LQ Commercial has expanded its team with the addition of industry veteran Arnold Sevell, extending the firm’s coverage along Florida’s East Coast. Sevell has completed more than half a billion dollars in transactions and overseen the development of one million square feet of commercial product over the course of his career. His work spans South Florida, Port St. Lucie, Daytona Beach and Jacksonville, bringing experience across retail, office and land assignments. Earlier in his career, Sevell held senior leadership roles as a development Executive Vice President and Chief Operating Officer and has previously served as a South Florida court-appointed receiver.
In Jacksonville, Acorn Property Holdings has completed the sale of Butler Pointe, a 151,815-square-foot office building. The asset traded for $14.7 million, representing a 22 percent premium to its 2015 sale price. The transaction was arranged by NAI Hallmark, underscoring continued investor interest in well-located office properties that can demonstrate pricing gains over prior cycles.
Affordable housing development activity continues in Central Florida, where The NRP Group has closed financing and broken ground on Alora Lofts in Kissimmee. The 88-unit community is located approximately 18 miles south of Orlando and is designed to serve individuals and families earning between 30 percent and 70 percent of Area Median Income. Construction is underway, with completion targeted for December 2027, adding new income-restricted housing supply to the regional pipeline.
On the industrial and self-storage side, Basis Industrial has announced a leadership change alongside continued portfolio growth. Anthony Scavo has assumed the role of CEO and managing partner, taking responsibility for the company’s overall vision, investment strategy and long-term growth initiatives, while overseeing the executive leadership team. Basis Industrial now controls more than 10 million square feet of multi-tenant industrial and self-storage assets nationally, with an additional 2 million to 3 million square feet expected by the end of 2026. The firm has also elevated Nisha Patel to the role of chief operating officer, adding further depth to its senior management structure.
Together, these updates reflect ongoing hiring, transaction and development activity across Florida’s commercial real estate landscape, spanning office, industrial, self-storage and affordable residential sectors.
