10-acre development will deliver this summer with nearly 15,000 square feet of additional retail space
Atlanta-based real estate investment and development firm Branch Properties announced today that it has acquired Wynnehaven Plaza, a Publix Super Markets-anchored shopping center in Navarre, Florida from MAB American Management LLC. The 57,750-square-foot center is currently under construction and is slated for completion later this year.
Located on the northwest corner of US Highway 98 and Rosewood Drive in Navarre, the 10-acre development will include a 48,387-square-foot Publix Super Market. The shopping center will also feature 9,750 square feet of inline retail space adjacent to Publix and a freestanding pad site with high visibility accommodating up to 4,800 square feet.
“This acquisition expands our reach in the greater Pensacola area – a region that has continued to demonstrate rapid growth and maintain its appeal as one the top places to visit and live in the country,” said Branch CIO Jesse Shannon. “With Wynnehaven Plaza we seek to strengthen the offering of high-quality dining and essential retail shops serving the ever-growing community. The relationships we have built in the area thus far will carry us into this next chapter as we continue to pursue meaningful partnerships and opportunities within the Panhandle.”
Located just outside of the Wynnehaven Beach community within Santa Rosa County, Wynnehaven Plaza will cater to the region’s rising population, which increased by more than 24% in the past decade according to the 2020 U.S. Census. The town of Navarre itself grew by over 30% and was recently named as one of the top places to live by Money.com. The city is home to a large population of U.S. military personnel, federal civil servants, retirees and defense contractors and is expected to continue growing by another 2% through 2025.
Wynnehaven Plaza marks the sixth overall Publix-anchored center in the pipeline for Branch, all of which have been announced since the onset of the pandemic. Branch currently has two other projects under construction in the Pensacola area delivering within the next year, including Merganser Commons at Dogwood Estates, a 66,921-square-foot Publix-anchored center, in Milton, Florida, and Elevate Navarre, a 332-unit multifamily community in Navarre.
In addition to its Panhandle projects, Branch is also developing Perimeter Marketplace in Dunwoody, Ga.; Hugh Howell Marketplace in Tucker, Ga.; The Market at Hays Farm in Huntsville, Ala.; Summerhill Station in Atlanta, Ga.; and Moncks Corner Marketplace in Moncks Corner, SC.
For more information on Branch Properties, click here.
About Branch Properties
Founded in 1973 and based in Atlanta, Branch Properties, LLC is a private real estate investment firm primarily focused on the acquisition and development of high-quality, grocery anchored shopping centers located in the southeastern United States. Branch and its affiliated companies have acquired, developed and managed over $2.5 billion of commercial real estate, accounting for more than 12 million square feet of leasable space. Branch’s investment acumen, operating experience, market relationships and access to capital enable it to source and execute attractive risk-adjusted investment opportunities on behalf of its partners. To learn more about Branch, visit www.branchprop.com.
