FRONT STREET CO-BROKERS SALE OF PUBLIX-ANCHORED CENTER

FOR IMMEDIATE RELEASE:


Front Street Commercial Real Estate Group, in conjunction with CBRE’s Jacksonville office, successfully co-brokered the sale of Esplanade at Butler Plaza, a Publix-anchored shopping center located in Gainesville, Florida.

Regency Windsor Capital, Inc. of Vero Beach, which sold the center, had been a partner with Butler Enterprises in the Esplanade project until three years ago. After becoming the sole owner, Regency Windsor completely redeveloped the 132,600-square-foot shopping center, located within the Archer Road retail corridor’s “Miracle Mile.” The buyer, Esplanade Capital LLC, a partnership led by Aventura developer Daniel Halberstein, paid $22.5 million for the center in June 2014. Halberstein’s group has retained Front Street to continue leasing the project. 

Changes in the shopping center include the addition of 4 Rivers Smokehouse on the eastern endcap, the opening of Jo-Ann Fabric and Craft, the relocation and expansion of McAlister’s Deli, and the addition of Guitar Center. A new Panda Express restaurant opened along Archer Road, and Esplanade’s parking lot was upgraded with additional landscaping and head-in parking in front of the shop spaces.

The renovation and leasing efforts by Front Street brought the occupancy of Esplanade from about 50 percent to over 95 percent. 

“We wanted to bring the shopping center to a high note and make it attractive to create the greatest value,” said Hal Lambert of Regency Windsor. “Nick Banks, Front Street’s managing director, has a background as a developer and owner, which comes through with his creative thinking. He brought us a long view of what would be best for the center.”

Lambert added that Front Street partnering with CBRE in brokering the sale of Esplanade was “the best of both worlds, with CBRE reaching potential buyers nationwide, and Front Street articulating the local market dynamics to prospective buyers.” 

ABOUT FRONT STREET:

Front Street Commercial Real Estate Group is a leader in the Gainesville commercial real estate business.  The company’s mission is to impact its community, clients and industry by doing commercial real estate differently.  Front Street is committed to leadership in the commercial real estate industry by offering superior brokerage, commercial mortgage banking and property management solutions to its commercial real estate clients. For more information, please visit www.frontstreet.net or contact Nick Banks at nickb@frontstreet.net

BEFORE

AFTER

Click here for news coverage from CBRE, or click here for coverage from the Gainesville Sun. For more Front Street news, click here...


FRONT STREET COMMERCIAL REAL ESTATE GROUP

4735 NW 53rd Avenue, Suite B
Gainesville, FL 32653
 Tel: 352.505.3884 
Fax: 352.678.4237 
www.frontstreet.net
nickb@frontstreet.net

Comment

Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

 Subscribe in a reader

Subscribe to Front Street's News Page by Email