Acquisitions

HOMESTEAD, FLA. — SRS Real Estate Partners’ National Net Lease Group has brokered the $23.8 million sale of three ground-leased, single-tenant retail properties located in Homestead. The properties are under construction and have been preleased by Target, Raising Cane’s and Murphy Oil. Target will open in late 2022, Raising Cane’s will open this month and Murphy Oil will open in the fall. Patrick Nutt and William Wamble of SRS represented the seller, an entity doing business as Homestead Pavilion LLC, in the transaction. The buyer was an entity doing business as Wells Acquisition LLC. The buildings, which will span 78,436 square feet on 8.6 acres, will serve as outparcels to Homestead Pavilion, a 450,000-square-foot shopping center leased to Kohl’s, Ross Dress for Less, Bed Bath and Beyond and T.J. Maxx.

LAKELAND, FLA. — Avanti Way Realty has arranged the $7.1 million sale of Shoppes at Lakeland Square Mall, a 44,375-square-foot retail center located at 4000 U.S. Highway 98 in Lakeland. Carrera Family Investments purchased the property in a 1031 exchange from an entity doing business as Lakeland Retail. Maria Gueits of Avanti Way Realty represented the buyer, and Anthony Bernabe and Jordan Characo of Equity Commercial Real Estate Solutions represented the seller in the transaction. Shoppes at Lakeland Square Mall was fully leased at the time of sale to tenants such as Ollies Bargain Outlet, All About Puppies, My Salon Suite, Regal Nails Salon & Spa and VidaCann, among others. The two-building property is situated on 4.5 acres adjacent to Lakeland Square Mall, an enclosed shopping mall anchored by Burlington, Dillard’s, JC Penney and Re-Sale America.