HFF closes sale of two power centers in Pensacola, Florida

HFF's picture
Printer-friendly versionPrinter-friendly version  MIAMI, FL - January 14, 2014 – HFF announced today that it has closed the sale of Cordova Commons and Tradewinds Shopping Center, two retail power centers totaling approximately 344,000 square feet in Pensacola, Florida. HFF marketed the properties on behalf of the seller, a joint venture between AEW Capital Management, L.P. and GMH Capital Partners, LP. Cole Real Estate Investments, Inc. (“Cole”) purchased the centers for an undisclosed amount. Most recently renovated in 2012, Cordova Commons is located at 1650-1680 Airport Boulevard at the intersection of North 9th Avenue across from Pensacola State College, Cordova Mall and Sacred Heart Hospital. Situated on 11.9 acres, the 165,480-square-foot retail center is 100 percent leased to tenants including Marshalls, DSW, The Fresh Market, Ulta, Stein Mart and Petco. Tradewinds Shopping Center is located at 6601 North Davis Highway, less than one mile from Interstate 10. The 178,554-square-foot center is situated on 19.15 acres and is occupied by tenants including TJ Maxx, Home Goods, Dollar General and Jo-Ann Fabrics. The HFF team representing the seller was led by senior managing directors Danny Finkle and Brad Peterson, managing director Paul Stasaitis and director Luis Castillo. Vice president of acquisitions Thomas Falatko represented Cole. HFF has capitalized more than $4.3 billion in retail assets nationally through third quarter 2013. The HFF Florida team has capitalized more than $476 million in retail transactions during this time. Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage approximately $37 billion of capital invested in more than $50.8 billion of property and securities in North America, Europe and Asia (as of September 30, 2013). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Singapore, and Hong Kong, as well as additional offices in eight European cities. For more information please visit www.aew.com. Under the umbrella of parent company GMH Associates Inc., GMH Capital Partners is a revolutionary real estate investor and developer founded in 1985 by Gary Holloway, Sr., whose vision was to create an all-encompassing real estate entity that would eliminate the need for any third parties to manage or develop its properties. Strategic thinking and diversified assets have made GMH Capital Partners a nationwide industry leader in commercial and multifamily investment and development. 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.

News Source : HFF closes sale of two power centers in Pensacola, Florida

Copy this html code to your website/blog to embed this press release.


Post new comment

11 + 1 =

To prevent automated spam submissions leave this field empty.
Page execution time was 542.77 ms.

Memory usage:

Memory used at: devel_init()=2.13 MB, devel_shutdown()=22.6 MB.