Colliers has arranged the $26.4 million sale of Volusia Square, a 193,923-square-foot shopping center located at 2455 W. International Speedway Blvd. in Daytona Beach.

Brad Peterson and Whitaker Leonhardt of Colliers represented the seller, Lamar Cos., in the transaction. Mosaic Realty Partners purchased the shopping center, which is situated less than 300 yards from Daytona International Speedway.

Volusia Square was 97.2 percent leased at the time of sale to tenants including Urban Air Adventure Park, Amped Fitness, Ollie’s Bargain Outlet and Restaurant Depot Express. Three retail outparcels were included in the sale, including two single-tenant buildings occupied by Buffalo Wild Wings and Arby’s and a multi-tenant building leased to Lenscrafters and Cava.

Source:  RE Business

Patrick Mahoney, CEO at NAI Realvest, announced that Andy McCaw has been promoted to Senior Vice President, Tenant Representation.

Andy McCaw’s vision in 2000 was to give every office tenant top quality representation without conflicts of interest or bias impacting their real estate options and decision process. He puts tenants at an even negotiating table with landlords and sellers. Not only does Andy represent clients when they move, but also helps them when they want to stay where they are.

“We represent them when they exercise an option, renew a lease, or sublease excess space,” he said. “Anything that has to do with office space that a tenant occupies.” Mahoney added, “Andy’s dedication to his clients has resulted in a substantial number of closed deals worth over $630 million to date. He has more than earned this promotion.”

The next meeting will be:

Friday, November 8th, 2024

Doors open at 8:30AM
Meeting starts at 9:00AM
at the

NEW! Orlando Regional Realtors (ORRA) Building

5421 Diplomat Circle, Orlando

(Gulf Classroom-Behind Home Depot)

(Your properties must be on TotalCommercial to be presented.)

Sponsored by the Florida CCIM Chapter Central District since May 2008
Co-sponsored by ORRA Commercial Council and CFCAR | CFCREA.

NO REGISTRATION NEEDED
Just show up ready to make some money!

Hope to see you there!

Breakfast Provided by CFCAR

On Tuesday, Orange County Commissioners unanimously voted to extend the Zoning in Progress ordinance, pausing certain new developments until June 2025.

Developers have until December 11 to submit new applications before the extension takes effect.

The new ordinance, which replaces the one from May, imposes a six-month pause on applications for land use amendments, rezonings, and special exceptions, but only in specific unincorporated areas of the county, excluding high-growth regions like Horizon West and Avalon Park.

This pause aims to facilitate the adoption of the updated Vision 2050 comprehensive plan and Orange Code, which has been delayed until June 3. County officials noted the importance of addressing public input and ensuring clarity for local schools regarding planning for new facilities.

Vision 2050 anticipates an influx of 500,000 new residents by 2050, directing 41% of this growth toward targeted areas like the I-Drive Corridor, aiming for more walkable, mixed-use developments. Currently, the county is exploring development options for vacant properties near the future SunRail station, including plans for nearly 2,700 multifamily units and commercial space.

Source:  GrowthSpotter

Rodrigo Rocha is a real estate broker and co-owner of R & Rocha Imoveis in Brazil.

Rodrigo is looking to expand his knowledge in the American real estate market and, with that, he joined CFCREA to learn about the methodology and information to be able to add more transparency to the Brazilian real estate market and, in the future, be able to make recommendations to American professionals for Brazilian clients who are interested in investing in the American market in vacation and rental homes.

"The American market is known for being one of the investments with the greatest security and quality in the world," explained Rodrigo.

Stonemont Financial has secured LG Electronics USA as a tenant for a full-building lease at the Lakeland Commerce Center, located about 30 miles from Tampa via I-4.

LG will occupy Building 400, a 348,740-square-foot facility that was completed in the first quarter of this year, using it as a distribution center for its home appliances and consumer electronics.

Additionally, Stonemont Financial has recently welcomed other tenants to the Lakeland Commerce Center, including Lifting Gear Hire, which leased 36,420 square feet in Building 200, and an undisclosed tenant who signed a lease for 75,740 square feet in Building 100. With the addition of LG Electronics, the park is now 51 percent leased, as reported by Stonemont Financial.

 

Source:  RE Business

Mary Frances West, CCIM, Vice President at NAI Realvest, announced the successful renewals and expansion of three tenants in Brio Business Center, representing the landlord, Juanita Mobile Home Park, LLC dba Brio Business Center.

Brighter Nights, LLC renewed 1,260 square feet at 1141 West Airport Boulevard. Brighter Nights provides permanent low voltage lighting systems directly to contractors and distributors. 

Native Vanilla, Inc. renewed 5,420 square feet at 1255 West Airport Boulevard. They also expanded into an additional 1,600 square feet located at 1267 West Airport Boulevard. Native Vanilla manufactures high quality vanilla products and flavors for retail, industrial and private label industries.

Apex Companies, LLC renewed 1,725 square feet at 1109 West Airport Boulevard.  Apex Companies is a consulting and engineering services firm specializing in water, environmental, H&S, compliance, and infrastructure.

Principal Asset Management is adding a two-building industrial property to its portfolio, as reported by Orlando Business Journal.

The asset, located in Kissimmee, Florida at 5010 and 5030 Industrial Lane, is known as Osceola Logistics Center. One of the buildings spans 133,380 square feet, while the other comes out to 147,420 SF. That makes up a total of 280,800 SF.

The property consists of 48 off-dock trailer positions, 86 high dock doors, food storage, and freezer space.

InLight Real Estate Partners and Black Salmon Capital, under a partnership through Industrial Lane Kissimmee Propco LLC, sold the asset and was represented by Cushman & Wakefield.

According to the CRE firm, the property is 100 percent leased to one tenant that provides food and grocery storage

Source:  GlobeSt.