Printer-friendly version ORLANDO, FL - January 13, 2014 - HFF announced today that it has closed the sale of two Central Florida Publix-anchored retail properties totaling 167,400 square feet in Orlando and suburban Tampa.
HFF marketed the properties on behalf of the seller. Global Fund Investments purchased the offering free and clear of existing debt.
The first property in the portfolio, Lake Cay Commons, was built in 2008 and is located at 9930 Universal Boulevard in Orlando. Lake Cay Commons, which is 56 percent leased, is located less than one mile from the 2.1 million-square-foot Orange County Convention Center, the Rosen Shingle Creek Resort and the University of Central Florida School of Hospitality.
The second property, The Shoppes at Glen Lakes, is located at 9595 Commercial Way in Weeki Wachee, a northern suburb of Tampa. Also completed in 2008, the property is 76 percent leased.
The HFF team representing the seller was led by senior managing director Brad Peterson along with director Luis Castillo.
“With the scarcity of Publix-anchored retail properties for sale, it was no surprise that close to 25 offers were received on the properties. This portfolio presented a rare opportunity to acquire two high-quality Publix grocery-anchored centers with significant upside in a single transaction,” Peterson commented.
Global Fund Investments, LLC, is a real estate investment company headquartered in South Florida. The company acquires, develops, redevelops, manages, leases and finances retail shopping centers across the Southeastern United States, with a core focus on Florida and Texas. Global owns and self manages 35 shopping centers, totaling 4.5 million square feet of leasable retail space. To learn more about Global, please visit the company’s website at www.gfinvestments.com or contact Nikolas Kozy at 305-535-6305.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.