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DevelopmentFloridaMixed-useNewsRestaurantsRetailers

City of Miami Approves $2 Billion Midtown Park Mixed-Use Development

by Abby Cox

Miami — The City of Miami’s Urban Development Review Board has officially approved the master plan for Midtown Park, a $2 billion mixed-use development. A joint venture between Rosso Development, Midtown Development and Proper Hospitality is developing the project, a construction timeline for which has not yet been announced.  Plans for the two-phase, 1.2 million-square-foot project currently call for 924 residential units, 60,000 square feet of office space and more than 120,000 square feet of retail and restaurant space. Additionally, the development will feature two public plazas, a network of pedestrian-oriented …

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Buccaneer Square
FloridaGrocery-anchoredInvestment salesNews

TSCG Negotiates $12.7 Million Sale of Buccaneer Square in Tampa, Florida

by Abby Cox

Tampa, Fla. — TSCG has negotiated the $12.7 million sale of Buccaneer Square, a 103,813-square-foot shopping center located in Tampa. Aldi anchors Buccaneer Square, which was 91 percent leased at the time of sale. Additional tenants include Harbor Freight Tools, Boot Barn and Five Below. CVS Pharmacy and Chick-fil-A occupy separate outparcels at the property that were not included in the sale. Originally built in 1970 and renovated in 2000, Buccaneer Square sits on roughly 8.5 acres. Anthony Blanco of TSCG represented the seller, a private partnership, in the transaction. The …

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Tamarac Town Square
FinanceFloridaGrocery-anchoredNews

JLL Arranges $57.5 Million in Financing for Two Publix-Anchored Shopping Centers in South Florida

by Abby Cox

Miami Gardens and Tamarac, Fla. — JLL Capital Markets has arranged a combined $57.5 million in financing for two Publix-anchored shopping centers in South Florida. Matt Casey, Paul Adams, Hunter Rich and Aaliyah St. Louis of JLL’s Debt Advisory team arranged the loans through Synovus Bank on behalf of the borrower, Atlanta-based Jamestown. The first property, Country Club Plaza in Miami Gardens, totals 100,893 square feet and is leased to tenants including CVS and Panera Bread. Cypress Commons — formerly known as Tamarac Town Square — is the second property, which …

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City Park
DevelopmentFloridaMixed-useNewsRetailers

Partnership Proposes $2 Billion City Park at West Kendall Mixed-Use Development in Miami

by Abby Cox

Miami — A partnership between The Easton Group, Lennar and MPKA LLC has proposed City Park at West Kendall, a $2 billion, 990-acre master-planned community in Miami. The development team has filed its application with Miami-Dade County. Plans call for 7,800 new homes in a variety of price points, including townhomes, multifamily units, single-family homes and workforce housing, as well as 1.4 million square feet of retail space and 500,000 square feet of office space. At the heart of the proposed project is Village Core, a walkable town center with …

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Red Bird Center
FloridaGrocery-anchoredInvestment salesNews

JLL Negotiates $62.1 Million Sale of Red Bird Center in Miami

by Abby Cox

Miami — JLL Capital Markets has arranged the $62.1 million sale of Red Bird Center, a 92,089-square-foot retail center located in Miami. Milam’s Markets anchors the property, which was fully occupied at the time of sale. Additional tenants include Walgreens, Orion Fuels and Ace Hardware. Danny Finkle, Jorge Portela and Kim Flores of JLL’s Investment Sales and Advisory team represented the seller, Red Bird Associates, in the transaction. The buyer was Charlotte, North Carolina-based Asana Partners.

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Tractor Supply
FloridaInvestment salesNews

CrownPoint Partners Brokers $11.5 Million Sale of Single-Tenant Retail Property in Southwest Florida

by Abby Cox

Naples, Fla. — CrownPoint Partners has brokered the $11.5 million sale of a single-tenant retail property located within the Golden Gate Estates community in Naples. Tractor Supply Co. occupies the 23,279-square-foot building on a 15-year corporate guaranteed lease as a new prototype store layout, which includes an outdoor garden area, feed center and fenced-in display space.   Shannon Bona and Julius Swolsky of CrownPoint Partners represented the seller, a Southeast-based developer, in the transaction. David Weinberg of Marcus & Millichap represented the buyer, a Midwest-based private 1031 exchange investor.

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Rimowa storefront
FloridaInvestment salesNews

River Oaks Acquires 5,875-Square-Foot Retail Property in Miami for $27 Million

by Abby Cox

Miami ­— El Paso, Texas-based River Oaks Properties (ROP) has acquired a 5,875-square-foot retail property located at 111-115 NE 40th St. in Miami’s Design District for $27 million. Luxury luggage manufacturer Rimowa and footwear brand Birkenstock fully occupy the property on long-term, triple-net leases. Pegasus Investments Real Estate Advisory represented the buyer in the transaction. Jordan Gimelstein of Inhouse Commercial represented the seller, an affiliate of Harbor Group International. Akerman LLP’s Miami office served as legal advisor to ROP. Miami’s Design District features a mix of high-end retailers including Louis Vuitton, …

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Baron Shoppes
FloridaInvestment salesNews

CenterSquare Acquires Baron Shoppes in Stuart, Florida

by Abby Cox

Stuart, Fla. — Conshohocken, Pennsylvania-based CenterSquare has acquired Baron Shoppes, a 16,316-square-foot service retail center located in Stuart, approximately 40 miles north of West Palm Beach. Tenants at the center, which was fully leased at the time of sale, include Carmela Coffee, Firehouse Subs and Jupiter Medical. Baron Shoppes was originally built in 2018 on nearly 7 acres, according to LoopNet Inc. This transaction marks CenterSquare’s 8th acquisition in Florida.

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Palm Square
FloridaInvestment salesNews

Galium Capital Sells Palm Square in Pembroke Pines for $25 Million

by Abby Cox

Pembroke Pines, Fla. — Galium Capital has sold Palm Square, a 77,621-square-foot retail center in Pembroke Pines, for $25 million. Built in 1987 on 8 acres, Palm Square features a mix of tenants including Dunkin’, Sherwin-Williams, KFC, Goldfish Swim School, Smile Xperts Family Dentistry & Orthodontics, Florida Medical Healthcare, Fordham Fitness and the Atlantic Montessori Charter School. Kirk Olson and Drew Kristol of Marcus & Millichap represented the seller and procured the buyer, an affiliate of JBL Asset Management, in the transaction.

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FloridaInvestment salesNews

Partnership Acquires 800,000-Square-Foot Galleria at Fort Lauderdale Mall, Plans Redevelopment

by Abby Cox

Fort Lauderdale, Fla. — GFO Investments and InSite Group, in partnership with Atlas Real Estate and Prime Finance, have acquired The Galleria at Fort Lauderdale, with plans to redevelop the 800,000-square-foot mall. Robert Given, Brad Capas and Casey Rosen of CBRE represented the seller, Keystone-Florida Holding Corp., in the transaction. The sales price was not disclosed. GFO and InSite Group will oversee redevelopment efforts, while Sandeep Mathrani of Atlas Hill Real Estate will lead leasing at the property. Galleria Mall, an underperforming, super-regional shopping center, will be reimagined into a community-focused destination. …

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