$417-Per-SF Strip Center Sale Sets Record

LAKELAND, FL-The Tampa office of GVA Advantis Real Estate Services Co. has bested the company’s Orlando office in posting the highest per-sf-sales price of a retail center in Central Florida.

Milan Properties West LLC of Los Angeles paid seller-developer Shops at Lakeland Square LLC $3.44 million for the 100%-leased, 8,248-sf Shops at Lakeland Square. The six-month-old asset is located at the main entrance to the 900,000-sf Lakeland Square Regional Mall. Tampa Advantis executive directors Brad C. Luger and Larry Randolph rung up the $417.07-per-sf sale on the Lakeland property.

That deal trumped the $401.96-per-sf price recorded by the Pocklington Pocklington & Forster Retail Investment Group on Oct. 18, 2005, as GlobeSt.com previously reported.