This acquisition is the second and largest of three planned land purchases along Micco Road for the Ashton Park mixed-use development, a massive 1,568-acre project valued at $2.5 billion.
The Space Coast has witnessed tremendous growth in recent years, fueled by expanding aerospace, defense, and STEM industries, as well as increased tourism. The region is home to some of the world’s most innovative companies, including NASA, SpaceX, Blue Origin, Boeing, and Lockheed Martin.
Originally constructed in 2020, Mode at Melbourne encompasses approximately 218,592 rentable square feet and was 94% occupied at the time of the transaction.
Throughout his extensive career, he has facilitated numerous transactions with a wide range of multifamily stakeholders, including national and regional developers, institutional investors, REITs, insurance companies, high-net-worth individuals, and opportunity funds.
In honor of the New Year, here are the most popular news headlines of 2024 on CRE-sources.
The Annual HALLMARK Awards event, presented by the Central Florida Real Estate Association (CFCREA) in association with the Central Florida Commercial Association of Realtors® (CFCAR). This year’s event included both unique insights into Orlando’s historic Packing District and a generous donation to 4Roots non-profit farming initiative, also located in Packing District.
He will join the firm’s existing Florida Multifamily Group led by Vice Chairs Mike Donaldson and Nick Meoli. The group will collectively represent institutional, private capital, and developers throughout Florida.
The transaction, valued at $55.3 million, includes nine buildings encompassing 168,741 square feet of space.
The HALLMARK Awards event is scheduled for July 24th, 2024.
Travis Prince, Shawn Lubic, and Victoria Marks-Vagnier of Cushman & Wakefield’s Student Housing Capital Markets team represented the seller in the transaction. The firm also brokered the sale of the land, on which the community was developed, back in 2021.