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Cushman & Wakefield Negotiates $47M Sale of Advenir at Broadwater

Cushman & Wakefield Represented Advenir in the Disposition of the 408-Unit Multifamily Opportunity ORLANDO, July 26, 2017 — Cushman & Wakefield announced today that it has negotiated the sale of Advenir at Broadwater, a 408-unit suburban multifamily apartment community in Orlando, FL. Cushman & Wakefield Senior Director Ken Delvillar Cushman & Wakefield Senior Director Jay Ballard Senior Directors Jay Ballard and Ken Delvillar represented Advenir in the disposition. Emma Capital acquired the asset for $47 million. Advenir at Broadwater is a 408-unit, two-story suburban garden multifamily community built in 1988 on 22.9 acres at 6677 Tanglewood Bay Drive in Orlando. The property is centrally located in the heart of Orlando’s tourist/commercial corridor with visibility along International Drive and Westwood Boulevard. The property gives residents easy access to Orlando’s theme parks and Central Florida shopping destinations. Community amenities include two resort-style swimming pools and spas, a renovated clubhouse, a fitness center with free weights, a racquetball court, a business center, [...]

By | 2018-05-03T14:30:13+00:00 July 26th, 2017|In the News, Press Release|0 Comments

Cushman & Wakefield Report: Florida is the Ideal Location for E-Commerce Business

An Interactive Infographic Produced by Cushman & Wakefield Research and Marketing Documents the Factors Driving the Success of Florida’s E-Commerce Industry ORLANDO, FL, July 17, 2017 — Cushman & Wakefield today released an interactive infographic highlighting Florida’s status as an e-commerce market leader. The document shows Florida’s leading role in the e-commerce industry which is supported by a booming economy and steady population growth as well as in-place last mile infrastructure and unique geographic advantages. “E-commerce and the growth of online shopping is changing the retail landscape in Florida. We see first-hand the development of last mile supply chain strategies which are driving efficiencies and disrupting traditional retail business models,” said Florida Research Manager Chris Owen. “Florida is a prime location for many e-commerce companies,” added Owen. “With nearly 800 people a day moving here, the state has the consumer power and density to support both regional fulfillment hubs and same day, last mile delivery practices.” [...]

By | 2018-05-03T14:30:13+00:00 July 17th, 2017|In the News, Press Release|0 Comments

Cushman & Wakefield Negotiates Sale of Six Class A Suburban Office Buildings

Mike Davis, Michael Lerner and Rick Brugge Represented a Fund Advised by DRA Advisors, LLC in the Disposition of Heathrow International Business Center LAKE MARY, FL, July 13, 2017 — Cushman & Wakefield announced today that it has negotiated the sale of Heathrow International Business Center, which includes six Class A office buildings located in suburban Orlando. The Capital Markets team of Vice Chairman Mike Davis, Executive Director Michael Lerner and Executive Director Rick Brugge represented a fund advised by New York-based DRA Advisors, LLC in the disposition. A controlled affiliate of Starwood Global Opportunity Fund XI acquired the asset in an exclusively negotiated, off-market transaction. Heathrow International Business Center is the third in a series of significant office parks to change ownership in Lake Mary in less than one year, including Colonial Center at TownPark, which sold in May 2017, and Primera Towers, which sold in November 2016. All three transactions were negotiated by Davis, Lerner and Brugge and [...]

