Saturday, January 18, 2014

HFF closes sale of two power centers in Pensacola, FL


Cordova Commons shopping center, 1650-1680 Airport Boulevard, Pensacola, FL

Daniel Finkle
MIAMI, FL – HFF announced it has closed the sale of Cordova Commons and Tradewinds Shopping Center, two retail power centers totaling approximately 344,000 square feet in Pensacola, Florida.

               HFF marketed the properties on behalf of the seller, a joint venture between AEW Capital Management, L.P. and GMH Capital Partners, LP.  Cole Real Estate Investments, Inc. (“Cole”) purchased the centers for an undisclosed amount.

Tradewinds Shopping Center
6601 North Davis Highway,
Pensacola, FL
               Most recently renovated in 2012, Cordova Commons is located at 1650-1680 Airport Boulevard at the intersection of North 9th Avenue across from Pensacola State College, Cordova Mall and Sacred Heart Hospital. 

Situated on 11.9 acres, the 165,480-square-foot retail center is 100 percent leased to tenants including Marshalls, DSW, The Fresh Market, Ulta, Stein Mart and Petco.

Brad Peterson
               Tradewinds Shopping Center is located at 6601 North Davis Highway, less than one mile from Interstate 10.  The 178,554-square-foot center is situated on 19.15 acres and is occupied by tenants including TJ Maxx, Home Goods, Dollar General and Jo-Ann Fabrics. 

               The HFF team representing the seller was led by senior managing directors Danny Finkle and Brad Peterson, managing director Paul Stasaitis and director Luis Castillo.  Vice president of acquisitions Thomas Falatko represented Cole.

Paul Stasaitis
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.

Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide.  One of the world’s leading real estate investment advisors, AEW and its affiliates manage approximately $37 billion of capital invested in more than $50.8 billion of property and securities in North America, Europe and Asia (as of September 30, 2013). 

Luis Castillo
Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. 

AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Singapore, and Hong Kong, as well as additional offices in eight European cities.  For more information please visit www.aew.com.

Under the umbrella of parent company GMH Associates Inc., GMH Capital Partners is a revolutionary real estate investor and developer founded in 1985 by Gary Holloway, Sr., whose vision was to create an all-encompassing real estate entity that would eliminate the need for any third parties to manage or develop its properties. 

Thomas Falatko
Strategic thinking and diversified assets have made GMH Capital Partners a nationwide industry leader in commercial and multifamily investment and development.

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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