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| Alico Commons, Alico Road and Tamiami Trail (US 41), Fort Myers, FL |
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| Danny Finkle |
MIAMI, FL – HFF announced today that it has closed the
$9.875 million sale of Alico Commons, a 97,663-square-foot
Publix-anchored center in Fort Myers, Florida.
HFF marketed the properties on behalf of
Endeavor Real Estate Group (“Endeavor”). The PMAT Companies purchased the asset
for $9.875 million free and clear of existing debt.
Built in 2009, Alico Commons is situated on a 12.04-acre
site at the intersection of Alico Road and Tamiami Trail (US Highway 41). The center is 53.5 percent leased and is
anchored by a 45,600-square-foot Publix.
The
HFF team representing the seller was led by senior managing director Danny
Finkle and director Luis Castillo.
“This asset provided investors an opportunity to acquire a
recently built, high volume, Publix-anchored center with substantial value
enhancement possibilities through lease-up and outparcel development in an
ascending local market,” said Finkle.
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| Luis Castillo |
HFF has capitalized more than $4.3 billion in retail assets
nationally through third quarter 2013.
The HFF Florida team has capitalized more than $476 million in retail
transactions during this time.
Austin-based and privately owned, Endeavor is focused on the
acquisition and development of retail, office, industrial and
multifamily/mixed-use properties.
Founded in 1999, the company provides a services including property
management, tenant representation and leasing.
The PMAT Companies is a real estate development firm focused
on value-add grocery anchored shopping centers across the Southeast, Sunbelt
and Mid-Atlantic Regions.
Since its
founding in 2003, the PMAT Companies have acquired and successfully renovated
20 anchored shopping centers with an aggregate market value of nearly $500
million dollars consisting of approximately 2.5 million square feet.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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