TAMPA-The Island Estates Plaza is the latest shopping center to trade hands in a flurry of Florida retail deals this quarter. Publix purchased the 50,046-square-foot grocery anchored neighborhood center in Clearwater Beach for $8.1 million.
HFF managing director Daniel Finkle, director Luis Castillo and real estate analyst Robert Saracco represented the seller, DAM Clearwater, LLC, an entity wholly owned by Southport, Conn.-based David A. Mack Properties. Publix Super Markets purchased the asset free and clear of debt.
“There is a strong appetite for core investments at all value ranges that results in aggressive pricing for these properties,” Castillo tells GlobeSt.com. “Island Estates was an excellent example of this and benefited as a result.”
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