NEWS & NOTABLES

MIAMI—Pogoda Companies is celebrating its 30^th anniversary. The firm has evolved from a one-man brokerage firm to being one of the top self-storage companies in the nation. Pogoda has over 90 employees running 35 properties across the states of Michigan and Ohio. Pogoda has brokered about 150 properties with a market value well in excess of $500 million, managed and/or owned over 75 facilities with more than 4.5 million rentable square feet, and has built or renovated 22 storage properties. “I have had the good fortune of leading a talented and dedicated group of real estate professionals,” says founder Maurice Pagoda. “Without their diverse backgrounds and skillsets, we would not have had the steady growth that has been our hallmark both in good times and bad.”

JACKSONVILLE, FL—NAI Hallmark, formerly NAI Hallmark Partners, added Keith Goldfaden and Christian Harden as shareholders and principals. Goldfaden and Harden have been with the company since 2007 and 2009, respectively, and will manage all aspects of the brokerage, capital markets and property management business. The expansion of the company's leadership team allows founding principles Alex Coley and Jeff Conn to dedicate more focus on real estate development under the Hallmark Partners brand, which has developed more than $400 million in projects across Northeast Florida over the past 24 years.

DEAL TRACKER

MIAMI—Shopping Center Group acquired a 44,575-square-foot site near Brickell Avenue for $31.75 million. Located at 1399 Southwest First Avenue, the property sits in the heart of Miami's Financial District, next to the Infinity Brickell. The Consulate General of Mexico currently occupies 23,000 square feet of space within an existing, 34,935-square-foot office building on the site. TSG Group obtained the site from Chestnut Capital, under the entity TSG Brickell First. Alfonso Jaramillo of Fortune International Realty oversaw the transaction on behalf of both parties.

LANTANA, FL—ESJ Capital Partners purchased Palm Beach Maritime Academy's elementary school for $7.2 million. The purchase accompanies the nearby Palm Beach Maritime middle school portion ESJ currently owns. The seller was Palm Beach Maritime Museum Inc. The property, located at 1518 West Lantana Road, has 38,588 square-feet of space and includes a McDonald's ground lease and adjacent Dollar General store. Sitting on 4.6 acres, Palm Beach Maritime Academy is located within the Palm Beach County district and is approximately 10 miles from Downtown West Palm Beach.

ORLANDO—Safemark Systems leased a newly completed, 69,545-square-foot class A industrial space in Horizon Commerce Park near Downtown Orlando. Richard T. Davis, Jr., managing director of Industrial Services with Colliers International Central Florida, represented Safemark Systems in the transaction. Mike Borling, senior vice president with JLL, represented the landlord, EastGroup Properties. Situated about eight miles south of Downtown Orlando, the industrial park is located on Sand Lake Road and has easy access to State Road 528, which connects to Interstate 4. It's also convenient to Orlando Executive Airport.

ORLANDO—JLL closed on the $8.35 million sale of 45.17 acres of land at the Air Commerce Business Park, an industrial park in the heart of southern Orlando, located at the intersection of Tradeport Drive and Taft Vineland Road. JLL's Joe Hill and Josh Lipoff represented the buyer, Exeter Property Group. The seller was Brian Mulvaney, managing member at Bogey Boggy Creek 08 LLC. “As the industrial market in Central Florida continues to thrive, there is even more competition amongst national developers and REIT's seeking to acquire well-located assets in the market. Exeter has been one of the more aggressive investors in Orlando this past year, successfully acquiring two warehouse buildings totaling 513,000 square feet,” says Lipoff. “With this latest purchase of 45 acres, we anticipate seeing speculative construction within a year in the form of a single, large cross-dock distribution center in the range of 400,000 to 500,000 square feet, as the new ownership seeks to supply new industrial space to meet the demand from large requirements that Orlando's popular airport submarket is experiencing today.”

SAINT PETERSBURG, FL—Colliers International Tampa Bay handled the sale of a 15,078-square-foot retail center on Fourth Street North for $7.2 million. The buyer is Nicklaus of Florida, Inc., a Saint Petersburg-based private real estate investment group that owned the well-known Sirata Beach Resort on Saint Pete Beach until earlier this year. Mike Milano, Amy Barrett, and Sean Glickman with Colliers International Tampa Bay, represented the seller, Mainstream Partners VI, LLC. Melissa J. Rutland with Rutland Florida Gulf Group represented the buyer. The retail center, built in 2008, is 100% occupied by necessity-based retail tenants that are not threatened by the growth of online shopping. Tenants include two successful restaurant chains, Metro Diner and Uncle Maddio's Pizza, as well as FedEx, South Beach Tanning, T-Mobile, and Hand & Stone Spa.

