Early this week in Florida saw action in key markets across the state. Miami Worldcenter is also reporting some significant news.

BY THE NUMBERS

JACKSONVILLE, FL—Job creation by logistics and health-related companies will push the area's unemployment rate below 4% in 2017. Overall, the metro's total employment base will expand at a slower pace, 0.7%, on the addition of 5,000 positions. (Source: Marcus & Millichap)

NEWS & NOTABLES

MIAMI—Jeffrey Sobel, president of Boca Raton-based development company SobelCo, tapped Douglas Elliman Development Marketing to spearhead sales and marketing for Galleria Lofts, a collection of 48 contemporary, luxury townhomes offering in East Fort Lauderdale. Seasoned real estate professionals Gigi Giusti and Joanna Berg will serve as on-site developer sales executives for the property. Twenty-two residences are sold. Immediate residences are available, with the rest delivering in February 2018.

DEAL TRACKER

JACKSONVILLE, FL—The Shopping Center Group brokered the sale of Regency Court, east of Downtown Jacksonville. The Shopping Center Group's investment sales team, led by its directors Anthony Blanco and Lynn De Marco, represented a special servicer in this transaction that was finalized last month. The team utilized RealINSIGHT Marketplace, an auction platform for commercial real estate transactions. An entity affiliated with Virginia-based Mishorim USA acquired the 220,000-square foot retail center for $5 million.

PEMBROKE PINES, FL—Cushman & Wakefield negotiated the sale of Pembroke Pointe 880, a 143,535-square-foot class A office building Broward County. The Cushman & Wakefield Capital Markets team of Scott O'Donnell, Mike Davis, Michael Lerner, Dominic Montazemi, Miguel Alcivar, Greg Miller and Rick Brugge represented Duke Realty in the disposition. Pembroke Pointe Office, an affiliate of Miami-based Midtown Capital Partners, acquired the asset. Jason Hochman of Cushman & Wakefield's international Equity, Debt and Structured Finance (EDSF) platform assisted in securing a $22.7 million, long-term acquisition loan on behalf of the buyer.

FORT LAUDERDALE, FL—Optimal Wireless, an authorized Cricket Wireless retailer with business operations throughout the Central and Southeastern United States, is planning to open a new store at Miller Plaza in Miami. The new store will be located at 5697 SW 137 Avenue. Berger Commercial Realty/CORFAC International sales associate Lawrence Oxenberg negotiated the wireless retailer's 36-month lease for 1,200 square-feet of retail space with landlord Miller Plaza, Limited. Notable tenants in the shopping center include Firestone, 7-11, Checkers, Rent-a-Center, Subway and others.

TAMPA, FL—HFF brokered the acquisition financing for two in-fill business parks comprising 14 buildings and 332,207 square feet in Tampa. HFF team worked on behalf of the borrower, Citimark to place the acquisition financing with JP Morgan Asset Management for the benefit of its institutional clients. The portfolio comprises Pioneer Industrial Park and Sunstate Industrial Park, both located in Tampa's Westshore/Airport submarket, which is considered the tightest industrial submarket in the Tampa MSA. Both parks are in an infill area just north of Tampa International Airport. Pioneer Industrial Park is situated on 9.603 acres at 5402, 5410, 5412, 5420, 5440 and 5444 Pioneer Park Boulevard.

BUILDING BLOCKS

MIAMI—PARAMOUNT Miami Worldcenter officially reached the halfway mark in its vertical climb to 60 stories. Known as the most amenitized building in the country and with over 48 nationalities represented among its buyer pool, PARAMOUNT is now 30 stories tall and on course for its top off in summer 2018, and building completion anticipated for the first quarter of 2019. Earlier this year, PARAMOUNT reached another new high, closing a $285 million construction loan—among the largest on record for a new condominium tower in the City of Miami.

Instant Insights /

Middle Market Digest: Early This Week in the Southeast

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