Florida

Codina Partners to Add 25,000 SF of Retail Space to Downtown Doral in South Florida

by John Nelson January 31, 2024

DORAL, FLA. — Codina Partners will add 25,000 square feet of retail space to Downtown Doral, the developer’s 250-acre mixed-use community in Miami-Dade County. The new plans for Downtown Doral include the addition of 13 customizable retail units with a rooftop deck featuring amenities including pickleball courts. Plans also include 929 additional parking spaces. Established in 2005, the development features more than 40 existing restaurants and retailers, a cultural arts center, two charter schools, a library, government center and clinics operated by Baptist Health South Florida. Existing tenants include AT&T, Bulla Gastrobar, First American Bank, Hand and Stone Massage & Facial Spa, Mega Wine & Spirits, Publix, Sage Dental, Sweat 440 and The UPS Store, among others.

January 31, 2024

Development Florida Mixed-Use Retail Southeast

Ryan Cos. Completes 59,657 SF Publix Store at Master-Planned Development in Wesley Chapel, Florida

by John Nelson January 30, 2024

WESLEY CHAPEL, FLA. — Ryan Cos. has opened a new Publix grocery store that serves as the anchor tenant of Innovations Commons, a retail center within the 900-acre Epperson Ranch master-planned development in Wesley Chapel. The city in Pasco County is part of the Tampa Bay metro area. In addition to Innovations Commons, Epperson Ranch will feature 4,000 single-family homes, a 200-room hotel and more than 500 apartments at full build-out. Innovation Commons will also include three outparcel developments slated for additional retail, restaurants and professional services.

January 30, 2024

Florida Industrial Leasing Activity Southeast

Prologis Signs Seaboard Marine to 308,000 SF Lease Renewal at Industrial Park in Medley, Florida

by John Nelson January 30, 2024

MEDLEY, FLA. — Prologis has signed Seaboard Marine Ltd. to two lease renewals at Prologis Palmetto Tradeport, an 880,000-square-foot industrial park in Medley, a city in Miami-Dade County. The two leases, for facilities located at 7800-7890 N.W. 80th St. and 8001 N.W. 79th Ave., total 308,000 square feet. Brian Smith of JLL represented Prologis in the lease transactions. Jonathan Kingsley of Colliers represented the tenant. Situated near Miami International Airport and PortMiami, Prologis Palmetto Tradeport is located adjacent to the Medley Metrorail Station and features three acres of outside storage. Seaboard Marine is a global ocean carrier offering shipping services between the Caribbean, North, Central and South America. The company, which is the largest cargo operator at PortMiami, has a 25-vessel fleet and more than 60,000 shipping containers.

January 30, 2024

Development Florida Healthcare Southeast

Cullinan Properties Opens 150,000 SF VA Mental Health Center in Temple Terrace, Florida

by John Nelson January 26, 2024

TEMPLE TERRACE, FLA. — Cullinan Properties has opened the new Tampa VA Mental Health Center in Temple Terrace, about 10 miles northeast of Tampa. Totaling 150,000 square feet, the facility will house multiple mental health programs, including outpatient mental health consultation services, therapy, substance abuse treatment, intensive case management, post-traumatic stress disorder (PTSD) treatment and employment and peer services. Outdoor amenities at the site, which spans 20 acres, include gardens, courtyards and walking paths. Cullinan broke ground on the development in 2021. The project team also included architecture and design firm Leo A. Daly, general contractor Hoar Construction, civil engineer Prosser and property management firm Lincoln Harris CSG.

January 26, 2024

Florida Loans Retail Southeast

Berta Management Secures $18.5M Financing for Delray Corner Shopping Center in South Florida

by John Nelson January 26, 2024

DELRAY BEACH, FLA. — Berta Management has secured an $18.5 million loan for the refinancing of Delray Corner, a shopping center located at 14802 S. Military Trail in Delray Beach. Justin Neelis of Concord Summit Capital arranged the five-year, fixed-rate financing on behalf of the borrower. The South Florida retail center comprises 86,043 square feet of leasable space. Michaels is scheduled to open a 25,600-square-foot store in the first quarter of this year as the new anchor tenant, taking over a renovated space formerly occupied by Bed Bath & Beyond. Other tenants at the property include Conviva, CVS/pharmacy and Starbucks Coffee.

January 26, 2024

Development Florida Office Southeast

Sterling Bay, Key International Propose 51-Story Office Tower in Miami’s Brickell District

by John Nelson January 25, 2024

MIAMI — Sterling Bay has joined Key International as a co-developer for 848 Brickell, a proposed 51-story mixed-use tower in downtown Miami’s Brickell district. Plans for the Class A tower include 750,000 square feet of creative offices, structured parking for 1,000 vehicles and 7,500 square feet of ground-level retail space. The project is pursuant to zoning approval by Miami-Dade County. Skidmore, Owings & Merrill designed the tower, amenities of which would include tech-enabled conference facilities, a high-end fitness center, outdoor terrace, padel tennis courts and private open-air lounges.

