This Week's South Florida Deal Sheet: JLL Names New South Florida Market Leader
The world's second-largest commercial real estate services firm has named a new leader of its South Florida team.

JLL has promoted Dan McGowan to local market head following the retirement last month of Rod Barnes, a 15-year JLL veteran, according to a release.
McGowan, whose career spans more than two decades, was promoted from executive managing director. He was the former broker lead for JLL’s Rocky Mountain region in Denver and achieved more than 25% revenue growth, built teams in retail, industrial and office sectors, and recruited talent in data centers and healthcare areas, according to the release.
He will continue serving Rocky Mountain clients with the support of local teams while working in South Florida.
SALES
An entity tied to Valoro Capital purchased the Meridian Center office building in Miami Beach from an affiliate of Market Street Real Estate Partners for $22.7M, according to property records provided by Vizzda.
Originally built in 1957 with two stories, the building was renovated and expanded in 2021 to six stories, each averaging about 9K SF. The renovation also included a new lobby, hurricane-resistant windows, 12-foot ceilings, ground-floor retail and new restrooms, according to a LoopNet listing.
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An entity tied to Sarasota-based Kapstone purchased the Radisson Red Miami Airport hotel for $37.3M from an entity linked to Riviera Point Development Group, The Real Deal reported.
Kapstone, led by Marc Gagliardi, purchased the property for $22M in cash and assumed the seller's $15.3M loan from Centennial Bank that dates to September 2020.
The 157-room, six-story hotel at 3401 NW 25th St. spans almost 90K SF. Riviera developed the hotel in 2021 after paying $2.9M for the site in 2015.
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Bellevue, Washington-based Terreno Realty purchased a three-building logistics park named Doral Air Logistics Center for $195.6M, according to a release.
Foundry Commercial and GLP Capital Partners delivered the 495K SF project in 2022, Connect CRE reported. The three-building property at 7855, 7755 and 7725 NW 41st St. has 36-foot clear span heights and 116 dock doors.
The building is 77% leased by six tenants. CBRE’s Jose Lobón, Frank Fallon, Trey Barry and Royce Rose and team represented the seller.
FINANCING
The Calta Group, led by brothers Ignazio and Gaetano Caltagirone, secured a $30M construction loan from Miami-based Banesco USA for the development of Via Veneto, according to a release.
The luxury townhome project in Coral Gables will include three-story townhomes, each more than 5,500 SF. The residences will include private terraces, outdoor kitchens and a shared courtyard. The project is expected to break ground in the spring.
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Vizcaya Capital secured a $25.2M construction loan from City National Bank for an office building in Coconut Grove, Traded reported.
Vizcaya is set to build a five-story, 33K SF office building with a rooftop deck and terraces at 2871 Oak Ave. The loan is expected to cover construction, build-out and leasing costs for potential tenants. The project is expected to be ready for tenants in 2026, according to a LoopNet listing.

CONSTRUCTION AND DEVELOPMENT
Mutual of America Life Insurance Co. received approval from the Boca Raton Planning and Zoning Board for a 287-unit apartment complex at The Park at Broken Sound, a 700-acre mixed-use development.
The project consists of a seven-story building with 2K SF of retail at 1150 NW Broken Sound Parkway. Out of the units, 29 will be rented as affordable housing and 15 will be designated for workforce housing.
The proposal replaces previously approved plans for a seven-story office building with a six-level parking structure.
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Lending and investment firm BDT & MSD Partners proposed an eight-story condo building for the Boca Raton club and resort at 501 E. Camino Real, Commercial Observer reported.
BDT & MSD plan to build a 60-unit project with a 142-space garage on a 4-acre lot. The 260K SF building would replace a maintenance facility. The developers are seeking approval to exceed zoning height regulations for the 100-foot-tall building.
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Steve Hudson, co-founder of Hudson Capital Group, and Charlie Ladd, president of Barron Estate, revised initial plans for a 10-story hotel on East Las Olas Boulevard, The Real Deal reported. Hudson and Ladd acquired the site in 2016 for $8.3M.
Now referred to as the Whitfield, the project's hotel room count has shrunk from 138 to 81 rooms, replaced in the plans with 17 condos, including two penthouses priced at $15M. The 12th floor will feature a pool, cabanas, a café and private dining rooms. The Whitfield condos are priced starting at $3.7M, and room rates will range from $800 to $900 a night. Construction is expected to finish in 2027.
LEASES
Luxury furniture brand Enne leased 6K SF at the 4225 Ponce office and retail building in Coral Gables’ Merrick Park, according to a release.
Constellation Group and The Boschetti Group purchased the site in 2022 for $10M and broke ground on the project at 4225 Ponce De Leon Blvd. at the beginning of 2024. The building, designed by Miami-based Arquitectonica, is expected to finish in the third quarter with private terraces, valet service, rooftop amenities and ground-floor retail.
Colliers’ Jonathan Carter and Pablo Camposano represented the landlord, Constellation Group.
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Industrial Outdoor Ventures inked a 43K SF lease for two buildings at the Davie Industrial Center at 3055 Burris Road, according to a release.
Doka USA, a company that specializes in formwork technology for construction, leased 9 acres that will serve as its South Florida regional hub. The company will use the space for warehousing, storage and maintenance of construction equipment, including scaffolding and formwork. It expects to be fully operational in April after completing the build-out of its office space.
The lot features 24-foot clear ceiling heights, 36 grade-level doors, 18 drive-thru service bays and has the capacity to park 115 truck trailers.
CBRE’s Larry Genet and Tom O’Loughlin represented Industrial Outdoor Ventures in the transaction.