Miami condo development secures $13 million loan from Trez Forman

                                                                                       Courtesy of Glasshaus

Rendering of Miami’s Glasshaus Condo
Coconut Grove, FL

Miami, FL and Palm Beach, FL — Trez Forman Capital funded a $13.2 million construction loan for the developer of a boutique luxury condominium project in the Coconut Grove section of Miami.

Daniel Ribeiro

The 5-story, 23-residence GlassHaus is being co-developed by Brazilian-based G.D8, led by Daniel Ribeiro, and Element Development LLC, a Miami-based company headed up by Javier Lluch.

More than half of the units have been presold and construction is underway. The loan will provide the developers with enough capital to finish the building, which is located on a half-acre site at 3156 SW 27th Ave. near popular retail and dining and entertainment venues. 

The borrower is West Townhomes, LLC. Trez Forman President/CEO Brett Forman originated the loan, which closed on July 16, 2019.

“This is a premier project being developed by two groups that have a strong track record,” said Forman. “We are very confident in their ability to execute on their plan to deliver a first-class building that is a perfect fit for the Grove.”

Javier Lluch

GlassHaus features a minimalistic design with a clean, elegant style that invites natural light in. 

The building has between one and three-bedroom residences ranging in size from just over 1,000 square feet to 2,953 square feet. 

 Each unit has 11-foot finished ceilings and floor-to-ceiling glass windows, porcelain flooring options as well as European-designed kitchens with Bosch-brand appliances.

The building features a reception lobby with a living garden wall and covered secured parking with charging stations.  

Resort style amenities include a rooftop pool and summer kitchen, a fitness center adjacent to Zen garden and electric bicycles for residents to use.

Unit prices range from $853,221 to $1.578 million.

Brett Forman

This is the second new construction project Trez Forman has funded in Coconut Grove. Earlier this year, the private commercial real estate lender closed on a $21 million construction loan for the 52-unit Arbor located at 3434 Oak Avenue.

Trez Forman provides commercial bridge loans for development and construction and senior stretch financing, starting at $5 million. It also offers private and institutional investors equity investment opportunities in a variety of funds and assets. 

CONTACTS:

Eric Kalis

Vice President, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | FortLauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.trezforman.com.

Development projects in South Texas Get Good News on Wetland Mitigation Credits

 

Danny Moran

GALVESTON BAY, TX   --  Development projects in south Texas that have been on hold for lack of access to wetland mitigation credits got good news in July with the release of more than 100 credits approved for the Gulf Coastal Plains Wetland Mitigation Bank (GCPWMB).

Officials of EcoSystem Renewal LLC, co-manager for the sponsor of the mitigation bank site comprising 1,957 acres in the Galveston region, said the release of the new credits by the U.S. Army Corps of Engineers will help jump-start projects in the watershed.

Freshwater PEM/PSS wetland credits are in short supply and many projects in the region need this type of credits to move forward, according to Danny Moran, managing director of EcoSystem Renewal.

Mitigation banks are large sections of land, typically hundreds or thousands of acres, where wetlands and critical ecological systems are being restored and preserved for future generations.

Private companies and public agencies that need to pave roads, install pipelines or build structures and infrastructure that impact wetlands are required by law to mitigate, or offset, any unavoidable loss of wetlands.

Purchasing credits from a mitigation bank is the preferred method of meeting regulatory requirements and achieving the federal goal of “no net loss of wetlands.”

The new release, of about 108 credits, are for physical, chemical or biological impacts in riverine, herbaceous shrub areas. The Gulf Coastal Plains bank also has tidal marsh credits available from previous releases for developers who need those to meet federal regulations.

“We thank our federal and state regulatory partners’ efforts in diligently pursuing this important Texas project,” Moran said. “Many delayed projects may now move forward once they acquire these credits to offset unavoidable impacts to wetlands by their proposed projects.” 

 CONTACTS:

Danny Moran,

Managing Director,

 EcoSystem Renewal, LLC,

(toll free) 888-294-8101, ext 802, 

dmoran@ecosystemrenewal.com;  

ecosystemrenewal.com

Will Beaty,

 Director of Sales and Marketing,

 EcoSystem Renewal, LLC, 888-294-8101 ext 802,

wbeaty@ecosystemrenewal.com

Beth Payan,

Larry Vershel Communications 

 407-644-4142 or 407-461-3781

 Beth@LarryVershel.com  

Energy and Petroleum Services Provider Vecenergy Leases Suite at Marine Executive Center in Fort Lauderdale, FL

 

Judy Dolan

FORT LAUDERDALE, FL (July 23, 2019) – Berger Commercial Realty/CORFAC International Senior Vice Presidents St. George Guardabassi and Judy Dolan recently represented Resolve Maritime Academy, LLC in leasing 2,200 square feet of office space to Vecenergy at Marine Executive Center, located at 1510 S.E. 17th Street in Fort Lauderdale.

