As Peterson sees it, the non-grocery segment of the retail market has evolved. Although most retail investors would like to purchase a grocery-anchored center—Publix-anchored centers are prime—he says pricing has become so aggressive that many investors can’t get the yield that they are seeking.

“There’s a growing number of retail investors focusing their efforts on good quality non-grocery-anchored shopping centers,” Peterson says. “They see little or no additional risk versus a grocery-anchored center, but the return prospects are more attractive because the grocery-anchored centers are being so highly contested.”

HFF recently sold another large non-grocery community center in Jacksonville, the 258,359-square foot Riverplace Shopping Center, anchored by Stein Mart and TJ Maxx, for $137.88 per square foot. HFF is also listing Volusia Square, a non-grocery retail center in Daytona Beach featuring TJ Maxx and Hobby Lobby. And Peterson hinted at another yet-to-be-announced non-grocery anchored center soon to be listed in Clarkesville, TN.

But beyond the core assets, C. Scot Harrison, associate director of Retail Sales and Leasing at NAI Commercial Jacksonville, tells GlobeSt.com that companies are slow to pull the trigger on acquisition or lease transactions. “There is more rock turning going on, but when it comes to actually putting signature to paper and moving forward, it’s still sluggish,” he says. “Everybody is real cautious, looking over the deals two or three times at least before they commit.”