Cushman & Wakefield Negotiates Sale of Former Golf Course where 1M-SF Industrial Facility will be Developed

Developers Transwestern Development Co. and Crow Holdings also have Retained Cushman & Wakefield to Lease for the I-4 Corridor Property LAKELAND, FL, December 5, 2018 – Cushman & Wakefield has negotiated the sale of a 183.5-acre former golf course site in Lakeland, which will be redeveloped into a Class A industrial project totaling over 1 million square feet. Transwestern Development Co. in partnership with Crow Holdings acquired the property and will break ground on the speculative industrial project in January 2019. The developers retained the Cushman & Wakefield Industrial Leasing team of Senior Director Jared Bonshire and Senior Director David Perez, based in Orlando, along with Senior Director Julia Silva of Tampa. Bonshire and Perez, along with Director Andrew Slowik and Senior Director Margery Johnson, of Cushman & Wakefield’s Land Advisory Group, negotiated the sale of the property on behalf of the seller. Called University Park at Bridgewater, the facility [...]

By | 2018-12-12T11:14:25+00:00 December 12th, 2018|In the News, Press Release|0 Comments

Cushman & Wakefield Promotes Mike Agnew to Lead Florida Asset Services

A 25-Year Veteran of Cushman & Wakefield, Agnew Will Oversee the Firm’s Statewide Asset Services Operation Encompassing Over 40 Million Square Feet FLORIDA, December 10, 2018 – Cushman & Wakefield is pleased to announce that Mike Agnew will now serve as Senior Managing Director of Asset Services in Florida. With this promotion, Agnew will oversee the firm’s statewide Asset Services operation, which employs 260 professionals and currently encompasses 327 office, industrial and retail properties comprising more than 42 million square feet of space. Agnew brings 25 years of experience with Cushman & Wakefield to this new position. He has served in leadership roles with the firm’s Asset Services division for the majority of his career, demonstrating proven excellence in helping clients maximize property value and achieve their long-term real estate goals. “In my career I have had the honor of seeing Cushman & Wakefield evolve into a leading commercial real [...]

By | 2018-12-10T11:03:09+00:00 December 10th, 2018|In the News, Press Release|0 Comments

Cushman & Wakefield Named Exclusive Agent for The DeSota in Downtown Sarasota, FL

Rare Opportunity to Acquire a Premier Apartment Community on Florida’s West Coast SARASOTA, FL, November 29, 2018 - Cushman & Wakefield, as exclusive marketing agent, has the launched the marketing campaign for The DeSota, a recently completed, condo-quality apartment community in downtown Sarasota. Atlanta-based Carter, one of the country’s leading real estate investment, development and advisory firms, along with Hunt Companies of El Paso, Texas, co-developed the luxury rental property, completing construction in March 2018. The marketing team for The DeSota will be led by Senior Director Brad Capas, Senior Director Luis Elorza and Vice Chairman Robert Given of Cushman & Wakefield’s Florida Multifamily Investment Sales Team. “The DeSota offers investors the rare opportunity to acquire one of the highest-quality and most exclusive rental communities in Florida,” said Capas. “Superior concrete construction, luxuriously appointed units and an extensive array of resort-style amenities differentiate The DeSota, setting a new standard for [...]

By | 2018-11-29T16:12:05+00:00 November 29th, 2018|In the News, Press Release|0 Comments

Cushman & Wakefield Arranges Sale of SkyHouse Channelside in Downtown Tampa for AVR Realty

Transaction Underscores Strong Investor Appetite for Core-Plus Multifamily Properties in the South-Eastern United States TAMPA, FL, November 19, 2018 — Cushman & Wakefield’s Florida Multifamily Group has negotiated the sale of SkyHouse Channelside, a 320-unit, trophy apartment community in downtown Tampa. Senior Director Luis Elorza, Senior Director Brad Capas and Vice Chairman Robert Given represented New York-based AVR Realty Company in the disposition. The buyer is an entity led by Willner Realty & Development Company, a privately held real estate investment company headquartered in Pennsylvania. This is Willner Realty’s fourth multifamily acquisition brokered by Cushman & Wakefield in the Tampa Bay area. Completed in August 2015, SkyHouse Channelside is a 23-story, luxury high-rise tower with sweeping city and water views; an expansive 567-space parking garage; and 6,482 square feet of ground-floor retail. Units range from studio to three-bedrooms and average 794 square feet. At 112 N. 12th St., the property [...]

By | 2018-11-19T16:27:22+00:00 November 19th, 2018|In the News, Press Release|0 Comments

Cushman & Wakefield Arranges $49.7 Million Sale of Mosaic at the Forum Apartments in Fort Myers

Transaction Underscores Strong Investor Appetite for Southwest Florida Multifamily Properties FORT MYERS, FL, November 9, 2018 — Cushman & Wakefield’s Florida Multifamily Group has negotiated the sale of Mosaic at the Forum, a 252-unit, newly constructed apartment community in Fort Myers, Florida. The property sold for $49.7 million or $197,321 per unit, marking Cushman & Wakefield’s second Class A apartment sale in Fort Myers this year. Senior Director Brad Capas, Senior Director Luis Elorza and Vice Chairman Robert Given represented St. Petersburg, Florida-based Mosaic Development in the transaction. Mosaic Development has multifamily development ongoing throughout southwest Florida, Tampa and Orlando. The buyer is an entity led by InvestRes, a privately held real estate investment company with multifamily assets throughout Florida and several other states. InvestRes has a Florida headquarters in Tampa. Completed in December 2017, Mosaic at the Forum, which was managed by Incore Residential, experienced a rapid lease-up and was approximately 95 percent occupied at the time of sale. The gated [...]

