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Summit Real Estate Group has selected JLL to manage leasing for Hamilton Logistics Center, a new 318,000-square-foot facility located at 4141 Hamilton Road in Lakeland, the country’s fifth fastest-growing metro.
Construction is currently underway at the industrial park, which will feature two state-of-the-art buildings ranging in size from 135,000 to 183,000 square feet.
The JLL brokerage team of Executive Managing Director John Dunphy and Associate Olivia Brock will spearhead leasing efforts on behalf of the building’s ownership group, Summit Real Estate Group. Summit is an independent, industrial investment real estate company focused on opportunities within select U.S. markets. With over 25 years of experience, Summit has extensive expertise in land sourcing and entitlement, design and construction, equity and debt financing, leasing, and asset and property management.
“As demand for new, quality industrial product throughout the area continues to remain robust, Polk County has emerged as a top choice for occupiers and investors in manufacturing, distribution and logistics,” said Dunphy. “Thanks to its strategic location along one of the state’s major thoroughfares and the top-of-the line amenities, we feel confident a project like Hamilton Logistics Center will be well received and appeal to a variety of users across all sectors.”
To accommodate small to mid-size tenants, Building 100 at Hamilton Logistics Center will be 134,970 square feet with 36 dock high doors, a truck court depth of 135’, and 124 parking spaces. Directly south, Building 200 will span 182,985 square feet with 42 dock high doors, a truck depth of 190’ including 55’ trailer parks with 60 spaces, and 148 parking spaces. Both buildings will feature a clear height of 32’ with two drive-in ramps. Additional amenities at the park include rear-load configurations, tilt-wall construction, spec and build-to-suit office space, and 60’ speed bays.
Located in the heart of Polk County in the “I-4 corridor", Hamilton Logistics Center is situated in a well-known distribution hub, surrounded by nationally recognized companies. The property is 30 miles west of Tampa and 60 miles east of Orlando, providing future tenants the opportunity to benefit from an abundant labor pool.
Data from the Central Florida Development Council recognizes Polk County as Florida’s Best Place for Business, with advanced manufacturing being a high-growth industry. Additionally, according to JLL’s Q1 Industrial Insights Report for Polk County, demand in the area remains robust with asking rates posting 10.6% growth year-over-year.
Kelley and West represented the developer, Bavar Properties (Orlando Officenter, LLC) in numerous leases over the last 15 years.
Their latest development, Goldenrod Business Center, located at 6275 South Goldenrod Road in Orlando, is a 92,024-square-foot, dock-high office/warehouse building.
This first completed deal is for 25,590 square feet in Suite 900 (the building’s south end-cap space). The tenant, FHIA, LLC, is a home improvement company and was represented by Tommy Beecher of Savills, Inc.
"We are thrilled to have facilitated this significant lease, providing an ideal space for FHIA to continue their operations," commented Tom Kelley. “We have several lease negotiations and lease proposals ongoing and anticipate that we will sign additional new tenants in the near future,” he added.
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CBRE Capital Markets team has arranged the sale of a 192,654-square-foot office and industrial complex in Orlando.
Boca Raton-based Basis Industrial purchased the property from Miami-based B Group Capital Management for $25 million.
Ronald J. Rogg, Executive Vice President with CBRE in Orlando, represented the seller in the transaction.
Lakefront I & II features four single-story, free-standing buildings located at 6101-6251 Chancellor Drive in Orlando Central Park. The property includes a mix of light industrial, warehouse, flex, showroom, and office spaces. At the time of sale, the property was approximately 83.5% occupied by numerous high credit quality government and publicly traded companies.
“The sale of Lakefront I & II are a result of the timely execution of the investment parameters we set out to accomplish when we purchased the property. This sale emphasizes the strategic disposition program that was set in motion post-pandemic to strengthen our growing portfolio,” said B Group Capital Management Chief Executive Officer Sebastian Barbagallo, who along with Franco Barbagallo, Chief Operating Officer, represented the ownership entity’s investors in the transaction.
B Group Capital Management specializes in strategic asset management through investor relations, deal and lender structuring, along with property acquisition and repositioning as a subsidiary of B Group Holding Company, a family-owned real estate conglomerate that has acquired, improved and managed Class A and Class B office buildings and warehouse buildings across 16 properties in five different cities across Florida, Georgia, and North Carolina. B Group, through its parent company B Developments, also develops, acquires, and repositions multifamily assets throughout the Southeastern United States.
Basis Industrial was represented by Anthony Scavo, Ahmad Elayyan, and Jay Massirman.
Basis Industrial has combined over 100 years of real estate experience with over $5 billion in invested capital spread among 15 million square feet of industrial real estate.
“We welcome Todd to CBRE and look forward to his success as he leans in to increase the Orlando agency portfolio through strategic pursuits and his strong client relationships,” said Jim Gray, CBRE Managing Director and market leader for Orlando.
