Florida

Tricera Capital Inks Office Leases Totaling 42,029 SF in South Florida

by John Nelson August 18, 2023

BOCA RATON AND WEST PALM BEACH, FLA. — Tricera Capital has secured one lease expansion and two new leases totaling 42,029 square feet in South Florida. The deals include Wells Fargo expanding its lease by 19,000 square feet at Tricera’s 1675 Midtown office building at 1675 N. Military Trail in Boca Raton, bringing the bank’s total footprint to 45,000 square feet. Built in 2008, the building totals roughly 70,000 square feet. The other deals include PMP Marketing Agency signing a 5,100-square-foot lease and Palm Beach Atlantic University leasing 17,929 square feet at Workspaces at the Press in West Palm Beach, which totals 120,000 square feet and is situated within the mixed-use The Press development. John Criddle, Joe Freitas and Christ Smith of CBRE manage leasing at 1675 Midtown, and Jon Blunk, Cristina Glaria, Connie Thomas and Laurel Oswald of TCRE overseeing leasing at Workspaces at The Press. Robert Anderson of Tortoise Realty Group represented the university in the lease negotiations.

August 18, 2023

Acquisitions Florida Industrial Southeast

CBRE Brokers Sale of 1.4 MSF Industrial Portfolio in Jacksonville

by John Nelson August 17, 2023

JACKSONVILLE, FLA. — CBRE has brokered the portfolio sale of two industrial properties in Jacksonville totaling nearly 1.4 million square feet. Dallas-based Hillwood Investment Properties purchased the portfolio from Atlanta-based Invesco Real Estate for an undisclosed price. Jose Lobon, Trey Barry, Frank Fallon, Royce Rose, Alain Bonvecchio and Ben Stewart of CBRE represented the seller in the transaction. The properties include a 772,210-square-foot facility at 1200 Presidents Court that is leased to Unilever. Built in 2008, the property features 32-foot clear heights, 90 dock doors, ESFR sprinklers, 186 car parking spaces and 255 trailer parking spaces. The other asset is a 601,500-square-foot facility located at 2300 Pickettville Road that is leased to Keurig Dr. Pepper. Built in 2009, the building features 32-foot clear heights, 128 dock doors, ESFR sprinklers, 326 car parking spaces and 118 trailer parking spaces. Both facilities feature cross-dock loading and are situated in Jacksonville’s Westside industrial submarket.

August 17, 2023

Acquisitions Development Florida Multifamily Southeast

Colliers Arranges $7.5M Sale of Multifamily Development Site in Metro Miami

by John Nelson August 17, 2023

HIALEAH, FLA. — Colliers has arranged the $7.5 million sale of a multifamily development site located at 1033 E. 25th St. in Hialeah, a suburb of Miami. Virgilio Fernandez of Colliers represented the undisclosed buyer and seller in the transaction. The shovel-ready site, which spans less that one acre, is located a half-block from the intersection of the Metrorail substation and the Tri-Rail Metrorail Transfer Station. The project, dubbed Metro 1025, is zoned for up to 151 apartments across eight stories. The buyer received final site plan approval and a complete set of entitlements from the City of Hialeah to build the multifamily project. The construction timeline was not disclosed.

August 17, 2023

Development Florida Loans Multifamily Seniors Housing Southeast

Concord Summit Capital Arranges $122M Construction Financing for Active Adult Residential Project in Port St. Lucie, Florida

by John Nelson August 16, 2023

PORT ST. LUCIE, FLA. — Concord Summit Capital has arranged a total of $122 million in construction financing for the development of Encore at Tradition, a 415-unit active adult residential community underway in Port St. Lucie. David Larson, Daniel Eidson and Keegan Burger of Concord Summit arranged the financing, which comprised a $95 million principal loan and $27 million in mezzanine debt. Madison Realty Capital provided the senior loan, and the lender for the mezzanine loan was not disclosed. The borrower is America Walks at Port St Lucie LLC, a partnership between Pride One Construction, Brokaw Development Services and Riley Hotel Group that has collectively built more than 20,000 multifamily units. The borrower is using the funds to recapitalize the existing construction debt and complete the project. Encore at Tradition is roughly 40 percent complete and has a target delivery date of second-quarter 2024. The gated community is reserved for households age 55 and up and will feature one- and two-bedroom units ranging in size from 750 to 1,250 square feet, as well as two-bedroom villas spanning 2,030 square feet. Onsite amenities will include a salon, movie theater room, golf simulator, resort-style clubhouse, pickleball courts and medical/physical therapy services.

August 16, 2023

Acquisitions Florida Retail Southeast

Marcus & Millichap Brokers $6.9M Sale of Miami Store Leased to Walgreens

by John Nelson August 16, 2023

MIAMI — Marcus & Millichap has brokered the $6.9 million sale of a single-tenant retail property located at 1699 N.W. 7th St. in Miami. The store is net-leased to Walgreens. An unnamed individual/personal trust purchased the property from the undisclosed seller. Jonathan De La Rosa and Eduard Toledo of Marcus & Millichap’s Miami office represented the buyer in the transaction. The store, which is located directly across the street from LoanDepot Park, the home ballpark for the Miami Marlins, is situated on land zoned for 180 multifamily units up to eight stories.

