Sunday, March 22, 2026
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AcquisitionsFloridaRetailSoutheast

Real Estate Fund Acquires Merritt Crossing Shopping Center on Florida’s Space Coast for $9.1M

by John Nelson

MERRITT ISLAND, FLA. — MHCommercial Real Estate Fund II, a private equity fund launched by South Florida-based commercial real estate services firm NAI Merin Hunter Codman Inc., has acquired Merritt Crossing, a 90,000-square-foot shopping center on Florida’s Space Coast, for approximately $9.1 million. John Crotty, Michael Fay, David Duckworth, Brian De La Fe and Philip Shapiro of Avison Young represented the seller, Dechomai Asset Trust Number Three LLC, in the transaction. Matthew Brown, Nicholas White and Will Rosenfield represented the buyer on an internal basis. DG Market and Planet Fitness anchor the shopping center, which is situated on 15.3 acres at 239 Crockett Blvd. on Merritt Island. Merritt Crossing was 92.3 percent leased at the time of sale. NAI Merin Hunter Codman will manage the shopping center, and Holly Carver and Lisa Earnhardt of Rocket City Commercial Real Estate will lease the property on behalf of the new ownership. Since launching in 2022, MHCommercial Real Estate Fund II has purchased nine properties totaling 1.1 million square feet.

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Chiefland Regional Shopping Center
AcquisitionsFloridaRetailSoutheast

Coldwell Banker Arranges Sale of 140,664 SF Shopping Center in Chiefland, Florida

by Abby Cox

CHIEFLAND, FLA. — Locally based Coldwell Banker Commercial M.M. Parrish Realtors has arranged the sale of Chiefland Regional Shopping Center, a 140,664-square-foot retail center located in Chiefland, approximately 30 miles southwest of Gainesville, Fla. Bealls anchors the center, which was 95.6 percent occupied at the time of sale to tenants including Rent-A-Center, Tractor Supply Co., Subway, Metro by T-Mobile and a Winn-Dixie grocery store, which will soon be converted into an Aldi. This transaction marks the first time the property has been sold since its original development in 1989. Jim Michalak and Jeff Berkezchuk of Plaza Advisors represented the buyer, Georgia-based Vanguard Associates, in the deal. Coldwell Banker Commercial M.M. Parrish Realtors represented the undisclosed seller. The sales price was also not disclosed.

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Festival South Aerial
AcquisitionsDevelopmentFloridaIndustrialSoutheast

Foundry, Crow Holdings Acquire 10-Acre Site in Pompano Beach, Plan 182,000 SF Industrial Campus

by Abby Cox

POMPANO BEACH, FLA. — A partnership between Foundry Commercial’s Development & Investments platform and Crow Holdings Capital has acquired Festival South, a 10-acre former parking lot site located in Pompano Beach. The site will be redeveloped into a two-building industrial campus that totals 182,000 square feet. The new campus, which will be situated at the corner of NW 33rd Street and NW 27th Avenue near Fort Lauderdale-Hollywood International Airport, marks Foundry’s 21st development in the South Florida market. Further details about Festival South were not released.

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FloridaLoansRetailSoutheast

MMG Equity Partners Obtains $38M Refinancing for Four South Florida Shopping Centers

by John Nelson

MIAMI — Miami-based MMG Equity Partners has obtained a $38 million loan for the refinancing of four shopping centers in South Florida. JLL arranged the loan through Synovus Bank. The four properties include Pinecrest Center and Pinecrest Shoppes in Pinecrest, Westlake Plaza in Westchester and Naranja Plaza in Homestead. The four properties, which front either South Dixie Highway or Bird Road, total 127,826 square feet and were purchased between 2018 and 2020 for a combined total of $28.9 million. The properties are recently stabilized and have undergone nearly $8 million worth of capital improvements under MMG’s ownership.

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FloridaLeasing ActivityRestaurantRetailSoutheast

New Retailers, Restaurants Lease Space on Lincoln Road in Miami Beach

by John Nelson

MIAMI BEACH, FLA. — The Lincoln Road Business Improvement District (BID) has announced a new wave of retailers and restaurants opening on Lincoln Road, the retail high street of Miami Beach. The new concepts include All’Antico Vinaio, an Italian sandwich concept that will occupy 1,793 square feet at 647 Lincoln Road; Che by Chelsey, an apparel concept that opened its 675-square-foot boutique at 830 Lincoln Road in May; and Davinci Gelato, which opened its 1,350-square-foot gelato shop at 645 Lincoln Road in May. Other newcomers will include Prince Street Pizza and Negroni Caffe & Sushi Bar, which will open before the end of the year, as well as Noble 33’s Mediterranean dining concept Meduza Mediterrania, which will open in 2026. Additionally, Victoria’s Secret and PINK have relocated to a newly built-out space spanning 7,500 square feet at 900-904 Lincoln Road, and Beverly Hills-based Alo Yoga will open a new flagship spanning 13,480 square feet at 100 Lincoln Road, a space that has been vacant for a few years.

