Tuesday, April 2, 2013

Plaza Advisors Announces Sale of Highlands Plaza in Lakeland, FL


Highlands Plaza, Lakeland, FL
TAMPA, FL, April 2, 2013 -- Plaza Advisors is pleased to announce the sale of  Highlands Plaza, a Winn Dixie grocery anchored shopping center located in Lakeland (Polk Beach County) Florida.

The asset contains 102,575 square feet of gross leasable area. The major tenants include Winn Dixie, Central Florida Speech & Hearing Clinic and Chase Bank. The asset was constructed in 1989 and was 84% leased at the time of sale.
  

Jim Michalak
Jim Michalak and Paul Bores of Plaza Advisors represented the seller in the transaction. The seller and buyer were DDR Corp. and Highlands Plaza Building Owner, LLC a private equity firm based in south Florida, respectively. 

 “While the capital markets demand for Publix anchored centers are at an all-time high this transaction is reflective of the continuation of the investor migration for necessity based retail product located in middle market areas of Florida” states Jim Michalak. “Furthermore, investors tend to garner better returns and experience less acquisition competition as compared to Publix centers located in Florida’s primary markets”.

Paul Bores
Plaza Advisors is a real estate brokerage firm that specializes in the disposition of retail properties throughout the State of Florida. Plaza Advisors’ clients include private equity investors, developers, and major institutions including fund advisors, servicing agents, life insurance companies, REITs, and money center banks.

 Plaza Advisors has closed over 130 shopping center transactions, with a combined GLA exceeding 13 million square feet with an aggregate sales volume in excess of $1.5 billion.

  For a complete copy of the company’s news release, please contact:

Jim Michalak
 Managing Partner
Plaza Advisors
3412 Bay To Bay Boulevard
Tampa, FL 33629
813.837.1300 Ext. 101
Fax 831.2627

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