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Saltwater Row Shopping Center, Hotels To Replace Old Neptune Beach KMart

Excerpted from WJCT story.

A brew pub, café, yoga studio, gourmet donut shop and a local clothing boutique are among the businesses said to be negotiating leases in the retail center that’s set to replace the old Kmart in Neptune Beach.

Developers TriBridge Residential and TLM Realty Corp on Monday announced plans for the retail and commercial development to be named Saltwater Row. They say retail, entertainment and a hotel are planned for near the corner of Atlantic Boulevard and Third Street.

“Our goal is to transform a sluggish plaza into a dynamic shopping and entertainment destination with curated retail, restaurants and hotels, attracting locals and visitors alike,” said TriBridge Residential Principal of Development Katherine Mosley in an email to WJCT News.

A project originally named 500 Atlantic faced pushback from local group Neptune Strong over its inclusion of apartments. The Neptune Beach City Council and an appeals court denied TriBridge’s request for a zoning variance to build the apartments.

The first phase of Saltwater Row will include 30,000 square feet of retail on the ground floor with a 44-room boutique hotel above the retail. Construction on Phase 1 is anticipated to start early next year.

Plans for the second phase include an approximately 150-room “upscale hotel from a national brand” custom designed to complement Saltwater Row’s architectural style, according to a news release.

Franklin Street Real Estate Services is pre-leasing Saltwater Row. The company has letters of intent from several retailers.

For more information, visit Saltwater Row.

For full story, visit https://news.wjct.org/post/saltwater-row-shopping-center-hotels-replace-old-neptune-beach-kmart

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Awards

Tampa Bay 200, Tampa Bay’s Largest Private Companies

Excerpted from Tampa Bay Business Journal story.

Ranked by Revenue 2018

Data was provided by company representatives or estimated based on prior reporting. 2017 and 2016 revenues serve as primary and secondary tiebreakers. Companies listed are based in Hernando, Hillsborough, Manatee, Pasco, Pinellas, Polk and Sarasota counties.

Rank
105

Company Name
Franklin Street
1311 N. West Shore Blvd. #200
Tampa, FL 33607
813-839-7300
FranklinSt.com

Revenue 2018
$29.70 million

Revenue 2017
$24.83 million

Revenue 2016
$22.25 million

Founded
2006

Business Description
Commercial real estate

For full list, visit https://www.bizjournals.com/tampabay/subscriber-only/2019/09/27/tampa-bay-200-tampa-bays-largest.html

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Curry Ford West District Getting a Floyd’s Barbershop

Excerpted form The Daily City story.

A Floyd’s Barbershop will be occupying one of three tenant spaces in the shell of the former ABC Liquor store at 3097 Curry Ford Road at the intersection of Curry Ford Rd and S. Crystal Lake Dr (MAP). The two remaining spaces have 2,500 sq ft each. The building is located within the Curry Ford West District near the Hourglass District. 

Those interested in the two available spaces can contact Franklin Street at Terrence.Hart@franklinst.com

For full story, visit https://www.thedailycity.com/post/floyds-barbershop-curry-ford?fbclid=IwAR0B9tfSRpDZoPUzolwIIkw0962eOELLzXPOgjog_Ym6eJntJFqBvFl4adI

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Franklin Street CEO Andrew Wright named to annual ‘Florida 500’

Excerpted from Florida Trend’s Florida 500, a special section that highlights the 500 most influential business leaders in different economic sectors throughout the state. 

Andrew Wright
MANAGING PARTNER & CEO, FRANKLIN STREET, TAMPA

Wright, with a bachelor’s degree from Miami University in Oxford, Ohio, established the company in 2006 and steered it successfully through the economic downturn. It has become one of the fastest-growing commercial real estate firms in the Southeast.

Wright, whose grandparents emigrated from Colombia in the 1950s, envisioned the firm as a “vertically integrated business encompassing the entire life cycle of an asset” — the firm offers services ranging from financing to insurance to property management, landlord representation, project management and development. “I’ve always enjoyed the fact that real estate is tangible. You can touch it, feel it, see the impact of it, and that has always appealed to me. Another interesting aspect of the industry is that the amount of land we have right now is all we will have. We cannot make any more real estate, so the scarcity of resources and their utility have also been very attractive to me,” he says.

