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| Highlands Plaza, Lakeland, FL |
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.
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| 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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