Saturday, September 3, 2016

Bijou Bay Harbor Begins Converting Reservations Into Contracts in Bay Harbor Islands, FL

Rendering of Planned Bijou Bay Harbor Condominiums in Bay Harbor Islands, FL

Robert Morales
BAY HARBOR ISLANDS, FL –– Bijou Bay Harbor, a boutique-style waterfront condominium, has officially begun moving reservations into contracts for its 41 private residences, including five penthouses. 

With 60 percent of its available units sold, construction of the luxurious Bay Harbor Islands condominium is expected to start later this year.

Bijou Bay Harbor, which is being developed by Ability by Acierto, will feature open and light layouts with floorplans ranging from 900 to just over 2,000 square feet. Prices begin in mid-$600,000s and rise to $2 million for the penthouses.

“We’ve reached this milestone as a result of monumental efforts from our great sales team and valued broker community,” said Robert Morales, the vice president of operations for Ability by Acierto.

“We look forward to continued success for this project and are excited to break ground. Bijou Bay Harbor is being developed at the perfect time when Bay Harbor Islands is experiencing a major resurgence.”

  For a complete copy of the company’s news release, please contact:

Ashley Fierman/ Sandra Reichman

(954) 370-8999

POSCO America Corp. Leases 11,560 SF at 6465 East Johns Crossing in Johns Creek, GA

Michael Howell

ATLANTA -– Lincoln Property Company (Lincoln) has signed a new 10-year, 11,560-square-foot lease for POSCO America Corp. at the recently renovated 6465 East Johns Crossing office building in Johns Creek, Georgia.

Michael Howell and George Gwaltney of Lincoln represented the landlord, Onward Investors, in the transaction, and Nick Kim, Bradley Fulkerson and Thomas Savage of Transwestern represented the tenant.

 “Recent renovations have significantly impacted interest and leasing activity at 6465 East Johns Crossing,” Gwaltney said. “The building is now 89 percent leased, and with the momentum we’re seeing in Johns Creek we expect to see continued leasing velocity at the building.”

The building recently underwent a significant renovation of the lobbies on the first and second floors, including upgraded accent lighting and installation of a new digital tenant directory, as well as a landscaping overhaul.

Located within Johns Creek Technology Park, a 1,900-acre master planned development, 6465 East Johns Crossing is a 100,000-square-foot, Class A four-story office building. Amenities include a lakeside walking path, complete with fitness stations, and an outdoor patio overlooking the two-acre lake.

For a complete copy of the company’s news release, please contact:

Savannah Durban
The Wilbert Group

Berger Commercial Realty Renews Lease for 32,000 SF at Palm Crossing Central in Fort Lauderdale, FL for Integrated Regional Laboratories

Keith Graves
FORT LAUDERDALE, FL -- Berger Commercial Realty Senior Vice President Keith Graves recently represented SPG Palm Crossing, LLC in renewing a lease for 32,220 square-feet of flex space at Palm Crossing Central to Integrated Regional Laboratories (IRL), a hospital-affiliated regional laboratory provider that offers state-of-the-art diagnostic testing, microbiology capabilities and personalized client support services.

IRL's facility at Palm Crossing Central is the most advanced automated laboratory in Florida.

Located at 5371 N.W. 33rd Ave. in Fort Lauderdale, Palm Crossing Central is currently 91 percent leased. The 71,411-square-foot property offers a campus-style office park setting within minutes of I-95, Florida's Turnpike, Fort Lauderdale Executive Airport, and local hotels, restaurants and banks.

In addition to its laboratory at Palm Crossing Central, IRL maintains a histology and microbiology operation in Largo and a network of hospital-based rapid response laboratories throughout the state.

For a complete copy of the company’s news release, please contact:

Lexi Robinson, ext. 255,

Marielle Sologuren, ext. 226, 

Berger Commercial Realty Secures 10,000 SF in New Leases in Fort Lauderdale, FL and North Lauderdale, FL

Annette Rey Bishop

FORT LAUDERDALE, FL - Berger Commercial Realty brokers recently secured 10,019 square-feet in lease transactions on behalf of tenants in Fort Lauderdale and North Lauderdale.

Greg Milopoulos
Broker Associate Greg Milopoulos represented B-Awe Sum International, LLC in leasing 6,019 square-feet of industrial space from Liberty Property Limited Partnership in suite 114 at Cypress Creek Industrial Park, located at 6500 N.W. 12th Ave. in Fort Lauderdale.

B-Awe Sum International, doing business as B A Valves and Controls, has manufactured, supplied and installed valves for commercial clients in South Florida for 15 years.

