Transwestern Names Bruce Ford As President of Transwestern Commercial Services' East Region

Transwestern has announced that Bruce Ford has been named President of Transwestern Commercial Services’ East Region. Ford, who previously served as President of the Southeast, now assumes oversight of operational excellence, client service delivery, and business development initiatives for the commercial real estate services business in offices throughout Florida, Georgia, Tennessee, Virginia, Maryland, the District of Columbia, Massachusetts, New Jersey and New York. This new position is part of the company’s transformation to a broader, three-region approach to commercial services, which is designed to inspire high performance, capitalize on synergies and enhance client connectivity.

“Transwestern is committed to exceeding clients’ expectations for consistency, innovation and cost savings, so it makes good sense to view our commercial services offerings through a wider lens,” said Tom Lawyer, President, Transwestern Commercial Services. “Bruce’s business acumen and proven ability to drive results make him a natural fit for this new role. We are confident his strong leadership will further collaboration, spark creativity, and ultimately grow market share in some of the country’s most vibrant, multi-faceted markets.”

Ford’s responsibilities during his 10-year tenure with Transwestern span all business lines, including Agency Leasing, Asset Services, Capital Markets and Occupier Solutions. His leadership in management operations, financial planning and creative marketing has led to tremendous recruiting success and regional growth. Since Ford assumed responsibility of the Southeast, the region’s property management portfolio has more than doubled to its current 20.3 million square feet, and in the past five years, transaction volume increased approximately 25%.

“Transwestern’s ability to attract and retain top talent coupled with our intense focus on service delivery have established Transwestern as a leader in the industry,” said Ford. “It is an honor to work alongside an inspiring leadership team with a clear vision – one aimed at expanding opportunities for our team members and challenging each of us to think differently about how we work together to add value for our clients.”

Ford serves on Transwestern’s Board of Directors and Executive Committee. He holds the designation of Real Property Administrator (RPA) from the Building Owners & Managers Institute, and, since 2008, he has been included in the Atlanta Business Chronicle's "Power 50," a guide to the city’s top 50 industry leaders.

BH 18 Investments Reveals Studio Baigorria-Designed Krystal Tower In Downtown Miami

BH 18 Investments, LLC. has submitted plans for Krystal Tower at the former Logik site next to MiamiCentral Station to the Urban Development Review Board. The tower would be built on the podium which was previously abandoned over a decade ago and is designed by Studio Baigorria. Krystal Tower will rise 32-stories and will feature 154 residential units, 79,180 SF of office space and 251 parking spaces. Krystal Tower will be located at 530 NW 1st Ct. Brazilian developer Rodolfo Ishak sold the site for $8.55 million to BH Investments, LLC. in December 2018 in a deal financed by Transcapital Bank.

Codina Partners Launches Leasing For Beacon Logistics Park In Hialeah

Codina Partners a distinguished real estate development, management and investment firm, has launched leasing for the newest logistics and distribution built-to-suit park in South Florida, Beacon Logistics Park. It is located at Northwest 145th Place and NW 107th Avenue. The master-planned industrial development is located in close proximity to the Florida Turnpike, the Palmetto Expressway and I-75, providing easy access to all of Miami-Dade County and Broward County. Beacon Logistics Park will have more than 1.3 million square feet of space, giving tenants the adaptability to expand. The first phase of the Class A distribution park is Building F, which will be 147,768 square feet, with units available from 17,280 square feet and up. The building will feature a non-shared truck court, a building depth of 160 feet with a 60 foot speed bay to accommodate tenants needs.

“Tenants at Beacon Logistics Park will not only reap the benefits of the property being developed and managed by the seasoned team at Codina Partners, but they will also be located in a prime area with a growing population of skilled talent and quick access to Miami International Airport, PortMiami, and Port Everglades,” said Jose Juncadella SIOR, Principal at Fairchild Partners, leasing agents for Beacon Logistics Park.