RIVERVIEW, FL—Colliers International Tampa Bay has handled the sale of Rivercrest Commons, a 74,300-square-foot shopping center in the Riverview submarket of Tampa. The buyer is Nicklaus of Florida, a private real estate investment group. The newly constructed shopping center is anchored by a 47,000-square-foot Publix Super Market' plus 16,100 square feet of adjoining shop space. In addition to the main shopping center, the sale also included two outparcels improved with buildings at contain 5,200 square feet and 6,000 square feet, respectively. Colliers represented the two sellers in the transaction: a joint venture with Dumpy Properties, a Tampa-based retail development company, and Batson-Cook Development, an Atlanta-based development and capital solutions company.

MIAMI—Institutional Property Advisors brokered the sale of 5835 Waterford at Blue Lagoon, a four-story, 57,565-square-foot office building located in Miami's Waterford at Blue Lagoon corporate office park, according to Douglas K. Mandel, a senior managing director investments in the firm's Fort Lauderdale office. “The competition for the asset was very strong, as it presented a rare value-add opportunity in a sub-market with very little vacancy,” Mandel says. “In fact, the market is so tight that it is one of the few markets in South Florida where speculative office construction is underway with the Hogan Group's recent groundbreaking of Waterford Way, a 10-story building.” Mandel and Benjamin H. Silver, first vice president investments, both in Marcus & Millichap's Fort Lauderdale office, marketed the property on behalf of TA Realty, and procured the buyer, a private client of Wells Fargo Bank.

BUILDING BLOCKS

ORLANDO—Tailstock Development Company announced plans for a speculative 155,000-square-foot, six-story, class-A, multi-tenant office building in the growing Lake Nona Town Center, as part of more than 1 million square feet of planned speculative and shovel-ready office projects in its Orlando development pipeline. The office projects are planned for Tailstock's large-scale Lake Nona community in southeast Orlando and the company's 200-acre Infinity Park corporate park on John Young Parkway. “We believe there is an opportunity to fill the void of office space in the Orlando market within two dynamic locations,” says Tailstock Development senior vice president Skipper Peek. “Both Lake Nona and Infinity Park share great regional access, excellent proximity to one of world's best airports, a robust labor market, a great climate and a business-friendly state. In addition, Tailstock brings a rare combination of financial resources, experience and creativity, which have been instrumental in helping us win deals and bring several significant corporate projects to the Orlando market.”

MIAMI—This week in Florida saw a Miami commercial real estate firm milestone, more musical chairs, and a significant office project getting underway in Orlando.

BY THE NUMBERS

Tampa-Saint Petersburg-Clearwater Metro has seen a 2.1% increase in population and a healthy 3.3% job growth rate since last year. But without enough multifamily supply, rents in cities like Saint Petersburg and Tampa continue to rise (5.5% and 5.0% year-over-year, respectively). (Source: Rentcafe)

The situation is no different in Orlando, where the average multifamily rent clocks in at $1,269, up 3.7% year-over-year. (Source: Rentcafe)

NEWS & NOTABLES

MIAMI—Pogoda Companies is celebrating its 30^th anniversary. The firm has evolved from a one-man brokerage firm to being one of the top self-storage companies in the nation. Pogoda has over 90 employees running 35 properties across the states of Michigan and Ohio. Pogoda has brokered about 150 properties with a market value well in excess of $500 million, managed and/or owned over 75 facilities with more than 4.5 million rentable square feet, and has built or renovated 22 storage properties. “I have had the good fortune of leading a talented and dedicated group of real estate professionals,” says founder Maurice Pagoda. “Without their diverse backgrounds and skillsets, we would not have had the steady growth that has been our hallmark both in good times and bad.”

JACKSONVILLE, FL—NAI Hallmark, formerly NAI Hallmark Partners, added Keith Goldfaden and Christian Harden as shareholders and principals. Goldfaden and Harden have been with the company since 2007 and 2009, respectively, and will manage all aspects of the brokerage, capital markets and property management business. The expansion of the company's leadership team allows founding principles Alex Coley and Jeff Conn to dedicate more focus on real estate development under the Hallmark Partners brand, which has developed more than $400 million in projects across Northeast Florida over the past 24 years.

DEAL TRACKER

MIAMI—Shopping Center Group acquired a 44,575-square-foot site near Brickell Avenue for $31.75 million. Located at 1399 Southwest First Avenue, the property sits in the heart of Miami's Financial District, next to the Infinity Brickell. The Consulate General of Mexico currently occupies 23,000 square feet of space within an existing, 34,935-square-foot office building on the site. TSG Group obtained the site from Chestnut Capital, under the entity TSG Brickell First. Alfonso Jaramillo of Fortune International Realty oversaw the transaction on behalf of both parties.

LANTANA, FL—ESJ Capital Partners purchased Palm Beach Maritime Academy's elementary school for $7.2 million. The purchase accompanies the nearby Palm Beach Maritime middle school portion ESJ currently owns. The seller was Palm Beach Maritime Museum Inc. The property, located at 1518 West Lantana Road, has 38,588 square-feet of space and includes a McDonald's ground lease and adjacent Dollar General store. Sitting on 4.6 acres, Palm Beach Maritime Academy is located within the Palm Beach County district and is approximately 10 miles from Downtown West Palm Beach.

