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| Retreat Village Shopping Center, 220 Retreat Village, St. Simons Island, GA |
ATLANTA, GA,
May 28, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has
closed the sale of Retreat Village,
a 108,654-square-foot, grocery-anchored shopping center on St. Simons Island
off the coast of Georgia.
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| Richard Reid |
HFF arranged
the sale of the property on behalf of the seller, a joint venture between Paces
Properties, Inc. and Somera Capital Management, LLC.
Westwood Financial Corp. purchased the asset
free and clear of existing debt.
Retreat
Village is 97 percent leased and anchored by Winn-Dixie. Additional notable tenants include Edwin
Watts, Bonefish Grill, H&H Lifestyles, Burger King, AT&T, Great Clips,
Radio Shack, Subway and Verizon.
Located
at 220 Retreat Village, the center
is near the gateway to St. Simons Island and Sea Island.
The HFF
investment sales team representing the seller was led by senior managing
directors Richard Reid and Jim Hamilton and real estate analyst Brad Buchanan.
“The property benefits from its unique
location, high barriers to entry and the surrounding high-end St. Simons Island
and Sea Island resort communities with average household incomes approaching
$100,000,” said Reid.
For a complete copy of the company’s
news release, please contact:
Kristen M.
Murphy
Associate
Director
HFF | One
Post Office Square, Suite 3500 | Boston, MA 02109
Main:
617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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