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Salim N. Valiani, along with Yassin Benkabbou of Marcus & Millichap, exclusively marketed the property on behalf of the seller, who was a private high-net-worth individual from South Florida.
Barron Collier Investment Partners plans to develop the new retail and residential destination within West Melbourne’s 225-acre Space Coast Town Center, adding a grocery anchor, apartments, restaurants, services and future commercial space.
The retail center, home to major national tenants and shadow-anchored by Target and Kohl’s, sold in a deal arranged by Atlantic Capital Partners.
The site is being developed into Shops at Palm Bay, a ±14,014-square-foot retail center slated for delivery in Q2 2027.
Colliers’ Brad Peterson and Whitaker Leonhardt represented the seller, Newport Capital Partners, in the transaction.
CBRE has been tapped to oversee leasing and property management at the retail property.
Daytona Beach has approved a major expansion plan for Avalon Park Daytona, a large-scale mixed-use community that could bring thousands of homes, more than 1 million square feet of commercial space and significant road infrastructure to Volusia County over the next two decades.
JLL’s Danny Finkle and Jorge Portela represented the seller in the transaction. According to media reports, Washington Prime Group sold the property for $59.5 million.
Construction is expected to begin immediately, with completion targeted for the second quarter of 2027.
JLL brokered the transaction.
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