January 25, 2024

Acquisitions Florida Retail Southeast

Marcus & Millichap Arranges $7.5M Sale of Retail Center in Longboat Key, Florida

by John Nelson January 25, 2024

LONGBOAT KEY, FLA. — Marcus & Millichap has arranged the $7.5 million sale of Centre Shops, an oceanfront retail center located at 5370 Gulf of Mexico Drive in Longboat Key, a barrier island near Sarasota, Fla. Situated on a 4.7-acre site in Manatee County, the five-building property features 37,880 square feet of retail space that was 95 percent leased at the time of sale to tenants including Lazy Lobster Restaurant, Longboat Key Flower Shop, Pilates Longboat Key, La Norma Italian, Blue Dolphin Café, The UPS Store and Longboat Resort Wear. Nearly two-thirds of the tenant roster has operated at the retail center for seven years or longer. James Medefind of Marcus & Millichap’s Tampa office represented the Florida-based seller in the transaction. Jeff Enck of SRS Real Estate Partners represented the undisclosed buyer. Centre Shops has recently undergone improvements including new roofing and exterior lighting and a revamped parking lot.

January 25, 2024

Montbello-Industrial-Portfolio-Denver-CO

Acquisitions Arizona California Colorado Florida Industrial Western

Stockbridge Capital Sells 1.7 MSF Project RedHawk Industrial Portfolio

by Amy Works January 25, 2024

SAN FRANCISCO — San Francisco-based Stockbridge Capital Group has completed the disposition of Project RedHawk, a 1.7 million-square-foot light industrial portfolio spread across multiple markets. The portfolio was sold in four separate transactions to two different buyers between December 2023 and January 2024 and comprises four sub-portfolios totaling 49 buildings in Tempe, Ariz.; San Jose, Calif.; Denver; and Pompano Beach, Fla. BKM Capital Partners acquired Gateway University Park I & II, a 16-building, 258,409-square-foot asset at 1605-1635 and 1705-1797 W. University Drive in Tempe, and Junction Business Park, a two-building, 119,101-square-foot property at 1911-1943 Hartog Drive and 1914-1968 Junction Ave. in San Jose. A partnership between a global manager of alternative investments and Brennan Investment Group purchased The Montebello Industrial Portfolio, a 17-building, 856,013-square-foot asset in Denver, and Powerline Business Park, a 14-building, 444,120-square-foot in Pompano Beach, Fla. Jim Carpenter and Will Strong of Cushman & Wakefield’s National Industrial Advisory Group, along with IAG’s Kirk Kuller, Michael Matchett, Molly Hunt, Mike Davis, Rick Brugge, Rick Colon, Dominic Montazemi, Jeff Chiate, Rick Ellison and Matthew Leupold, in partnership with Robert Buckley, Tracey Cartledge, Scott Prosser, Steve Hermann and Jack Depuy of Cushman & Wakefield represented all parties in the transactions. Gideon Gil, …

January 25, 2024

Affordable Housing Development Florida Leasing Activity Mixed-Use Multifamily Office Restaurant Retail Seniors Housing Southeast Top Stories

SG Holdings Completes Leasing at $350M Mixed-Use Development in Miami, Plans Summer Opening

by John Nelson January 25, 2024

MIAMI — SG Holdings has completed leasing at Sawyer’s Walk, a 3.4-acre mixed-use development underway in Miami’s Overtown neighborhood. The project, which will feature retail space, offices and affordable housing for seniors, is set to open this summer. SG Holdings is a partnership comprising Swerdlow Group, SJM Partners and Alben Duffie. The development team broke ground on Sawyer’s Walk in summer 2021. The development costs were not disclosed, but the Miami Herald reported the price tag hovers around $350 million. “The anticipated delivery of our mixed-use development will serve as an economic catalyst for Overtown, with the creation of over 1,000 quality jobs, the opening of a new full-service supermarket and mix of national retail stores that will serve the immediate community and surrounding neighborhoods,” says Michael Swerdlow, managing partner of Swerdlow Group. Sawyer’s Walk will feature 175,000 square feet of retail space. Committed tenants include Target (50,000 square feet), Aldi (25,000 square feet), Ross Dress for Less, Five Below, Tropical Smoothie Café and Burlington. MSC Group, a global cargo ship line and the world’s third-largest cruise line, purchased the property’s 130,000 square feet of office space with plans to combine its South Florida cruise and cargo operations under one roof. …

January 25, 2024

Development Florida Industrial Southeast

KeHE Distributors Underway on 530,474 SF Industrial Facility in North Florida

by Hayden Spiess January 23, 2024

ELKTON, FLA. — KeHE Distributors is underway on the development of a 530,474-square-foot build-to-suit industrial facility in the St. Augustine suburb of Elkton, which will provide office and distribution space for the company. KeHE distributes natural and organic, specialty and fresh food products to more than 31,000 stores throughout North America. The project comprises a two-story, 30,000-square-foot executive office suite, as well as roughly 500,000 square feet of warehouse and distribution space. The new facility will replace the company’s older buildings, which are situated across the street from the development site. Completion of the development is scheduled for 2025. Design firm Ware Malcomb is providing architecture, interior design and branding services for the project, and Evans General Contractors is constructing the facility.

January 23, 2024

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