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DevelopmentFloridaLeasingMixed-useNews

Three New Tenants Sign Leases at Nora District in West Palm Beach, Florida

by Hayden Spiess

West Palm Beach, Fla. — Three new tenants have signed leases at The Nora District, a mixed-use project currently underway in West Palm Beach. IGK Salon, Indaco and ZenHippo will occupy 2,347; 2,945; and 1,369 square feet at the property, respectively. The first phase of Nora District — which is being developed by a partnership between NDT Development, Place Projects and Wheelock Street Capital — is scheduled for completion in early 2025. Upon completion, Phase 1 will feature 150,000 square feet of retail, office and hospitality space. Other retail tenants at …

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ArizonaFinanceFloridaIllinoisNewsOhioOregon

Pine Tree Receives $247 Million Loan for Shopping Center Portfolio

by Hayden Spiess

Oak Brook, III. —  Pine Tree has received a $247 million loan from New York Life Real Estate Investors for portfolio of six shopping centers located in Florida, Arizona, Oregon and Ohio. Pine Tree acquired the properties earlier this year in partnership with an undisclosed state pension fund for $495 million. The centers include The Fountains in Plantation, Florida (430,000 square feet); Arrowhead Crossing in Phoenix (362,000 square feet); Easton Market (501,000 square feet) and Polaris Towne Center (459,000 square feet) in Columbus, Ohio; Kenwood Square in Cincinnati (424,000 square feet); and Tanasbourne Town Center in Hillsboro, Oregon (300,000 square feet). Tenants at the centers, which were 95 percent leased at the time of financing, include Nordstrom Rack, Ulta Beauty, Target, Dick’s Sporting …

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FloridaInvestment salesNews

Colliers Brokers Sale of 125,538-Square-Foot Shopping Center Near Orlando

by Hayden Spiess

Casselberry, Fla. — Colliers has brokered the sale of Casselberry Exchange, a 125,538-square-foot shopping center located in the Orlando suburb of Casselberry. Funds managed by affiliates of Apollo sold the property to RD Management. According to the Orlando Business Journal, the sales price was $13 million. Tenants at the center, which is situated on 15.7 acres, include Starbucks Coffee, Einstein Bros. Bagels, Fresenius Kidney Care, Amscot and Little Caesars Pizza. The property also features three vacant spaces totaling 83,497-square-feet, as well as a gas station outparcel formerly occupied by 7-Eleven. Brad Peterson …

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FloridaInvestment salesNews

IPA Arranges $30 Million Sale of Shopping Center Near Tampa, Florida

by Hayden Spiess

Wesley Chapel, Fla. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $30 million sale of Village Market at Wesley Chapel, a 98,547-square-foot shopping center located in Wesley Chapel, a suburb of Tampa. The property — which comprises five freestanding, net-leased buildings — was fully occupied at the time of sale. Kirk Olsen and Drew Kristol represented the seller, Wesley Chapel SC Co. Ltd., and procured the buyer, an affiliate of JBL Asset Management, in the transaction. A 30,537-square-foot Crunch Fitness anchors the center, which was …

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FloridaGrocery-anchoredInvestment salesNews

CTO Realty Growth Acquires Retail Center in Metro Tampa for $16.8 Million

by Hayden Spiess

Dunedin, Fla. — CTO Realty Growth Inc. has acquired Granada Plaza, a 74,000-square-foot retail center located in the Tampa suburb of Dunedin. Publix anchors the property, which was 95 percent leased at the time of sale. An undisclosed seller sold the property for $16.8 million. According to LoopNet Inc., Granada Plaza was developed in 1983.

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DevelopmentFloridaNews

Westlake Palms to Develop 10,400-Square-Foot Retail Center in Southeast Florida 

by Hayden Spiess

Westlake, Fla. — An entity doing business as Westlake Palms, led by Don Hearing, has announced plans to develop a 10,400-square-foot retail center in Westlake in southeast Florida. Upon completion, the property, dubbed Westlake Palms, will comprise a multi-tenant building with seven tenant suites ranging from 1,305 square feet to 1,648 square feet in size. Situated within the Westlake master-planned community, the development will also feature 48 parking spaces, two electric vehicle charging spaces and bike storage. The project is fully pre-leased to tenants including an optometrist, dentist, orthodontist and café. …

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CaliforniaCompany newsFloridaLeasingNewsRestaurants

Sip Fresh to Open New Stores in California, Florida

by Hayden Spiess

Temecula, Calif. and Orlando, Fla. — Beverage concept Sip Fresh has announced plans to open stores in Temecula, California, and Orlando, Florida. Situated within Promenade Temecula, the new venue is scheduled to open in early 2025. Franchisee Kevin Tam will own and operate the unit. The Florida store will be located within Florida Mall. Each store will total roughly 1,200 square feet. 

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FloridaInvestment salesNews

Marcus & Millichap Brokers $10.1 Million Sale of Retail Center in West Palm Beach, Florida

by Hayden Spiess

West Palm Beach, Fla. — Marcus & Millichap has brokered the $10.1 million sale of Cross County Plaza, a retail center located in West Palm Beach. K&G Fashion Superstore and dd’s Discounts anchor the property, which totals 49,451 square feet. Other tenants at the center include Presidente Supermarket, Ross Dress for Less, YouFit Health Clubs and Ollie’s Bargain Outlet. Douglas Mandel, Zach Levine and Josh Gilbert of Marcus & Millichap represented the undisclosed seller in the transaction and procured the buyer, Pliskin Realty. 

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FloridaInvestment salesNews

Marcus & Millichap Negotiates $15.5 Million Sale of Shopping Center in Lakeland, Florida

by Hayden Spiess

Lakeland, Fla. — Marcus & Millichap has negotiated the $15.5 million sale of Northtowne Square, a 96,009-square-foot shopping center located in Lakeland. Built in 1988, the property was fully leased at the time of sale. Tenants at the property include Harbor Freight Tools, Fancy Fruit & Produce and Brewlands Bar & Billiards. Tarek Chbeir of Marcus & Millichap represented the seller in the transaction, and Garrett Fierstein of Marcus & Millichap Capital Corp. (MMCC) arranged $6.5 million in acquisition financing on behalf of the buyer. 

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FloridaInvestment salesNews

Institutional Property Advisors Brokers $17 Million Sale of Seven Hills Plaza in Metro Tampa

by Katie Sloan

Spring Hill, Fla. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $17 million sale of Seven Hills Plaza, an 87,286-square-foot retail center located roughly 50 miles north of Tampa in Spring Hill. Planet Fitness and Walgreens anchor the center, which was fully occupied at the time of sale. Additional tenants include Altitude Trampoline Park, AFC Urgent Care, Rehability, Okinawa Ramen Restaurant, GNC and Nails So Happy. Kirk Olson and Drew Kristol of IPA represented the seller, Continental Realty Corp., and procured the buyer, Bezrat H. …

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