The approximately125,000-square-foot mixed-use project will feature four buildings with 127 residential units, approximately 8,000 square feet of retail and office space, and 20,000 square feet of green space
Formerly of Marcus and Millichap, the pair has been chosen to lead the newly formed ‘ROI Partners’ (Retail, Office, and Industrial) at SVNCP.
The brokerage plans to open two offices in South Florida and two others in Tampa and Orlando.
Prakas & Co. owner and restaurant consultant Tom Prakas along with sales associates Chas Prakas and Athan Prakas II exclusively represented the buyer and seller in the sale.
The frequent joint venture partners have a contract to acquire nearly 15 acres for the future construction of the Shoppes @ the Heart of Tradition.
The lease deals are an indication that the South Florida retail market is bouncing back faster than expected from the dark days of the pandemic, according to the landlord.
Tricera Capital obtained $50.75 million in financing for the adaptive re-use project.
Records show Colorado real estate investor and developer Mark Hunt is on the buyer’s side of the off-market sales.
Tricera expects to deliver the Joseph’s space in mid-2022.
Kirk Olson and Drew A. Kristol represented the seller, an institutional investor with several offices throughout the country and procured the buyer, Benderson Development.