Wagner Property Group sold a 2-year-old retail center, The Plaza at Normandy, on July 6 for $20.685 million.<\/p>\n
Through WPG-Normandy LLC, Wagner Property Group sold the property at 11341 Normandy Blvd. to Brighton Commons LLC and Commonwealth-Griggs LLC, according to the notice of the deed recording July 22 with the Duval County Clerk of Court.<\/p>\n
The deed was not posted as of 3:40 p.m. July 22.\u00a0<\/p>\n
State corporate records show that Brighton Commons LLC was registered with the state July 16, 2026. The manager is The Mount Vernon Co. Inc. of Boston.<\/p>\n
TSCG announced the sale July 21 of the newly developed Publix-anchored shopping center at northwest Normandy Boulevard and Chaffee Road South.<\/p>\n
The TSCG investment sales team was led by Anthony Blanco, partner and senior managing director of investment sales. The buyer was represented by Laurie Ann Drinkwater of Marcus & Millichap.<\/p>\n
TSCG said the fully leased center was sold on behalf of Wagner Property Group, a Tampa-based private developer, to a 1031 exchange buyer. Fidelity.com explains that a 1031 exchange allows estate investors to sell a property and reinvest the proceeds in a similar property, deferring capital gains taxes that would otherwise be due upon the sale. It is named after Section 1031 of the IRS tax code.<\/p>\n
\u201cWe continue to see significant investor interest in well positioned, grocery-anchored centers like The Plaza at Normandy,\u201d Blanco said in a news release.<\/p>\n
\u201cThis Publix already ranks among the top-performing stores for customer visits in the Jacksonville market.\u201d\u00a0<\/p>\n
Built in 2024, The Plaza at Normandy totals 58,691 square feet and was 100% leased at the time of sale, TSCG said.<\/p>\n
Lakeland-based Publix Super Markets Inc. occupies 46,791 square feet with what the release said was its newest prototype grocery store featuring a drive-thru pharmacy and an adjacent 2,100-square-foot space leased to a liquor store.\u00a0<\/p>\n
Other tenants include Xtreme Wings, Hair Cuttery, Nail Art Studio & Spa, UPS Store and \u00a0AT&T Wireless.\u00a0<\/p>\n
Separately owned outparcels with McDonald\u2019s and Wawa were not a part of the transaction.\u00a0<\/p>\n
\u201cWith more than 6,600 housing units under construction nearby and an Amazon fulfillment center employing over 1,200 people just down the road, the property is well-positioned to benefit from that growth,\u201d Blanco said.<\/p>\n
The site is east of the First Coast Expressway and northeast of AllianceFlorida at Cecil Commerce Center, where Amazon has a fulfillment center at 13333 103rd St.<\/p>\n
The TSCG investment sales team included Blanco; Mallory Silva, marketing coordinator; and Spencer Kinsella, associate vice president.\u00a0<\/p>\n
Based in Atlanta, Miami and New York City, TSCG\u2019s Investment Sales team provides strategic advisory and transaction services for the acquisition and disposition of income-producing retail properties across the eastern United States.\u00a0<\/p>\n
TSCG says it is the largest privately held retail-focused commercial real estate services company in the United States, specializing in tenant representation, landlord services, intelligence and investment management.\u00a0<\/p>\n
It has more than 20 offices, including in Jacksonville.<\/p>\n
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