Florida

ORLANDO, FLA. — Newport Capital Partners has acquired West Colonial Oaks, a 160,792-square-foot, grocery-anchored shopping center situated on the southwest corner of West Colonial Drive and North Hiawassee Road in Orlando. Newport Capital acquired the property via its Newport Capital Partners Fund III. The property was sourced and acquired off-market from a private investor. Newmark arranged acquisition financing through Ameris Bank. The seller and sales price were not disclosed. West Colonial Oaks is currently 94 percent leased and its largest tenant is national discount retailer Ollie’s Bargain Outlet. The property’s other tenants include Fancy Fruit & Produce, Office Depot, Crazy Buffet, Family Dollar, Olive Garden and Optum Primary Care. The shopping center is shadow-anchored by The Home Depot and is also close to employment and education drivers including Valencia College, Orlando Health Central Hospital and the Seaboard Industrial neighborhood, which is home to Amazon’s 1.1 million-square-foot distribution center.

ST. PETERSBURG, FLA. — Tricera Capital has acquired a ground-floor retail space at Related Group’s recently completed ICON Central, a mixed-use development in St. Petersburg. The transaction totaled $11.1 million and included the adjoining Union Trust Bank building. In total, the ground-floor retail space and historic bank building span nearly 35,000 square feet of rentable space. Related Group was the seller. Currently, about 7,000 square feet of the retail space is leased to BurgerFi and Watts Dental, which are open now. Related Group constructed the 368-unit ICON Central on an entire city block along Central Avenue. As part of its redevelopment, Related renovated the bank building, which was originally constructed in 1926, for commercial use. Scott Wadler and Alec Fox of Berkadia arranged $9.9 million in acquisition financing on behalf of Tricera. Money360 provided the financing.

TAMPA, FLA. — Plaza Advisors has arranged the sale of Horizon Park, a 215,713-square-foot shopping center located at 3904 W Hillsborough Ave. in Tampa. An entity doing business as CRP II – Horizon Park LLC sold the property for $21.9 million. The buyer was not disclosed. Jim Michalak and Keith Nurre of Plaza Advisors represented the seller and were the only brokers involved in the transaction. Built in 1971, Horizon Park was renovated in 1980 and 1988 and was 86 percent leased at the time of sale. In 2011, Plaza Advisors arranged the sale of the center to the seller for $18.9 million. The shopping center’s anchor tenants include dd’s Discount, Conn’s Home Plus, Northern Tool + Equipment and Guitar Center. Additional tenants include Dollar General, Pizza Hut, Metro PCS, Amscot and Sally Beauty, as well as two outparcels occupied by Wells Fargo, Optical Outlets and Applebee’s.

LAKELAND AND MELBOURNE, FLA. — SRS Real Estate Partners has arranged the sale of two Crunch Fitness-occupied properties located in the Central Florida cities of Lakeland and Melbourne. The sales totaled $12.1 million. Matthew Mousavi, Patrick Luther and Patrick Nutt of SRS represented the seller, a Florida-based development firm, in the disposition of both properties to two separate buyers. Mousavi and Luther also represented the undisclosed buyers in the transactions, both of which are private investors based in California. The 18,000-square-foot Lakeland property is located at 5218 Florida Ave. S and sold for $5.9 million. Located at 1257 W. New Haven Ave., the 45,487-square-foot Melbourne property sold for just under $6.2 million.