By | 2018-05-03T14:30:14+00:00 July 13th, 2017|In the News, Press Release|0 Comments

Cushman & Wakefield Brings The Keller Center to Full Occupancy

Rick Solik and Matthew McKeever Represented TerraCap Management in Suburban Orlando ORLANDO, FL, June 28, 2017 — Cushman & Wakefield announced today that it has assisted TerraCap Management in bringing The Keller Center, a ±160,000-square-foot, Class A office building in Maitland, FL, to full occupancy. Senior Director Matthew McKeever Senior Director Rick Solik Senior Directors Rick Solik, MCR and Matthew McKeever, CCIM, SIOR were selected to lease the building by TerraCap Management in late 2014. Solik and McKeever have since leased ±147,000-square-feet, pushing occupancy in the building from 20 to 100 percent. New tenants in the building include Adventist Health System, which leased ±41,000 square feet. Adventist Health System is a faith-based health care organization headquartered in Altamonte Springs, FL, with 45 hospital campuses and more than 8,200 licensed beds in nine states. CDM Smith, a full-service engineering and construction firm based in Boston, MA, has leased a [...]

By | 2018-05-03T14:30:14+00:00 June 29th, 2017|In the News|0 Comments

Leasing Begins at Second Lakeland Logistics Center Building

Cushman & Wakefield’s Julia Silva Rettig, Jessica Mizrahi, Mike Davis, Jared Bonshire and David Perez Begin Leasing Efforts in Building 200 after Bringing Building 100 to Full Occupancy LAKELAND, FL, June 23, 2017 — Cushman & Wakefield announced today that Building 200 at Lakeland Logistics Center is online and available for lease just months after it assisted ownership in bringing the newly developed warehouse and distribution campus’ first building to full occupancy. The Cushman & Wakefield brokerage team of Director Julia Silva Rettig, Associate Jessica Mizrahi, Executive Managing Director Mike Davis, Associate Director Jared Bonshire and Senior Associate David Perez have begun leasing Building 200 on behalf a joint venture of Ridge Development and an institutional real estate partner. Lakeland Logistics Center, Polk County’s most-recent speculative cross-dock project, comprises two 245,000-square-foot warehouse and distribution buildings. Building 100 was delivered in early 2015 and fully leased by the team this spring. Development of Building 200 began in mid–2016. The site, located at 2011 Memorial [...]

By | 2018-05-03T14:30:14+00:00 June 22nd, 2017|In the News, Press Release|0 Comments

Cushman & Wakefield Releases Fourth Annual Central Florida Medical Office Report

Director Anne Spencer Published the Report with Cushman & Wakefield’s Healthcare Practice Group ORLANDO, FL, June 6, 2017 — Cushman & Wakefield announced today that it has released the 2017 Central Florida Medical Office Report, a comprehensive analysis of on- and off-campus medical office inventory in numerous hospital clusters located throughout Orange, Seminole, Osceola and Lake counties. Click to download the 2017 Central Florida Medical Office Report The fourth-annual report is published by Director Anne Spencer in conjunction with Cushman & Wakefield’s Healthcare Practice Group. It is the only report of its kind in the Central Florida region. Key take-aways from the most recent report include: Overall vacancy of medical office space in Central Florida has steadily decreased since 2011, falling another 2.8 percentage points over the past year to 6.0 percent. Spencer believes the trend will continue, and vacancies will fall further over the next year. Direct triple net asking rents for medical [...]

By | 2018-05-03T14:30:14+00:00 June 6th, 2017|In the News|0 Comments

Cushman & Wakefield to Lease 13 Buildings at SouthPark Center

Damien Madsen and Austin Johnston Named Exclusive Leasing Advisors for 13 of 15 Buildings in Orlando’s Premier 176-Acre Multi-Building Business Park ORLANDO, FL, May 26, 2017 — Cushman & Wakefield announced today that it has been named exclusive leasing advisor for 13 buildings at SouthPark Center, a master-planned business park that can accommodate up to 2.9 million square feet of Class A office space. SouthPark Center is considered to be one of Florida’s most successful master-planned business parks. Senior Associate Austin Johnston Managing Director Damien Madsen Managing Director of Office Brokerage Services Damien Madsen and Senior Associate Austin Johnston will lease 13 of SouthPark Center’s 15 buildings on behalf of a private institutional investor. SouthPark Center is a 176-acre office campus developed between 1998 and 2009. Buildings range from one to five stories and feature large floor plates, ample column-free space, state-of-the-art security systems and market-leading parking ratios. Select [...]

