Cushman & Wakefield Represents Sale Of 3.53 Acres In Palm Bay

Cushman & Wakefield represented Hunington Properties in its acquisition of approximately 3.53 acres at the southeast corner of St. Johns Heritage Parkway and Emerson Drive in Palm Bay for more than $2.4 million.

The site is being developed into Shops at Palm Bay, a ±14,014-square-foot retail center slated for delivery in Q2 2027.

The buyer, Hunington Properties, was represented by Cushman & Wakefield’s J. Jeffery Allman Jr., who has been leading pre-leasing efforts for the project, while the firm’s JJ Sanguily represented the Seller, Ascot Palm Bay Holdings LLC.

Located in Brevard County’s largest city, Palm Bay, the site is in a rapidly growing commercial corridor supported by significant residential expansion, including more than 14,000 homes approved or under construction within a three-mile radius. The property is positioned at a signalized intersection with strong visibility and access, benefitting from ongoing infrastructure improvements, including the expansion of both St. Johns Heritage Parkway and Emerson Drive.

Pre-leasing activity for the development is already strong, with more than 51% of the center committed to tenants including GoodVets, EKOS Dental Group and In & Out Liquors. The project will feature a mix of neighborhood-serving retail and service-oriented uses, with a drive-through end-cap still available, along with the last remaining outparcel opportunity.