HFF closes sale of Daytona Beach, FL--area retail center

Palm Coast Landing, Palm Coast, FL

Brad Peterson

ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Palm Coast Landing, a 171,352-square-foot, high-performing retail center within an Opportunity Zone in the Daytona Beach-area community of Palm Coast, Florida.

HFF team marketed the property on behalf of the seller, a publicly traded REIT.  Acadia Realty Trust purchased the center.

Completed in 2008, Palm Coast Landing is the largest, most central and most dominant shopping center in Flagler County, which is about 24 miles north of Daytona Beach. 

Daniel Finkle

The center is 96.9% leased to a variety of tenants, including anchors Ross Dress for Less, T.J.Maxx, Michaels, PetSmart, Ulta Beauty and Dollar Tree, and is shadow anchored by Super Target. 

Situated on 21.3 acres at 5200 East Highway 100, Palm Coast Landing is at the epicenter of Town Center at Palm Coast, a 1,557-acre Development of Regional Impact (DRI) near the geographic center of Palm Coast and a recently designated Opportunity Zone. 

The HFF investment advisory team representing the seller included senior managing director Brad Peterson, senior managing director and co-head of HFF’s retail practice Daniel Finkle, senior director Whitaker Leonhardt and associate Ryan Stoffer.

“Palm Coast Landing received strong interest because it is a seasoned and proven market-dominant regional shopping center in a high-growth area along Florida’s east coast,” Peterson said. 

Whitaker Leonhardt

 “While retail investors have become more highly-selective, this shopping center checked all the boxes, so it was no surprise that we received more than 10 offers from very qualified and highly capable groups.”

About Acadia Realty Trust

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual – Core and Fund – operating platforms and its disciplined, location-driven investment strategy.

Acadia Realty Trust is accomplishing this goal by building a best-in-class core real estate portfolio with meaningful concentrations of assets in the nation’s most dynamic urban and street-retail corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet. 

CONTACTS:

BRAD PETERSON

FL Lic. #BK3162030

HFF Senior Managing Director

(407) 745-3900

bpeterson@hfflp.com

DANIEL FINKLE

FL Lic. #SL3043501

HFF Senior Managing Director

(305) 448-1333

dfinkle@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

www.acadiarealty.com.