Newmark Arranges Sales of Granada Plaza, Premier Grocery-Anchored Shopping Center in Dunedin, Florida

July 2, 2026 9:00 AM

Newmark announces the Company has arranged the sale of Granada Plaza, a 74,178-square-foot community shopping center located in Dunedin, Florida, within the Tampa-St. Petersburg metropolitan area.

Senior Managing Director Eric Williams arranged the transaction. President and Head of Retail Capital Markets Conor Lalor provided strategic support.

Anchored by Publix, Granada Plaza serves as a dominant neighborhood retail destination at the highly visible intersection of Main Street and Keene Road. The property is currently 93% occupied and benefits from a long-tenured tenant roster, with national retailers accounting for approximately 80% of gross leasable area.

"Opportunities to acquire grocery-anchored centers with this level of tenant quality, occupancy and embedded upside are increasingly difficult to find," said Williams. "Granada Plaza combines long-term anchor security with significant rent growth potential, creating a compelling investment profile in a market where replacement opportunities are extremely limited."

Delivered in 1983 and renovated in 2004, Granada Plaza sits on approximately 6.9 acres and benefits from a strategic infill location serving a dense and affluent consumer base. The surrounding trade area includes nearly 100,000 residents with average household incomes exceeding $80,000, complemented by a robust daytime population and seasonal visitor base. The center also enjoys exceptional visibility and access, with traffic counts approaching 70,000 vehicles per day.

The property features an average tenant tenure of approximately 29 years, underscoring its importance within the community and the strength of its merchandising mix. Approximately 40% of the shop space is scheduled to expire over the next five years without fixed-rate renewal options, further enhancing the center's value-add potential.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2026, Newmark generated revenues of more than $3.4 billion. As of March 31, 2026, Newmark and its business partners together operated from over 185 offices with more than 9,600 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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