The Lakewood Ranch Project, the Company’s Fourth, Begins Development at 65% Pre-Leased
(FEBRUARY 13, 2018 – LAKEWOOD RANCH, FL) – KW Realty today announces it has acquired and has begun construction on the Shoppes at Commerce Park, a class A, 22,332-square-foot neighborhood retail plaza. Located at 4112 Lakewood Ranch Blvd in Lakewood Ranch, Florida, the service center met with high anticipation, is already 65 percent pre-leased with anchor tenant Keller Williams Realty of Manatee, a member of the Classic Group. Other tenants include X-30 Fitness, Skyline Chili, a nail salon, and a local pharmacy.
The property fits KW Realty’s strict strategic retail investment matrix. Located on the northwest corner of Lakewood Ranch Boulevard and Technology Terrace, Shoppes at Commerce Park provides over 380 feet of frontage on Lakewood Ranch Boulevard, exposure to 16,998 vehicles per day and is conveniently situated near numerous new housing developments.
“Lakewood Ranch is a burgeoning community, as is Manatee County as a whole, ripe with new housing developments and strong economics,” said Rick Kerper, Operating Partner at KW Realty. “Couple the fact there is a limited supply of quality dirt to develop with a growing demand for retail service centers, we have received significant interest from quality tenants and anticipate a brisk lease up.”
The Sarasota/Bradenton metropolitan region once again featured among America’s 20 fastest growing urban areas, cinching the 11th spot on the list by adding enough new residents last year to create another city the size of Venice, according to census figures. In a population spike reminiscent of the pre-housing bust days, the metro region defined by Sarasota and Manatee counties swelled by an estimated 20,123 people between mid-2014 and mid- 2015, for a growth rate of 2.7 percent.