Sanford, Fla. — Greenberg Gibbons has acquired Gateway Plaza, a 214,789-square-foot power center located in Sanford, for $23.6 million. Floor & Décor, Ashley Furniture, Bed Bath & Beyond, Dollar Tree and Michaels anchor the center. The property was purchased through the company’s Greenberg Gibbons Real Estate Income Fund, which launched in March 2021 with a focus on the acquisition of shopping centers throughout the East Coast, Southeast and Midwest. This is the fund’s fourth acquisition and the company’s first property in Florida. The seller in the transaction was undisclosed.
Doral, Fla. — Marcus & Millichap has arranged the $11 million sale of Doral Park Centre, a 13,925-square-foot retail strip center in Doral. Edward Romo and Scott Sandelin of Marcus & Millichap represented the seller, an affiliate of IRAS Group, and Kristina Filippone of First City Realty Partners Inc. procured the undisclosed buyer in the transaction. Built in 2017, Doral Park Centre is a seven-suite property that was fully leased at the time of sale to tenants including 5.11 Tactical Miami, PANNA New Latino Food, Ohana Sushi, 107 Beauty Bar …
Clermont, Fla. — Continental Realty Corp. has sold Glenbrook Commons, a 64,707-square-foot shopping center in Clermont, about 34 miles from Orlando. Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented the seller in the transaction. CrossMarc Services acquired the property for $9.4 million. Originally constructed in 2009, Glenbrook Commons was 98.4 percent leased at the time of sale. Fitness CF anchors the center, which is also home to US Taekwondo, China Gourmet, Gametime Barber Shop, The Cat Garden, Clermont Family Dentistry and Suncoast Premier Medical. There were three additional …
Orlando, Fla. — Marcus & Millichap has brokered the $22 million sale of Hoffner Commerce Center, a 93,749-square-foot retail property in Orlando. Located at 5449 S. Semoran Blvd., the 53-suite building was 93 percent occupied at the time of sale by tenants including Herbalife, Labcorp and State Farm Auto Insurance. Salim Valiani and Andrew Jaworski of Marcus & Millichap represented the seller, Hoffner Center LLC, and procured the buyer, Arturo Borges of Avanti Way Capital, in the transaction.
Miami Beach, Fla. — A joint venture between East End and BentallGreenOak has sold 555 Washington, a mixed-use property in Miami Beach totaling 65,746 square feet of office and retail space, for $52.5 million. Hermen Rodriguez, Ike Ojala and Matthew McCormack of JLL represented the seller in the disposition of the property to a partnership between Greenmont Group and Davis. Renovated in 2015, 555 Washington offers 44,516 square feet of creative office space, along with 21,230 square feet of ground-floor retail space. The property was 82 percent leased at the …
Miami — Marcus & Millichap has arranged the $23 million sale of a 17-suite retail portfolio in Miami dubbed Midtown Miami. The portfolio is occupied by tenants such as Citi Bank, 305 Kicks, Calligaris, Wynwood Tattoo and Galerie Monnin. Alex Zylberglait, Alejandro D’Alba and Scott Sandelin of Marcus & Millichap represented the seller, Block Capital Group, and procured the buyer, Rüger Holding KG. Robert Bhat of Marcus & Millichap arranged an undisclosed amount of acquisition financing for the buyer. The Midtown Miami retail portfolio features two buildings totaling 24,925 square …
Lake Worth Beach and West Palm Beach, Fla. — Current Capital Management has acquired two shopping centers in Lake Worth Beach and West Palm Beach for $12.8 million. Todd Nepola of Current Capital Management led the acquisition transaction for his company. Raj Gupta and Anita Gupta of Chatam Management were the sellers. Benedict Gutierrez of Marcus & Millichap arranged the transaction. Matthew Korshoff of South State Bank provided a $9 million loan for the acquisition. The two centers acquired were Coco Plum Plaza, a 43,801-square-foot retail center located at 2845 …
Orlando, Fla. — Navarra Investments LLC has sold Avenue Shoppes, a 42,196-square-foot retail strip center and outparcel in Orlando, for $8.1 million. John Krzyminski and Max Krzyminski of JLL represented the seller and procured the buyer, House Reform Group. Originally constructed in 1988, Avenue Shoppes was most recently renovated in 2020 when the seller implemented a capital improvement plan to reposition the property. The property was 94 percent leased at the time of sale to tenants including Euro Living, Wallcoverings Mart, Toxic Lounge, Greenberg Dental, GL Staffing, Little New Orleans, …
Panama City Beach, Fla. — Marcus & Millichap Capital Corp. has arranged $6.8 million in acquisition financing for Villages of Grand Panama, a 48,000-square-foot retail property located at 1105 Hutchinson Blvd. in Panama City Beach. Garrett Fierstein of Marcus & Millichap secured the 10-year, fixed-rate loan, which features a 70 percent loan-to-value ratio and an interest rate of 3.95 percent. The 19-tenant property sits on 5.1 acres of land and is occupied by an array of tenants including medical, real estate and professional services uses, as well as two restaurants.
Lake Mary, Fla. — JLL Capital Markets has arranged the $8.7 million sale of Lake Mary Pointe, a 51,052-square-foot shopping center anchored by Publix in Lake Mary, about 27 miles from Orlando. Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL marketed the property on behalf of the seller, HS Capital Funds Inc. Tricon Development of Brevard Incorporated acquired the property. The property was 98 percent leased at the time of sale to tenants including Healthy Pets and Urgent Care, Flawless Hair Salon, China Star, Mariner Finance, Jailisco, Divine Nails …