NAI Realvest Negotiates Renewal Lease with Cape Publications at The Quadrangle in East Orlando

ORLANDO, Fla. --- NAI Realvest recently negotiated a renewal lease for 2,295 square feet of office space in the University Center building at The Quadrangle in east Orlando. Mary Frances West, CCIM, senior associate at NAI Realvest, negotiated the lease agreement on behalf of the local landlord, Jebden, LLC. Cape Publications, Inc., a wholly owned subsidiary of media holding company Gannett in Tysons Corner, Va., renewed its lease of suite 100 at 11825 High Tech Ave. Nan McCormick of CBRE represented the tenant in the transaction.

Villages of Royal Palm in Port Orange to start construction of three ready-to-move-in homes, only two remain for sale

PORT ORANGE, Fla. --- The Villages of Royal Palm in Port Orange recently sold three new ready-to-move-in luxury homes and Jamie Adley, president of The Villages of Royal Palm, said he plans to start construction of three more ready-to-move-in homes at The Villages of Royal Palm before Dec 31. Currently, only two move-in ready homes remain for sale, Adley said. The three and four-bedroom single-story luxury homes are priced from $275,000.

NAI Realvest Negotiates Acquisition of 1.17 acres of Land for Water Treatment Contractor in Apopka

MAITLAND, Fla. – NAI Realvest recently negotiated the purchase of 1.17 acres of vacant land at 2500 Clark St. in Apopka for $150,000. NAI Realvest Associate Michael Heidrich, Jr., and Michael Heidrich Sr., principal at NAI Realvest, negotiated the transaction representing the buyer – a local water treatment contractor – Huntington Storage LLC who purchased the land for a storage yard. The seller Leiffer Excavating, Inc. was represented by Steve MacGeorge of Commercial Equity Partners.

NAI Realvest brings innovative natural product retailer to lease 10,384 square foot market space in Lake Mary

MAITLAND, Fla. --- NAI Realvest, working in conjunction with NAI Brannen Goddard in Atlanta, represented health food retailer Earth Origins Outlet recently in negotiations to lease 10,384 square feet of space in Oaks at Lake Mary Shopping Center, 3005 W. Lake Mary Blvd. in Lake Mary. NAI Realvest principal Christie Alexander and broker associates Drew Saphos CCIM represented Earth Origins Market, along with Chairman George Livingston and Associate Paul Vera. The Lake Mary store will be Earth Origins Outlet’s 13th U.S. location and the first of its Earth Origins Outlet concept. Earth Origins Market is a division of Providence, RI-based UNFI, the leading U.S. independent national distributor of natural, organic, specialty foods, and related products. The Landlord, Oaks at Lake Mary Ltd. of Altamonte Springs was represented by Jim Gruber of Quest Company.

DEL WEBB SOUTHSHORE FALLS RESIDENT DECIDED TO EXERCISE, TURNS INTO CHAMPION TRIATHLETE

Apollo Beach, Fla. --- You’re never too old to reinvent yourself. It’s the American way. When Del Webb Southshore Falls resident Jan Miller decided she might feel better if she lost a little weight, she began exercising under the tutelage of Del Webb Southshore Falls Personal Trainer Deb Peterson. Within a few months, Miller began to feel differently. Swimming, exercises and jogging were having an effect. As her conditioning improved, she was able to exercise longer, swim more, jog farther. Over the next 12 months she dropped more than 40 pounds. And then it happened. She unleashed her inner triathlete. She participated in local 5K runs at Gasparilla, Island Run and Shape Up For Summer. In September she participated in her first triathlon and placed first in her age group. “That was a wonderful feeling,” Miller said. And it came with a big surprise. Her competitive time qualified her for the Florida State Senior Games in Lakeland in December. Her performance there could qualify her for the National Senior Games in Cleveland next July. “It started out as a hobby and it’s turned into a passion,” Miller said. “The regular exercise has certain side effects that are invigorating. I feel healthier, I relax more easily, I enjoy every moment,” she said. The competitive achievements have added a little more spring to her step too, she admits. “I never really thought of myself as an athlete, but now that I know how good it feels I wish I’d been doing it all my life,” she said. Some of the features of the 14,000-square-foot Wellspring Club at Del Webb Southshore Falls that help resident athletes train are a heated lagoon-style pool, a resistance-walking pool, an auxiliary pool, a state-of-the-art fitness facility, Internet café, billiards and game rooms, a grand ballroom, tennis, bocce ball and pickleball courts, and a putting green.

