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That’s So Tampa: Union New American, a 2-floor dining experience, will open at Westshore City Center

Union New American will be the first restaurant concept from Next Level Brands Holdings LLC, a group led by restaurateur Jeff Gigante. The concept will debut at the Westshore City Center.

Jeff Gigante, the visionary restaurateur who has delivered some of the most tantalizing and celebrated restaurants in the entire region, is ready to debut the next big thing in Tampa with Union New American at Westshore City Center.

Demolition work is set to start today at Westshore City Center to prepare the land for the restaurant build-out at 1111 N. Westshore Blvd. The brand new two-story 9,358-square-foot restaurant space will feature indoor and outdoor dining. The build-out for the restaurant will be designed by Atelier Zebulon Perron, showcasing a contemporary and upscale ambiance.

“Located in the heart of Tampa’s booming Westshore district, Westshore City Center is the perfect location for our first restaurant concept with Next Level Brands,” said Gigante. “We are thrilled to be bringing a high-quality, locally owned dining experience to the area and look forward to introducing our New American cuisine and first-class hospitality to the Tampa Bay community.

Preparing for a fall debut

Tampa-based Ally Capital Group acquired Westshore City Center in early 2019 and selected Franklin Street to oversee leasing, management and project management for the property. Franklin Street has hired VCC, LLC for demolition of the existing building.  

The demolition of the Annex B building and existing two-story structure at Westshore City Center marks a crucial step in the project’s multimillion-dollar redevelopment.

“From the very beginning, Ally Capital Group’s vision for Westshore City Center has been to create a true mixed-use destination that blends newly renovated office campus with exceptional retail, dining and entertainment options that attract a regional audience,” said Matthew Chadwick, Director of Ally Capital Group. “It’s also important to us to support local concepts born in Tampa Bay, which makes Union New American an exciting and fitting addition to this property.”

Reimagining Westshore City Center in Tampa

Built in 1975, Westshore City Center is comprised of five office buildings totaling 300,000 square feet on 10.4 acres. Under Ally Capital Group’s ownership and Franklin Street’s management, the property has received significant cosmetic and structural improvements to create a modernized aesthetic and greater focus on walkability and outdoor space. 

Read more from That’s So Tampa.

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Tampa Bay Business Journal: Exclusive: Tampa restaurateur Jeff Gigante unveils new concept for Westshore

Tampa restaurateur Jeff Gigante‘s latest venture is Union New American, a two-story restaurant that will rise in the city’s Westshore business district.

Union New American is the first concept from Next Level Brands, a hospitality company Gigante formed with co-CEO Joseph Guggino and Tampa real estate executive Andrew Wright. The restaurant will be built on the site of a former office building at 1111 N. Westshore Blvd. That property, part of office park Westshore City Center, is owned by Wright’s Ally Capital.

The 9,358-square-foot restaurant will offer both indoor and outdoor dining and a “contemporary, upscale ambiance.” The second floor will include private event space and offer live music and dining in an outdoor terrace lounge. It will serve “traditional American fare inspired by global ingredients” and be open for lunch, dinner and weekend brunch.

Union New American is expected to open in fall 2021.

Read more from Tampa Bay Business Journal.

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Next Level Brands to Open Union New American Restaurant in Westshore City Center

Next Level Brands to open its first restaurant concept in Westshore Business District Development

TAMPA, FL (APRIL 29, 2021) – Led by hospitality veteran and successful restauranteur Jeff Gigante, Next Level Brands Holdings LLC will open its first restaurant concept, Union New American, at Westshore City Center.

Demolition work is set to start today at Westshore City Center to prepare the land for the restaurant build-out at 1111 N. Westshore Blvd. The brand new two-story 9,358-square-foot restaurant space will feature indoor and outdoor dining. The build-out for the restaurant will be designed by Atelier Zebulon Perron, showcasing a contemporary and upscale ambiance.

“Located in the heart of Tampa’s booming Westshore district, Westshore City Center is the perfect location for our first restaurant concept with Next Level Brands,” said Gigante. “We are thrilled to be bringing a high-quality, locally owned dining experience to the area and look forward to introducing our New American cuisine and first-class hospitality to the Tampa Bay community.”

Union New American will feature traditional American fare inspired by global ingredients. In addition to lunch, dinner and weekend brunch, Union will have a second-floor private event space and offer live music and dining in an outdoor terrace lounge.  Union New American is scheduled to deliver fall 2021.

