Tuesday, January 15, 2013

HFF closes $2.7 million sale of Fort Myers, FL grocery-anchored retail center



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. 

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.”

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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