MIAMI—Early this week in Florida saw some musical chairs, more industrial leasing action and some interesting retail numbers. And a new hotel just opened its doors in North Florida.
BY THE NUMBERS
Categories with stronger retail sales growth still account for relatively little occupancy of U.S. malls. That includes restaurants at only 4.6% of gross leasable area, sporting goods at 3.1%, home furnishings at 1.6% and health and personal care stores at 1.2%. (Source: CBRE)
NEWS & NOTABLES
ORLANDO—HFF hired Rebecca Van Reken as a managing director in its Orlando office. Van Reken will focus on originating debt and equity placement transactions in the southeastern United States. She has more than 15 years of commercial real estate finance and capital markets experience and joins HFF from A10 Capital, where she was an executive vice president. Prior to that, she spent nearly 10 years at CapitalSource, the commercial lending division of Pacific Western Bank, where she rose through the ranks from an associate in the real estate lending group to an investment officer. Van Reken began her career at CNL Financial Group as a research analyst. She has a Master of Business Administration degree from Rollins College and a Bachelor of Arts from Calvin College in Michigan.
DEAL TRACKER
TAMPA, FL—Cushman & Wakefield negotiated a 6,054-square-foot, ground-floor showroom lease with Empire Office at The Times Building in Downtown Tampa. Senior director Mercedes Angell and director Lauren Coup negotiated the lease on behalf of Matawan, NJ-based building owner Denholtz Associates. CBRE's Jack Hoskins and Matt Watson represented Empire Office. The Times Building space will be Empire Office's new Tampa showroom location. The company will be relocating from its current showroom on West Linebaugh Avenue. A fourth quarter 2017 move-in date is anticipated.
PEMROKE PINES, FL—Berger Commercial Realty/CORFAC International leased 35,630 square-feet of industrial space to medical devices manufacturer InNeuroCo at the Bergeron Distribution Center, a 173,373-square-foot, class A distribution and warehouse facility in Pembroke Pines. With construction scheduled for completion this month, the lease is the first to be secured during the property's preleasing phase. International Property Group represented InNeuroCo in the transaction and managed the design process for the space. Bergeron Distribution Center sits 9.1 acres of land at the southwest corner of Stirling Road and Southwest 196th Avenue and offers convenient access to Interstate 75, US 27, Interstate 595 and Florida's Turnpike.
DANIA BEACH, FL—Cushman & Wakefield negotiated leases with General Insulation and Kaman Industrial Technologies in Building B of Port 95 Business Center. The two leases, totaling 47,182 square feet, bring the two-building warehouse and distribution center to 92% occupancy. Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister represented owner MSG Port 95, LLC in negotiating long-term relocation leases with the Broward County businesses. Kaman Industrial Technologies is a subsidiary of Kaman Corporation, one of North America's largest industrial distributors.
CLERMONT, FL—Transwestern has been retained to sell Royal Oaks Plaza, a 15,782-square-foot, single-story, multitenant medical office building located within a commercial real estate development at 2105 Hartwood Marsh Road in Clermont. Transwestern's John Bell is marketing the asset, which will be auctioned through RealINSIGHT Marketplace on Sept. 27, 2017, on behalf of a special servicer seller. Situated on 1.65 acres at the prominent intersection of US Highway 27 and Hartwood Marsh Road. The property is currently 73.5% occupied with a majority of long-term leases from established tenants.
BUILDING BLOCKS
PENSACOLA, FL—Home2 Suites by Hilton Pensacola I-10 at North Davis Highway has official opened. Owned and managed by A & R Hospitality, Home2 Suites by Hilton Pensacola I-10 at North Davis Highway offers all-suite accommodations with fully equipped kitchens and modular furniture providing guests the flexibility to customize their suite to their style and preference. Located at 7753 North Davis Highway, right off Interstate 10, the new hotel is near a mix of attractions, from go-karts and boardwalk entertainment, to historic military sites and museums. Guests seeking a family-friendly adventure can explore Sam's Fun City, Pensacola's only amusement and waterpark or enjoy the challenge with Escape on Palafox.