Prior to joining CBRE, Davis was a member of the Cushman & Wakefield platform for five years, representing strong institutional and private capital ownership groups throughout Orange and Seminole Counties. During that time, he grew their portfolio from approximately 200,000 square feet to over 2.5 million square feet.
Davis achieved the Certified Commercial Investment Member (CCIM) designation in 2002 and the Society of Industrial and Office Realtors (SIOR) member in 2015.
CFCAR Member Rick Gonzalez, CCIM, ALC of SVN | Saunders Ralston Dantzler sold 2 acres at the intersection of Orange Avenue and Abrams Road in Eustis, FL for $1,200,000.
This sale is the result of face-to-face networking efforts that pay back multiple times over many years.
This area continues to grow at a rapid pace since completion of the Wekiva Parkway.
Source: FLCCIM
Ron Osborne, Managing Director/Broker of Sperry - RJ Realty, represented the Buyer, GCDC Orlando LLC, in the purchase of a medical office located at 4980 E Irlo Bronson Memorial Highway in St Cloud.
PD ST. CLOUD LLC sold the medical office building for $5.3 million.
The newly constructed build-to-suit property was built for Sanitas Medical Center, which currently occupies the property. The Tenant signed a 10-year lease with over 9 years remaining with an annual increase at the time of the sale.
Sanitas operates 6 other locations in greater Orlando and has 68 medical facilities throughout Florida, Texas, Tennessee, Connecticut, and New Jersey.
Osborne also arranged for the financing of the acquisition with FirstBank Florida. Jeff Goldstein, Vice President, Business Relationship Officer, represented FirstBank Florida in the transaction, with 50% down at an attractive interest rate of about 7%. Osborne has a long-standing relationship with FirstBank Florida along with other lenders.
“Obtaining financing for a nonresident buyer is extremely difficult without them having a permanent residence in the United States,” stated Osborne. “We have been very successful in helping our client obtain loans from different lenders.”
Osborne stated that the Buyer is still looking for great opportunities to acquire additional assets this year.
“They must be in a major MSA with a cap rate over 7.5%+ or approaching it with annual rent increases,” Osborne explained. “With the more normalized interest rates of 7 to 8%, both developers of STNL properties are adjusting their offerings prices to meet the buyer’s expectations of being able to purchase a property and obtain a reasonable amount of leverage,” he added. “The days of 4 to 5% cap rates are coming to end. Developers need to develop in order to stay in business and recognize that as their construction loans are coming due, they will need to meet the market demands.”
The property was represented by Jeffrey Cicurel with JLL’s Miami office.
Top CRE pros and business leaders are celebrating innovation, achievement, and excellence at the 2024 Annual HALLMARK AWARDS, which honors the region’s commercial real estate highest producing brokers and brings the award ceremony back to downtown Orlando.
“We will be awarding the Strickland Lifetime Achievement for 2024 to Yvonne Baker, Executive Director FSU Real Estate Center at Florida State University and we couldn’t be prouder to honor this Central Florida Icon,” explains Sharisse Walton, 2024 HALLMARK Awards Committee Chair. “We are also excited to introduce a new event format and venue this year -- The HALLMARK AWARDS event will take place from 5 to 7 pm. on Wednesday, July 24, 2024, at The Great Southern Box Co. Food Hall.”
The Annual HALLMARK Awards event is presented by the Central Florida Real Estate Association (CFCREA)in association with the Central Florida Commercial Association of Realtors® (CFCAR). Walton stresses that this years’ event is sure to offer some unique insights into Orlando’s historic Packing District. The Great Southern Box Co. Food Hall is a 13,000 SF adaptive reuse building that was originally a warehouse space used by Dr. Phillips’ citrus company. It has over ten food vendors, two outdoor patios, a 5,000+ SF event space, and a micro-brewery still in the works.
Led by Dr. Phillips Charities, the development of the site represents an opportunity to celebrate the history of The Packing District and look toward the future of the community, the city and the region. The district’s master plan has been designed to encourage community wellness from the development of a new regional park to the network of plazas – each connected by pedestrian and bike trails that stitch everything together.
“As always, the HALLMARK Awards event will honor the top commercial real estate producers for in 2023 in the Greater Central Florida market by recognizing innovation, extraordinary production and industry leadership in Alachua, Brevard, Flagler, Lake, Marion, Orange, Osceola, Seminole, Sumter, and Volusia Counties. In addition to recognizing top producers in numerous categories and across the different counties, special awards will also be announced for Community Service and Deal of the Year,” Walton continued.
For the second year, HALLMARK Award Sponsorships and Awards Submission process have been simplified. They are once again accepting applications for both ONLINE via their website at https://cfcar.net/2024-hallmark-awards.
Rafael Mendez, CCIM, 2024 CFCAR President, invites business leaders to join top brokers to the event. “We look forward to seeing you in July at The Great Southern Box Co. Food Hall to celebrate HALLMARK!”
CLICK HERE TO APPLY FOR A HALLMARK AWARD
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