• August 5, 2025
  • Posted by: Regent Harbor Team
  • Category: Business
Interior shot of a Publix store, in the area where shopping carts are stored

Big Moves in Retail: Bain and 11North Capitalize on Open-Air Centers

So, you’re strolling down the street with your coffee, right? And you’re pondering on the latest buzz in retail real estate. Well, let me clue you in: Bain Capital Real Estate and 11North Partners just made a splash.

The Scoop on the Acquisition

These two smart cookies teamed up and snapped up a bunch of open-air retail centers. We’re talking a cool $395 million for ten spots in Florida and South Carolina. PGIM Real Estate decided to pass the baton, selling over a million square feet of prime retail space. And here’s the kicker: they’re boasting a 93% occupancy rate.

Where’s What?

Let’s break it down. Picture these sun-drenched locales in the Florida vibe spots like Fort Lauderdale, Orlando, Tampa, and Palm Beach. Don’t forget charming Charleston, S.C. Here’s where you’ll find these sprawling centers:

  • Sawgrass Square: 215,658 square feet in Sunrise, FL.
  • Plantation Promenade: A cozy 153,906 square feet in Plantation, FL.
  • Miramar Commons: Offering 83,740 square feet in Miramar, FL.
  • Rolling Oaks Commons: A hefty 159,804 square feet in Kissimmee, FL.
  • The Promenade at Poinciana: A cool 86,007 square feet in Kissimmee.
  • Solivita Marketplace: A boutique 38,473 square feet in Kissimmee.
  • New Tampa Center: 93,666 square feet in Tampa, FL.
  • Lake Worth Plaza: 29,011 square feet in Lake Worth, FL.
  • Garden Shops at Boca: 142,566 square feet in Boca Raton, FL.
  • Point Hope Commons: 75,056 square feet in Charleston, S.C.

Publix: The Grocery Anchor Dream

Each of these centers has a Publix. Seven of them have Publix as the anchor. But what else is in the mix? They’ve stacked them with brands like Bank of America, Chipotle, Starbucks, Chick-fil-A, Jersey Mike’s, and even Mickey D’s.

CHECK OUT: Top Retail Trends: Uncertainty Shifts Demand Dynamics in 2025

Why Grocery-Anchored Centers?

Listen, Bain and 11North aren’t the only ones eyeing grocery-anchored spaces. These spots are hot, hot, hot! Investments in these properties bumped up by about 1.4% in 2024, says JLL’s Grocery Report 2025.

“The ongoing expansion of grocery stores is driving demand for retail space,” the report notes. “This trend is expected to persist.”

The Rising Foot Traffic

Shoppers are flocking to these grocery spots like pigeons to bread crumbs. Foot traffic surged to nearly 17.2 billion visits in 2024, which is a nice 1% uptick from the year before and nearly 11% from 2019, according to Placer.ai.

Bain and 11North’s Growing Portfolio

This ain’t their first rodeo. The duo has already made waves, having recently acquired three open-air retail centers in Oklahoma City for $212 million. Those properties are also strongholds, anchored by Whole Foods and Trader Joe’s.

So, whether you’re a retail geek or just love a good business move, keep an eye on these guys. The street’s talking, and I bet we’ll hear more soon.