ORLANDO—Safemark Systems leased a newly completed, 69,545-square-foot class A industrial space in Horizon Commerce Park near Downtown Orlando. Richard T. Davis, Jr., managing director of Industrial Services with Colliers International Central Florida, represented Safemark Systems in the transaction. Mike Borling, senior vice president with JLL, represented the landlord, EastGroup Properties. Situated about eight miles south of Downtown Orlando, the industrial park is located on Sand Lake Road and has easy access to State Road 528, which connects to Interstate 4. It's also convenient to Orlando Executive Airport.

ORLANDO—JLL closed on the $8.35 million sale of 45.17 acres of land at the Air Commerce Business Park, an industrial park in the heart of southern Orlando, located at the intersection of Tradeport Drive and Taft Vineland Road. JLL's Joe Hill and Josh Lipoff represented the buyer, Exeter Property Group. The seller was Brian Mulvaney, managing member at Bogey Boggy Creek 08 LLC. “As the industrial market in Central Florida continues to thrive, there is even more competition amongst national developers and REIT's seeking to acquire well-located assets in the market. Exeter has been one of the more aggressive investors in Orlando this past year, successfully acquiring two warehouse buildings totaling 513,000 square feet,” says Lipoff. “With this latest purchase of 45 acres, we anticipate seeing speculative construction within a year in the form of a single, large cross-dock distribution center in the range of 400,000 to 500,000 square feet, as the new ownership seeks to supply new industrial space to meet the demand from large requirements that Orlando's popular airport submarket is experiencing today.”

SAINT PETERSBURG, FL—Colliers International Tampa Bay handled the sale of a 15,078-square-foot retail center on Fourth Street North for $7.2 million. The buyer is Nicklaus of Florida, Inc., a Saint Petersburg-based private real estate investment group that owned the well-known Sirata Beach Resort on Saint Pete Beach until earlier this year. Mike Milano, Amy Barrett, and Sean Glickman with Colliers International Tampa Bay, represented the seller, Mainstream Partners VI, LLC. Melissa J. Rutland with Rutland Florida Gulf Group represented the buyer. The retail center, built in 2008, is 100% occupied by necessity-based retail tenants that are not threatened by the growth of online shopping. Tenants include two successful restaurant chains, Metro Diner and Uncle Maddio's Pizza, as well as FedEx, South Beach Tanning, T-Mobile, and Hand & Stone Spa.

RIVERVIEW, FL—Colliers International Tampa Bay has handled the sale of Rivercrest Commons, a 74,300-square-foot shopping center in the Riverview submarket of Tampa. The buyer is Nicklaus of Florida, a private real estate investment group. The newly constructed shopping center is anchored by a 47,000-square-foot Publix Super Market' plus 16,100 square feet of adjoining shop space. In addition to the main shopping center, the sale also included two outparcels improved with buildings at contain 5,200 square feet and 6,000 square feet, respectively. Colliers represented the two sellers in the transaction: a joint venture with Dumpy Properties, a Tampa-based retail development company, and Batson-Cook Development, an Atlanta-based development and capital solutions company.

MIAMI—Institutional Property Advisors brokered the sale of 5835 Waterford at Blue Lagoon, a four-story, 57,565-square-foot office building located in Miami's Waterford at Blue Lagoon corporate office park, according to Douglas K. Mandel, a senior managing director investments in the firm's Fort Lauderdale office. “The competition for the asset was very strong, as it presented a rare value-add opportunity in a sub-market with very little vacancy,” Mandel says. “In fact, the market is so tight that it is one of the few markets in South Florida where speculative office construction is underway with the Hogan Group's recent groundbreaking of Waterford Way, a 10-story building.” Mandel and Benjamin H. Silver, first vice president investments, both in Marcus & Millichap's Fort Lauderdale office, marketed the property on behalf of TA Realty, and procured the buyer, a private client of Wells Fargo Bank.

BUILDING BLOCKS

ORLANDO—Tailstock Development Company announced plans for a speculative 155,000-square-foot, six-story, class-A, multi-tenant office building in the growing Lake Nona Town Center, as part of more than 1 million square feet of planned speculative and shovel-ready office projects in its Orlando development pipeline. The office projects are planned for Tailstock's large-scale Lake Nona community in southeast Orlando and the company's 200-acre Infinity Park corporate park on John Young Parkway. “We believe there is an opportunity to fill the void of office space in the Orlando market within two dynamic locations,” says Tailstock Development senior vice president Skipper Peek. “Both Lake Nona and Infinity Park share great regional access, excellent proximity to one of world's best airports, a robust labor market, a great climate and a business-friendly state. In addition, Tailstock brings a rare combination of financial resources, experience and creativity, which have been instrumental in helping us win deals and bring several significant corporate projects to the Orlando market.”