PENSACOLA, FL—Cordova Commons and Tradewinds Shopping Center, two retail power centers totaling approximately 344,000 square feet in Pensacola, FL, have traded hands. A joint venture between AEW Capital Management and GMH Capital Partners sold the retail assets to Cole Real Estate Investments. Financial terms of the deal were not disclosed.

HFF marketed the properties on behalf of the seller. HFF managing directors Danny Finkle and Brad Peterson, managing director Paul Stasaitis, and director Luis Castillo, led the charge. Thomas Falatko, vice president of acquisitions at Cole, represented his firm.

“These deals are evidence that institutional investors are migrating to mid-size markets and buying best in class assets due to the lack of high-quality deals in primary markets,” Peterson tells GlobeSt.com. “Cordova Commons features The Fresh Market, Marshalls, Stein Mart, Petco, DSW and Ulta and is located at the very best intersection in Pensacola.”