Plaza Advisors Announces Sale of French Golden Gate Shopping Center in Bartow, FL

French Golden Gate Shopping Center, Bartow, FL

BARTOW, FL -- Plaza Advisors is pleased to announce the sale of the French Golden Gate Shopping Center in Bartow, Florida.

The shopping center is situated at the intersection of SR 60 and US Highway 98 and totals 141,350 square feet of gross leasable area.

The major tenants include Publix, Beall’s Outlet, Pet Supermarket and freestanding Walgreens and Burger King locations.

 The Publix store was the third store to open in the chain’s history and was originally constructed in 1960.

Jim Michalak

New Publix, Beall’s Outlet, Walgreens and Burger King stores were constructed and began operating in 2011. The property was 83% leased at the time of sale.

 Jim Michalak and Mike Cvetetic of Plaza Advisors represented the seller in the transaction. No other brokers were involved in the sale. The seller and buyer were French Golden Gate LLC and The Phillips Edison Group LLC, respectively. 

 “The capital market demand, including debt providers, for Publix anchored assets is overwhelming which commonly results in a tremendous amount of investor interest and elevated pricing” Jim Michalak stated.

Additionally Michalak emphasized that “the compelling reasons for the aggressive bidding for this asset were: the new Publix, Walgreens, Burger King and Beall’s Outlet long-term leases, investment grade credit and the 24,000 sf of vacant space, which presents considerable NOI growth potential”.

Mike Cvetetic

 Plaza Advisors specializes in the disposition of anchored shopping centers located throughout Florida. The company has successfully closed nine centers since December 2013. Those closings included: six Winn Dixie and two Publix anchored assets.

 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

jim.michalak@plazadvisors.com

www.plazadvisors.com