Dalfen Industrial, a leading owner and operator of industrial real estate, has further solidified its presence in Florida with the acquisition of a fully leased industrial property in Orlando.

The Orlando property is a 35,100-square-foot facility strategically located in Orlando Central Park, one of the most sought-after industrial submarkets in the region. With immediate access to major transportation arteries, including I-4, the Florida Turnpike, and SR-528 via John Young Parkway, the property boasts exceptional connectivity. Its location has attracted a diverse tenant base and is surrounded by top-tier occupiers such as Iron Mountain, Mitsubishi, Walgreens, and Publix.

This off-market acquisition is part of Dalfen’s strategic focus on high-demand markets and mid-sized tenant spaces ranging from 20,000 to 50,000 square feet. The transaction was sourced through the Industrial Capital Markets Team at Colliers.

CFCAR Member and Annual Sponsor Paul P. Partyka, CCIM, MiCP, CIPS, Partner at NAI Realvest announced a new lease and a renewal lease for industrial tenants located in the Sanford Airport, while representing the landlord, the Sanford Airport Authority.

Cosmac Inc. d/b/a TLC Electric has leased 1,500 square feet of industrial space located at 2830 S. Mellonville Avenue, Building 515-4. TLC Electric is a full-service electrical contractor for Sanford and Orlando area, providing quality, state-of-the-art, residential new construction electrical expertise.

Concurrent Utility Service, LLC, (formerly Concurrent Group LLC) renewed 7,940 square feet of industrial space and 21,361 square feet of land located at 2774 Carrier Avenue, Building 141. Concurrent is a general contractor founded by industry professionals with experience in the fields of electrical contracting, utility construction/maintenance and storm restoration.

"Sanford Airport’s ongoing growth continues to make it a prime location for businesses," said Paul. "We’re seeing this trend reflected in the lease renewals from our industrial tenants. The airport’s strategic position, combined with expanding infrastructure and services, creates an ideal environment for companies to thrive."

A Louisiana-based foundation has acquired a key asset from the University of Central Florida (UCF).

Provident Resources Group, headquartered in Baton Rouge, purchased the UnionWest building located at 601 W. Livingston St. in Orlando's Creative Village for $126 million, as confirmed by Orange County records.

The deal closed on December 19.

Previously, the UnionWest building was owned by Creative Village SHP Owner LLC, a joint venture between student housing developer Deven and Ustler Development Inc., the company behind the Creative Village project.

The 15-story, mixed-use structure, which opened in 2019, serves as the primary facility for UCF's downtown campus and also provides academic resources for Valencia College. The top 10 floors contain 121 dormitory units, offering 641 beds, while the ground floor features six retail suites spanning 12,302 square feet. Additionally, the property includes a 602-space parking garage.

Craig Ustler, president of Ustler Development, shared with the Orlando Business Journal that his company held on to the UnionWest property longer than expected due to challenges posed by the COVID-19 pandemic, which began soon after the building opened in 2020.

"We did not anticipate this kind of challenge so early in our operations, but we navigated it as best we could," Ustler said, noting that student activity has just returned to pre-pandemic levels.

The building can accommodate up to 7,000 students.

The sale was off-market, with Ustler's company directly negotiating with Provident.

"We were familiar with Provident. They're a leading player in the industry and the most prominent nonprofit student housing owner in the U.S.," Ustler explained.

Founded in 1999, Provident has developed thousands of student housing units across 27 states, including NorthView, an eight-story facility near UCF’s main campus in east Orlando. Provident’s chairman and CEO, Steve Hicks, mentioned that the company has a strong presence in Florida, citing projects in Tampa Bay, Gainesville, and South Florida. He emphasized that Florida’s population growth and the distances between universities have made the state an attractive destination for student housing developers.

The deal comes with a special stipulation: while Provident now owns the building, the land was donated back to the UCF Real Estate Foundation. The foundation then leases the land back to Provident, making Provident the owner of the building with an underlying ground lease. Once the bonds tied to the property mature in 35 years, UCF will take ownership of the building.

