JLL Capital Markets facilitated the sale of Grand Bay Plaza at 19100 S. Tamiami Path in Fort Myers, Fla. The agency facilitated the deal on behalf of the property’s earlier proprietor, a three way partnership between Lombardi Properties and Fox Farm Capital. The client, a non-public investor, was represented by Wilder within the transaction.
Transferring ahead, Wilder will deal with the leasing and administration of the 77,810 square-foot grocery-anchored property, which is anchored by Publix. On the time of the sale, Grand Bay Plaza was 100% leased. Different well-known tenants embody Sherwin Williams, Papa John’s and The UPS retailer.
The three way partnership between Lombardi Properties and Fox Farm bought the grocery-anchored heart in 2019 for $11.3 million, in response to CommercialEdge. Phillips Edison & Co. was the vendor of the 17.3-acre property.
JLL Capital Markets known as upon Senior Managing Director Danny Finkle, Senior Director Jorge Portela and Vice President Kim Flores to symbolize the vendor within the transaction.
Situated just below 14 miles exterior of Fort Myers, Grand Bay Plaza is shut to varied neighborhoods within the southwest Florida coast space, one of many fastest-growing markets within the state. The buying heart is true alongside US-41, the place over 50,000 automobiles drive each day. Shut by is Southwest Florida Worldwide Airport, which is inside 9 miles of the property, and Florida Gulf Coast College is inside 6 miles.
Additionally close by, EQT Exeter has made an funding in a 500,000-square-foot industrial campus in Fort Myers. The corporate bought the property for $87 million from Stonemont Monetary Group and Geis Growth.
Southern Florida’s resilient retail market
In keeping with a latest Colliers report, the southwest Florida retail market has proven resilience all through the primary quarter of 2025. The world noticed the supply of 87,000 sq. toes of house, pushing emptiness up by 3.3 %. Internet absorption totaled 204,070 sq. toes, reflecting a robust demand for retail house out there.
In one other southern Florida market earlier this 12 months, Hudson Bay Capital supplied a $104 million mortgage for section one in all Centro Metropolis, a 38-acre mixed-use improvement in Miami. The financing will likely be used to assemble the 350,000-square-foot retail portion of the undertaking. Upon completion, the mixed-use improvement will embody 1,200 market-rate residences, a inexperienced house, a shopping mall and a Class A workplace constructing.