His toughest challenge, he says, came in 2008: “I was 27 years old and there was no way I could have prepared for or even understood how vast the financial collapse was. It touched every industry, and it was a difficult time.”

For full story, visit https://floridatrend500.com/real-estate/andrew-wright/

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French eatery to open in downtown Orlando

Excerpted from Orlando Business Journal story.

In total, Modera Central features roughly 12,000 square feet of retail space. Negotiations continue for the remaining space, roughly 6,000 square feet, and more announcements may be coming soon.

Services and other amenities for residents would find success for the luxury tower’s remaining retail space. “Its location on Rosalind Avenue near the city garage are pros, along with its proximity to the University Club,” Tim Rogers, a senior associate with Franklin Street of Orlando, who is not involved in the deal, previously said.

For full story, visit https://www.bizjournals.com/orlando/news/2019/09/24/french-eatery-to-open-in-downtown-orlando.html

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Tenth Street Ventures, Braden Fellman Group Acquire Atlanta Multifamily Portfolio

Excerpted from GlobeSt.com story.

ATLANTA, GA–Tenth Street Ventures and Braden Fellman Group have purchased 13 apartment buildings in the Morningside / Lenox Park neighborhood of Atlanta, with plans to collectively rebrand the properties as one complex, The Piet.

The nearly $42 million transaction consists of 1960’s- and 1970’s-eras buildings, acquired from three different owners, totaling 335 units across 12.5 acres.
The Piet will be anchored by an apartment building at 2175 Lenox Rd. The firms plan to connect the buildings with walking trails, two pools, several dog parks, numerous grill stations, bocce ball courts and putting greens, creating one cohesive, garden-style apartment complex.

The firms additionally intend to unify the properties by having artist, Chastain Bernard paint the buildings’ exteriors, inspired by the neoplasticism movement, using vertical and horizontal shapes in black, white and primary colors.

CBRE finance partner Yakhin B. Israel secured $40.9 million from MF1 Capital to finance the portfolio’s acquisition and renovation. The loan was funded in two phases to accommodate the sponsors’ closing timeline. Recently, Israel and MF1 also arranged a bridge loan for the acquisition and renovation of a 67-unit apartment community in Decatur, GA for the joint-venture partners.

Franklin Street’s Atlanta multifamily investment sales team of Jake Reid, Chad DeFoor and Roger Schoerner brokered the deal. Wesley C. Turner of Krevolin & Horst served as the real estate attorney for the deal.

The transaction is part of the two firms’ strategic partnership to create affordable housing options in the Atlanta area.

For full story, visit https://www.globest.com/2019/08/26/tenth-street-ventures-braden-fellman-group-acquire-atlanta-multifamily-portfolio/

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Neptune Beach retail center Saltwater Row under development

Excerpted from Jacksonville Business Journal story.

TriBridge Residential and TLM Realty Corp announced plans for a retail and commercial development in Neptune Beach near the Beaches Town Center Monday.

The first phase will include 30,000 square feet of retail on the ground floor with a 44-room boutique hotel above the retail. The development’s first phase will include public courtyards, tree-lined streets and ample parking. Currently in the planning phase, construction on phase one is anticipated to commence in early 2020.

Plans for the second phase include an approximately 150-room upscale hotel from a national brand featuring a custom design to complement Saltwater Row’s architectural style.

“We are thrilled to announce our new and exciting vision for Saltwater Row,” said TriBridge Residential Principal of Development Katherine Mosley. “Our goal is to transform a sluggish plaza into a dynamic shopping and entertainment destination with curated retail, restaurants and hotels, attracting locals and visitors alike.”

Franklin Street Real Estate Services is actively pre-leasing Saltwater Row. The company has letters of intent and lease negotiations underway with several retailers including a brew pub, breakfast-focused café concept, lifestyle and yoga studio, gourmet donut shop, and a local clothing boutique.

For full story, visit https://www.bizjournals.com/jacksonville/news/2019/09/23/neptune-beach-retail-center-saltwater-row-under.html

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Shops, hotel and entertainment space planned for old Kmart site in Neptune Beach

Excerpted from First Coast News story.

