Jacksonville, Fla. — Jacksonville, Florida-based Regency Centers Corp. has obtained five shopping centers within the 23,000-acre master-planned community of Ranch Mission Viejo in Orange County, California, for $357 million. The properties, which comprise 630,000 square feet, include Bridgepark Plaza, Mercantile West, Mercantile East, Terrace Shops and Sendero Marketplace. The portfolio is 97 percent leased to a mix of needs-based tenants such as grocers, restaurants, and health, wellness and personal service uses. The seller was Newport Beach, California-based Westar Associates. Regency funded the acquisition with a combination of operating partnership (OP) …
Palm Beach Gardens, Fla. — Palm Beach Gardens, Florida-based Ram Realty Advisors has purchased a 600,000-square-foot retail portfolio of seven grocery-anchored shopping centers across the Southeast for $200 million. The portfolio includes Mainstreet at Midtown in Palm Beach Gardens, Florida; Homestead Market and Bull City Market in Durham, North Carolina; Holly Springs Crossing in Holly Springs, North Carolina; Mainstreet Village in Hilton Head Island, South Carolina; The Market at Mills Park in Orlando, Florida; and Blys in Oakland Park, Florida. The portfolio, which was 98.7 percent occupied at the time of …
Miami — Miami-based MMG Equity Partners has secured $38 million in refinancing for a four-property retail strip center portfolio located across Miami-Dade County in South Florida. The portfolio totals roughly 128,000 square feet and includes Pinecrest Center, Pinecrest Shoppes, Westlake Plaza and Naranja Plaza, which are all situated along South Dixie Highway or Bird Road. MMG originally purchased the properties between 2018 and 2020 for a combined $28.9 million. Notable tenants within the retail portfolio include Key Foods Supermarket, Sergios Restaurant, Veterinary Emergency Group (VEG), Dollar General, O’Reilly Autoparts, Mister …
West Palm Beach, Fla. and Buford, Ga. — Northbrook, Illinois-based Pine Tree has been selected to provide management services for two shopping centers owned by Invesco, which total 700,000 square feet. The properties include the Palm Beach Promenade in West Palm Beach, Florida, and Georgia Crossing in Buford, Georgia. Pine Tree’s Southeast management portfolio now totals 3.8 million square feet. The 300,000-square-foot Palm Beach Promenade is anchored by Whole Foods Market and features a mix of more than 100 tenants including Ross Dress For Less, TJ Maxx, Marshalls, HomeGoods and …
Miami Beach, Fla. — The Lincoln Road Business Improvement District (BID) has announced a new wave of retailers and restaurants opening on Lincoln Road, the retail high street of Miami Beach. The new concepts include All’Antico Vinaio, an Italian sandwich concept that will occupy 1,793 square feet at 647 Lincoln Road; Che by Chelsey, an apparel concept that opened its 675-square-foot boutique at 830 Lincoln Road in May; and Davinci Gelato, which opened its 1,350-square-foot gelato shop at 645 Lincoln Road in May. Other newcomers will include Prince Street Pizza …
Chiefland, Fla. — Locally based Coldwell Banker Commercial M.M. Parrish Realtors has arranged the sale of Chiefland Regional Shopping Center, a 140,664-square-foot regional shopping center located in Chiefland, approximately 30 miles southwest of Gainesville. Bealls anchors the center, which was 95.6 percent occupied at the time of sale. Other tenants include Rent-A-Center, Tractor Supply, Subway, Metro by T-Mobile and a Winn-Dixie grocery store, which will be converted into an ALDI. This transaction marks the first time the property has been sold since its original development in 1989. Jim Michalak and Jeff …
Greenacres, Fla. — Atlantic Commercial Group has negotiated the $8.4 million sale of Buttonwood Plaza, a 60,000-square-foot retail center located in Greenacres, approximately 12 miles outside West Palm Beach. Built in 1986, the center is situated on 5 acres at the southeast corner of Jog Road and 10th Ave. North. Tenants at the property — which was 97 percent leased at the time of sale — include CiCi’s Pizza, a barber shop and a Chinese restaurant. Gary Broidis of Atlantic Commercial represented the seller in the transaction. The buyer was an …
Deltona, Fla. — SRS Real Estate Partners has negotiated the $4.5 million ground lease sale of a single-tenant retail property located at 1569 Saxon Blvd. in Deltona. The property is situated 30 miles north of Orlando within the mixed-use development of Deltona Village, which is currently under construction. Walmart occupies the 41,335-square-foot building on an absolute triple-net-lease with 10 years remaining. Patrick Nutt and William Wamble represented the seller, a private partnership, in the transaction. SRS also represented the buyer, a Pennsylvania-based private entity.
Delray Beach, Fla. — O’Connor Capital Partners has purchased Delray Corner, an 86,000-square-foot retail center located in Delray Beach, roughly eight miles north of Boca Raton, for $28.8 million. Situated on 9 acres, Michaels and CVS Pharmacy anchor the center, which was 96 percent leased at the time of sale. Other tenants include Hacienda Mexican Restaurant, Enterprise Rent-A-Car, Power Financial Credit Union and Taso’s Greek Taverna & Bar. Originally constructed in 1981, the property underwent significant repositioning in 2023 for the addition of the Michaels store and a Conviva Care center, …
Pembroke Pines, Fla. — Perkins Realty Management has acquired Sheridan Village Center, a 64,311-square-foot mixed-use retail and self-storage property located in Pembroke Pines, for $15.5 million. The property comprises 29,331 square feet of ground floor retail space, as well as a 419-unit self-storage facility that totals 35,000 square feet. The retail portion of the center was 93 percent leased to tenants including Memorial Healthcare System, Dunkin’ Donuts and Momo Relaxation at the time of sale. The self-storage component spans two upper floors above the Eastern retail strip and features climate-controlled …