Debary, Fla. — Legacy Realty Group Advisors has brokered the $5.3 million sale of Debary Commons, a shopping center located in Debary, roughly 26 miles outside Orlando. Winn Dixie anchors the 64,000-square-foot property. Jacob Baruch, Daniel Baruch and Max Yardeni of Legacy represented both the buyer and seller in the transaction.
Sarasota, Fla. — Benderson Development has acquired Bee Ridge Square, a 128,399-square-foot shopping center located in Sarasota. Burlington anchors the center, which is leased to 15 tenants including Stage Door Studios, OfKors Bakery and EGGSTraordinary Café. Justin Smith, Chris Peterson, Fred Victor and Sam Koonce of Atlantic Capital Partners represented the seller and procured the buyer in the transaction.
Bradenton, Fla. — Marcus & Millichap’s Institutional Property Advisors (IPA) has brokered the $12.1 million sale of Southwood Shops, a 107,697-square-foot shopping center located in the Tampa suburb of Bradenton. Kirk Olson and Drew Kristol of IPA represented the seller, an entity doing business as Bradwood Shopping Center Co. Ltd., and procured the buyer, a Miami-based partnership doing business as Southwood Shops LLC. Built in 1981, Southwood Shops was fully leased at the time of sale to tenants including Winn-Dixie.
Delray Beach, Fla. — PEBB Enterprises has signed new leases totaling 27,099 square feet at Delray Landing, a shopping center the company is currently redeveloping in Delray Beach. Retro Fitness will occupy 17,299 square feet at the property and Crown Wine will lease 4,100 square feet. Keke’s Breakfast Café and a dentist office will also open at the center, leasing 4,200 and 1,500 square feet, respectively. Sprouts Farmers Market anchors the property, which is also leased to Burger King and Taco Bell. PEBB acquired the shopping center in June 2021 …
Brandon, Fla. — SRS Real Estate Partners’ National Net Lease Group has brokered the $8.1 million portfolio sale of two single-tenant net-lease retail properties totaling 6,454 square feet in Brandon, roughly 13 miles outside Tampa. The restaurants, which are occupied by Panera Bread and Chipotle Mexican Grill, are outparcels to Lake Brandon Plaza, a 200,000-square-foot, Publix-anchored shopping center. Both properties were completed this year and have new 15-year, absolute triple-net leases in place. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based private investor, in the 1031 …
Miami —BH3 Management and Merrimac Ventures have acquired development rights for a 10.7-acre site on Watson Island, an island within Miami city limits. The land is owned by the City of Miami and fronts Biscayne Bay midway between downtown Miami and Miami Beach. Alex Zylberglait of Marcus & Millichap brokered the transaction. A site plan is already approved, combining hotel, retail and residential uses alongside new public space and a waterfront promenade. While the plan will be updated, BH3 Management and Merrimac Ventures intend to develop within the same footprint …
Los Angeles — Matthews Real Estate Investment Services has brokered the $20.1 million sale of a portfolio comprising 12 single-tenant retail properties. Located in Alabama, California, Florida, Georgia, Illinois, Mississippi, New York, North Carolina, Texas, Virginia and Washington, the properties are all occupied by Napa Auto Parts on a net-lease basis. Brandon Perez and Bill Pedersen of Matthews arranged the sale on behalf of the undisclosed limited liability company. A publicly traded REIT purchased the portfolio.
Kissimmee, Fla. — SRS Real Estate Partners has brokered the $28.4 million sale of WaterStar Orlando, a 79,680-square-foot shopping center under construction in Kissimmee, roughly 18 miles outside Orlando. Equinox Development Properties is the seller and developer of the center, which is scheduled to open within the next few months. Marshalls, Burlington and pOpshelf will anchor the property, which will also house Noire Nail Bar and Keke’s Breakfast Café. An entity doing business as Orlando 22 LLC purchased the center. Kyle Stonis, Pierce Mayson and Kevin Yaryan of SRS’ Investment …
Corona Del Mar, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sales of three single-tenant properties totaling $22.6 million. Each of the properties is leased to Walgreens. Kevin Fryman and Ed Hanley of Hanley, in association with ParaSell Inc., arranged the sale of the first property, located in Minneapolis, on behalf of the seller, a California-based private investor. A New York-based private investor purchased the 14,535-square-foot building for $6.6 million. Located in Sugar Grove, Illinois, the second property comprises 14,739 square feet. Bill Asher, Jeff Lefko and …
Plantation, Fla. — A partnership led by South Florida shopping center owner and developer Beth Azor has begun construction on a 6,119-square-foot Wawa gas station and convenience store located in Plantation, roughly 30 miles north of Miami. The partnership, which is doing business as FLA BPI LLC, broke ground on the project April 4. The 1.7-acre property is situated within the northern portion of a three-acre site acquired by the partnership in 2016. Midtown Crossing, a 6,400-square-foot retail center, occupies the southern portion. Scheduled for completion in 12 months, the …
