HFF announces $16.69 Million in joint venture equity for Sarasota, FL seniors housing development

Sarah Anderson

DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announces $16.699 million in joint venture equity for the development of Grand Living at Lakewood Ranch, a best-in-class, 172-unit resort-style seniors housing community in the Lakewood Ranch area of Sarasota, Florida.

The HFF team worked on behalf of the developer, Ryan Companies, US Inc., to arrange a joint venture equity partnership with Eagle Realty Group, LLC.

David R. Fasano

Grand Living at Lakewood Ranch will be situated on 5.02 acres at 7230 University Parkway in the 8,500-acre Lakewood Ranch master planned community. 

The resort-style community will comprise 82 independent living units, 56 assisted living units and 34 memory care units totaling 124,463 rentable square feet. 

 The independent and assisted living component will feature luxury finishes, including stainless appliances, granite countertops, in-unit washers and dryers, faux wood plank flooring, balconies and fireplaces. 

Community amenities will include a variety of dining options; clubroom with fireplace, bar and liquor lockers; grand lounge area; library; performance theater; and wellness spa and fitness area featuring an outdoor pool, state-of-the-art fitness equipment, yoga and group fitness room, salon and massage/exam rooms for rotating wellness providers. 

Ryan Maconachy

 The Memory Care Commons will offer a secure courtyard, lounge and living room along with a dedicated kitchen and dining venue.  Completion is expected in 2019.

The HFF team representing the developer included senior director David Fasano, director Sarah Anderson and senior managing directors Ryan Maconachy and Chad Lavender.

Founded in 1938, Ryan Companies offers comprehensive commercial real estate services as a national developer, architect, capital investment consultant, builder and real estate manager with a focus on bringing lasting value to its customers and the communities in which it works. 

Ryan’s market depth includes retail, industrial, healthcare and senior living.  Ryan development and corporate build-to-suit work spans a wide range of product types, including office, mixed-use, hospitality, multifamily housing and student housing.

Chad Lavendar

  Ryan has nearly 1,300 employees in 13 offices across the U.S. and has completed projects in 38 states.  For more information, visit: ryancompanies.com.

 For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

Blackhawk Properties & Investments Breaks Ground on 550 Building and SOLO Shoppes in Downtown Fort Lauderdale, FL

  

Joseph Byrnes

FORT LAUDERDALE, FL –Blackhawk Properties & Investments, LLC has started construction at 550 S. Andrews Ave. in downtown Fort Lauderdale.

Upon completion in the spring of 2019, the property will consist of the 550 Building and SOLO Shoppes, a 95,532-square-foot, seven-story tower with six floors of office space and 7,500 square-feet of restaurant and patio space on the ground floor.

Featuring an attached parking garage with more than 600 spaces, the class-A building will be the first new office building in downtown Fort Lauderdale’s South of Las Olas (SOLO) District since 1989.

“The 550 Building will be a great addition to an area that is burgeoning with residential development and lacking in modern office, retail and restaurant space,” said Joseph Byrnes, a senior vice president with Berger Commercial Realty/CORFAC International, the exclusive leasing and property management firm for the 550 Building.

“Several office tenants and restaurant operators have been monitoring the progress of the project and are actively speaking with us to advance their plans for occupancy.”

Jim Naugle

Formerly home to the Justice Building, the site was purchased by Blackhawk Properties for $3.6 million in 2013. In 2016, Blackhawk acquired the neighboring site, previously owned by former Fort Lauderdale Mayor Jim Naugle, to accommodate the parking garage and SOLO Shoppes.

The lot is adjacent to the Broward County Judicial Complex at the northeast corner of Andrews Avenue and S.E. 6th Street, which boasts one of the highest pedestrian traffic counts in Broward County.

  

Developers of the 550 Building include Thomas McDonald, Kate Murphy of Collins Capital Partners and William Murphy of Douglas Management. The 550 Building is designed by the award-winning architectural firm of Falkanger, Snyder, Martineau and Yates (FSMY).

Along with Byrnes, Senior Vice President Steve Hyatt is serving as the property’s exclusive leasing agent.

For more information about leasing at the 550 Building, contact Berger Commercial Realty at 954-358-0900.

 For more information, please contact:

Lexi Robinson

954-776-1999, ext. 255

lrobinson@piersongrant.com

www.corfac.com

www.bergercommercial.com

HFF announces sale of regional power center in Sioux City, Iowa

Amy Sands

CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Lakeport Commons, a 282,708-square-foot, open-air regional power center in Sioux City, Iowa. 

Completed in 2005, Lakeport Commons is 92 percent leased and home to national category-leading retailers, including Gordmans, Best Buy, Staples, Michaels, PetSmart, Old Navy, Party City, Shoe Carnival and Dress Barn. 

Jules Sherwood

 Additionally, Kohl’s shadow anchors the property, and the Southern Hill Mall, which is the only enclosed regional shopping mall within 85 miles and attracts more than six million shoppers annually from three states, is adjacent to the center. 

The power center is located at 5101 Sergeant Road at the intersection of U.S. Highway 20 and Sergeant Road, which has combined traffic counts of 32,000 vehicles per day.

  Lakeport Commons serves an expansive trade area holding 127,297 people within 15 miles, and more than 55,950 residents earning an average annual household income of $64,642 live within a five-mile radius of the center.

The HFF team marketed the property for the seller, InvenTrust Properties Corp.  The R.H. Johnson Company purchased the asset. 

The HFF investment advisory team representing the seller included senior directors Amy Sands and Clinton Mitchell and managing director Jules Sherwood, a licensed Iowa real estate broker.

Clinton Mitchell

Founded in 1992, The R.H. Johnson Company is recognized as a market leader in retail real estate services throughout the Midwest. 

 The R.H. Johnson Company owns, manages and leases numerous retail properties in the Midwest, including power centers, grocery-anchored suburban properties, single tenant buildings and mixed-use projects.

The R.H. Johnson Company is a member of Chainlinks Retail Advisors, a nationwide organization which facilitates expansion, disposition, relocation and repositioning efforts throughout the United States and Canada. 

 For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

http://rhjohnson.com