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| Southtrail Shopping Center, Fort Myers, FL |
MIAMI, FL – HFF announced today that it has closed the
leasehold sale of Southtrail Shopping Center, an 83,690-square-foot,
grocery-anchored shopping center in Fort Myers, Florida.
HFF
marketed the property on behalf of the seller, an entity affiliated with
Lakeland, Florida-based Century Retail, LLC (“Century”). FH Southtrail, LLC purchased the property
for $2.7 million free and clear of existing debt.
The leasehold interest was sold in conjunction with Auction.com
Commercial.
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| Daniel Finkle |
Southtrail Shopping Center is situated on an 8.3-acre site at 3225
Cleveland Avenue (US 41), the main north/south thoroughfare in Fort Myers. The property was renovated in 2010 and is
fully leased to dd’s Discount, Save-A-Lot, Citi Trends and Family Dollar, among
others.
The
HFF team representing the seller was led by senior managing director Danny
Finkle and director Luis Castillo.
“We are continuing to see strong investor demand for solid
grocery-anchored retail in secondary Florida markets,” said Castillo. “Southtrail Shopping Center was no exception
and should continue to be successful under its new ownership.”
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| Luis Castillo |
Century 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. Century was organized in 2004 for
the purpose of developing and leasing retail projects in Florida, Georgia,
Alabama and the Carolinas.
Auction.com is the nation’s leading online real estate
marketplace. Since 2009, the platform
has sold more than $5.7 billion in commercial assets on behalf of 150+
financial institutions and thousands of private clients. This unique, web-based model provides a
proven model for unparalleled execution and maximized asset disposition, with
average Commercial auctions drawing at least 1,300 hits each.
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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