The Palomar Group Announces Sale of Port Orange Plaza in Port Orange, Florida

The Palomar Group Announces Sale of Port Orange Plaza in Port Orange, Florida

The Palomar Group, a full-service commercial investment sales firm headquartered in Augusta, Georgia, is pleased to announce the sale of Port Orange Plaza, a retail shopping center located at 4020 S Ridgewood Ave in Port Orange, Florida.

Port Orange Plaza is anchored by Human-Conviva Care Center and Modern Concepts, and sits along S Ridgewood Ave, a corridor that sees more than 52,000 vehicles per day. The center was 81% occupied at closing, with in-place rents below market, offering the incoming ownership a clear value-add opportunity.

The Palomar Group had been in dialogue with the seller, M&P Shopping Centers, an Atlanta-based family office, about Port Orange Plaza for approximately five years, having long recognized the strength of the property’s market and location despite periods of tenant instability at the center. Palomar connected M&P Shopping Centers with its X Team partner, Cantrell Morgan, to lease the property, and Cantrell Morgan’s efforts stabilized occupancy and positioned the asset for sale. Ahead of formally bringing the deal to market, Palomar engaged Poplar Grove Partners, which believed in the opportunity and worked with the team to reach a price that satisfied all parties. The sale closed on August 19, 2026, with Poplar Grove Partners acquiring the property from M&P Shopping Centers. Cantrell Morgan will remain on as leasing agent for the center, continuing to help bring its value-add potential to life.

“We’d been talking with M&P Shopping Centers about this center for about five years — we always believed it had great potential given the market and location,” said Steve Collins, Partner at The Palomar Group. “There had been some tenant instability, so we connected them with our X Team partner, Cantrell Morgan, to lease the center, and they got it stabilized. Once that was accomplished, it was time to sell. We engaged Poplar Grove Partners before taking the deal to market, and they believed in it and got to a number everyone was happy with. M&P Shopping Centers and Poplar Grove were great to work with, and the process was smooth from start to finish.”

“We’re grateful to Steve Collins and the Palomar Team for their hard work and partnership in helping bring this transaction to a successful close.”

-Jeremy Rosenthall, Managing Director at M&P Shopping Centers

The Palomar Group is a full-service commercial investment sales firm specializing in the sale of single-tenant, multi-tenant, and multifamily properties across the United States. With a proven track record of over $2.5 billion in completed transactions spanning 23 states and more than 14 million square feet, The Palomar Group is committed to delivering exceptional results through data-driven strategies, deep market knowledge, and a client-focused approach. The sale of Port Orange Plaza reflects that continued track record, adding another successful value-add outcome to Palomar’s growing national retail portfolio.