Friday, February 19, 2021

Tricera Capital Announces Joseph’s Classic Market as Anchor Tenant of Shops at The Press in West Palm Beach, FL

Amy Acierno

 WEST PALM BEACH, FL, Feb. 19, 2021 – Tricera Capital, the Miami-based real estate investment firm, finalized a long-term lease with Joseph’s Classic Market to anchor Shops at the Press, the retail component of the firm’s pioneering mixed-use project - The Press - in West Palm Beach.

The redevelopment of the Palm Beach Post campus is a shining example of creative adaptive re-use and expected to reinvigorate the city’s Dixie Highway corridor.

Joseph’s, an upscale family-owned Italian specialty market founded in 2005 by New York native and longtime Palm Beach County resident Joseph Acierno, is leasing more than 15,000 square feet at Shops at the Press.

Ben Mandell
 It will serve the rapidly growing downtown West Palm Beach residential population and become a vital amenity for the professionals based in the adjacent Workspaces at the Press, the 140,000-square-foot office component of Tricera’s project.

Joseph’s was established to bring anyone who loves food an exceptional shopping experience.

Shops at the Press is Joseph’s first West Palm Beach location. Joseph’s has several additional locations in Palm Beach County, including a recently opened market at Simon Property Group’s Town Center at Boca Raton.

“We are thrilled to welcome Joseph’s Classic Market to Shops at the Press,” Tricera Co-Founder and Managing Principal Ben Mandell said.

 “Our office tenants next door will love having easy access to healthy, fresh gourmet grab-and-go meals. Joseph’s also fills a major void for a high-quality upscale specialty grocer that directly caters to the affluent surrounding community.”

Scott Sherman

Known for its fresh ingredients and unparalleled customer service, Joseph’s will offer superior meats and seafood, fresh produce, a hot bar and cold bar, scratch-made bakery, New York pizzeria, chef-prepared entrees and side dishes, gourmet catering and an Italian deli at the Shops at the Press location.

“Our family cannot wait to bring our gourmet market and chef prepared meals to meet the daily needs of West Palm Beach residents and professionals,” Acierno said.

“We are a fourth generation, locally owned and operated business that serves a delicious alternative to dining out and provides an experience comparable to traditional restaurants at affordable prices.”

 Cameron Tallon
Amy Acierno of Florida Communities Realty, LLC represented the grocer in the Shops at the Press lease.

Tricera expects to deliver the Joseph’s space in mid-2022. Meanwhile, the firm is nearing completion of the Starbucks outparcel on the project site at the hard corner of Belvedere Road and South Dixie Highway. The Starbucks is scheduled to open to the public in June 2021.

With The Press, Mandell and fellow Tricera Co-Founder and Managing Principal Scott Sherman are bringing much-needed retail, offices, entertainment and public art to West Palm Beach while preserving an important piece of the city’s history.

Nearly all existing structures are to remain, including the Post’s office building and printing press. The project name is a nod to the Post’s legacy at the site.

Ya La’ford

For Workspaces at the Press, Tricera has recently completed an extensive renovation of the existing four-story office building.

 The Post has signed a new long-term lease and are now occupying 35,000 square feet on the second floor. Cameron Tallon, senior vice president for JLL’s agency leasing team, is handling office leasing on behalf of Tricera.

 Everald Colas 


Other members of the project team include:

·       Miami-based General Contractor Red Door Construction, led by Gal Bensaadon

·       Architect Everald Colas of St. Petersburg-based Storyn Studio for Architecture

·       St. Petersburg-based artist Ya La’ford, a renowned muralist who is creating public art displays on the project’s exterior façade

  

About Tricera Capital:

 Miami-based Tricera Capital is a real estate investment firm focused on value-add, urban retail, office and mixed-use investments and developments throughout the United States.

Since launching in 2017, Tricera’s principals have leveraged their institutional real estate experience, relationships and entrepreneurial spirit to create off-market opportunities and quickly amass a portfolio in select target markets.

The principals are seasoned real estate professionals with deep track records of success in deal sourcing, acquisitions, syndication and leasing.

Their experience enables Tricera Capital to strategically identify and execute deals and move swiftly to create value by repositioning assets and upgrading the tenancy to deliver superior returns to investors.

 

CONTACTS:

Eric Kalis

954-370-8999

ekalis@boardroompr.com

 

Daniel Benjamin

Senior Account Executive

 BoardroomPR

dbenjamin@boardroompr.com

O 954-370-8999

C 954-618-8287

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.triceracap.com.

Meridian Capital Group Arranges $47 Million in Acquisition Financing for The Jamison, a Multifamily Property in Kissimmee, FL

The Jamison apartments, 1040 Jamison Loop, Kissimmee, FL

  New York, NY, Feb. 19, 2021 – Meridian Capital Group, America’s most active dealmaker, arranged $47 million in acquisition financing for The Jamison, a luxury multifamily property in Kissimmee, FL on behalf of Lexin Capital.

                                     Aerial of The Jamison

The seven-year loan, provided by a balance sheet lender, features a rate of 2.85% and three-and-a-half years of interest-only payments followed by a 30-year amortization schedule.


Drew Anderman

This transaction was negotiated by Meridian Senior Managing Director, Drew Anderman, and Directors, Alan Blank and Elliott Kunstlinger, who are all based in the company’s New York City headquarters.

 Located at 1040 Jamison Loop, The Jamison is a newly constructed, class-A multifamily property currently in lease-up.

 

The garden-style property contains 315 units across seven four-story buildings with an average apartment size of 1,061 square feet.

 

The units feature top-of-market finishes, including chef-inspired kitchens with stainless steel Whirlpool appliances, granite countertops, and under counter lighting, in addition to wood-style plank flooring, smart home technology, and screened-in balconies or solariums.


Alan Blank
Residents benefit from an unrivaled amenity package, featuring a resort-style zero entry swimming pool complete with poolside cabanas, a clubhouse with billiards tables, shuffleboard, and pinball, a state-of-the-art fitness center with Aktiv Virtual Training, and Hub by Amazon 24-hour package pickup. 


The Jamison is also pet friendly, offering a leash-free dog park.

 

Situated just off US-192 and one-quarter of a mile from Florida’s Turnpike SR91 exit, residents enjoy exceptional access to points throughout the Orlando MSA and beyond, in addition to proximity to the area’s top employers, including NEOCity, Osceola Regional Medical Center, Tupperware HW, and Lake Nona’s Medical City.

 

“We are very excited to add another property to Lexin’s portfolio in Central Florida,” said Metin Negrin, Founder of Lexin Capital. “The Meridian team did a great job securing this financing for The Jamison acquisition in a relatively short period of time to close for a pre-stabilized property.”

 

“This acquisition provided the borrower with favorable long-term, fixed-rate financing prior to the property reaching stabilization at approximately 80% leased,” said Anderman.

 

Founded in 1991, Meridian Capital Group is America’s most active dealmaker and one of the nation’s leading commercial real estate finance, investment sales and retail leasing advisors.

 

Metin Negrin

In 2019, Meridian closed over $40 billion in financing across more than 250 unique lenders.


  Meridian represents many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, and healthcare and senior housing properties.

 

 Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida, and California.



CONTACT:

Jonathan M. Stern

Senior Managing Director
Meridian Capital Group

1 Battery Park Plaza, 26th Floor

New York, NY 10004

jstern@meridiancapital.com
Direct: 212.612.0181

Mobile: 646.645.8114
www.meridiancapital.com