In October 2020, Gigante announced a new partnership with local entrepreneurs Andrew Wright and Joseph Guggino to launch Next Level Brands. The company expects to open several elevated restaurant concepts around Tampa Bay area focused on a culture of hospitality and centered around exceptional service and iconic spaces.

Tampa-based Ally Capital Group acquired Westshore City Center in early 2019 and selected Franklin Street to oversee leasing, management and project management for the property. Franklin Street has hired VCC, LLC for demolition of the existing building. 

The demolition of the Annex B building and existing two-story structure at Westshore City Center marks a crucial step in the project’s multimillion-dollar redevelopment.

“From the very beginning, Ally Capital Group’s vision for Westshore City Center has been to create a true mixed-use destination that blends newly renovated office campus with exceptional retail, dining and entertainment options that attract a regional audience,” said Matthew Chadwick, Director of Ally Capital Group. “It’s also important to us to support local concepts born in Tampa Bay, which makes Union New American an exciting and fitting addition to this property.”

Built in 1975, Westshore City Center is comprised of five office buildings totaling 300,000 square feet on 10.4 acres. Under Ally Capital Group’s ownership and Franklin Street’s management, the property has received significant cosmetic and structural improvements to create a modernized aesthetic and greater focus on walkability and outdoor space.

Recent improvements include new landscaping, pavement, and walkways across the entirety of the campus.  Ongoing improvements include new energy efficient windows, updated common spaces, elevators, and restrooms, with modern fixtures and artwork.

Earlier this year, First Watch, a Tampa-based breakfast and brunch café, became the first restaurant tenant announced for Westshore City Center. Heritage Insurance, one of Florida’s leading property insurance providers, announced in the fall of 2020 that it will relocate its corporate headquarters to Westshore City Center with an 88,643-square-foot, full-building lease.

About Westshore City Center:  Owned by Tampa-based Ally Capital Group, Westshore City Center is located at 1111, 1211, 1311, 1401 and 1411 N. Westshore Blvd.  Westshore City Center is adjacent to International Plaza and offers convenient access to Tampa International Airport. The location also provides excellent connectivity throughout the Tampa Bay area via Interstate 275, the Howard Frankland Bridge, and the Veterans Expressway.

About Franklin Street: Founded in 2006 during one of the toughest real estate climates, Franklin Street focuses on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its lines of business, Franklin Street has grown to include seven business divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management. With more than $5 billion in transaction value across all major product types, Franklin Street offers unmatched value and optimal solutions for clients nationwide.  Headquartered in Tampa, Fla., the company has offices in Fort Lauderdale, Jacksonville, Miami, Orlando and Atlanta. Learn more about Franklin Street at FranklinSt.com.

About Next Level Brands:  Led by hospitality veteran and successful restauranteur Jeff Gigante, Next Level Brands Holdings LLC will be a collection of innovative dining experiences designed to elevate the culinary landscape of Tampa Bay.  Inspired by the culture of hospitality, concepts will be warm and inviting gathering spaces with innovative cuisine and first-class service. For more information, visit:  www.nxtlevelbrands.com.

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Franklin Street Represents Atlanta-Based gusto! in Lease for New Athens Location

The lease marks the growing chains 9th location and first outside of metro Atlanta

ATLANTA (April 22, 2021) – Franklin Street has represented gusto!, an Atlanta-based, fast-casual restaurant group, in the lease of a 2,700-square-foot prototypical gusto! building to be built in Athens, Georgia. The new space, at 161 Alps Road, near the University of Georgia, will be the growing group’s ninth shop, and first location outside of the metro Atlanta area.

Franklin Street Senior Director Greg Eisenman negotiated the transaction on behalf of gusto!, with assistance from Senior Associate Jessica Branch, and has now represented the tenant in the procurement of seven of its locations. The landlord is Three B Associates, LLC.

“gusto! has become a local staple in Atlanta, well-loved for its fresh, bowls, salads and wraps,” said Eisenman. “This new location in Athens is a natural next step for gusto! and demonstrates the brand’s strength and popularity beyond its hometown. As alumni of the University of Georgia, Jessica and I could not be prouder and more excited for this homegrown brand to open its doors in the Classic City. We are pleased to have helped them secure the perfect spot as they continue to grow.”

Slated to open in late 2021, gusto! Athens is to be built from the ground up, with construction managed by Franklin Street Project Management. The location will be gusto!’s third with a drive-thru, following their existing location in Chamblee and one in East Cobb, slated to open later this year, reflecting a growing trend in the fast-casual dining industry. It will also offer counter-service with indoor and outdoor dining, as well as online ordering for takeout and delivery options through third-party partners.

