Coconut Creek, Fla. — Hill Partners Inc. has signed Naked Taco, Xfinity interactive retail store, Coconut Vibe and Zervos Group to leases totaling more than 9,000 square feet within Promenade at Coconut Creek. Naked Taco will occupy 5,796 square feet of space beginning in November. The restaurant will feature Mexican food and cocktails. Xfinity will open an interactive retail store where customers can learn about the products Xfinity has to offer. The location will open in October. Coconut Vibe began as a pop-up shop that signed a longer-term lease. The …
Gainesville, Fla. — TSCG has brokered the sale of Gainesville Plaza, a 162,000-square-foot retail center situated along NW 13th Street in Gainesville. The center was 92.4 percent leased at the time of sale to tenants including Burlington, Ross Dress for Less, Sav-A-Lot, 2nd & Charles (a Books-A-Million concept), Lumber Liquidators and Hibbett Sporting Goods. The sale also includes a 1.4-acre outparcel fronting 13th Street that can accommodate 4,000- and 3,750-square-foot buildings. Gainesville Plaza was built in 1971 and renovated in 2014. Anthony Blanco of TSCG and his sales team represented …
Hialeah, Fla. — BB&T has provided a $12.8 million construction loan for the retail portion of Pura Vida, a mixed-use development in Hialeah. Coral Rock Development Group and Arena Capital Holdings are developing Pura Vida, which will feature three out parcels totaling 40,000 square feet of retail space, in addition to 11,000 square feet of ground-floor retail space within the residential component. Confirmed retail tenants include a Wawa convenience store and gas station, Taco Bell restaurant, Dollar Tree store and a two-story YouFit Health Club. The retail portion is expected …
Boca Raton, Fla. — Luxury movie theater company IPIC Entertainment (Nasdaq: IPIC) has filed for Chapter 11 bankruptcy in the United States Bankruptcy Court District of Delaware where it will seek approval of either a sale or financial reorganization plan. In July, the company missed a $10 million interest payment to Retirement System of Alabama (RSA) and notified investors that it might have to file for bankruptcy. IPIC borrowed $204 million from RSA, according to media reports. Hamid Hashemi, founder and CEO of IPIC, says that the company’s movie theaters …
Orange Park, Fla. — Katz Properties Retail has acquired Bolton Plaza, a 174,063-square-foot shopping center in Orange Park. Bolton Plaza was built in 1988 and was redeveloped and expanded between 2015 and 2017. The center was 99 percent leased at the time of the sale to tenants including Aldi, Marshalls, LA Fitness and Academy Sports + Outdoors. Bolton Plaza is situated at 661 Blanding Blvd., 20 miles south of downtown Jacksonville. The seller and sales price were not disclosed.
Pembroke Pines, Fla. — The Aztec Group has arranged an $18.5 million refinancing loan of an existing construction for Pembroke Centre in Pembroke Pines. Continental Casualty Co. provided the five-year, non-recourse, fixed-rate loan. The borrower, Hart Lyman Cos., delivered Pembroke Centre, a 37,900-square-foot shopping center, in 2017. Tenants include anchor Twin Peaks, Comcast, TooJay’s, AT&T, Firebirds, Pieology and Habit Burger. Howard Taft, Charles Penan and Joel Zusman of Atzec Group represented the borrower in the loan transaction.
Sarasota, Fla. — JLL has arranged the sale of four retail properties in downtown Sarasota totaling 30,188 square feet. The four properties, which are situated on Main Street and Lemon Avenue, sold for $10.3 million. The properties were 89 percent leased at the time of sale to tenants including Sur La Table, Bluemercury, Eileen Fisher, Hyde Park Prime Steakhouse, Boca Kitchen, J. McLaughlin and Sara Campbell. Eric Williams, Daniel Finkle and Luis Castillo of JLL represented the seller, Lemon Avenue Partners LLC, in the transaction. The buyer was not disclosed.
Trinity, Fla. — A partnership between two developers, Alabama-based Blackwater Real Estate and Tennessee-based Hutton, has completed The Village at Mitchell Ranch, a 161,000-square-foot shopping center near Tampa. A 30,0000-square-foot Sprouts Farmers Market anchors the property, which is located at the intersection of State Route 54 and Little Road in Trinity. Other anchors include HomeGoods, Michaels, Five Below, Skechers and Ulta Beauty. Restaurant users include Burger King, Chipotle Mexican Grill and Panda Express, with more to be announced in the coming months.
Viera, Fla. — SRS Real Estate Partners has negotiated the $11.8 million sale of Viera Colonnade Shops, a 27,051-square-foot retail center comprising three buildings, in Viera. The asset is situated at 2328, 2338 and 2348 Citadel Way, 35 miles east of downtown Orlando. The property was delivered in 2017 and 2018. Viera Colonnade is fully leased to 14 tenants, including UPS, Jersey Mike’s, Great Clips, Mattress One and Blaze Pizza. Additionally, all 14 tenants recently signed brand new 10-year triple-net leases with extension options. Patrick Luther and Matthew Mousavi of …
Orlando, Fla. — Tavistock Development Co. has signed three leases with fitness studios to occupy space within Pixon, a 200-unit apartment complex with 32,500 square feet of retail space in Lake Nona Town Center. Neighborhood barre, Club Pilates and Rukus Cycling Studios are expected to open by the end of this year. Neighborhood barre will span 1,300 square feet. It will be the first location in Florida and fifth in the nation. Rukus Cycling Studio will occupy 2,600 square feet and include 44 stationary bikes. Club Pilates will be in …