Key Biscayne, Fla. — Ocean Bank has provided $16 million for the refinancing of Food Fair Shopping Center, a 23,793-square-foot retail center located off the coast of Miami on Key Biscayne Island. Originally built in 1965 on 1.7 acres, the property is anchored by CVS Pharmacy. Other tenants include Sir Pizza and a dry cleaner. T. George Harduvel of Ocean Bank arranged the loan.
Boca Raton, Fla. — EDENS has begun the overhaul of Shadowood Square, a shopping center located in Boca Raton. The development firm is demolishing a portion of the center, now rebranded as Shadowood, that once housed a movie theater to make way for five new retail buildings totaling 49,330 square feet. The new buildings will be connected by a 25-foot-wide promenade and public green space. Additionally, three existing retail buildings totaling 60,557 square feet will be fully renovated and placemaking elements including brightened facades, signage and wayfinding, paseos, public art and …
Orlando, Fla. — JLL Capital Markets has arranged $17.5 million in financing for the acquisition of International Shoppes, a 73,568-square-foot open-air shopping center located in Orlando near Walt Disney World Resort. The property is currently 82 percent leased to tenants including Boot Barn and Subway. Joshua Odessky, Michael DiCosimo and Aaliyah St. Louis of JLL’s Debt Advisory team secured financing through Ameris Bank on behalf of the borrower, The Cornfeld Group.
Altamonte Springs, Fla. — Franklin Street has negotiated the sale of Shoppes at Brantley Hall, a 34,460-square-foot unanchored retail center located in Altamonte Springs, roughly 16 miles outside Orlando. Built in 1989, Shoppes at Brantley Hall was 97 percent leased at the time of sale to tenants including Pet Supplies Plus, Orlando Health, Edward Jones and Fiesta Azul Tequila House. Last Mile Investments plans to make upgrades and continue operating the center while “maintaining the asset’s strong tenant mix and stable performance.” Last Mile Investments purchased the property from an entity doing business as …
North Port, Fla. — Marcus & Millichap has arranged the $10.8 million sale of North Port Village, a 66,083-square-foot neighborhood retail center located in North Port. Planet Fitness anchors the property, which was fully leased at the time of sale. Additional tenants include Humana, NAPA Auto Parts and Do The Beach adventure park. North Port Village was originally built in 1989 on nearly 11 acres. Clayton Brown, Luke Holsinger and Ruthanne Loar of Marcus & Millichap’s Seattle office procured the buyer, a Seattle-based private investor. Drew Kristol and Kirk Olson, …
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 …
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 …
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 …
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 …
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.
