & Millichap has brokered the $7 million sale of 66 units at Town Park Villas, an 81-unit townhome community located at 6070 Gibson Ave. within Tampa’s Temple Terrace submarket. Nicholas Meoli and Michael Donaldson of Marcus & Millichap’s Tampa office represented the seller, a private investor from Longwood, Fla., in the transaction. The buyer was a limited liability company based in Miami.

March 24, 2015

Florida Office Southeast

Crocker Partners Signs Law Firm to 24,000 SF Lease Renewal in Miami CBD

by John Nelson March 23, 2015

MIAMI — Crocker Partners has signed international law firm Hughes Hubbard & Reed LLP to a 24,000-square-foot lease renewal for the full 25th floor at Miami Center, a 34-story office tower in Miami’s central business district. Rashid Siapoosh of Newmark Grubb Knight Frank, along with Gerard Cruse and Fran Tuffy of Hughes Hubbard, represented the tenant in the 10-year lease renewal. Jon Blunk, Laurel Oswald and Cristina Glaria of Cushman & Wakefield represented the landlord.

March 23, 2015

Celebration Pointe Mixed-Use Gainesville Florida

Florida Mixed-Use Southeast

Vertical Construction Set to Begin on $200M Celebration Pointe in Gainesville

by John Nelson March 20, 2015

GAINESVILLE, FLA. — Vertical construction is set to begin on Celebration Pointe, a 225-acre, $200 million mixed-use development in Gainesville. The development team — comprising Gainesville-based Viking, Atlanta-based Ra Co Real Estate Advisors and Miami-based 1220G — will break ground on the public infrastructure improvement phase of the development, which is located at the intersection of I-75 and Archer Road. The 1 million-square-foot development will be anchored by a Bass Pro Shops and a new 10-screen theater. The property will also house 300,000 square feet of office space, which is partially pre-leased to Info Tech; approximately 1,000 Class A multifamily residences; a 120-room Hotel Indigo; and 400,000 square feet of retail, restaurant and entertainment space. Phase I of the development is slated to open in fall 2016. The project team for Celebration Pointe includes Avison Young, Front Street Commercial Real Estate Group, Starr Sales & Leasing, CUPKOVIC architecture llc, England-Thims & Miller Inc., Fishkind & Associates Inc., George Smith Partners Inc., Greeby, Hartman Simons & Wood LLP, Hoar Construction, Huie Design Inc., Identity PR, infinitee, NUE Urban Concepts and Site Solutions.

March 20, 2015

Victoria's Secret South Beach Miami Beach

Florida Retail Southeast

IPA Brokers Sale of Two Retail Properties in Miami Totaling $45.8M

by John Nelson March 20, 2015

MIAMI — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Shoppes of Coral Way at 2690 S.W. 22nd St. in Miami and Victoria’s Secret South Beach at 745 Collins Ave. in Miami Beach. The two assets sold for a combined $45.8 million. Shoppes of Coral Way is a 48,993-square-foot shopping center that is fully leased to CVS/pharmacy, Office Depot, The UPS Store, Check ’n Go, GNC, Radio Shack and a local nail salon. Victoria’s Secret South Beach has 10,264 square feet of retail space on the first two floors and 2,867 square feet of office and storage space on the third floor. Victoria’s Secret has nine-and-a-half years remaining on its 15-year lease. Drew Kristol and Kirk Olson of IPA represented the seller of Shoppes of Coral Way, a limited liability company based in Coral Gables, Fla. The pair also represented the unnamed buyer and seller of Victoria’s Secret South Beach. Additionally, Christopher Marks of IPA’s capital markets group arranged a $12.7 million, 10-year acquisition loan for the Shoppes of Coral Way transaction through an unnamed life insurance company. The loan was structured with a fixed interest rate at 3.95 percent and a 30-year …

