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| Clermont Crossings at Lost Lake shopping center, Clermont, FL |
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| Jim Michalak |
TAMPA, FL -- Plaza Advisors is pleased to announce the sale
of Clermont Crossings at Lost Lake shopping center located in Clermont
(Orlando Market) Florida.
The center contains a total of 149,698 square feet of gross
leasable area. The property is situated on 33.291 acres and was built in phases
during 2009 through 2011.
The asset was 91.1% leased at the time of sale. The property
was shadow anchored by BJ’s Wholesale Club, ALDI, Firestone and IHOP. The
transaction included an 11,254 square foot strip that with Inline tenants Jimmy
Johns and Flippers Pizzeria.
The seller and buyer
were KMH Limited Liability Company and Commons at Twin Lakes Associates, LLC,
respectively. Both parties are a private equity firms.
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| Mike Cvetetic |
Jim Michalak and Mike Cvetetic of Plaza
Advisors represented the seller in the transaction. The buyer utilized 1031 Tax
Exchange funds from the previous sale of Commons at Twin Lakes by Plaza
Advisors.
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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