Fort Myers, Fla. — Marcus & Millichap has arranged the $13.2 million sale of Market Square, a 65,688-square-foot shopping center in Fort Myers. Jim Shiebler, James Medefind and James Garner of Marcus & Millichap represented the undisclosed seller and procured the buyer, a New Jersey-based private investor. Situated on 14.9 acres, the center is 1.5 miles from Florida Southwestern State College. Tenants at the property, which was built between 2004 and 2006, include Michaels, World Market, Petco, Dollar Tree and Barnes & Noble.
Florida
Doral, Fla. — Marcus & Millichap has brokered the $57 million sale of Doral Shops, a 113,354-square-foot shopping center located in Doral, a suburb of Miami. Built in 2002 on nearly six acres, the shopping center was 99 percent leased at the time of sale to Navarro Discount Pharmacy, as well as 12 restaurants and several service-oriented tenants on the ground floor. The second floor of Doral Shops, which spans roughly 40,000 square feet, houses service retailers and office space. Scott Sandelin and Edward Romo of Marcus & Millichap’s Miami …
Lutz, Fla. — SRS Real Estate Partners has arranged the sale of a 4,854-square-foot, single-tenant retail building in Lutz, approximately 15 miles north of Tampa. Chick-fil-A occupies the property via a ground lease and plans to open next month. Patrick Nutt and William Wamble of SRS represented the seller, Ferber Development, in the $2.7 million transaction. A private Florida-based investor acquired the property, which is located at 17693 Harpers Run and is an outparcel to Cypress Ranch, a 164-acre mixed-use development project.
Miami Beach, Fla. — Northmarq has arranged the sale of a 22,857-square-foot property located at 509 Collins Ave. in Miami Beach. Jason Maier of Northmarq represented the buyer, a New York-based private investor, in the $35.3 million transaction. The single-tenant property, which was sold by an undisclosed New York-based individual, is leased to Walgreens on a triple-net basis.
Crestview, Fla. — Cleeman Realty Group has arranged the sale of Northcrest Shopping Center, a 55,152-square-foot retail center located in Crestview. Michael Cleeman of Cleeman represented the seller in the $7 million transaction. Located at 1355 N. Ferdon Blvd., the property is anchored by a Publix Supermarket.
Melbourne, Fla. — A joint venture between CrossMarc Services LLC and MCB Real Estate — in partnership with Peaceable Street Capital — has purchased Post Commons, a 202,050-square-foot shopping center located in Melbourne. The property was 96 percent leased at the time of sale to tenants including Publix, which occupies 44,270 square feet; Beall’s; Pet Supermarket; Burlington; and Five Below. Marcus & Millichap represented the undisclosed seller in the transaction. Flavia Kanyago of CrossMarc will handle leasing at the center.
Orlando, Fla. — Albany Road Real Estate Partners has purchased Lake Point Commerce Center, a 134,000-square-foot retail center in Orlando. Located near the Orlando International Airport, the property comprises six buildings and sits within Lee Vista Center, a mixed-use development. Lake Point was 98 percent leased at the time of sale to 19 tenants, including Flying Food Group. Patterson Real Estate Advisory Group secured financing on behalf of the buyer through Trustmark National Bank.
Pensacola, Fla. — JLL has arranged the sale of Pensacola Square, a 142,767-square-foot shopping center located in Pensacola. Brad Peterson and Whitaker Leonhardt of JLL represented the seller, an affiliate of RCG Ventures LLC. Pensacola Square, which was 95 percent leased at the time of sale, is anchored by Big Lots and shadow-anchored by Hobby Lobby. Tenants at the property include American Freight Outlet, Beall’s Outlet and Petland. A private Florida-based family office acquired the shopping center for an undisclosed price.
Palmetto, Fla. — Primerica Developments Inc. has announced the addition of six new tenants to Gateway Commons, a shopping center located in Palmetto, off of Tampa Bay. New tenants include Pure Barre, Mid Florida Insurance Group and The Blend Coffee & Cocktails, as well as three as yet unnamed tenants including a fast-food restaurant, a wireless provider and a medical group. Existing tenants at the shopping center include Publix Super Market, Jet’s Pizza, Hornback Chiropractic & Wellness, Nail Boutique and Spa, Yummy Tokyo Asian Fusion Bistro and Dental Care at …
Port Richey, Fla. — Marcus & Millichap has brokered the $7.7 million sale of Harmony Plaza, an 82,820-square-foot shopping center located in Port Richey. James Medefind, Jim Shiebler, James Garner and Jonathan Gerszberg of Marcus & Millichap represented the seller, a California-based private investor, in the transaction. A private investor purchased the property. Built in 1973 and located on a six-acre site, Harmony Plaza was 87 percent leased at the time of sale to tenants including Big Lots.