South FloridaGabriel Navarro
Navarro has proved himself to be an expert in a retail sector that has defied expertise through much of his career.
The rise of e-commerce brought much exaggerated rumors of the total demise of brick-and-mortar stores and the pandemic boomeranged from an expected general disaster to a lift in certain segments, including the daily-needs centers with grocers, drug stores, and other tenants creating a spur of steady traffic by offering shoppers the everyday staples they need. Navarro was steeped in the category before selling Navarro Discount Pharmacies to CVS in 2014.
The experience has translated as part of a winning formula for MMG Equity Partners as it compiled a portfolio spanning more than two million square feet, including Pinecrest Center, Westlake Plaza, Naranja Plaza, and Pinecrest Shoppes, which feature a diverse tenant mix such as Key Foods, Sergios Restaurant, Veterinary Emergency Group, and Dollar General.
Navarro leads on acquisition, management, and leasing of shopping centers across Florida, and he recently has guided the firm into retail’s latest trend of redeveloping longstanding shopping centers to add other commercial and multifamily assets. The strategy appears set to get a test at Plantation Square, where MMG added two shopping centers for $29 million combined and plans to enhance the tenant mix and develop multifamily housing, including plans for a 308-unit apartment building with affordable units next door.