NEWS & NOTABLES

TAMPA—Marcus & Millichap named Frank Carriera of the firm's Tampa office as a senior managing director investments. Carriera specializes in multifamily property investments and is a senior director of Marcus & Millichap's National Multi Housing Group. He has been with the firm since 2006.

TAMPA—Marcus & Millichap announced Steven Ekovich of the firm's Tampa office has been named as a senior vice president investments. Previously, Ekovich was a first vice president investments. Ekovich specializes in golf and leisure investment properties and is a senior director of Marcus & Millichap's National Hospitality Group. He has been with the firm since 1988.

DEAL TRACKER

ORLANDO—HFF arranged $12.9 million in acquisition financing for Cypress Industrial Park, a five-building light industrial portfolio totaling 256,838 square feet in southern Orlando. HFF worked on behalf of the borrower, Denholtz Associates, to place the 10-year, fixed-rate loan with Principal Global Investors. The buildings are 98.5% leased to a variety of tenants, including Total Logistics Services, Rock 'Em Apparel, Airstar, Hanger Prosthetics, Overhead Door Corporation and HNM Enterprises. The HFF debt placement team representing the borrower was led by senior managing directors Jon Mikula and Michael Weinberg and managing director Michael Klein.

TAMPA, FL—Stan Johnson Company brokered the $15 million sale of the BluePearl Portfolio, a two-property, 37,622 square foot medical portfolio located in Tampa, FL and Houston. Joshua Pardue and his team were responsible for closing the transaction. The seller was Lexington Realty Trust, a self-managed REIT that owns and manages 215 commercial properties across 40 states. Broadstone Real Estate, a full-service real estate company that manages commercial and residential properties across 37 states, acquired the assets.

MIAMI—NAI Miami Commercial Real Estate Services is marketing one of the last known undeveloped large land parcels in Broward County. Stephen Nostrand and Robert Eckstein of NAI Miami will spearhead the sales team. “The 42-plus acre Cocomar Land parcel has several unique features,” says Nostrand, CEO/COO of NAI Miami. “It is a large, contiguous size that can accommodate many uses in the retail, entertainment, sports and education commercial real estate sectors. Furthermore, the location of the property is very advantageous. It has easy access to West Atlantic Boulevard, Lyons Road and the Florida Turnpike. This will draw prominent commercial customers from both Broward and Palm Beach Counties.” The property is currently undeveloped with prior and current approvals for 319,249 total square feet. The daily traffic counts include over 51,000 cars per day on Atlantic Boulevard (2,400 feet of frontage) and 24,000 cars per day on Lyons Road (1,300 feet of frontage). The asking price is $32 million or $761,904 per acre.

BUILDING BLOCKS

AVENTURA, FL—Faith Development and FIP Realty Services celebrated the topping off of Aventura Medical Tower, a medical condominium designed by doctors for doctors. Aventura's first medical office and condo project, located In the heart of the Aventura Hospital Medical Campus at 2801 Northeast 213th Street in Aventura, has 12 floors comprised of seven parking levels with 472 spaces and five floors of office suites housing approximately 105,000 square feet. The project also features just over 5,000 square feet of premium ground floor retail/clinical service space. The tower broke ground in June 2016 and is expected to be completed in November 2017.

Early this week in Florida, we're getting lots of news out of Central Florida. Promotions, acquisition financing, portfolio sales, and construction top offs are among the headlines.

BY THE NUMBERS

Strong demographics boost demand for rentals in Orlando's multifamily market. Another year of vigorous employment growth will drive positive in-migration and fuel household formation

in Orlando. In particular, a flurry of hiring in service sectors will foster steady household formation among the 20- to 34-year-old age cohort, which typically favor apartments. (Source: Marcus & Millichap)

NEWS & NOTABLES

TAMPA—Marcus & Millichap named Frank Carriera of the firm's Tampa office as a senior managing director investments. Carriera specializes in multifamily property investments and is a senior director of Marcus & Millichap's National Multi Housing Group. He has been with the firm since 2006.

TAMPA—Marcus & Millichap announced Steven Ekovich of the firm's Tampa office has been named as a senior vice president investments. Previously, Ekovich was a first vice president investments. Ekovich specializes in golf and leisure investment properties and is a senior director of Marcus & Millichap's National Hospitality Group. He has been with the firm since 1988.

DEAL TRACKER

ORLANDO—HFF arranged $12.9 million in acquisition financing for Cypress Industrial Park, a five-building light industrial portfolio totaling 256,838 square feet in southern Orlando. HFF worked on behalf of the borrower, Denholtz Associates, to place the 10-year, fixed-rate loan with Principal Global Investors. The buildings are 98.5% leased to a variety of tenants, including Total Logistics Services, Rock 'Em Apparel, Airstar, Hanger Prosthetics, Overhead Door Corporation and HNM Enterprises. The HFF debt placement team representing the borrower was led by senior managing directors Jon Mikula and Michael Weinberg and managing director Michael Klein.

TAMPA, FL—Stan Johnson Company brokered the $15 million sale of the BluePearl Portfolio, a two-property, 37,622 square foot medical portfolio located in Tampa, FL and Houston. Joshua Pardue and his team were responsible for closing the transaction. The seller was Lexington Realty Trust, a self-managed REIT that owns and manages 215 commercial properties across 40 states. Broadstone Real Estate, a full-service real estate company that manages commercial and residential properties across 37 states, acquired the assets.

MIAMI—NAI Miami Commercial Real Estate Services is marketing one of the last known undeveloped large land parcels in Broward County. Stephen Nostrand and Robert Eckstein of NAI Miami will spearhead the sales team. “The 42-plus acre Cocomar Land parcel has several unique features,” says Nostrand, CEO/COO of NAI Miami. “It is a large, contiguous size that can accommodate many uses in the retail, entertainment, sports and education commercial real estate sectors. Furthermore, the location of the property is very advantageous. It has easy access to West Atlantic Boulevard, Lyons Road and the Florida Turnpike. This will draw prominent commercial customers from both Broward and Palm Beach Counties.” The property is currently undeveloped with prior and current approvals for 319,249 total square feet. The daily traffic counts include over 51,000 cars per day on Atlantic Boulevard (2,400 feet of frontage) and 24,000 cars per day on Lyons Road (1,300 feet of frontage). The asking price is $32 million or $761,904 per acre.

BUILDING BLOCKS

AVENTURA, FL—Faith Development and FIP Realty Services celebrated the topping off of Aventura Medical Tower, a medical condominium designed by doctors for doctors. Aventura's first medical office and condo project, located In the heart of the Aventura Hospital Medical Campus at 2801 Northeast 213th Street in Aventura, has 12 floors comprised of seven parking levels with 472 spaces and five floors of office suites housing approximately 105,000 square feet. The project also features just over 5,000 square feet of premium ground floor retail/clinical service space. The tower broke ground in June 2016 and is expected to be completed in November 2017.