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AcquisitionsFloridaIndustrialSoutheast

Phoenix Investors Purchases 628,000 SF Industrial Facility in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — An affiliate of Milwaukee-based Phoenix Investors has purchased a 628,000-square-foot industrial facility located at 2121 Huron St. in Jacksonville. The property was previously home to Anchor Glass Container Corp. The seller and sales price were not disclosed. The property features 26 dock doors and clear heights up to 32 feet. Phoenix plans to renovate the facility with a new roof, fire suppression enhancements, exterior and interior paint, new dock equipment and site work improvements. The Jacksonville facility represents the ninth former glass factory that Phoenix Investors has acquired with plans to update for modern industrial use, according to Anthony Crivello, executive vice president and managing director at Phoenix. The construction timeline for the redevelopment was not announced.

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AcquisitionsFloridaGeorgiaIndustrialSoutheastTexasTop Stories

Mapletree to Sell Sun Belt Industrial Portfolio to EQT Real Estate for $241.2M

by John Nelson

SINGAPORE AND CONSHOHOCKEN, PA. — Mapletree Investments Pte Ltd., a global real estate investment and management firm based in Singapore, has agreed to sell a portfolio of 10 bulk warehouse facilities that are located across various Sun Belt markets. Metro Philadelphia-based industrial development firm EQT Real Estate is purchasing the portfolio, which features properties in Georgia, Florida and Texas, for $241.2 million. Specific properties were not released, but a source familiar with the transaction says the assets are situated in suburban Atlanta, Dallas, Houston, Orlando and South Florida. Mapletree owns the warehouse facilities under Mapletree US & EU Logistics Private Trust, a closed-end private fund that was launched in 2019. Mapletree recently sold another portfolio within the $4.3 billion fund — a 1.8 million-square-foot portfolio that Faropoint purchased for $328 million. Clayton Skistimas, Christina Buhl, Marc Alfert, Mark Chu and Steve Silk of Eastdil Secured represented Mapletree in the transaction with EQT. The deal is expected to close by late 2025. “This divestment represents a strong outcome for our investors and affirms the value we’ve created across our U.S. industrial portfolio,” says Richard Prokup, CEO of Mapletree’s U.S. division. “As we look ahead, we remain focused on reinvesting in premier …

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AcquisitionsFloridaHospitalitySoutheast

Blackstone to Acquire Sunseeker Resort on Charlotte Harbor in Florida for $200M

by Abby Cox

PUNTA GORDA, FLA. — Blackstone Real Estate has announced plans to acquire Sunseeker Resort on Charlotte Harbor, a 785-room hotel located in Punta Gorda, about 24 miles north of Fort Myers, Fla. Barclays served as financial advisor to the publicly traded seller, Allegiant Travel Co. The transaction is expected to close in the third quarter of 2025. Spanning 22 waterfront acres, the newly constructed Sunseeker Resort offers the choice of Premium Rooms or signature Sunsuites. Amenities include multiple food-and-beverage concepts, two swimming pools, an additional rooftop swimming pool and bar, spa, fitness center, championship golf course and more than 60,000 square feet of combined indoor meeting space.

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Perse Apartments
AcquisitionsFloridaMultifamilySoutheast

Atlas Real Estate Acquires 384-Unit Multifamily Community in Orlando

by Abby Cox

ORLANDO, FLA. — Atlas Real Estate Partners has acquired Perse Apartments, a 384-unit multifamily complex located in the Little Lake Bryan neighborhood of Orlando. Ted Taylor and Kyle Butler or JLL’s Investment Sales and Advisory team represented the seller, TRION Properties, in the transaction. Scott Wadler, Mitch Sinberg, Matt Robbin and Brad Williamson of Berkadia arranged financing for the acquisition. Originally built in 2008, Perse Apartments is situated along the I-Drive corridor at 8151 Peterson Woods Drive and features one-, two- and three-bedroom floorplans averaging more than 1,100 square feet in size. Amenities include a resort-style swimming pool, fitness center, clubhouse, courtyard, conference rooms, laundry facilities and a grill and picnic area. Atlas Real Estate plans to renovate unit interiors and common areas, as well as to enhance the property’s amenities with repositioning the swimming pool with a sundeck and cabanas and improving the fitness center and clubhouse.

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Magnolia at Powell
Build-to-RentFloridaLoansMultifamilySoutheast

JLL Arranges $26M Construction Loan for 132-Unit Build-to-Rent Community in Wildwood, Florida

by Abby Cox

WILDWOOD, FLA. — JLL Capital Markets has arranged a $26 million construction take-out bridge loan for Magnolia at Powell, a newly constructed, 132-unit build-to-rent residential community in Wildwood, roughly 50 miles outside Orlando. Max La Cava, Melissa Quinn, Bob Rothaug and Jade Starkey of JLL’s Debt Advisory team arranged the three-year, floating-rate loan on behalf of the borrower, Agador Spartacus Development, through a domestic investment management firm and its international mezzanine debt partner. Completed in January 2025, Magnolia at Powell is situated just outside of The Villages and is currently 40 percent occupied. The complex, which is an age-inclusive housing option, offers one-, two- and three-bedroom townhomes averaging 1,162 square feet in size. Amenities include a resort-style swimming pool, fitness center, pickleball court and a dog park. Monthly rental rates for a one-bedroom townhome at Magnolia at Powell begin at $1,350, according to Apartments.com.

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