KEY WEST, FLA. — JLL has brokered the $74.5 million sale of Key Plaza Shopping Center, a 230,970-square-foot retail center located at 1107 Key Plaza in Key West. Publix anchors the center, along with junior anchors OfficeMax and Dollar Tree. Manny DeZarraga, Danny Finkle, Eric Williams, Jorge Portela and Kim Flores of JLL represented the undisclosed seller in the transaction.
FORT PIERCE, FLA. — Stonemont Financial Group has completed South Florida Logistics Center 95, a 1.3 million-square-foot industrial park in Fort Pierce, a city in Southeast Florida’s St. Lucie County. The complex is located at the intersection of South Kings Highway and Orange Avenue, near I-95 and the Florida Turnpike. At 1.1 million square feet, Building 1 at the complex is the largest speculative building in Southeast Florida, according to Stonemont, while Building 2 spans 245,000 square feet. The design-build team includes construction firm Evans General Contractors, architect Ware Malcomb and civil engineer Engineering Design & Construction Inc. Sky Groden of JLL’s Fort Lauderdale office is handling leasing at South Florida Logistics Center 95, both buildings of which are available for lease.
MIAMI BEACH, FLA. — Hyatt Hotels Corp. plans to renovate The Confidante Miami Beach, a 354-room hotel that comprises three towers overlooking the Atlantic Ocean. The hotel giant is rebranding The Confidante as Andaz Miami Beach and plans to debut the overhauled hotel in the fourth quarter. The hotel’s owner, Sunstone Hotel Investors Inc., will suspend operations from late March through the end of the hotel’s renovation. The improvements will include a redesigned lobby, two reconceptualized pools and outdoor recreation experience and redesigns for the hotel’s spa, guestrooms, suites and 25,000 square feet of event and meeting space. Sunstone and Hyatt are also partnering with a new culinary provider, José Andrés Group, at Andaz Miami Beach, including an outdoor venue on the second level called Andaz Lounge. The hotel will be the first Florida property for the Andaz brand, which has 29 properties globally to date.
HIALEAH, FLA. — MG Developer has completed the vertical construction of Metro Parc, a 559-unit transit-oriented apartment community located in Hialeah, approximately 13 miles outside Miami. Upon completion, the two-tower building will feature residences with two bedrooms and two bathrooms ranging from 500 to 800 square feet. Amenities at the community will include coworking space, an outdoor kitchen, pool and a gym. The property will also feature ground-floor retail space, including a Latin-inspired food marketplace. Metro Parc is the first phase of the Metro Center development, which will comprise roughly 2.3 million square feet of multifamily and retail space and is scheduled for completion in 2027.
MIAMI — Azora, a private equity manager based in Madrid, has purchased an industrial outdoor storage facility located on a 2.6-acre site in Miami. The undisclosed seller sold the property, which features a bus maintenance facility, for $12.8 million. Situated near Miami International Airport, the facility was delivered in 2016 as a build-to-suit for Greyhound Lines, which will continue to use the property as a parking and repair center for another five years. The site includes developable land, plans for which were not disclosed.
SUNNY ISLES BEACH, FLA. — A partnership between Dezer Development and luxury automobile company Bentley Motors has broken ground on Bentley Residences Miami, a 62-story condominium tower. Located at 18401 Collins Ave. in Sunny Isles Beach, the beachfront development will feature 216 condos, each with glass-covered, three- and four-car sky garages all made possible utilizing four car lifts and a car elevator dubbed The Dezervator. The development will also feature a food-and-beverage program by chef Todd English, as well as a beach club and oceanfront pool deck. Other amenities will include a whiskey bar, cigar lounge, spa, cinema and salon. The general contractor, Coastal Construction, expects to deliver Bentley Residences Miami by the end of 2027. Dezer Development says that 40 percent of the condominiums have been sold, with prices starting at $5.6 million. Designed by Sieger Suarez Architects, residences will include high-end finishes including saunas, outdoor showers in select units and behind-mirror TVs.
MIAMI SPRINGS, FLA. — Marcus & Millichap has brokered the $9.2 million sale of single-tenant retail property located at 3600 S. Le Jeune Road in Miami Springs. Office Depot occupies the building on a triple-net-lease basis. Scott Sandelin of Marcus & Millichap represented the undisclosed seller, which acquired the property in 2012, in the transaction. Jorge Ruiz of Platinum Properties represented the undisclosed buyer.
PALM BEACH, FLA. — CBRE has arranged a 101,000-square-foot lease at Turnpike Logistics Center in Palm Beach, a city in South Florida’s Palm Beach County. National Millwork — a door, hardware and millwork company serving the multifamily residential construction market — will relocate its headquarters to a portion of Building 2, located at 1715 Meathe Drive, this summer. Kirk Nelson, Robert Smith and Jeff Kelly of CBRE represented the developer and landlord, Dalfen Industrial, in the lease negotiations.
MIAMI — A joint venture between Toll Brothers Campus Living and CanAm Capital Partners has completed Lapis, a 1,086-bed student housing development located adjacent to the Florida International University campus in Miami. The 20-story community spans more than 763,500 square feet and offers units in one-, two-, three-, four- and five-bedroom configurations. Shared amenities include a club room, indoor/outdoor fitness center, saltwater swimming pool, coffee bar, private study and group meeting rooms and a rooftop amenity deck with a Jumbotron and grilling stations. The design team for the development included Mary Cook Associates and Humphreys & Partners Architects. The community welcomed first residents in fall 2023.
HOLLYWOOD, FLA. — ANF Group has completed vertical construction at University Station, a $100 million mixed-use project in Hollywood, roughly 10 miles outside Fort Lauderdale. A public-private partnership between the City of Hollywood and Housing Trust Group (HTG) is the developer. Located at 421 N. 21st Ave., 309 N. 21st Ave. and 2031 Polk St., the development will comprise two residential towers and a standalone parking garage. Upon completion, the property will feature 216 apartments, more than 2,000 square feet of commercial space, 12,210 square feet of educational space for Barry University’s College of Nursing and Health Services and 635 parking spaces. More than half of the parking spaces (365) will serve the Broward Commuter Rail South Station that is planned between Tyler and Taylor streets along the Florida East Coast (FEC) Railway. Apartments at the development, which will span 621 to 899 square feet in one- and two-bedroom layouts, will be reserved for residents earning between 22 and 80 percent of the area median income (AMI). Monthly rental rates for the units will range from $374 to $1,634. Amenities will include a fitness center, multipurpose room and a swimming pool. The project team includes civil engineer HSQ Group, structural …
