Benderson Development Acquires Three Florida Retail Properties Totaling 400,000 Square Feet
UNIVERSITY PARK, FL — Benderson Development has acquired three Florida retail properties totaling approximately 400,000 square feet, the company announced Aug. 18, 2026. The transactions add a Publix-anchored neighborhood center in Dunedin, a shopping center in Venice, and a Lowe home improvement store in Estero to the firm's growing Florida portfolio.
"These properties are exciting additions to our portfolio," said Randy Benderson, managing director of Benderson Development. "We're expanding and enhancing our presence in growing communities through acquisitions, new developments and redevelopments across the country."
Three-Property Acquisition Breakdown
Granada Plaza, Dunedin
Granada Plaza is a Publix-anchored neighborhood shopping center located at the signalized intersection of Main Street and Keene Road in Dunedin, a suburb of Tampa. The property spans approximately 74,178 square feet of gross leasable area across three buildings on roughly 6.9 to 7.4 acres, with components dating to the mid-1980s and early 2000s. Publix Supermarket anchors the center, occupying approximately 44,840 square feet. Other tenants at the property have included Wells Fargo, Oishi Sushi & Ramen, Firehouse Subs, and UPS Store. The center was approximately 95% occupied at the time of sale.
Benderson closed on Granada Plaza on June 17, 2026, at a purchase price of $17.5 million. Based on the reported GLA, the transaction implies a price per square foot in the range of approximately $217 to $235, depending on the square footage figure used — marketing materials for the property have cited figures ranging from approximately 74,000 to 79,000 square feet.
Venice Market Place, Venice
Venice Market Place is a retail center situated at the intersection of Tamiami Trail and Center Road in Venice, in Sarasota County. The property sits directly adjacent to a 54,000-square-foot former Albertsons building also owned by Benderson Development, bringing the combined footprint of the two properties to more than 143,000 square feet. The acquisition reinforces Benderson's existing presence in Venice, where the firm already owns Jacaranda Plaza.
Lowe's Home Improvement, Estero
The third acquisition is a Lowe's home improvement store located at 10070 Estero Town Commons Place in Estero, at the intersection of Corkscrew Road and Three Oaks Parkway.
Florida Development Pipeline Exceeds 4.5 Million Square Feet
The three acquisitions build on a broader Florida expansion strategy for Benderson Development that extends well beyond acquisitions. The firm recently acquired Clearwater Shoppes, a grocery-anchored retail destination featuring Whole Foods Market, Nordstrom Rack, and a future two-story Target store.
In addition to acquisitions, Benderson has more than 4.5 million square feet of new development underway throughout Florida. Active projects include:
- A new Publix-anchored center in Naples at Wiggins Pass Road and U.S. 41
- A Publix-anchored mixed-use development in Venice at North River Road and I-75
- Legacy Place, an over 2 million-square-foot mixed-use destination at the entry to The Villages in Central Florida
- Wellen Town Center, a 500,000-square-foot lifestyle center in the Wellen Park master-planned community
- Siesta Promenade, a mixed-use development featuring retail, restaurants, residential, and a boutique hotel at the gateway to Siesta Key
Demolition has also begun on the redevelopment of Palm Bay Plaza in Palm Bay, which will be anchored by Publix.
Florida Retail Market Context
The acquisitions come as Florida's retail market continues to post sub-4% vacancy rates, with strong tenant demand and tight cap rates for grocery-anchored centers. Stabilized Publix-anchored centers in Florida have traded at cap rates in the range of approximately 5.75% to 6.25% in primary markets, with Florida grocery-anchored averages near 5.7% as of mid-2026. No cap rate was disclosed for the Benderson transactions.
Benderson Development's portfolio now encompasses more than 1,000 properties totaling over 58 million square feet across 40 states. Founded in 1949, the privately held company owns and develops retail, office, industrial, hospitality, and mixed-use properties.