Thursday, May 28, 2015

HFF closes $29 million sale of 2-property Winn-Dixie-anchored retail portfolio in Florida





MIAMI, FL, May 28, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $29 million sale of a Winn-Dixie-anchored shopping center portfolio totaling 333,276 square feet in Florida.  

Daniel Finkle
The 87.3-percent-leased portfolio consists of Promenades in Port Charlotte, Florida, and Highlands Plaza in Lakeland, Florida. 

HFF marketed the property on behalf of the sellers, Mount Kellett Capital Management L.P. and Morning Calm Management, LLC.

Renovated in 2009, Promenades is a 230,704-square-foot mixed-use center with two available outparcels for future development. 

The center is home to Winn Dixie, Bealls Outlet, Tuesday Morning and YouFit Health Club, in addition to medical office tenant Fawcett Memorial and the Charlotte County Sheriff’s Office.

  Situated on 26.4 acres at 3280 Tamiami Trail, the property is at the entrance to the Medical Arts District in Port Charlotte, a waterfront community on the Gulf of Mexico’s Charlotte Harbor. 
The 102,572-square-foot Highlands Plaza features 461 parking spaces on its 15.68 acres and has two available outparcels for future development.

Luis Castillo

 In addition to the Winn-Dixie anchor, the center’s tenants include Florida Speech and Wellness Center, Fantastic Sam’s, Highlands MRI and Music Go Round. 

Highlands Plaza is located at 2900 Lakeland Highlands Road one mile off Polk Parkway in Lakeland, a central Florida community approximately 35 miles east of Tampa.  The center serves a trade area of almost 60,000 residents within three miles.

The HFF team representing the seller was led by senior managing director Daniel Finkle, managing director Luis Castillo and associate director Nat Scarmazzi.

“The opportunity to acquire high-performing and well-established grocery-anchored centers is becoming increasingly rare in Florida,” Castillo said.  

“Given the high-growth nature of these markets and meaningful value creation potential for the individual properties, this portfolio garnered significant interest from investors.”

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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