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Michigan Firm Buys FL Centers

ST. PETERSBURG, FL-Cambridge Investors gets two retail centers, pushing its total investment in Florida to more than $40 million.

By Jennifer D. Duell | Updated on August 30, 2005

ST. PETERSBURG, FL-Cambridge Investors has acquiredtwo retail properties in Florida totaling 242,000 sf.With these acquisitions, the Farmington Hills,MI-based investment company has acquired more than $40million worth of commercial real estate throughoutFlorida, according to CEO Thomas Purther.

The two assets include the 147,000-sf CrosswindsShopping Center in St. Petersburg and the 95,000-sfLandings Shopping Center in Sarasota. CrosswindsShopping Center is fully leased and is anchored by BedBath & Beyond, Marshall’s, Michaels and Sofa Express.Cambridge Investors said in a statement that it plansto “enhance and upgrade the property to take advantageof a strong St. Petersburg market.”

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