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Sheridan Village Center
FloridaInvestment salesMixed-useNews

Perkins Realty Management Acquires Sheridan Village Center in Florida for $15.5 Million

by Abby Cox

Pembroke Pines, Fla. — Perkins Realty Management has acquired Sheridan Village Center, a 64,311-square-foot mixed-use retail and self-storage property located in Pembroke Pines, for $15.5 million. The property comprises 29,331 square feet of ground floor retail space, as well as a 419-unit self-storage facility that totals 35,000 square feet. The retail portion of the center was 93 percent leased to tenants including Memorial Healthcare System, Dunkin’ Donuts and Momo Relaxation at the time of sale. The self-storage component spans two upper floors above the Eastern retail strip and features climate-controlled …

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Ocean Village Square
FloridaInvestment salesNews

Marcus & Millichap Brokers $8.4 Million Sale of 60,631-Square-Foot Shopping Center in New Smyrna Beach, Florida

by Abby Cox

New Smyrna Beach, Fla. — Marcus & Millichap has brokered the $8.4 million sale of Ocean Village Square, a 60,631-square-foot shopping center located in New Smyrna Beach. Built in 1986, the center is anchored by Dollar General and sits on 9 acres. Other tenants include Nautilus Fitness NSB, Touch of Italy and the Atlantic Wellness Center. David Vaughan and Ray Turchi of Marcus & Millichap procured the buyer, a private investor based in Central Florida.

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Company newsFloridaNews

Fatburger Signs 40-Unit Franchise Deal in Florida 

by Abby Cox

Los Angeles — Beverly Hills, California-based FAT Brands Inc., parent company of Fatburger and 17 other restaurant concepts, has signed a new development deal with existing franchisee Whole Factor Inc., to open 40 additional Fatburger locations across Florida over the next 10 years. Since 2021, the fast-casual hamburger chain has expanded into the Orlando and Tampa areas with a 14-unit development deal, opening the newest restaurant locations in Riverview and Celebration. FAT Brands currently owns and franchises more than 2,300 units worldwide.

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The Shops at Brickell City Centre
FloridaMixed-useNews

Simon Acquires Majority Interest of Shops at Brickell City Centre in Downtown Miami for $512 Million

by Abby Cox

Miami — Indianapolis-based Simon Property Group has acquired the remaining interest of the retail and parking component at Brickell City Centre, a 5.4 million-square-foot mixed-use development in downtown Miami. Swire Properties sold the majority 75 percent stake in the property’s 500,000-square-foot retail portion for $512 million, according to several media outlets. Simon had previously owned a 25 percent, non-managing interest in The Shops at Brickell City Centre. Following the transaction, Simon is now the sole owner and manager of the property’s retail and entertainment component. Completed in 2016, The Shops …

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The Brooks Town Center
FloridaInvestment salesNews

Plaza Advisors Arranges Sale of 35,330-Square-Foot Shopping Center in Metro Fort Myers

by Abby Cox

Estero, Fla. — Plaza Advisors has arranged the sale of The Brooks Town Center, a 35,330-square-foot shopping center located in Estero, approximately 16 miles south of downtown Fort Myers. Originally built in 2008, the center was 96 percent leased to FineMark Bank, Burn Boot Camp, LabCorp and Pinch-A-Penny at the time of sale. In a separate transaction, FineMark Bank acquired its 9,390-square-foot outparcel building at the center, while Concord Real Estate Investors purchased the remaining 25,940-square-foot retail strip center. Jim Michalak and Jeff Berkezchuk of Plaza Advisors represented the seller, …

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FloridaGrocery-anchoredNews

GBT Realty Breaks Ground on 30,500-Square-Foot Shopping Center in Metro Orlando

by Abby Cox

Clermont, Fla. — GBT Realty Corp. has broken ground on Hammock Ridge Commons, a 30,500-square-foot shopping center located in Clermont, approximately 25 miles east of Orlando. An entity doing business as Shoppes at Hammock Ridge Crossing LLC sold the original 3.7-acre land parcel to GBT for $2.5 million. A 23,273-square-foot Sprouts Farmers Market will anchor Hammock Ridge Commons, while additional tenants at the property will include a dentist and nail salon. Roughly 1,700 square feet of inline space is still available for lease at the center. J. Raymond Construction Corp. is …

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Shopper's Haven
FloridaGrocery-anchoredNews

Stiles, FCA Partners Complete Redevelopment of 200,144-Square-Foot Retail Center in Metro Fort Lauderdale

by Abby Cox

Pompano Beach, Fla. — A partnership between Stiles and FCA Partners has completed the redevelopment of Shopper’s Haven, a 200,144-square-foot retail center in Pompano Beach, roughly 10 miles north of Ft. Lauderdale. A new Publix Supermarket — which opened June 26 — anchors the center. Hawkins Construction served as the project’s general contractor, while Dunphy Development provided additional development and construction management services. First Horizon Bank provided financing for both the acquisition and redevelopment. Redevelopment of the site featured ground-up construction of the new Publix, along with upgrades to the property’s exterior, …

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Six Gun Plaza
FloridaInvestment salesNews

Atlantic Commercial Group Arranges $14.3 Million Sale of 222,000-Square-Foot Shopping Center in Ocala, Florida

by Abby Cox

Ocala, Fla. — Atlantic Commercial Group has arranged the $14.3 million sale of Six Gun Plaza, a 222,000-square-foot shopping center located in Ocala. Situated along East Silver Springs Blvd., the property is anchored by Bealls, Ross Dress For Less, Shoe Dept. and Dollar General. Additional tenants include Boots Barbershop, Firehouse Subs, Collector’s Paradise, Outback Steakhouse and Elite Nail. Six Gun Plaza was held by the previous owner for more than 30 years. Gary Broidis of Delray Beach-based Atlantic Commercial Group represented the seller, an entity doing business as Six Gun …

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Whole-Foods_Wells-Fargo_Miami-Beach
DevelopmentFinanceFloridaNews

Ocean Bank Provides $54 Million Construction Loan for Whole Foods-Anchored Retail Project in Miami Beach

by Abby Cox

Miami Beach, Fla. — Ocean Bank has provided a $54 million construction loan for a retail development in Miami Beach. The borrower, 1901 Alton Property LLC, an affiliate of developer Russell Galbut and his daughter Marisa Galbut, is developing a commercial building that will house a 40,883-square-foot Whole Foods Market, a 4,000-square-foot Wells Fargo bank branch and 271 parking spaces. Jorge Hernandez of Ocean Bank originated the financing on behalf of the borrower, which has been doing business with Ocean Bank for 35 years. Details of the loan and the …

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11850-Biscayne-Blvd
FloridaInvestment salesNews

Marcus & Millichap Brokers $6.1 Million Sale of 15,172-Square-Foot Retail Center in Miami

by Abby Cox

Miami — Marcus & Millichap has brokered the $6.1 million sale of a 15,172-square-foot retail strip center located at 11850 Biscayne Blvd. in Miami. A CVS pharmacy, which has fewer than 10 years remaining on its lease, anchors the property. The center was originally built in 1994. Jonathan De La Rosa procured the buyer in the transaction. 

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