GAINESVILLE, FLA. — Prudent Growth Partners LLC, a private equity firm based in Chapel Hill, N.C., has purchased SouthGate Centre, a 24,025-square-foot retail center in Gainesville. The undisclosed seller sold the property for approximately $5.2 million. Built in 1989 within 1.5 miles from the University of Florida, SouthGate Centre was leased to 13 lifestyle and service retailers at the time of sale.
SANFORD, FLA. — HLI Partners and Whitley Capital have partnered to develop a 116,000-square-foot industrial facility at the corner of West Airport Boulevard and McCracken Road in Logisticenter at Sanford. The project is a build-to-suit development for game distributer PHD Games, which signed a 10-year lease for the facility and will occupy 81,330 square feet. HLI Partners will market the remaining 34,600 square feet of available space. The new facility will house PHD Games and its sister company, Coqui Hobby, as a consolidation of its two existing locations. The facility is scheduled for occupancy in the second quarter of 2026. Additionally, HLI will lease both of PHD Game’s current properties at 623 Trestle Point (20,716 square feet) in Sanford and 390 S. Ronald Reagan Blvd. (21,881 square feet) in Longwood, Fla.
LAKE WORTH, FLA. — Principal Asset Management has sold Pinewood Square Shopping Center, a 204,000-square-foot retail center in Lake Worth, roughly 35 miles north of Fort Lauderdale. Situated on the southeast corner of Lantana and Jog roads, the property was 99 percent leased at the time of sale to 42 tenants including T.J. Maxx/HomeGoods, Ross Dress For Less, Five Below, Goodwill and Delray Medical Center. There are also six additional outparcel buildings that are leased to Chase Bank, PNC Bank, AutoZone, Outback Steakhouse, La Granja and Jiffy Lube. Mark Gilbert, Adam Feinstein and Mitch Halpern of Cushman & Wakefield’s Miami office represented Principal Asset Management in the transaction. The buyer and sales price were not disclosed.
FORT MEYERS, FLA. — CBRE has arranged a $45 million construction loan for the development of Oriole Logistics, a 442,000-square-foot industrial project in Fort Myers. Billy Mork, Joel Torborg and Mike Vannelli of CBRE Capital Markets’ Debt & Structured Finance team in Minneapolis secured the loan on behalf of the owner and developer, Capital Partners. Situated at 16815 Oriole Road, the property is near Southwest Florida International Airport, which in its second phase of a three-year, $1 billion terminal expansion. The Oriole Logistics project will comprise one 136,000-square-foot building and two buildings spanning 153,000 square feet each, according to the Business Observer. Upon completion, the three-building portfolio will feature 84 dock doors, 28 to 32-foot clear heights and a 580-space parking lot. Construction for the project is slated to break ground in April. Oriole Logistics marks the third industrial development for Capital Partners in South Florida since 2023.
JACKSONVILLE, FLA. — Locally based development firm Gateway Jax plans to redevelop the historic Ambassador Hotel located at 420 N. Julia St. in downtown Jacksonville. The developer, along with hotelier The Indigo Road Hospitality Group, will restore the 1924-era property into a hotel with at least 100 guestrooms, a high-end restaurant and bar, conference space and other amenities for business and leisure travelers. In addition to the hotel, Gateway Jax purchased an adjacent land parcel where the company plans to deliver a 487-space parking garage, as well as the historic 404 N. Julia St. building that will be redeveloped in the future. The new hotel will be part of Gateway Jax’s eight-block, $2 billion Pearl Square mixed-use development. Gateway Jax, which is sponsored by DLP Capital and JWB Real Estate Capital, manages a private equity fund focused on downtown Jacksonville developments.
ORLANDO, FLA. — Core Investment Management (CORE) has acquired Dellagio Town Center, a 109,489-square-foot retail center in Orlando, for $37.5 million. Located along the Dr. Phillips retail corridor, the multi-tenant center features 30 different brands including AdventHealth Medical Group, Nola’s Ice Cream, Fleming’s Prime Steakhouse & Wine Bar, Fred Astaire Dance Studios and Fifth Third Bank. CORE plans to enhance the property with an improved tenant mix and aesthetic renovations.
JACKSONVILLE, FLA. — Cushman & Wakefield has brokered the sale of a 587,815-square-foot industrial facility located on a 28-acre parcel at 5245 Commonwealth Ave. in Jacksonville’s Westside submarket. Rick Brugge, Mike Davis, Rick Colon and Dominick Montazemi of Cushman & Wakefield represented the seller, a fund managed by DRA Advisors, in the transaction. Treetop Cos. acquired the property for an undisclosed price. Situated near I-10 and I-295, the property includes a vacant 560,688-square-foot warehouse and a 27,127-square-foot outparcel building fully leased to Conlan Tire.
SANFORD, FLA. — The Ardent Co. has acquired Seminole Towne Center Mall, a 1.1 million-square-foot regional mall located in Sanford, roughly 28 miles northeast of Orlando. The Atlanta-based investor plans to develop the property into a mixed-use development. According to several local media outlets, Ardent purchased the mall from Hollywood, Fla.-based 4th Dimension Properties for roughly $17.5 million. While plans for the 76-acre property will include the addition of new retailers, multifamily housing and a hotel, the center’s four anchor tenants — Dillard’s, JC Penney, Dick’s Sporting Goods and Elev8 — will remain at the property. Seminole Towne Center Mall originally opened in 1995 and officially closed for redevelopment in January.
GAINESVILLE, FLA. — Centurion Property Group has acquired CANOPY, a 770-bed student housing community located near the University of Florida campus in Gainesville. Originally built in 2008, the property offers a mix of two-, three- and four-bedroom floorplans. Amenities include a resort-style swimming pool, fitness center, study lounge, dog park, clubhouse, business center and a sand volleyball court. The new ownership plans to immediately begin making improvements to CANOPY. Newmark brokered the transaction. The seller and additional terms of the deal were not disclosed.
ST. PETERSBURG, FLA. — Tampa Bay Rays owner Stuart Sternberg has announced that the Major League Baseball team will not move forward with the proposed $1.3 billion stadium in St. Petersburg, which was part of the $6.5 billion redevelopment of the Historic Gas Plant property. Sternberg cited hurricane damages and financing delays in the decision behind exiting the project. Concepts for construction of the new 30,000-seat stadium — which would anchor the broader redevelopment project — were released more than a year ago. Under the previously approved agreement, local governments of St. Petersburg would cover roughly half the cost of the $1.3 billion stadium, while the Rays had a March 31, 2025, deadline to gain public financing for the project, including proof that they could meet their $700 million obligation, according to national media outlets. The Rays were anticipated to play three more seasons at Tropicana Field, but damages from Hurricane Milton in October 2024 rendered Tropicana Field unplayable for the 2025 season. The Rays will now use the New York Yankees’ spring training site in Tampa as their home field this season, while the City of St. Petersburg is advancing on plans to restore Tropicana Field in time for the 2026 …
