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DevelopmentFloridaLeasingMixed-useNews

Fitness Concept Signs 38,400-Square-Foot Lease at Mixed-Use Development in Miami

by Hayden Spiess

Miami — Club Studio, a fitness retail concept and part of Fitness International LLC, has signed a 38,400-square-foot lease at Grove Central, a mixed-use development underway in Miami’s Coconut Grove neighborhood. A joint venture between Miami-based developers Terra and Grass River Property is developing Grove Central, which is expected to open in 2024. In addition to a residential tower and parking garage, the development will feature approximately 170,000 square feet of neighborhood-oriented retail space. Other retailers committed at the project include Target, Sprouts Farmers Market, Total Wine and Five Below.

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FloridaInvestment salesNet leaseNewsRestaurants

NAI Hallmark Brokers $3.7 Million Sale of Chipotle Property in Jacksonville

by Hayden Spiess

Jacksonville, Fla. — NAI Hallmark has brokered the $3.7 million sale of a 2,425-square-foot property located in Jacksonville. Chipotle Mexican Grill will occupy the newly constructed building on a 15-year, triple-net-lease basis. Daniel Burkhardt and Keith Goldfaden of NAI represented the seller, C & C Jax Investors, in the transaction. A private investor purchased the property.

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FinanceFloridaNews

MMCC Secures $9.6 Million Acquisition Financing for Magic Mall Plaza in Orlando

by Hayden Spiess

Orlando, Fla. — Marcus & Millichap Capital Corp. (MMCC) has secured $9.6 million in acquisition financing for Magic Mall Plaza, a flea market-style shopping center located in Orlando. Built in 1971 and renovated in 2000, the complex totals 128,939 square feet. Garrett Fierstein of MMCC’s Orlando office originated the financing on behalf of the undisclosed borrower. The 10-year loan features a fixed 5.68 percent interest rate and a 25-year amortization schedule.

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Sawgrass-Design-Center-Sunrise-Fla
FloridaInvestment salesNews

Azor Brokers $13.9 Million Sale of Retail Center in Metro Miami

by Hayden Spiess

Sunrise, Fla. —Azor Advisory Services has brokered the $13.9 million sale of The Sawgrass Home Design Center, a retail center located in Sunrise, approximately 30 miles northwest of Miami. The 45,000-square-foot property was 83 percent leased at the time of sale to tenants including DXL Casual Male, Bella Salon Suites, Lighting Outlet, Compass Research and Caremax. Beth Azor of Azor represented the seller, a partnership doing business as FVP Sawgrass LLC, which originally acquired the property in 2011. Apogee Realty Inc. and Capital Group Realty 2004 LLC represented the buyer, …

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DevelopmentFloridaLeasingMixed-useNews

Topgolf to Anchor 223-Acre Mixed-Use Development Near Miami

by Hayden Spiess

Pompano Beach, Fla. — Construction is underway on a three-level Topgolf location in Pompano Beach, roughly 35 miles north of Miami. Scheduled to open later this year, the new venue will anchor a 223-acre, mixed-use project currently being developed by The Cordish Cos. and Caesars Entertainment. The location will feature 102 climate-controlled hitting bays, a full-service restaurant, rooftop terrace, outdoor patio, music, private event space and year-round family-friendly programs.

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FloridaGrocery-anchoredInvestment salesNews

Legacy Arranges $6.5 Million Sale of Shopping Center in Metro Orlando

by Hayden Spiess

Oviedo, Fla. — Legacy Realty Group Advisors has arranged the $6.5 million sale of Lockwood Village, a shopping center located in Oviedo, approximately 20 miles northeast of Orlando. Winn-Dixie anchors the 54,372-square-foot property. Jacob Baruch and Daniel Baruch of Legacy represented both the buyer and seller in the transaction.

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Commons-on-Collier-Naples-Fla
FloridaInvestment salesNews

Tobin Brokers $6.3 Million Sale of Shopping Center in Naples, Florida

by Hayden Spiess

Naples, Fla. — Tobin Real Estate has brokered the $6.3 million sale of Commons on Collier, a shopping center located in Naples. Built in 2018 and located on a Walmart Supercenter outparcel, the property comprises 12,601 square feet. Tenants at the center include Supercuts, Domino’s Pizza and the Collier County Tax Collector. Louie Granteed of Tobin represented the undisclosed seller, and Matt Stepan of Premier Commercial represented the buyer in the transaction.

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Bealls-New-Port-Richey-Fla
FloridaInvestment salesNews

Franklin Street Arranges Sale of 104,201-Square-Foot Retail Property in Metro Tampa

by Hayden Spiess

New Port Richey, Fla. — Franklin Street has arranged the sale of a 104,201-square-foot, single-tenant retail property located in New Port Richey, roughly 40 miles northwest of Tampa. Grant Equities LLC acquired the property for $7.2 million. Bryan Belk, John Tennant and Zack McNamara of Franklin Street represented the seller, an affiliate of Vanguard Associates Inc. Built in 1987 and situated within Pasco Square shopping center, the building is fully occupied by retailer Bealls. Zack McNamara of Franklin Street previously negotiated a new, long-term lease with the tenant on behalf …

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FloridaLeasingNewsRestaurants

Asana Partners Adds Five New Tenants to Sunset Harbour Retail Center in Miami Beach

by Hayden Spiess

Miami Beach, Fla. — Asana Partners has announced the addition of five new tenants to Sunset Harbour, a 21,000-square-foot retail center in Miami Beach. Restaurants Casa Bufala, Sacro and Nautical Bowls will occupy 2,500, 2,813 and 950 square feet, respectively. Chip City Cookies will also join the food-and-beverage lineup, leasing 980 square feet. Additionally, fitness and wellness club The Outsider will open a 2,006-square-foot location.

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FloridaInvestment salesNews

Avison Young Brokers $23 Million Sale of Retail Center in South Florida

by Hayden Spiess

Pembroke Pines, Fla. — Avison Young’s Florida Capital Markets Group has brokered the $23 million sale of Pembroke Centre, a 29,350-square-foot strip retail center located in Pembroke Pines. David Duckworth, Michael Fay, John Crotty and Brian de la Fé of Avison Young represented the developer and seller — PP Omni Ventures, an affiliate of Hart Lyman Cos. — in the transaction. Monolith Real Estate Property Management represented the buyer, an entity doing business as OMAX Invest LLC. Situated on four acres, the property was fully leased at the time of …

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