GAINESVILLE, FLA. — A beam signing ceremony was held for the new Heavener Hall, the University of Florida School of Business Building. The $22 million project is set to begin its vertical construction. Orlando-based SchenkelShultz Architecture, in conjunction with Robert A.M. Stern Architects of New York, designed the building to achieve LEED-Gold certification. The 56,200-square-foot building will be located near the corner of University Avenue and 13th Street on campus. The project will include class rooms, study rooms, academic advisement areas, informal collaboration zones, a café on the ground floor and offices. The new building is slated for a September 2014 completion.
Southeast
TAMPA, FLA. — Franklin Street Real Estate Services has arranged the $13.1 million sale of Seasons, a 240-unit apartment community located at 11305 N. 51st St. in Tampa. Darron Katton, Kevin Kelleher, Robert Goldfinger and Zach Ames of Franklin Street represented both the buyer, Seasons Property Holdings LLC, and the seller, Bayside Ventures IV LLC, in the transaction. Seasons has undergone more than $1.2 million in exterior renovations since January 2012, according to Franklin Street.
CLERMONT, FLA. — Marcus & Millichap has brokered the sale of Oakley Square Shopping Center, a 30,214-square-foot unanchored retail strip center located at 1500 Oakley Seaver Drive in Clermont. The shopping center sold for approximately $7.5 million. The shopping center’s tenants include AT&T, Firehouse Subs, The Vitamin Shoppe, Mattress One, Robata Japanese Steakhouse, CFE Credit Union, Key Health Pharmacy and Massage Envy. Ronnie Issenberg, Gabriel Britti, Jonathan Gerszberg and Roee Ben-Moshe of Marcus & Millichap’s Miami office represented the seller, an investment fund based in Bay Harbor Islands, Fla., in the transaction. Issenberg, Britti and Ben-Moshe also secured and represented the buyer, a Miami-based limited liability company.
NAGS HEAD, N.C. — CBRE | Hampton Roads has arranged the $2.7 million sale of South Beach Plaza, a two-building retail property located at 2424 S. Croatan Highway in Nags Head, part of North Carolina’s Outer Banks barrier islands. The 20,872-square-foot property’s tenants include Dunkin’ Donuts, Viva Mexican Restaurant, Sweet Frog Premium Yogurt and Jersey Mike’s. Patrick Gill and Joanna Hastings of CBRE | Hampton Roads represented the seller in the transaction.
PEACHTREE CORNERS, GA. — The city of Peachtree Corners has awarded Fuqua Development the right to build the $150 million Carillon Village, a mixed-use project that will create a pedestrian-friendly environment. The 20-acre development will be located on Peachtree Parkway, approximately 20 miles northeast of Atlanta in Gwinnett County. The project will include 150,000 square feet of retail that will feature a health club, restaurants and fashion tenants. The project will also contain Class A office space above 15,000 square feet of retail, along with 356 multifamily units and a 120-room boutique hotel. Throughout Carillon Village, which will be complete in fall 2014, the streets and sidewalks will connect to open spaces through walkways, plazas and landscaped areas. Fuqua Development will be in charge of developing the retail component of Carillon Village. Pope & Land Enterprises Inc. is the development coordinator. AMLI Residential will focus on the apartment development. Norcross, Ga.-based Cheeley Development is also a partner on the project.
MIAMI — Crews have begun demolition work on an existing structure at the site of Le Parc at Brickell, a planned 12-story luxury condominium building coming to Miami's Brickell neighborhood. The boutique condominium property will break ground later this fall, with an expected delivery in spring 2015. The project is a joint venture between Strategic Properties Group and ALTA Developers — a collaboration between Chile-based Aconcagua and Miami-based Archiplan USA. More than half of the building's 128 units have been sold, with prices ranging from the low $300,000s to about $700,000. The new project will overlook the adjacent Simpson Park. Amenities will include a fourth-floor pool deck, rooftop Skylounge with an outdoor bar/lounge area, fitness center, clubroom, entertainment area, business lounge with conference center, private entrance and garage parking. Le Parc at Brickell offers studio, one-, two- and three-bedroom layouts, along with two-story townhomes. Atton Hotels is developing a new 274-room hotel directly next door.
WEST PALM BEACH, FLA. — Miller Construction Co. has completed an environmentally friendly, 35,000-square-foot Ashley Furniture HomeStore showroom, located at 2101 Palm Beach Lakes Blvd. in West Palm Beach. The $5 million project is Miller Construction's 14th property for owner City Furniture, which operates 25 showrooms throughout southeast and southwest Florida, including 10 Ashley Furniture HomeStore locations. The store is designed to achieve LEED certification with high-efficiency climate control, lighting, plumbing and irrigation systems.
FORT WALTON BEACH, FLA. — Woodbine Development Corp. and InterMountain Management have commenced construction on a four-story, 112-room Marriott TownePlace Suites in Fort Walton Beach. An adjacent, waterfront parcel is also included in the transaction, which will soon house a yet-to-be-named restaurant up to 6,000 square feet. InterMountain will provide management services for the new hotel and Woodbine will provide asset management services for the property. The hotel is set to break ground in the summer of 2014. The project team also includes Jackson, Miss-based Harrell Contracting Group, Monroe, La.-based Architecture+ and Fort Walton Beach-based Choctaw Engineering Inc. Kevin Bethea of Realty House Commercial Properties is marketing the restaurant pad site.
DORAL, FLA. — Jones Lang LaSalle has completed three industrial property sales totaling 60,000 square feet in the Doral submarket of Miami. The sales price for the three acquisitions totaled $8 million. Steven Medwin and Nick Wigoda of JLL represented Smile Market, a cameras and accessories company, in its $2.4 million acquisition of an 18,500-square-foot warehouse at 3381-3389 N.W. 97th Ave. Kaizen Realty represented the seller, Chesapeake Bay International Inc., in the transaction. JLL also represented Vaxtronic LLC in its $2.3 million purchase of an 18,753-square-foot warehouse at 2150 N.W. 102 Place. Vivo Realty represented the seller, MJMB Enterprises Inc., in the transaction. Medwin, Wigoda and JLL's Matt Maciag also represented Americatel Inc. in its $3.3 million sale of a 21,000-square-foot office/flex building at 4045 N.W. 97th Ave. The buyer was Florida City Gas.
ATLANTA — Atlanta-based IDI, a leading full-service industrial real estate company, has merged with Verde Realty in a $1.1 billion transaction. The new entity, which will operate under the IDI name, has combined assets valued at more than $2 billion. The company will have offices in 11 cities in the U.S. and Mexico, and its headquarters will remain in Atlanta with Timothy Gunter retaining the title of president and CEO. The deal doubles the number of buildings in IDI’s portfolio to a total of 179, totaling 45 million square feet. Additionally, IDI now has landholdings available for 53 million square feet of buildable space. Verde Realty is an existing majority-owned real estate holding of Brookfield Property Partners LP (NYSE: BPY, TSX: BPY.UN) and its institutional partners. The transaction makes Brookfield’s portfolio of industrial real estate holdings among the largest in North America.