Vecenergy currently maintains petroleum tanks and provides offloading services for petroleum products at Port Everglades.

“Marine Executive Center was ideal for Vecenergy for a number of reasons, the foremost being location,” Guardabassi said.

“The building is located less than a mile from Port Everglades.

St. George Guardabassi

Additionally, with the recent completion of renovations, Vecenergy was accommodated in a new, first-class office suite.”

Vecenergy, the energy division of the Vecellio Group, offers storage and distribution terminals for petroleum products and additives, biofuels feedstock research and biodiesel production technology.

Founded in 1938, the Vecellio Group is a fourth-generation, family-owned and operated business. The company is consistently ranked by the Engineering News-Record among the top 400 contractors in the nation and among the nation’s leading transportation contractors. 

Marine Executive Center, 1510 S.E. 17th Street
 Fort Lauderdale, FL

“Marine Executive Center is an attractive option for many marine, shipping, logistics and energy companies in South Florida,” added Dolan. “The building offers covered parking, high-end finishes and an unrivaled location along the 17th Street Causeway.

"As owner of the building, Resolve has also erected a 4,500-square-foot solar panel to meet some of Harbor Place’s energy requirements, making it one of the greenest professional spaces along the Causeway.”

For more information about Berger Commercial Realty’s leasing services, please call 954-358-0900.

Contacts:

 954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

www.corfac.com.

www.bergercommercial.com.

Newmark Knight Frank Brokers Three Office Deals in South Florida

Mitchell Millowitz

Boca Raton, FL — Newmark Knight Frank (NKF) announced the completion of three high-profile office deals in South Florida totaling more than 98,000 square feet. 

The flurry of activity illustrates a recent NKF research report showing vacant office space in South Florida dropping to its lowest level since the Great Recession began more than a decade ago.

In the first deal, Oakland Sun Partners, LLC purchased 1 Dambrackas Way, a 48,671-square-foot Class B office building located in Sunrise, Florida.

Originally built in 1985, 1 Dambrackas Way is also within a short drive to several nearby retail and dining destinations. The new owners purchased the building for $4.02 million.

Ryan Rosalsky

NKF Executive Managing Director Mitchell Millowitz, NKF Senior Managing Director Ryan Rosalsky and Associate R.J. Ward represented the buyer.

Millowitz also executed a new lease agreement for e-commerce company Vitacost at 4700 Exchange Court in Boca Raton Innovation Campus.

The 35,438-square-foot deal is part of an ongoing transformation for the online vitamin and healthy product supplier, which is a subsidiary of Kroger.

Vitacost will relocate from its current headquarters at a one-story building in The Park at Broken Sound in August.

R.J. Ward

A former IBM corporate hub, Boca Raton Innovation Campus features an impressive array of onsite amenities that include a state-of-the-art fitness center, high-tech conference center, food hall, on-site accredited day care center and numerous walking trails.

  Jeff Kelly represented the landlord, Crocker Partners.

“Vitacost conducted an extensive search of amenity-laden office properties in the region to fulfill its charge of finding a modernized, collaborative workplace environment with an abundance of natural light,” said Millowitz.

“Boca Raton Innovation Center is the Southeast’s premier science and technology hub, and its proximity to talent and walkable amenities will provide Vitacost with a significant recruiting advantage in the years to come.”

Madelayne Garcia

In the third deal, Millowitz, Rosalsky and Ward represented AlphaStaff, a HR outsourcing firm, in its office relocation from Cypress Creek to Sunrise Corporate Plaza. 

Tom Kates

AlphaStaff will occupy 14,604 square feet of space at the Class A office building in Sunrise beginning in January 2020.

Built in 1999, Sunrise Corporate Plaza totals 107,748 square feet and is 100% occupied.

  Madelayne Garcia and Tom Kates represented the landlord, Stiles.

Two of the three transactions occurred in Broward County, which recorded 191 lease deals totaling more than 563,000 square feet in the first quarter of 2019. 

