Florida

Orion Acquires 10,174-Square-Foot Walgreens-Occupied Building in Key West, Florida

by Hayden Spiess August 31, 2023

Key West, Fla. —Orion Buying Corp. has acquired a 10,174-square-foot property located in Key West for $5.3 million. Walgreens occupies the building, which formerly housed the historic Strand Theater and also includes two residential apartments. Kevin Sanz of Orion Real Estate Group represented Orion Buying Corp., which is comprised of entities doing business as Limestone Ruby Raleigh LLC, Limestone Ruby Loganville LLC and Limestone Ruby Lithia Springs LLC. Brian Pfohl of CBRE represented the seller, Walgreens Co. Ocean Bank is providing financing for the transaction.

August 31, 2023

Development Florida Leasing Mixed-use News Restaurants

Four Restaurants to Open at $6 Billion Miami Worldcenter Development in Florida

by Hayden Spiess August 31, 2023

Miami, Fla. — Four restaurants will join the food-and-beverage lineup at Miami Worldcenter, a 27-acre, $6 billion mixed-use development currently underway in Miami. Serafina and Sixty Vines will lease 8,176 square feet and 8,672 square feet, respectively. NDM Hospitality Services will also open a dual-concept venue featuring BurgerFi and Anthony’s Coal Fired Pizza & Wings. Together, the two restaurants will occupy 3,835 square feet of space. Each of the restaurants is scheduled to open next year. CIM Group and The Comras Co. lead retail leasing efforts at the project.

August 31, 2023

Florida Investment sales News

Limestone, Orion Purchase Two Walgreens-Leased Properties in Florida for $15.6 Million

by Hayden Spiess August 29, 2023

Hialeah and Miami, Fla. — Limestone Asset Management and Orion Real Estate Group, doing business as Limestone Wells, have purchased two single-tenant, Walgreens-leased properties in Florida for $15.6 million. Located in Miami and Hialeah, the properties total 17,909 square feet and 14,490 square feet, respectively. Kevin Sanz of Orion represented the buyers in the all-cash transaction. Brian Pfohl of CBRE represented the seller, Walgreens Co.

August 29, 2023

Development Florida Leasing Mixed-use News

PEBB, Falcone Group Sign Three New Tenants to Beachwalk Project in Florida

by Hayden Spiess August 28, 2023

St. Johns County, Fla. — PEBB Enterprises and Falcone Group have signed three new tenants to the retail and restaurant space at Beachwalk, a mixed-use project currently underway in St. Johns County. Starbucks Coffee, Fancy Sushi and Playa Bowls will occupy 2,500, 1,500 and 1,200 square feet, respectively. The new leases bring the retail and restaurant space at the development, which totals 170,000 square feet, to 55 percent occupancy. Other tenants at the project include Fysh Bar & Grill, Noire Nail Bar, F45 Fitness, BurgerFi, Supercuts, Kilwins, Bagels R Us, Island …

August 28, 2023

Florida Grocery-anchored Investment sales News

Marcus & Millichap Brokers $14.8 Million Sale of University Commons Shopping Center in South Florida

by Hayden Spiess August 25, 2023

Tamarac, Fla. — Marcus & Millichap has brokered the $14.8 million sale of University Commons, an 80,224-square-foot shopping center located in Tamarac. Quince Supermarket anchors the property. Other tenants include Dunkin’ Donuts, Quest Diagnostics and Tire Choice. The buyer, an undisclosed New York-based private investor, purchased the center from a private investment firm based in Miami. Drew Kristol and Kirk Olson of Marcus & Millichap represented the seller in the transaction.

August 25, 2023

Florida Investment sales News

IPA Brokers $18.1 Million Sale of Bay City Point Shopping Center in Florida

by Hayden Spiess August 24, 2023

Panama City, Fla. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $18.1 million sale of Bay City Point, a 121,413-square-foot shopping center located in Panama City. Tenants at the property include Hobby Lobby, Burlington, Five Below, Sketchers and Ulta Beauty. Zach Taylor of IPA represented the seller, Ledbetter Properties, in the transaction.

August 24, 2023

The-Promenade-Sunset-Walk-Margaritaville_Kissimmee-Fla

Finance Florida News

Concord Summit Arranges $42 Million Financing for Retail Center in Florida

by Hayden Spiess August 23, 2023

Kissimmee, Fla. — Concord Summit Capital has arranged a $42 million bridge loan for the financing of The Promenade at Sunset Walk—Margaritaville Resort, a retail center located in Kissimmee, roughly 22 miles outside Orlando. The 14-building property comprises 192,659 square feet and is situated within the 325-acre master-planned community of Sunset Walk. Kevin O’Grady and Justin Neelis of Concord Summit secured the financing through BridgeInvest on behalf of the borrower, Encore Capital Management. The property’s inline space was fully leased at the time of financing, with one vacant pad space available. …

August 23, 2023

Development Florida News

Barron Collier Underway on 21,000-Square-Foot Retail Center in Florida

by Hayden Spiess August 21, 2023

Naples, Fla. — Barron Collier is underway on the construction of a 21,000-square-foot retail center in Naples. Situated within the developer’s Ave Maria master-planned community, the development is scheduled for completion next summer. Tenants at the property will include NCH Immediate Care Center, Sunshine Ace Hardware, Dunkin’ Donuts, LEDO Pizza and Cold Stone Creamery.

August 21, 2023

Florida Grocery-anchored Investment sales News

Cushman & Wakefield Arranges Sale of 237,498-Square-Foot Shopping Center in Boca Raton, Florida

by Hayden Spiess August 17, 2023

Boca Raton, Fla. — Cushman & Wakefield has arranged the sale of Shadowwood Square, a 237,498-square-foot shopping center located in Boca Raton. Constructed in 1982, the property is anchored by Sprouts Farmers Market, Walgreens and Old Navy. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, an entity controlled by Evelyn Langlieb Greer doing business as Shadowwood Square Ltd. An affiliate of Edens acquired the property.

August 17, 2023

Shoppes-Heart-of-Tradition_Port-St-Lucie-Fla

Development Florida Grocery-anchored News

PEBB, Banyan Begin Construction of 71,000-Square-Foot Retail Project in Port St. Lucie, Florida

by Hayden Spiess August 17, 2023

Port St. Lucie, Fla. — PEBB Enterprises and Banyan Development have started construction on the Shoppes @ the Heart of Tradition, a 71,000-square-foot retail project situated within the master-planned Tradition community in Port St. Lucie. A 19,231-square-foot Aldi will anchor the development, which is scheduled for completion next summer, when tenant buildouts will begin. Other tenants will include Kyle G’s Amore Chop House, Port Tradition, Tomalty Dental, Le Bistro de Paris, Picasso Nails and Rita’s Ice.

August 17, 2023

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