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DevelopmentFloridaMixed-useNews

Joint Venture Develops Plans, Renderings for $500 Million Mixed-Use Development in Downtown Orlando

by Hayden Spiess

Orlando, Fla. — A joint venture between SED Development LLC, JMA Ventures LLC and Machete Group Inc. has developed plans and renderings for a new mixed-use development in downtown Orlando. The project, dubbed the Orlando Sports + Entertainment District, will comprise 900,000 square feet situated on 8.5 acres adjacent to Amway Center, the home arena for the NBA’s Orlando Magic. The Orlando Sentinel reports the project will cost roughly $500 million to develop. In addition to hotel, residential and office space, the development will feature 100,000 square feet of shops and restaurants and …

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Crescent-City-Plaza
FloridaGrocery-anchoredInvestment salesNews

CrossMarc Services Acquires 47,945-Square-Foot Shopping Center in Florida

by Hayden Spiess

Crescent City, Fla. — CrossMarc Services LLC has purchased Crescent City Plaza, a 47,945-square-foot shopping center located in Crescent City, for $2.7 million. Built in 1974 and remodeled in 2019, the property is leased to tenants including Save-A-Lot and Family Dollar. Situated on 7.6 acres, the center also features a parcel for future outparcel development. Jimmy and Leo Island Properties was the seller. CrossMarc Services will handle leasing and management at the property.

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Hernando West Plaza
DevelopmentFloridaGrocery-anchoredNews

Sembler, Forge Capital Complete $13.3 Million Redevelopment of Hernando West Plaza in Florida

by Hayden Spiess

Spring Hill, Fla. — A joint venture between the Sembler Co. and Forge Capital Partners has completed a $13.3 million redevelopment of Hernando West Plaza, a retail center located in Spring Hill. The partnership, dubbed Forge Real Estate Partners IV, acquired the property in 2020 before commencing the 11-month redevelopment project. Construction included the demolition of an existing 46,000-square-foot grocery store and 9,800 square feet of inline shop space, originally built in 1980. A new 45,000-square-foot grocery storefront has been constructed, as well as an adjacent 3,200 square feet of shop …

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Babcock-Ranch_Fla
DevelopmentFloridaLeasingMixed-useNews

Retail Tenants Sign Leases Totaling 120,000 Square Feet at Babcock Ranch Project in South Florida

by Hayden Spiess

Babcock Ranch, Fla. — Retail tenants have signed leases totaling more than 120,000 square feet at Babcock Ranch, a solar-powered mixed-use community currently underway in South Florida. The project is entitled for 6 million square feet of commercial space, in addition to residences. Upon completion, the development will feature 4 million square feet of retail space, including shopping centers The Shoppes at Yellow Pine and Crescent B Commons. Marshalls, Ace Hardware, Five Below, Oar & Iron, Tipsy Salonbar, Fountain Pools, Seymour Orthodontics, Yummy Thai & Chinese, Verizon, Papa Johns, Carvel and …

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The-Container-Store_Miami-Worldcenter
FloridaLeasingMixed-useNews

Two Tenants Sign Leases Totaling 18,011 Square Feet at 27-Acre Miami Worldcenter 

by Hayden Spiess

Miami — Two new tenants have signed leases at Miami Worldcenter, a 27-acre mixed-use project being developed in phases in downtown Miami. Beginning next year, The Container Store and and Sweet Paris Creperie & Café will occupy 15,681 and 2,330 square feet, respectively. Miami Worldcenter Associates is developing the property with CIM Group, which handles retail leasing at the project. Retail space at the development is now more than 90 percent leased. Other tenants include Chug’s Express, El Vecino Cigar & Cocktail Bar, lululemon, Sephora, Sports & Social and Club Studio. 

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Mel-Sembler
Company newsFloridaNews

The Sembler Co. Founder Mel Sembler Dies at 93

by Hayden Spiess

St. Petersburg, Fla. — Florida-based developer and founder of The Sembler Co. Mel Sembler has passed away at the age of 93, according to a statement from the company.  Sembler founded his eponymous real estate company in 1962. To date, it has completed more than 350 developments totaling 29 million square feet. Additionally, the company manages and leases 10 million square feet of real estate and has offices in St. Petersburg, Florida, Atlanta and Puerto Rico. Currently, The Sembler Co.’s portfolio includes Belmont Shopping Center in Ruskin, Florida, and North Macon …

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Shoppes-at-Monterra-Commons_Cooper-City-Fla
DevelopmentFloridaLeasingMixed-useNewsRestaurants

Three Tenants Open at The Shoppes at Monterra Commons in Florida

by Hayden Spiess

Cooper City, Fla. — Three tenants have opened at The Shoppes at Monterra Commons, a 153,618-square-foot mixed use property in Cooper City. Culver’s, First Watch and The Learning Experience now occupy 4,300; 3,700; and 10,000 square feet at the development, which was completed in August. Cali Coffee, Playa Bowls, Gyromania, Oaxaka, Tide Cleaners, Blueprint Cookies, Jonari Dental, Kami Nail House, Huey Magoos and AA Mint have also signed leases totaling 16,330 square feet at the property. Diversified Realty Development is the landlord and developer. 

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Century-Town-Center_Doral-Fla
FloridaLeasingMixed-useNews

Three Retail Tenants Sign Leases at Century Town Center in Doral, Florida

by Hayden Spiess

Doral, Fla. — Three new tenants have signed leases at Century Town Center, a mixed-use property in Doral. My Salon Suites, Rumble Boxing and Kidstrong will occupy 5,910; 2,541; and 2,734 square feet of ground-floor retail space, respectively. Phase I of Century Town Center features 326 residential units and 31,000 square feet of retail space. A planned second phase of the project will comprise an additional 408 residential units and 27,000 square feet of retail space. Rafael Romero and Malina Huynh of JLL represented the landlord — a partnership between Mattoni …

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Trail-Plaza_Miami
FloridaGrocery-anchoredInvestment salesNews

CBRE Brokers $49.3 Million Sale of Shopping Center in Miami

by Hayden Spiess

Miami — CBRE has brokered the $49.3 million sale of Trail Plaza, a 181,558-square-foot shopping center located in Miami. Built in 1987, the property was 99 percent leased at the time of sale. Tenants at the center include Fresco y Más, Walgreens, Harbor Freight Tools and Party Depot. Casey Rosen and Dennis Carson of CBRE represented the undisclosed seller in the transaction. An entity controlled by Longpoint Realty Partners acquired the property. 

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Causeway-Shopping-Center_Indian-Harbour-Beach-Fla
FloridaLeasingNews

Michaels to Open 21,000-Square-Foot Store at Causeway Shopping Center in Florida

by Hayden Spiess

Indian Harbour Beach, Fla. — Michaels will open a 21,000-square-foot store at Causeway Shopping Center in Indian Harbour Beach this year. Construction is currently underway on the store, which will be located in the space formerly occupied by Office Depot, adjacent to Ross Dress for Less. Forge Real Estate Partners III, a joint venture between The Sembler Co. and Forge Capital Partners, is the landlord. Other tenants at the 112,000-square-foot property include Panera Bread, GNC and Bealls Outlet. The center is now 85 percent occupied. 

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