National
Lawrenceville MF Asset Changes Hands for $58.3M
Madison at River Sound was recently sold to Los Angeles-based Investors Management Group for $58.3 million. The new owner of the community is a private real estate investment firm focusing exclusively on the multifamily sector. Investors Management Group specializes in value-add and opportunistic real estate investments in major metropolitan markets in need of recapitalization, repositioning, or significant renovation.
Two Arizona Architects Selected to Design New Banner Health Facility
Following its merger with the University of Arizona Health Network in late February, Banner Health has tapped two Arizona architecture firms to design its new hospital in Tucson.
Coral Landings III Grocery-Anchored Center Sells for $33.7M
Coral Landings III a 176,575-square-foot, grocery-anchored retail center between Coral Springs and Margate has recently been sold, HFF announced. The company marketed the asset on behalf of the Fort Lauderdale-based seller, Stiles Corporation. Madison Marquette Realty Services purchased the retail complex for $33.7 million, free and clear of existing debt. The investment sales team was led by Senior Managing Director Danny Finkle, Managing Director Luis Castillo, Associate Director Nat Scarmazzi and Director Analyst Kim Flores.
Minto Moves Forward on Luxury Development
Construction is progressing on Festival, Minto Communities’ latest residential development in the Champions Gate area in Orlando. Five luxury vacation villa models are scheduled for completion in early April 2015. Founded in 1955, Minto is a Canada-based family-owned business with more than 70,000 homes built including more than 20,000 in Florida in 43 communities throughout the state.
Church Turns Into Multi-Tenant Retail Development
The relocation of the Christian Faith Fellowship Church to North Country Club Drive opened up a redevelopment opportunity at the religious organization’s former location at 5601 E. Broadway Boulevard. A local developer under the entity Broadway Festival, LLC picked up the two-acre property and marked it out for a multi-tenant retail project with three freestanding pads, one of which has already secured its first tenant.
Associated Estates Realty Corporation Acquires Luxury Apartment Community
The recently completed 1160 Hammond luxury rental community was picked up by Associated Estates Realty Corporation, the Ohio-based company announced in a press release. The multifamily property is located in the Sandy Springs/Perimeter submarket of Atlanta, within walking distance of the Sandy Springs MARTA station along with 29 million square feet of offices and retail options including the Perimeter Mall.
FTI Consulting Signs 17 KSF Lease at One Biscayne
FTI Consulting Inc. has recently moved to One Biscayne Tower from Miami Center.
Joint Venture Builds 370 KSF Spec Warehouse on Infill Site
By Balazs Szekely, Associate Editor Oakmont Industrial Group’s programmatic joint venture with The Carlyle Group recently announced the acquisition of a 35-acre infill land in Atlanta. The partnerships plan is to develop a 370,000 square-foot spec warehouse. Founded in 1996, Oakmont is a locally-based fully integrated industrial real estate investment, development and management company with […]
CBRE Tapped to Lease Lake Mary Portfolio
By Balazs Szekely, Associate Editor Banyan Street Capital and Oaktree Capital Management L.P. have put CBRE Group Inc. in charge of leasing at Primera Towers I, II and IV, a three-building Class A office portfolio in Lake Mary. Located at Crescent Executive Court and Primera Boulevard, the recently renovated properties total 428,672 rentable square feet […]
California Bioscience Firm Opens Diagnostic Lab near Tucson
By Balazs Szekely, Associate Editor A health diagnostics laboratory is soon to arrive at the Tucson scene. LCMS Laboratories Inc. announced a new commercial lease agreement for an undisclosed amount of space at 10831 N. Mavinee Drive, Suite 105 in Oro Valley. Bob Davis of Rein & Grossoehme Commercial Real Estate represented LCMS Laboratories in […]