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MHCommercial Real Estate Fund II and Ocala North Partnership have purchased Shoppes at Victoria Square, an anchored retail center in Merritt Island, Brevard County, Florida. The partnership acquired the 109,000-square-foot property from Isram Real Estate for $16 million. The center is located at 1450 N Courtenay Parkway in the heart of Merritt Island, within Florida’s Space Coast.
Shoppes at Victoria Square is reported to be 98% leased at the time of sale. The property features recently repositioned space and is anchored by Burlington, Five Below, and Ulta Beauty, all of which are on long-term leases. The high occupancy and established tenant lineup position the center as a stabilized retail asset in the regional market.
This transaction represents the second Merritt Island acquisition for MHCommercial Real Estate Fund II. In July 2025, the fund purchased neighboring Merritt Crossing, a 90,000-square-foot grocery-anchored retail center, for $9.1 million. With the addition of Shoppes at Victoria Square, the fund expands its concentration of retail holdings in close proximity on Merritt Island.
The seller, Isram Real Estate, was represented by Avison Young’s Florida Capital Markets Group. The brokerage team included John K. Crotty, Michael T. Fay, David Duckworth, Brian C. De La Fe, and Philip Shapiro. Their assignment focused on marketing the anchored center and managing the disposition process on behalf of the seller.
Leasing responsibilities at Shoppes at Victoria Square will be handled by Holly Carver and Lisa Earnhardt of Rocket City. Their role will include overseeing tenant relationships and addressing future leasing activity at the property. The combination of a high current occupancy level and a defined leasing team provides continuity for tenants following the ownership change.
The sale of Shoppes at Victoria Square, alongside the earlier acquisition of Merritt Crossing, underscores ongoing investor activity in established retail centers on Florida’s Space Coast. The latest transaction brings a second large-format, anchored retail property under the ownership of MHCommercial Real Estate Fund II and Ocala North Partnership in the Merritt Island area.
The post MHC Fund II, Ocala North Acquire 109K-SF Shoppes at Victoria Square in Merritt Island appeared first on CRE Market Beat.
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