Tuesday, December 25, 2012

HFF closes $10.8 million sale of Granada Plaza in Dunedin, FL



Granada Plaza, Dunedin, FL
MIAMI, FL – HFF announced it has closed the sale of Granada Plaza, a 74,200-square-foot, grocery-anchored neighborhood center in Dunedin (Tampa), Florida.

                HFF marketed the property on behalf of the seller, Odyssey DP I, LLC, an entity affiliated with Lakeland, Florida-based Odyssey Diversified Properties, Inc (“Odyssey”).  H&R REIT purchased the asset for $10.8 million and is assuming exiting life insurance company financing.


Daniel Finkle
Granada Plaza is situated on a 6.92-acre site at 1491-1575 Main Street at the intersection of State Road 580 and County Road 1, northwest of Tampa in Dunedin.  The property was renovated in 2004 and is 86 percent leased to tenants including Publix (anchor tenant), Curves, UPS Store, Hair Cuttery and Firehouse Subs.

                The HFF team representing the seller was led by senior managing director Danny Finkle and director Luis Castillo. This sale marks the 19th successful retail center transaction closed by HFF in Florida in 2012.

Luis Castillo
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.

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 | www.hfflp.com


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