Article by Stephanie Warren

For more information about Beacon Logistics Park, private showings or leasing information please fill out the form below:

Global City Development & Asia Capital Real Estate Management Break Ground On MiMo Bay Apartments In Miami's Upper East Side

Asia Capital Real Estate Management (ACRE) and Global City Development, led by Principals Brian Pearl and Diego Procel, celebrated the groundbreaking of MiMo Bay Apartments, a 236-unit mixed-use waterfront community in Miami’s Upper Eastside. The project is a joint venture between ACRE and a large Canadian Pension Fund, and will be built on the 3.6-acre site of the former American Legion Post No. 29 building. The five-story waterfront building is being built by Miami-based Coastal Construction Group and financed via a $51 million construction loan from TD Bank. Designed by Stantec's Miami office, MiMo Bay Apartments will comprise of 236 LEED-certified market-rate rental apartment units, as well as 15,000 SF facility to be owned and operated by Post No. 29 for the use of its military veteran members. The Post No. 29 space will feature a gym, areas for physical therapy, a wellness center, and a swimming pool with services will include group therapy, acupuncture, post-traumatic stress disorder treatment, and more.

MiMo Bay Apartments is located adjacent to Legion Memorial Park at 6445 NE 7th Avenue in Miami’s MiMo District, the ceremony included remarks from Global City Development Principal Diego Procel, as well as ACRE Managing Partner Blake Olafson. Commander Robert Bellamy representing Post No. 29 and City of Miami Commissioner Ken Russell were also in attendance to initiate the ceremonial event.

“We’re incredibly proud to officially break ground on MiMo Bay Apartments and begin the process of developing this project with an extraordinary group of individuals,” said Olafson. “MiMo Bay Apartments will bring a world-class standard outdoor and waterfront living concept to Miami’s Upper Eastside, whilst being built and designed by local Miami firms.”

“We look forward to contributing such an important development in this growing neighborhood,” added Procel. “As the proud father of a Marine and recognizing the need for a community that serves the Legion, this development will realize an incredible opportunity for veterans to enjoy vastly enhanced amenities in the area.”

“Our vision for MiMo Bay is to pay homage to the surrounding neighborhood and its Miami Modern (MiMo) style of architecture, and to establish a connection between the bay and the park,” said Christina Villa, senior associate with Stantec’s Miami office. “We mixed modern and sharp angles to maximize water views from all areas including the units, public spaces and the American Legion facility. Natural fauna and landscaping will be implemented to enhance the site, blend with the park and provide a secluded retreat for residents.”

New Renderings Revealed Of The Proposed Puerto Rican Chamber of Commerce In Wynwood

New renderings have been revealed of the Berenblum Busch Architects-designed proposal for the Puerto Rican Chamber of Commerce, to be located in Wynwood. Located at 2900 NW 5th Ave., the project is being developed by Moishe Mana and will feature 43,466 SF of total development. It is expected to cost around $8.4 million for the build-out and will be part of a land swap between Mana and Miami-Dade. The Puerto Rican Chamber of Commerce will be used as a county district office and Puerto Rican Community Center; additionally, the development will offer artist studios, a cafe, community spaces, offices and parking.

YOTELPAD Miami Reaches 50% Sold Six Months After Launching Sales In Downtown Miami

Aria Development Group, a New York and Miami-based real estate investment and development company, along with joint venture partner, AQARAT, one of Kuwait's leading real estate companies, has announced that YOTELPAD Miami is now 50% sold just six months after launching sales in June 2018. OneWorld Properties led by Peggy Olin is the exclusive sales and marketing team for YOTELPAD Miami. The mixed-use hotel and residential development, which will be the first YOTELPAD on the East Coast, is located in Downtown Miami and is slated for completion in early 2021. The development’s attractive short-term rental options without any restrictions and leaseback program offer owners flexibility. More than 40% of YOTELPAD Miami’s buyers are investors from Mexico and China with a substantial amount of investors also coming from Argentina, Colombia and other South American markets.

“Our team has sold over 18 units per month over the last six months – that is 111 units and counting. This is something we have not seen in Miami in a long time,” said Peggy Olin, president and CEO of OneWorld Properties. “Buyers understand the value and freshness of the YOTEL brand and are looking for flexibility and a prime location. Miami serves as a significant gateway to global markets and has one of the largest financial districts in the U.S. Our team was able to take all the incredible elements of this project and the Downtown area to deliver the right product for this market.”

