- May 11, 2026
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Miami Beach investor sells shopping center
Fort Myers’ LSI Cos. has brokered the sale of a Cape Coral shopping center. The 23,800-square-foot retail plaza sold for $3.19 million to a local LLC. The previous owner is a Miami Beach investor that paid $2.22 million for it in 2001. The property is at 4515 Del Prado Blvd. S., north of Cape Coral Parkway. According to Lee County property records, it was built in 1979. The firm’s Max Molloy, Alex Henderson and Sawyer Gregory represented the buyer. The seller was represented by Jonathan De La Rosa of Marcus & Millichap.
Texas developer plans industrial center
Constellation Real Estate Partners, a Dallas, Texas, developer of logistics properties, has bought 19 acres in Hillsborough County, where it plans to build an industrial center on spec. The property is at 7351 Muck Pond Road, just east of Tampa and off Interstate 4. A spokesperson for Constellation did not respond to questions about the cost of the project or what the company paid for the property. Hillsborough County records, though, show it sold for $6.5 million. The previous owner, an LLC tied to Mississippi developer York Developments, paid $3.5 million for it in 2022. Constellation’s plan calls for the construction of three buildings totaling 251,162 square feet. Construction is expected to start this month and take a year. The three buildings in the Constellation East Tampa Business Center, as it will be known, will be 127,050 square feet; 76,650 square feet; and 47,462 square feet. The center will feature 32-foot clear heights; 251 car parking spaces; and multiple entrances. Constellation will also be extending utilities to the site, according to the company. CBRE’s Kris Courier, Rian Smith and Josh Tarkow will market and lease the center.
Popular beach hotel is sold
The Beachcomber Beach Resort on St. Pete Beach, which was damaged during Hurricane Helene in 2024 and closed for about a year, has been sold to a South Carolina developer. A sale price was not disclosed, and Pinellas County property records have not been updated. The previous owner is Miami based Gencom, which paid $24 million in 2018 for the property at 6200 Gulf Blvd. The buyer is Spartanburg-based OTO Development, which already owns the Hilton Garden Inn St. Pete Beach next door to The Beachcomber. In a statement announcing the purchase, OTO CEO Rob Rain says that the company is “intrigued by the potential synergy” between the two properties, which have two of the town’s busiest bars. (Jimmy B’s Beach Bar is in The Beachcomber and the Hilton has a beach bar.) OTO also owns the AC Hotel St. Petersburg, Hampton Inn & Suites Ybor City and DoubleTree North Redington Beach. In all, the company says it owns 579 rooms in the Tampa Bay market. The 102-room Beachcomber sits on more than six acres and includes a parking lot across the street, says Hodges Ward Elliott, a boutique hotel real estate capital markets advisor affiliated with the Tampa based commercial real estate firm Franklin Street. Along with the bar and beachfront, the resort also has about 2,100 square feet of meeting space and two heated outdoor pools. Hodges Ward Elliott’s Preston Reid, Rudy Reudelhuber and Celina Nowicki represented the sellers in the transaction.
Light industrial space opens, looks for tenants
An Orlando developer has unveiled a new industrial complex in Lakewood Ranch that brings nearly 100,000 square feet of commercial space to the market. Tavistock Development Co. recently completed the buildout of a 93,000-square-foot project consisting of two buildings on Lakewood Ranch Boulevard in Waterside. While it is in the final stages of permitting, the warehouse spaces are currently for lease. The development at 4071 and 4075 Lakewood Ranch Blvd. includes two buildings: one that fronts Lakewood Ranch Boulevard, spanning nearly 40,000 square feet, and one behind it totaling more than 53,000 square feet. So far, one tenant has leased about 25% of the space. The tenant, a distributor, wishes to remain confidential and is expected to move in within the next 60 to 70 days, according to Skipper Peek, senior vice president of commercial sales and development for Tavistock. The tenant has leased 23,388 square feet in the larger building.
Developer secures financing for workforce housing project
One Stop Housing Development and Construction, the developer behind a Bradenton workforce housing project, has secured $15 million in construction financing. The loan is for the 156-unit Forest Cove apartments at 1478 45th Ave. Circle W., near the intersection of Cortez Road West and 14th Street West, a few miles south of downtown Bradenton. One Stop’s CEO and Managing Partner Mark Vengroff says in an email that the expectation is for construction to begin in August and take about two years to complete. The total cost of construction is $28.84 million. The loan was arranged by Ian Fitzgerald of Sarasota based Largo Capital. It is through Cogent Bank and has a 5-year term with 36 months of interest-only payments. As for the community, units will be priced at below market rate for employees of the development group’s nine equity partners: Aladdin Pools, CareerSource Suncoast, Goodwill Manasota, Nissan Motors, Anna Maria Oyster Bar parent company Oysters Rock Hospitality, S&B Metals, Spirit Movers, Sunz Insurance and One Stop.
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