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Now under construction, Nona Medical Center will be situated at 10735 Moss Park Rd, less than 1 mile east of AdventHealth’s 67.28-acre new mixed-use campus. in Orlando’s highly desirable Lake Nona neighborhood that sits within close proximity to Lake Nona Medical City, a premier location for medical care, research and education.
The JLL brokerage team of Lucia Hedke, Managing Director and Florida Healthcare Lead and Micah Strader, Managing Director will spearhead leasing efforts on behalf of the building’s ownership group, Onicx Group. Known as the chosen partner of healthcare systems and physician groups throughout the state of Florida, Onicx Group is an established multi-asset real estate developer with focus in healthcare, multi-family, industrial, and mixed-use commercial real estate.
“Florida continues to see demand for healthcare related services as the state benefits from steady, organic population growth, domestic migration, and a strong labor pool including nursing professionals that will continue to attract and expand new medical users,” said JLL’s Florida Healthcare Lead Lucia Hedke. “Thanks to its strategic location and additional amenity base close by with East Park Village, Nona Medical Center will be the ideal choice for local healthcare groups looking to expand their footprint in the region or new to market companies making their entrance into Florida.”
Nona Medical Center will bring 45,000 square feet of medical office space across three floors to East Park Village, a 23-acre mixed-use project, with 18 developable acres located in the fourth fastest growing community in Florida. The project will consist of a 264-unit multi-family development, a 12,540-square-feet retail center, and a 150-key Wyndham hotel. Tenants at Nona Medical Center will enjoy 14’8’’ ceiling heights, two electric gearless traction elevators, and 215 dedicated parking spaces. Ample tenant improvement allowances and signage opportunities are also available.
“Lake Nona has quickly become the state’s leading health innovation hub,” said JLL’s Micah Strader. “The delivery of Nona Medical Center will be a testament to the area’s commitment to creating a centralized focus of sophisticated medical treatment and that will foster related research and education.”
Nona Medical Center is strategically located at the exit ramp of the 417 and Moss Park Road, ensuring high visibility and exposure, and only three miles from Lake Nona Medical City, a landmark 650-acre health and life sciences park known as the signature location for medical care, research, and education. The medical center is anchored by University of Central Florida (UCF) Health Sciences Campus, Sanford Burnham Prebys Medical, Discovery Institute, VA Medical Center, Nemours Children’s Hospital, University of Florida Academic & Research Center, MD Anderson Orlando Cancer Research Institute, Johnson & Johnson, UCF’s Lake Nona Hospital, and the soon to break ground UCF College of Nursing.
According to a recent report by JLL, the Orlando medical office market is highly regarded, with 217 buildings and over 10.4 million square feet of space where Class A buildings account for more than 30 percent of the inventory. The city is well-positioned to attract tenants in the market relative to other markets due to its amenity base and centric location across Central Florida.
Tom R. Kelley, CCIM, Principal at NAI Realvest, reported the successful leasing of three industrial units at the South Park Business Center located at 8600 Commodity Circle in Orlando.
In Unit 160, You Restorations, LLC has leased 2,499 square feet of industrial space. You Restorations is a provider of roof replacement, home restoration, and home water/solar energy system solutions, offering comprehensive services to meet a variety of property needs.
Arc One Protective Services LLC. Leased Unit 164 with 1,825 square feet. Arc One Protective Services is a professional private security and consulting agency, specializing in a wide range of security and consulting services.
Completing the trio of leases, Unit 129 with 1,830 square feet, is occupied by Coastline Cooling, LLC. Coastline Cooling is a leading provider of factory authorized service for refrigeration, foodservice equipment, and HVAC equipment.
The Northwest Distribution Center, a 668,800-square-foot industrial property at 1349-1501 Ocoee Apopka Road, sold for $90.55 million.
Clarion Partners is the buyer. Oakmont Industrial Group and PGIM Real Estate were the seller.
Oakmont Industrial Group invested $50 million in Phase I of the Apopka property in 2008 with two buildings. They built two additional buildings in 2017. The center’s four buildings range from 124,000-207,000 square feet on 45 acres at the northwest corner of State Roads 429, 414 and 451.
Industrial development activity continues to grow in the Northwest Orange County submarket. The City of Apopka is looking at 2.6 million more square feet of warehouse space in areas around the municipal airport.
Source: Connect CRE
EML Realty Partners, based in Jupiter, Florida, announced the acquisition of two new industrial properties in Melbourne and Daytona Beach.
The first property, located at 7003 Technology Dr. in Melbourne (top photo), totals 17,568 square feet on two acres.
The second property, located at 840 Jimmy Ann Drive in Daytona Beach (bottom photo), totals 18,800 square feet on approximately 3 acres.
Ferguson Plumbing Supply has been the tenant in both of these buildings since 2006. The purchase price of these buildings, around $50 per square foot, was less than the land value alone.
The purchase of these two buildings marks EML Realty Partners’ 10th acquisition this year with over $35 million in purchases, with the plan to close on a few more properties before year’s end. The higher interest rate environment has created many off-market opportunities that EML has taken advantage of.