NEPTUNE BEACH, Fla. — There are new plans for the lot where the old Kmart sits vacant in Neptune Beach. TriBridge Residential and TLM Realty announced plans Monday for shops and a hotel development called Saltwater Row.

According to developers, the first phase of the project will include space for shops on the ground floor, possibly a cafe, a brewpub and a yoga studio. A 44-room boutique-style hotel is planned for above the shops.

The second phase of the project will include a 150-room upscale hotel, according to the plans.

Some neighbors in the area protested plans before Saltwater Row to build apartments on the property. Residents Monday said they have mixed feelings about this project due to concerns about potential traffic.

“The thing that I don’t particularly like is instead of apartments, we’re getting a hotel and the hotel is going to have much more frequent turnover than the apartments would’ve had,” resident Todd James said.

“Traffic will be a concern,” resident Dina Demarco said. “I imagine that it will get a little bit worse. It’s not too insane here. It gets a little bad. I think more people will come to this area, and I don’t know if that’s necessarily a good or a bad thing.”

Most agreed, though, that anything would be better than the vacant Kmart store.

“Right now, we have that vacant Kmart center that has just been sitting there, so, really, I think getting rid of that and anything there would be an improvement,” Demarco said.

The lot has sat vacant for four years. According to a press release from the developers, the goal “is to transform a sluggish plaza into a dynamic shopping and entertainment destination with curated retail, restaurants and hotels, attracting locals and visitors alike.”

Some residents welcome the possibility of new shops, though. 

“The reason I’m excited about it is I think it’s sorely needed in this area to have some additional retail,” James said.

Demarco said as long as the new space is done right, she’s ok with it.

“I would say as long as it’s a small boutique hotel, I think that’s good for this area,” she said. “If you look at Hotel Palms, that place is great. One Ocean, that place is great. I think that those places do fill up and there’s a need for additional rooms, so I think if it’s done right, it would be a good addition.”

Construction on phase one is set to start in early 2020. The press release also notes Franklin Street Real Estate Services is pre-leasing Saltwater Row and has several letters of intent. 

A representative for the developer wasn’t available for any additional comments. 

For full story, visit https://www.firstcoastnews.com/article/news/local/shops-hotel-and-entertainment-space-planned-for-old-kmart-site-in-neptune-beach/77-5d238a62-b3fa-4f82-8b7a-38295267330c

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Ask The Expert

Ask the Expert: What amenities do industrial tenants in Florida want most?

Ask the Expert: What amenities do industrial tenants in Florida want most right now?

“Ceiling heights are rapidly becoming one of the first questions asked by tenants when doing a walk-through. Gone are the days where 18’ clear would get the job done. With land becoming more and more scarce, there is now a demand to go higher and higher. We’re certainly at a level where 32’+ clear is the new modern industrial norm. This is also backed up with the technological advancements in supply chain management and logistics. Going up is just as easy and convenient now as horizontal storage. 

I also think there is obvious change in the industrial demographic lately which is driven by speed. We’re in a world of needing everything right now. Just look up ‘last-mile distribution’ to see evidence of this. So, what does this mean regarding amenities? It means there is a need to get things out the doors quickly. Having both dock-high and grade level bay doors are musts. Which usually means a need for a ramp. 

There are also some smaller luxuries now that help cut costs. For example, T-5 lighting on automatic sensors. You’ll certainly know the difference when walking through a space that isn’t lit by T-5 lighting. It’s a must-have.”

Scott Edwards
Senior Associate, Industrial
Scott.Edwards@FranklinSt.com
O: 407.458.5400 x 0624

 
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Baldwin Park Village Center Has a 2,494 Sq Ft Retail Space Available

Excerpted from The Daily City story.

A 2,494 sq ft space in the Baldwin Park Village Center is available for rent. The single space is made up of two spaces combined into one: 4837 and 4841 New Broad Street (MAP). 

The most recent tenant closed its doors in October 2018: Vintages Boutique Wine & Craft Beer (formerly a Wine Styles franchise). 

The space is next door to Tutto Cafe and the new location of Victoria Jewelers. 

The space is managed by Franklin Street. More Info

For full story, visit https://www.thedailycity.com/post/baldwin-park-village-center-retail