Source:  OBJ

Colliers | U.S. has arranged the sale of Casselberry Exchange, a rare value-add shopping center in Orlando, for an undisclosed amount.

Colliers represented funds managed by affiliates of Apollo in the sale of the property, located at 5803 US Highway 17-92 in Casselberry, approximately 12 miles north of Orlando, to RD Management.

Casselberry Exchange is a 125,538 square foot shopping center situated at the dominant intersection of SR-436 and SR-17/92 (121,000 combined VPD) with strong surrounding demographics as more than 93,000 people live within 3 miles earning average household incomes exceeding $93,500. The Property features several single tenant and strip center outparcels with prime positioning and frontage at signalized intersections, leased to national tenants including Starbucks, Einstein Bagel Bros, Fresenius Kidney Care, Amscot, and Little Caesars. There are three vacant anchor boxes totaling 83,497 square feet of highly leasable space, along with a former 7/11 gas station outparcel, that created a rare value-add opportunity with redevelopment potential for the buyer.

The Property shares direct access with the 336-unit Sole at Casselberry luxury apartment complex, owned by Nuveen.

The Colliers team representing the seller was led by Brad Peterson and Whitaker Leonhardt.

“It is a rare find anywhere in central Florida to present a true value-add, repositioning of an anchored shopping center,” according to Peterson. “The story of the asset and upside opportunity was truly unique and led to tremendous investor interest for the asset.”

NAI Realvest CEO Patrick Mahoney announced that Mary Frances West, CCIM has been promoted to Senior Vice President. 

Mary Frances West focuses primarily on office and industrial landlord and tenant representation.  Mary Frances is well known and valued for her work ethic and integrity.  As a result, she has an outstanding record of retaining her clients long-term.  She has represented some landlords for well over 20 years, which is rare in the commercial real estate industry.   

Mary Frances has closed deals for several million square feet of space and is regularly named a Monthly Top Producer at NAI Realvest.    

"Mary Frances’ dedication and drive are showcased by the number of transactions she closes. Her ability to maintain long-term relationships with her clients is a key factor in her success" said Patrick Mahoney, CEO.  “She richly deserves this promotion.” 

Miller Construction Company, a statewide, privately-held construction firm, has started work on a $20-million custom manufacturing plant in Ocala for Boyd-Mox Development LLC, in partnership with WBS Equities.

Delivery of the 148,605-square-foot project at 2399 NW 35th St., for Antebellum Manufacturing, LLC, is expected to be completed early next year.

Miller’s preconstruction process and inspection revealed three sinkholes that posed a problem on-site. The team quickly devised a solution and used pressure grouting to create a structurally sound subgrade to support any building on the site. The process solidifies the earth by pumping filler into empty spaces. Grout is delivered first to the lowest unstable level, allowed to set, and then applied in layers up to the construction level.

“We devoted special time and care to ensuring the subgrade was solid, giving our client peace of mind during construction,” said Brian Sudduth, President of Miller Construction. “We have previously worked with Boyd-Mox and are excited to deliver this project in Ocala and continue our strong relationship.”

When completed, the build-to-suit manufacturing facility will have tilt walls reinforced with structural steel supports. Inside, the structure will be equipped with 53 columns, spaced 54 by 50 feet apart that will support the 32-foot clear-height ceiling. The building will have eight loading docks and 96 parking spaces.

“We continue to contract with Miller Construction because of its professionalism and on-time project delivery,” said Boyd-Mox Development CEO Rachel Gibbs. “We feel confident in the team and their ability to solve any issues that may arise during the construction process.”

Antebellum Manufacturing has outgrown its current building and is excited to move into the new build-to-suit facility. The new set up will allow for more efficient movement of materials, an ease of management and a better environment for employees.

