MHCommercial Real Estate Fund II has acquired the Shoppes at Victoria Square, a 109,000-square-foot shopping center in Merritt Island, for $16 million. The deal closed April 20, 2026, with the property already 98% leased. Anchored by Burlington, Five Below, and Ulta Beauty, the center sits 50 miles east of Orlando near the Kennedy Space Center. The transaction involved multiple local firms, including Avison Young, Kapp Morrison Aker LLP, and BankUnited, which provided financing. NAI Merin Hunter Codman will manage the center, while Rocket City Commercial Real Estate and NAI Burns Scalo will handle leasing. This is the second Merritt Island acquisition for MHCommercial Fund II, following its purchase of Merritt Crossing in July 2025. The Shoppes at Victoria Square was sold by Victoria Square Partners, represented by John K. Crotty, Michael T. Fay, David Duckworth, Brian C. De La Fe, and Philip Shapiro of Avison Young. Buyers were represented by Stuart T. Kapp and Jake T. Seiler of Kapp Morrison Aker LLP. The new ownership group includes Ted Lightman and James O’Connor of Charles Wayne Properties, Jim Scalo and Brian Walker of NAI Burns Scalo, and MHCommercial Fund II. Amanda Pires and Lisa Anderson of BankUnited arranged the financing. The shopping center’s high occupancy rate and strategic location near the Kennedy Space Center highlight its appeal to investors. NAI Merin Hunter Codman will oversee day-to-day operations, with Holly Carver and Lisa Earnhardt of Rocket City Commercial Real Estate partnering with Bruce Corn of NAI Merin Hunter Codman to lease the property. The acquisition underscores continued interest in Merritt Island’s commercial real estate market, which has seen steady growth in recent years. No immediate plans for major renovations or tenant changes have been announced. The transaction is part of a broader trend of private equity firms targeting well-leased retail properties in Brevard County.