JLL has arranged a $10.9 million loan for the redevelopment of Pearl Britain Plaza, a Publix-anchored shopping center located at the intersection of NE 35th St. and NE 25th Ave. in Ocala.

Elliott Throne and Jesse Wright of JLL secured the financing on behalf of the borrower, a Miami-based family office and American Commercial Realty Corp., the developer, to place the seven-year, fixed-rate loan with lender First Florida Integrity Bank. Loan proceeds will be used for the redevelopment of the property.

The borrower plans on demolishing the existing Publix building at Pearl Britain Plaza that was constructed in 1991 and building a new 48,387-square-foot Publix supermarket with a drive-thru pharmacy anchoring the rebuilt 77,637-square-foot retail center. The redeveloped retail center will have improved visibility and access from all adjacent roads as well as a new façade, lighting and landscaping. All existing tenants have shown their commitment to the project post-renovation by contracting to stay at Pearl Britain.

For comments, questions or concerns, please contact David Cohen