KW Realty acquires Shoppes at Commerce Park.
KW Realty today announced it will expand its commercial business in Lakewood Ranch with the acquisition and construction of the Shoppes at Commerce Park.
The project is a 22,332-square-foot neighborhood retail plaza at 4112 Lakewood Ranch Blvd., Lakewood Ranch, at the northwest corner of Lakewood Ranch Boulevard and Technology Terrace.
The project already is 65% leased with Keller Williams Realty of Manatee as its main tenant. Other tenants include X-30, Skyline Chili, a nail salon and a local pharmacy.
“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, in a press release. “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 property fits KW Realty’s strict strategic retail investment matrix, providing more than 380 feet of frontage on Lakewood Ranch Boulevard, exposure to 16,998 vehicles per day and proximity to new housing developments, the release states.