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The project, which is expected to begin construction this month, will renovate the existing Riverside Center building and add nearly 20,000 square feet, increasing the building's size to 54,000 square feet.
The firm intends to construct three buildings: Building 100 – 104,950 square feet, Building 200 – 145,164 square feet and Building 300 – 402,582 square feet. Groundbreaking on the project is expected later this month.
The deal for the Plantation at Walden Lake community is a value-add play for the new owner—Bridge Investment Group, according to Cushman & Wakefield, which represented the seller in the transaction.
The new Orlando office is expected to begin operations this summer. Foy joins Passco as an investment manager and most recently served as a senior regional manager with Greystar.
The developer broke ground last week on the 519-room JW Marriott hotel, which will be one of three hotels that will anchor the Water Street Tampa development, one of the largest downtown development projects taking place in the nation.
The 29-story Margaritaville Resort, brand inspired by the lyrics and lifestyle of singer, songwriter and best-selling author Jimmy Buffett, is to be developed by Sharif El-Gamal's Soho Properties in partnership with Chip and Andrew Weiss and MHP Real Estate Services.
The private equity firm signed a 10-year lease for 13,460 square feet of space on the 16th floor of the 17-story building at 150 Second Ave. North in Downtown St. Petersburg.
The facility's surroundings feature a strong demographic profile for storage with a high amount of renter-occupied housing units in the flourishing Augusta market.
The hotel is part of the multi-phased Water Street Tampa development project that will include more than 9 million square feet of commercial, residential, hospitality, educational, entertainment, cultural and retail space on 50 acres.