About Franklin Street:

Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its lines of business, Franklin Street has grown to include seven business divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management. With more than $5 billion in transaction value across all major product types, Franklin Street offers unmatched value and optimal solutions for clients nationwide.  Headquartered in Tampa, Fla., the company has offices in Fort Lauderdale, Jacksonville, Miami, Orlando and Atlanta. Learn more about Franklin Street at FranklinSt.com.

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Franklin Street Arranges $41.55M Sale of 230-Unit Multifamily Community in South Florida

Covenant Capital Group Acquired Waterleaf Townhomes & Apartments in Port St. Lucie from Investors Management Group

PORT ST. LUCIE, FL (April 6, 2021) – Franklin Street has arranged the sale of Waterleaf Townhomes & Apartments, a 230-unit multifamily rental property in Port St. Lucie. Nashville-based Covenant Capital Group, a real estate private equity firm, acquired the asset for $41.55 million, or $180,652 per unit.

Franklin Street’s Tampa-based multifamily investment sales team of Darron Kattan, Zach Ames, Avery Jordan, and Mark Savarese arranged the transaction on behalf of the seller, Investors Management Group, Inc. (IMG).

IMG acquired the property in 2017 for $26.75 million and implemented a multimillion-dollar capital improvement program that involved renovating unit interiors as well as common areas and amenities. Renovated units have been attracting monthly rental rate premiums averaging $200. Covenant Capital Group plans to continue value-add improvements throughout the community.

“This asset commanded over 20 qualified offers in a non-core market, demonstrating the continued strength of Florida’s multifamily investment sales market, especially when it comes to value-add opportunities,” said Kattan. “With IMG’s recent renovations, Waterleaf Townhomes & Apartments is now competitive with newer rental communities in the surrounding area, giving Covenant Capital a solid foundation as they make additional revenue-growing improvements.”

Waterleaf Townhomes & Apartments is situated on nearly 22 acres at 1942 SE Hillmoor Drive in Port St. Lucie, a city on Florida’s East Coast known for its award-winning PGA Village golf resort, hosting the New York Mets’ spring training camp and proximity to award-winning beaches. Further, the apartment community sits right across the street from the 56-acre Woodstork Trail and Hillmoor Lake Park, where residents can enjoy shore-line fishing and walking / biking trails.

The property consists of 35 buildings, built in two phases between 1990 and 1994. Units range from 1,150 to 1,214 square feet, each with three bedrooms and either two or 2.5 bathrooms. Amenities include two sparkling pools, a brand-new 24/7 state-of-the-art fitness center, a dog park, sand volleyball courts, a playground, and a play court with rentable outdoor games. The property was 98% occupied at the time of sale.

About Franklin Street:

Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its lines of business, Franklin Street has grown to include seven business divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management. With more than $5 billion in transaction value across all major product types, Franklin Street offers unmatched value and optimal solutions for clients nationwide.  Headquartered in Tampa, Fla., the company has offices in Fort Lauderdale, Jacksonville, Miami, Orlando and Atlanta. Learn more about Franklin Street at FranklinSt.com.

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Southeast Real Estate Business: IMG Sells Apartment Community in Port St. Lucie, Florida for $41.6M

Waterleaf Townhomes and Apartments is located on the east side of Florida and is situated 6.9 miles from Jensen Beach and 47 miles from West Palm Beach.

PORT ST. LUCIE, FLA. — Investors Management Group Inc. has sold Waterleaf Townhomes and Apartments, a 230-unit community located at 1900 SE Hillmoor Drive in Port St. Lucie. Covenant Capital Group purchased the property for $41.6 million. Darron Kattan of Franklin Street’s Atlanta office represented IMG in the transaction.

Waterleaf Townhomes and Apartments is located on the east side of Florida and is situated 6.9 miles from Jensen Beach and 47 miles from West Palm Beach.

Read more from Southeast Real Estate Business.

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GlobeSt.com: Investors Management Group Sells Florida Multifamily for $41M

Investors Management Group Inc. has sold a 230-unit multifamily community in Port St. Lucie, Fla., to Covenant Capital Group for $41.6 million.

The apartment community, Waterleaf Townhomes and Apartments, is located at 1900 SE Hillmoor Dr. in the southern Florida city.

IMG will exchange the proceeds of the sale with its investors, as part of a long-term multifamily investment strategy.

IMG originally acquired the property in 2017 for $26.8 million, prior to investing $3.1 million in the property for renovations in the townhome’s interiors, the fitness center, the pools, sports park and other common-area amenities. The renovations and upgrades implemented by IMG secured an average $200 premium from renters.

