Garrison Investments Grabs Retail Center From Kimco

WEST MELBOURNE, FL—Garrison Investment Group just snapped up a 144,000-square-foot retail center in West Melbourne. Garrison acquired the Shoppes of West Melbourne from Kimco Realty Corporation. Financial terms of the retail deal were not disclosed.   “At about 93% leased, Shoppes of West Melbourne is a valuable investment that supports our overall strategy to grow our 4.5 million-square-foot portfolio in key markets across the U.S.,” Mitch Salmon, senior vice president of Garrison Investment Group, said in a statement. “We feel there is tremendous opportunity for well-designed and located product in Florida and look forward to growing our footprint in the region.”

Garrison awarded Stiles Property Management, a division of Stiles, the property management contract. Sembler Company was selected to provide leasing services. Located at 1501 West New Haven Avenue on Highway 192 in Brevard County, the Shoppes of West Melbourne is home to a broad selection of national tenants including Bed Bath & Beyond, Jo-Ann, Party City, T-Mobile, and Office Depot.