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DevelopmentFloridaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Tavistock Signs Five New Tenants at Lake Nona West Shopping Center in Orlando

by John Nelson

ORLANDO, FLA. — Tavistock Development Co. has signed five new tenants to join Lake Nona West, a 405,000-square-foot lifestyle shopping center located within Orlando’s master-planned community of Lake Nona. The tenants include Cañonita Mexican Restaurant, Nordstrom Rack, Barnes & Noble, discount retailer HomeSense and Total Wine & More. The new round of lease signings bring the total preleased space at the property to more than 300,000 square feet, which includes a 150,000-square-foot Target anchor store. Situated on 54 acres, Lake Nona West will include wide, shaded walkways, art-lined plazas and community greenspaces. In collaboration with Mercedes-Benz High-Power charging, the center will also offer 20 Level 3 electric vehicle chargers. Tavistock, master developer of Lake Nona, expects to open Lake Nona West in spring 2026.

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AcquisitionsFloridaRetailSoutheast

Marcus & Millichap Arranges $4.5M Sale of Retail Property in Ocala, Florida Leased to Firestone

by John Nelson

OCALA, FLA. — Marcus & Millichap’s Taylor-McMinn Retail Group in Atlanta has arranged the $4.5 million sale of a single-tenant retail property located at 30 Bahia Ave. in Ocala, about 72 miles north of Orlando and 48 miles south of Gainesville, Fla. Built in 2024, the 6,723-square-foot building was occupied by automotive services provider Firestone on a 15-year triple-net lease at the time of sale. Firestone is a subsidiary of Bridgestone Retail Operations LLC with more than 1,700 tire and car care locations nationwide. Don McMinn of Taylor-McMinn Retail Group represented the seller, an undisclosed, Georgia-based development firm, in the transaction. The buyer was not disclosed. Ryan Nee served as Marcus & Millichap’s broker of record in Florida for the deal. “New construction Firestone properties continue to achieve aggressive pricing, fueled by strong credit, limited inventory and growing demand from an expanding pool of 1031 exchange buyers,” says McMinn.

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Leasing ActivityNew YorkNortheastRetail

My Gym to Open 3,000 SF Children’s Fitness Facility in Commack, New York

by Taylor Williams

COMMACK, N.Y. — My Gym, a global children’s fitness concept, will open a 3,000-square-foot facility in the Long Island community of Commack. The facility will be located next to Planet Fitness within the 222,000-square-foot Mayfair Shopping Center. E.J. Moawad of Levin Management Corp. represented the landlord in the lease negotiations. Juliana Chiarelli and Jason Sobel of RIPCO Real Estate represented My Gym.

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Grand-Covina-Plaza-Covina-CA
AcquisitionsCaliforniaRetailWestern

Longpoint Acquires 111,975 SF Grand Covina Plaza Retail Center in California’s San Gabriel Valley

by Amy Works

COVINA, CALIF. — Longpoint has purchased Grand Covina Plaza, a grocery-anchored shopping center in Covina, from a private family partnership for $24.9 million. Located at 1001-1075 N. Grand Ave., Grand Covina Plaza offers 111,975 square feet of retail space. Stater Bros Market, Dollar Tree, KFC, 7-Eleven and O’Reilly Auto Parts are tenants at the property, which is situated on 8.9 acres. At the time of sale, the property was 89 percent occupied. Dan Tyler, Gleb Lvovich and Geoff Tranchina of JLL Capital Markets’ Investment Sales and Advisory team represented the seller in the deal.

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ArizonaLoansRetailWestern

Gantry Secures $9M Construction Loan for Retail Center in Avondale, Arizona

by Amy Works

AVONDALE, ARIZ. — Gantry has secured a $9 million construction loan for the development of Phase IV of Park 10 at Avondale, a mixed-use development located in the West Valley Phoenix suburb of Avondale. Situated on 8 acres, Phase IV will include a build-to-suit restaurant for Cooper’s Hawk, as well as a second building that offers inline restaurant space for 85C Bakery and an unannounced third tenant. Adam Parker and Chad Metzger of Gantry’s Phoenix office represented the borrower, Parkland Development, in the transaction. A regional bank provided the three-year, interest-only loan. Owned and developed by Park Development, Park 10 at Avondale is a 43-acre master-planned project that will offer 424,000 square feet of entertainment, hotel, restaurant, retail and medical office space upon completion, according to AZ Big Media.

