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  • 03/28/2024 7:24 PM | Debbie Colangelo-Admin (Administrator)

    J.R. Horan is Principal at Red Fox Construction.

    J.R. started his business last year after serving in various roles within the construction industry over the course of the last 19 years. 

    Red Fox Construction focuses on commercial and industrial construction. 

    Some of the types of projects that he targets include office buildings, healthcare, restaurants, warehousing, cold storage facilities, manufacturing facilities, production lines, and several others.  

    J.R. can be reached at jr@redfoxfl.com.


  • 03/27/2024 3:31 PM | Debbie Colangelo (Administrator)

    Standard Real Estate Investments is making an equity investment in the Apopka Business Center via its $150 million investment vehicle.

    Located at 444 Hermit Smith Rd. on a 79-acre industrial site in the Apopka submarket of Orlando, the project will be developed by developer Trammell Crow Company and include three buildings. The first phase of Apopka Business Center is expected to be completed in 1Q 2025.

    The first phase of the Apopka Business Center will consist of two shallow-bay, 32-foot clear, rear-load buildings totaling 267,000 square feet. The layout will provide flexibility for a variety of tenants, with the ability to build office spaces on the end caps, as well as in-line. The shell building is being delivered with storefronts in place and will be able to serve tenants as small as 20,000 square feet. The second phase of the park has the flexibility to accommodate a fully permitted 450,000-square-foot build-to-suit tenant, or can be repositioned for two shallow-bay buildings.

    Source:  ConnectCRE

     


  • 03/26/2024 7:03 PM | Debbie Colangelo-Admin (Administrator)

    Basis Industrial closed on the purchased of the 96,810-square-foot Global Business Center, a multi-tenant industrial property located at 5776, 5790 and 5818 Hoffner Avenue in Orlando near Orlando International Airport for $19.5 million.

    The transaction closed on March 22.

    Basis President/COO Anthony Scavo and Head of Acquisitions Ahmad Elayyan represented the company in the off-market transaction.

    Nick Hanson and Nick Ledvora of LH Capital Partners and Bill Bywater of The Bywater Company represented seller Jun Tagami.

    Reinsurance Group of America (RGA) is providing financing for the purchase. Current tenants include MicroGenDX, Leak Testing, Sherwin Williams, Innova, US Army, V12 Promotions, CreditMax, and more.

    Basis’ planned renovations to the property include roof maintenance and replacement, exterior upgrades and improvements, interior suite renovations, CCTV, and signage for BaySpace, the property management arm of Basis Industrial.

    Basis Industrial is a privately held and vertically integrated real estate owner and operator based in Boca Raton, Florida.

    The purchase represents Basis’ continued expansion into the Orlando market. In December 2022, the company purchased the 196,000-square-foot multi-tenant industrial flex space next door, formerly known as the Orlando International Business Center, for $36.5 million. This will bring Basis’ total holdings in the Orlando Metropolitan Statistical Area (MSA) to over 1.5 million square feet.

    “We are very happy to expand further into the Orlando market,” said Scavo. “The Global Business Center has been under the same ownership for 30 years and has never been marketed for sale. Along with the former Orlando International Business Center which we purchased in 2022, we are excited to own these two side-by-side properties. We plan to continue expanding in and around Orlando.”

    Additional Orlando-area properties that Basis has previously purchased include:



  • 03/21/2024 4:48 PM | Debbie Colangelo-Admin (Administrator)

    Orlando-based CTO Realty Growth acquired the Marketplace at Seminole Towne Center, a 318,000-square-foot multi-tenant retail power center in Orlando, for a purchase price of $68.7 million, equating to approximately $216 per square foot.

    CTO Realty Growth’s John P. Albright adds, “Seminole Towne Center provides a stable income stream and growth potential, and due to its prime location and strong community ties, we see attractive potential upside from below-market rents. We believe we acquired the property below replacement cost.”

