Florida

Dockerty Romer & Co. Arranges $70M Loan for Upscale Multifamily Community in Boca Raton

by John Nelson October 15, 2014

BOCA RATON, FLA. — Dockerty Romer & Co. has arranged a $70 million loan for Broadstone North Boca Village, a newly constructed luxury multifamily community in Boca Raton. The property features 384 rental units in a variety of one-, two- and three-bedroom floor plans. The community’s amenity package includes an 11,000-square-foot clubhouse, movie theater, resort-style swimming pool with cabanas, pool pavilion bar, fireplace, outdoor billiards table, putting green, fitness center, gourmet demonstration kitchen and wine room. Craig Romer of Dockerty Romer & Co. arranged the Fannie Mae DUS loan on behalf of an unnamed institutional pension fund advisor. The permanent loan will replace the original construction loan, according to Romer.

October 15, 2014

Florida Loans Southeast

KeyBank Provides $28M Loan for Motorola Florida Campus

by John Nelson October 15, 2014

PLANTATION, FLA. — KeyBank Real Estate Capital has closed a $28 million loan for Motorola Campus Building I and III, an office and research and development building in Plantation. The properties were built in 1982 and renovated this year. Michael Keach of KeyBank secured the loan, which was used to retire an existing KeyBank balance-sheet loan.

October 15, 2014

Florida Office Southeast

Investors Purchase 4.5 Acres of Commercial Space in Historic Downtown Pensacola

by John Nelson October 15, 2014

PENSACOLA, FLA. — One Palafox Place LLC, a group of investors managed by Robert Switzer, has entered into a purchase agreement to acquire a block of commercial space in the Palafox Historic District in downtown Pensacola. The 4.5-acre city corner is bound by Garden, Palafox, Romana and Baylen streets. The purchase includes a parking lot on the west side of Baylen Street and the historic Blount and Brent buildings. One Palafox Place LLC is purchasing the properties from Durnford Enterprises Ltd., which purchased the city block in 1980. The new ownership plans to honor all current tenants’ leases and contracts for their full term.

October 15, 2014

Florida Retail Southeast

Disney Store Opens at St. Johns Town Center in Jacksonville

by John Nelson October 14, 2014

JACKSONVILLE, FLA. — Disney Store has opened its newest store location at St. Johns Town Center, a super-regional, open-air mall located at 4663 River City Drive in Jacksonville. The mall is operated by Simon Property Group. The store will include a path for guests known as the Pixie Dust Trail that guides shoppers through “storytelling neighborhoods” involving Disney, Marvel and Star Wars characters. The store also includes an interactive video library known as the Disney Store Theatre and a limited time Halloween Shop. The Disney Store retail chain, which debuted in 1987, is owned and operated by Disney in North America, Europe and Japan. Disney Store is the retail merchandising arm of Disney Consumer Products, the business segment of The Walt Disney Co. (NYSE:DIS) and its affiliates. There are currently more than 200 Disney Store locations in North America; more than 40 Disney Store locations in Japan; and more than 100 Disney Store locations in Belgium, Denmark, France, Ireland, Italy, Portugal, Spain and the United Kingdom.

October 14, 2014

Florida Retail Southeast

HFF Brokers $32.8M Sale of Shopping Center in Destin

by John Nelson October 14, 2014

DESTIN, FLA. — HFF has brokered the $32.8 million sale of the Shoppes at Paradise Isle, a 171,837-square-foot retail power center in Destin. Located at 34940 Emerald Coast Parkway, the shopping center is 89.7 percent leased to tenants such as Best Buy, Big Lots, Michaels, PetSmart, Ulta Beauty and Office Depot. Brad Peterson and Whitaker Leonhardt of HFF represented the seller, Weingarten Realty Investors, in the transaction. Stoltz Real Estate Partners purchased the center through its fifth U.S. diversified fund.

October 14, 2014

Florida Office Southeast

Swire Announces Akerman LLP as Lead Office Tenant of Brickell City Centre

by John Nelson October 13, 2014

MIAMI — Swire Properties Inc. has announced that Akerman LLP, a leading transactions and trial law firm, will be the lead office tenant of Brickell City Centre, a $1.05 billion, 5 million-square-foot mixed-use development underway in Miami. Akerman will occupy approximately 108,000 square feet once construction is complete in 2015. The law firm will occupy 80 percent of the Class A office space at Brickell City Centre Green, which is one of two office buildings under construction at the development. Brickell City Centre Green will be located at 98 S.E. Seventh St. Akerman’s Miami office employs 160 lawyers, making it the largest law office in Florida. The law firm has played a significant legal role in the development of Brickell City Centre as real estate and land use counsel to Swire Properties. Tere Blanca of Blanca Commercial Real Estate represented Akerman in the lease transaction. Alexander Cahlin and David Valdez of Blanca Commercial Real Estate assisted in the deal.

October 13, 2014

Florida Retail Southeast

Marcus & Millichap Brokers $32.3M Sale of Two Port Orange Retail Centers

by John Nelson October 10, 2014

PORT ORANGE, FLA. — Marcus & Millichap has brokered the sale of two retail centers in Port Orange totaling $32.3 million. The properties include an 86,464-square-foot BJ’s Wholesale Club and fuel center and the 63,257-square-foot Altamira Village shopping center. Altamira Village’s tenant roster includes LA Fitness, CVS/pharmacy and Golden Corral. John Nuzman of Marcus & Millichap’s Detroit office represented the seller, Collett, a developer based in North Carolina, in both transactions. Robert Horvath and Todd Tremblay of Marcus & Millichap represented the buyer. Kirk Felici of Marcus & Millichap’s Miami office is the firm’s broker of record in Florida. The BJ’s is under a 20-year lease that began in September 2013, and LA Fitness has a 15-year lease that started this year.

October 10, 2014

Florida Retail Southeast

The Goodman Co. Acquires 165,000 SF Bass Pro Shops in Dania Beach

by John Nelson October 10, 2014

DANIA BEACH, FLA. — The Goodman Co. has acquired the 165,000-square-foot Bass Pro Shops Outdoor World in Dania Beach. The property is located near the Fort Lauderdale International Airport and adjacent to the IGFA Fishing Hall of Fame & Museum.

October 10, 2014

Florida Loans Southeast

Melo Group Secures $67.1M Construction Loan for High-Rise in Downtown Miami

by John Nelson October 9, 2014

MIAMI — Miami-based developer Melo Group has secured $67.1 million to fund the construction of Melody, a 36-story luxury apartment building in downtown Miami. The 497-unit property will be located at 245 N.E. 14th St. The ground floor of the tower will feature restaurant space with outdoor seating opening onto a central plaza. Construction began in September and is expected to wrap up in early 2016.

October 9, 2014

Florida Office Southeast

Steelbridge Capital Acquires 190,000 SF Office Park in Naples

by John Nelson October 9, 2014

NAPLES, FLA. — Steelbridge Capital has acquired Pelican Bay Executive Center, a three-building, 190,000-square-foot office complex in Naples. The park is located at Pine Ridge Road and Tamiami Trail. Tenants of Pelican Bay Executive Center include Wells Fargo Bank, Hahn Loeser LLP, Newsbank and Fischer International. The park was 71 percent leased at the time of sale. Michael Lynch of MLPA Realty Inc. represented Steelbridge Capital in the transaction. Christian Lee, Charles Foschini, Christopher Apone and Amy Julian of CBRE arranged acquisition financing for the transaction. CRE Consultants will handle the management and leasing of the office park.

October 9, 2014

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