Launched in 2024, Next Realty Fund XI, LP completed its first investment on December 8, 2025. Next Realty acquired Gaitway Plaza, a 209,028± square-foot dominant community center located in Ocala, Marion County, Florida. Located in one of the fastest-growing markets in the Southeastern U.S., the property is 100% leased with a diverse tenant roster of national retailers, including TJ Maxx, Ross Dress for Less, Golf Galaxy, Michaels, Five Below, Dollar Tree, and Office Depot.
Gaitway Plaza is strategically positioned less than one mile east of the I-75 interchange at a prominent intersection with exceptional accessibility and exposure. Furthermore, it is ideally situated in a thriving metropolitan area, surrounded by a hub of robust commercial activity. Not only is Ocala one of the fastest-growing U.S. metro areas, but it is also home to the World Equestrian Center — the world’s largest equestrian complex — which is in the process of completing a multi-phase expansion of its retail, hospitality, and event venues. The property attracts economic activity from several new residential housing developments, and significant infrastructure improvements to surrounding roadways that will further enhance the area.
Gaitway Plaza Quick Facts
- 209,000± square-foot dominant community center in one of the fastest-growing markets in the country
- Strategically positioned between Orlando, Jacksonville, and Gainesville, Florida
- Strong tenant mix of national retailers – TJ Maxx, Ross Dress for Less, Michaels, Dollar Tree, among others
- Immediate value creation through leasing at below-market rents, tenant upgrades, and NOI growth
- Offers attractive projected cash yields and long-term value creation