    The property is 98% occupied and is anchored by Burlington, Marshalls, World Market, Petco, Ross Dress for Less, Old Navy, Ulta Beauty, and Five Below. Seminole Towne Center is situated on 41 acres along I-4 and SR 417, just over 20 miles north of downtown Orlando.

    The company purchased the property through a 1031 like-kind exchange using $24.1 million of restricted cash generated from the company’s previously completed property dispositions, as well as available cash and draws from the company’s unsecured revolving credit facility.

     

    Source:  ConnectCRE


  • 03/20/2024 8:56 PM | Debbie Colangelo (Administrator)

    SRS Real Estate Partners has brokered the $3.7 million sale of a 6,119-square-foot gas station and convenience store situated on 2.3 acres at 8300 S.W. 100th St. in Ocala.

    The newly constructed property has a 20-year, corporate-guaranteed ground lease in place with Wawa.

    Patrick Nutt and William Wamble of SRS represented the seller, an unnamed development firm based in Florida, in the transaction. The undisclosed, privately held buyer is based in Arizona and purchased the property in a 1031 exchange.

     

    Source:  RE Business


  • 03/18/2024 10:53 AM | Debbie Colangelo (Administrator)

    A local developer wants to build a mixed-use development with retail and residential components on a prime location along Plant Street in Downtown Winter Garden.

    Orlando-based Atrium Capital Group is behind the project, Plant Street Commons, which is proposed to include ten apartments, eight two-story townhomes, and approximately 5,000 square feet of retail. The property is located at 419 W. Plant. St. on the northwestern corner of Plant St. and N. Central Ave.

    A three-story building with ground-floor retail will front Plant Street, with the top two floors holding ten apartments. Additionally, the plans call for three townhomes to be built along Central Ave. and five townhomes to face Bay St. to the north of the property. There will also be a total of 27 parking spaces, 16 of which will be set aside for retail, 20 for apartment residents, and 16 for the townhomes in rear-facing garages.

    Property records indicate that Atrium purchased the approximately 1-acre property for about $1.9 million in June 2022. Currently, the property holds two-single family homes along Bay Street, which will be replaced by townhomes. The current zoning for the property is Planned Commercial District (PCD) with a future land use of low-density residential.

    Atwell is the civil engineer and surveyor on the property, and Silling Architects is the project architect.

    “Plant St Commons will provide 5,000 SF of retail on Plant St, 10 Apartments, and 8 Townhomes on the backside of the site transitioning into the neighborhood. Winter Garden, with its undeniable beauty, serves as the perfect location for this small-scale mixed-use project”, said Adam Wonus, Partner at Atrium Capital Group, in a statement provided to GrowthSpotter.

    Wonus said that the project is still preliminary, so it is too early on in the process to be looking for tenants for the retail. However, retail space is in high demand in Downtown Winter Garden, which is known for its shops, dining options, and weekly farmers market. Downtown Winter Garden hasn’t seen the explosive kind of growth that other parts of the city have in recent years, but the neighborhood continues to steadily grow with small infill developments.

     

    Source:  GrowthSpotter


  • 03/08/2024 2:39 PM | Debbie Colangelo (Administrator)

    Construction is about to commence on a new retail project that will bring a well-known specialized grocery store and a fitness brand with headquarters in Phoenix to Brevard County.

    A subsidiary of the Atlanta-based investment company Longline Holding LLC, Longline Financial, stated on March 1 that it had lent $29.65 million to Tampa-based developer Barclay Group for the building of Pineda Commons, a planned retail development on Melbourne's north side.

    Two global tenants will serve as the project's pillars. The city of Melbourne has granted permits for a $4.2 million, 23,479-square-foot Sprouts Farmers Market grocery store and a $10.1 million, 42,414-square-foot EoS Fitness facility.

    Two other permits that the city has granted for Pineda Commons are for a 1,857-square-foot Fifth Third Bank branch, valued at $3 million, and a 7,000-square-foot inline retail building with five different spaces for lease, valued at $1.3 million.