MIAMI—Early this week in Florida saw some musical chairs, more industrial leasing action and some interesting retail numbers. And a new hotel just opened its doors in North Florida.
BY THE NUMBERS
Categories with stronger retail sales growth still account for relatively little occupancy of U.S. malls. That includes restaurants at only 4.6% of gross leasable area, sporting goods at 3.1%, home furnishings at 1.6% and health and personal care stores at 1.2%. (Source: CBRE)
NEWS & NOTABLES
ORLANDO—HFF hired Rebecca Van Reken as a managing director in its Orlando office. Van Reken will focus on originating debt and equity placement transactions in the southeastern United States. She has more than 15 years of commercial real estate finance and capital markets experience and joins HFF from A10 Capital, where she was an executive vice president. Prior to that, she spent nearly 10 years at CapitalSource, the commercial lending division of Pacific Western Bank, where she rose through the ranks from an associate in the real estate lending group to an investment officer. Van Reken began her career at CNL Financial Group as a research analyst. She has a Master of Business Administration degree from Rollins College and a Bachelor of Arts from Calvin College in Michigan.
DEAL TRACKER
TAMPA, FL—Cushman & Wakefield negotiated a 6,054-square-foot, ground-floor showroom lease with Empire Office at The Times Building in Downtown Tampa. Senior director Mercedes Angell and director Lauren Coup negotiated the lease on behalf of Matawan, NJ-based building owner Denholtz Associates. CBRE's Jack Hoskins and Matt Watson represented Empire Office. The Times Building space will be Empire Office's new Tampa showroom location. The company will be relocating from its current showroom on West Linebaugh Avenue. A fourth quarter 2017 move-in date is anticipated.
PEMROKE PINES, FL—Berger Commercial Realty/CORFAC International leased 35,630 square-feet of industrial space to medical devices manufacturer InNeuroCo at the Bergeron Distribution Center, a 173,373-square-foot, class A distribution and warehouse facility in Pembroke Pines. With construction scheduled for completion this month, the lease is the first to be secured during the property's preleasing phase. International Property Group represented InNeuroCo in the transaction and managed the design process for the space. Bergeron Distribution Center sits 9.1 acres of land at the southwest corner of Stirling Road and Southwest 196th Avenue and offers convenient access to Interstate 75, US 27, Interstate 595 and Florida's Turnpike.
DANIA BEACH, FL—Cushman & Wakefield negotiated leases with General Insulation and Kaman Industrial Technologies in Building B of Port 95 Business Center. The two leases, totaling 47,182 square feet, bring the two-building warehouse and distribution center to 92% occupancy. Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister represented owner MSG Port 95, LLC in negotiating long-term relocation leases with the Broward County businesses. Kaman Industrial Technologies is a subsidiary of Kaman Corporation, one of North America's largest industrial distributors.
CLERMONT, FL—Transwestern has been retained to sell Royal Oaks Plaza, a 15,782-square-foot, single-story, multitenant medical office building located within a commercial real estate development at 2105 Hartwood Marsh Road in Clermont. Transwestern's John Bell is marketing the asset, which will be auctioned through RealINSIGHT Marketplace on Sept. 27, 2017, on behalf of a special servicer seller. Situated on 1.65 acres at the prominent intersection of US Highway 27 and Hartwood Marsh Road. The property is currently 73.5% occupied with a majority of long-term leases from established tenants.
BUILDING BLOCKS
PENSACOLA, FL—Home2 Suites by Hilton Pensacola I-10 at North Davis Highway has official opened. Owned and managed by A & R Hospitality, Home2 Suites by Hilton Pensacola I-10 at North Davis Highway offers all-suite accommodations with fully equipped kitchens and modular furniture providing guests the flexibility to customize their suite to their style and preference. Located at 7753 North Davis Highway, right off Interstate 10, the new hotel is near a mix of attractions, from go-karts and boardwalk entertainment, to historic military sites and museums. Guests seeking a family-friendly adventure can explore Sam's Fun City, Pensacola's only amusement and waterpark or enjoy the challenge with Escape on Palafox.
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