MIAMI—Javier Fernández, who served as chief of staff to former City of Miami Mayor Manuel A. Diaz, has joined Holland & Knight as a partner in the firm's South Florida Government Advocacy & Development Group. Prior to joining Holland & Knight, he was a shareholder with Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. Fernández represents clients in all aspects of the land use and zoning entitlement process, including in the preparation and approval of planning and zoning applications, platting and other permits required by a variety of federal, state and local agencies. Chambers USA has recognized him as notable Up & Coming attorney in the area of zoning and land use.

DEAL TRACKER

TAMPA, FL—Marcus & Millichap brokered the sale of Hyde Park Courtyard, a four-unit multifamily building located in Tampa. The asset sold for $700,000. Shawn Rupp, associate, and Casey Babb, first vice president investments, both in the firm's Tampa office, represented the seller and procured the buyer. “The market for high quality apartment assets is as hot as it's ever been as buyers try to get invested before interest rates rise too much over the next 12 months,” says Rupp. “In addition, very strong renter demand continues to push rental rates higher and higher as well especially for walkable communities like this one.”

PENSACOLA, FL—CNL Healthcare Properties II, a non-traded REIT focused on seniors housing and healthcare properties, signed an agreement with Summer Vista Assisted Living and Hardcourt Development No. 2 to purchase the newly-constructed Summer Vista Assisted Living Community in Pensacola. This would be the first investment for CNL Healthcare Properties II. SRI Management, which has managed Summer Vista Assisted Living Community since its opening, is anticipated to continue managing the community for CNL Healthcare Properties II pursuant to a five-year management agreement.

ORLANDO—Foundry Commercial completed a 15-year, 47,000-square-foot lease on behalf of law firm Shutts & Bowen at Downtown Orlando's Lincoln Plaza building. Recent Foundry recruit and industry veteran Jeff Patterson secured the deal on behalf of the client. Catherine Reeves with Highwoods Properties represented the landlord in the deal. The law firm's decision to relocate its office from the ninth and 10th floors of the Lincoln Plaza building to the entire 9th floor and top (16th) floor stemmed from a desire to create a more efficient, collaborative and attractive workspace to enhance employee productivity, recruitment and retention.

DEERFIELD BEACH, FL—Cushman & Wakefield has been named exclusive leasing and sale agent for 2200 Southwest 10th Street, a 50,000-square-foot plug-and-play call center in Broward County's Colonnade Business Center. Managing director John K. Criddle and senior associate Joseph J. Freitas were selected to lease and sell the building by Boca Raton-based investor 2200 Deerfield Florida, LLC. The asset is listed for sale at $8.25 million. The entire building is available for lease at triple-net rates ranging from $13.75 to $15.75 per square foot. The building is situated on the south side of Southeast 10th Street, providing exposure on one of Broward County's major east-west thoroughfares. The site is located minutes from the Sawgrass Expressway, Interstate 95 and Florida's Turnpike and less than two miles from the Deerfield Beach and Pompano Beach Tri-Rail stations.

BUILDING BLOCKS

FORT LAUDERDALE, FL—Riva reached a major construction milestone. It has topped off construction. Riva is located across from George English Park on a two-acre waterfront site at 1180 North Federal Highway. The 15-story luxury condo is comprised of 100 residences with panoramic views of the Atlantic Ocean and the Downtown Fort Lauderdale skyline. Riva broke ground in June 2015 and is slated for completion this summer. Jiro Yates, vice president and design partner at Fort Lauderdale-based FSMY Architects and Planners designed Riva.

Early this week in Florida we're seeing some REIT action and a significant for one condo developer. Law firms are also making headlines this week on the commercial real estate front in South Florida.

BY THE NUMBERS

The Miami-Dade office market experienced robust growth in 2016. The Brickell submarket was the strongest performer of this past year, accounting for two of the three largest lease deals and nearly 30% of the market's total net absorption. (Source: Avison Young)

NEWS & NOTABLES

MIAMI—Javier Fernández, who served as chief of staff to former City of Miami Mayor Manuel A. Diaz, has joined Holland & Knight as a partner in the firm's South Florida Government Advocacy & Development Group. Prior to joining Holland & Knight, he was a shareholder with Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. Fernández represents clients in all aspects of the land use and zoning entitlement process, including in the preparation and approval of planning and zoning applications, platting and other permits required by a variety of federal, state and local agencies. Chambers USA has recognized him as notable Up & Coming attorney in the area of zoning and land use.

DEAL TRACKER

TAMPA, FL—Marcus & Millichap brokered the sale of Hyde Park Courtyard, a four-unit multifamily building located in Tampa. The asset sold for $700,000. Shawn Rupp, associate, and Casey Babb, first vice president investments, both in the firm's Tampa office, represented the seller and procured the buyer. “The market for high quality apartment assets is as hot as it's ever been as buyers try to get invested before interest rates rise too much over the next 12 months,” says Rupp. “In addition, very strong renter demand continues to push rental rates higher and higher as well especially for walkable communities like this one.”

PENSACOLA, FL—CNL Healthcare Properties II, a non-traded REIT focused on seniors housing and healthcare properties, signed an agreement with Summer Vista Assisted Living and Hardcourt Development No. 2 to purchase the newly-constructed Summer Vista Assisted Living Community in Pensacola. This would be the first investment for CNL Healthcare Properties II. SRI Management, which has managed Summer Vista Assisted Living Community since its opening, is anticipated to continue managing the community for CNL Healthcare Properties II pursuant to a five-year management agreement.

ORLANDO—Foundry Commercial completed a 15-year, 47,000-square-foot lease on behalf of law firm Shutts & Bowen at Downtown Orlando's Lincoln Plaza building. Recent Foundry recruit and industry veteran Jeff Patterson secured the deal on behalf of the client. Catherine Reeves with Highwoods Properties represented the landlord in the deal. The law firm's decision to relocate its office from the ninth and 10th floors of the Lincoln Plaza building to the entire 9th floor and top (16th) floor stemmed from a desire to create a more efficient, collaborative and attractive workspace to enhance employee productivity, recruitment and retention.

DEERFIELD BEACH, FL—Cushman & Wakefield has been named exclusive leasing and sale agent for 2200 Southwest 10th Street, a 50,000-square-foot plug-and-play call center in Broward County's Colonnade Business Center. Managing director John K. Criddle and senior associate Joseph J. Freitas were selected to lease and sell the building by Boca Raton-based investor 2200 Deerfield Florida, LLC. The asset is listed for sale at $8.25 million. The entire building is available for lease at triple-net rates ranging from $13.75 to $15.75 per square foot. The building is situated on the south side of Southeast 10th Street, providing exposure on one of Broward County's major east-west thoroughfares. The site is located minutes from the Sawgrass Expressway, Interstate 95 and Florida's Turnpike and less than two miles from the Deerfield Beach and Pompano Beach Tri-Rail stations.

BUILDING BLOCKS

FORT LAUDERDALE, FL—Riva reached a major construction milestone. It has topped off construction. Riva is located across from George English Park on a two-acre waterfront site at 1180 North Federal Highway. The 15-story luxury condo is comprised of 100 residences with panoramic views of the Atlantic Ocean and the Downtown Fort Lauderdale skyline. Riva broke ground in June 2015 and is slated for completion this summer. Jiro Yates, vice president and design partner at Fort Lauderdale-based FSMY Architects and Planners designed Riva.