Alta at Eastmar Commons is poised for rent growth (CBRE)
Alta at Eastmar Commons was less than a year old when the east Orlando complex sold last week for $54.65 million.
The gated property included 312 units spread across 16 acres near Valencia College East Campus and the University of Central Florida. Salt Lake City-based M&C Properties LLC bought the complex, with more than a dozen three-story buildings, a two-story clubhouse and eight detached garages at 10038 Vista Laguna Drive, Orlando.
CBRE’s Shelton Granade, Luke Wickham, and Justin Basquill represented the seller, Wood Partners. Granade said demand for the property warrants higher rents.
Del Webb at Sunbridge
One of the region’s largest developments — the 24,000-acre Sunbridge project in parts of Osceola and Orange counties — will have an active adult component as it gets started.
Del Webb, part of PulteGroup Inc. and one of the country’s largest builders of retirement communities, has planned a gated, 700-acre neighborhood pending final approvals from Osceola. Del Webb Sunbridge is planned for Narcoossee Road in northwest Osceola and would include more than 1,350 homes. The first homes are slated to open in the summer of 2019.
“We expect Del Webb, which has been the premier active adult homebuilder in the nation for over 60 years, to complete its approval process within the next 90-120 days,” said Rob Adams, vice president of Tavistock Development Company.
AmeriFirst to open in Winter Park
AmeriFirst Mortgage, headquartered in Kalamazoo, Mich., launched its Florida operations with a lease of 7,100 square feet at 1270 N. Orange Ave., Winter Park. David Lundberg and Greg Kainz, managing partners of Commercial Equity Partners, represented both the tenant and the landlord. The mortgage group now operates in a dozen other states.
PCL Construction will start work on a new office building in Lake Nona Town Center for BBA Aviation/Signature Flight Support. The group plans to open it headquarters in what is to be an environmentally-certified building.
Tavistock Development Company is the developer and m+a architects designed the project, which is expected to open in the first quarter of 2019.
West Colonial grocer
West Colonial Drive is getting a grocery store. First and Fresh leased 1,500 square feet at Westside Plaza, 6218 W. Colonial Drive, Orlando. Jackie Pace, of NAI Realvest Charles Wayne Commercial, represented the Tampa-based tenant in its sixth Florida location. The grocer specializes in nutritious products for women, infants and children participating in a federal nutrition program. Dave Van Wormer of Van Wormer Realty represented the new tenant.
Altamonte office park sells
Colorado-based Arsenalt Holdings LLC purchased Suntech Commerce Park I and II, with six buildings and 224,409 square feet at 39-59 Skyline Drive, Orlando, for $19.75 million.
CBRE’s Ron Rogg and Chip Wooten represented the seller, DOF II Suntech LLC. The park is about 19.5 acres.
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