Thursday, May 28, 2015

HFF closes sale of grocery-anchored shopping center on St. Simon’s Island, Georgia

  
Retreat Village Shopping Center, 220 Retreat Village, St. Simons Island, GA

ATLANTA, GA, May 28, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Retreat Village, a 108,654-square-foot, grocery-anchored shopping center on St. Simons Island off the coast of Georgia.

Richard Reid
HFF arranged the sale of the property on behalf of the seller, a joint venture between Paces Properties, Inc. and Somera Capital Management, LLC.  

Westwood Financial Corp. purchased the asset free and clear of existing debt.

Retreat Village is 97 percent leased and anchored by Winn-Dixie.  Additional notable tenants include Edwin Watts, Bonefish Grill, H&H Lifestyles, Burger King, AT&T, Great Clips, Radio Shack, Subway and Verizon. 

Located at 220 Retreat Village, the center is near the gateway to St. Simons Island and Sea Island.

The HFF investment sales team representing the seller was led by senior managing directors Richard Reid and Jim Hamilton and real estate analyst Brad Buchanan. 

 “The property benefits from its unique location, high barriers to entry and the surrounding high-end St. Simons Island and Sea Island resort communities with average household incomes approaching $100,000,” said Reid.

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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