Jacksonville, Fla. — SRS Real Estate Partners has arranged the $11.1 million sale of Shops at Race Track, a nearly 17,000-square-foot retail center located at 4560 Race Track Road in Jacksonville. Situated on 2.4 acres within the Durbin Park master-planned community, the property was fully leased at the time of sale to six tenants including Heartland Dental, Dep Nails and Avecina Medical. Patrick Nutt and William Wamble of SRS represented the seller, a national real estate development and investment firm, in the transaction. Sean McGill of Cantrell & Morgan represented …
Melbourne, Fla. — Second Horizon Capital has acquired Melbourne Square, a 710,000-square-foot retail center in Melbourne, a city on Florida’s Space Coast. A joint venture between Neuberger Berman and Cross Ocean Partners arranged the sale. According to the Orlando Business Journal, the shopping center sold for $56.3 million on March 2. Second Horizon Capital has implemented a capital improvement program, which will comprise supporting community engagement, center operations, building upgrades and expanding programming and partnerships with local organizations and businesses. CBRE will handle leasing and property management at the center. …
California, Virginia, Florida and Texas — A joint venture between Bain Capital and 11North Partners has acquired five open-air retail centers for approximately $300 million. The properties total roughly 757,000 square feet and are located in Carlsbad, California; Falls Church, Virginia; Altamonte Springs, Florida; and Sugar Land, Texas. The seller was not disclosed. Anchor tenants of the portfolio include Harris Teeter, Trader Joe’s, Walmart, Costco and Equinox, with sales from those anchor stores exceeding $900 per square foot. The portfolio, which was more than 93 percent occupied at the time …
West Kendall, Fla. — MMG Equity Partners is under contract to acquire a 5.1-acre site within Kendall Town Center, a 70-acre master-planned community in West Kendall. The project, called The Shops at Kendall Town Center, will feature 35,810 square feet of restaurants and shops and 4,321 square feet of outdoor terrace space. The developer has submitted plans to Miami-Dade County and is currently seeking administrative site plan approval. The site is located at the intersection of North Kendall Drive (SW 88th Street) and Southwest 158th Avenue. MMG has selected Ed …
Lutz, Fla. — SRS Real Estate Partners has brokered the $6.6 million ground lease sale of two adjacent retail properties located at 18640 and 18710 Fla. Highway 54 in Lutz, a northern suburb of Tampa in Hillsborough County. Dutch Bros and Fifth Third Bank occupy the two newly developed properties on triple-net leases, with 15 and 20 years remaining on their terms, respectively. Patrick Nutt and William Wamble of SRS represented the seller, an Atlanta-based development and investment group, in the portfolio transaction. The Tampa-based buyer purchased both properties in …
Palm Beach Gardens, Fla. — DLC and Principal Asset Management have acquired Legacy Place, a 419,963-square-foot lifestyle center located in the South Florida city of Palm Beach Gardens. Lone Star Funds, who purchased the property in 2021, is expected to have sold the property for more than $100 million, according to the South Florida Business Journal. Legacy Place was 93 percent leased at the time of sale and features a mix of over 75 retailers, restaurants and entertainment venues. Tenants include Capital Grille, Eddie V’s, Best Buy, Michaels, Aritzia, Madewell, Shake …
Sarasota, Fla. — Torburn Partners, a real estate development and investment firm based in Chicago, and leasing and placemaking partner Jamestown are moving forward with Sarasota Square, a mixed-use redevelopment of the former Sarasota Square Mall. The mixed-use development spans nearly 100 acres at the corner of South Tamiami Trail and Beneva Road in Sarasota. Sarasota Square Mall originally opened in September 1977 and closed in December 2024. Phase I of the project, which is expected to be delivered in the first quarter of 2027, will introduce approximately 90,000 square …
Fort Myers, Fla. — JLL has arranged the sale of Daniels Crossing, a 110,780-square-foot neighborhood center located in Fort Myers. Danny Finkle and Jorge Portela of JLL represented the seller, a joint venture between Forge Capital Partners and The Sembler Co. Publix Super Markets was the buyer. The property, which is anchored by a newly redeveloped Publix, was fully leased at the time of sale. Additional tenants include Quest Diagnostics, Hope Chest Hospice, Millennium Physician Group and The UPS Store.
Altamonte Springs, Fla. — 11North Partners has acquired West Town Corners, a 285,497-square-foot retail center located in Altamonte Springs, roughly 16 miles north of Orlando. Winn-Dixie anchors the property, which features a mix of additional tenants including PetSmart, T.J. Maxx, Five Below, Panera Bread, Bath & Body Works, Crumbl Cookies and American Signature Furniture. Danny Finkle and Jorge Portela of JLL represented the seller in the transaction. Washington Prime Group sold the property for $59.5 million, according to several media outlets.
Longwood, Fla. — Cushman & Wakefield has negotiated the sale of the Shoppes of Sweetwater, a 64,253-square-foot Publix-anchored center located in Lakewood, roughly 15 miles north of Orlando. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, an entity doing business as Shoppes of Sweetwater Inc. Washington, D.C.-based Graphite Real Estate was the buyer. The property, which was 94 percent leased at the time of sale, features a mix of tenants such as CVS Pharmacy, The Hummus Corner, Li’s Garden Chinese Restaurant, Aca-Pulquito Cocina Mexicana, …
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