Florida

GAINESVILLE, FLA. — JLL Capital Markets has arranged the sale of Gainesville Plaza, a 165,705-square-foot shopping center in Gainesville. Brad Peterson and Whitaker Leonhardt of JLL represented the sellers, Wicker Park Capital Management and Riverstone Capital Group, in the transaction. Cobalt Real Estate Solutions, an affiliate of Divaris Real Estate Inc, purchased the property for $19.1 million. Anchored by Burlington and Ross Dress for Less, Gainesville Plaza was 96.7 percent leased at the time of sale to tenants, including 2nd & Charles, Save-A-Lot, Five Below and Hibbett Sports. Built in 1971 and renovated in 2015, the property is currently expanding with the addition of a new two-tenant outparcel pad preleased to Firehouse Subs and Tropical Smoothie Café, along with a new adjacent Wendy’s location. Located on 16.5 acres at 2649 NW 13th St., Gainesville Plaza is situated 1.8 miles from the University of Florida and 4.8 miles from the Gainesville Regional Airport.

MIAMI — SRS Real Estate Partners’ National Net Lease Group has brokered the $20 million sale of a single-tenant retail property in Miami. Joseph Simon of SRS represented the seller, Crescent Heights, a real estate development firm with offices in New York and Miami. The buyer was a Texas-based undisclosed private investor that was in a 1031 exchange. The retail property is fully occupied by Staples, which has 1.5 years remaining on its lease. Built in 2008 and situated on just under one acre of land, the 20,288-square-foot property can be redeveloped with zoning that allows for up to 500,000 square feet. Located at 2121 Biscayne Blvd., the property is situated less than 4.5 miles west of South Beach. The property is also located between Interstates 95, 195 and 395, and is near retailers including Target, Ross Dress for Less, Publix, Marshalls, Walgreens and Starbucks.

ORLANDO AND KISSIMMEE, FLA. — Marcus & Millichap has arranged the sale of two retail properties, Edgewood Isle Plaza in Orlando and Sunrise Plaza in Kissimmee. The combined sales price for both transactions totaled $12.6 million. Edgewood Isle Plaza is a 78,647-square-foot retail property. Salim Valiani of Marcus & Millichap represented the buyer, Orlando-based Fourth Atlantic Property Investments, in the deal. The seller, an entity known as DCP Edgewood Isle LLP, sold the asset for $7.5 million. Built in 1964, Edgewood Isle Plaza was approximately 30 percent occupied at the time of sale to tenants including Dollar Tree, Pizza Hut and Pinch-a-Penny. Located at 5601 S Orange Ave. on a 6.3-acre site, the plaza is situated within six miles of Universal Orlando Resort, Mall at Millenia, Orlando International Airport and downtown Orlando. Sunrise Plaza, a 24,088-square-foot retail plaza, was sold for $5.1 million. Valiani also represented the seller, an entity known as Sunrise Plaza Enterprise Inc. The buyer was Paradise Apartments. Located at 4137 W Vine St. on 2.9 acres, the property is situated 10.1 miles from Walt Disney World Resort and 22.6 miles from downtown Orlando. Built in 1992, Sunrise Plaza property was 95 percent occupied at the time …

ST. PETERSBURG, FLA. — CBRE has arranged the sale of Bayview Plaza II, a 16,146-square-foot retail strip center in St. Petersburg. Millan Enterprises, a Tennessee-based real estate firm, purchased the property for $3.1 million. Mark Shellabarger and Ari Ravi of CBRE represented the seller, Sarasota, Fla.-based ICORR Properties. Built in 1985 and partially renovated in 2018, Bayview Plaza II was 83 percent leased at the time of sale to eight tenants, including Brewers’ Tasting Room, H & R Block, MCI Metro, Critical Hit Games and Thai Wok restaurant. Located at 11270 4th St. N, the property is situated adjacent to Bayview Office Building and Bayview Plaza, a 78,000-square-foot, Winn-Dixie-anchored shopping center. The property is located 14.7 miles from Tampa and 7.3 miles from downtown St. Petersburg.