SARASOTA, FLA. — Colliers International has brokered the $19.1 million sale of Whole Foods Market Centre, a multi-tenanted, 59,341-square-foot shopping center located at 1451 1st St. in downtown Sarasota. Whole Foods Market anchors the center. Consolidated-Tomoka Land Co. purchased the shopping center from Casto-Zenith Venture LLC. Mike Milano, Ron Schultz, Cynthia Shelton and Kane Morris-Webster of Colliers International represented the seller in the transaction.
PENSACOLA, FLA. — Marcus & Millichap has arranged the $4.1 million sale of a 42,296-square-foot Walmart Neighborhood Market located at the corner of Mobile and Pine Forest roads in Pensacola. Don McMinn and Zachary Taylor of Marcus & Millichap’s Atlanta office represented the seller, a Tennessee-based developer, in the transaction. Patrick Furlong of Marcus & Millichap’s Seattle office represented the buyer, a private 1031 investor. Kirk Felici of Marcus & Millichap’s Miami office is the firm’s broker of record in Florida. Walmart has a 20-year triple-net lease on the asset, which opened for business in July 2014.
MIAMI — A fund sponsored by CBRE Global Investors has acquired Airport Corporate Center, a 45-acre, 11-building office park located adjacent to Miami International Airport. The campus is located at 7200-7665 Corporate Center Drive and includes more than 1 million square feet of space, which was 78.6 percent leased at the time of sale. CBRE Global Investors plans to upgrade the campus with the firm’s 5-Star Worldwide service and amenity program, including the addition of conference centers and a fitness center. The buyer is also planning to renovate building interiors and exteriors and upgrade the property’s landscaping.
BOCA RATON, FLA. — PCCP LLC has provided a $34 million acquisition loan for Fountain Square, a three-building, Class A office complex in Boca Raton totaling 241,000 square feet. CBRE and MHCapital Funding LLC arranged the loan on behalf of the buyer, Fountain Square Owner LLC. The buyer plans to lease up the office complex, which was 61 percent leased at the time of sale. Fountain Square Owner has retained NAI Merin Hunter Codman Inc. to handle the property’s leasing and management responsibilities.
WINTER PARK, FLA. — CBRE has brokered the $57.7 million sale of Sun Key Apartment Homes, a 596-unit luxury apartment community in Winter Park, roughly 7.5 miles northeast of Orlando. The multifamily property is located at 7502 Sun Key Blvd. BC Property Investments purchased the asset from an affiliate of Starwood Capital Group, which bought Sun Key back in September 2010. The property has recently undergone $12 million worth of renovations and was 94 percent occupied at the time of sale. The community’s amenity package includes a Wi-Fi business center, two swimming pools, an 1,800-square-foot fitness center, renovated clubhouse, firepit, spa and a game room with flat-screen TVs, video game consoles, air hockey, foosball and billiards. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented the seller in the transaction.
ORLANDO, FLA. — ZOM and its joint venture partner AIG Global Real Estate have completed the land purchase for the site of a new luxury lakefront multifamily community. The 483-unit property, known as Baldwin Harbor, will be located in the master-planned Baldwin Park community in Orlando. Baldwin Harbor’s amenity offerings will include a clubhouse with a resident’s lounge, an entertainment kitchen, pool with cabanas, summer kitchen and a golf simulator. J.P. Morgan Chase Bank provided construction financing for the project, and ZRS Management LLC will provide property management services upon completion. Pre-leasing for Baldwin Harbor will begin in the fall of 2015. CBRE’s Orlando office represented the seller in the land transaction.
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.
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.
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.
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.