“With this project, the People of Antebellum Manufacturing, LLC will be able to quadruple our capacity while increasing efficiency at a massive scale,” said Chris Boyd, CEO of Antebellum Manufacturing. “In an ever-changing market, we have found that domestic manufacturing with domestic materials is experiencing a bit of a renaissance and this new facility puts us in the front seat to take advantage of that.”

The project teams include Horton, Harley & Carter (architecture), Colwill Engineering (MEP), Richard Adams Engineers & Consultants (structural) and Kimley-Horn (civil).

JLL announced the appointment of Nathan Eissler as Executive Vice President in the company’s Central Florida office.

Eissler, who joins JLL from Avison Young, brings more than 14 years of experience in commercial real estate, specializing in office tenant representation. Based in Orlando, Eissler has completed over 700 transactions throughout the region and has built a reputation for delivering exceptional results for his portfolio of clients.

In his new role at JLL, Eissler will leverage his extensive knowledge of the Central Florida office market and his deep expertise in office tenant representation to drive growth and strengthen JLL’s office tenant representation services in the region. His addition is part of JLL's continued commitment to expanding its tenant representation platform and enhancing its office brokerage team in the Central Florida market.

“We are thrilled to welcome Nathan, or Nate as many know him, to our team of real estate professionals serving Central Florida,” said LaShawn Bates, JLL’s Executive Director of Brokerage for North and Central Florida. “Nathan’s successful track record, his strong relationships across the local market, and his ability to navigate complex office leasing transactions will make him a valuable asset to our team. His proven market knowledge and leadership will help us continue to provide strategic counsel and real estate solutions to meet the evolving office space needs of businesses in Central Florida.”

While Eissler has built a distinguished career by helping clients secure optimal office space solutions, his  success goes beyond his transactional achievements. He is deeply involved in the commercial real estate community, serving in leadership roles including as past president of the CCIM Central District Chapter, a NAIOP Central Florida board member, and NAIOP Central Florida case competition chair. He is also a Society of Industrial and Office Realtors (SIOR) designee, recognizing him as one of the top brokers in the industry.

A graduate of the University of Central Florida, Eissler is committed to giving back to the community through mentoring, industry involvement, and supporting the next generation of real estate professionals.

“I am excited to join JLL and build upon my extensive experience and network in office tenant representation to provide innovative solutions  to our business clients  across Central Florida,” Eissler said . “JLL’s collaborative culture, entrepreneurial spirit, and client-centric approach were key factors in my decision to join the firm and I look forward to contributing to our team’s continued success over the years to come.”

 

Cushman & Wakefield arranged the $15,200,000 sale of Northpark Commerce Center, a three-building light industrial commerce park totaling 148,882 square feet in Orlando.

Rick Colon, Rick Brugge, Mike Davis, and Dominic Montazemi of Cushman & Wakefield represented the seller, HH NorthPark Commerce LLC, in the transaction. The property was acquired by Greg Zeifman of Z Asset Management Corporation.

“Northpark Commerce Center featured a diversified mix of suite sizes, loading options, and product type, including retail space with frontage along a highly trafficked hard corner. This offering was well received by the market and generated substantial investor interest,” said Colon, Senior Director at Cushman & Wakefield.

Northpark Commerce Center was built in 1985 and 90% leased at the time of sale by a diverse group of tenants in the healthcare, insurance, financial services, and entertainment industries. The property consists of three buildings located at 6325, 6333, and 6363-6377 N Orange Blossom Trail with features such as a mix of grade-level and dock-high loading; suite sizes ranging from 1,000 to 80,000 square feet; and a variety of space types that appeal to industrial, retail, and office users.

Located 3.5 miles from I-4 and directly off U.S. Route 441, Northpark Commerce Center is also strategically positioned within the Apopka/Silver Star submarket, surrounded by numerous densely populated commercial projects and residential neighborhoods.

