TALLAHASSEE, FL-Konover South LLC of Boca Raton, FL has signed anchor tenant Publix to a 45,600-sf lease at its 6.7-acre Governor's Crossing II shopping center being developed at the northeast corner of Governor's Square Mall at Park Avenue and Blair Stone Road. Completion is tentatively scheduled for the fourth quarter.
Blair Hyatt, Konover South executive vice president of development, didn't disclose lease terms, but area retail brokers familiar with the Governor's Square Mall submarket tell GlobeSt.com the Publix lease was for at least 10 years at an estimated effective rent of $16 per sf or an estimated aggregate value of $7.3 million.
Hyatt says Governor's Crossing II "offers a great location, and with Publix anchoring the shopping center, we expect high demand for the remaining space." Available space ranges from 1,500 sf to 5,000 sf.
Konover South, part of the Simon Konover Cos. group based in West Hartford, CT, is also developing three other corners at the Park Avenue and Blair Stone Road intersection. Hyatt says space is available for outparcels and build-to-suits from 1,000 sf to 20,000 sf.
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