“The realization of YOTELPAD is a major milestone for Downtown Miami,” said David Arditi, principal of Aria Development Group. “It’s the first time a global hospitality brand will offer luxury living at an attainable price point. The innovative PAD concept, with its clever and adaptable floorplans and flexible rental options, is being received with great enthusiasm by local and international buyers alike. We are excited to forge ahead with construction and bring this highly-anticipated project to life.”

Upon completion of the project, YOTELPAD Miami will incorporate three Techi robot butlers capable of delivering beverages, food, gifts, documents and more. Raising the standard for residential amenities, two robots will be available to residents and one will be designated to guests of the hotel. The robots can be programmed to speak a variety of languages, dialogues and play digital files with music and voice recordings. Other amenities include concierge services, secure bike storage, gourmet matcha bar, full-service restaurant and bar with outdoor seating and private dining, state-of-the-art fitness center, co-working space, a lounge, pool deck and pet salon. In addition, each PAD will come with a dedicated storage unit. Global design and engineering firm Stantec is the lead architect, interior designer and engineer for the project.

“As global experts in the residential real estate market, we believe in YOTEL’s new ‘live smarter’ PAD concept,” said Fahad Al-Shamlan, vice president of Investments & Acquisitions for AQARAT. “Our partnership with Aria Development Group on this project will transcend the boundaries of luxury in high-end resort destinations for the modern person.”

The 31-story YOTELPAD Miami, which is located at 227 NE 2nd Street and designed by Stantec, will feature 222 Yotel-branded “cabins” (hotel rooms), 231 “PADs” (condominiums) and amenities such as a Skytop Lounge, pool deck with restaurant and bar, fitness center, co-working space and pet spa. The hotel portion is located on floors 2-12 with the condominiums on floors 15-30. Condominium owners and residents will have access to exclusive amenities such as a 2,000 SF “Lounge in the clouds” with game area and chef’s kitchen. The high-tech units include studios to one- and two-bedrooms and range in size from 417 SF to 708 SF with top-of-the-line flooring and lighting, floor-to-ceiling glass windows, custom European cabinetry and Smeg brand Italian appliances. YOTELPAD Miami is scheduled for completion in early 2021.

For more information about YOTELPAD Miami, private showings or purchasing/ leasing information please fill out the form below:

Avison Young Acquires Front Street Commercial Real Estate Group, Marking The Firms 8th Florida Office

Avison Young has acquired Front Street Commercial Real Estate Group, marking their 8th Florida office and 59th office in the United States. Front Street Commercial Real Estate Group is a full-service commercial real estate brokerage and property management company based in Gainesville, Florida, with satellite offices in Ocala, Sarasota, Jacksonville, Orlando, and Tallahassee. Front Street has rebranded as Avison Young and 26 new members have joined the firm. Terms of the transaction were not disclosed.

Nick Banks becomes a Principal of Avison Young and Managing Director of the new Gainesville office. He will manage its day-to-day operations and lead the company’s strategic growth in Gainesville and across North Florida with a mandate to expand the company’s footprint, particularly in retail. He will also help Avison Young expand its service lines, particularly property management, in Jacksonville. Banks brings to Avison Young 25 years of commercial real estate experience, most recently as Managing Director of Front Street, which he founded in 2002. The firm is a leader in the region’s commercial real estate market and offers services for all property types, including office, retail, flex/industrial and land. The company has developed particular expertise in retail property brokerage. Relationships with national retail brands as well as private and institutional owners of retail properties have fuelled the majority of the firm’s growth throughout North Florida.

“We are thrilled to be opening our first office in Gainesville and, at the same time, expanding our presence in North Florida,” comments Rose. “The acquisition of Front Street reinforces our strong foundation in Florida and assists our rollout in the northern area of the state, particularly in terms of retail brokerage and all aspects of property management. By bringing Nick and the rest of the Front Street team on board, we are adding individuals who are respected for their leadership, extensive industry experience and in-depth local and regional market knowledge. More importantly, they will fit seamlessly into our Principal-led, collaborative culture and provide a superior level of service to clients.”

