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FCPT Purchases 20 Bloomin’ Brands Restaurant Properties for $66.4 Million 

by Hayden Spiess

Mill Valley, Calif. — Four Corners Property Trust (FCPT) has purchased 20 restaurant properties occupied by Bloomin’ Brands concepts for $66.4 million dollars. Located in Arizona, Florida, Georgia, Kentucky, Louisiana, North Carolina, Nevada, Pennsylvania, South Carolina and Tennessee, the portfolio includes 10 Outback Steakhouse restaurants and 10 Carrabba’s Italian Grill restaurants, with one dual-tenant property occupied by both concepts. The properties are leased to corporate Bloomin’ Brands entities on two master leases. This transaction makes Bloomin’ Brands the third largest tenant for FCPT, accounting for 3.3 percent of cash rent for …

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FloridaInvestment salesNet leaseNewsRestaurants

Baum Family Investments Purchases Three KFC Properties in Jacksonville, Florida

by Hayden Spiess

Jacksonville, Fla. — Baum Family Investments has purchased three single-tenant properties located in Jacksonville. Kentucky Fried Chicken (KFC) occupies each of the properties on a triple-net-lease basis. An undisclosed seller sold the buildings for roughly $5 million. Baum Family Investments has acquired four other properties in the state this year, with plans to purchase an additional six properties before the end of 2024. 

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FloridaInvestment salesNewsNorth Carolina

CTO Realty Growth Acquires Shopping Center Portfolio in Florida, North Carolina for $137.5 Million

by Hayden Spiess

Winter Park, Fla. — CTO Realty Growth Inc. has acquired a portfolio of three shopping centers located in Florida and North Carolina. The properties, which together total 893,000 square feet, include Carolina Pavilion in Charlotte, North Carolina; Millenia Crossing in Orlando, Florida; and Lake Brandon Village in Brandon, Florida. CTO purchased the portfolio from an undisclosed seller for $137.5 million. Carolina Pavilion, which was 93 percent leased at the time of sale, comprises roughly 691,000 square feet.  Tenants at the center include AMC Theatres, Floor & Décor, Nordstrom Rack, Ross Dress for …

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FloridaGrocery-anchoredInvestment salesNews

Colliers Brokers $33.1 Million Sale of Palm Aire Marketplace in Pompano Beach, Florida

by Hayden Spiess

Pompano Beach, Fla. — Colliers has brokered the $33.1 million sale of Palm Aire Marketplace, a shopping center located in Pompano Beach. Presidente Supermarket and dd’s DISCOUNTS anchor the property, which totals 143,219 square feet. Other tenants at Palm Aire Marketplace include T-Mobile, Chase Bank and McDonald’s. Harry Blyden, Bastian Schauer, Ruben Suarez, Billy Weiser and Ariel Davis of Colliers represented the seller, Pompano Realty USA, in the transaction. Longpoint Realty Partners acquired the asset, which is situated across from The Pomp, a $2 billion mixed-use project currently underway at the …

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Company newsFloridaNewsRestaurants

Smalls Sliders Signs Four-Unit Franchise Deal in Florida

by Hayden Spiess

Atlanta — Atlanta-based fast-casual concept Smalls Sliders has signed a franchise agreement to open four new units in Florida. DPC Smalls Investments will own and operate the restaurants, which will be located in the Destin and Panama City Beach areas. The first of the units, which are dubbed “Cans,” is scheduled to open in 2025. In April, the brand announced a 12-restaurant franchise agreement for Tallahassee and Jacksonville.

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DevelopmentFloridaMixed-useNews

Gateway Jax Receives Approval for $2 Billion Mixed-Use Project in Downtown Jacksonville

by Hayden Spiess

Jacksonville, Fla. — Gateway Jax has received approval from the Jacksonville City Council for the development of Pearl Street District, a $2 billion mixed-use project set to span 25 blocks in downtown Jacksonville.  Plans for the development include 1,000 residential units; more than 100,000 square feet of retail space; public gathering spaces, including parks surrounding the historic Porter House mansion; widened and shaded sidewalks; and a curbless “festival street” with outdoor dining. Gateway Jax bought the site last year. Anticipated tenants for the retail portion of the project include a full-service …

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FloridaInvestment salesNews

Colliers Brokers $68.5 Million Sale of Shopping Center in Orlando

by Hayden Spiess

Orlando, Fla. — Colliers has brokered the $68.5 million sale of Lee Vista Promenade, a shopping center located in Orlando. Brad Peterson, Whitaker Leonhardt and Eric AmRhein of Colliers represented the seller, SITE Centers, in the transaction. Built in 2016, the property totals 313,981 square feet. Tenants at the center, which was 95.5 percent occupied at the time of sale, include Academy Sports, Epic Theaters, Ross Dress for Less, HomeGoods, Michaels, Bealls Outlet, Petco, Ulta Beauty, Five Below and Famous Footwear. Donald Jennewein of Colliers arranged financing through City National Bank …

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DevelopmentFloridaGrocery-anchoredNews

Sembler, Forge Underway on Redevelopment of Publix-Anchored Retail Center in Fort Myers, Florida

by Hayden Spiess

Fort Myers, Fla. — The Sembler Co. and Forge Capital Partners are underway on the redevelopment of Daniels Crossing, a Publix-anchored retail center located in Fort Myers. Scheduled for completion in summer 2025, the project includes the demolition of the existing 48,890-square-foot Publix and 4,700 square feet of inline space. Once complete, the redevelopment will feature a new, 48,387-square-foot Publix and adjacent 3,010-square-foot Publix Liquors. Other tenants at the property include Duck Donuts, Millenium Physician Group, Potts Sport Café, Quest Diagnostics, School of Rock, Subway, Sugaring NYC and The UPS Store. 

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Company newsFloridaNewsRestaurants

Buca di Beppo Files for Chapter 11 Bankruptcy

by Hayden Spiess

Orlando, Fla. — Orlando-based Italian dining chain Buca di Beppo has voluntarily filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. The restructuring will involve 44 core restaurants, as well as a new store currently being opened. According to a press release issued by the company, it is “committed to ensuring that the restaurants operate as usual.” Gray Reed & McGraw LLP is serving as legal advisor, and CR3 Partners LLC is acting as financial advisor, as well as providing corporate leadership as the chief restructuring officer. Stout Capital …

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FloridaGrocery-anchoredInvestment salesNews

Joint Venture Acquires Two Retail Centers Totaling 287,407 Square Feet in Florida

by Hayden Spiess

Brandon and Tamarac, Fla. — A joint venture between ShopOne Centers REIT, Pantheon and a global institutional investor has acquired two retail centers — Midway Plaza and Lithia Square — totaling 287,407 square feet in Florida. Located in Tamarac, Midway Plaza comprises 218,400 square feet. Publix anchors the property, which was 84 percent occupied at the time of sale. Walmart anchors Lithia Square, which spans 69,007 square feet in Brandon. The property was 79 percent occupied at the time of sale. This brings the joint venture’s portfolio to 1.8 million square …

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