JACKSONVILLE, FL—William “Tripp” Gulliford has been promoted to senior managing director, North Florida. In his new role, he will oversee operations in all of CBRE's North Florida offices, including Jacksonville, Orlando and Tampa. Since joining CBRE in 2013 as managing director, Tripp has been responsible for overseeing the Jacksonville and Northwest Florida markets. Bill Moss and Chase Pattillo will continue to lead the local Orlando and Tampa markets. Prior to joining CBRE, he served as managing director of EverBank Commercial Advisors. Earlier in his career, he was a principal with Midland Development Group and an executive at Regency Centers. A lawyer by training, Gulliford practiced general business and commercial real estate law in Jacksonville with Rogers Towers and Ulmer, Murchison, Ashby & Taylor. Gulliford is a member of The Florida Bar, the International Council of Shopping Centers and the Urban Land Institute. He currently serves as the Chairman of the Jacksonville Housing Finance Authority.

DEAL TRACKER

MELBOURNE, FL–Brenner Real Estate Group announced 10 lease renewals within Imperial Plaza. Carla Casey, regional manager of property management at the firm, and Colette Wood, a commercial associate, handled the following transactions on behalf of the landlord, Sterwick Development Corp: KMS Solutions, a defense contractor, has renewed and expanded its lease totaling 1,750 square feet of office space; Brevard Title renewed its lease of 146 square feet of executive suite office space; Florida Smacna renewed its lease of 252 square feet of executive suite office space; Estov USA renewed its lease of 517 square feet of executive suite office space; Money Management Concepts renewed its lease of 210 square feet of suite office space, among others.

MIAMI—Cedano Realty Advisors' Alex Acker and CCIM Miami District immediate past president Frank Rodriguez Melo negotiated four lease deals at Filling Station Lofts and Canvas Patio, located within the Miami's Arts + Entertainment District. New tenants include ACME lounge, a restaurant called Amelia, Energy Lab and Namira Food Market and Deli.

BOCA RATON, FL—Cushman & Wakefield's South Florida commercial team closed five office and industrial sales in the month of December valued at $64.75 million and comprising 354,639 square feet. Executive director Scott O'Donnell, managing director Dominic Montazemi, director Miguel Alcivar, senior associate Greg Miller and senior director Jason Hochman, a debt financing partner, closed more than $524 million in sales and financing in 2016. “Improving leasing fundamentals, relatively low interest rates and continued demand from both domestic and off-shore equity investors has driven pricing to peak levels,” says O'Donnell. “Despite the deal execution challenges presented by this pricing, our team was able to post one of our most active years in terms of transaction volume.”

ORLANDO—Cushman & Wakefield negotiated the sale of Semoran Business Center, a 39,742-square-foot mixed-use development in suburban Orlando. The team of managing director Damien Madsen and senior associate Tommy Pinel represented Orlando-based Quest in the disposition. Winter Park, FL-based investor RAM SBC, LLC acquired the asset for $1.9 million, or $47.81 per square foot. Semoran Business Center comprises 17,866 square feet of retail space, 11,856 square feet of office space and 10,000 square feet of warehouse space. The property's warehouse space was fully leased while the retail component was 77% occupied and the office space was 60% leased. Notable tenants include Our Pet World, Healthcare Billing Solutions and Irish Hospitality Associates, Inc. An on-site cellular tower and billboard provide additional income for the property.

BOCA RATON, FL—Meridian Capital Group recently closed four transactions: a new mortgage of $11.1 million was placed on the 156-unit Essex House Apartments, located in West Palm Beach, FL; the firm negotiated $10.6 million in financing for the 184-unit Shoreview at Baldwin Park multifamily property in Orlando, FL; a new mortgage of $7.5 million was placed on the Lake City Professional Plaza, a 96,350 square foot office center in Lake City, FL; and the firm arranged $7.2 million in financing for the purchase of a 266-pad manufactured housing community in Sarasota, FL. The three-year bridge loan features a fixed rate of 6.50% and was negotiated by senior vice president, Jim Bologno.

BUILDING BLOCKS

FORT LAUDERDALE, FL– Cypress Creek Medical Pavilion developed brand new, two-story 82,000 square foot multi-tenant medical office building, Cypress Creek Medical Pavilion. As the developer partnered with ANF Group of Davie, Florida, a South Florida-based construction management firm with a specialty in healthcare construction, to oversee construction. ANF Group affiliates are principals of the development team. Brenner Real Estate Group will provide marketing and brokerage services for the property. Brenner's Peter Messina, vice president of Commercial Brokerage, is responsible for leasing the property. Located in the heart of Cypress Creek at 2122 West Cypress Creek Road, Fort Lauderdale, the Class-A Cypress Creek Medical Pavilion will be anchored by a 19,000-square-foot Ambulatory Surgery Center on the ground floor.

Industrial is up. Promotions continue and leasing is on a hot streak in Florida early this week. New construction is also getting underway on the healthcare real estate front.