“The Front Street team has established itself as a market leader throughout the North Florida region,” states Earl Webb, Avison Young President, U.S. Operations. “This acquisition will be highly beneficial to many of our occupier and investor clients throughout Florida. Front Street has built a high-quality service platform that provides creative real estate solutions, and Avison Young looks forward to growing our company’s presence in Gainesville, which we believe is an underserved market. Nick Banks has consistently provided excellent client service during his career while building a broad-based service platform at Front Street and other firms where he has worked. Additionally, the new team has a number of senior managers and brokers who will enhance our client-service capabilities in all asset classes and service lines.”

Also joining Avison Young from Front Street are brokers Rick Cain, Jason Hurst, Gavin Johnson, Beau Broker, Nick Robinson, Mike Oransky, Tim Deardourff, Flavia Kanyago, Bobby Nickels, Jennie Bram, Andrew Smith, Keith Crutcher and Edmund Aramayo. Property management specialists joining are: Cheryl Carroll, Alex Ling, Terri Smaistrla, Fred Maccioli, David Sooy and Aaron Graham. Joining as administrative and marketing specialists are: Sue Fisher, Natascha Kehri, Virginia MacKoul, Sara Padgett, Dustin Walsh and Alexandra Morales.

Front Street currently manages 20 properties totaling more than 1 msf of office, retail, industrial and multi-family space, including hundreds of apartment units, in the North Florida region. Properties under management include Innovation Square, an affiliated entity of the University of Florida; and Tioga Town Center, a mixed-use town center consisting of approximately 150,000 sf of retail, office and multi-family units. The acquisition brings Avison Young’s total square feet of office, retail, industrial and multi-family properties under management in Florida to 19 msf. Avison Young has more than 120 msf of retail, industrial and office properties under management in North America.

“With the opening of the new Gainesville office, Avison Young now has a strong presence in all of Florida’s regions,” notes Pike Rowley, Avison Young Principal and Managing Director of the company’s Florida region. “The acquisition of Front Street enables us to accomplish several goals as we attempt to expand Avison Young’s reach into North Florida and grow our retail service lines statewide. The Gainesville area has been a rapid-growth market in Florida, driven by the University of Florida and UF Health at Shands and the emerging industrial sector in Ocala.”

“The acquisition enables us to bolster our retail service line in North Florida and, in one fell swoop, add brokerage and property management expertise in five other cities served by Front Street team members. Nick Banks is a strong leader who is deeply involved with the Gainesville business community. Furthermore, he is well-versed in the development and financial- underwriting area of the capital markets service line. He will be an integral member of our retail and capital markets practices,” added Rowley.

“Our team has been humbled by the support we have received from clients and other stakeholders over the last 16 years as we have built the Front Street brand from scratch and then throughout North Florida,” says Banks. “We could not be happier about joining a company like Avison Young, whose collaborative culture and values match ours so perfectly. We are excited about being a part of a growing and entrepreneurial platform like Avison Young. We also look forward to discovering what the resources of a global, Principal-led company can do to enhance the service that we bring to our clients. “

Avison Young’s new Gainesville office is located at 132 NW 76th Drive.

Metronomic Breaks Ground On TriniSuites Calle Ocho, Their New Off-Campus Student Housing Project In Little Havana

The Miami-based real estate development company Metronomic, Inc. has broken ground on TriniSuites Calle Ocho, an eight-story off-campus student housing building located at 2500 SW 8th Street in Little Havana. TriniSuites Calle Ocho will offer 30 turn key, fully furnished one- and two-bedroom student housing units ranging from 445 SF to 510 SF. The 20,788 SF building is designed by local architecture firm CLAD Architecture and Design. TriniSuites Calle Ocho part of a new seven building student housing community which will accommodate college students of Miami-Dade College, Florida International University (FIU), the University of Miami (UM) and numerous other colleges and universities, providing students with ease of access leasing, and a state-of-the-art student experience while filling the much-needed void for off-campus student housing throughout Miami. The decision to rent by the bed, co-living, or long term leases have yet to be determined.

