St. Petersburg, Fla. -- The Sembler Company will introduce the newest additions to its portfolio as the company participates in the International Council of Shopping Centers’ Florida conference Aug. 24-26 in Kissimmee.
As part of a strategic shift back to traditional grocery-anchored shopping centers, Sembler recently inked deals on two Florida centers: North Port Center, Heron Creek, a grocery-anchored neighborhood center in North Port, Sarasota County, Florida; and The Shoppes at Trinity Lakes in Pasco County, Florida.
North Port Center will feature a 42,000-sq.-ft. grocery store accompanied by 4,800 sq. ft. of retail shop space and three outparcels. The year-long construction schedule will commence in second quarter 2015.
The Shoppes at Trinity Lakes includes a 45,000-sq.-ft. grocery store accompanied by 15,000 sq. ft. of retail shop space and three outparcels. The project is in partnership with Adam Smith Enterprises.
“We are actively seeking shopping center acquisitions throughout the southeast U.S. and Puerto Rico,” said Sembler CEO Ron Wheeler. “These two developments were perfect additions to our active pipeline, and we’re excited to move forward with adding value for both the tenants of the centers and the local communities.”
With nearly three million sq. ft. in various stages of ground-up development, Sembler’s development portfolio is as robust as it has been in several years, according to Wheeler.
That includes two major new developments in northern Alabama: Midtown MarketPlace, a 135,000-sq.-ft. neighborhood shopping center in the city of Madison; and Town Madison, an 800,000-sq.-ft. regional shopping center within a 300-acre development that local officials called a “game-changer” for the Madison-Huntsville market.