BV Belk Properties has retained JLL Retail to manage and lease Lakeshore Mall, a 490,000-square-foot retail center located in Sebring, Florida. Lakeshore Mall was built in 1992, and is the only enclosed regional mall within 40 miles of Sebring.
“I see nothing but a good future for Lakeshore Mall, and I am thrilled at the opportunity to take a steady center and make it extraordinary for locals and passer-byes with the support of JLL,” said B.V. Belk Jr., Owner of BV Belk Properties. “We’re committed to serving the community’s shopping needs, and during the next year we’ll be taking proactive measures to upgrade the property making it a gathering place for the community.”
Florida Retail Market Lead John Lambert and Vice Presidents Chris Ralph and Heather Levesque are leading the JLL management and marketing teams, and Andrew Dieringer is tasked with leasing the asset.
JLL’s Managing Directors Kris Cooper, Margaret Caldwell and Carson Good, sold the property to BV Belk Properties earlier this year. “BV Belk Properties’ purchase of Lakeshore Mall in May was perfectly timed with the Florida retail market’s upswing,” said Lambert. “The mall represents a strong value enhancement play and BV Belk’s ability to capitalize and act on that with a renovation and repositioning is expected to propel the property for renewed growth and strong yields.”
The center anchors the retail hub that serves central Florida along US Highway 27, a major north/south corridor between Orlando and Miami, where traffic counts average approximately 38,500 vehicles per day. Sebring is also home to the Sebring International Raceway, host of the “12 Hours of Sebring Endurance Race,” which is one of the automotive world’s oldest and most prestigious races drawing over 100,000 people annually.