RJS Realty Group Completes $74M Retail Sale in Port St. Lucie, FL

PORT ST. LUCIE, FL--RJS Realty Group has arranged the sale of The Landing at Tradition (above centered photo)  and Tradition Village Center, (bottom centered photo)  two exceptional retail assets totaling a combined 610,753 square feet, and situated in the impressive master planned community of Tradition in Port St. Lucie, Florida.

 Bob Sullivan, (top right photo)  President and Steve Miskew, (top left photo)  Managing Director of RJS Realty Group, were the exclusive agents representing the seller, Core Communities, and were the sole brokers in the sale of these assets to Inland Real Estate Acquisitions of Oak Brook, IL.

The purchase price for the 472,285 square feet conveyed was a combined $73.7 million.

The Landing is a 498,332 square foot power center anchored by a 138,468 square foot Target (not conveyed), TJ Maxx, Bed Bath & Beyond, Old Navy, Sports Authority, Babies R’ Us, PetSmart, LA Fitness, and Michaels, among other noted national retailers.

Completed in 2007, this attractive center is situated with exceptional exposure along I-95 at Gatlin Blvd. The sale of The Landing also included four vacant outparcels totaling 12.5 acres.

Tradition Village Center is a uniquely designed, 112,421 square foot neighborhood center anchored by a 45,600 square foot Publix Supermarket, and complemented by a host of local retailers. It was completed in 2006 and is situated at Tradition’s beautiful Town Center, the centerpiece of this dynamic family community.

“These are two of the most attractive and well-positioned retail assets in South Florida”, noted Miskew and Sullivan.

“Their location in this exceptional residential community and proximity to the adjacent 150-acre Florida Center for Innovation, home to the renowned Torrey Pines Institute, Oregon Health & Science University’s Vaccine Gene Therapy Institute and Mann Research Center as well as the nearby planned Digital Domain Studios, will ensure their continued viability.

"We had a significant level of interest in these assets from many of the industry’s most capable investors, and we are pleased to have consummated the sale with Inland. We believe that these exceptional centers, developed in one of Florida’s finest master planned communities, will prove to be a solid investment for Inland.”

RJS Realty Group was founded by Sullivan and Miskew in 1986, and provides comprehensive Investment Sales services to the commercial real estate industry. The firm has completed a wide range of transactions totaling over $3 billion on behalf of many of the industry’s most recognized owners.

For further information please visit www.rjsrealty.com or phone us at 561-659-9771.