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FloridaGrocery-anchoredInvestment salesNews

Terra Sells 16000 Pines Market Retail Center in Florida for $56 Million

by Hayden Spiess

Pembroke Pines, Fla. —Terra has sold 16000 Pines Market, a 135,000-square-foot retail center located in Pembroke Pines, for $56 million. Situated on 13.2 acres and developed between 2020 and 2022, the property was fully leased at the time of sale. Publix anchors the center. Other tenants include Crunch Fitness, Burlington, First Watch Café, Verizon Wireless, Everglades Family Dental, Tropical Smoothie Café, Cheddar’s Scratch Kitchen, Jersey Mike’s Subs and MD-Now Urgent Care Center. The property also features two standalone parcels that house a U.S. post office and Regions Bank. Mark Gilbert and …

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8701-W-Hillsborough-Ave_Tampa-Publix
FloridaInvestment salesNet leaseNews

Marcus & Millichap Brokers $7.3 Million Sale of Single-Tenant Property in Tampa, Florida

by Hayden Spiess

Tampa, Fla. — Marcus & Millichap has brokered the $7.3 million sale of a freestanding store located in Tampa. Publix occupies the 64,031-square-foot property on a net-lease basis. Situated on 6.3 acres, the store was built in 1977 as an Albertsons. Evan Cannan and Reid Thedford of Marcus & Millichap represented the seller, a private investor whose family has owned the land for nearly a century. Dean Zang, David Crotts, and Josh Ein of Marcus & Millichap procured the buyer. 

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Walgreens_Key-West-Fla
FloridaInvestment salesNews

Orion Acquires 10,174-Square-Foot Walgreens-Occupied Building in Key West, Florida

by Hayden Spiess

Key West, Fla. —Orion Buying Corp. has acquired a 10,174-square-foot property located in Key West for $5.3 million. Walgreens occupies the building, which formerly housed the historic Strand Theater and also includes two residential apartments. Kevin Sanz of Orion Real Estate Group represented Orion Buying Corp., which is comprised of entities doing business as Limestone Ruby Raleigh LLC, Limestone Ruby Loganville LLC and Limestone Ruby Lithia Springs LLC. Brian Pfohl of CBRE represented the seller, Walgreens Co. Ocean Bank is providing financing for the transaction. 

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DevelopmentFloridaLeasingMixed-useNewsRestaurants

Four Restaurants to Open at $6 Billion Miami Worldcenter Development in Florida

by Hayden Spiess

Miami, Fla. — Four restaurants will join the food-and-beverage lineup at Miami Worldcenter, a 27-acre, $6 billion mixed-use development currently underway in Miami. Serafina and Sixty Vines will lease 8,176 square feet and 8,672 square feet, respectively. NDM Hospitality Services will also open a dual-concept venue featuring BurgerFi and Anthony’s Coal Fired Pizza & Wings. Together, the two restaurants will occupy 3,835 square feet of space. Each of the restaurants is scheduled to open next year. CIM Group and The Comras Co. lead retail leasing efforts at the project. 

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FloridaInvestment salesNews

Limestone, Orion Purchase Two Walgreens-Leased Properties in Florida for $15.6 Million

by Hayden Spiess

Hialeah and Miami, Fla. — Limestone Asset Management and Orion Real Estate Group, doing business as Limestone Wells, have purchased two single-tenant, Walgreens-leased properties in Florida for $15.6 million. Located in Miami and Hialeah, the properties total 17,909 square feet and 14,490 square feet, respectively. Kevin Sanz of Orion represented the buyers in the all-cash transaction. Brian Pfohl of CBRE represented the seller, Walgreens Co. 

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Beachwalk_St-Johns-County-Fla
DevelopmentFloridaLeasingMixed-useNews

PEBB, Falcone Group Sign Three New Tenants to Beachwalk Project in Florida

by Hayden Spiess

St. Johns County, Fla. — PEBB Enterprises and Falcone Group have signed three new tenants to the retail and restaurant space at Beachwalk, a mixed-use project currently underway in St. Johns County. Starbucks Coffee, Fancy Sushi and Playa Bowls will occupy 2,500, 1,500 and 1,200 square feet, respectively. The new leases bring the retail and restaurant space at the development, which totals 170,000 square feet, to 55 percent occupancy. Other tenants at the project include Fysh Bar & Grill, Noire Nail Bar, F45 Fitness, BurgerFi, Supercuts, Kilwins, Bagels R Us, Island …

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University Commons
FloridaGrocery-anchoredInvestment salesNews

Marcus & Millichap Brokers $14.8 Million Sale of University Commons Shopping Center in South Florida

by Hayden Spiess

Tamarac, Fla. — Marcus & Millichap has brokered the $14.8 million sale of University Commons, an 80,224-square-foot shopping center located in Tamarac. Quince Supermarket anchors the property. Other tenants include Dunkin’ Donuts, Quest Diagnostics and Tire Choice. The buyer, an undisclosed New York-based private investor, purchased the center from a private investment firm based in Miami. Drew Kristol and Kirk Olson of Marcus & Millichap represented the seller in the transaction. 

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FloridaInvestment salesNews

IPA Brokers $18.1 Million Sale of Bay City Point Shopping Center in Florida

by Hayden Spiess

Panama City, Fla. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $18.1 million sale of Bay City Point, a 121,413-square-foot shopping center located in Panama City. Tenants at the property include Hobby Lobby, Burlington, Five Below, Sketchers and Ulta Beauty. Zach Taylor of IPA represented the seller, Ledbetter Properties, in the transaction. 

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FinanceFloridaNews

Concord Summit Arranges $42 Million Financing for Retail Center in Florida

by Hayden Spiess

Kissimmee, Fla. — Concord Summit Capital has arranged a $42 million bridge loan for the financing of The Promenade at Sunset Walk—Margaritaville Resort, a retail center located in Kissimmee, roughly 22 miles outside Orlando. The 14-building property comprises 192,659 square feet and is situated within the 325-acre master-planned community of Sunset Walk. Kevin O’Grady and Justin Neelis of Concord Summit secured the financing through BridgeInvest on behalf of the borrower, Encore Capital Management. The property’s inline space was fully leased at the time of financing, with one vacant pad space available. …

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DevelopmentFloridaNews

Barron Collier Underway on 21,000-Square-Foot Retail Center in Florida

by Hayden Spiess

Naples, Fla. — Barron Collier is underway on the construction of a 21,000-square-foot retail center in Naples. Situated within the developer’s Ave Maria master-planned community, the development is scheduled for completion next summer. Tenants at the property will include NCH Immediate Care Center, Sunshine Ace Hardware, Dunkin’ Donuts, LEDO Pizza and Cold Stone Creamery. 

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