Lakeland, Fla. — Marcus & Millichap has brokered the $9.2 million sale of Eastside Village, a 76,264-square-foot retail property located in Lakeland, about 35 miles from Tampa. Drew Kristol and Kirk Olson of Marcus & Millichap represented the seller, CF Properties. The undisclosed buyer was a Miami-based private investor. Eastside Village is anchored by Harvey’s Supermarket. The property was fully occupied at the time of sale by tenants including Subway and Dollar Tree.
Brooksville, Fla. — JLL Capital Markets has arranged the $9.2 million sale of Sunrise Plaza, an 86,815-square-foot shopping center anchored by a Winn-Dixie in Brooksville, about 50 miles from Tampa. Brad Peterson and Whitaker Leonhardt of JLL represented the seller, ProVest Properties LLC. An affiliate of Island Associates Real Estate acquired the property. Constructed in 1991 and most recently renovated in 2021, the 90 percent-leased center features tenants, including Anytime Fitness, Winn-Dixie Liquor, Beef ‘O’ Brady’s, Access Care Health Physicians and River Ridge Animal Clinic.
Miami — Sprouts Farmers Market is set to open a 24,014-square-foot location at Grove Center, a mixed-use, transit-oriented development underway in Miami’s Coconut Grove neighborhood. Scheduled for delivery in 2023, Grove Center will include a 23-story residential tower with 402 multifamily, workforce and co-living units; a 1,250-space public parking garage; and 170,000 square feet of retail space. The project is being developed by a joint venture between Terra and Grass River Property. The development team includes Touzet Studio, RSP Architects and Walter Meyer of New York’s Local Office Landscape Architecture. …
Atlanta and New York City — Blackstone Real Estate Income Trust Inc. (BREIT) has entered into a definitive agreement to acquire Preferred Apartment Communities Inc. (PAC) for approximately $5.8 billion. Under the terms of the agreement, BREIT will acquire all outstanding shares of PAC’s common stock for $25 per share in an all-cash transaction. PAC’s portfolio includes 44 multifamily communities totaling approximately 12,000 units concentrated largely in Atlanta, Orlando, Tampa, Jacksonville, Charlotte and Nashville, as well as 54 grocery-anchored retail assets comprising roughly 6 million square feet in Atlanta, Orlando, …
Atlanta — Stockbridge has acquired a six-property, grocery-anchored portfolio located in five markets across the Southeast. Branch Properties will maintain minority ownership in the portfolio and will continue to handle management and leasing at the property level. The portfolio features grocers Publix Super Markets and Harris Teeter, along with a mix of service providers, retailers and restaurants. The six properties, totaling 765,969 square feet, include Burnt Store Marketplace in Punta Gorda, Florida; Village Shoppes of Sugarloaf in Lawrenceville, Georgia; Five Forks Corners in Lilburn, Georgia; Waterford Village in Wilmington, North …
Orlando, Fla. — Marcus & Millichap has arranged the $5.8 million sale of Shoppes at Lee, a two-building, 19,970-square-foot retail strip center in Orlando. Located at 1084 Lee Road, the property was leased to tenants including FedEx Office, Boost Mobile, Little Caesar’s and Trustco Bank at the time of sale. Nick Ledvora of Marcus & Millichap represented the seller, an entity doing business as Peak 14 LLC, and procured the buyer, Malhan Investments LLC, in the transaction.
Homosassa, Fla. — TSCG has arranged the $10.5 million sale of Springs Plaza, a Publix-anchored center in Homosassa. Anthony Blanco of TSCG represented an affiliate of E.J. Plesko & Associates in the sale of the property to an affiliate of the RG Property Group. Completed in 1986 and renovated in 1995, Spring Plaza totals 96,647 square feet. The property was 96 percent leased at the time of sale to tenants including Aaron’s Rents, T-Mobile and Quick Care Medical Clinic. The center is situated at the intersection of US Highway 98 …
Orlando, Fla. — Huey Magoo’s, a fast food chicken tender restaurant, has plans to open 30 restaurants across the Southeast by the end of the year. The 30 locations will add to the Orlando, Florida-based company’s 20 existing restaurants. In addition, Huey Magoo’s has partnered with Boyd Gaming Corp. to open a restaurant at Boyd’s Fremont Hotel and Casino in downtown Las Vegas by the end of 2022. The company has also signed franchise agreements to open eight stores in the Fort Myers and Naples, Florida area; and five stores …
Coconut Creek, Fla. — CBRE has arranged the $11.9 million sale of Lyons Plaza, a multi-tenant retail center in Coconut Creek, roughly 35 miles north of Miami. The 80,361-square-foot property includes two freestanding outparcel buildings. At the time of sale, Lyons Plaza was 91 percent leased to 27 retail tenants, including Conviva Care Center and Goldcoast Ballroom. David Donnellan and Patricia Friend of CBRE represented the seller, Lyons Plaza Coconut Creek LLC, in the disposition of the property to 1301 Lyons LLC.
Delray Beach, Fla. — Sleiman Enterprises has acquired Delray Square, a 160,000-square-foot shopping center in Delray Beach. Berkeley Capital Advisors represented the undisclosed seller in the transaction. Delray Square was 96 percent occupied at the time of sale by tenants including Publix, Hobby Lobby, Walgreens, Chipotle Mexican Grill and Chick-fil-A. Publix recently relocated to a newly constructed 45,600-square-foot space at the property, while Hobby Lobby recently signed a long-term lease with plans to open in the next few months.