Sales Associate Annette Rey Bishop and Senior Sales Associate Jonathan Thiel represented Infinite Communications Incorporated in leasing 3,000 square-feet of industrial space from McNab Commercial Center No. 1, LLC in suites D-1, D-2 and D-3 at McNab Commercial Center, located at 7544 W. McNab Road in North Lauderdale. Infinite Communications Inc. provides telecommunications services for residential and commercial clients.

Bishop also represented Konecranes, Inc. in leasing 1,000 square-feet of industrial space in suite C-25 at McNab Commercial Center. For more than 80 years, Konecranes has provided lifting equipment and services to businesses around the globe. Headquartered in Hyvinkää, Finland, Konecranes now has in four locations in Florida.

For a complete copy of the company’s news release, please contact:

Lexi Robinson, ext. 255,

Marielle Sologuren, ext. 226, 

Berger Commercial Realty Secures 30,000 SF in Lease Transactions for Fort Lauderdale, FL Landlords

Steve Hyatt
FORT LAUDERDALE, FL - Berger Commercial Realty brokers recently secured 30,543 square-feet in lease transactions on behalf of landlords in Fort Lauderdale.

Harbor Walk Building

Senior Vice President Steve Hyatt represented Intervest-Harbor Walk, LLC in leasing 7,200 square-feet of space to Platinum Fundraising, LLC at the Harbor Walk Building, 1650 S.E. 17th Street, Fort Lauderdale.  Along with Senior Vice President St. George Guardabassi, Hyatt also represented Intervest-Harbor Walk in leasing 1,650 square-feet of space to Wolfson Productions, LLC.

Prospect Park II

At Prospect Park II, Senior Vice Presidents Joe Byrnes and Keith Graves and Senior Sales Associate Jonathan Thiel represented AKF3 SF Light Industrial, LLC in the lease extension of 6,854 square-feet of mixed-use space to Advantage Sales & Marketing, LLC at 3405 to 3407 N.W. 55th Street and the new lease of 5,589 square-feet of flex space to Harmon, Inc. at 3361 to 3375 N.W. 55th Street.

St. George Guardabassi
Cypress Creek Tower

Graves and Thiel also represented COLE International Investments, LLC in leasing 5,467 square-feet of space to Dutton Law Group, P.A. at Cypress Creek Tower, located at 800 W. Cypress Creek Road.

Cypress Creek Tower consists of 62,000 square-feet of office space and stands five stories tall. It features an onsite banking facility, a computerized energy management system, and is within minutes of I-95, Florida's Turnpike and the Cypress Creek Tri-Rail Station. Cypress Creek Tower is exclusively leased and managed by Berger Commercial Realty, in addition to four other assets owned by COLE.

Miller Legg Building

Additionally, Graves and Thiel represented North Andrews Way Corp. in leasing 2,696 square-feet of office space to The Health Enrollment Group, Inc. at the Miller Legg Building, located at 5701 to 5775 N. Andrews Way.

Powerline Business Center

Thiel and Senior Vice President Joseph Byrnes represented Rising Tide Development, LLC in renewing a lease for 1,087 square-feet of office space to Florida Atlantic General Construction, LLC at Powerline Business Center, located at 5601 Powerline Road.

For a complete copy of the company’s news release, please contact:

Lexi Robinson, ext. 255,
Marielle Sologuren, ext. 226,

Passco Companies Scores 400-Unit Trophy-Caliber Multifamily Asset in Bradenton, FL for $75 Million

ParkCrest Landings Apartments, Bradenton, FL

                 BRADENTON, FL  – Passco Companies has acquired ParkCrest Landings, a 400-unit, institutional-grade multifamily asset located within the growing submarket of Bradenton in Manatee County, Florida for $75 million.

The Class A+ property is set within a 67-acre site encompassing 9-acres of lakes and 40-acres of nature preserves along a tributary of the Manatee River.

Colin Gillis
            “Bradenton is one of the most dynamic submarkets on the west coast of Florida,” says Colin Gillis, Vice President of Acquisitions for the Southeast at Passco Companies.

“Manatee County has been one of the most stable counties in the state of Florida since 2010, and is continuing to demonstrate consistent economic growth. It has added more than 11,500 jobs over the last 24 months, and has one of the highest per capita incomes in the state.”

Gillis notes that, according to BLS Data, the west coast of Florida has seen tremendous job creation and rent growth over the last several years with every market from Tampa to Naples experiencing significant economic expansion.

