Florida

Hanley Brokers Sales of Three Walgreens-Occupied Properties Totaling $22.6 Million

by Hayden Spiess April 10, 2023

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 …

April 10, 2023

Development Florida News

Azor-Led Partnership Breaks Ground on 6,119-Square-Foot Wawa Gas Station in Metro Miami

by Hayden Spiess April 7, 2023

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 …

April 7, 2023

Florida Leasing News

French Apparel Retailer Etam to Open First US Store at Dadeland Mall in South Florida

by Hayden Spiess April 4, 2023

Kendall, Fla. — Etam, a French apparel retailer founded in 1916, plans to open its first U.S. store at Dadeland Mall, a shopping mall in the Miami suburb of Kendall. Simon, the mall’s landlord, expects to debut the new Etam store this summer. The store will carry Etam’s line of lingerie, bras, underwear, sleepwear and swimwear. The retailer currently operates more than 850 stores throughout Europe, the Middle East, Latin America and Asia. Other international brands that operate stores at Dadeland Mall include Mango, Bimba y Lola, Razer and Tous.

April 4, 2023

Florida Grocery-anchored Investment sales News

PGIM Sells Two Publix-Anchored Centers in Florida for $32 Million

by Hayden Spiess March 31, 2023

Miramar and Jensen Beach, Fla. — PGIM Real Estate has sold two Publix Super Markets-anchored shopping centers in Florida to Phillips Edison & Co. for a combined $32 million. The properties include the 70,288-square-foot Shops at Sunset Lakes in Miramar and the 109,811-square-foot Town Center at Jensen Beach. Danny Finkle, Eric Williams, Jorge Portela and Kim Flores of JLL represented PGIM in both transactions. Built in 1999, Shops at Sunset Lakes was 98.4 percent leased at the time of sale to Goodwill, State Farm Insurance, Sedation Dental Spa, Small World …

March 31, 2023

Development Florida Investment sales Leasing News

Benderson Acquires Two Retail Properties, Opens Publix in Sarasota, Florida

by Hayden Spiess March 31, 2023

Sarasota, Fla. — Benderson Development has acquired two properties in Sarasota. One of the properties is a former Café Baci restaurant, and the second — which comprises 16,500 square feet — is leased to Walgreens. Additionally, Benderson opened a newly rebuilt Publix grocery store at retail center The Landings, which the company purchased in 2012 and has since renovated. 3Natives, Pacific Counter and Crumbl Cookies are also scheduled to join the tenant roster. Other tenants at the retail center include Florence and the Spice Boys, The Breakfast Company, Origin Craft …

March 31, 2023

Florida Investment sales Net lease News

Marcus & Millichap Brokers $4.5 Million Sale of CVS-Leased Retail Property in Sarasota, Florida

by Hayden Spiess March 28, 2023

Sarasota, Fla. — Marcus & Millichap has brokered the $4.5 million sale of a 10,378-square-foot retail property located in Sarasota. CVS/pharmacy occupies the building on a net-lease basis. The property was built in 1999 on a 1.6-acre site. Joseph Prio, Alan Lipsky and Barry Wolfe of Marcus & Millichap arranged the sale on behalf of the seller, FFT Livingstone Investors Inc. An undisclosed private investor was the buyer.

March 28, 2023

Florida Investment sales Net lease News

Hanley Arranges $5.9 Million Sale of Single-Tenant Retail Property in Metro Jacksonville

by Hayden Spiess March 16, 2023

St. Johns, Fla. — Hanley Investment Group Real Estate Advisors has arranged the $5.9 million sale of a single-tenant retail property located in St. Johns, roughly 30 miles southeast of Jacksonville. Built in 2021, the 10,395-square-foot building is net leased to childcare provider O2B Kids! Jeff Lefko, Bill Asher and Dylan Mallory of Hanley Investment Group, in association with ParaSell Inc., represented the seller, a private investor based in Port Orange, Florida. Raem Capital Advisors represented the buyer, a private investor from the New York City metropolitan area, in the …

March 16, 2023

Development Florida Leasing Mixed-use News

Fitness Concept Signs 38,400-Square-Foot Lease at Mixed-Use Development in Miami

by Hayden Spiess March 15, 2023

Miami — Club Studio, a fitness retail concept and part of Fitness International LLC, has signed a 38,400-square-foot lease at Grove Central, a mixed-use development underway in Miami’s Coconut Grove neighborhood. A joint venture between Miami-based developers Terra and Grass River Property is developing Grove Central, which is expected to open in 2024. In addition to a residential tower and parking garage, the development will feature approximately 170,000 square feet of neighborhood-oriented retail space. Other retailers committed at the project include Target, Sprouts Farmers Market, Total Wine and Five Below.

March 15, 2023

Florida Investment sales Net lease News Restaurants

NAI Hallmark Brokers $3.7 Million Sale of Chipotle Property in Jacksonville

by Hayden Spiess March 13, 2023

Jacksonville, Fla. — NAI Hallmark has brokered the $3.7 million sale of a 2,425-square-foot property located in Jacksonville. Chipotle Mexican Grill will occupy the newly constructed building on a 15-year, triple-net-lease basis. Daniel Burkhardt and Keith Goldfaden of NAI represented the seller, C & C Jax Investors, in the transaction. A private investor purchased the property.

March 13, 2023

Finance Florida News

MMCC Secures $9.6 Million Acquisition Financing for Magic Mall Plaza in Orlando

by Hayden Spiess March 10, 2023

Orlando, Fla. — Marcus & Millichap Capital Corp. (MMCC) has secured $9.6 million in acquisition financing for Magic Mall Plaza, a flea market-style shopping center located in Orlando. Built in 1971 and renovated in 2000, the complex totals 128,939 square feet. Garrett Fierstein of MMCC’s Orlando office originated the financing on behalf of the undisclosed borrower. The 10-year loan features a fixed 5.68 percent interest rate and a 25-year amortization schedule.

March 10, 2023

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