 

JLL announced that Pennsylvania-based PeopleOne Health has selected the firm to spearhead leasing efforts for the healthcare company’s expansion plans into the Florida market. PeopleOne Health has opened three new locations in the Central Florida area this year, with two additional locations slated to open by the end of this year.

The JLL brokerage team of Managing Director Lucia Hedke and Associate Justin Simakas handled all lease transactions for the company.

PeopleOne Health was founded with a simple notion – to keep people healthier. Funded by employers, the model delivers a wide range of prevention and treatment services for both physical and mental health needs. Led by top-tier doctors, their medical care teams focus on each member and guiding them towards a happy, healthier life.

"Orlando is experiencing a significant rise in demand for innovative healthcare solutions, making it a pivotal market for healthcare companies looking to expand into the Sunshine State,” said Lucia Hedke, JLL Managing Director. “PeopleOne Health's commitment to delivering personalized, accessible care aligns with the evolving needs of the Central Florida community, which continues to grow and is made up of a significant aging population.”

PeopleOne Health tackles rising healthcare costs by emphasizing preventive care, which minimizes the need for costly procedures, medications, and chronic condition management. Fully employer-funded, it provides employees with personalized care from top healthcare professionals, with no copays, deductibles, or coinsurance. This approach not only ensures quality care without financial barriers but also helps employers attract and retain talent while cutting healthcare costs by up to 30%. PeopleOne Health focuses on partnering with forward-thinking employers and establishing centers in underserved areas, where access to quality primary care is limited.

"Our expansion into new locations is not just about growth; it's about our commitment to revolutionizing healthcare delivery,” said Dean Hatcher, President of PeopleOne Health. “We believe that everyone deserves access to high-quality, affordable care that prioritizes their wellbeing. By extending our reach, we can empower more individuals with the tools and support they need to lead healthier lives. Our mission is to create a healthcare system that works for people, and this expansion is a vital step in making that vision a reality."

RosenCare, established by Harris Rosen of Rosen Hotels and Resorts, is partnering with PeopleOne Health in their expansion efforts in Florida. The partnership’s first two locations included a collaboration with local public entities offering primary care, pharmacy, and mental health services to the tens of thousands of employees and their families of Putnam County Government and Orange County Public Schools, respectively.

In its initiative to open in healthcare deserts, PeopleOne Health’s inaugural Florida health center opened earlier this year in rural Palatka, FL, located at 6100 Saint Johns Ave, which quickly attracted close to 400 members from the Putnam County Government (a 30% enrollment rate). Its latest health center opened at 207 W. Gore Street in Orlando in September to serve employees of Orange County Public Schools, occupying 2,500 to 5,000 square feet of space.

Additional Orlando-area health centers will open later this year, impacting thousands of lives. Locations include:

• 5840 W. Colonial Drive
• 7350 Sandlake Commons Blvd.
• 5449 S. Semoran Blvd.

According to JLL’s Q1 Medical Office Building Report, the market has recorded positive absorption for the last five years showing signs of consistency and strong tenant demand. Population growth and an aging demographic are significant factors behind Orlando’s thriving healthcare sector. As the population ages, there is a rising demand for specialized medical care and facilities. Additionally, Orlando's status as a major tourist and hospitality destination are also contributing factors highlights the importance of an increasing need for medical services.

Congratulations to CFCAR Annual Sponsor Chris Cucci, CCIM, EVP | Chief Strategy Officer, with Climate First Bank!

Climate First Bank was awarded Tearsheet’s Bank Lender of the Year for its exceptional growth and dedication to impact-driven finance.

Surpassing $850 million in assets in just over three years, it stands as the fastest-growing new U.S. bank since 2009.

Climate First Bank strategically invests in community initiatives such as renewable energy, affordable housing, and worker-owned cooperatives.

Through a partnership with OneEthos, the bank has originated over $150 million in solar lending within two years, setting a high standard in sustainable financing and filling critical market gaps left by larger institutions.

Source:  Tearsheet