MIAMI, FL – HFF announced today that it has closed the sale of Century Town Center, a 106,976-square-foot community shopping center in Vero Beach, Florida.HFF represented the seller, CRF Panther IX, LLC, an entity controlled by Lakeland, Florida-based Odyssey Diversified Properties, Inc (“Odyssey”). Cole Real Estate Investments purchased Century Town Center for $14.775 million.
Century Town Center is situated on 18.4 acres at 5915-5975 State Road 60 close to Interstate 95 and Federal Highway in Vero Beach. Completed in 2008, the property is 93.3 percent occupied. Major tenants include HomeGoods, Marshalls, Petco, JoAnn’s Fabrics and Olive Garden.
The HFF team representing the seller included managing directors Danny Finkle (top right photo) and Brad Peterson (middle left photo) and director Luis Castillo (lower right photo). Thomas Falatko, vice president of acquisitions, represented Cole.“Century Town Center is one of the premier community shopping centers in the Vero Beach trade area with a prime location on SR 60 and a strong combination of national retailers. The continued growth of the Vero Beach market and the long-term commitment of the property’s tenancy ensure the long-term success of Century Town Center,” said Finkle.
Odyssey develops, leases and manages a variety of retail projects from small strips to large, neighborhood centers with national tenants such as Publix, Marshalls, Save-A-Lot, Starbucks and Bealls among many more. Odyssey was organized in 2004 for the purpose of developing and leasing retail projects in Florida, Georgia, Alabama and the Carolinas.
Founded in 1979, Cole Real Estate Investments is one of the most active investors in core commercial real estate assets, managing one of the country’s largest portfolios of retail properties. Today, Cole owns or manages 47 million square feet of commercial real estate in 46 states with a combined acquisition cost of approximately $8 billion.
Contacts:
Daniel Finkle, HFF Managing Director, (305) 448-1333,
Luis Castillo, HFF Director, (305) 448-1333, lcastillo@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500
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