MIAMI BEACH—Marcus & Millichap has been selected to exclusively market for sale the Upland Building, a newly built, four-story, 31,818-square-foot restaurant and 180-space parking garage in Miami Beach's South of Fifth neighborhood. The price is open bid. Located at 49 Collins Avenue, the building is surrounded by high-end residential condominium developments and is within walking distance of some of Miami Beach's most iconic restaurants and entertainment venues, including Joe's Stone Crabs, Smith & Wollensky, Fofo de Chao, Big Pink Restaurant and Prime 112.

DEAL TRACKER

CASSELBERRY, FL—RADCO Companies completed its eighth acquisition of 2017 with the closing of Reflections Apartments in Casselberry. This is RADCO's 74^thacquisition since 2011, seventh acquisition in Florida, and second multifamily community in the Seminole County submarket. The 336-unit, class B property has been renamed Radius Winter Park. Radius Winter Park is located in the Seminole County submarket of northeast Orlando. Seminole County is one of the fastest growing suburbs of Orlando. Since 2000, the population in Seminole County has steadily increased, prompting many new job opportunities.

JUPITER, FL—HFF closed the $56 million sale of Mallards Cove and Shell Trace, two adjacent multifamily communities totaling 359 units in Jupiter. The HFF team marketed the offering on behalf of the seller, Preston Giuliano Capital Partners. Northland Investment Corporation purchased the assets free and clear of existing debt. The buyer has combined the two properties and rebranded the community as Jupiter Isle. The HFF investment sales team included senior managing director Matt Mitchell, managing director Jaret Turkell, senior director Maurice Habif, director Zach Nolan and analyst Simon Banke.

MIAMI—Avison Young's Florida Capital Markets Group along with Bezold Realty have been exclusively tapped to market and sell a 15.56-acre development site with potential to develop approximately 5 million square feet of office, residential, retail, and hospitality product located at 4929 Second Avenue in Miami. The land parcel represents a rare opportunity to own an iconic site that has been held by the Archdiocese of Miami as the former home to the Archbishop Curley-Notre Dame High School. Avison Young principals David Duckworth, John K. Crotty, and Michael T. Fay will lead the marketing and disposition of the property on behalf of the seller. “Although tremendous attention has been driven by the surrounding development in Wynwood and Design District, the area still remains in the early stages of a dynamic transformation,” says Duckworth. “The need for a true mixed-use development is of high demand, and as such, we are confident this distinctive property will garner incredible interest.”

DORAL, FL—CBRE arranged the sale of One Park Square, a Zyscovich-designed, 281,786-square-foot office tower widely regarded to be among the most architecturally-striking office buildings in Florida. Located at 3470 Northwest 82nd Avenue, in Doral, the trophy office asset was sold to a Boston-based institutional advisor on behalf of New Boston Fund, also located in Boston, Massachusetts. CBRE vice chairman Christian Lee and senior vice president José Antonio Lobón led the transaction, assisted by the leasing team at Blanca Commercial and management team from Stiles.

BUILDING BLOCKS

POMPANO BEACH, FL—MCR, the seventh largest hotel owner-operator in the United States, announced the grand opening of the Residence Inn by Marriott Fort Lauderdale Pompano Beach Central, a 112-room hotel located in the Center Port Business Park in Pompano Beach. The $21 million extended-stay hotel is owned and operated by MCR. “This property represents the first ground-up Marriott hotel to open in northern Broward County in 15 years,” says Tyler Morse, CEO and managing partner of MCR.