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307-E-Carmel-St-San-Marcos-CA
AcquisitionsCaliforniaIndustrialLee & AssociatesMixed-UseOfficeRetailWestern

Lee & Associates Brokers Sale of 18,452 SF Mixed-Use Building in San Marcos, California

by Amy Works

SAN MARCOS, CALIF. — Lee & Associates has arranged the sale of a showroom and flex building located at 307 Carmel St. in San Marcos. Creative Carmel LLC, an owner-user, acquired the asset from 307 E Carmel LLC for $6 million. Situated on 1.8 acres, the 18,452-square-foot single-tenant building offers 40 percent showroom, 25 percent office and 35 percent warehouse space. Marko Dragovic, Isaac Little and Olivia Baffert of the Little Dragovic Team at Lee & Associates – North San Diego County represented the seller, while Russ Jabara and Shawn Espino of San Diego Commercial Realty represented the buyer in the deal.

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AcquisitionsMichiganMidwestRetail

SPERRY Brokers Sale of Two Shopping Centers in Southeast Michigan Totaling 140,501 SF

by Kristin Harlow

ORTONVILLE AND FLUSHING, MICH. — SPERRY Property Investment Counselors, an affiliate of SPERRY, has brokered the sale of two grocery-anchored shopping centers in southeast Michigan. One center totals 73,253 square feet in Ortonville, while the other spans 67,248 square feet in Flushing. The seller, being involved in the grocery business for over 110 years, will continue to operate the grocery stores while selling the real estate. Robert Pliska of SPERRY represented the seller.

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GeorgiaMarket ReportsRetailSoutheastSoutheast Market Reports

Retail Reinvention: Atlanta’s Market Shows There Is Room to Thrive

by John Nelson

Atlanta’s retail market is proving it knows how to adapt, evolve and outperform, even in the face of macroeconomic headwinds. Despite a moderation in leasing and investment sales activity in recent quarters, the city’s fundamentals remain strong. Vacancy rates are at historic lows, rent growth is outpacing the national average and population and income growth continue to fuel long-term demand.  Demand and demographics  With vacancy rates consistently under 4 percent, Atlanta remains one of the tightest retail markets in the country. The appetite for well-located retail space hasn’t waned, even as broader economic uncertainty has slowed transaction velocity. In fact, strong absorption numbers and a limited supply pipeline have bolstered landlord confidence and pricing power across the metro.  What’s driving this resilience? A booming population, rising household incomes and a steady influx of corporate relocations. Employers like Microsoft, Google and Cisco are expanding their footprints, bringing with them jobs, workers and spending power. Some of this growth has been particularly noticeable in Midtown.  Redevelopment playbook  Instead of ground-up development, Atlanta’s growth strategy has increasingly focused on reinventing aging retail centers in prime locations. With construction costs high and land increasingly scarce, developers opt to reimagine what already exists. These projects …

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Affordable HousingDevelopmentFloridaMixed-UseRetailSoutheast

Housing Trust Group Opens $100M Mixed-Use Affordable Housing Development in Hollywood, Florida

by John Nelson

HOLLYWOOD, FLA. — Housing Trust Group (HTG) has opened the Apartments at University Station, a $100 million mixed-used affordable housing community located in downtown Hollywood. The development features 216 income-restricted units of affordable and workforce housing — 108 one-bedroom and 108 two-bedroom apartments — ranging in size from 621 square feet to 899 square feet. The property’s affordable component will apply to all households earning between 22 and 80 percent of the area median income. The complex comprises two residential towers, a 635-space public-private parking garage, more than 2,000 square feet of retail space and a new 12,210-square-foot campus for Barry University’s College of Nursing and Health Services. Amenities at the complex include a multipurpose room with a catering kitchen and bar, fitness center, resort-style swimming pool and a game room, as well as elevated pedestrian bridges connecting the residential buildings to the parking garage. Developed in a public-private partnership with the City of Hollywood, the project team includes general contractor ANF Group Inc., Corwil Architects, HSQ Group (civil engineer), B. Pila Design Studio (interior design), Witkin Hults + Partners (landscape architect), BNI Engineers (structural engineer), RPJ Inc. (MEP engineer) and Kaller Architecture (Barry University interiors). Financing sources for the development …

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AcquisitionsFloridaRetailSoutheast

IPA Arranges Sale of 37,201 SF Shopping Center in Boynton Beach, Florida

by John Nelson

BOYNTON BEACH, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Cross Creek Center, a 37,201-square-foot shopping center located in the Fort Lauderdale suburb of Boynton Beach. Built in 1988 and renovated in 2014, the center was 97 percent leased at the time of sale to tenants including Stanton Optical, The UPS Store, Smoothie King and Metro by T-Mobile. Drew Kristol and Kirk Olson of IPA represented the seller, Davie, Fla.-based Janoura Realty, and procured the buyer, Cincinnati-based Phillips Edison & Co., in the transaction. The sales price was not disclosed.

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