Florida

MERRITT ISLAND, FLA. — A tenancy-in-common (TIC) entity including MHCommercial Real Estate Fund II, a private equity fund launched by South Florida-based commercial real estate services firm NAI Merin Hunter Codman, has acquired the Shoppes at Victoria Square on Florida’s Space Coast for $16 million. Situated approximately 50 miles east of Orlando in Merritt Island near the Kennedy Space Center, the Shoppes at Victoria Square totals 109,000 square feet and is anchored by Burlington, Five Below and Ulta Beauty. The property was 98 percent leased at the time of sale. This acquisition marks the second Merritt Island investment for MHC Fund II, following the purchase of Merritt Crossing, a 90,000-square-foot grocery-anchored retail center, in July 2025. John Crotty, Michael Fay, David Duckworth, Brian de la Fe and Philip Shapiro of Avison Young represented the seller, an entity doing business as Victoria Square Partners, in the transaction. Stuart Kapp and Jake Seiler of Kapp Morrison Aker LLP law firm represented the TIC buyers, an entity doing business as Ocala North Partnership, which includes Ted Lightman and James O’Connor of Charles Wayne Properties; Jim Scalo and Brian Walker of NAI Burns Scalo; and MHCommercial Fund II. BankUnited provided financing. NAI Merin Hunter Codman …

BONITA SPRINGS, FLA. — Marcus & Millichap has brokered the $3.8 million sale of a 4,665-square-foot retail strip center located at 27250 Bay Landing Drive in Bonita Springs, a city in southwest Florida. Built in 2000 and renovated in 2014, the freestanding center was fully occupied on long-term, triple-net leases by Starbucks Coffee and Tide Cleaners. Chris Garavaglia, Andrew Muth and Alex Perez of Marcus & Millichap’s St. Louis office represented the seller, a private developer, and procured the buyer, a Florida-based investor, in the transaction. Both parties requested anonymity. Ryan Nee served as Marcus & Millichap’s Florida broker of record.