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Terranova Sees $19M Profit on Retail Center Disposition

MIAMI-Anthony Blanco, managing partner of Plaza Advisors, tells GlobeSt.com's Jennifer LeClaire that Parkhill Plaza is one of South Florida's best Winn-Dixie anchored shopping centers.

By Jennifer LeClaire | Updated on September 28, 2011

MIAMI-Terranova is showing off its investing skills with its latest disposition. Its Flagler Retail Associates affiliate just sold Parkhill Plaza Shopping for $25.45 million, or $226.38 per square foot. Flagler saw a $19.4 million profit on the sale.

A subsidiary of Kimco Realty bought the 112,424 square foot center at 9501 W. Flagler St. Flagler acquired the asset in 2001 for $6.1 million, according to Flagler Retail president Stephen Bittel. Bittel and Ryan Grindler of Terranova teamed with CB Richard Ellis vice presidents Dennis Carson and Casey Rosen to represent Flagler.

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