PALM BEACH, FL—Publix at St. Andrews, a 65,271-square-foot neighborhood shopping center in Port St. Lucie, FL, has a new owner. Financial terms of the deal were not disclosed.
HFF marketed the retail property on behalf of a client portfolio managed by American Realty Advisors. Publix Super Markets, Inc. purchased the unencumbered property.
Located at 5455-5489 Northwest St. James Drive in Port St. Lucie, Publix at St. Andrews is the only grocery-anchored shopping center within a two-mile radius. The shopping center was built in 2003 and is 87.1% leased to tenants like Hair Cutlery, Subway, H&R Block, and the UPS Store.
The HFF investment sales team representing the seller was led by senior managing director Danny Finkle and director Luis Castillo. Castillo tells GlobeSt.com, "This was an excellent opportunity for Publix to buy a high performing store location within a growing market."
HFF's investment sales team secured more than $1.7 billion in sales of retail assets nationally through third quarter of 2013. In Florida, HFF closed more than $476 million in retail transactions across all capital markets platforms over the same period.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