Franklin Street’s Darron Kattan represented IMG in the recent disposition.

Read more from GlobeSt.com.

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Business Observer: Tampa groups give awards, establish leaders

The Westshore Alliance has named veteran commercial real estate professional Patrick Kelly to be president of its board for 2021.

The group, with more than 400 business and community members, works to promote and enhance the Westshore Business District in suburban Tampa.

Kelly, who has four decades of CRE experience working with Franklin Street, Redstone Commercial, Grubb & Ellis and Vantage Cos., was a founding member of the alliance in 1983. He has also worked on some of Westshore’s most prominent office and mixed-use projects.

“Westshore has experienced incredible growth over the years, going from an office district to what is now a nationally known hub for high-quality retail, dining, entertainment and hospitality, as well as an increasingly popular place to live,” Kelly says, in a statement.

Kelly says the group’s focus throughout 2021 will be to improve connectivity and walkability and advocate for better transportation infrastructure.

The district is home to more than 4,000 businesses, over 250 restaurants, 350 retail stores, 7,000 hotels rooms and 15,000 residents. There are also more than two dozen new projects underway with a total investment exceeding $1 billion.

In addition to Kelly, a regional managing partner at Franklin Street, a pair of other area real estate executives have been named to the group’s executive committee.

Andrew Wright, Franklin Street’s CEO, and Cousins Properties’ Patrick Gehm are two of nine executive committee members for the next year.

Read more from Business Observer.

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Now Habersham: TJ Maxx, Bealls to locate in old Cornelia K-Mart

There aren’t any more blue light specials, but there could be plenty of good deals coming soon to the old Kmart shopping center in Cornelia.

A commercial real estate firm in Atlanta announced this week that TJ Maxx and Bealls Outlet are opening up shop in the Habersham Village Shopping Center off of Highway 441. The discount retailers will rent two of the four 22,000-square-foot stores subdivided from the original Kmart space.

Vanguard Associates owns the property. Franklin Street Director Sam Krueger represented Vanguard Associates in both leases, while Senior Vice President Monetha Cobb arranged the lease for Bealls Outlet.

Bealls Outlet is expected to open this fall, and TJ Maxx plans to open in the spring of 2022. With an existing lease by Planet Fitness, Habersham Village has one junior anchor space available to accommodate a tenant between 10,000 and 18,000 square feet.

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Franklin Street Arranges Leases with TJ Maxx and Bealls Outlet at North Georgia Shopping Center

The new-to-market tenants will occupy part of a former Kmart space that was subdivided into four junior anchor units

ATLANTA (March 18, 2021) – Franklin Street, a full-service commercial real estate firm, is bringing two new major retailers, TJ Maxx and Bealls Outlet, to a shopping center in Cornelia, Georgia, approximately 85 miles northeast of Atlanta. The two leases, for 22,000 square feet each, were signed after subdividing a vacant “big box” space, previously occupied by Kmart, into four junior anchor spaces. 

The property, owned by Vanguard Associates, is a 147,182-square-foot shopping center at 201 Habersham Village Circle. At the intersection of Highway 441 and I-985, the property is situated in a major retail corridor in northeast Georgia that draws regional visitors.  

Franklin Street Director Sam Krueger represented Vanguard Associates in both leases, while Senior Vice President Monetha Cobb arranged the lease for Bealls Outlet.

Bealls Outlet is expected to open this fall and TJ Maxx plans to open in spring of 2022. With an existing lease by Planet Fitness, Habersham Village has one junior anchor space available that can accommodate a tenant between 10,000 and 18,000 square feet.

“As we continue to navigate the retail market through the pandemic, the ability to be flexible and innovative though strategies like reimagining the use of vacant big box spaces has been critical,” said Kreuger. “By subdividing this former Kmart space, we were able to bring more goods and services – and value – to Habersham Village and its surrounding community.”

Other tenants within the shopping center include Big Lots, Hibbett Sports, Anytime Fitness, Papa John’s, GNC and Burger King. Other major retailers in the area include Walmart and Lowe’s.

For more information about availabilities at Habersham Village, contact Sam Kreuger at sam.kreuger@franklinst.com

About Franklin Street:

Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its lines of business, Franklin Street has grown to include seven business divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management. With more than $5 billion in transaction value across all major product types, Franklin Street offers unmatched value and optimal solutions for clients nationwide.  Headquartered in Tampa, Fla., the company has offices in Fort Lauderdale, Jacksonville, Miami, Orlando and Atlanta. Learn more about Franklin Street at FranklinSt.com