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FloridaInvestment salesNews

SRS Negotiates $3.5 Million Ground Lease Sale of Single-Tenant Restaurant Property in Central Florida

by Abby Cox

Leesburg, Fla. — SRS Real Estate Partners has negotiated the $3.5 million ground lease sale of a restaurant property located at 9925 US-441 in Leesburg, about 45 miles northwest of Orlando. Chick-fil-A occupies the 4,935-square-foot building, which was built in 2024, on a corporate-guaranteed, triple-net ground lease with 13 years remaining on the initial term. Patrick Nutt and William Wamble of SRS represented the seller, a national investor and developer, in the transaction. The 1031 exchange buyer was a Brooklyn, New York-based private investor.

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Company newsFloridaNews

Saglo Cos. Names New Chairman, CEO

by Abby Cox

Miami — Miami-based Saglo Cos. has named the company’s current president, Hue Chen, as its new CEO. Chen has served as president of the shopping center owner and operator for the past 10 years. In addition to overseeing enterprise-wide operations, Hue will lead Saglo’s long-term strategy, growth initiatives and capital deployment efforts. Jack Glottmann, who initially joined his father to lead the company in 1998, will transition from his position of CEO to chairman. As chairman, Glottmann will continue to provide oversight while focusing on strengthening relationships with Saglo’s investors …

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DevelopmentFloridaGrocery-anchoredInvestment salesNews

Morgan Co., Casto Net Lease Acquire Land Parcel for Development of Grocery-Anchored Shopping Center in Port St. Lucie, Florida

by Abby Cox

Port St. Lucie, Fla. — A partnership between Morgan Co. and Casto Net Lease has acquired a 15-acre land parcel in Port St. Lucie for the development of a grocery-anchored shopping center. Scott Copeland of On Course Development represented the buyers in the transaction. The new center will be anchored by Aldi and will include several outparcels that will be designated for tenants such as McDonald’s, Circle K and AutoZone. Construction is expected to begin later this year, with delivery of the project scheduled for 2027.

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Tampa-Theatre
DevelopmentFloridaNews

Creative Contractors Begins $13.5 Million Restoration of 100-Year-Old Tampa Theatre

by Abby Cox

Tampa, Fla. — Creative Contractors Inc. has begun the $13.5 million renovation and modernization of Tampa Theatre, a historic cinema in downtown Tampa that opened on Oct. 15, 1926. The Tampa Bay-area general contractor will make audiovisual enhancements to the theater, as well as upgrades across the property’s HVAC, electrical and mechanical systems, including the installation of a new elevator. Other enhancements will include a refreshed concessions area, new bathrooms, a new stage truss system and upgraded theatrical lighting to support live performances and film presentations. The second and third …

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FloridaLeasingMixed-useNews

Mill Creek Residential Signs Leases with Eight New Tenants at Modera Coral Springs in Florida

by Abby Cox

Coral Springs, Fla. — Mill Creek Residential has signed leases with eight new retail and restaurant tenants at Modera Coral Springs, a mixed-use community located in Coral Springs, a city in South Florida’s Broward County. Big Whiskey, Farmhouse Kitchen, Let’s Chill Homemade Ice Cream, Copenhagen Corner Wine Bar, Mitch’s Downtown Bagel Café, Paris Baguette, Coral Springs Museum of Art and TREMBLE Pilates Studio will join the development this year. Roughly 85 percent of the retail space is now leased. Modera Coral Springs features 32,589 square feet of ground-floor retail space and …

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FloridaInvestment salesNewsTexas

Levin Johnston Group Brokers $9 Million Sale of Two Single-Tenant Retail Properties in Texas, Florida 

by Abby Cox

Lutz, Fla. and Austin, Texas — Levin Johnston Group of Marcus & Millichap has brokered the $9 million sale of two, newly-constructed single-tenant retail properties in Texas and Florida. Marcus & Millichap’s Levin Johnston team represented a single private investor in the acquisitions. The buyer used proceeds from the sale of a 24-unit apartment community in Redwood City, California to reinvest into the retail properties. Chipotle Mexican Grill occupies a 2,493-square-foot building at 10301 Cross Creek Blvd. in Lutz. Chick-fil-A occupies a 4,944-square-foot building at 7300 McKinney Falls Parkway in Austin. …

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Central-Aventura
DevelopmentFinanceFloridaMixed-useNews

Ocean Bank Provides $70 Million Construction Loan for Mixed-Use Building in Aventura, Florida

by Abby Cox

Aventura, Fla. — Ocean Bank has provided a $70 million construction loan for Central Aventura, a nine-story mixed-use building located at the corner of Biscayne Boulevard and 209th Street in the Miami suburb of Aventura. Jesus Garcia of Ocean Bank originated the loan on behalf of the borrower, an entity doing business as Central Aventura LLC that is led by Jacobo Cababie Dichi. Central Aventura will comprise 75,270 square feet of retail space on the first three levels, four levels of parking and 63,883 square feet of offices on the …

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Oakview Plaza
DevelopmentFloridaGrocery-anchoredInvestment salesNews

Franklin Street Brokers $6.4 Million Sale of Retail Center in Zephyrhills, Florida

by Abby Cox

Zephyrhills, Florida — Franklin Street has brokered the $6.4 million sale of Oakview Plaza, a 47,000-square-foot retail center located in Zephyrhills, roughly 30 miles northeast of Tampa. Justin Walker, Justin Sturdivant and Dylan Morse of Franklin Street represented the seller, South Florida-based Merrimac Ventures, in the transaction. New York-based New Hyde Park Fruit Corp. was the buyer. Originally built in 1990, the center will undergo façade improvements, parking lot enhancements and lighting updates. The property’s Winn-Dixie store is also being redeveloped into an Aldi that will act as co-anchor to …

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atlantic-crossings-florida
Company newsFloridaNews

Southeast Centers to Provide Leasing, Management for Atlantic Crossings in Metro Fort Lauderdale, Florida

by Abby Cox

Coral Springs, Fla. — Southeast Centers has been selected to provide leasing and management services for Atlantic Crossings, a 173,680-square-foot shopping center in Coral Springs, approximately 20 miles northwest of Fort Lauderdale. Whole Foods Market and Home Depot anchor the property, which was developed between 1993 and 1998. Additional tenants at the center, which is fully leased, include Crunch Fitness, LensCrafters, PAK Mail Center and Pines Aesthetics. The center is situated on nearly 20 acres and is located adjacent to Coral Square Mall. Southeast Centers’ third-party management and leasing portfolio …

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DevelopmentFloridaGrocery-anchoredNews

Ardent Receives Civic Approval for Costco-Anchored Redevelopment of Metro Orlando Mall

by Abby Cox

Sanford, Fla. — The Ardent Cos. has received approval from the City of Sanford for the redevelopment of Seminole Towne Center, a former shopping mall spanning 1.1 million square feet in metro Orlando. The redevelopment includes construction of a new 164,585-square-foot Costco store on the 76-acre site. Taking the place of the former Macy’s department store, the Costco location will include a gas station, tire center and liquor store. Ardent plans to begin site work and demolition this summer, with the Costco store opening anticipated for second-quarter 2027. Over the …

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