MIAMI, FL – HFF announced today that it has closed the sale
of Publix at Northridge (top left photo),
a 65,320-square-foot grocery-anchored retail center in Sarasota, Florida.
HFF marketed the properties on behalf of the seller, a joint
venture led by Kimco Realty Corporation.
Phillips Edison-ARC Shopping Center REIT Inc. purchased the property for
$11.6 million subject to existing debt.
Publix at Northridge is located at 5100 Clark Road near the intersection
of Honore Avenue within the Palmer Ranch master-planned community in
Sarasota. Built in 2003, the center is
situated on 12.4 acres and includes 280 parking spaces. Publix grocery store occupies 44,840 square
feet of the center, which is 84 percent occupied by seven tenants.
The HFF investment sales team representing the seller was
led by senior managing directors Danny
Finkle (middle right photo) and Brad Peterson (middle left photo),
director Luis Castillo (lower right photo) and real
estate analyst Kim Flores.
"We are pleased to have successfully facilitated this
sale on behalf of Kimco Realty as they continue to refine their shopping center
portfolio to focus on select markets," said Finkle.
Kimco
Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered
in New Hyde Park, N.Y., that owns and operates North America’s largest
portfolio of neighborhood and community shopping centers.
As of June 30, 2012, the company owned interests in 926
shopping centers comprising 136 million square feet of leasable space across 44
states, Puerto Rico, Canada, Mexico and South America.
Publicly traded on
the NYSE since 1991, and included in the S&P 500 Index, the company has
specialized in shopping center acquisitions, development and management for
more than 50 years.
For further
information, please visit www.kimcorealty.com,
the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.
Contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |
No comments:
Post a Comment