March 20, 2015

Florida Restaurant Retail Southeast

Flagler Realty & Development Breaks Ground on $21M Retail Center in Celebration

by John Nelson March 20, 2015

CELEBRATION, FLA. — West Palm Beach-based Flagler Realty & Development Inc. has broken ground on Shoppes at Celebration Place, a 43,500-square-foot shopping center in Celebration, a master-planned community near Orlando. The $21 million property will be leased to Walgreens, Chipotle Mexican Grille, Dunkin’ Donuts, Five Guys Burgers & Fries and additional retailers. Flagler expects to complete the property in the fall. Flagler Realty & Development is owned by principals Patrick Koenig, Richard Johnson Jr. and Scott Johnson. The Walt Disney Co. established Celebration in 2001 after breaking ground on the community in 1994. Celebration is a Census-designated place, or an unincorporated community.

March 20, 2015

1 N.E. 40th Street Miami Design District

Florida Restaurant Retail Southeast

RKF Brokers Three Retail Sales in Miami Totaling $86.8M

by John Nelson March 19, 2015

MIAMI — RKF has brokered three property sales in Miami’s Design District and Wynwood neighborhoods totaling $86.8 million. Brooklyn-based RedSky Capital purchased the three properties from three separate sellers. Ben Mandell, Drew Schaul and John Ellis of RKF represented RedSky in all three transactions. The assets included a two-story, 19,436-square-foot retail property located at the corner of North Miami Avenue and N.E. 40th Street in the Design District. RedSky purchased the asset from Hardor Corp. for $29.3 million. Hardor Corp. was represented internally in the transaction. The other Design District property was a three-story, 17,391-square-foot retail asset at 35 N.E. 40th St. that RedSky purchased from a limited liability company known as 35 NE 40th Street LLC for $28 million. Oak Tavern, a 140-seat bar and restaurant, currently occupies the space. Fran Clougherty of Douglas Elliman represented the seller in the transaction. Lastly, RedSky purchased Wynwood Block, an enclosed shopping center occupying a full city block at 2621 N.W. 2nd Ave. in Wynwood, for $29.5 million. Gaston Miculitzki of Brightway Properties represented the seller, Wynwood 2621 LLC, in the transaction.

March 19, 2015

Florida Loans Seniors Housing Southeast

HJ Sims Finances New Seniors Housing Community in Central Florida

by John Nelson March 19, 2015

KISSIMMEE, FLA. — HJ Sims, an investment bank and brokerage firm, has financed the construction of Tuscan Isle, a seniors housing community in Kissimmee. Tuscan Isle will comprise 120 independent living units, 56 assisted living units and 36 memory care units. The independent living units will be housed in a four-story building, made up of one- and two-bedroom units ranging in size from 706 to 1,230 square feet. The assisted living units will consist of studios and one- and two-bedroom units ranging in size from 390 to 620 square feet. The memory care units will provide for 36 residents in private rooms. Tuscan Isle has a preliminary shared services agreement with AV Homes, the developer of neighboring community Solivita. The Tuscan Isle project began in January and is currently under construction with a planned completion date in spring 2016. Phase II of construction will incorporate a skilled nursing expansion. Construction financing consists of $40.5 million tax-exempt bonds and $1.7 million taxable bonds. The preferred equity consists of taxable bonds for accredited investors, totaling $6.2 million. The owners of Tuscan Isle include affiliates of Vieste Group, a program management and development services company from Chicago; HJ Sims Investments, an affiliate of …

March 19, 2015

Florida Retail Southeast

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

by John Nelson March 19, 2015

ORLANDO, FLA. — Crossman & Co. has signed Supercuts to a 1,300-square-foot lease at Cornerstone at Lake Hart, a 78,241-square-foot Publix-anchored shopping center located at the corner of Narcoossee and Moss Park roads in Orlando. The lease brings the center to full occupancy. The hair salon will join a tenant roster that features UPS, GNC, 7-Eleven, Giovanni’s Italian Restaurant & Pizzeria and Orlando Cleaners. Tyler Wilkins of Crossman & Co. co-brokered the lease transaction with Joanna Robinson of The Shopping Center Group.

March 19, 2015

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