St. Johns, Fla. — The Ferber Co. will develop Durbin Creek Crossing, a 70-acre shopping center in the south Jacksonville suburb of St. Johns. Ferber is scheduled to break ground this summer and expects to deliver the asset by fall 2021. The property will offer 250,000 square feet of retail space across 10 outparcels sized between 0.8 and 2.6 acres. Ferber has signed Aldi to a 19,000-square-foot lease. Other tenants coming to Durbin Creek Crossing include ABC Fine Wine & Spirits, First Florida Credit Union and Tire Kingdom. Nancy Sumner …
Miami — Time Century Holdings LLC has broken ground on its redevelopment of Metro Mall in Miami’s Jewelry District. The $35 million project includes gutting the interior of the 225,000-square-foot building, adding a three-story atrium, security system, valet parking and creating a new façade. Miami-based Kobi Karp is the architect for the 94-year-old building, which Time Century purchased in 2018. Time Century is handling the leasing efforts and has already signed some leases with jewelers, according to Yair Levy of Time Century Holdings. The developer expects to reopen Metro Mall …
North Fort Myers, Fla. — SRS Investment Property Group has brokered the $8.3 million sale of Publix at Eagle Landing, a 57,840-square-foot, Publix-anchored shopping center in North Fort Myers. The center was built in 2012 and was 88 percent leased at the time of sale to tenants including Shoreline Vapor, China King, Boutique Nails & Spa and The Fat Apple. The property is situated at 6694-6704 Bayshore Road, seven miles north of downtown Fort Myers. Steve Miskew, Kyle Stonis and Pierce Mayson of SRS represented the seller, VAL Eagle Landing …
Miami — Ready Capital has provided a $7.1 million refinancing loan for a 30,000-square-foot retail center in Miami’s Little River submarket. The undisclosed borrower will continue making cosmetic upgrades to the property. The non-recourse, fixed-rate loan features a seven-year term with declining prepayment protection. The loan includes a facility to provide future funding for capital expenditures, tenant leasing costs and interest shortfalls. Further details of the property were not disclosed.
Miami — Aztec Group has arranged a $17.4 million refinancing loan for Sunset Strip, an 86,029-square-foot retail center in Miami. Presidente Supermarket and Dollar Tree anchor the property, which includes other tenants such as Atlantis Academy, Metro PCS, Inkaholik and Atlakat Restaurant & Grill. The property is situated at 10855 S.W. 72nd St., 12 miles west of downtown Miami. Starwood Mortgage Capital provided the loan to an affiliate of Miami-based CF Properties. The nonrecourse, interest-only loan has a 10-year term with a fixed 3.57 percent interest rate.
Royal Palm Beach, Fla. — JLL has arranged the $39.5 million sale of Coral Sky Plaza, a 232,727-square-foot retail center in Royal Palm Beach. BJ’s Wholesale Club anchors the property, which was 96 percent leased at the time of sale to tenants including Ross Dress for Less, buybuy Baby, Bed Bath & Beyond, Five Below, IHOP and Famous Footwear. The property is located at 510-590 State Road 7, 11 miles west of downtown West Palm Beach. The seller was not disclosed, although multiple media outlets report Claion Partners sold the …
Miami — MMG Equity Partners has acquired two retail centers in metro Miami for a total of $12.7 million: Naranja Plaza and Lakeside Plaza. Naranja Plaza was purchased for $7.1 million, or $139 per square foot, in an-off market deal. The shopping center spans 51,246 square feet and is situated at 27000-27100 S. Dixie Highway in Homestead, 29 miles southwest of downtown Miami. The Dollar General-anchored asset was built in 1980 and was fully leased at the time of sale. MMG Equity Partners also acquired Westlake Plaza for $5.6 million, …
Daytona Beach, Fla. — SRS Real Estate Partners has negotiated the $10.9 million sale of Speedway Village, a three-building, 28,075-square-foot retail center located directly across the street from Daytona International Speedway. The center was fully occupied at the time of sale to tenants including Verizon Wireless, Jimmy John’s, FedEx Office, Vitamin Shoppe, Eyeglass World and Smashburger. The seller, Evans Speedway LLC, developed the property in 2008. The buyers, Ty and Tovah Lohman, represented themselves. Kevin Yaryan, Patrick Luther and Matthew Mousavi of SRS represented the seller in the transaction.
Jacksonville, Fla. — Franklin Street has brokered the $8.3 million sale of Regency Point, a 51,381-square-foot retail center located at 9430 Arlington Expressway on the east side of Jacksonville. Franklin Street’s Bryan Belk and John Tennant represented the seller, Phoenix-based Sand Capital, in the transaction. The buyer, which plans to hold the property long-term, is a Jacksonville-based private investor. Built in 1981, the Regency Point shopping center includes tenants such as Skechers, Foot Locker, Champs Sports, Wingstop and T-Mobile. Recent capital improvements to the shopping center include the façade, parking …
Miami — UrbanX Group has inked new lease agreements with fast casual restaurant Chick-fil-A and clothing retailer Old Navy to occupy a total of 19,000 square feet along the Miami River. The tenants will join River Landing Shops & Residences, the 8.1-acre mixed-use development currently under construction. Chick-fil-A and Old Navy are both scheduled to open in spring 2020 and join already signed tenants Publix, Burlington, T.J. Maxx, Ross Dress for Less, GNC, Chase Bank, AT&T and Hobby Lobby. The $425 million River Landing in the Mid River district, west …