$40.8 million revitalization of Island Walk is now underway

Palm Coast, Fla. -- A transformation is underway. Branch Properties is in the midst of a $40.8 million redevelopment of the largest (and oldest) retail shopping center in Palm Coast, Florida.



Island Walk, once called Palm Harbor Shopping Center, is a 204,000-sq.-ft. center anchored by Publix Super Markets. Once completed in 2016, the upgraded retail destination will bring new and expanded tenants and amenities to the Palm Coast community in an effort to revitalize the city’s original core.



The recent announcement of the signing of several national retailers, restaurants and service providers includes Petco, Tuesday Morning, Hobby Lobby, Moe's Southwest Grill, The Brass Tap Craft Beer Bar (a new-to-market craft beer bar), Metro Diner -- Jacksonville’s popular eatery as featured on Food Network’s “Diners, Drive-ins and Dives”-- Chase Bank and more set to open throughout 2016. The center is currently 84% pre-leased with another 17,500 sq. ft. in active lease negotiations.



“Island Walk’s high-traffic location along a popular corridor along with the strength of the surrounding demographics made it a no-brainer for many tenants to not only join the center but also remain through the redevelopment,” explained Nick Telesca, president, Branch Properties, LLC. “To add to the mix, The Shopping Center Group leasing team has brought the ideal tenants to the mix that really create a valuable, balanced asset – shaping once again a popular destination for household retail and casual dining for the Palm Coast community.” The center is located at Palm Coast Parkway and Interstate 95, with an average daily traffic in excess of 45,000 vehicles. There are nearly 44,000 residents with an average household income of more than $60,700 within a three-mile radius and a trade area population of almost 100,000 consumers.



Branch Properties, in conjunction with Michael Collard Properties, acquired the site on May 16, 2015, from Chicago-based The Inland Real Estate Group.