Other phases of the development will include a mixed-use tower with 550 Class-A apartment residences and a boutique hotel. Complementing the development will be retail and restaurant spaces, structured parking garage and a waterfront activity plaza with green space.
Cresa Orlando’s Sarah Castor represented Florida Cancer Specialists, and Colliers’ Matthew McKeever and Rick Solik represented the landlord in the deal.
Rob Solito, vice president and broker at JM Real Estate, Inc., brought the sale to close. Cassandra Hartford of Curri Kirschner Real Estate Group in Melbourne represented the buyer, Relentless Hotel EGAD, LLC.
Sasha Dominguez and Jordan Shtulman of STREAM Capital Partners represented the seller in the transaction.
Palm Bay has grown to become the largest city in Brevard County with a population of nearly more than 111,000.
The state-of-the-art automated warehouse will introduce Kroger’s innovative shopping experience to central Florida, a new market for the nation’s largest grocery retailer, while also extending its reach and capabilities in online ordering and home delivery.
The 80-acre property is under contract.
Matthew Mousavi, Patrick Luther and Patrick Nutt of SRS represented the seller, a Florida-based development firm, in the disposition of both properties to two separate buyers.
The final agreement is set to go before the Lake County Commission on July 27.
Cushman & Wakefield’s Equity, Debt and Structured Finance team secured $102 million in acquisition financing through PIMCO on behalf of the buyers.
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