Residents of seven TriniSuites buildings will have access to amenities including fitness centers, pools, rooftop garden/terraces, party/special-event rooms, student café’s, game rooms, a business center and more. The TriniSuites community will also offer a secure keyless entry system, 24-hour security, nearby public transportation, turn-key furnished units, and many other features and amenities designed to enhance student life. Metronomic, Inc. is also planning a student exchange and cultural immersion program for foreign students that will be incorporated into the TriniSuites community, to be announced at a future date.

“Metronomic understands there is a dire need for convenient student housing throughout Miami. The TriniSuites community is designed to help students easily secure quality housing while improving their quality of life and education,” said Ricky Trinidad, President of Metronomic. “The TriniSuites community and Metronomic are committed to enhancing education and student life in Miami, while benefiting the community of Little Havana and the City of Miami with quality new infill developments that create and produce impactful aesthetic, environmental, social and economic improvements.”

TriniSuites Calle Ocho is Metronomic’s third student housing building to break ground and will be centrally located, only one block from Miami Dade InterAmerican Campus in the heart of the historic Little Havana neighborhood. TriniSuites MetroPlace, TriniSuites MetroPark and TriniSuites Plaza Celia are currently under construction and expected to be completed by Spring and Summer 2019, while completion of TriniSuites Calle Ocho is slated for January 2020. All of the TriniSuites buildings are planned for completion by the first quarter of 2020.

One CocoWalk Signs Creative Coworking Pioneer & Operator Spaces As Anchor Tenant

As the redevelopment of CocoWalk continues, the joint venture behind the project, comprised of Federal Realty Investment Trust (NYSE: FRT), Grass River Property and Comras Company, has announced that it has signed its anchor tenant, co-working company Spaces, to occupy 42,883 SF at the new Class A office building One CocoWalk. Spaces’ long-term lease is comprised of 2,029 SF on the building’s ground floor and 40,854 SF on the second and third floors. The anchor tenant brings the 5-story centerpiece office building to 50% leased, with other leases in advanced negotiations. Spaces is an international creative coworking company operating over 160 locations in 80 countries worldwide. This deal marks the third location for Spaces in South Florida. Randy Carballo and Gavin Macphail of JLL in Miami represented the tenant, Spaces, in the lease transaction while the landlord, One CocoWalk, was represented by Tere Blanca, Danet Linares and Juan Ruiz of Blanca Commercial Real Estate.

“As new ways of doing business emerge, the flexibility coworking facilities offer is gaining popularity. Spaces is a great fit for freelancers, energetic entrepreneurs, mobile workers and startups as well as project teams or regional headquarters of well-established companies,” said Jan Sweetnam, Senior Vice President and Chief Operating Officer of Federal Realty Investment Trust. “Coconut Grove, renowned as Miami’s bohemian enclave since the 1960s, appeals to the nomadic, non-traditional mindset of the millennial generation now comprising the lion’s share of the workforce, making it a perfect site for Spaces.”

“South Florida is experiencing an entrepreneurial surge and Coconut Grove is quickly becoming one of the area’s premier destinations for startups to call home,” said Michael Berretta, Vice President of Network Development for IWG, which owns Spaces. “It’s an exciting time to be entering the market and One Cocowalk was a natural choice for our next Spaces location within the region. It embodies the vibrant spirit and ethos of our brand and provides the amenities and type of neighborhood environment that will help further foster our members’ growth and creativity.”

The coworking concept offers tenants a variety of workspace options, from dedicated desks to traditional office configurations to open areas that foster collaboration, on flexible contract terms. Special events and other perks conspire to create a shared work environment that is fun, efficient, inspiring and productive.

