Florida

College-Plaza_Fort-Myers-Fla

Fort Myers, Fla. — CBRE has brokered the $14.6 million sale of College Plaza, a retail center located in Fort Myers. An entity doing business as College Plaza Center LLC acquired the property from an entity doing business as College Venture 1 LLC. Jim Shiebler of CBRE represented both the buyer and seller in the transaction. Tenants at College Plaza, which totals 56,386 square feet, include Ada’s Natural Market, West Marine and Pet Supermarket. The center also features an outparcel occupied by Five Guys, Tijuana Flats and The Good Feet Store. 

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Newark, N.J. — New Jersey-based PGIM Real Estate has sold a portfolio of seven grocery-anchored shopping centers in Florida. An undisclosed buyer purchased the portfolio, which comprises a total of 608,314 square feet of retail space, for $223.9 million. Danny Finkle, Eric Williams, Jorge Portela and Kim Flores of JLL represented PGIM in the disposition. Properties in the portfolio include Crestwood Square in Royal Palm Beach; Davie Shopping Center and Regency Square in Davie; Gladiolus Gateway in Fort Myers; Town Center at Orange Lake and Village Shops at Bellalago in Kissimmee; …

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Causeway-Shopping-Center_Melbourne-Fla

Melbourne, Fla. — The Shopping Center Group (TSCG) has brokered the $16.5 million sale of Causeway Shopping Center in Melbourne. Ross Dress for Less, Michaels and Bealls anchor the property, which totals 111,816 square feet. Anthony Blanco of TSCG represented the seller, a joint venture between Forge Capital Partners and The Sembler Co. Darrell Deshaw of Western Retail Advisors represented the California-based buyer. Originally built in 1966 and renovated in 2008, the center was 85 percent leased at the time of sale. 

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Mill Valley, Calif. — Four Corners Property Trust (FCPT) has purchased 20 restaurant properties occupied by Bloomin’ Brands concepts for $66.4 million dollars. Located in Arizona, Florida, Georgia, Kentucky, Louisiana, North Carolina, Nevada, Pennsylvania, South Carolina and Tennessee, the portfolio includes 10 Outback Steakhouse restaurants and 10 Carrabba’s Italian Grill restaurants, with one dual-tenant property occupied by both concepts. The properties are leased to corporate Bloomin’ Brands entities on two master leases. This transaction makes Bloomin’ Brands the third largest tenant for FCPT, accounting for 3.3 percent of cash rent for …

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Jacksonville, Fla. — Baum Family Investments has purchased three single-tenant properties located in Jacksonville. Kentucky Fried Chicken (KFC) occupies each of the properties on a triple-net-lease basis. An undisclosed seller sold the buildings for roughly $5 million. Baum Family Investments has acquired four other properties in the state this year, with plans to purchase an additional six properties before the end of 2024. 

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Millenia-Crossing_Orlando

Winter Park, Fla. — CTO Realty Growth Inc. has acquired a portfolio of three shopping centers located in Florida and North Carolina. The properties, which together total 893,000 square feet, include Carolina Pavilion in Charlotte, North Carolina; Millenia Crossing in Orlando, Florida; and Lake Brandon Village in Brandon, Florida. CTO purchased the portfolio from an undisclosed seller for $137.5 million. Carolina Pavilion, which was 93 percent leased at the time of sale, comprises roughly 691,000 square feet.  Tenants at the center include AMC Theatres, Floor & Décor, Nordstrom Rack, Ross Dress for …

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Palm-Aire-Marketplace_Pompano-Beach-Fla

Pompano Beach, Fla. — Colliers has brokered the $33.1 million sale of Palm Aire Marketplace, a shopping center located in Pompano Beach. Presidente Supermarket and dd’s DISCOUNTS anchor the property, which totals 143,219 square feet. Other tenants at Palm Aire Marketplace include T-Mobile, Chase Bank and McDonald’s. Harry Blyden, Bastian Schauer, Ruben Suarez, Billy Weiser and Ariel Davis of Colliers represented the seller, Pompano Realty USA, in the transaction. Longpoint Realty Partners acquired the asset, which is situated across from The Pomp, a $2 billion mixed-use project currently underway at the …

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Smalls-Sliders

Atlanta — Atlanta-based fast-casual concept Smalls Sliders has signed a franchise agreement to open four new units in Florida. DPC Smalls Investments will own and operate the restaurants, which will be located in the Destin and Panama City Beach areas. The first of the units, which are dubbed “Cans,” is scheduled to open in 2025. In April, the brand announced a 12-restaurant franchise agreement for Tallahassee and Jacksonville.

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Pearl-Street

Jacksonville, Fla. — Gateway Jax has received approval from the Jacksonville City Council for the development of Pearl Street District, a $2 billion mixed-use project set to span 25 blocks in downtown Jacksonville.  Plans for the development include 1,000 residential units; more than 100,000 square feet of retail space; public gathering spaces, including parks surrounding the historic Porter House mansion; widened and shaded sidewalks; and a curbless “festival street” with outdoor dining. Gateway Jax bought the site last year. Anticipated tenants for the retail portion of the project include a full-service …

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Lee-Vista-Promenade_Orlando-Fla

Orlando, Fla. — Colliers has brokered the $68.5 million sale of Lee Vista Promenade, a shopping center located in Orlando. Brad Peterson, Whitaker Leonhardt and Eric AmRhein of Colliers represented the seller, SITE Centers, in the transaction. Built in 2016, the property totals 313,981 square feet. Tenants at the center, which was 95.5 percent occupied at the time of sale, include Academy Sports, Epic Theaters, Ross Dress for Less, HomeGoods, Michaels, Bealls Outlet, Petco, Ulta Beauty, Five Below and Famous Footwear. Donald Jennewein of Colliers arranged financing through City National Bank …

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