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Regency Centers Agrees to Acquire Urstadt Biddle Properties in $1.4 Billion Shopping Center REIT Merger

by Hayden Spiess

Greenwich, Conn. and Jacksonville, Fla. — Jacksonville-based REIT Regency Centers (NASDAQ: REG) has agreed to acquire Urstadt Biddle Properties (NYSE: UBA) in an all-stock transaction valued at $1.4 billion. Urstadt Biddle Properties is a REIT based in Greenwich that primarily invests in shopping centers. The combined company will have a market capitalization of approximately $11 billion and total enterprise value of approximately $16 billion. The combined portfolio will comprise 56 million square feet of gross leasable area across 481 properties. Under the terms of the agreement, Urstadt Biddle’s stockholders will …

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FloridaInvestment salesNews

WS Development, PGIM Acquire 550,000-Square-Foot Retail Center in Viera, Florida

by Hayden Spiess

Viera, Fla. — WS Development and PGIM Real Estate have acquired The Avenue Viera, a 550,000-square-foot open-air retail center in Viera. Situated within the 43,000-acre master-planned Viera community, the property features more than 80 retail, restaurant and entertainment tenants. WS Development will assume management of the center.

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thepomp
DevelopmentFloridaMixed-useNews

Cordish, Caesars Reveal Plans for 223-Acre Mixed-Use Project in Pompano Beach, Florida

by Hayden Spiess

Pompano Beach, Fla. — The Cordish Cos. and Caesars Entertainment Inc. (NASDAQ: CZR) are co-developing The Pomp, a 223-acre mixed-use development in Pompano Beach. The property’s name pays homage to the former Pompano Park racetrack on the project site, which is located 35 miles north of Miami and 10 miles north of Fort Lauderdale. Upon completion, The Pomp will feature 1.3 million square feet of retail and entertainment space, as well as 4,000 residential units, two hotels and approximately 1.4 million square feet of office space. The project will include …

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FloridaLeasingNews

Five New Tenants Join Shops at Merrick Park in Metro Miami

by Hayden Spiess

Coral Gables, Fla. — Five new tenants will join Shops at Merrick Park, a retail center located in Coral Gables, roughly five miles outside downtown Miami. Home furnishing store Arahus, Coco Cigars and Miami Royal Ballet Dance School will open on the first level. Beverage shop Boisson and women’s, children’s, home and sleepwear retailer Splendid will also join the property on the second level. Shusha Boutique also recently opened on the third level.

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FloridaGrocery-anchoredInvestment salesNews

Legacy Brokers $5.3 Million Sale of Debary Commons in Metro Orlando

by Hayden Spiess

Debary, Fla. — Legacy Realty Group Advisors has brokered the $5.3 million sale of Debary Commons, a shopping center located in Debary, roughly 26 miles outside Orlando. Winn Dixie anchors the 64,000-square-foot property. Jacob Baruch, Daniel Baruch and Max Yardeni of Legacy represented both the buyer and seller in the transaction.

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FloridaInvestment salesNews

Benderson Acquires 128,399-Square-Foot Shopping Center in Sarasota, Florida

by Hayden Spiess

Sarasota, Fla. — Benderson Development has acquired Bee Ridge Square, a 128,399-square-foot shopping center located in Sarasota. Burlington anchors the center, which is leased to 15 tenants including Stage Door Studios, OfKors Bakery and EGGSTraordinary Café. Justin Smith, Chris Peterson, Fred Victor and Sam Koonce of Atlantic Capital Partners represented the seller and procured the buyer in the transaction.

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FloridaGrocery-anchoredInvestment salesNews

IPA Brokers $12.1 Million Sale of Southwood Shops in Metro Tampa

by Hayden Spiess

Bradenton, Fla. — Marcus & Millichap’s Institutional Property Advisors (IPA) has brokered the $12.1 million sale of Southwood Shops, a 107,697-square-foot shopping center located in the Tampa suburb of Bradenton. Kirk Olson and Drew Kristol of IPA represented the seller, an entity doing business as Bradwood Shopping Center Co. Ltd., and procured the buyer, a Miami-based partnership doing business as Southwood Shops LLC. Built in 1981, Southwood Shops was fully leased at the time of sale to tenants including Winn-Dixie.

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FloridaGrocery-anchoredLeasingNews

PEBB Signs Leases Totaling 27,099 Square Feet at Delray Landing in Florida

by Hayden Spiess

Delray Beach, Fla. — PEBB Enterprises has signed new leases totaling 27,099 square feet at Delray Landing, a shopping center the company is currently redeveloping in Delray Beach. Retro Fitness will occupy 17,299 square feet at the property and Crown Wine will lease 4,100 square feet. Keke’s Breakfast Café and a dentist office will also open at the center, leasing 4,200 and 1,500 square feet, respectively. Sprouts Farmers Market anchors the property, which is also leased to Burger King and Taco Bell. PEBB acquired the shopping center in June 2021 …

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FloridaInvestment salesNet leaseNewsRestaurants

SRS Brokers $8.1 Million Portfolio Sale of Two Single-Tenant Retail Properties in Metro Tampa

by Hayden Spiess

Brandon, Fla. — SRS Real Estate Partners’ National Net Lease Group has brokered the $8.1 million portfolio sale of two single-tenant net-lease retail properties totaling 6,454 square feet in Brandon, roughly 13 miles outside Tampa. The restaurants, which are occupied by Panera Bread and Chipotle Mexican Grill, are outparcels to Lake Brandon Plaza, a 200,000-square-foot, Publix-anchored shopping center. Both properties were completed this year and have new 15-year, absolute triple-net leases in place. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based private investor, in the 1031 …

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Watson Island
DevelopmentFloridaMixed-useNews

BH3 Management, Merrimac Ventures to Develop Mixed-Use Project on Miami’s Watson Island

by Hayden Spiess

Miami —BH3 Management and Merrimac Ventures have acquired development rights for a 10.7-acre site on Watson Island, an island within Miami city limits. The land is owned by the City of Miami and fronts Biscayne Bay midway between downtown Miami and Miami Beach. Alex Zylberglait of Marcus & Millichap brokered the transaction. A site plan is already approved, combining hotel, retail and residential uses alongside new public space and a waterfront promenade. While the plan will be updated, BH3 Management and Merrimac Ventures intend to develop within the same footprint …

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