Publix is the neighborhood necessity strip center's anchor tenant. Other tenants include Pinch A Penny, State Farm Insurance, Subway, Hair Cuttery, Dry Clean USA and Mailboxes, Etc. Built in 2001, the shopping center is 96.6% occupied and has 2,400 sf of space available.

Senior director Jim Michalak, a Cushman & Wakefield retail financial investment specialist in the company's Tampa, FL, office, represented the sellers in the transaction. "Publix at Laguna Isles is positioned in a high-growth, affluent trade area," Michalak says in a statement. The average household income in the area is more than $87,000, and the median housing values are greater than $220,000, he points out. "The asset features a full-line Publix grocery/pharmacy, rising rental rates and a strong, consistent cash flow.