Branch Properties to Begin $40.8 Million Redevelopment of Palm Harbor

Palm Coast, Fla. – Branch, in conjunction with Michael Collard Properties, acquired the 28.7-acre site in May from Chicago-based The Inland Real Estate Group.

Palm Coast, Fla. – Atlanta-based Branch Properties LLC will soon begin redevelopment of Palm Harbor in Palm Coast, located 60 miles south of Jacksonville, Florida. Branch Properties, in conjunction with Michael Collard Properties, acquired the 28.7-acre site in May from Chicago-based The Inland Real Estate Group. The $40.8 million redevelopment plan will bring new and expanded tenants. Branch Properties secured construction loan financing from Synovus Bank.

Palm Harbor will now be known as Island Walk. Plans for redevelopment call for an additional 50,000 square feet of retail space that includes a Publix Super Market, along with additional national anchor tenants and small shop space, and outparcels for additional retail, restaurants and services. As part of the expansion, Publix signed a lease for a new 53,785-square foot store, approximately 20 percent larger than its existing one and located to the west of the existing store.

 Scott Reid

 

 

 

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