Delray Beach, Fla. — Kite Realty Group Trust has announced planned updates for Delray Marketplace, a 260,000-square-foot open-air lifestyle center in Delray Beach. Paragon Theaters is set to occupy the center’s existing theater space, which will undergo renovations including the addition of luxury electric reclining seats, full-service in-theater dining and VIP box seating areas. An ‘Extreme Theater’ will also be added at the property, featuring a tilt screen and 4K-laser projection. The adjacent Penny Lanes Bowl & Games and Agency Kitchen & Bar will remain open during renovations, which are …
Yulee, Fla. — Sleiman Enterprises has broken ground on Crossings at Wildlight, a Publix-anchored shopping center located roughly 25 miles outside Jacksonville in Yulee. The retail center will offer the first grocery store in the community. Designed by Cuhaci & Peterson, the 90,000-square-foot project will include five single- or multi-tenant buildings and up to three outparcels. Sleiman is planning a grand opening for spring 2022. The shopping center will serve as a retail component within Wildlight, a master-planned development in Nassau County by Raydient Places + Properties.
Ocala, Fla. — CBRE has arranged the sale of Heather Island Plaza, a 70,970-square-foot, Publix-anchored shopping center in Ocala. Built in 2000, the property is located at 7878 SE Maricamp Road and was 85 percent leased at the time of sale. CBRE represented the seller, a joint venture between Madison International Realty and SITE Centers Corp., in the transaction. The buyer, New Bandera Ventures, acquired the center for an undisclosed price.
New Port Richey, Fla. — Plaza Advisors has arranged the sale of the Shoppes at Golden Acres, a 130,707-square-foot retail plaza located on Little Road and Fox Hollow Road in New Port Richey. Tenants at the center include Publix, Rent-A-Center, Edward Jones and Amscot. Jim Michalak and Keith Nurre of Plaza Advisors represented the seller, a joint venture between SITE Centers Corp. and Madison International Realty. The buyer and terms of the transaction were undisclosed.
West Palm Beach, Fla. — CBRE has arranged the sale of a 45,000-square-foot store at 1880 Palm Beach Lakes Boulevard in West Palm Beach. Best Buy has operated at this location for 25 years. Will Pike, Chris Bosworth and Brian Pfohl of CBRE’s Atlanta office, along with Dennis Carson and Casey Rosen of CBRE’s National Retail Partners Florida Team, represented the seller, which was advised by Orion Investments. The buyer was RK Centers, an owner of retail properties in both South Florida and Massachusetts.
Limestone Asset Management Acquires Two Outparcels Near Orlando’s Mall at Millenia for $10.4 Million
Orlando, Fla. — Miami-based Limestone Asset Management has acquired two outparcel buildings totaling 14,075 square feet near Orlando’s Mall at Millenia for $10.4 million. Acquisitions include a 5,530-square-foot AT&T store located at 4006 Conroy Road; and a two-tenant outparcel featuring a 5,045-square-foot Panera Bread and a 3,500-square-foot Shake Shack at 4060 Conroy Road. The Mall at Millenia comprises more than 1.1 million square feet and includes anchors such as Macy’s, Neiman Marcus and Bloomingdale’s. The property is located at 4200 Conroy Road, six miles southwest of downtown Orlando. Kevin Sanz …
Plantation and Hialeah, Fla. — Azor Advisory Services has arranged two anchor-tenant leases at shopping centers located outside Miami in Plantation and Hialeah. Fitness System will open in a 21,429-square-foot space formerly occupied by Michaels at Plantation Crossing shopping center on July 1. Helene Unschuld of Century 21 Tenace Realty represented the tenant in the transaction. Azor also represented the owner of a Hialeah shopping center in leasing a 22,000-square-foot outparcel to dd’s Discounts. Craig Fetherston and Jim Petrarca of the Shopping Center Group represented the tenant in the transaction. …
Delray Beach, Fla. — Menin is set to open Delray Beach Market, a 150,000-square-foot food hall and retail center located in Delray Beach. The property will feature over 25 local and regional eateries, a rotating roster of pop-up vendors, bars, outdoor seating and a show kitchen. Delray Beach Market will also offer dining and creative food incubators, a beverage program, food trucks, art exhibitions and programming including live music shows, culinary classes and curated events. Restaurants on the ground floor will include Sorella’s, an artisanal pasta house by chef Jimmy …
St. Petersburg, Fla. — InvenTrust Properties Corp. will redevelop Gateway Market Center, a 231,058-square-foot shopping center in the Tampa Bay area anchored by Target and Publix. The property is located at 7751-8229 9th St. N in St. Petersburg. Construction is scheduled to begin in the first quarter of 2022 with the renovation taking approximately 18 months to complete. InvenTrust’s improvements to Gateway Market Center will include the demolition of approximately 60,000 square feet of existing building area and the construction of several new buildings. Two new anchor-sized buildings will be …
St. Petersburg, Fla. — Limestone Asset Management, via a joint venture with its parent company Orion Real Estate Group, has sold a 23,031-square-foot retail and office center in the Tampa Bay area for $5.3 million. Located at 1914 4th St. N in St. Petersburg, the property was 100 percent leased at the time of sale to six tenants, including Outback Steakhouse and Panera Bread. Ben Mallah of Equity Management Partners Inc. purchased the property in a 1031 exchange. Mark Shellabarger and Ari Ravi of CBRE represented Limestone and Orion, both …