Middle Market Digest: This Week in Florida

ORLANDO, FL—It’s a record sale. Cushman & Wakefield negotiated the $47.9 million sale of LeeVista Business Center, a 479,100-square-foot warehouse and distribution portfolio next to Orlando International Airport. At $100 per square foot, the disposition achieved record per-square-foot pricing for an Orlando multi-tenant warehouse and distribution facility. CushWake executive director Mike Davis, senior director Michael Lerner and senior director Rick Brugge represented Atlanta-based McDonald Development Company in the disposition. Los Angeles-based Colony Capital acquired the asset. “This portfolio had all the attributes that discerning investors covet including high-quality construction, credit tenants, limited near-term rollover and an outstanding location adjacent to Orlando International Airport,” says Lerner. “As a result, the offering was hotly contested, and our client was able to achieve premium pricing.”

MIAMI—Elysee will debut as the first wellness multifamily residential development in Miami. Founded by real estate industry veterans Robert Thorne and Perla Machaen, Wellness Habitat Company is South Florida’s first wellness real estate company specializing in developing and transforming indoor living spaces into healthy habitats.  “We spend billions of dollars annually worldwide on products and services to improve our health, stay fit and prevent illness, yet after going to a med spa or picking up an organic juice, we spend 90% our time in our own homes where elements from floor to ceiling can have adverse effects on mental and physical wellbeing,” says Robert Thorne, CEO, Wellness Habitat Company. The 57-story tower in Miami’s Edgewater neighborhood will incorporate a selection of The Wellness Habitat Company’s healthy indoor habitat solutions in residences and common areas, including the lobby, the health club and activity floor and the 30th floor owner’s sky lounge.