In addition, of the 50 or so markets Passco tracks, data from the Bureau of Labor ranks the Bradenton-Sarasota MSA fifth in percentage job growth over the last five years with nearly 17-percent.

ParkCrest Landings is located at 5725 1st Avenue East in Bradenton, Florida. It was developed by Tampa-based CKT Development and leased-up by CKT Asset Management. Jamie May, Chairman & CEO of JBM represented Passco and the seller, CKT Development in the transaction.

Chris Black of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing for Passco Companies through Fannie Mae.

Jamie May
“The five-year average job growth in this market is over five times the ten-year average, illustrating how explosive job expansion has been in this market in recent years,” says Gillis. 

“What is nice about a market like Bradenton is that not only will it benefit from the growth of its own demand drivers, it will leverage off of the success and continued growth of Tampa and St. Pete to the North and Sarasota to the South.” 

According to the Florida Department of Economic Opportunity, Bureau of Labor, the MSA also boasts the fastest annual job growth rate compared to all the metro areas in the state in education and health services (+6.4 percent), which are great indicators to the economic health and future of a region.

Gillis adds that multifamily in Manatee County has performed extremely well over the last several years, achieving rental rates that often exceed their Class “A” counterparts to the north in Tampa and St. Pete. 

“Occupancy rates have consistently maintained well above 95-percent with effective rent growth often exceeding 5-percent annually,” he explains. 

“What makes Bradenton especially unique is that demand for new apartment acquisitions in this market is always very competitive amongst owners that currently own in the area.  It speaks volumes to the market to have current owners fighting it out to expand their footprint in the area due to the success of their current holdings.” 

 The apartment community is located within minutes of some of Bradenton’s largest employers, including Manatee Memorial Hospital, the headquarters for Bealls and Tropicana, IMG Academy and the municipalities for the city and county. Manatee Memorial Hospital alone employs more than 1,445 employees. 

Chris Black
The property is also in close proximity to the medical college LECOM (Lake Erie College of Osteopathic Medicine) which is a major draw to the area with an enrollment of nearly 2,500 students offering post-graduate degrees in dentistry, pharmacy-tech and medical administration.

“One of the key drivers we always look for when acquiring any property is its location near employment, retail and entertainment, and transit. This property checks each of these boxes,” says Gillis.

 “Its unique central location between Tampa and Sarasota with its immediate access to I-75 gives its residents the ultimate flexibility of the areas in which they can work and offers them an unlimited reach of nearby dining, recreation and entertainment options.” 

Constructed in 2015, the apartment community features 17 three-story buildings offering some of the most innovative and expansive amenity packages of any garden-style apartment community in the area.

These amenities include a resident clubhouse and theater, state-of-the-art fitness center, expansive lakeside sun decks, resort-style swimming pools, children’s splash area, 1.2-acre dog park, 1.5 miles of walking trails, cyber café, game room, and kayak/canoe launch and storage with direct access to the Manatee River. 

For a complete copy of the company’s news release, please contact:

Devin Ugland / Lexi Astfalk
Brower, Miller & Cole
(949) 955-7940

NAI Realvest Negotiates Four Leases totaling more than 7,800 SF of Professional Office Space in Orlando, FL area

Jeff Bloom
ORLANDO, FL. – NAI Realvest recently negotiated four lease agreements for professional office space totaling 7,819 rentable square feet at four Orlando area office buildings.

Jeff Bloom, CCIM, vice president at NAI Realvest, brokered a new lease of 1,111 square feet at 1850 Lee Rd. in Winter Park representing the Orlando-based landlord Pan Coastal LTD Partnership and the tenant Virtual Operations LLC, which provides IT services and support to businesses.  

Bloom negotiated a new lease on behalf of Beeta Corp., landlord at the professional office building located at 6388 Silver Star Rd. for a 2,450 square foot suite.  Dr. G’s Medical Group, Inc. is the new tenant represented in the transaction by Allan Holman of Real Property Specialists, Inc. 

Bloom represented the landlord at One South Orange Ave. in a new lease to Eastroom Suites LLC, an advertising and marketing company who leased 668 square feet, and a lease renewal for the 3,590 square feet occupied by Garage Solutions, a software company.

For a complete copy of the company’s news release, please contact:

Beth Payan, Larry Vershel Communications 407-644-4142


NAI Realvest Negotiates New Leases Totaling Over 14,000 SF at 3 Orlando Area Industrial Centers

Megan Minter
ORLANDO, FL  – NAI Realvest recently completed four new lease agreements for industrial space totaling more than 14,000 rentable square feet at three Orlando area Industrial Centers.    

