Jacksonville, Fla. — JLL Capital Markets has arranged the sale of two single-tenant properties leased to BJ’s Wholesale Club and Walgreens totaling 123,567 square feet. The buildings are located within the Atlantic-Kernan Shops shopping center in Jacksonville. Michael Brewster, Brad Peterson and Whitaker Leonhardt of JLL represented the seller, Sleiman Enterprises. The buyer and the sales price were not disclosed.
Sunrise, Fla. — Cushman & Wakefield has arranged the sale of Sunrise West Shopping Center, a 76,411-square-foot, Publix-anchored neighborhood center located in Sunrise. Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, Principal Real Estate Investors, in the transaction. Global Fund Investments acquired the property for an undisclosed price. Located at 9010-9370 W. Commercial Blvd., the property is 93 percent leased to tenants including Carvel Ice Cream, Club Pilates, Pacific Dental, Rio Body Wax and Supercuts.
Dublin, Ohio and Miami — The Wendy’s Co. and REEF have formed a new development commitment to open and operate 700 delivery kitchens over the next five years across the U.S., Canada and the United Kingdom. Through this commitment, REEF will become the first Wendy’s franchisee in the United Kingdom. Wendy’s and REEF expect to open approximately 50 delivery kitchens in 2021, with the remainder launched by 2025.
Miami — Federal Realty Investment Trust, The Comras Co. and Grass River Property have signed five new retailers to join the tenant lineup at CocoWalk, a mixed-use shopping center in the Coconut Grove neighborhood of Miami. CocoWalk’s newest retailers include GlossLab, a membership-based nail studio based in New York that is set to open in summer 2022; Antidote Wellness Labs, a boutique fitness studio; Gas Bijoux, a jewelry brand based in Saint-Tropez; Skin Lab by Barba Skin Clinic; and 3D Brow Studio, which is a salon concept specializing in eyebrows. …
Milton, Fla. — Branch Properties has broken ground on Merganser Commons at Dogwood Estates, a Publix-anchored shopping center in Milton. The grocer will occupy 46,811 square feet and be the first Publix store in the city. Overall, Merganser Commons will span 66,921 square feet and feature retail, dining and service-oriented tenants. Branch Properties’ partner on the project is Merganser Enterprises LLC, a retail developer based in Smyrna, Georgia. Branch Properties plans to deliver the center in spring 2022.
Orlando, Fla. — Newport Capital Partners has acquired West Colonial Oaks, a 160,792-square-foot, grocery-anchored shopping center situated on the southwest corner of West Colonial Drive and North Hiawassee Road in Orlando. Newport Capital acquired the property through its Newport Capital Partners Fund III. The property was sourced and acquired off-market from a private investor. Newmark arranged acquisition financing through Ameris Bank. The seller and sales price were not disclosed. West Colonial Oaks is currently 94 percent leased and its largest tenant is national discount retailer Ollie’s Bargain Outlet. The property’s …
St. Petersburg, Fla. — Tricera Capital has acquired a ground-floor retail space at Related Group’s recently completed ICON Central, a mixed-use development in St. Petersburg. The transaction totaled $11.1 million and included the adjoining Union Trust Bank building. In total, the ground-floor retail space and historic bank building span nearly 35,000 square feet of rentable space. Related Group was the seller. Currently, about 7,000 square feet of the retail space is leased to BurgerFi and Watts Dental, which are open now. Scott Wadler and Alec Fox of Berkadia secured $9.9 …
Doral, Fla. — General contractor FRONTIER Building has completed the redevelopment of two retail properties totaling 62,000 square feet in Doral. The buildings were formerly occupied by Toys “R” Us and Babies “R” Us. The project included renovations to the existing exterior façades and interior build-outs at both stores, which will now be occupied by Burlington and Total Wine & More.
Fort Myers, Fla. — Marcus & Millichap has arranged the $5.7 million sale of Shops at Jamaica Bay, a 21,080-square-foot multi-tenant retail center located in Fort Myers. Jim Shiebler, James Medefind and James Garner of Marcus & Millichap represented the seller and the buyer in the transaction, both of which were limited liability companies. Built in 2007, the center is fully occupied by tenants such as AT&T and Allstate insurance.
South Pasadena, Fla. — Branch Properties has sold South Pasadena Shopping Center, a 165,746-square-foot shopping center located six miles west of downtown St. Petersburg in South Pasadena. The Walmart Neighborhood Market-anchored center is fully leased to tenants including CVS/pharmacy, Bealls Outlet and Ace Hardware. Saugatuck Commercial Real Estate represented the buyer in the transaction. CBRE negotiated the deal on behalf of the seller, Branch Properties. The seller and terms of the transaction were undisclosed.
