Tuesday, December 10, 2013

HFF closes $9.875 million sale of Publix-anchored center in Fort Myers, FL


Alico Commons, Alico Road and Tamiami Trail (US 41), Fort Myers, FL

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.

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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