Ft. LAUDERDALE, FL, Oak Brook, Illinois- based Inland Real Estate Acquisitions purchased two shopping centers in Tradition, a Port Lucie planned development community on Florida’s Treasure Coast, roughly 40 minutes north of West Palm Beach. The price for the two properties was nearly $74 million on June 10th.
The two centers, The Landing at Tradition, with 498,332 square feet, and Tradition Village Center, with 102,421 square feet, are located across the street from each other. The former is anchored by a 138,468-square foot Target, (which was not included in the sale because it owns its own store) TJ Maxx, Bed Bath & Beyond and Old Navy. The latter is anchored by a 45,600-square foot Publix.
The seller of the shopping centers was Core Communities, which developed Tradition, one of the largest planned unit developments on the East Coast. “Core had planned to sell the centers all along,” says Steve Miskew, managing director at RJS Realty Group who was one of the brokers representing the owners in the deal.
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