Newmark Arranges Sale of Publix-Anchored Granada Plaza in Dunedin, Florida

Newmark has arranged the sale of Granada Plaza, a 74,178-square-foot Publix-anchored community shopping center located in Dunedin, Florida, within the Tampa-St. Petersburg metropolitan area, the firm announced July 2, 2026.

Senior Managing Director Eric Williams led the transaction, with Conor Lalor, President and Head of Retail Capital Markets at Newmark, providing strategic support. Financial terms of the sale, including the purchase price and cap rate, were not disclosed.

Property Overview

Granada Plaza sits on approximately 6.9 acres at the intersection of Main Street and Keene Road in Dunedin, Florida. The center was originally delivered in 1983 and underwent renovations in 2004. The property was 93% occupied at the time of sale.

Publix serves as the anchor tenant. National retailers account for approximately 80% of the property's gross leasable area, and the average tenant tenure stands at roughly 29 years.

Traffic counts at the Main Street and Keene Road intersection approach 70,000 vehicles per day, according to Newmark. The surrounding trade area encompasses nearly 100,000 residents with average household incomes exceeding $80,000, supplemented by a daytime population and a seasonal visitor base.

Investment Profile

Approximately 40% of the center's shop space is scheduled to expire over the next five years, and those leases do not carry fixed-rate renewal options, which Newmark cited as a source of value-add potential through future rent resets.

"Opportunities to acquire grocery-anchored centers with this level of tenant quality, occupancy and embedded upside are increasingly difficult to find," Williams said in a statement. "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."

About Newmark

Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate services firm. For the twelve months ended March 31, 2026, Newmark generated revenues of more than $3.4 billion. As of that date, Newmark and its business partners operated from more than 185 offices with over 9,600 professionals across four continents.

Sources: Newmark Press Release, July 2, 2026