By | 2018-11-16T11:53:08+00:00 November 16th, 2018|In the News, Press Release|0 Comments

Cushman & Wakefield Arranges 12,000-SF Lease with Old Republic Title at SunTrust Financial Center in Fort Myers

The 60,264-SF, Class A Office Building at College Parkway is Now 88 Percent Occupied FORT MYERS, FL, October 30, 2018 – Cushman & Wakefield has arranged a 12,000-square-foot lease at SunTrust Financial Center with Old Republic Title. The 60,264-square-foot, Class A building is situated at 12751 New Brittany Blvd., at the intersection with College Parkway in the desirable South Fort Myers submarket. Cushman & Wakefield Managing Director Jason Donald, along with SunTrust First Vice President Thomas Crociata, represented SunTrust, which owns and anchors the building, in the lease negotiations. Cushman & Wakefield Director Alex Beacham represented Old Republic Title, a Tampa, Florida-based title insurance company that provides comprehensive title and escrow products and services for individuals, businesses and government entities. The company is relocating its Fort Myers office from 4315 Metro Parkway. SunTrust Financial Center was built in 1997 and offers frontage and visibility from College Parkway, one of Fort [...]

By | 2018-11-01T13:59:06+00:00 November 1st, 2018|In the News, Press Release|0 Comments

Cushman & Wakefield Arranges Sale and Financing of Iconic Tampa City Center

A Partnership Between Affiliates of Banyan Street Capital and Oaktree Acquired the 38-Story, Class A, Downtown Tampa Office Tower for $110M from an Affiliate of Alliance Partners HSP TAMPA, FL, October 19, 2018 – Cushman & Wakefield has arranged the sale and financing of Tampa City Center, a 38-story, 757,425-square-foot office tower in downtown Tampa. The Class A property sold for $110 million to a partnership between affiliates of Banyan Street Capital and funds managed by Oaktree Capital Management L.P. (“Oaktree”). Banyan Street Capital is a Miami-based firm that owns and operates premier office assets in multiple markets in the eastern United States. Oaktree is a leading global alternative investment management firm, which invests in real assets as one of its four main strategies. The Cushman & Wakefield team of Vice Chairman Mike Davis, Executive Director Rick Brugge and Executive Director Michael Lerner represented an affiliate of Alliance Partners HSP, [...]

By | 2018-10-23T13:55:24+00:00 October 23rd, 2018|In the News, Press Release|0 Comments

Cushman & Wakefield’s Midyear Multifamily Report Cites Record Pricing, Deliveries in North and Central Florida

Experts Anticipate New Construction to Slow as Demand Catches Up With Supply, Although Population and Job Growth Will Continue to Bolster Multifamily Sector TAMPA, FL, September 11, 2018 – Cushman & Wakefield has released a midyear report on the North and Central Florida multifamily markets. Authored by the firm’s Florida Research Team, the report examines how such factors as the region’s dynamic population growth and strong labor trends affect multifamily real estate in the Tampa Bay, Orlando and Jacksonville markets. Over the past decade, these three regions have been some of the most active in Florida in terms of apartment demand, which was fueled by elevated gains in population. During this cycle, absorption continuously exceeded new supply and led to some sharp declines in vacancies even as the number of new units delivered annually increased. Currently, supply has started to catch up with demand, with absorption rates softening slightly as [...]

By | 2018-09-11T15:45:36+00:00 September 11th, 2018|In the News, Press Release|0 Comments

Cushman & Wakefield Negotiates $27M Sale of Redeveloped Tampa Shopping Center

Five RE Tampa Bay Center, LLC Sold the 142,350-SF Retail Property to Equity Management Partners, Inc. TAMPA, FL, AUGUST 28, 2018 – Cushman & Wakefield has negotiated the sale of Tampa Bay Center, a 142,350-square-foot urban infill shopping center in Tampa’s Westshore Business District. Anchored by Ashley HomeStore and Floor & Décor, the property is considered a best-in-class retail center with diverse internet-resistant tenancy. The Cushman & Wakefield team of Managing Director Jason Donald, Managing Director Patrick Berman and Associate Todd Tolbert represented Five RE Tampa Bay Center, LLC in the disposition of the property. The buyer is Equity Management Partners, LLC, a Tampa Bay area firm that acquires and manages income properties spanning a variety of asset types, including retail, office, hotel and multifamily. Tampa Bay Center is situated on 11.57 acres at 2905 N. Dale Mabry Highway, along Tampa Bay's primary commercial artery, just south of Raymond James Stadium. [...]

By | 2018-09-06T15:13:43+00:00 September 6th, 2018|In the News, Press Release|0 Comments

Cushman & Wakefield Negotiates More Than $100M Recapitalization of Two Chicago-Area Continuing Care Retirement Communities

Sedgebrook Allen McMurtry, Paul Carr and David Kliewer Negotiated the Sale of Two Senior Living Campuses Totaling 1,071 Units in the Chicago Metro Area TAMPA, FL, August 14, 2018 – Cushman & Wakefield has negotiated the recapitalization of two Chicago-area senior living communities, Sedgebrook in Lincolnshire and Monarch Landing in Naperville, for a total purchase price in excess of $100 million. Monarch Landing Based in Cushman & Wakefield’s Tampa, Florida, office, Executive Director Allen McMurtry, Senior Director Paul Carr and Senior Director David Kliewer represented a partnership between Fundamental Advisors LP (Fundamental) and Senior Care Development LLC (SCD) in the transaction. The Fundamental-SCD partnership purchased the properties in 2010 after prior ownership found themselves in need of restructuring both communities. After 2010, the buyers implemented a series of initiatives including adjusting pricing to improve competitive position in their respective markets, investing significantly in capital improvement initiatives [...]

By | 2018-08-29T16:06:38+00:00 August 29th, 2018|In the News, Press Release|0 Comments