    A site plan also reflects additional outparcel opportunities, including three ground-leased properties.

    Pineda Commons will rise on 17.8 acres at 5185 and 5195 N. Wickham Road, just south of the Pineda Causeway.

     


  • 02/15/2024 4:45 PM | Debbie Colangelo (Administrator)

    Now in its 16th year, the Lay of the Land Conference is considered Florida’s largest land conference, bringing together landowners, policymakers, investors and industry professionals seeking information on trends and the state of the Florida land market.

    Industry experts  will discuss market trends in conservation, agricultural, timberland, transportation/Infrastructure and residential construction in rural Florida. This forum provides a great opportunity to meet the key players behind some of Florida's largest land deals and learn about Florida’s renewed efforts to buy land for conservation. 

    At the conference, SVN | Saunders Ralston Dantzler will release its annual Lay of the Land Market Report, which provides sales data on all land property types, including Ranch & Recreational, Residential Development, Timberland, Citrus, Transitional Land, and Conservation Easements.

    SVN | SRD collects the sales data using a proprietary software system. This exclusive report is the only source of verified Florida land sales. We will be able to schedule interviews for you with individual panelists. 

    Confirmed speakers include:

    • Wilton Simpson, Florida Commissioner of Agriculture
    • Wendi McAleese, President - American Government Services
    • Lenord Johnson, Partner - Johnson Pope Bokor Ruppel & Burns, LLP
    • Andrew Walmsley, Director of Legislative Affairs - Florida Farm Bureau Federation
    • Jerry D. Parrish, Ph.D., Economist - Florida State University
    • John T. “Jack” Vogel, President and Co-Founder / Consulting Forester - Natural Resource Planning Services
    • Ben Mills, Vice President, Sales - Carden & Associates, Inc.
    • (Additional Speakers to be Announced)

    Thursday, February 29, 2024 | 12:30 - 5:00 PM ET

    Friday, March 1, 2024 | 8:30 AM - 1:00 PM ET

    Bonnet Springs Park, 400 Bonnet Springs Boulevard, Lakeland, FL 33815


    The 2023 Lay of the Land Conference will be held at the Bonnet Springs Park Event Center, which is Central Florida’s premier destination. The 168-acre park in downtown Lakeland features a state-of-the-art event center, coffee shop, café, rooftop bar, and so much more!

    ------------

    [The Lay of the Land conference is the brainchild of SVN | Saunders Ralston Dantzler co-founder Dean Saunders, who has been a leading force behind Florida’s conservation efforts. As a former state legislator in the 1990s, he wrote the legislation to establish the Green Swamp Land Authority, the first state entity to purchase development rights (PDR) from landowners. The legislation was truly a pioneering concept with no formal program in place within the State at the time, and was the driving force behind Florida conserving over one million acres of land in approximately three decades.

    At the conference, industry experts will discuss the current and future value of land as well as current trends fueled by the current economic climate.] 



  • 02/13/2024 5:01 PM | Debbie Colangelo (Administrator)

    A Publix-anchored shopping center in Seminole County has sold for $40.3 million.

    The Site Center sold the Casselberry Commons retail center to JBL Asset Management.

    The 248,683-square-foot shopping center sits on about 20 acres at the northwest corner of Semoran Boulevard/State Road 436 and Howell Branch Road.

    Anchored by a 47,317-square-foot Publix grocery store, the center includes national tenants such as Burlington, T.J. Maxx, Five Below and Firehouse Subs.

    The property was 90% leased at the time of sale. 11 vacant spaces available for lease, ranging from 600 to 7,930 square feet in size. The Orlando Business Journal reports two out-parcel buildings — Metro Diner and LensCrafters — are part of the traded property. Some others, including Burger King, Arby’s, Starbucks, Pollo Tropical, Dunk’n and Chase Bank, have other owners.

    The property last sold for $17.4 million in 1999 to Inland Retail Real Estate Trust, which was later acquired by Site Centers.

     

    Source:  Connect CRE


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