Lote Group, a Gainesville, Fla.-based development and property management firm, is pleased to announce plans for a complete renovation of the Shoppes of Northshore, a neighborhood landmark in the heart of the Atlantic Beach submarket of Jacksonville, Fla.
“We purchased this property with the vision of re-establishing it as a historic landmark, where 3rd Street and Atlantic Boulevard intersect at the center of Beaches Town Center,” said Taraz Darabi, president and CEO of Lote Group. “We are excited to refresh and re-merchandise the center to extend and complement the walkable, pedestrian-friendly, boutique-style shopping and lifestyle experience of Beaches Town Center.”
“Shoppes of Northshore and Beaches Town Center is a high-energy locale in heavy demand due to the sense of community that is created by the restaurants and boutiques – it is the gathering spot for the beaches,” said Whitney Butler, director of retail leasing for Franklin Street, a full-service commercial real estate firm that serves as the exclusive retail leasing agent for the roughly 17,000-square-foot shopping center.
The renovation will begin this summer and is scheduled to be completed by the end of 2019. The makeover will give the Shoppes of Northshore a more modern look, but still in keeping with the Florida beach-style architecture of the area, along with a variety of new merchants, restaurants and boutiques. The leasing team, led by Butler, is actively seeking local restaurants, boutique retailers and fitness and wellness concepts for the project.
“This shopping center has been a fixture of the Atlantic Beach community for over 25 years,” said Butler. “The new owner is continuing that tradition by bringing in a new group of experiential retailers to better serve neighborhood residents and tourists alike. We’re seeking tenants that will fit the year-round, active lifestyle of both current and future residents.”
Located at 363 Atlantic Boulevard, Shoppes of Northshore boasts some of the best customer demographics of any retail center in Duval County. The property is situated within a 10-minute drive of $1.96 billion of consumer retail spending, including a resident mix of affluent retirees, young professionals, and college-educated families. The Atlantic Beach population enjoys one of the highest average household incomes of any neighborhood in the Jacksonville MSA.
About Franklin Street: Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management – Franklin Street offers unmatched value and optimal solutions for clients nationwide. Learn more about Franklin Street at FranklinSt.com.