Concord Summit Capital, LLC (Concord Summit) arranged a $16 million bridge loan to refinance and expand the Bed Bath & Beyond Plaza located at 14802 South Military Trail in Delray Beach, Florida. The sponsor, Berta Management of Florida, will use the money to construct a new Starbucks store, provide for capital improvements and pay off existing debt.
An obstruction evaluation study is currently underway at the Federal Aviation Administration (FAA) for a 454-foot-tall skyscraper at 1000 North Orange Avenue in the northern section of Downtown Orlando’s Central Business District. The four coordinates submitted to the FAA align with a vacant 1.474-acre site that sits on the southwest frontage of the intersection between North Orange Avenue and North Garland Avenue, also bound by West Marks Street and SunRail tracks on the south end of the block. According to the Orange County property records, the land is owned by a Hallandale Beach-based entity registered as Mustang Orange Garland LLC (Mustang) managed by Aaron Churba and Mike Daiagi. The entity, which is linked to a number of other financial and investment entities using the Mustang moniker, has owned the property since January 2005 after purchasing it from Orange Garland Realty Ent LLC for a $3,000,000.
Having worked in the region for many years, leading global architecture firm Arquitectonica has announced the opening of their office in Rosemary Square. Located at 477 South Rosemary Avenue in Downtown West Palm Beach, the office provides close accessibility to the firm’s ongoing projects in design and under construction. This work has served to reinforce their commitment to growing a presence in the region and establishing the new location helps support the firm’s capabilities in Florida that also includes projects in Orlando, Tampa and Jacksonville.
YIMBY recently checked in on the progress of a 9-story office tower and parking garage under construction at The City Center in O-Town West, a mixed-use community located in Orlando’s southwest corridor between the Walt Disney and Universal Orlando markets fronting Interstate-4. Designed and engineered by Apopka-based Finfrock, who is also the precast concrete manufacturer & installer and the general contractor, and developed by Orlando-based Unicorp National Developments, the new tower will yield 350,000 square feet of Class-A office space fit for over 1600 daily employees, and will become the new headquarters for Marriott Vacations Worldwide Corp. The 7.127-acre City Center development site, addressed as 7800 Palm Parkway according to property records, is located at the crossing between Daryl Carter Parkway and Palm Parkway, and will additionally yield a 160-key Zen Hotel, nearly 23,000 square feet of commercial space and a parking structure for over 2000 vehicles.
The Federal Aviation Administration received applications for permits to assemble two towers cranes for the construction of 575 Rosemary, a 21-story mixed-use tower to be developed at 575 South Rosemary Avenue in West Palm Beach by New York’s Related Companies, encompassing over 500,000 square feet of new construction including 364 state-of-the-art luxury residences, ground floor commercial space and parking. The project is designed by Boston-based Elkus Manfredi Architects and Omaha-based Leo A. Daly with Meyer Davis leading interior design. The new structure will rise in the heart of The Square, an upscale Mediterranean and Venetian-themed mixed-use complex owned by Related, offering residents easy access to the best of West Palm Beach’s local arts, culture and wellness programming, as well as entertainment and shopping corridors in the downtown area.