One Model under Construction, 50 Home Sites Available at Olympia Pointe at Lehigh Acres in Fort Myers

FORT MYERS, Fla. --- Lennar Southwest has a new model underway and 50 home sites available at Olympia Pointe in Lehigh Acres in Fort Myers. Matt Devereaux, vice president of sales and marketing for Lennar in the Southwest Florida region, said Olympia Pointe is a gated master-planned community located off Colonial Blvd. in Lehigh Acres and Lennar’s Executive Homes there will range from 1,677 square feet of living area to 3,231 square feet priced from $159,990 to $264,990. The Alexandria model under construction will offer four bedrooms, three baths and a two-car garage, Devereaux said. With Lennar’s “Everything’s Include” pledge, features such as granite countertops, wood cabinets, diagonal floor tile, paver driveway and lanai, home automation system, in-wall pest control and tile roof are all included at no extra cost.

Fourth-Quarter Trends, Immigration Law Foretell Increase in Foreign Investment in Florida Commercial Real Estate Projects

MAITLAND, Fla. --- Positive fourth-quarter economic trends will likely lead to increased foreign investment in Central Florida commercial real estate development, particularly benefiting assisted living facilities, according to longtime regional real estate investment expert George Livingston. Livingston, chairman of NAI Realvest in Maitland, said a law President Obama signed three months ago to extend the nation’s EB-5 immigration policy came at just the right time. “Sales of industrial properties are up, office prices have improved, sales of large regional retail malls have been strong, and the financing environment is improved with low interest rates that are falling still,” Livingston said. “Overall, real estate prices are generally stable with hotel prices lower, however, apartment prices continue to show strength,” he said. But the real gem is found in senior housing, Livingston said. “Senior housing occupancies have improved and rents are trending higher,” he said. Assisted living facilities are among the best positioned for the international EB-5 investors due to the high new job count and positive outlook for this section. Under EB-5 rules, foreigners can obtain a two-year resident card for their entire family if they invest a minimum of $500,000 in a “Targeted Employment Area”--- a high unemployment or rural area --- that creates or preserves at least 10 jobs for U.S. workers, not including the investor’s family. The bill President Obama signed extended a provision creating Regional Centers to facilitate foreign EB-5 investment. Florida has 22 Regional Centers, second only to California. “The market now favors acquisition of U.S. real estate, particularly apartment and senior living properties in select markets,” Livingston said. There currently is a shortage of capital for new development in the U.S., so now is the appropriate time for foreign investors who want a U.S. Visa to join with an experienced developer in a Regional Center to construct a high job-producing commercial property such as a hotel or assisted living facility,” he said.

NAI Realvest Negotiates Two Lease Agreements for Class A office space in Lake Mary

ORLANDO, Fla. – NAI Realvest recently negotiated a new lease and a sublease totaling 3,055 square feet of Class A office space in Lake Mary. Senior Broker-Associate Mary Frances West, CCIM represented SubTenant Atlantic Coast Financial Corporation d/b/a Atlantic Coast Bank in the Sublease of suite 4019 with 1,629 square feet at 1001 Heathrow Park Lane a/k/a International Blvd. American Pioneer Life Insurance Company, the SubLandlord, was represented in the transaction by Mike Phipps of CB Richard Ellis. West represented landlord Maya Associates LLC of Okemos, Mich. in a lease agreement with Global KTech, Inc. for suite 200 with 1,426 square feet at The Crystal Center, 3300 West Lake Mary Blvd.

NAI Realvest Executive gives Receivership presentation to Commercial Property & Asset Managers

MAITLAND, Fla. --- Mez Birdie, CCIM, CPM, SCSM, director of special assets at NAI Realvest in Maitland, gave a presentation on foreclosure and receivership services to more than 100 commercial property and asset managers who participated at the NAI Global Conference in Miami. Birdie, who is Receiver for banks, special servicers and various lending institutions, said that foreclosures will continue through 2013 due to many commercial loans not qualifying for refinancing.

DiMucci Companies and Realty to Open New Headquarters Facility in Port Orange

DAYTONA BEACH SHORES, Fla. --- The DiMucci Companies started construction of a new 3,000 square foot office building at 51 Dunlawton Ave. in Port Orange. Anthony DiMucci, president, said the office building will serve as headquarters for the DiMucci Companies and DiMucci Realty. The building will be completed and ready for move-in by the end of the year, DiMucci said. Currently DiMucci Realty and DiMucci Companies are headquartered in a temporary office structure on the site of the new office building. The DiMucci Companies is the developer of the DiMucci Twin Towers oceanfront Condominium on S. Atlantic Ave. in Daytona Beach Shores and Bouchelle Island in New Smyrna Beach.