EML Realty Partners specializes in the acquisition of opportunistic commercial real estate investments, specializing in value-add industrial all over the state of Florida. Prior to moving to Florida, EML Realty Partners was a very active and well-respected real estate firm in the Mid-Atlantic region.
Coral Gables-based Shoma Group has taken over the development plans for a new 16-story apartment tower in Orlando’s Central Business District and rebranded it as 550 Shoma.
The building will rise on a 1.1-acre lot at 550 Mariposa St. that was entitled for a second phase of a condo project called Eola Place. It was previously under contract to New York-based Lexin Capital, which filed the new master plan in 2022 and worked with architecture firm Baker Barrios on the design of the building. The development plan calls for 223 residential units, a parking garage that can accommodate 425 vehicles and 17,160 square feet of commercial space on the ground floor.
Led by CEO and Chairman Masoud Shojaee, Shoma Group has a 30-year track record in South Florida that involves more than $5 billion in real estate transactions. This is the company’s first project in Orlando.
Shoma Group President Stephanie Shojaee said 550 Shoma will feature various options to cater to different lifestyles and preferences, and the company will introduce its Shoma Bazaar branded food hall to anchor the ground level retail. She said the Bazaar will be two stories with a the second floor being a bar overlooking an open terrace.
Construction will commence in the second quarter of 2024 with expected completion by 2026.
Source: GrowthSpotter
The next meeting will be:
Friday, October 13th, 2023
Doors open at 8:30AM Meeting starts at 9:00AM at the
Orlando Regional Realtors (ORRA) Building 1330 Lee Road Orlando, FL 32810
(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! Breakfast Provided by CFCAR
Berkadia has secured a $53.7 million loan for the acquisition of Lakeside Village, a 460,000-square-foot, regionally dominant, open-air lifestyle center in Lakeland.
Managing Director Scott Wadler, Senior Director Matt Nihan and Associate Director Alec Fox of Berkadia South Florida secured the financing on behalf of the buyer, Continental Realty Corporation, a full-service real estate company based in Baltimore, Maryland.
Jennifer Power, Vice President of Capital Markets at Continental Realty Corporation, oversaw and negotiated the transaction. City National Bank of Florida (CNB) originated the five-year loan.
“We are pleased to have worked in conjunction with the Berkadia team to execute in a challenging financing environment,” said CRC’s Power. “Berkadia shares in our philosophy of fostering relationships and creating strong partnerships. City National Bank of Florida’s expertise in the real estate sector, understanding of the area’s high-growth demographics, and property’s stable tenancy, led to a solid execution for all.”
“City National Bank was attracted to Lakeside Village’s substantial barriers to entry and the sponsor’s successful track record repositioning similar assets,” continued Wadler. “Lakeside Village enjoys an excellent location adjacent to I-4, with the nearest comparable lifestyle center located more than 35 miles away. Further, it is complemented by several market-leading hotels and newly-built apartments situated just steps from the property.”
“With this acquisition, Continental Realty Corporation is poised to enhance the quality and tenant mix of Lakeside Village, reflecting the consistent improvements they have achieved across their extensive retail portfolio,” said Fox.
Located at 1479 Town Center Drive, Lakeside Village is situated along Central Florida’s I-4 corridor between Orlando and Tampa in Polk County, known as the second-fastest growing metro in the United States and Florida’s distribution hub, the epicenter of e-commerce distribution in the state. The property was built in 2005 and is leased to over 70 tenants covering a variety of categories, including food and beverage, entertainment, medical/healthcare, fitness, apparel, and services. It also includes 46,000 square feet of Class A office space, and is anchored by CMX Cinemas, Kohl’s, Belk, and Books-A-Million.
Lakeside Village is minutes away from the Publix Corporate Headquarters, the Town Center Lakeside Village Apartments, the Grassland Golf & Country Club and multiple new residential communities planned or under construction.
Orange County records show that WMG Development paid $4.1 million on Sept. 8 for the site, located at the northwest corner of Avalon Road and Marsh Road/Stoneybrook West Parkway. A development with a freestanding Heartland Dental and a small 10,000-square-foot retail building with a drive-thru end-cap opportunity is planned for the land.
WMG Development's other recent activity includes:
Source: OBJ
The Good Pour, started by Horal and his wife, Giuliana, is gearing up to make a big move after taking over the lease of the former CVS store in the heart of College Park at 2201 Edgewater Drive.
The company expects to donate an average of 6.5% to 8% of every purchase to nonprofits. Horal said some products would see more than 10% of the sale going to the charity of the customer’s choice.
Before the store can open though, the city of Orlando has to grant a conditional use permit to allow alcohol sales within 100 feet of a church.
The company opened its first franchise location in Winter Garden in January. Its Gainesville store is expected to welcome its first customers in the coming month while the owners are seeking final approval from the city of Longwood to move into a True Value hardware store there. Plans are underway to open locations in Oviedo, Maitland, Apopka, Lake Nona, and Lakeland.
While the other planned locations are part of franchising agreements, the recently vacated CVS leased by The Good Pour would serve as the site of its first corporate store — a model for other stores to follow.
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