HUDSON, FL – September 16, 2008 – Cushman & Wakefield of Florida announced today that it has finalized the sale of the Fairway Oaks Shopping Center, a 79,283 square foot neighborhood shopping center located at the intersection of Little Road and Hudson Avenue in Hudson, Florida north of Tampa. The property, previously owned by Case Pomeroy Proper
ties, a private real estate investment company based in Jacksonville, Florida, was purchased by Forge Capital Partners, a private real estate investor based in Atlanta, Georgia.
The Cushman & Wakefield investment sales team of Karl Johnston and Patrick Berman (top left photo) represented Case Pomeroy Properties in the deal.
"Fairway Oaks is one of the premier Publix-anchored shopping centers in the Hudson area," said Johnston, Senior Director with Cushman & Wakefield's Jacksonville office.
ties, a private real estate investment company based in Jacksonville, Florida, was purchased by Forge Capital Partners, a private real estate investor based in Atlanta, Georgia.The Cushman & Wakefield investment sales team of Karl Johnston and Patrick Berman (top left photo) represented Case Pomeroy Properties in the deal.
"Fairway Oaks is one of the premier Publix-anchored shopping centers in the Hudson area," said Johnston, Senior Director with Cushman & Wakefield's Jacksonville office.
"Publix's sales at the Property were strong and this was a key factor in driving investor interest in the deal. In the current economic environment, deals are taking longer to complete and require seller and buyer to work together to resolve the myriad of issues that typically arise in the sale of a retail center," said Johnston.
"There will always be good investor demand for solid, grocery anchored neighbor s
hopping centers as these deals are viewed as recession proof because they cater to the everyday needs of consumers, such as groceries," said Johnston.
"There will always be good investor demand for solid, grocery anchored neighbor s
hopping centers as these deals are viewed as recession proof because they cater to the everyday needs of consumers, such as groceries," said Johnston. "Fairway Oaks” has been a strong performing center for over the years and will continue to be for the foreseeable future given its strong anchor tenancy, limited competition, and infill location.
Originally developed in 1994, Fairway Oaks is anchored by a 42,323 square foot Publix and features a high-quality roster of shop tenants. The Property was 84% leased at the time of sale.
Contact: Karl M. Johnston, 904-380-8334, Karl.Johnston@cushwake.com
Originally developed in 1994, Fairway Oaks is anchored by a 42,323 square foot Publix and features a high-quality roster of shop tenants. The Property was 84% leased at the time of sale.
Contact: Karl M. Johnston, 904-380-8334, Karl.Johnston@cushwake.com
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