By | 2018-05-03T14:30:14+00:00 May 26th, 2017|In the News, Press Release|0 Comments

Cushman & Wakefield Negotiates $53.3M Multifamily Sale in Brevard County

Jay Ballard and Ken Delvillar Represented Flournoy Companies in its $53.3M Disposition of The Haven in West Melbourne WEST MELBOURNE, FL, May 22, 2017 — Cushman & Wakefield announced today that it has negotiated the sale of The Haven, a 336-unit Class A multifamily community in Brevard County. Cushman & Wakefield Senior Director Ken Delvillar Cushman & Wakefield Senior Director Jay Ballard Senior Director Jay Ballard and Senior Director Ken Delvillar of Cushman & Wakefield’s Orlando Capital Markets Multifamily Advisory Group represented Columbus, GA-based seller Flournoy Companies in the disposition. Irvine, CA-based investor Passco Companies, LLC acquired the asset for $53.25 million ($158,482 per unit). The Haven was developed in 2010 on a ±23.0-acre site at 4550 Explorer Drive. The community comprises a mix of one-, two- and three-bedroom apartments. The average unit is 1,115 square feet. At the time of sale, the average rent at The Haven was $1,217, and the property was 95 percent leased. Units [...]

By | 2018-05-03T14:30:14+00:00 May 23rd, 2017|In the News, Press Release|0 Comments

Cushman & Wakefield Negotiates Record Sale of Colonial Center at TownPark

The Capital Markets team of Mike Davis, Michael Lerner and Rick Brugge Represented a Fund Advised by DRA Advisors, LLC in Orlando’s Largest Brokered Suburban Office Portfolio Sale on Record LAKE MARY, FL, May 18, 2017 — Cushman & Wakefield announced today that it has negotiated the sale of Colonial Center at TownPark, a four-building, 662,320-square-foot, Class A office portfolio in suburban Orlando. Cushman & Wakefield Executive Director Rick Brugge Cushman & Wakefield Executive Director Michael Lerner Cushman & Wakefield Executive Managing Director Mike Davis The Capital Markets team of Executive Managing Director Mike Davis, Executive Director Michael Lerner, and Executive Director Rick Brugge represented a fund advised by New York-based DRA Advisors, LLC in the disposition of the asset. An affiliate of the Atlanta-based Brookdale Group acquired the buildings. This is the largest brokered suburban office portfolio sale in Orlando history, eclipsing the previous mark set by the November 2016 sale of Primera Towers, also [...]

By | 2018-05-03T14:30:15+00:00 May 18th, 2017|In the News, Press Release|0 Comments

Cushman & Wakefield Negotiates $4.1M Sale of Seminole Springs Office Center

Damien Madsen and Tommy Pinel Represented Springs Equity, Ltd. in the Disposition of the ±33,000-Square-Foot Longwood Office Building ORLANDO, FL, April 26, 2017 —Cushman & Wakefield announced today that it has negotiated the sale of Seminole Springs Office Center, a 32,975-square-foot office building in suburban Orlando. Senior Associate Tommy Pinel Managing Director Damien Madsen Managing Director Damien Madsen and Senior Associate Tommy Pinel represented seller Springs Equity, Ltd. in the disposition of the asset. Seminole Springs Office Center, LLC acquired the asset for $4.1 million ($124.34 per square foot). Seminole Springs Office Center is a three-story professional office building featuring classic red brick construction, bank space and drive-thrus as well as ample parking. The building is currently 65 percent leased. Notable tenants include Waste Pro, a waste services company with 75 offices throughout the Southeast that is headquartered at Seminole Springs Office Center. The building is located on a 1.75-acre site at 2101 West [...]

By | 2018-05-03T14:30:15+00:00 April 26th, 2017|In the News, Press Release|0 Comments