Leesburg, Fla. — SRS Real Estate Partners has brokered the $7.5 million sale of Leesburg Marketplace, an 81,071-square-foot shopping center located in Leesburg. The property was 90 percent leased at the time of sale to tenants including Ollie’s Bargain Outlet and Dollar Tree. Kyle Stonis and Pierce Mayson of SRS represented the seller, a Florida-based private investor, in the transaction. An entity doing business as JTT Eagles LLC was the buyer.
Lutz, Fla. — Newmark has brokered the $49.6 million sale of Cypress Creek Town Center Portfolio, a 240,211-square-foot shopping center located in Lutz. Total Wine, Hobby Lobby, Burlington, HomeGoods, Badcock Furniture and Dollar Tree anchor the portfolio, which comprises four parcels that were fully leased at the time of sale. An undisclosed buyer acquired the properties. Drew Fleming of Newmark arranged the sale on behalf of the seller, Hutton.
North Miami, Fla. — Reserve Padel has announced plans to open a 100,000-square-foot fitness club in North Miami. Upon completion, the venue will feature four indoor and six outdoor padel courts; two pickleball courts; a health and wellness center; Pura Vida restaurant; steam room; and cold plunge pool. Situated within SoLé Mia, a 184-acre master-planned community, the club will mark the first permanent location for the brand.
Miami Gardens, Fla. — Marcus & Millichap has brokered the $10.1 million sale of Shoppes of Ives Dairy, a 24,517-square-foot retail strip center located in Miami Gardens. Tenants at the property include Wells Fargo, Smoothie King, The UPS Store, Subway, T-Mobile and Foot Locker. Kirk Olson and Drew Kristol of Marcus & Millichap’s Miami office represented the seller, a private investment firm, in the transaction.
San Diego — High Bluff Capital Partners will assume ownership of a portfolio comprising 81 Hardee’s locations following an auction. Located in Alabama, Florida, Georgia, Kansas, Missouri, Montana, South Carolina and Wyoming, the restaurants were previously owned by franchisee Summit Restaurant Group, which filed for Chapter 11 bankruptcy in May of this year. The transaction is expected to close in August. Dave Dixon will oversee operation of the restaurants. “High Bluff is the ideal partner to support our efforts…while making critical investments in restaurant remodels and other initiatives to boost traffic …
Jupiter, Fla. — JLL Capital Markets has brokered the $39.1 million sale of Bluffs Square Shoppes, a 123,917-square-foot shopping center located in Jupiter. Constructed in 1986, the property is anchored by Publix. Other tenants at the center, which was 98 percent leased at the time of sale, include Walgreens, Uncle Eddie’s, Anthony’s Women Apparel, Goodwill, UPS, Toojay’s Deli and Cafe Solé. Danny Finkle, Jorge Portela, Eric Williams and Kim Flores of JLL represented the seller, Sterling Organization, in the transaction. BPS Partners acquired the property.
Sarasota, Fla. — Ian Black Real Estate has brokered the $8.2 million sale of Crowder Plaza, a 25,000-square-foot retail center located in Sarasota. Shadow-anchored by Ace Hardware, the center was fully leased at the time of sale to tenants including Big Top Brewery, Goodwill, The Granary, Blossom Nails, The Boutique Out East, Premier Tackle and Domino’s Pizza. George Brusco of Ian Black Real Estate represented the seller, an entity doing business as Crowder Enterprises LLC, in the transaction. Marny Lewis of Berkshire Hathaway HomeServices, Florida Realty represented the buyer, an entity …
Delray Beach, Fla. — PEBB Enterprises and Banyan Development have started construction on Atlantic II, a 10-acre mixed-use project located in Delray Beach. Upon completion, which is scheduled for mid-2024, the development will feature a 10,000-square-foot, multi-tenant retail building, 100,000 square feet of self-storage space and a car wash outparcel. The outparcel is currently under contract for sale, and Paradise Grills has signed a lease to occupy 6,000 square feet in the retail building. Liberty Investment Properties, which develops self-storage properties, is partnering with the joint venture on the development.
Treasure Island, Fla. — Marcus & Millichap has arranged the $5.9 million sale of Treasure Island Plaza, a 20,000-square-foot retail strip center located in Treasure Island in metro Tampa Bay. Built in 1981, the property was leased to 11 tenants at the time of sale. The buyer, an investment firm based in Miami, plans to redevelop the one-acre parcel into a mixed-use building with 40 residences atop 10,000 square feet of retail space. Evan Cannan and Reid Thedford of Marcus & Millichap’s Tampa office brokered the transaction.
DeBary, Fla. — St. Petersburg-based Mosaic Development LLC has purchased 13.1 acres of land in DeBary, roughly 23 miles north of Orlando, for the development of the first phase of a mixed-use project to be located immediately north of the city’s SunRail station. Upon completion, the Main Street-style development will feature 500 apartment units, 40,000 square feet of retail space and a central park and community plaza. Construction on the project is scheduled to begin early next year. Mosaic purchased the land parcels, which are zoned as a transit-oriented development (TOD) district, …
