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GlobeSt.com Special: Neighborhood Centers Prized by Investors

ORLANDO-With the stock market in the basement, institutional investors and other buyers are scouting the area for established, grocery-anchored shopping properties and willing to pay $50 per sf to $150 per sf for strong income-producing assets.

By Alex Finkelstein | Updated on October 01, 2001

ORLANDO-Established neighborhood shopping centers throughout Central Florida and the state are being gobbled up by REITs, pension funds and other national investors hunting for assets that will generate a stable cash stream; deliver positive equity returns; and have the potential of increasing rents over a three-year to five-year period, brokers, developers and investors tell GlobeSt.com.

Inland Real Estate Trust Inc. of Oak Brook, ILL, a Chicago suburb, is emerging as the giant killer among neighborhood shopping center buyers in Central Florida and throughout the state.

Of the Illinois REIT’s total Florida portfolio of 2.11 million sf at 16 properties, 11 centers totaling 1.21 million sf are in Central Florida.

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