Tuesday, March 2, 2021

Construction financing secured for new Publix development at award-winning Babcock Ranch near Fort Myers, FL

 

Jennifer Swanson

ORLANDO, FL – JLL Capital Markets announced it has arranged construction financing for the development of Crescent B Commons, a 82,640-square-foot, Publix-anchored neighborhood shopping center in the Babcock Ranch community, northeast of Fort Myers, Florida.

 JLL represented the developer, Kitson & Partners, to arrange the loan through Ameris Bank.

Tarik Bateh

The JLL Capital Markets team representing the borrower was led by Senior Director Tarik Bateh and Associate Jennifer Swanson.

 “Babcock Ranch is among the most exciting, fastest growing communities in Florida; thanks to the vision and commitment of Kitson & Partners,” said Bateh.

“These traits, combined with Publix’s status as Florida’s dominant grocer, enabled us to attract robust interest in the construction loan request for Crescent B Commons.”

Tom Hoban

 “As Babcock Ranch continues to grow, we are excited to offer our residents and neighbors in the area the convenience of a nearby Publix and additional services, shops and multiple dining  options,” said Kitson & Partners’ President and Chief Investment Officer, Tom Hoban.

Construction on Crescent B Commons began in August 2020, and the Publix-anchored shopping center already boasts significant pre-leasing momentum and drawing power for best-in-class, daily needs-based retailers. 

Construction is slated to be completed in Summer 2021, with the Publix opening shortly thereafter to serve the burgeoning Babcock Ranch community.

 Renderings of planned Crescent B Commons

 Crescent B Commons is located at the front door of Babcock Ranch, Kitson & Partners’ award-winning master-planned community.

America’s first solar-powered town topped RCLCO’s 50 Top-Selling Master-Planned Communities’ (MPC) rankings in 2020 with the highest year-over-year growth of 121 percent.

Babcock Ranch was also named Master-Planned Community of 2020 by Lee Building Industry Association.

 Babcock Ranch’s wide array of homes are being built to Florida Green Building Coalition standards, which emphasize energy and water conservation and offer residents a full gig of fiber-optic connectivity.

Builders include Lennar, Pulte Homes, DR Horton and Meritage Homes, among others. Babcock Ranch was created with respect for the natural environment and the philosophy that smart growth and sustainability work hand in hand.

 

CONTACT:

Natalie Passarelli
Public Relations

Jones Lang LaSalle Americas, Inc.

200 E. Randolph St.
Chicago, IL 60601

M +1 224 477 7307

natalie.passarelli@am.jll.com

 us.jll.com/investorservices

 

 

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