Florida Witnesses Retail Trade Flurry

ORLANDO—Shopping centers are seeing pricing traction as demand continues rising. LA Fitness Plaza, a 105,453-square-foot shopping center in Palm Beach Gardens, has traded for $22.3 million, while the 48,797-square foot Deltona Commons and the 95,135-square foot Market at Southside, both in central Florida, sold for $9.7 million and $9.3 million, respectively.

“We’re seeing a strong resurgence in demand for well-positioned, income-producing properties by both institutional and private investment groups,” says Anthony Blanco, director of investment sales at The Shopping Center Group. “With these three Florida properties closing just last month, and a total of $112 million in transactions in the first half of the year for our sales team alone, demand throughout the Southeast for fundamentally strong retail properties will soon outpace the supply.”