Tuesday, June 9, 2015

HFF closes sale of community retail center in Pensacola, FL


Ferry Pass Plaza, 8102 North Davis Highway, Pensacola, FL

ORLANDO, FL - June 9, 2015 -  Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Ferry Pass Plaza, a 115,198-square-foot community retail center in Pensacola, Florida.

Brad Peterson
HFF arranged the sale of the property on behalf of the seller, Phillips Edison & Company.  Albanese Cormier Holdings purchased the asset free and clear of existing debt.

Ferry Pass Plaza is situated on a dominant 12.3-acre corner at 8102 North Davis Highway near where it intersects with Interstate 10.  

North Davis Highway (SR 291) is one of the primary retail corridors in Pensacola with traffic counts exceeding 60,500 cars per day. 

The center is across the street from West Florida Hospital and less than three miles from the University of West Florida.  Anchor tenants of the 96.9-percent-leased center include Ross Dress for Less, Dollar Tree and Dirt Cheap. 

The HFF investment sales team representing the seller was led by senior managing director Brad Peterson and associate director Whitaker Leonhardt.

“HFF has been extremely active in the Florida Panhandle and continues to see a healthy amount of interest in the region from investors,” Peterson said.  “Ferry Pass Plaza presented a unique opportunity to invest in high-quality real estate in a tightly-concentrated Pensacola submarket with the future opportunity to add value or re-position the asset.”  
 
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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