One CocoWalk is one of three office buildings under development for the first time in 30 years in the Coconut Grove office market. All three buildings are experiencing strong leasing activity that has solidified the Grove’s position as a highly desirable location for companies seeking class A office space. Amenities at the 85,762 SF One CocoWalk will include dedicated elevators connecting office users with private parking, 24/7 security, and a visitor entrance and lobby as well as access to a full-service gym inside CocoWalk. Perhaps the most unique amenity for tenants will be One CocoWalk’s rooftop terrace and event space, an urban oasis overlooking Coconut Grove’s lush tree canopy and historic brick sidewalks.

The transformation of CocoWalk will create a premier lifestyle destination with experiential retail, dining and entertainment spaces along with public spaces for the community to enjoy. When complete CocoWalk will be home to a total of 100,000 SF of office space and 150,000 SF of experiential retail, dining and entertainment space, along with welcoming public spaces throughout. Completion of the retail and office components are slated for the first quarter of 2020.

“In addition to offering entrepreneurs a fully-amenitized co-working space in the heart of Coconut Grove, the arrival of Spaces will bolster the Grove’s fast-growing daytime population, driving even more foot traffic to area shops and restaurants with CocoWalk at the center of this action. This is a big win for Coconut Grove,” said Tom Roth, principal of Grass River Property.

The upscale shopping center, which first opened in 1990, was purchased in 2015 by Federal Realty Investment Trust (NYSE: FRT), Grass River Property and Comras Company. The JV is now under construction with a redevelopment plan that will enhance CocoWalk’s connection to surrounding streets, aligning the property with the area’s changing demographics and revamping its commercial offerings.

For more information about One Cocowalk, private showings or purchasing/ leasing information please fill out the form below:

Coral Rock Development Group And Arena Capital Holdings Reveal Pura Vida Hialeah

The Miami-based Coral Rock Development Group and Arena Capital Holdings announced the plans for Pura Vida Hialeah , a premier mixed-use project set to be the first kind in Hialeah. Pura Vida, meaning “Pure Life,” is the first major mixed-use development in the area in more than 20 years. The development is led by Stephen A. Blumenthal, David Brown, Victor Brown and Michael Wohl of Coral Rock Development Group in partnership with Oscar Rodriguez, Ana Rodriguez and Sebastian Roiter of Arena Capital Holdings. The project is spread over nine acres with the first new sleek contemporary designed vertical towers located at 2901-3099 W 16th Avenue and 1571 W 29th Street. Pura Vida Hialeah possess a central location just minutes from major thoroughfares including I-75, the Palmetto Expressway, the Florida Turnpike and Okeechobee Road, offering direct access to Greater Miami and the surrounding areas.

“As the sixth-largest city in the state and with one of the lowest vacancy levels in the metropolitan area at just two percent, Hialeah has quickly earned its place as Miami’s newest destination for investment. Recently revamped zoning and density laws in an effort to court millennials have also cemented its status as one of the most desirable and stable submarkets in Miami for development,” said Michael Wohl, principal of Coral Rock Development Group.

“We are excited to usher in a new era in Hialeah with the introduction of Pura Vida. Our goal in creating this development was to create a new paradigm for living in Hialeah,” said Stephen Blumenthal, principal of Coral Rock Development Group. “With the support of the City of Hialeah, our vision for Pura Vida Hialeah is becoming a reality, and we look forward to offering Hialeah citizens this contemporary and convenient new walkable lifestyle.”

Pura Vida Hialeah offers a wide array of floorplans ranging in size from 538 SF to 1,099 SF, and includes studios, one, two, and three-bedroom units. The featured amenities will include a resort-style pool, state-of-the-art gym, BBQ area, dog park, and 24-hour security staff for the convenience of residents. Pura Vida Hialeah will further offer a vibrant mix of popular restaurants, shops and other conveniences while providing an exceptional pedestrian-friendly lifestyle, with an densely populated community. The project is set to break ground in 2019 and is expected to be completed in 2020.

“We are grateful to Mayor Carlos Hernandez and the entire staff of the City of Hialeah for their support and invaluable assistance throughout the entitlement process,” added Oscar Rodriguez, Manager of Arena Capital Holdings. “We look forward to continue working together as we deliver Pura Vida Hialeah, which will benefit the community for many years to come.”

Article by Stephanie Warren