Broward also accounted for more than 58% of all Class B leasing activity across South Florida in Q1 2019, as limited blocks of availability in Class A buildings continued to aid the Class B sector.

Jeffrey Kelly

Read NKF’s full Q1 South Florida office report here.

CONTACT:

Nick Banaszak

1718 Peachtree St., Suite 1048 

Atlanta, GA 30309

M: 256-457-5384

www.thewilbertgroup.com

www.ngkf.com.

Newmark Knight Frank Inks 63,000-SF Headquarters Relocation Deal in Coral Gables, FL

Patrick M. Duffy

Miami, FL, July 22, 2019 — Newmark Knight Frank (NKF) announced today it brokered a 63,000-square-foot headquarters relocation deal for BAC Florida Bank in Coral Gables, Florida’s business district. 

BAC Florida Bank signed a long-term lease at The Plaza in Coral Gables, an upscale mixed-use development currently under construction. Beginning in 2022, the company will occupy the top three floors of the project’s South Tower.

NKF Vice Chairman Patrick Duffy and Director Clay Sidner represented BAC Florida Bank in the transaction.

Blanca Commercial Real Estate CEO Tere Blanca, Vice Chairman Danet Linares and Executive Vice President Andres Del Corral represented the landlord, Agave Holdings.

Danet Linares

“BAC Florida’s move to the modern development at The Plaza reflects our commitment to continue to grow and to serve our clients’ needs in a workspace that supports our day-to-day business activities,” stated Julio Rojas, Chief Executive Officer of BAC Florida Bank. 

Tere Blanca

“The Plaza in Coral Gables is a superb location and we are grateful for the expertise provided by Newmark Knight Frank to secure the space. BAC Florida looks forward to celebrating the 50-year anniversary of our founding in The Plaza.”

Julio Rojas

Located at 3011 Ponce de Leon Boulevard, The Plaza at Coral Gables consists of two Class A office towers totaling 447,675 square feet; a 4.5-star, 242-room hotel with meeting space; 161,000 square feet of carefully curated restaurants, entertainment and lifestyle retail; and residential townhomes and apartments. 

The seven-acre community is expected to deliver in 2021.

“The Plaza’s premier location and luxury amenity set were significant factors in BAC Florida Bank’s decision to relocate its Coral Gables headquarters,” said Duffy.

Andres del Corral

“The walkable, mixed-use community fits within our client’s long-term strategy to elevate its workplace environment and attract and retain top talent.”

The Plaza at Coral Gables is the first large mixed-use development in the City of Coral Gables. 

According to NKF’s Q2 office report, the Coral Gables submarket is strong and active. 

In the last quarter, two of the largest building transactions occurred in the area, totaling more than $113 million and 308,495 square feet. 

Clay Sidner

In addition, The Plaza represents the largest new construction project in Coral Gables since the city’s inception in the 1900s.

CONTACTS:

Liz Maddux · Assistant Account Executive

1718 Peachtree St., Suite 1048 · Atlanta, GA 30309

M: 478-972-3210

www.thewilbertgroup.com

      

www.ngkf.com. 

Hold-Thyssen Closes on Three Multi-Year Leases at Emerald Commerce Center in Kissimmee, FL

Alex Rowlinson

KISSIMMEE, FL – Hold-Thyssen, Inc. a full service commercial real estate firm based in Winter Park completed three multi-year lease agreements for flex space totaling 6,460 square feet at Emerald Commerce Center, 931 Armstrong Blvd. off Hwy 192 in Kissimmee .

 Amateur Athletic Union, a national non-profit organization dedicated to promoting amateur sports and physical fitness programs, leased 3,900 square feet; Cal-Tech Testing, Inc. a construction and engineering firm headquartered in Jacksonville leased 1,560 square feet; and Aadore International, LLC, a retailer specializing in souvenir stores in the Disney and Universal areas leased 1,000 square feet.

 The Hold-Thyssen team of Alex Rowlinson and Troy Stevens brokered both transactions on behalf of the landlord a private investor who also appointed Hold-Thyssen to handle leasing and management for the center which is currently 100 percent leased.

Troy Stevens

 Hold-Thyssen provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide. 

 The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States .

CONTACTS:

 Anthony Fisher, Vice President, Hold-Thyssen Real Estate Services,

407-691-0505,
afisher@HoldThyssen.com

 Robert P. Hold, Principal, Hold-Thyssen, Inc. 