BY THE NUMBERS

Miami's industrial vacancy rate dropped to 3%, down 70 basis points (bps) quarter-over-quarter and down 40 bps from the fourth quarter 2015 rate. The Industrial market currently has 2.88 million square feet under construction and 3.65 million square feet in the pipeline. Miami-Dade's unemployment rate was 5% in December 2016, reflecting a 60 bps decrease year-over-year. Job growth for the market showed a 1.6% increase year-over-year, representing 18,000 jobs added.

NEWS & NOTABLES

JACKSONVILLE, FL—William “Tripp” Gulliford has been promoted to senior managing director, North Florida. In his new role, he will oversee operations in all of CBRE's North Florida offices, including Jacksonville, Orlando and Tampa. Since joining CBRE in 2013 as managing director, Tripp has been responsible for overseeing the Jacksonville and Northwest Florida markets. Bill Moss and Chase Pattillo will continue to lead the local Orlando and Tampa markets. Prior to joining CBRE, he served as managing director of EverBank Commercial Advisors. Earlier in his career, he was a principal with Midland Development Group and an executive at Regency Centers. A lawyer by training, Gulliford practiced general business and commercial real estate law in Jacksonville with Rogers Towers and Ulmer, Murchison, Ashby & Taylor. Gulliford is a member of The Florida Bar, the International Council of Shopping Centers and the Urban Land Institute. He currently serves as the Chairman of the Jacksonville Housing Finance Authority.

DEAL TRACKER

MELBOURNE, FL–Brenner Real Estate Group announced 10 lease renewals within Imperial Plaza. Carla Casey, regional manager of property management at the firm, and Colette Wood, a commercial associate, handled the following transactions on behalf of the landlord, Sterwick Development Corp: KMS Solutions, a defense contractor, has renewed and expanded its lease totaling 1,750 square feet of office space; Brevard Title renewed its lease of 146 square feet of executive suite office space; Florida Smacna renewed its lease of 252 square feet of executive suite office space; Estov USA renewed its lease of 517 square feet of executive suite office space; Money Management Concepts renewed its lease of 210 square feet of suite office space, among others.

MIAMI—Cedano Realty Advisors' Alex Acker and CCIM Miami District immediate past president Frank Rodriguez Melo negotiated four lease deals at Filling Station Lofts and Canvas Patio, located within the Miami's Arts + Entertainment District. New tenants include ACME lounge, a restaurant called Amelia, Energy Lab and Namira Food Market and Deli.

BOCA RATON, FL—Cushman & Wakefield's South Florida commercial team closed five office and industrial sales in the month of December valued at $64.75 million and comprising 354,639 square feet. Executive director Scott O'Donnell, managing director Dominic Montazemi, director Miguel Alcivar, senior associate Greg Miller and senior director Jason Hochman, a debt financing partner, closed more than $524 million in sales and financing in 2016. “Improving leasing fundamentals, relatively low interest rates and continued demand from both domestic and off-shore equity investors has driven pricing to peak levels,” says O'Donnell. “Despite the deal execution challenges presented by this pricing, our team was able to post one of our most active years in terms of transaction volume.”

ORLANDO—Cushman & Wakefield negotiated the sale of Semoran Business Center, a 39,742-square-foot mixed-use development in suburban Orlando. The team of managing director Damien Madsen and senior associate Tommy Pinel represented Orlando-based Quest in the disposition. Winter Park, FL-based investor RAM SBC, LLC acquired the asset for $1.9 million, or $47.81 per square foot. Semoran Business Center comprises 17,866 square feet of retail space, 11,856 square feet of office space and 10,000 square feet of warehouse space. The property's warehouse space was fully leased while the retail component was 77% occupied and the office space was 60% leased. Notable tenants include Our Pet World, Healthcare Billing Solutions and Irish Hospitality Associates, Inc. An on-site cellular tower and billboard provide additional income for the property.

BOCA RATON, FL—Meridian Capital Group recently closed four transactions: a new mortgage of $11.1 million was placed on the 156-unit Essex House Apartments, located in West Palm Beach, FL; the firm negotiated $10.6 million in financing for the 184-unit Shoreview at Baldwin Park multifamily property in Orlando, FL; a new mortgage of $7.5 million was placed on the Lake City Professional Plaza, a 96,350 square foot office center in Lake City, FL; and the firm arranged $7.2 million in financing for the purchase of a 266-pad manufactured housing community in Sarasota, FL. The three-year bridge loan features a fixed rate of 6.50% and was negotiated by senior vice president, Jim Bologno.

BUILDING BLOCKS

FORT LAUDERDALE, FL– Cypress Creek Medical Pavilion developed brand new, two-story 82,000 square foot multi-tenant medical office building, Cypress Creek Medical Pavilion. As the developer partnered with ANF Group of Davie, Florida, a South Florida-based construction management firm with a specialty in healthcare construction, to oversee construction. ANF Group affiliates are principals of the development team. Brenner Real Estate Group will provide marketing and brokerage services for the property. Brenner's Peter Messina, vice president of Commercial Brokerage, is responsible for leasing the property. Located in the heart of Cypress Creek at 2122 West Cypress Creek Road, Fort Lauderdale, the Class-A Cypress Creek Medical Pavilion will be anchored by a 19,000-square-foot Ambulatory Surgery Center on the ground floor.