Florida

Parkway, KKR Complete $10 Million Renovation of Brickell Miami Office Tower, Sign Three Retail Tenants

by Alex Tostado July 27, 2020

Miami — Parkway Real Estate Services LLC and joint venture partner KKR have completed their $10 million renovation of Sabadell Financial Center, a 30-story, 524,000-square-foot office tower in Miami’s Brickell district. The waterfront property overlooks Biscayne Bay. Parkway Real Estate and KKR acquired the property for $250 million in 2018 and immediately commenced renovation plans. Upgrades included redesigning the entrance and renovating the lobby, as well as adding enhanced cellphone signal technology, meeting and entertainment spaces and a rooftop deck with space for fitness classes. The landlords also signed three retail …

July 27, 2020

Features Florida Retailers

First Inning: South Florida Retail Market Resets as COVID-19 Throws a Curveball, Says SCB Webinar

by Alex Tostado July 23, 2020

The outbreak of COVID-19 has had an outsized impact on South Florida. According to John Hopkins University & Medicine, the region’s three primary counties rank in the top 20 of confirmed COVID-19 cases as of Wednesday, July 22. At 92,345 cases, Miami-Dade County is No. 4 on the list. Broward County comes in at No. 9 with 43,747 cases, and Palm Beach County is No. 20 with 27,506 cases. The surge in cases has had a pronounced effect on the area’s retailers as citizens have resumed their caution in public …

July 23, 2020

Florida News Restaurants Retailers

Skanska USA Completes $92 Million Renovation of St. Petersburg Pier, Adds New Shops and Restaurants

by Alex Tostado July 20, 2020

St. Petersburg, Fla. — Skanska USA has completed a $92 million renovation of the historic St. Petersburg Pier on behalf of the City of St. Petersburg. The 26-acre area now includes 44,000 square feet of retail and restaurant space, including the St. Pete Museum of History and Tampa Bay Watch Discovery Center. Other tenants include The Driftwood Café; Doc Ford’s Rum Bar & Grille; Spa Beach Bistro; Teak, a waterfront restaurant; and Pier Teaki, a rooftop bar. The five-story Pierhead building includes shops and a fishing platform. The pier area …

July 20, 2020

Development Florida Grocery-anchored News Retailers

Pebb Enterprises to Build Publix-Anchored Shopping Center in Metro Jacksonville

by Alex Tostado July 20, 2020

St. Johns, Fla. — Pebb Enterprises has unveiled its plans for a new 58,900-square-foot, Publix-anchored shopping center in St. Johns. Publix will occupy 48,400 square feet at the center, which will feature 10,500 square feet of in-line retail space. Publix Liquor Store and Lavender Spa have also signed leases at the space. Pebb Enterprises closed on the $2.8 million land sale July 10 and has begun site work. The Boca Raton, Fla.-based developer expects to deliver the property in summer 2021. The site is located at 855 County Road 210 …

July 20, 2020

Development Florida News Retailers

Sleiman Enterprises to Renovate Three Historic Retail Buildings in Jacksonville

by Alex Tostado July 15, 2020

Jacksonville, Fla. — Sleiman Enterprises will renovate three historic retail buildings in Jacksonville’s San Marco Square. The buildings were built in 1926 and 1927, and are located at 1974, 1980 and 1972 San Marco Blvd., two miles south of downtown Jacksonville. Marsh & Saxelbye originally developed the property, which locally based Sleiman Enterprises acquired in August 2019. The two-story, 8,200-square-foot building situated at 1974 San Marco Blvd. is currently vacant. A Starbucks Coffee occupies the space at 1980 San Marco, and a Beau Outfitters leases the building at 1972 San …

July 15, 2020

Development Florida Grocery-anchored News Retailers

Ferber Breaks Ground on Durbin Creek Crossing in Jacksonville

by Alex Tostado July 6, 2020

Jacksonville, Fla. — The Ferber Cos. has broken ground on Durbin Creek Crossing, a 250,000-square-foot retail property spanning 70 acres in Jacksonville. The property will comprise 10 outparcels ranging from 0.8 to 2.6 acres. Aldi will occupy 19,000 square feet. Other announced tenants include Burger King, ABC Fine Wine & Spirits, First Florida Credit Union and Tire Kingdom. The property is situated at the corner of St. Johns Parkway and Racetrack Road, 21 miles south of downtown Jacksonville. Vallencourt Construction Co. is the general contractor and plans to complete site …

July 6, 2020

Development Florida Grocery-anchored News Retailers

Publix Opens 25,147-Square-Foot GreenWise Organic Grocery Store Near Tampa

by Alex Tostado June 22, 2020

Odessa, Fla. — Publix Super Markets Inc. has opened a 25,147-square-foot GreenWise Market in Odessa, its fourth Florida location for the grocer. The organic grocery store is situated within Preserve Marketplace, a shopping center located along State Road 54 about 25 miles north of Tampa. The Sembler Co. is the owner of the newly built, 56,331-square-foot shopping center. The new GreenWise includes five “experience zones” labeled Cares (vitamins and soaps), Cuts (meats), Eats (prepared meals including sandwiches and pizza), Finds (wine and cheese) and Pours (a bar serving wine, coffee …

June 22, 2020

Florida Investment sales Net lease News Retailers

SRS Brokers $4.7 Million Sale of New Retail Property Leased to 7-Eleven in Southwest Florida

by Alex Tostado June 22, 2020

Fort Myers, Fla. — SRS National Net Lease Group has arranged the $4.7 million sale of a retail property leased to 7-Eleven in Fort Myers. The property comprises a 2,961-square-foot convenience store and a gas station. A 15-year lease is in place with 7-Eleven Inc. for the property, which was completed in late 2019. The asset is situated at 6715 Winkler Road, seven miles south of downtown Fort Myers. Parker Walter of SRS represented the buyer, a California-based private investor that was in a 1031 exchange, in the transaction. The …

June 22, 2020

Florida Investment sales News Retailers

Current Capital Acquires Retail Property in South Florida for $12.6 Million

by Alex Tostado June 16, 2020

Lauderhill, Fla. — Promenade Plaza LLC, an affiliate of Current Capital Real Estate Group, has acquired Promenade at Inverrary, a 143,460-square-foot retail property in Lauderhill, for $12.6 million. The asset is located at 4402-4678 N. University Drive, 11 miles west of downtown Fort Lauderdale. Todd Nepola, president of Current Capital, says the company will implement remodeling plans at Promenade over the next 12 months. Current Capital will also handle management and leasing efforts at the shopping center, which was built in 1986. The seller was not disclosed. CenterState Bank provided …

June 16, 2020

Florida Leasing News Restaurants Retailers

Swire Properties to Welcome Five Retailers to Brickell City Centre in Miami

by Alex Tostado June 16, 2020

Miami — Hong Kong-based Swire Properties, along with co-developers Whitman Family Development and Simon Property Group, has announced that five retailers are joining the tenant lineup at Brickell City Centre in Miami. Marabu, which recently opened its doors, is a Cuban-inspired restaurant headed by Cuban-American chef Alberto Cabrera. Opening in July are Indochino, a digitally native menswear suit retailer, and Est.33 Craft Brewery & Kitchen. Los Chinos, a Latino-Chinese fusion restaurant, will open later this summer. The restaurant will feature an after-hours speakeasy and outdoor patio space. Lastly, Lucid Motors, …

June 16, 2020

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