Michael Heidrich, a principal at NAI Realvest and Associate Patty Nolff negotiated the transactions representing the Orlando-based landlords – Monroe South SPE, LLC, Goldenrod SPE, LLC  and  Hanging Moss SPE, LLC.    

Builder Services Group, Inc. of Daytona Beach leased 5,625 square feet at 4140 Flex Court, at Monroe CommerCenter South; Jacksonville-based A1A Solar Contracting, Inc. represented by Derek Riggleman of Lee & Associates leased 2,000 square feet at 6112 Hanging Moss Rd. in Hanging Moss CommerCenter;

River Park Apartments, Ltd. of Orlando leased 4,357 square feet and True Strength Gym-Orlando leased 2,206 square feet in Goldenrod CommerCenter, 1476 and 1468 N. Goldenrod Rd.

 Megan Minter of NAI Realvest represented True Strength Gym.  Tenant River Park was represented by Joseph Nort of Realty Capital.

For a complete copy of the company’s news release, please contact:

Beth Payan, Larry Vershel Communications 407-644-4142

NAI Realvest negotiates New 42,000-SF Refrigerated/Freezer Warehouse Lease in Tavares, FL with Brazilians

Terri Zucchi
TAVARES — NAI Realvest recently negotiated a long term lease of a 42,000 square foot refrigerated warehouse currently used as an ice plant located at 13910 CR 448 in Tavares.

Jason G. Toll, Director of the Industrial Services Group at NAI Realvest negotiated the transaction along with Principals Kevin O’Connor and Matt Cichocki while representing the landlord, LD Plante, Inc. of Altamonte Springs.

The new tenant, JBN Group, LLC, is a Brazilian company that intends to operate a meat processing plant at the property.   Terri Zucchi of Home Wise Realty Group, Inc. represented the tenant.

 For a complete copy of the company’s news release, please contact:

Beth Payan, Larry Vershel Communications 407-644-4142


Berkadia Completes Sale of Two Tampa, FL Properties for More Than $27 Million

Jason Stanton
TAMPA, FL – Berkadia recently completed the sales of two Tampa multifamily properties, Newport Villas and Pinetree Apartments, which sold for a combined $27.3 million.

 Senior Director Jason Stanton of Berkadia’s Tampa office and Senior Director Hal Warren and Managing Director Cole Whitaker of the Orlando office completed the transactions.

“Both of these communities represent a great opportunity for a value-add renovation program, making them appealing to investors in the Tampa Bay market,” Stanton said. 

“Additionally, the employment opportunities offered by the booming business in the downtown area makes this a particularly attractive market.”

Located at 4902 N. Macdill Ave., Newport Villas was sold by Newport Lakeside, LLC of Miami to The RADCO Companies of Atlanta for $20.3 million. 

The 372-unit property, which was just over 97 percent occupied at the time of sale, offers one- and two-bedroom floor plans. 

Unit amenities include ceiling fans, ceramic tiled kitchens and bathrooms, oversized patios, pantries and walk-in closets. Residents also enjoy community amenities including 24-hour laundry facilities, a business center, a cardio fitness center, a clubhouse with a TV room, floating sun deck, a fishing lake, lakeside boardwalk, picnic and barbeque areas and a swimming pool.

Hal Warren
Pinetree Apartments, located at 3706 W. Idlewild Ave., was sold by Miami-based Newport Pinetree, LLC to Tampa-based Idlewood Avenue Apartments, LLC for $7 million. 

The 110-unit property, built in 1985, offers one- and two-bedroom floor plans that feature air conditioning, basic cable, ceiling fans, energy efficient appliances, self-cleaning ovens, and patios or balconies.

 Select units also include vaulted ceilings and walk-in closets. The community has two laundry facilities, a fitness center, a clubhouse, on-site maintenance and management, package pick-up, a picnic area with barbeque grills and a swimming pool.

Both properties are less than seven miles from downtown Tampa and less than five miles from the Westshore District. Nearby Tampa Bay Park Office Complex is a 469,000-square-foot corporate office space and home to tenants including T-Mobile, The Art Institute of Tampa and New York Life.

The Tampa Bay market has a current occupancy of 95.67 percent with average effective rents of $1,100 in the second quarter of 2016. 

Average effective rents increased 6.61 percent year-over-year during the second quarter of 2016. Tampa Bay ranks second among Florida cities for year-over-year job growth, with 42,900 new private-sector jobs added by March 2016. In that time, the area’s unemployment rate decreased to 4.3 percent.
 For a complete copy of the company’s news release, please contact:

Beth Payan, Larry Vershel Communications 407-644-4142