407-691-0505, 
bhold@HoldThyssen.com

Larry Vershel or Beth Payan, Larry Vershel Communications 

407-644-4142 
Lvershelco@aol.com or

beth@larryvershel.com

JLL announces sale of The Shops Buckhead Atlanta

The Shops Buckhead Atlanta, a 355,646-SF mixed-use project at 3035 Peachtree Road with best-in-class retail 
and creative office space in Atlanta’s Buckhead submarket

Richard Reid

ATLANTA, GA – JLL announces that it has closed the sale of The Shops Buckhead Atlanta, a 355,646-square-foot mixed-use project with best-in-class retail and creative office space in Atlanta’s Buckhead submarket.

JLL marketed the property on behalf of the seller, an institutional joint venture. Jamestown purchased the asset. 

Completed in 2014, The Shops Buckhead Atlanta is leased to a variety of highly notable luxury and upscale shops, restaurants, entertainment and fitness tenants. 

The office space is fully leased to two tenants, Spanx’s global headquarters and No18, the first U.S. co-working location. Additionally, the property includes two prime development sites totaling 2.7 acres. 

Trey Morsbach

Surrounded by Atlanta’s most affluent neighborhoods and Buckhead’s thriving office market, 

The Shops Buckhead Atlanta’s location at 3035 Peachtree Road is strategically positioned north of downtown along Atlanta’s most prestigious address. 

The area has earned a WalkScore ® of 93, which is higher than any other location in Atlanta. 

The property serves the top demographics in the Southeast – 65,000 households earning an average annual household income of approximately $142,000 are within a three-mile radius.

The JLL Capital Markets team representing the seller was led by senior managing directors Richard Reid, Trey Morsbach, Barry Brown and Jim Hamilton and director Mike Allison. Coleman Morris, JLL director of Retail Agency Leasing, provided retail and leasing guidance to the seller.

Barry Brown

“The irreplaceable location, demographic fundamentals and best-in-class construction position 

"The Shops Buckhead Atlanta for long-term success with the ability to attract top local, national and international tenant prospects,” Reid said.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

Jim Hamilton

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

About Jamestown

Jamestown was established in 1983 as an investment and management company focused on income-producing real estate in the United States. 

Over the last 35+ years, Jamestown has grown its portfolio of assets in key markets throughout the U.S. and expanded its investment footprint to South America and Europe. 

Jamestown's capabilities include: acquisitions, capital markets, property management, asset management, retail leasing, design, sustainability, and risk management. 

Michael Allison

Jamestown has headquarters in Atlanta, GA and Cologne, Germany, and offices in New York, NY, Boston, MA, San Francisco, CA, Los Angeles, CA, and Bogota, Colombia. 

For more information, please visit www.jamestownlp.com.  

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. 

Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. 

In doing so, we will build a better tomorrow for our clients, our people and our communities.

Coleman Morris

 JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. 

 Contacts:

Richard Reid, JLL Senior Managing Director

Georgia License No: 313257

Phone: +404 832 8460

Email: r.reid@am.jll.com

 Trey Morsbach, JLL Senior Managing Director

Phone: +214 265 0880

Email: trey.morsbach@am.jll.com

 Kimberly Steele

Phone: +713 852-3420

Email: Kimberly.Steele@am.jll.com

 jll.com.

Blackton to Provide Flooring Products Worth $600,000 for Maronda’s Coming Soon Community in Davenport, FL

Michael 'Micky' Blackton

Orlando, FL and Davenport , FL --- Blackton Inc., the Orlando firm that ranks as one of Central Florida’s largest distributors of materials to homebuilders has been selected as the supplier of flooring at a new coming soon community Maronda Homes is developing in Davenport. 

 

Michael “Micky” Blackton, chief executive officer, said his firm will provide more than $600,000 worth of flooring materials in the construction of some 87 single-family homes at North Ridge Reserves, Maronda’s newest Davenport community located on North Boulevard West.    

“Maronda, serving new homebuyers throughout a six county region of Central Florida , has been a loyal client for decades,” said Blackton.

Blackton, Inc., a family owned business headquartered on Alden St. near Ivanhoe Row north of downtown Orlando , has been supplying the home building industry from Jacksonville to Tampa for over 65 years.

CONTACTS:

Michael “Micky” Blackton, CEO, Blackton, Inc.

 407-898-2661 Micky@Blacktoninc.com

Larry Vershel or Beth Payan, Larry Vershel Communications

407-644-4142 Lvershelco@aol.com