The property was on the market for about 45 days. "The total marketing process, from the introduction of the property to the market until closing, took about four months," Adam Feinstein, director/financial services in Cushman & Wakefield's Miami office, tells GlobeSt.com. Mark Gilbert, senior director/financial services, co-brokered the transaction for Hancock.

The property "received significant interest from investors due to its location in a growing submarket; its proximity to Port Canaveral and tourist-driven Cocoa Beach; and the solid sales performance of its anchor and shop tenants," Feinstein says.

Gilbert adds that "the market for regional malls nationally has picked up considerably in 2002," with "renewed interest from the investment community." He says regional malls in Florida "are always highly coveted because of the state's strong population growth and income levels." Gilbert and Feinstein have completed $350 million of investment transactions in the past 24 months.