Press Releases
Marcus & Millichap Brokers Grocery-Anchored Retail Center Sale in Northeastern Florida
July 24, 2026
JACKSONVILLE, Fla., July 24, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of The Plaza at Normandy, a 58,691-square-foot Publix Super Market-anchored retail center in Jacksonville, Florida. The center sold for $20,685,000.
"The property is a rare, newly built, well-located Publix-anchored shopping center in a high- growth submarket of Jacksonville,” said Laurie Ann (LA) Drinkwater, CCIM, senior managing director investments with Marcus & Millichap. “Our client recognized the superior blend of credit, age, and growth fundamentals that fit well into their larger multi-property 1031 exchange. This was part of the overall strategy for the client after having divested several properties in the Greater Boston area in order to branch out into Florida and other East Coast markets. They are very excited to be adding two Publix-anchored shopping centers to their portfolio.” Drinkwater, in association with Ryan Nee, Marcus & Millichap’s broker of record in Florida, represented the buyer, Bruce Percelay, chairman of The Mount Vernon Company.
Built in 2024 near the intersection of Normandy Boulevard/Florida State Route 228 and Chaffee Road South on over 16 acres, The Plaza at Normandy is accessible from Interstate 10, Interstate 295, and the First Coast Expressway. The Cecil Commerce Center and the Chimney Lakes, Normandy Village, and Normandy Estates neighborhoods are nearby. The Publix Super Market has a drive- thru pharmacy, and a Publix Liquors is adjacent. Additional tenants include UPS, AT&T, Hair Cuttery, Xtreme Wings, and Nail Art Studio & Spa.
"The property is a rare, newly built, well-located Publix-anchored shopping center in a high- growth submarket of Jacksonville,” said Laurie Ann (LA) Drinkwater, CCIM, senior managing director investments with Marcus & Millichap. “Our client recognized the superior blend of credit, age, and growth fundamentals that fit well into their larger multi-property 1031 exchange. This was part of the overall strategy for the client after having divested several properties in the Greater Boston area in order to branch out into Florida and other East Coast markets. They are very excited to be adding two Publix-anchored shopping centers to their portfolio.” Drinkwater, in association with Ryan Nee, Marcus & Millichap’s broker of record in Florida, represented the buyer, Bruce Percelay, chairman of The Mount Vernon Company.
Built in 2024 near the intersection of Normandy Boulevard/Florida State Route 228 and Chaffee Road South on over 16 acres, The Plaza at Normandy is accessible from Interstate 10, Interstate 295, and the First Coast Expressway. The Cecil Commerce Center and the Chimney Lakes, Normandy Village, and Normandy Estates neighborhoods are nearby. The Publix Super Market has a drive- thru pharmacy, and a Publix Liquors is adjacent. Additional tenants include UPS, AT&T, Hair Cuttery, Xtreme Wings, and Nail Art Studio & Spa.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
