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| Palm Coast Landing, Palm Coast, FL |
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| 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.
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| 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.
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| 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
DANIEL FINKLE
FL Lic. #SL3043501
HFF Senior Managing Director
(305) 448-1333
KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420
