JLL Secures Construction Financing for 82K-SF Retail Center Near Fort Myers
JLL has secured construction financing for the development of Crescent B Commons, a 82,640-square-foot, Publix-anchored shopping center in Florida’s Babcock Ranch community, northeast of Fort Myers.
Construction on the center began in August 2020, and the Publix-anchored project already has significant pre-leasing momentum, according to JLL. Construction is slated to be completed in Summer 2021, with Publix opening shortly thereafter to serve the Babcock Ranch community.
Tarik Bateh and Jennifer Swanson of JLL represented the developer, Kitson & Partners, to arrange the loan through Ameris Bank. Terms of the financing were not disclosed.
“Babcock Ranch is among the most exciting, fastest growing communities in Florida, thanks to the vision and commitment of Kitson & Partners,” said Bateh. “These traits, combined with Publix’s status as Florida’s dominant grocer, enabled us to attract robust interest in the construction loan request for Crescent B Commons.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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