August 16, 2023

Acquisitions Arizona Florida Retail Western

SRS Real Estate Negotiates $94M Sale of Seven EoS Fitness-Occupied Properties in Arizona, Florida

by Amy Works August 16, 2023

ARIZONA AND FLORIDA — SRS Real Estate Partners has arranged the sale of seven single-tenant EoS Fitness properties in Arizona and Florida for a combined purchase price of $94 million. Barclay Group sold the properties to a publicly traded REIT. Patrick Nutt and William Wamble of SRS Capital Markets represented the seller. Tyler McRae of SRS, along with Echelon Realty Advisors, were responsible for leasing the assets on behalf of EoS Fitness. The portfolio comprises three new-construction gyms that opened in 2023, as well as four formerly vacant grocery stores that are currently undergoing redevelopment. All of the properties have 15-year, corporate-guaranteed, triple-net leases in place with scheduled rental increases. The properties include:

August 16, 2023

Acquisitions Florida Illinois Midwest Retail Southeast Top Stories

Aldi to Acquire Winn-Dixie, Harveys Supermarket from Southeastern Grocers

by Kristin Harlow August 16, 2023

BATAVIA, ILL. AND JACKSONVILLE, FLA. — German discount grocer Aldi has entered into a definitive agreement to acquire Winn-Dixie and Harveys Supermarket as part of a larger divestiture of Jacksonville-based parent company Southeastern Grocers to various entities. Financial terms of the transaction were not disclosed. The Southeast-focused acquisition includes approximately 400 Winn-Dixie and Harveys locations across Alabama, Florida, Georgia, Louisiana and Mississippi. Aldi, which maintains its U.S. headquarters in Batavia, Ill., first established its presence in the Southeast in the mid-1990s and has since invested $2.5 billion in the region. Most recently, Aldi opened its 26th regional headquarters and distribution center in Loxley, Ala., to help support new stores in the region. The retailer plans to open 20 new locations in the area by the end of the year. Jason Hart, CEO of Aldi, says the acquisition supports Aldi’s long-term growth strategy across the country. The grocer plans to open 120 new stores this year to reach a total of more than 2,400 stores by year’s end. Aldi will evaluate which Winn-Dixie and Harveys locations will be converted into Aldi stores. The stores that are not converted will continue to operate under the Winn-Dixie and Harveys brands. Deutsche Bank served …

August 16, 2023

Development Florida Industrial Southeast

Seagis Property Group Nears Completion of 118,000 SF Industrial Facility Near Miami International Airport

by John Nelson August 15, 2023

DORAL, FLA. — Pennsylvania-based Seagis Property Group is nearing completion of a 118,000-square-foot warehouse project near the cargo entrance of Miami International Airport. The speculative facility, which is estimated as being 75 percent complete, is located at 8315 N.W. 27th St. in Doral. Situated within Transal Park, the rear-load warehouse will feature 32-foot clear heights, 32 dock doors and 110 automobile parking spaces. Sebastian Juncadella and Jose Juncadella of Fairchild Partners are marketing the project for lease on behalf of Seagis, which expects to deliver the property by the end of the year.

August 15, 2023

Development Florida Restaurant Retail Southeast

Barron Colliers Breaks Ground on 21,000 SF Retail Strip Center in Southwest Florida

by John Nelson August 15, 2023

AVE MARIA, FLA. — Barron Collier Cos. has broken ground on a new 21,000-square-foot retail strip center in Ave Maria, a master-planned community in Southwest Florida. Located at the corner of Ave Maria Boulevard and Anthem Parkway, the property will house NCH Immediate Care Center, Ace Hardware, Dunkin’, Ledo Pizza and Cold Stone Creamery. Barron Colliers plans to open the retail center in summer 2024. According to the Naples, Fla.-based developer, about 430 homes have been sold in the Ave Maria community so far this year.

August 15, 2023

Acquisitions Florida Seniors Housing Southeast

Grandbridge Arranges Sale of Three Seniors Housing Communities in Florida

by John Nelson August 14, 2023

BROOKSVILLE, LAKE PLACID AND SPRING HILL, FLA. — Grandbridge Real Estate Capital has arranged the sale of three seniors housing communities in Florida on behalf of a national REIT. Florida-based TJM Properties Inc. acquired two of the properties: The Grande, a 144-unit independent living, assisted living and memory care community in Brooksville, and Balmoral, a 125-unit assisted living and memory care community in Lake Placid. An undisclosed, Florida-based buyer purchased the third property — Forest Oaks, an 80-unit assisted living and memory care community in Spring Hill. This sale completes the disposition of a portfolio totaling eight properties that Grandbridge arranged for the seller. Dave Kliewer and Jay Jordan led the Grandbridge team in selling the communities.

August 14, 2023

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