CLEARWATER, FLA. — JE Dunn Construction Co. has been selected to build a new five-story patient and surgical tower at Morton Plant Hospital in Clearwater. The project will feature 230,000 square feet of new construction and 154,400 square feet of renovation. JE Dunn will begin construction on the tower in spring 2015 and will tentatively complete the project in December 2016. The new tower is part of a four-year, $200 million campus transformation program for the hospital, which is a member of BayCare Health System. Gresham Smith and Partners is the architect of record for the project.
Southeast
JENSEN BEACH, FLA. — CBRE has arranged the $17.3 million sale of Marketplace Square, a 173,292-square-foot retail center located at 3255 N.W. Federal Highway in Jensen Beach. Leon Capital Group purchased the asset from Kimco Realty Corp. The property is 73 percent leased to 20 tenants, including Hobby Lobby, Bank of America, KFC and Sonic. Dennis Carson and Casey Rosen of CBRE represented Kimco in the transaction.
FORT LAUDERDALE, FLA. — HFF has arranged the sale of il Lugano, a 105-suite luxury boutique hotel located at 3333 N.E. 32nd Ave. on the Intracoastal Waterway in Fort Lauderdale. Completed in 2008, the hotel features the da Campo Osteria restaurant, a lobby bar, outdoor event patio, outdoor resort-style pool with a sundeck, 10-slip private marina, fitness center, adjacent water taxi station, private parking garage and approximately 4,000 square feet of meeting space. Max Comess, Daniel Peek, Denny Meikleham, Scott Wadler, Alexandra Lalos and Cecily Nazario of HFF represented the seller, Il Lugano LLC, in the transaction. Il Lugano LLC is owned by the SageCrest Liquidating Trust, which is managed by John Huber, a managing director at SOLIC Capital Advisors. The buyer was an affiliate of Bridgewater, Mass.-based Claremont Cos.
CHARLOTTE, N.C. — SunTrust Bank has expanded its new regional headquarters in the Sharon Square mixed-use development in Charlotte’s SouthPark submarket. SunTrust has expanded its footprint by 19,000 square feet to accommodate the growth in its wholesale banking and private wealth management divisions. Sharon Square is now more than 80 percent leased to tenants such as Whole Foods Market, Corkbuzz Wine Studio and Dogwood Southern Table & Bar. Sharon Square’s ownership, Pappas Properties and Allen Tate Co., inked the lease with SunTrust. The Atlanta-based bank’s regional headquarters is expected to open later this fall.
ISLAMORADA, FLA. — HFF has secured $25.9 million in financing for The Islamorada Resort, an oceanfront property located at 80001 Overseas Highway in the Village of Islamorada in the Florida Keys. The resort is roughly 80 miles from Miami to the north and Key West to the south. The five-story property features 79 guest rooms, an Oceans 80 restaurant/tiki bar, resort-style pool, private beach and marina. Max Comess, Chris Drew, Maxx Carney and Alexandra Lalos of HFF’s Miami office arranged the loan through Bank of the Ozarks on behalf of the borrower, The Carlyle Group. The Carlyle Group is working with the resort’s operator Trust Hospitality and architect Malcolm Berg to renovate and reposition the property.
FORT LAUDERDALE, FLA. — Dockerty Romer & Co. has arranged a $19.7 million loan for two Class A office buildings in Fort Lauderdale’s Cypress Creek submarket. The properties, Cypress Plaza and Park Center, span a combined 158,737 square feet. Craig Romer of Dockerty Romer arranged the financing through NXT Capital on behalf of the borrower, Mainstreet Capital Partners.
RALEIGH, N.C. — NorthMarq Capital has arranged a $14.6 million refinancing of The Summit, a 121,250-square-foot office building in Raleigh. Todd Crouse of NorthMarq Capital arranged the seven-year loan with a 30-year amortization schedule through an unnamed life insurance company.
MEMPHIS, TENN. — The Shopping Center Group has brokered the sale of Countryside Center, a 35,500-square-foot shopping center in Memphis. The property is 75 percent leased to tenants such as Dollar General, Subway, Auto Radio, Math Made Simple and Continental Tire. Gary Shanks of The Shopping Center Group represented the seller, a Midwest-based life insurance company, in the transaction. John Reed of The Shopping Center Group represented the buyer, a private investor based in California.
CHARLOTTE, N.C. — The Ehmer Group has arranged the sale of the Country Inn & Suites by Carlson, Charlotte I-85 Airport, a 119-room hotel located at 2541 Little Rock Road in Charlotte. Richard Ehmer of The Ehmer Group represented the seller, Ra’s Hotels Inc., in the transaction. The buyer, Ye’s Hotels Inc., has retained Strand Development Co.’s Hospitality Services division to manage the hotel and oversee a $1.5 million property improvement plan that the hotel’s franchisor, Carlson Rezidor Hotel Group, implemented.
Did Richmond get hip while you weren’t looking? If you missed all of the skinny jeans, slim-fit plaid, tattoos, beards and craft breweries, then you were not paying attention. Is there a correlation between the amount of breweries, luxury apartments and historic rehabs? Maybe, but something is happening here and it has little to do with Richmond’s former designation as the Capital of the Confederacy and more to do with a vibrant and diverse culture, native-brick buildings, the James River, Virginia Commonwealth University (VCU) and a great quality of life. Millennials are flocking here and Richmond has gotten cooler (i.e. better) every year, albeit somewhat slowly. In terms of apartments, there are several hotspots in the area that continue to be, or are becoming, destinations to live, work, shop and play, and multifamily developments are leading the way. Shockoe Bottom is booming, Manchester is coming to life, Scott’s Addition & Boulevard could become Richmond’s SOHO, Short Pump is moving into Goochland County and does not seem to be stopping anytime soon, and Chesterfield County, once you get around the cash proffers, continues to surprise. Richmond has just over 70,000 units and a very stable vacancy rate of 4.5 percent. Class …